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Author Topic: Effects of ICO ban in China  (Read 8923 times)
nick_nick
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September 04, 2017, 11:27:44 PM
 #1

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley
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wellsontheja
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September 04, 2017, 11:39:14 PM
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I think if that happen (already happen) some ICO Developer will lose his investor and amount of ICO developer from china will decrease.

woas4
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September 04, 2017, 11:48:37 PM
 #3

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley

They arent banning the use of crypto currencies, they're just putting forth a plan to start regulating ICOs to stop future scams and shady projects laundering money and getting away with millions.

Slowhand26
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September 04, 2017, 11:56:32 PM
 #4

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley

They arent banning the use of crypto currencies, they're just putting forth a plan to start regulating ICOs to stop future scams and shady projects laundering money and getting away with millions.
I agree to this. We all know that scammers / and con-artists are very wise. They know how to plan and they really study what are the in demands today. ICO can easily be scammed, you just need to have a structured and good to be true website and plans and investors will just go invest to those. Actually ICO should really be regulated.

May I also ask, if a country will be banning activity on the internet, can they just use VPN to mask IP address and continue with these like ICO? Especially if the ICO comes from different country. Sorry for my newbie question.

stupid_seb
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September 05, 2017, 12:30:44 AM
 #5

Morning time in Asia.. China will dump more (panic mode, as usual, and/or the need to have a drop in price to erase yesterday's losses), be ready for. BTC price drop.

Later, Europe, then America will buy cheap BTC and the price will rise again.

China is going nuts for no reason on BTC. The value of BTC has technically increased as it became more and more difficult to get more (fiat-cryptos OFF until further notice)

Interesting times of idiocracy...

Ultegra134
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September 05, 2017, 12:34:45 AM
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Morning time in Asia.. China will dump more (panic mode, as usual, and/or the need to have a drop in price to erase yesterday's losses), be ready for. BTC price drop.

Later, Europe, then America will buy cheap BTC and the price will rise again.

China is going nuts for no reason on BTC. The value of BTC has technically increased as it became more and more difficult to get more (fiat-cryptos OFF until further notice)

Interesting times of idiocracy...

Bitcoin's price dropped quite a lot, not sure if it has much relation to the recent ICO drop though. ICOs are mostly correlated with Ethereum, hence the tokens. The ban won't affect Bitcoin, at least long term.

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janedt
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September 05, 2017, 12:35:37 AM
 #7

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley

Nah, that the already successful ICO will not refund the money. I mean, they are success before the ban coming so i think China investor who invest on that successful ico will not get any problem. The real problem is for the next incoming ico, with the ico ban from china, some ICO must be aware what will happen without investor from china.

8270thNinja
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September 05, 2017, 12:43:19 AM
 #8

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley
MONIES? it should be monies! Please do not shit post and construct your sentence well.

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?
>Cryptocurrencies are safe on china, and they only ban ICO, with this news i think more chinese bitcoiners and chinese investors will be more focused on cryptocurrency specially bitcoin.

will the already successful ICO's refund people's monies to them?
>They did not yet announced something with this or they already did?, if we are basing on the news, i think no, they are talking about ICO only and not banning the existing coins.

Is it good for governments to ban the use of crypto currencies?
>It depends on their current system and current issues, some of the countries ban cryptocurrencies because it may cause to support terrorism and unobserved transaction that may impose as a threat to that government.

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September 05, 2017, 01:39:48 AM
 #9

Support terrorism.This damn execuse works everywhere.World will deal with terrorism but first of all people want to decentralize everything.

Where is terrorism??
I think what just happened will just shake off scam ICOs and leave only OK ICOs thats it!

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Will.Smith
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September 05, 2017, 01:45:50 AM
 #10

I think it's a good news overall for the crypto-economy in the long run. Reasonable regulation can be beneficial for the entire blockchain industry. It could solve issues that are otherwise unsolvable, and will ensure a level of protection for users and investors and ICO project backers. This way, ICO scams will be easier to filter out, leaving room for good legit projects to gain funding and build actual, useful products or services.

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blockchainmarketus
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September 05, 2017, 01:51:18 AM
 #11

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley
MONIES? it should be monies! Please do not shit post and construct your sentence well.

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?
>Cryptocurrencies are safe on china, and they only ban ICO, with this news i think more chinese bitcoiners and chinese investors will be more focused on cryptocurrency specially bitcoin.

will the already successful ICO's refund people's monies to them?
>They did not yet announced something with this or they already did?, if we are basing on the news, i think no, they are talking about ICO only and not banning the existing coins.

Is it good for governments to ban the use of crypto currencies?
>It depends on their current system and current issues, some of the countries ban cryptocurrencies because it may cause to support terrorism and unobserved transaction that may impose as a threat to that government.
Can you tell me terorists who use cryptocurrency. I think you'd better proof that cyrptocurrencies are used by terorists. The most crypto is used to scam projects, HYIP and fake investments, drug dealling and other crimes include terorism. But you can't say crypto is for terorism. I don't like that crypto support terorism. I am not terorist, most members of bitcointalk are not terorists too. They are users of cryptocurrencies.

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NathanJB
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September 05, 2017, 01:51:46 AM
 #12

What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley

I don't think there is a need to refund if the ICO is already successful. This is a new policy and it cannot possible cover those that have been successfully conducted already. Those that have invested in the earlier ICOs when this policy is not yet implemented will still receive their token share of course. The following ICOs are the ones that will be having problems now.
9jaflick
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September 05, 2017, 02:02:58 AM
 #13

the move by china government to ban initial coin inferring (ICO) is a very welcome development to me! if you want to start up a company you should have at least have raised up to 20percent of total funds required to run the campaign, before calling for investors to invest their money in your project, but what we are experiencing lately in cryptocurrency world is different, ICOs everywhere, it wasn't like a year ago, some sorts of individuals/group of persons will just wake up one morning, comes up with idea and the next thing they will launch an ICO project and at the end of it all they will disappear with investors money. cryptocurrenty needs to be regulated to save investors for loosing funds


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stupid_seb
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September 05, 2017, 02:28:43 AM
 #14

Morning time in Asia.. China will dump more (panic mode, as usual, and/or the need to have a drop in price to erase yesterday's losses), be ready for. BTC price drop.

Later, Europe, then America will buy cheap BTC and the price will rise again.

China is going nuts for no reason on BTC. The value of BTC has technically increased as it became more and more difficult to get more (fiat-cryptos OFF until further notice)

Interesting times of idiocracy...


And here we go $3,950...

LOL

Some people are gonna lose a LOT of money selling at this price point.

senin
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September 05, 2017, 02:43:44 AM
 #15

As far as I know, the Central Bank of China banned only the ICO, which they planned to commit. At the same time, those that are being conducted now should not suffer. Can developers use VPN protection to get out of the ban, theoretically yes. If you do not need to show any other binding to the country where the ICO is conducted. However, I think that later will introduce additional conditions that would preclude such an opportunity.

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September 05, 2017, 02:46:51 AM
 #16

the move by china government to ban initial coin inferring (ICO) is a very welcome development to me! if you want to start up a company you should have at least have raised up to 20percent of total funds required to run the campaign, before calling for investors to invest their money in your project, but what we are experiencing lately in cryptocurrency world is different, ICOs everywhere, it wasn't like a year ago, some sorts of individuals/group of persons will just wake up one morning, comes up with idea and the next thing they will launch an ICO project and at the end of it all they will disappear with investors money. cryptocurrenty needs to be regulated to save investors for loosing funds

No, cryptocurrency does not need to be regulated to keep investors from losing their funds.  ICOs need to have a set of standards in place that they can be held to to help make sure that the people putting forth the ICO aren't running a scam.  If you are thinking of investing in an ICO you need to do some research before leaping in.  If their website lists their team by the first name with no social media links then it's safe to say you can avoid that ICO.

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September 05, 2017, 02:48:07 AM
 #17

Morning time in Asia.. China will dump more (panic mode, as usual, and/or the need to have a drop in price to erase yesterday's losses), be ready for. BTC price drop.

Later, Europe, then America will buy cheap BTC and the price will rise again.

China is going nuts for no reason on BTC. The value of BTC has technically increased as it became more and more difficult to get more (fiat-cryptos OFF until further notice)

Interesting times of idiocracy...


And here we go $3,950...

LOL

Some people are gonna lose a LOT of money selling at this price point.


It easly can go to ~3500 and a lot of people wiil sell at the lows because they will think this is the END and bitcoin is a ponzi theme. But those who had long positions from 4-4.1k in margin trading then it's not funny for them anymore and even to sell right now could be better then to lose all the deposit if the margin call is near.

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September 05, 2017, 02:58:03 AM
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China ICO ban may jolt ICO market for a short time but , quality ICOs will still see uptrend via Hongkong, Singpur etc . one of such good project is Ambrosus The combination of the maturity of the technology and the brainpower and creativity of participating actors provide a unique and clear opportunity to build a bridge between Ethereum and the food sector.
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September 05, 2017, 03:01:17 AM
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the move by china government to ban initial coin inferring (ICO) is a very welcome development to me! if you want to start up a company you should have at least have raised up to 20percent of total funds required to run the campaign, before calling for investors to invest their money in your project, but what we are experiencing lately in cryptocurrency world is different, ICOs everywhere, it wasn't like a year ago, some sorts of individuals/group of persons will just wake up one morning, comes up with idea and the next thing they will launch an ICO project and at the end of it all they will disappear with investors money. cryptocurrenty needs to be regulated to save investors for loosing funds

I agree. Some regulation is needed. A lot ICO from last years and this year are gone. Those people need to held accountable.

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September 05, 2017, 03:16:57 AM
 #20

China only prevented people and organizations from laundering and scammers. Since ICOs are established and China really let ICOs in their country, I think the best way to do is investigate those who are scammers and let them outside the organizations. You cannot prevent or stop people in using or investing in alt coins. There are many alt coins that people have trusted for years.

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