China banned ICO's not Bitcoin idiots!

[Kakmakr]

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 >

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[n4poleon]

Only plebs got hooked believing the whole cryptocurrency market is banned in China. I'd say more than 50% here are plebs.

[romero121]

Maybe the China's ban on ICO's might be an reason for a sudden fall in the price of bitcoin along with most of the digital currencies yesterday. Today the price has started to increase once again giving hope for an bigger price pumping to happen in the upcoming days.

[CryptoBeefy]

That they did, a load of ICO's i've never heard of. Hopefully the btc increase continues.

[nicholasds]

These media people should get a life! Good as there are tonnes of noob who selling off their btc like nobody's business!

[sindikat]

I don't understand why the Chinese need it. They are in a state of undeclared trade war with the United States. I think that now crypto currency is not so strong to have a negative impact on China's economy, but it is an extra trump in the struggle with the dollar.

[eternalgloom]

It did have some effect on the price earlier this week, but it's already recovering as we speak.
At least, I think the price drop had something to do with this news, though it didn't have anything to do with Bitcoin directly.

I didn't see anything mentioned in local newspapers about China banning ICO's, but I did see something about the huge price increase of Bitcoin over the past months.

[Nawaytes]

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.

[LeGaulois]

The mainstream media is not the only: if you want to get a good laugh Brendan Blumer from EOS and CEO of block.one was saying Bitcoin itself is an ICO. Please don't fall from your chair
I am not so surprised of the confusion about ICO from the mainstream media. They have to drive traffic to their site what they write doesn't matter much. Most of them don't know anything about crypto and all related. They mainly repeat or do a very little search from another uneducated website. There are very few journalists specialized in Blockchain/Cryptos. All the others are just "I wanna be"

[Spinbackup]

Finally, somebody lost his patience about all these panic posts about the Chinese government decision and decided to give the simple answer:)

[jhkmjnhamster]

in my country a major newspaper wrote that China banned bitcoin. they write fake news on purpose 

[subSTRATA]

it's just idiots and the misinformed that are running around spreading FUD, as they do every time something that is perceived as 'Bad' happens, nothing out of the ordinary. wait it out and people will read up for themselves and get over it in a week's time.

Finally, somebody lost his patience about all these panic posts about the Chinese government decision and decided to give the simple answer:)

it happens every time, and it will continue to happen every time; it's actually funny to see it at this point. I've accepted trying to correct people at times like this is pretty much effort wasted.

in my country a major newspaper wrote that China banned bitcoin. they write fake news on purpose 

the media outlet was probably uneducated on the subject, they usually tend to be when it comes to newer technologies and ideas.

[reputation]

China not only ban ICO but also the tokens distributed in this year, the government support blockchain technology but ban the ico which will cause public events and financial crime

[deadmousehat]

in my country a major newspaper wrote that China banned bitcoin. they write fake news on purpose 

many articles like that too. makes me confused in the beginning.
writer just write without checking the truth or maybe like you said, they write fake news on purpose.

[doedz]

China not only ban ICO but also the tokens distributed in this year, the government support blockchain technology but ban the ico which will cause public events and financial crime

This is just a precautionary measure, the Chinese Government is only afraid of people making a deceptive investment.
Everything is fine, and we do not panic.
BTC has returned to normal, this issue loads everyone busy.

[cryptothreads]

I think this will only happen in a short time and everything will return to normal because big ICO projects are heavily dependent on China, without China the Bitcoin market and the ICO market will lose a lot potential investors.

[MintCondition]

I think this will only happen in a short time and everything will return to normal because big ICO projects are heavily dependent on China, without China the Bitcoin market and the ICO market will lose a lot potential investors.

Businesses will find a way to enter in any ICO since they already know how ico forms, it finds  way to fund a successful project. It is the newest trend to easily fund a project all over the world and Chinese investors will not let this chance to skip.

[hardforkcoin]

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^

The MSM has no reason to objectively tell the actual truth. Ratings are all that really matter.

Hey, they banned bitcoin!!! Says the MSM... = ratings!!! Because now people panic and think Bitcoin is dead for the 2,000th time or something.

They don't want Bitcoin to continue to succeed because it is against their best interests.

[kevoh]

Beats me. Just yesterday, I read a thread here on Bitcoin talk that Bitcoin is dead. Are you freaking kidding me? It was just a ban of ICO by the Chinese! Dunno why people keep fabricating this news.

[albert11]

Yes, I also want to explain to the newcomers here in the forum. Many newcomers make a lot of talk about it as other fools also believe in it.

Before you believe you read it first well. because of that you will know the answer. You will not immediately notify that you do not really know the full details. ICO and bitcoins are different. Also, you will find some answers to google even here in the forum you can read