Effects of ICO ban in China

[Mr.cryptos]

Eventhough i am a newbie in Bitcointalk,  i've been following Bitcoin news for long and I remember in dec 2013 China’s biggest Bitcoin exchange, BTCChina, stopped accepting deposits in Chinese yuan because BTC was banned. Due to this BTC dropped about 50% in value. Now see where BTC is today. Hopely one day the Chinese government will change their mind. 

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[maxsinner]

ICOs were getting out of control and still are actually. Hopefully more and more countries will join China in banning them so we can focus again on real blockchain innovation and don't have to deal with the likes of Paris Hilton and Floyd Mayweather.

What these celebrities are doing to their followers should actually be considered illegal.

[Stavri]

i dont believe this is going to affect on crypto world in long term. Bitcoin and altcoin handled many situations like this. It affects the price for a few days after it people realizes that nothing extraordinary is going to happen and they start to buy again  

[Koadharber]

i dont believe this is going to affect on crypto world in long term. Bitcoin and altcoin handled many situations like this. It affects the price for a few days after it people realizes that nothing extraordinary is going to happen and they start to buy again  

This is true, this wont really be a long term effect on cryptoworld and eventually prices would really recover later on and people would really eager to buy cheap coins because they do really know the potential of the coins they are holding.It does really give some effects but wont really be permanent and the wisest thing to do now is too buy cheap coins and hold them.

[mkhlslkhnv]

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

I agree, they want control everything. I dont expect soft policy from China goverment. Just google "China capital outflow", and cryptocurrencies are the one of ways to withdraw "value" from country. There is strict law about capital outflow. There are dealers in HK and Macao, connected wiht "triads", helping chinese bisinessmen to withdraw money from China. Now bitcoin became that business, and I dont beleive that goverment has positive view about it.

[Emilyearl]

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. 

What I think will happen is there will be some corrections in the market and afterwards everything will normalize. The ICO community will be greatly affected this is due largely to the fact that Chinese are big players and investors in the crypto market. But this is all for regularization of funds.
No government is banning the use of cryptocurrency they all just want to regularize the way through which huge sum of money is raised in a very short period of time.

[Thifruck]

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.  

What I think will happen is there will be some corrections in the market and afterwards everything will normalize. The ICO community will be greatly affected this is due largely to the fact that Chinese are big players and investors in the crypto market. But this is all for regularization of funds.
No government is banning the use of cryptocurrency they all just want to regularize the way through which huge sum of money is raised in a very short period of time.

ICOs inside China are banned. They still can buy and sell cryptos and participate in ICOs from another countries.

What do you think will happen? They will focus in ouside ICOS, and it will increase the demand for our ICOS

[Btc_1856]

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. 

What I think will happen is there will be some corrections in the market and afterwards everything will normalize. The ICO community will be greatly affected this is due largely to the fact that Chinese are big players and investors in the crypto market. But this is all for regularization of funds.
No government is banning the use of cryptocurrency they all just want to regularize the way through which huge sum of money is raised in a very short period of time.

ICOs inside China are banned. The still can buy and sell cryptos and participate in ICOs from another countries.

What do you think will happen? They will focus in ouside ICOS, and it will increase the demand for our ICOS

Yes, we know that soon every government will follow the same rule because some ICO's are not up to the market. Many fake people are launching ICO with no value when the raised huge amount of money without giving any profit to the investors.

[pendekar cinta]

I think making a lot of people more difficult in the business of looking for work in various other fields if the incident about the ico ban realized but with the confidence of many people who still remain faithful to rely on ico as a personal business opportunity would make its existence will not last long and can be reused .

[Thifruck]

I think making a lot of people more difficult in the business of looking for work in various other fields if the incident about the ico ban realized but with the confidence of many people who still remain faithful to rely on ico as a personal business opportunity would make its existence will not last long and can be reused .

Can be. We should look at some countries like CANADA, that has declare ICOs legal and serious. Dimcoin is one of ICOs i am in ( From Canada ).

[trecore4]

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. 

Obviously ICO founder will loose most of the investors from China side as long as they are not figuring out the way to enter the market again. There might be chance that some ICO will declare that there will be no money refunds for china investors because the government has banned them from doing any business with Chinese internet. :-) This advantage might just be taken by ICO groups, anything can happen.

Government banning them to reduce the scam in china economy that's what the news says. Who knows there might be new rules to operate it for better investments.

[nick_nick]

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!

Yes, there will be a comeback. NEO will not die.

[nick_nick]

I think making a lot of people more difficult in the business of looking for work in various other fields if the incident about the ico ban realized but with the confidence of many people who still remain faithful to rely on ico as a personal business opportunity would make its existence will not last long and can be reused .

Can be. We should look at some countries like CANADA, that has declare ICOs legal and serious. Dimcoin is one of ICOs i am in ( From Canada ).

Hey, Thanks for the info I will check it out.

Has anyone invested in DimCoin?

[VeeraS]

I think there is no meaningful effect for bitcoin and altcoin. china forbid only for ico. probably due to tax issues or something else. I do not know for sure. it's just that the policy of a country.

[nick_nick]

I think there is no meaningful effect for bitcoin and altcoin. china forbid only for ico. probably due to tax issues or something else. I do not know for sure. it's just that the policy of a country.

I think there is an effect in the altcoin market because as far as i remember, NEO was developed to be chinese Ethereum and since that news dropped, there has been a significant drop in NEO price. Others are even speculating that neo will die.

Let's hope for another way for out in this.

[ropyu1978]

I think that's a good move for a country. secure the community so as not to fall for the ico trickster.
but this will not last long. I think the next few months will be stable as usual. china may give permission to ico good and trusted.

[vfrcbv91]

I think that's a good move for a country. secure the community so as not to fall for the ico trickster.
but this will not last long. I think the next few months will be stable as usual. china may give permission to ico good and trusted.

I agree with you it will not affect the market in the long term. I think China will reconsider their decision otherwise they can lose their leading position in the cryptocurrency industry.

[irmasany]

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. 

I think because of the effects of china the price slices occur on bitcoin and alcoin.
I strongly believe his investors are afraid to invest.
and I experienced the same thing. I hope this will not last long.

[RKh]

Best time for anonymous cryptocurrency,
projects like XSPEC with intergrated Tor in its client that works in China - old saying once again "you cant stop the internets"

[bhoybitcoin]

This will create such a big impact in altcoin world. Like what is happening right now, panic selling due to banning of ICOs. I think this is totally ridiculous. China have the highest BTC members and they are not thinking about the pros and cons of their decision. They're gone mad, really.