Effects of ICO ban in China

[Marry Finch]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

[1714931292]

1714931292

[Drizzlepistol]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

I dont think Chinese government like crypto currency. But they will want control it or do something like that. Look at their FireGreatWall. They want control everything

[Sarcasm]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

maybe not completely ico in illegal in china, we just wait until china government really give announcement about this 

[carriebee]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

maybe not completely ico in illegal in china, we just wait until china government really give announcement about this  

Their government I guess only wanted those into cryptocurrency to be aware of ICO and not to be scam. Because many ICO has been release and wanted to scam investors. I agree, the chinese government has been like and invest into cryptocurrency and I don't think they will banned this, only the ICO without quality project.

[stupid_seb]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

maybe not completely ico in illegal in china, we just wait until china government really give announcement about this 

Exactly. They will "adjust" after the full ban anyways.

[Giraffle]

of course the excuse is terrorism. the gov't blames terrorism with the tiniest piece of b******t evidence, news media eats it up, spits it out onto civilians plates, and they eat it. except for us of course. at least this will stop a lot of the scam ico going on

[delliaerd]

China banned ICO will give affect for cryptocurrencies existence especially for alternative coin. because many peoples in china were selling out their coin of course it means will also ICO lost their investors in bulk due to so many investors came from China.

[TastyChillySauce00]

Speaking of the given news. The ICOs which are currently running will just run normally, Investors' origin isn't just from China but from many parts of this world.
about the 2nd point, the "already successful" ICOs will seem to not be able to refund the money invested by China investors unless the devs of the ICO are living in China and will forcefully obey the regulation. The devs could just refuse anyway since they've given the exchange for Chinese investors' money which is in form of token and coins. I'm pretty sure that many investors have liquidated their token and coins before this news released by the Chinese government.

[civilufo]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

I dont think Chinese government like crypto currency. But they will want control it or do something like that. Look at their FireGreatWall. They want control everything

Yes, I agreed on your point. China government do not like crypto currency because they can't control it. Sooner or later, there will be a bunch of rules and regulations on crypto currency not only applicable to ICO.

[nick_nick]

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. 

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.

That's very good thing from their side. I thought I will loose all my investment in NEO. People are using ICO as a means of making a fortune overnight.

[nick_nick]

Speaking of the given news. The ICOs which are currently running will just run normally, Investors' origin isn't just from China but from many parts of this world.
about the 2nd point, the "already successful" ICOs will seem to not be able to refund the money invested by China investors unless the devs of the ICO are living in China and will forcefully obey the regulation. The devs could just refuse anyway since they've given the exchange for Chinese investors' money which is in form of token and coins. I'm pretty sure that many investors have liquidated their token and coins before this news released by the Chinese government.

I read this morning on reddit that some buyers don't want the refund because they will loose much of their investment. However, others still believe that china will still be the hub of ICO and cryptos after this regulation. I don't know how this can be if the government is able to control crypto currencies.
If the government is able to control it the crypto will take to form of paper money which we want to avoid.

[Teraboy]

calm down guys, the effect will be temporary, the crypto world will soon be able to overcome these regulations issue and do your remember what's the point of the cryptocurrency creation?
it's to make them independent from the government. cryptocurrency is made for freedom. even if the regulation will affect the market.

[nick_nick]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

I dont think Chinese government like crypto currency. But they will want control it or do something like that. Look at their FireGreatWall. They want control everything

Yes, I agreed on your point. China government do not like crypto currency because they can't control it. Sooner or later, there will be a bunch of rules and regulations on crypto currency not only applicable to ICO.

I think the Chinese were so much involved in crypto currencies because they're are not happy with how government autonomously control their currency. so if the government is able to control cryptos too, many will stop investing in crypto currencies.

[nick_nick]

There was one funny joke circulating on the social media that, "Anything that Chinese ban invest in it".

I didn't understand because I don't have any information of things that China banned but was awesome and still survived.

if someone can give me examples, it will be great  

[bobq]

I think it is more an internal Chinese issue, which will affect Chinese ICOs. I don't know how the Chinese government could efficiently stop their own citizen to buy on foreign ICOs.

[nick_nick]

I think it is more an internal Chinese issue, which will affect Chinese ICOs. I don't know how the Chinese government could efficiently stop their own citizen to buy on foreign ICOs.

But can't the citizens hide under VPN to participate in ICOs?

[NJB18]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

Most probably. This is nothing more than a way for the chinese government to put some regulation to this ICO. This is a move to stay away from opportunistic projects using ICOs to get chinese investors to get some money from their pockets but end up with nothing in return. Well, hopefully this is just this. Otherwise, we will be suffering together.

[daadog]

They wouldn't ban it if it doesn't scare them, everyone wants a piece of the cake. Sucks though to do it this way.

[Marco Ambrusini]

The Chinese government has always been loyal to the crypto currency, and therefore I believe that the ban on holding an ICO is not an attack on the whole of the crypto currency. Apparently, we are talking about streamlining this process and its release from scammers. So in this prohibition there is nothing terrible.

yh i believe this is not suppose to create any scare,the ban is temporal and is being placed to control the rampant increase of ICO's .
It is necessary to screen and seperate the genuine ones from the fake ones.

[NL-Bitcoin]

China is panic selling
For example look at NEO bought some for 464900 satoshi yesterday and they are now back at 520000.
Every downside has an upside!