Effects of ICO ban in China

[stupid_seb]

Its a very big effect in crypto, because China is a large country and China has the largest population in the world so theres a possibility that the largest population that uses bitcoin are chinese nationals, and that is a very big effect of ico ban in China, the earnings of the crypto is lessened and its a big deal for Crypto.

It is time to put a bit of numbers on the table guys.
Since the "Chinaban episode" here's the status:

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

CHINA IS NOT NUMBER ONE ANYMORE (regarding bitcoin)

Actually, it counts for less than 7% of the bitcoin trades...


Regarding mining, they still have some hashpower, and cheap electricity but their neighbors are waking up:

https://www.coindesk.com/90-million-budget-japans-gmo-reveals-cryptocurrency-mining-details/



Here's for the FACTS.
Now do your math, and decide if you wanna buy, sell, or hold.

Thanks for the input, very informative! In your opinion, the void that China leaves, will it be quickly filled by others, say Japan, or Europe? Do you think they will be able to do that quickly?

Yes. They will be replaced
But, losing China is still painful. More people = more adoption

The best we can expect now is a highly refulated China. That would be ideal for Bitcoin.

[Taki]

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. 

We have already seeing the side effect of the ICO and local bicoin exchange ban by the China government. Bitcoin market value really went down from $4700 or there about to $3,150. But currently the panic sell is over and the price has move to $3,825. 32 as at time of this post, which shows that in no time, bitcoin value will return to $4,600.

Yes bitcoin now is recovering and I can attest to it. Those price dump is temporary and something like a correction. Thou we admit that bitcoin ba on ICO and closing some exchanges really affects bitcoin price value but that is only temporary.

Indeed, the chinese government want to get as much out of it as possible, and without regulations that's virtually impossible. They won't abandon a cashcow like cryptocurrency, but they will ban it for now ot A. Install regulations, and B. lower the price so they can buy in cheaper

They cant easily quit on cryptocurrency because they see that they can able to make money with it and now they do really have the plans on regulating exchanges.It is really a good news for us bitcoin holders since they are not totally banning those exchanges but only on regulating them.Well expected prices would recover soon.Abandoning cryptocurrency would really be an impossible thing for them.

Scam ICOs were really parasites on bitcoin and everything that was join to this meaning. I am agree with you. All Chinese decisions about exchanges and ICOs is a step to bitcoin regulation and I think they started it correctly. Yes, we may panic about that now, but it's only cause of we used to accept bitcoin uncontrolled for many years and now this period is passing. I think after all necessary moves about crypto-currencies' regulation we will get safe and trustworthy product which price maybe will not raise so fast, but it's really going to become money of the future.

[dunfida]

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. 

We have already seeing the side effect of the ICO and local bicoin exchange ban by the China government. Bitcoin market value really went down from $4700 or there about to $3,150. But currently the panic sell is over and the price has move to $3,825. 32 as at time of this post, which shows that in no time, bitcoin value will return to $4,600.

Yes bitcoin now is recovering and I can attest to it. Those price dump is temporary and something like a correction. Thou we admit that bitcoin ba on ICO and closing some exchanges really affects bitcoin price value but that is only temporary.

Indeed, the chinese government want to get as much out of it as possible, and without regulations that's virtually impossible. They won't abandon a cashcow like cryptocurrency, but they will ban it for now ot A. Install regulations, and B. lower the price so they can buy in cheaper

They cant easily quit on cryptocurrency because they see that they can able to make money with it and now they do really have the plans on regulating exchanges.It is really a good news for us bitcoin holders since they are not totally banning those exchanges but only on regulating them.Well expected prices would recover soon.Abandoning cryptocurrency would really be an impossible thing for them.

True, but don't forget they actually are closing down their exchanges, with one closing sept. 30th and two more are planned by the end of october. It's possible the slight recovery we're seeing is just a temporary bounce that occurs after every single dip/crash

Yeah, I didn't really forget that thing on which they do decide to close more exchanges on this last week of this month which would really make an another dip on price for sure but after that event we would eventually see recovery again just like on whats happening as of now which for short traders I would say $4200-4100 would be a sweet spot on selling their bitcoin to ensure profits and buyback again later on the end of this month.

[MiBambino]

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. 

We have already seeing the side effect of the ICO and local bicoin exchange ban by the China government. Bitcoin market value really went down from $4700 or there about to $3,150. But currently the panic sell is over and the price has move to $3,825. 32 as at time of this post, which shows that in no time, bitcoin value will return to $4,600.

Yes bitcoin now is recovering and I can attest to it. Those price dump is temporary and something like a correction. Thou we admit that bitcoin ba on ICO and closing some exchanges really affects bitcoin price value but that is only temporary.

Indeed, the chinese government want to get as much out of it as possible, and without regulations that's virtually impossible. They won't abandon a cashcow like cryptocurrency, but they will ban it for now ot A. Install regulations, and B. lower the price so they can buy in cheaper

They cant easily quit on cryptocurrency because they see that they can able to make money with it and now they do really have the plans on regulating exchanges.It is really a good news for us bitcoin holders since they are not totally banning those exchanges but only on regulating them.Well expected prices would recover soon.Abandoning cryptocurrency would really be an impossible thing for them.

True, but don't forget they actually are closing down their exchanges, with one closing sept. 30th and two more are planned by the end of october. It's possible the slight recovery we're seeing is just a temporary bounce that occurs after every single dip/crash

Yeah, I didn't really forget that thing on which they do decide to close more exchanges on this last week of this month which would really make an another dip on price for sure but after that event we would eventually see recovery again just like on whats happening as of now which for short traders I would say $4200-4100 would be a sweet spot on selling their bitcoin to ensure profits and buyback again later on the end of this month.

I could see that happening, yes

[JeffBrad12]

Yeah, I didn't really forget that thing on which they do decide to close more exchanges on this last week of this month which would really make an another dip on price for sure but after that event we would eventually see recovery again just like on whats happening as of now which for short traders I would say $4200-4100 would be a sweet spot on selling their bitcoin to ensure profits and buyback again later on the end of this month.

I could see that happening, yes

how can all of you sure that there'll be an opportunity to buyback again after selling on $4200? I don't think so. as bitcoin has now evolve and sucesfully resolve the chaos which recently occured it have the potential to reach new ATH or even back to its near current ATH price again. Just my opinion that there might not exist the chance of buying back bitcoin at the price of $4200 or maybe im wrong.

[MiBambino]

Yeah, I didn't really forget that thing on which they do decide to close more exchanges on this last week of this month which would really make an another dip on price for sure but after that event we would eventually see recovery again just like on whats happening as of now which for short traders I would say $4200-4100 would be a sweet spot on selling their bitcoin to ensure profits and buyback again later on the end of this month.

I could see that happening, yes

how can all of you sure that there'll be an opportunity to buyback again after selling on $4200? I don't think so. as bitcoin has now evolve and sucesfully resolve the chaos which recently occured it have the potential to reach new ATH or even back to its near current ATH price again. Just my opinion that there might not exist the chance of buying back bitcoin at the price of $4200 or maybe im wrong.

History has a tendency to repeat itself. Even if it'd rise to 6.000$ there's always gonna be some exchange/VC/government official/event/... that'll create FUD, bringing prices back down. With all the uncertainty right now about China, it wouldn't surprise me to see bitcoin go up to 5K and drop back down to 3.5K in a matter of days

[Mr]

Its a very big effect in crypto, because China is a large country and China has the largest population in the world so theres a possibility that the largest population that uses bitcoin are chinese nationals, and that is a very big effect of ico ban in China, the earnings of the crypto is lessened and its a big deal for Crypto.

It is time to put a bit of numbers on the table guys.
Since the "Chinaban episode" here's the status:

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

CHINA IS NOT NUMBER ONE ANYMORE (regarding bitcoin)

Actually, it counts for less than 7% of the bitcoin trades...


Regarding mining, they still have some hashpower, and cheap electricity but their neighbors are waking up:

https://www.coindesk.com/90-million-budget-japans-gmo-reveals-cryptocurrency-mining-details/



Here's for the FACTS.
Now do your math, and decide if you wanna buy, sell, or hold.

Thanks for the input, very informative! In your opinion, the void that China leaves, will it be quickly filled by others, say Japan, or Europe? Do you think they will be able to do that quickly?

Yes. They will be replaced
But, losing China is still painful. More people = more adoption

The best we can expect now is a highly refulated China. That would be ideal for Bitcoin.

Nah, I do not think so. Most of the Chinese are newbie in this field and sellers are new to bitcoin and the cryptocurrency. The ban will make bitcoin no longer be controlled by the CHina anymore and it is a good sign for all of us. More countries will have a chance to hold bitcoin and store bitcoin inside their computer. We need adoption from knowledgable people, not from new one

[sharedminers]

We dont need China anymore. Japan will be replace China

[cryptonianz]

Eventually, it will help the real ICO's proceed with there projects!

[zxl912157]

We dont need China anymore. Japan will be replace China

It is clear 50% of bitcoin users exist in Japan, and Japan is very smart utilizing the market situation. When China imposed a temporary ban in Japan 100% Their government regulates the use of bitcoin.
it is real that Bitcoin does not need China. and China has done something stupid.

[cp_underground]

about effect ico banned in china i think bitcoin price is down, like BTCChina is shutting down many bitcoin holder in china panic sell their bitcoin.

[Affilate User]

Corrections are welcome by me A lot of money going into projects that don't even intend to offer anything.

You are wrong, those who are really serious about running the project I see get a lot of money from ICO, unless they only offer coins only, I am sure no one will invest.
Look at ICO results before commenting like this

[ap3311]

china ,will make a statement on these recent events in this Wednesday.Please take care everybody on Wednesday.take care to avoid as much purchases and investments as possible.if negative news spreads on Wednesday, the markets could turn upside down again.I think it is necessary to make it a profit. I'm not sure exactly what we can do in this matter. but our priority is not to loss.if we can hear positive news, I think the BTC price will be 6,000 dollars very fast.If we can not hear it, I think it might fall again. After the last events we've been through, many people have suffered a lot. those who really follow the market have multiplied their profits.

[MiBambino]

china ,will make a statement on these recent events in this Wednesday.Please take care everybody on Wednesday.take care to avoid as much purchases and investments as possible.if negative news spreads on Wednesday, the markets could turn upside down again.I think it is necessary to make it a profit. I'm not sure exactly what we can do in this matter. but our priority is not to loss.if we can hear positive news, I think the BTC price will be 6,000 dollars very fast.If we can not hear it, I think it might fall again. After the last events we've been through, many people have suffered a lot. those who really follow the market have multiplied their profits.

Where did you read/hear that?

[supine]

We dont need China anymore. Japan will be replace China

It is clear 50% of bitcoin users exist in Japan, and Japan is very smart utilizing the market situation. When China imposed a temporary ban in Japan 100% Their government regulates the use of bitcoin.
it is real that Bitcoin does not need China. and China has done something stupid.

I agree with this, they say that only a small amount of investors are from China. I think this will be good for bitcoin users. There might be some short-term effect of the ICO ban in China, but I think crypto currency was already done mending the effect. I think that China made a huge mistake because of this.

[Aismabbs]

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. 

That is very unfortunate ro us investors on icos. Because banning it in china makes the value falls. Because no one is china have an access to it which means the population of cryptos had reduced. And that leads to deflation of the altcoin value and even the bitcoins. May are panicking that this might be the end of all of these. But I suggest that this is just part of the challenges that the cryptocurrency will experience.

[Shinpako09]

Well, that would only affect in the start. For sure few more days, weeks, or months just like what happened in btc, it will bounce back again and would be able to raised more funds for their project. We will become succesfull without them. China is just one compared to many of us and for sure there will be one country that will step up and replace them, it's either US or Japan.

[blakeh]

We've certainly had a nice bounceback so far... I think it's back up from here now that the bad news has passed.  Unless of course another dark cloud comes along.

[MiBambino]

We've certainly had a nice bounceback so far... I think it's back up from here now that the bad news has passed.  Unless of course another dark cloud comes along.

September 30th exchange closing, and one of these days we'll get an announcement about the future after closing them. Either we'll dip down again and go up in a few months, or we'll go up

[nick_nick]

We've certainly had a nice bounceback so far... I think it's back up from here now that the bad news has passed.  Unless of course another dark cloud comes along.

September 30th exchange closing, and one of these days we'll get an announcement about the future after closing them. Either we'll dip down again and go up in a few months, or we'll go up

Are we going to experience another crunch? I thought the heat is over and everything will move smoothly. why should we expect another pull back?