Effects of ICO ban in China

[bitroxis]

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.

Regulation would help and prevent a lot of scams, I agree. But to maintain the original idea of cryptocurrencies, shouldn't these regulations also come from the crypto community, rather than an exterior organism such as a national state?

[TrumpD]

The effects are massive IMO. It preceded and started the whole dip in price, I doubt that the price would be where it is now, without the China ICO ban. The thing is that it has also taken although coins with it.It might take a while to recover, but the price will surely rebound.

[juicejoyce]

The effects are massive IMO. It preceded and started the whole dip in price, I doubt that the price would be where it is now, without the China ICO ban. The thing is that it has also taken although coins with it.It might take a while to recover, but the price will surely rebound.

Yes, I agree with you, China has a very great crypto market, also there are some famous Chinese coins like NEO, so I think the ICO ban and exchange regulation will have great effect on the global market.

[Morphling]

The effects are massive IMO. It preceded and started the whole dip in price, I doubt that the price would be where it is now, without the China ICO ban. The thing is that it has also taken although coins with it.It might take a while to recover, but the price will surely rebound.

maybe the market will cool down for several years like 2013, after all, the market has pumped since the beginning of this year, its not strange the market turn to another way

[Olatunjex]

The effect is  not only on the ico its affecting  the crypto market wouldn't be surprise if bitcoin get down to $3k

[cryptopreacher]

I believe China wants just to regulate exchanges and cryptocurrency in general, so it can be centralized and regulated.

[finaleshot2016]

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. 

China ban ICO because they were alarmed. We assumed at first that ICO is just a small market. The first seven months of this year, there are 65 ICOs that raised 400$ M then july to august there are almost 750$M funds. It will definitely affect the economy of china.

[minbosen]

I believe China wants just to regulate exchanges and cryptocurrency in general, so it can be centralized and regulated.

I think so, the cryptocurrency will be regulated by the government since it is really a big market now, without regulation, the economy maybe effected in their opinion.

[szafa]

I dont see any effects.

[reymarkperry]

I dont see any effects.

Really? Bitcoin comeback 3k5$ ETH comeback 200$. You still think any effect? Or you hold other coin

[GazorpPozorpec]

Stop spreading these rumors! The government of China is still nothing confirmed and not saying to ban ico! The only true news at the moment, is closing down bitcoin exchanges.

[MiBambino]

Stop spreading these rumors! The government of China is still nothing confirmed and not saying to ban ico! The only true news at the moment, is closing down bitcoin exchanges.

Isn't that enough for you? Why would an exchange voluntarely close its doors? The government wants a piece of the pie, and if they can't have it, they'll make sure no one gets pie in a very long time. Mark my words, we'll end 2017 below the 100 billion cap

[s90x]

Still nothing concrete but market is getting uneasy now, another massive drop may be coming soon, too bad I invested at the top of the market

What to acquire in this firesale  or just stay away.

[diskodasa]

Stop spreading these rumors! The government of China is still nothing confirmed and not saying to ban ico! The only true news at the moment, is closing down bitcoin exchanges.

ya. This is just some whale trick to make new trader just join crypto world panic sell. Everybody need calm down now

[yunuzov]

I happen to believe this is not a permanent ban. We can clearly see the effects of it when we check the market priceses but i'm almost sure things will turn back to normal in no time. Best thing to do now is not to panic. Crypto economy is way bigger now compared to 2-3 years ago so it's much harder to do a permanent damage to it.

[86B]

I believe China wants just to regulate exchanges and cryptocurrency in general, so it can be centralized and regulated.

Decentralized Exchanges like the Blocknet should give Chinese traders a breath of fresh air.  A fully decentralized trustless atomic swap exchange that can't be shut down by any government. UI product to be rolled out in several months!

[MiBambino]

I believe China wants just to regulate exchanges and cryptocurrency in general, so it can be centralized and regulated.

Decentralized Exchanges like the Blocknet should give Chinese traders a breath of fresh air.  A fully decentralized trustless atomic swap exchange that can't be shut down by any government. UI product to be rolled out in several months!

What happens when China prosecutes citizens who send money to those exchanges? They did worse things to their people before.

[86B]

I believe China wants just to regulate exchanges and cryptocurrency in general, so it can be centralized and regulated.

Decentralized Exchanges like the Blocknet should give Chinese traders a breath of fresh air.  A fully decentralized trustless atomic swap exchange that can't be shut down by any government. UI product to be rolled out in several months!

What happens when China prosecutes citizens who send money to those exchanges? They did worse things to their people before.

That's the thing - the exchange is your wallet and the technology acts as a router broadcasting the orderbook. You are in possession of your coins at all times as these are wallet to wallet trades!

[Btcvilla]

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. 

the real effects we can see from the slope that occurred late this.

Of course this is obviously China behind the decline of bitcoin. all we can see from the television ad impressions, social media news so big rumors of China.

and we can feel the effect now.

[Timeclo]

I think this will have a short term effect downfall but in the long term, a better improvement. This stops ICO scams and supports the established cryptos in china. The ban on exchanges suck and they will need the right licenses to operate again.