Chinese government banned all of ICOs

[sosobtc-Regina]

https://www.sosobtc.com/article/23790.html

Chinese government recognized all of ICOs are illegal,all of related platforms must stop offering services for ICO projects,it seems that is just a start,the regulation of ctyptocurrency is on the way.
Some ICOs refund to their investors already,but this event has an effect on cryptocurrencies including bitcoin,the prices droped seriously.
How do you think of that? Good or bad?

[sosobtc-Regina]

Yes, and this had a lot of impact in bitcoin price, right now its price is around $3900 each bitcoin.. More than -23% in less than 50 hours, that is amazing i have not seen such that dump since july 21nd.
Anyone knows why it is still falling? it was like $4300 two hours ago.. seems that there is too much fear around the exchangers. there are more sell orders than buy orders at the moment.
lets see how it goes in the next hours

Chinese government is very strict now,maybe people fear about that.We are still keep updating.

[pairinpay]

Please don't panic, just chinese 
Keep calm for your self.
Lets see how it goes in the next hours

[deddod]

some investors who participate in ICO are mostly from china.
the decline in BTC prices along with the emergence of this news raised in the media.
even altcoin followed the direction of the BTC continues to fall.
I think this has a bad impact on BTC at this time.

[Twinkledoe]

This is not good in crypto community. I hope the price of bitcoin will recover.

But the Chinese community is really vital in crypto space so hopefully they find other means on how to deal their cryptocurrency investments.

[shimbark123]

Yeah this is a great crisis for all. And I think that it is not good for all of us to experience this. As we all know,  chinese people are onto the greater for good of their business.

[aTriz]

Looks like the Chinese government is getting more and more strict especially with cryptocurrencies and since there is an element of scam in these icos, that is probably why they banned it. This is good though, since we will see less scam icos, and scam icos would be more afraid due to the strict rules made by the chinese goverment.

I think icos need to be more regulated, right now they look like an easy scam method.

[btcboss71]

proper decision,
It helps to recycle real coin and prevent fake coin.
I'm agreed with Chinese Government.

[VeteranCoin]

If you are new to all this... China banns lots of aspects of the blockchain, and it always comes back.

[ClownSpider]

Who cares?
Why is BTC falling from $5000 to $4000???

BITCOIN is not banned by China!  Just new fake coins from all the stupid ICOs

[ClownSpider]

If you are new to all this... China banns lots of aspects of the blockchain, and it always comes back.

You are new to this.
China has not banned Bitcoin, only people from creating ICO, Initial Coin Offerings.  Meaning people with NEW crypto currency other than ETH, BTC, and BCC

Bitcoin is the best, highest volume, and value.   We don't need new ones anyway.

Please don't create panic.

[erickkyut]

Chinese government just banned all ICO while the hotel heiress, Pris Hilton is promoting some ICO. According to what I've read a while ago, the rule of internet is invest on what China banned. Lol. I have have high hopes on the cryptomarket. I'm pretty sure that it will recover in no time and everything will be back on track.

[CryptoBry]

People are just looking for the reason to panic...and this is what is the current behavior of people in the exchanges. China is not anymore where the biggest volume of buyers coming from...it is already Japan so somehow this panic is unfounded. And I am sure that soon Bitcoin can be back rampaging because actually the Chinese government has not yet banned Bitcoin...it is just the ICOs released in China and maybe also forbidding their citizens to participate in ICOs though this can be so hard to implement since there are now so many moneyed Chinese and they can go abroad to do what they want.

I am hoping though that soon China will instead come up with stricter rules and regulations for any ICO applicant. China does not want to be left behind with the global trends and there can be powerful lobby within the country to allow ICOs but must have stricter laws to follow.

[rodel caling]

some investors who participate in ICO are mostly from china.
the decline in BTC prices along with the emergence of this news raised in the media.
even altcoin followed the direction of the BTC continues to fall.
I think this has a bad impact on BTC at this time.

correct buddy i agree with you i hope this problem are fiexd as soon as possible of the dev's of the ICO's to explained or appeal to the china government the effects for the bitcoins about this problem, and i wait for the announcement for this problem, i think will fixed soonest.

[Darker45]

This is the saddest part of this new chinese policy. The market for bitcoin as well as for many alts is pushed upward partly because of the chinese market, which is very big considering that the population there is also very large. The business people there who are into BTC and altcoins are now thinking twice since this new policy is really disastrous to their investment. Hence the dip of almost all coins right now.

[sosobtc-Regina]

I think not only ICOs,but also cryptocurrency,need to be regulated,thus can have a long-tren healthy development.
We should reject bad coins and hug good coins and good technology.

[Bitcoin_Delivery]

Behind the many contradictions behind the Chinese government case forbids ico. I'm sure they already know that this is because the number of ico is a scam and many people are at a disadvantage. the loss of investors is not small. but I also very meyangkan if the government of China to be banned ico in his country

[左]

I think not only ICOs,but also cryptocurrency,need to be regulated,thus can have a long-tren healthy development.
We should reject bad coins and hug good coins and good technology.

Bitcoin was always the currency of the people, regulation only take us away further from that.
And  I don't mean regulating ico's but crypto as a whole.

[Kencha77]

All cryptos are affected by this. Even those which hasn't added to a chinese exchanges.  East asian countries have been always ahead of the price of major cryptocurrencies in their local exchanges. I hope Korea and Japan won't also make the kind of decision like the Chinese government did.

[HabBear]

Good decision on China's part. Most (like nearly all) ICOs are rubbish pump and dump schemes. This news may have a very short term negative affect on Bitcoin, but the real impact will be seen in the ICO market...as it should. When people talk about Bitcoin in a bubble, what they really mean is that there are 100s if not more of these ICOs are illusions of value. There's zero reason to support nearly all of the alternative cryptocurrencies. They offer no new enhancement or evolution beyond the existing Bitcoin, Litecoin, Ether, Dash, Monero options.

Good on China... they aren't banning crypto currency, they're protecting their citizens from getting scammed by pump and dump ICOs.