Effects of ICO ban in China

[rainbow169]

Chinese economy is not currently benefitting from the ICO nor from crypto trading. It has been seen rather as an destabilizer to the society and for money laundering. It is probably understandable for the regulatory body to take drastic action to ban ICO and even crypto-fiat trading completely as it's a year about financial de-risk and social hamonisation, in particular ahead of the government election in Oct. There might be interesting development after election but we will see.

[jayc89]

Chinese economy is not currently benefitting from the ICO nor from crypto trading. It has been seen rather as an destabilizer to the society and for money laundering. It is probably understandable for the regulatory body to take drastic action to ban ICO and even crypto-fiat trading completely as it's a year about financial de-risk and social hamonisation, in particular ahead of the government election in Oct. There might be interesting development after election but we will see.

I am pretty sure that this Chinese ICO trading removal won’t last that long considering how many people out there that want to purchase coins that will make them more Bitcoins. It is only a matter of time till the people that want to purchase the coins purchase the coins from another Bitcoin Exchange that doesn’t feature a centralized economy.
Centralized trading is not a place for Bitcoin unless there is a person that wanted to purchase coins while having a large fee attached to it for some unknown reason though the trader will realize that they are still being tracked while making those purchases even with the rules not set in place.

[kynaz]

Chinese economy is not currently benefitting from the ICO nor from crypto trading. It has been seen rather as an destabilizer to the society and for money laundering. It is probably understandable for the regulatory body to take drastic action to ban ICO and even crypto-fiat trading completely as it's a year about financial de-risk and social hamonisation, in particular ahead of the government election in Oct. There might be interesting development after election but we will see.

I am pretty sure that this Chinese ICO trading removal won’t last that long considering how many people out there that want to purchase coins that will make them more Bitcoins. It is only a matter of time till the people that want to purchase the coins purchase the coins from another Bitcoin Exchange that doesn’t feature a centralized economy.
Centralized trading is not a place for Bitcoin unless there is a person that wanted to purchase coins while having a large fee attached to it for some unknown reason though the trader will realize that they are still being tracked while making those purchases even with the rules not set in place.

I agree with you China can not remove the ICO because this is the trend of the future and the ban will only last for weeks or months. However, the ban has reduced all Altcoin in just a few days. I hope China will soon have many safeguards and updates on good news.

[oreits11]

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.

yes i guess so as the use with the ICO should gains with the chance as the colaterally connected with the customs as the collegues of the WTO as they

have with the customs on amendment of the general action on tariff and trade.

as the dumping theory of the china government as allowing less moderated buyer to enter market should be appealed as they might prepare with the

better customs on beginning reference as exchanging potentials as unit with the work of qualification with the business of finance investing.

[MiBambino]

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 .

Indeed, this will only help our cause in the long haul

[12retepnat34]

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.

Yes you right! but I  think this ICO ban in China is just temporary because cryptocurrencies is an opportunity and Chinese people are also using this crypto, maybe they restore the ban if they resolve that problem and bitcoin value will rise again.

[senin]

The Chinese government did not prohibit the ICO or the crypto currency. This unreliable information arose because of a wrong translation from Chinese into English. The Chinese government is carrying out a number of measures aimed at getting rid of possible fraud in order to make the activity related to the use of crypto currency more transparent and to exclude the use of untrue information and forged documents. In the end, it should be just to the benefit of the crypto currency.

[SpearTackle]

I don’t think their businesses that are accepting or investing to an ico will not totally shutdown, you know Chinese are very wise, they ban the ico so that they can create their own ico and cyptocurrency, to make it number one and to make it the most used ico worldwide. They are just cooling down, sooner or later most coin came from china. But most ICO was welcomed to Canada and Isle of Man so still there will be lots of investors even if China prevented it. Just an opinion.

[MiBambino]

I don’t think their businesses that are accepting or investing to an ico will not totally shutdown, you know Chinese are very wise, they ban the ico so that they can create their own ico and cyptocurrency, to make it number one and to make it the most used ico worldwide. They are just cooling down, sooner or later most coin came from china. But most ICO was welcomed to Canada and Isle of Man so still there will be lots of investors even if China prevented it. Just an opinion.

that's indeed very possible, i too think they're just trying to get on the train just like everyone else, only they have the power to momentarely stall it so they can get better seats

[inthelongrun]

I don’t think their businesses that are accepting or investing to an ico will not totally shutdown, you know Chinese are very wise, they ban the ico so that they can create their own ico and cyptocurrency, to make it number one and to make it the most used ico worldwide. They are just cooling down, sooner or later most coin came from china. But most ICO was welcomed to Canada and Isle of Man so still there will be lots of investors even if China prevented it. Just an opinion.

that's indeed very possible, i too think they're just trying to get on the train just like everyone else, only they have the power to momentarely stall it so they can get better seats

That is the one thing this crypto world is very vulnerable, the dip in price due to big players in market, or in other words manipulation--whether intentional or not. China is considered a big player because of the huge number of chinese people in the crypto market. This is like big whales also that can cause the prices to dip and rise according to their actions.

[Morphling]

I don’t think their businesses that are accepting or investing to an ico will not totally shutdown, you know Chinese are very wise, they ban the ico so that they can create their own ico and cyptocurrency, to make it number one and to make it the most used ico worldwide. They are just cooling down, sooner or later most coin came from china. But most ICO was welcomed to Canada and Isle of Man so still there will be lots of investors even if China prevented it. Just an opinion.

that's indeed very possible, i too think they're just trying to get on the train just like everyone else, only they have the power to momentarely stall it so they can get better seats

That is the one thing this crypto world is very vulnerable, the dip in price due to big players in market, or in other words manipulation--whether intentional or not. China is considered a big player because of the huge number of chinese people in the crypto market. This is like big whales also that can cause the prices to dip and rise according to their actions.

China supports blockchain technology but the crazy ico and speculation, they think blockchain, bitcoin and the speculation are three different things, the blockchain tech will do help to the economy development, but the ico which of majority are scams will lead to group accident, especially the 19th National Congress will hold next month

[rosygreat]

The ban won't affect bitcoin so much because it's only in China.

[Sungoku]

The ban won't affect bitcoin so much because it's only in China.

I think the effect of china forbid ico may not have too much impact on bitcoin, but on altcoin,
yesterday until now aja price is still down

[adam1230]

these small thing wont effect BTC and altcoins.
When it was 2012 yes these were big problems but now these are just small noises for crypto currencies.

[Bounty_Hunter]

That's the consequences of the ban in China, it's been just over a week and all altcoins are already growing)

[valov88]

I think that bans are a strategy for governments, they want to regulate the technology to have some control of trade markets. In China startups raised almost 2.6 billion yuan ($400 million) in the first half of the year. This is too much value for a authoritarian governemnt. But is so important for the Chineese economy that I think the ban will only be applied in the short term. In months to come we will see regulations.

yup gov just want control. no reason for they ban an effective way to make money like this

I read an article that china's ban in infact only temporary until the figure out how to regulate ICOs.

[bitcoinmasterlord]

The ban won't affect bitcoin so much because it's only in China.

I think the effect of china forbid ico may not have too much impact on bitcoin, but on altcoin,
yesterday until now aja price is still down

It affected to altcoins but not bitcoins. After announcing this news suddenly all coins price started to dump. That movement was affected by China. But now what we are seeing low price for all altcoins it is not affected by China. This is a normal dump let's check today all most all coins are in green.

[uelque]

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

Maybe it would just affect the price of cryptocurrecny on the first place but maybe it will just last for a week. Because based on market cap, cryptocurrencies are slowly rising up.

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

Based on what the news said, they will. But I guess it would only be in china. I believe it wouldn't affect some successful ICO's.

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

And yes it is good for government because local currencies will be used, which is controlled by them. So there is no more threat on local currencies, because they sees it as a threat. That's why they banned ICO's.

[nelmari]

Although it did have bad effects to the market when the news suddenly came out most especially those that are involved with the blockchain related to ICO's, I can safely say they are trying to recover after the news. It is not always bad days everyday so for sure the dumping of coins won't be happening forever, of course there are good days too. I think the ICO ban in China is just a hype, a temporary hype so people would panic and when they sell out the coins at a much cheaper value; of course investors would then take advantage and buy the coins thrown.

[mayan251]

For me, ICO is forbidden is good on the market, because many ICO are now on the market of air to get money. Prohibited or regulated is a good signal, this effect is not done after ICO in CN, must be carried out in CN, where the thought in this way, the development of ICO from the CN, but the chain block is a good start, let the real work of the team went to the stage, you can say that the development of after the block chain will get better and better