China banned ICO's not Bitcoin idiots!

[superstarbtc]

China is positive towards blockchain developments even they are releasing the ranking for blockchain projects but icos are banned and bitcoin can be traded peer to peer

[1714987471]

1714987471

[fianaindriati]

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

when choosing something indeed the china state examines every rule and its journey. even though the risk is high, but if it is profitable, they will live the bitcoin. because something that leads to success begins with facing risk

[goaldigger]

A friend I introduced to Bitcoin, phoned me today asking why China banned Bitcoin. He quoted a article in his local news paper, who quoted Bloomberg : https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal

The mainstream media has no f#$%^ clue what the difference between ICO's and Bitcoin is. Anyone can create a fancy webpage and a few PDF's with information on their ICO offering and then sell tokens for it.

Initial coin offering (ICO) is an unregulated means of crowdfunding via the use of cryptocurrency. The term is often confused with 'token sale' or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date.

Please phone your local newspapers and explain the difference to them, because ICO's are not Bitcoin!

People will do anything to sell a few extra news papers or to receive a few extra clicks on their websites, even if they publish total rubbish. They should research a subject before they publish garbage like this.

It just shows you how unreliable information can be that are being published in the media. This might even be done on purpose. ^grrrrrrrr^

Edit : Latest garbage from Bloomberg : https://www.bloomberg.com/gadfly/articles/2017-09-06/seventy-eight-billion-reasons-why-bitcoin-s-the-new-gold  < 100% biased and Bullshit >

This is the origin of fake news people. This is why earthworms becomes anacondas on on continues exchange of information by people. We all shouldnt be believing in all what we are seing specially on the internet. Maybe the chinese government are so sick of those scam projects thats why they want to get rid of it.

[RapTarX]

Media is playing a bad role, like as you mentioned they had no idea about ICO and bitcoin, in my local, media is trying to uphold bitcoin as the way of money laundering. No media ever tried to explore the benefits of bitcoin. For my local, I think govt is influencing the media.

[Cryptopher]

The vast majority of ICOs are a purely scam, capitalising on the hype of cryptocurrency and the greed of others.

[SiDtHeBeSt]

Yup it's the same here in India it is not the Bitcoins that have been banned it is just the ICOs and exchanges that have been shut down. People misinterp this and think it is bitcoin which is banned. Here in India bitcoin isn't considered as an legal tender though.

[bhabygrim]

Just because ICO's are related to crypto they would assume that it is Bitcoin 😂.
For real most people would assume Bitcoin once they heard about a topic with crypto.
Come on guys there are so many other crypto in the world it isn't just Bitcoin.

[MonsterV]

Just because ICO's are related to crypto they would assume that it is Bitcoin 😂.
For real most people would assume Bitcoin once they heard about a topic with crypto.
Come on guys there are so many other crypto in the world it isn't just Bitcoin.

It seems that this is not why China has banned ICO, ICO has been developed by scammers so that China wants to minimize fraud.
China still considers bitcoin quite potential and safe, so they are more anxious about the development of ICO which is increasingly filled with scammers. China only helps bitcoin and ICO miners not bitcoin.
They now focus on developing coins that they develop themselves.

[morrisgonzalez]

China banned ICO for maybe some reason but I'm also wondered when I heard that China banned bitcoin. Why China banned bitcoin? Any strong reason for doing that? I don't think so, but there's some reason maybe that China banned ICO not bitcoin. Why they banned bitcoin when bitcoin is the number one and most valuable crypto in this time?

[33bitcoin]

I'm glad to see most of these ICOs get banned so they can make room for IEOs.  I'm not saying every ICO was a scam but most of those ideas just didn't make business sense to be on a blockchain.

[franciscoDC]

Yes sir ! I agree with you . But i have an opinion about this, they (China gov) know people will "translate that news" as China banned all Cryptocurrency (Bitcoin and altcoins) and the controversial policy from China's government that designed to make a massive panic attack for those people, so they can buy bitcoin at lower prices.

Maybe it was ,like what happened before the news is they're declared it because they only want is to buy in the deepest price from the people who sell it because they are panicking for what china does, that how mind of investor was,they produce fake news to get big income.

[DoraNile]

Yes this is what I told those spreading the fake news that China ban crypto, ICO scam rate is alarming and China is just trying to protect his people

[nara1892]

many of the media do not understand what they are preaching.
they must learn about bitcoin before reporting bitcoin

[Experia]

ICO has been supported by China recently, they manage to have a regulation regarding those team behind ICO, if Im not mistaken if a team from China wants to conduct ICO they need to have certification from the govt that is why it lessen the risk if you will participate to their ICO.

[erikoy]

Yeah I know of these because there were many actual news on that in China. They tend to regulate airdrop and ICO because they could no longer bear the possible scam that was being made by other teams. Most of ICO does failed or team members are actual greedy. However, there are ICO's also that are worth it to be listed in an exchange.

[MakeMoneyBtc]

They've started by banning ICOs bus now they are taking it further and it seems like they are about to ban bitcoin mining meaning they will apparently ban bitcoin. But is still just a rumor for now even though it seems they are actually going to do it. Well have to wait and see what decision they take because it will affect the crypto market at least temporarily

[Yakamoto]

They've started by banning ICOs bus now they are taking it further and it seems like they are about to ban bitcoin mining meaning they will apparently ban bitcoin. But is still just a rumor for now even though it seems they are actually going to do it. Well have to wait and see what decision they take because it will affect the crypto market at least temporarily

China is trying to limit any sort of freedom from the Yuan/Renminbi as it's one of the key ways that they control their internal processes (obviously). Coupled with their social credit score system, any freedom to perform "unsavory" actions which can't be identified by the CPC need to be limited and shut down. Mining Bitcoin allows for people to get their own form of currency/assets off-the-books, and it threatens the structure and effectiveness of these institutions. At least when someone puts money into an exchange they can tie bank records together and know what they (could) have, mining makes it much more obscure and uncertain. That's why they want to target mining.

In a way, I'm not necessarily against it. It will reduce the hashing power present in the network, but it really doesn't impact me because I'm not a miner and I don't have any investment that this would benefit.

[iqlimasyadiqa]

They've started by banning ICOs bus now they are taking it further and it seems like they are about to ban bitcoin mining meaning they will apparently ban bitcoin. But is still just a rumor for now even though it seems they are actually going to do it. Well have to wait and see what decision they take because it will affect the crypto market at least temporarily

Certainly the information circulating is that the ban is carried out against ICO projects. but we don't know what happened like the ban on mining, this issue is still growing and we need to wait for the reaction of the Chinese government much better. I hope the Chinese government can make a right and good decision so that it doesn't harm many people.