Effects of ICO ban in China

[HauntingT-Rex]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

its true bitcoin had a great power in cryptocurrency. and i think china cant ban ico forever cause china need blockchain in their economy and this is the revolution technology that need to be apply to all things in our live especially in business. so i believe there will be time where all of people understand blockchain and apperciate cryptocurrency as trade item.

I dont know man, china even bans winnie the pooh just because somebody said the minister looked like him lol

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[dewanaga]

now the short side and long side are playing games on the news, when North Korea announance a nuclear explosion test, the btc price will rise up, and when the rumor that China has new policy about cryptos, the market will go down

yup, news about bitcoin even if it's small or big news definitely greatly affects the market price of bitcoin or altcoin,
hopefully all can be stable

[Darker45]

now the short side and long side are playing games on the news, when North Korea announance a nuclear explosion test, the btc price will rise up, and when the rumor that China has new policy about cryptos, the market will go down

yup, news about bitcoin even if it's small or big news definitely greatly affects the market price of bitcoin or altcoin,
hopefully all can be stable

This is crypto life. If news regarding the world, or any country's step for that matter that will have an effect to the world, will have an effect to BTC as well as to the whole crypto community, that simply means that crypto has been integrated to the entire world order. Good news in other word. 

[makishart]

now the short side and long side are playing games on the news, when North Korea announance a nuclear explosion test, the btc price will rise up, and when the rumor that China has new policy about cryptos, the market will go down

yup, news about bitcoin even if it's small or big news definitely greatly affects the market price of bitcoin or altcoin,
hopefully all can be stable

Small news rarely affect the market and some of the big news too, but the release of regulation about the usage of bitcoin in country with major bitcoin power is really affecting, for example, china, russia, japan, and USA, they all bring their affect to the cryptocurrencies in every their release of regulation, and we're now really lucky that china has lost its domination.

[Jamjamz30]

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.

I agree to this. We all know that scammers / and con-artists are very wise. They know how to plan and they really study what are the in demands today. ICO can easily be scammed, you just need to have a structured and good to be true website and plans and investors will just go invest to those. Actually ICO should really be regulated.

May I also ask, if a country will be banning activity on the internet, can they just use VPN to mask IP address and continue with these like ICO? Especially if the ICO comes from different country. Sorry for my newbie question.

I also agreed, that most of the scammers rises up in the ico. They are quite smart actually in terms of getting money in different investors here. So the effect of what China did was the value of bitcoin fell down in a span of weeks but then now little by little recovered to its regular value or more.

[asdalani]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

[MiBambino]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

[HauntingT-Rex]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

shortsighted? people can already easily get around the great firewall of china with a vpn no problem, yet you act as if people will have more problems using bitcoin, ok yeah sure

[MiBambino]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

shortsighted? people can already easily get around the great firewall of china with a vpn no problem, yet you act as if people will have more problems using bitcoin, ok yeah sure

You clearly are a rational guy, but you forget the vast majority of investors are emotional traders. If more people would look at this situation the way you do, there would be no panic sell offs. But that's not the case. I know for a fact a ton of Chinese investors invest in ICO's because someone else told them to. They don't understand the product, they have zero idea what they're investing in. In other words, they just do what they're told, no questions asked. If China issues a warning saying all Chinese people investing in ICO's/cryptos will be prosecuted, those people won't think twice about taking out their money, no matter how easy it would be for people like you and me to find a way around it.

[Dart18]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

shortsighted? people can already easily get around the great firewall of china with a vpn no problem, yet you act as if people will have more problems using bitcoin, ok yeah sure

You clearly are a rational guy, but you forget the vast majority of investors are emotional traders. If more people would look at this situation the way you do, there would be no panic sell offs. But that's not the case. I know for a fact a ton of Chinese investors invest in ICO's because someone else told them to. They don't understand the product, they have zero idea what they're investing in. In other words, they just do what they're told, no questions asked. If China issues a warning saying all Chinese people investing in ICO's/cryptos will be prosecuted, those people won't think twice about taking out their money, no matter how easy it would be for people like you and me to find a way around it.

Crystal clear. That is how it will be.
The prevention of their own people getting scammed is just a front. This is really something else and the reasons are not yet confirmed. If they want it they will do it. That is how their government works.
Look at how internet connection is so hard in some parts of their countries. This is defense issues in my opinion.

[reputation]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

shortsighted? people can already easily get around the great firewall of china with a vpn no problem, yet you act as if people will have more problems using bitcoin, ok yeah sure

You clearly are a rational guy, but you forget the vast majority of investors are emotional traders. If more people would look at this situation the way you do, there would be no panic sell offs. But that's not the case. I know for a fact a ton of Chinese investors invest in ICO's because someone else told them to. They don't understand the product, they have zero idea what they're investing in. In other words, they just do what they're told, no questions asked. If China issues a warning saying all Chinese people investing in ICO's/cryptos will be prosecuted, those people won't think twice about taking out their money, no matter how easy it would be for people like you and me to find a way around it.

how will you say its Chinese investor having no idea what they are doing? i think most people across the world did this, as the people who know little about cryptos tnter the market just because of the profits, the government must take action, otherwise it will be a diaster

[Xenoph0bia]

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 the ICO ban in china has caused a fall in Bitcoin price and it is taking Bitcoin time to recover it's lost value. Before the ban, the value of Bitcoin was around 4400$ which has reduced to around 3700$ after the ban.
I think the ban will prevent the ico scams which are common but some genuine developers will not be able to develope their projects as they won't be able to raise money through ICOs

[NoNetwork]

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.

By doing an investigation about who really are the scammers, I think that would be a long time progress to do since they need not to just go make an investigation, they also need to be inside that organization to be able to identify if that specific organization is not doing what it suppose to do.

That is true that many altcoins have already the trust of these people but since some of the ICOs are just fake demands or something, so still there are things that needs to consider.

[HauntingT-Rex]

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.

By doing an investigation about who really are the scammers, I think that would be a long time progress to do since they need not to just go make an investigation, they also need to be inside that organization to be able to identify if that specific organization is not doing what it suppose to do.

That is true that many altcoins have already the trust of these people but since some of the ICOs are just fake demands or something, so still there are things that needs to consider.

There are still tell tale signs of a scam that you can generally follow, stuff like no withdrawals, super high % rewards, ico, and shotty looking websites

[MiBambino]

Their ban was powerful, made bitcoin dumped to 3000 usd, but now it is 3700 usd again. They can't prevent the future.

Of course the Bitcoin market will not be collapsed by Chinese people and I'm sure if China disappeared then the cryptoucurrency market will probably be more stable and will have a good future development path.

They don't have all of bitcoins, that's why their ban just temporarily affecting the market, they're now barely have capital more than 20% of total supply, all the money went to many countries with loose rules.
this ban also bring negative and positive affect to china themselves.
by this i'd say, bitcoin is a top notch future currency.

It's more of a group decision that they have in the higher courts. China can't remove the ico's from the people because there's ways around it their laws.

Read this and ask yourself whether or not this piece of shit country wouldn't go to extreme lenghts to enfore its bans
http://nypost.com/2016/01/03/how-chinas-pregnancy-police-brutally-enforced-the-one-child-policy/

Now i'm not saying this ban is problematic in the long run, because cryptos cannot be stopped, but saying that people will find ways around laws is a little shortsighted when talking about a country that bans and fights everything it doesn't like, controls or understands

shortsighted? people can already easily get around the great firewall of china with a vpn no problem, yet you act as if people will have more problems using bitcoin, ok yeah sure

You clearly are a rational guy, but you forget the vast majority of investors are emotional traders. If more people would look at this situation the way you do, there would be no panic sell offs. But that's not the case. I know for a fact a ton of Chinese investors invest in ICO's because someone else told them to. They don't understand the product, they have zero idea what they're investing in. In other words, they just do what they're told, no questions asked. If China issues a warning saying all Chinese people investing in ICO's/cryptos will be prosecuted, those people won't think twice about taking out their money, no matter how easy it would be for people like you and me to find a way around it.

how will you say its Chinese investor having no idea what they are doing? i think most people across the world did this, as the people who know little about cryptos tnter the market just because of the profits, the government must take action, otherwise it will be a diaster

True, but in China the problem was a bit worse, every day multiple ICO scams appeared with no working product, just a nice whitepaper.

[TracyTStump]

Tell me what you think of this. We all know that scammers / musicians-musicians are very wise. They know how to plan and they really study what the demand is now. ICO can easily be fooled, you just have to have a structured and good website to be right and plan and investors will only invest in those. Actually ICO needs to be adjusted. The price of Bitcoin has fallen sharply, not sure if it has much to do with the recent decline in the ICO though. ICOs mainly correlate with Ethereum, so are the tags. They succeeded before the ban came so I think that Chinese investors investing in the successful ico will not encounter any problems. The real problem is that for the next ico, with the ico command from China, some ICOs must know what will happen without investors from China. thank you very much

[cryptomato]

That is very much expected from China or any other country to try to prohibit those scammers that use the ICO process to get people's money.

[DariaPT]

Well, I think the fair point here that the actual issue which the Chinese government is against - are those scammers who simply hunting for easy-money. But overall I think that is also not the most efficient way to fight those by simply prohibiting all ICOs in China.

[axiline]

I think that the regulation of ICO will do good. Projects will be more transparent and workable!

[diskodasa]

I think that the regulation of ICO will do good. Projects will be more transparent and workable!

ya. no more scam ICO. no more people who just want host an ICO then take all our money and disappear