China banned ICO's not Bitcoin idiots!

[Indamuck]

People that invested in bitcoin near the top have lost almost as much as certain ICO investors.  I still don't think governments should tell people what they can't invest in though.  I don't like to see people get burned but ultimately the responsibility relies on the individual and how much risk they are willing to take.

[bitcampaign]

I think maybe most people read a media article just reading the title so that it doesn't read the contents of the article, this has happened in my country everyone panicking Bitcoin is not legal in my country, they only read news headlines without reading the contents of the news, hoping all people read first before saying bitcoin is prohibited

[xabre]

China have banned both ICO and bitcoin transaction, there are not allowed for using bitcoin as payment transaction and will not available for building new ICO project, last two years China have banned bitcoin and until right now never take back for making bitcoin as legal transaction at the future, how ever China is biggest country in the world have support and make bitcoin become more popular digital payment e currency.

[jabrix]

People that invested in bitcoin near the top have lost almost as much as certain ICO investors.  I still don't think governments should tell people what they can't invest in though.  I don't like to see people get burned but ultimately the responsibility relies on the individual and how much risk they are willing to take.

It is possible that China oversees the crypto movement because I believe the Chinese government will make their own crypto money, because of the huge money turnover and the Chinese population, which is about 1.3 billion people is a very potential domestic market.
They also developed a blockchain to improve efficiency in manufacturing development so that Chinese products are very competitive in the world market.

[Gabteb]

Its i a big problem everywhere and its not just about BTC and crypto world most of the journalists dont  even understand what are they writing about they just do it to make money on nothing more , we can think BTC is something new and maybe they dont understand what is it and how works but last times i see they do this with everything.

[KennyR]

China is one among the first country which supported bitcoin, if bitcoin was not supported by the earlier days it would have not grown to this extent. People always use the same and try to fake it out, and this was caught with an inspection made by the people's bank of China finding fake volumes. From that onwards China began to implement laws and ban ico's which was serving as a support system.

[niceboy999]

That was right step from chinese Govt.i remember many people crying while news comes out that china banned ICO.These are unregulated and hence in 2018 most people lost money in ICO.i lost 50% of portfolio in Fake ICO.

[shesheboy]

What is the reason for China doing that? do some ICO projects harm them? or disrupt the stability of their economy?
I do not understand why China has banned the ICO.

Your right . some ico's are harmful because they are illegal . they will only take away the money of their investors and that is the reason why china have to suspend them because china was a verry strict  country  with strictker rules .

Dont worry because china didnt ban bitcoin and other legit cryptos  . only ico's which is a good thing because investors wont have an excuse to switch their capital on cryptos . this can be the reason for the recovery and possible bull run of the market soon .

[lepbagong]

What is the reason for China doing that? do some ICO projects harm them? or disrupt the stability of their economy?
I do not understand why China has banned the ICO.

The same question that was on my mind, we know that China is a big market share for crypto. surely the ban will affect crypto itself.
But we can be sure there is a very big problem behind the ban. Obviously we know that the state is indeed right to protect every development of crypto, the state must not let it go. because if there is no protection by the state, one day the country will have to bear the loss. only for me that seems a little sudden, we deserve to wait for more news behind this ban, and hopefully the impact will not be prolonged for crypto development.

[Bitcoindigger02]

ICO is a strictly prohibited financing act in China, suspected of illegal issuance of token tickets, illegal issuance of securities, financial fraud, pyramid selling and other criminal activities.

Specifically, the first is the illegal sale of token tickets, which is actually stipulated in accordance with the People's Bank of China Law. A token ticket is what is commonly called a disguised currency. The Renminbi is the only recognized French currency in China. Any other attempt to replace the status of the Renminbi, or the same function as the Renminbi, is called a token ticket.

The second is the illegal issuance of securities. The Securities Law has a set of procedures for the approval, application and sale of securities, while the whole process of Token or ICO is not really regulated by the regulatory authorities. Illegal issuance of securities and illegal fund-raising, specifically to criminal charges, may include the crime of illegal absorption of public deposits and fund-raising fraud, the two most typical crimes.

The third is financial fraud. Xu Kai said that some air coins, whose nature may be close to a fraud project, "nothing or the situation described in its white paper is false, the information given is misleading to investors, and the actual project has not really landed, which may be suspected of contract fraud or financial fraud and other criminal liability."

The fourth is distribution. In the process of issuing and selling many currencies, if the following three means are adopted at the same time, it will probably constitute pyramid selling: the first is called "pulling people's heads"; the second is called "hierarchical payment"; and the third is called "entry fee". If all three conditions are met, it is pyramid selling.

[nicecrypto]

If ico's are banned in china, i would say it's a good initiatives although not all ico's possess a risk to investors but since majority are just out to milk money from investors and jump ship, all ico's are considered thesame unfortunately,
I think the Chinese government are looking out for the well being of it's citizen, protect them from lossing money, too many negative news about ico's which result to sec getting involved, since there are no governing laws or rules about conducting ico's, best is for the government of the country to protect it's citizen's.

[tunapa]

To me I think it’s a sort of misrepresentation and media gimmicks. It’s what everyone knows that Chinese are not allowed to participate in ICO and it’s not a new things. But what’s common is the Messi of banning of crypto currency. So i notice at some point you will see news of it being banned And then some days or  motnh later you will hear the ban has been lifted. So that’s how it is. Only those who understand knows this.

[eaLiTy]

Of course people are going to misreport this sort of stuff, you can't really do anything about it.
It's just what happens when basically anyone can start their own news website.

A lot of bloggers do not have any standards and will just publish anything without proper fact checking.

Majority of these news sites are just click baits who will publish fake news and recycle the old news just to get views and nothing else, there is nothing much of a negative news these days and still you could see old news being published as new ones and there is no standard to any of these publications, ICO are banned even by US and it is only because of the huge amount of scams .

EDIT:
Damn it, why do people reply to these old threads. Didn't see the date :-/

It is a shame that people are jumping old threads and i guess new users does not know to read the warning when they are replying on an old thread.

[Johnzky]

              ~snip~                ~snip~

That's why I don't trust the media anymore. Particularly CNN and Yahoo .

THese are medias mate,they will broadcast what they think will favor their company by popularity and viewers,what we must be thankful is their action helps bitcoin to become more popular and people had become curious on whats this all about,this thread has been posted almost 2 years ago and look what this china issue brings our community here?

[Inosend]

Some people just hate reading, and some enjoy reading bad news especially when it's about cryptocurrency but we will over come.

[FaireumOfficial]

Not only do people like reading the negative news, they probably just enjoy "chaos in the markets"

Unless someone is invested in a project, they just care about the markets going up and down, just like watching a sports match. Also the lack of due diligence, but it's also a spectical in a way.

The other thing is, that even though they banned ICOs, there are MANY ICOs out of China that just register in some other location. That's the cool thing about blockchain - you can't really limit it within borders.

So unless there was like a global ban of ICOs (not possible) then a ban in China means practically nothing, as they can register some place else (e.g Singapore.)

Hope that helps the convo

[tetyulfania]

China have banned bitcoin and altcoin last two year and banned for all ICO on their country, never joining project ICO have release at China because it illegal and not allowing at their country, look detail before you start investing at ICO investment.

[expertofexperts]

China already have trillions from federal reserve and they want all payments going in and out via their own currencies. They would never allow ICO for next 5 years for sure. If they allow parallel currency, their own growth and GDP will deplete.

[kelz1]

They have huge reserves of foreign currencies and USD bonds. Bitcoin is a threat to them all but it is not banned yet, just restricted

[acholagi]

They have huge reserves of foreign currencies and USD bonds. Bitcoin is a threat to them all but it is not banned yet, just restricted

Even so, the Chinese step is pretty good. evaluation and research in advance to be able to see whether it is very risky or potential. bitcoin cannot be underestimated because it can have no value at any time