Effects of ICO ban in China

[novaprime]

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

This is only a temporary act of the Chinese government, if they have better plans to build an ICO community then there will definitely be a lot of good projects and fewer fraudulent projects. I think if that happens Bitcoin prices could increase by more than $ 10,000

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[ololajulo]

 ICOs need  to be controlled, And I am expecting more from other countries.If the control is not countries i expect it from other cryptocurrency communities. The ban was because the country is technologically developed and they understand the effect of possible scam at early stage of large adoption of ICO.

[magmar]

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. 

Cryptocurrency being banned ny the chinese government, i think that is not a permanend ban. I know that someday it will be legal again, and that caused the price to go down. A lot of people panic and thought that this was the end of all the cryptos, but I know it isn't this is just a part of our business. I dont think so that the money has been regunded because how is gonna happen if they cannot access it any more. But that a huge money maybe they are just threatened by the capabilites of icos and the industry.

[magz]

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 am not in favor of totally banning the ICOs in China. Because ICOs is very helpful for those dev teams to have financial support to execute their project. We all know there are a lot of great ideas in ICOs. But I want them to be strict and have a policy for those who want to launch their ICO. ICOs is a fundraising for the financial support of certain project. Because of that, those criminals are taking advantage of this kind of fundraising that is why they doing this then after the ICO, they will just disappear. It is called fraud. That is the reason why it is very alarming in China to the point they banned some exchanges and banned those ICOs that they proved as fraud.

[左]

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.

They don't really care about the scams, they care about all that untaxed money they are missing out on.

[indrakusumaindra]

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

yes its what we need and what we hope from temporarily ico ban in china that affect value of ico. despite ico ban regulation from china and korea. there is still a hope from country such as japan who support ICO. I hope japan could change and fix this problem. as we can see its already did a great job by bring back bitcoin price from 3k back to 4k . anyway to make ICO accepted we need a secure way to determined which is scam and which is a true ico with a real project.

[Harriti]

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

This is only a temporary act of the Chinese government, if they have better plans to build an ICO community then there will definitely be a lot of good projects and fewer fraudulent projects. I think if that happens Bitcoin prices could increase by more than $ 10,000

Before the price of Bitcoin increases more than $10,000 it still needs to has a reason. Therefore, the decicion of the Chinese government still enough to affect the price of Bitcoin, but it not much as the past.

[MiXxe]

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.

They don't really care about the scams, they care about all that untaxed money they are missing out on.

That's true because the money or the main currency is slowly taken by the digital currency which has a big effects on their government and now after they processed it maybe they have putted a rule or any amount of tax in using cryptocurrency. Who knows lets wait for any announcement for that.

[Baofeng]

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

yes its what we need and what we hope from temporarily ico ban in china that affect value of ico. despite ico ban regulation from china and korea. there is still a hope from country such as japan who support ICO. I hope japan could change and fix this problem. as we can see its already did a great job by bring back bitcoin price from 3k back to 4k . anyway to make ICO accepted we need a secure way to determined which is scam and which is a true ico with a real project.

For me the banning of ICO will be just temporary. China and South Korea will just put up a regulation so that they can't scam anymore of their citizens specially Chinese. The company should be completely transparent and register everything to the government and they will make a review and release their decision if the ICO can ran in their country. I think the government has the right to protect its people against ICO that are really a scam. So it they are running out to run off people's money, they will have second doubts because they have to full registered every detail to the government body.

[NoNetwork]

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.

They don't really care about the scams, they care about all that untaxed money they are missing out on.

Hmm I have not thought about that. So basically China is just being China in the end huh. They really would not even care if their government are not earning that much of a profit, because of the decentralized concept of the cryptocurrencies - they banned it, so that those people who are earning a lot of money from this community are gonna be forced to go back to work for the government l.

[8rch7]

baned ICO in china i think big or small will definitely have an efect against ICO, one of them lost investor coming from china.
I think the most appropriate way is to control ICO, not with baned ICO.

[bncbnc]

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

yes its what we need and what we hope from temporarily ico ban in china that affect value of ico. despite ico ban regulation from china and korea. there is still a hope from country such as japan who support ICO. I hope japan could change and fix this problem. as we can see its already did a great job by bring back bitcoin price from 3k back to 4k . anyway to make ICO accepted we need a secure way to determined which is scam and which is a true ico with a real project.

No doubt that China has good contribution in the progress of bitcoin, mining and ICOs, But i think that we have to accept the fact that now bitcoin is becoming more introduce throughout the world, therefore i think that if even banned ICOs or any other crypto currencies i think that it will not effect the values of ICOs and other altcoin, because bitcoin is now equally becoming popular throughout the world.

[Taki]

Of course for the government it brings good effect, ICOs banning. Let's remind firstly what is an ICO? It is a project that looking for support from people who invest in this project with expectation of future income. In a short and easy word it's like that.
It appear too many projects that began to search for financial support through the ICO, but not through loans in a bank. Banks are working on the government and elite of the country and for them it's not profitable if people don't go to them anymore, but searching and taking money by the ICO. That's why they proclaimed war to ICOs and exchangers.

[mkhadazz]

Effect of Chinese banning on cryptocurrency only temporary. Because, now bitcoin value goes back up. China cann't affect value bitcoin even with its prohibition. Bitcoin used by many people in different countries around the world.

[MiBambino]

Effect of Chinese banning on cryptocurrency only temporary. Because, now bitcoin value goes back up. China cann't affect value bitcoin even with its prohibition. Bitcoin used by many people in different countries around the world.

It did affect it, this market is still really small compared to gold for example. This won't be the last time the market dipped due to FUD, but it will grow back stronger each time

[Trela]

Effect of Chinese banning on cryptocurrency only temporary. Because, now bitcoin value goes back up. China cann't affect value bitcoin even with its prohibition. Bitcoin used by many people in different countries around the world.

It did affect it, this market is still really small compared to gold for example. This won't be the last time the market dipped due to FUD, but it will grow back stronger each time

Really? I do not think the cryptocurrency market has definition "last time dumped by the FUD" as your said. Especial this is the Bitcoin market, a market has strongly volatility every day and hottest trend of this year on the world.

[chickenado]

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

yes its what we need and what we hope from temporarily ico ban in china that affect value of ico. despite ico ban regulation from china and korea. there is still a hope from country such as japan who support ICO. I hope japan could change and fix this problem. as we can see its already did a great job by bring back bitcoin price from 3k back to 4k . anyway to make ICO accepted we need a secure way to determined which is scam and which is a true ico with a real project.

No doubt that China has good contribution in the progress of bitcoin, mining and ICOs, But i think that we have to accept the fact that now bitcoin is becoming more introduce throughout the world, therefore i think that if even banned ICOs or any other crypto currencies i think that it will not effect the values of ICOs and other altcoin, because bitcoin is now equally becoming popular throughout the world.

I agree china has really been doing a good part of bitcoin's progress and until now it's been worth trusted and even if currency was banned, people in that country was still unstoppable due to this currency is decentralized. Ico ban hasn't been affecting that worst lately and in fact price now started to recover as well of its value.

[_Dawid_]

China lately makes Bitcoin more legal so maybe to crypto currencies will not happen too much, but for sure will happen a lot of to ICO's.
The successful ICO's should refund people's money if only they want it.
For goverments maybe yes if they do that. But for people not really.

[SimilarCoin]

It is not good to see that China bans and crack down on Bitcoin.
Bad for the business!

[kassia]

There are rumors that China will announce its regulations around October 10th.
I hope, Korean ban should be resolved soon after this https://t.me/yoken/14