China banned ICO's not Bitcoin idiots!

[phelbaby]

The ban of cryptocurrency is a very big hit on the crypto world ,it could be a good you to promote bitcoin as a major cryptocurrency in there country.

[maitexisi]

I think China's choice to ban ICO is right that 90 percent of ICO in China is fraud. It's easy for investors to lose their money. But bitcoin is still popular in China, and many investors prefer to buy and store it at a low price.

[Mideafan]

The global success of bitcoin and other virtual currencies is due to the infiltration of financial investors and large investments into a new market. However, the Chinese government started restricting the transaction by bitcoin. The central bank of the country has banned all ICO operations. The Chinese financial authorities not only stop all ICO transactions but also refund previously collected amounts and prohibit transfers. account transfer by bitcoin. China expressed concern that many ICO financial fraud. The ICO is risky for money laundering or terrorist financing because of the anonymity of transactions and the ease of transferring large amounts of money from one place to another in the short term. However, China is also quite cautious against This is because the country is one of the fastest growing markets in the world. At the same time, the establishment of legal regulations on virtual currency relations hasn't been taken into account by the government. Virtual currency is considered virtual goods and exchange of encryption must be registered with the National Telecommunications Bureau, which is also considered a step forward in China.

[1NV3ST0NM3]

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 confusion remained for quite a long time in the bitcoin community and then I was really surprised that what are the members of community really doing...Like don't they really know the difference between ICO and bitcoin. Or are they just listening to rumors and not researching at all by themselves.

Anyways not to dig deeper into this conversation, lets just see what was the imoact of China banning ICOs. According to me and what I collected from my research, this ban really went in vain, and proved very ineffective bearing no positive results what CHinese economists might have thought.

For more details, read this article: https://bravenewcoin.com/insights/china-ico-ban-proving-ineffective

[chocolah29]

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.

Once again, this is why ICO banned in China and not BITCOIN itself. Chinese government deem to necessary to ban the crowd sales since a lot of fraudulent happened and without further act it can be more rampant.

It's sad that fake news are bought and believe easily, this issue was old as last year and I don't know why media keep on digging this. Perhaps they don't have anything to publish so even a rubbish news will do now.

[boty]

yes that's what those who don't know the difference between ico and bitcoin and those traders who panic easily make them panic and sell all digital currency assets including bitcoin they have at a very cheap price and make the price condition at the exchange place collapse this badly.

[semes]

There are many countries in the United States that have imposed a ban on participation in ICOs. But in most of them, Bitcoin or crypto money trading is not prohibited.

[Beatrix77]

The ICO ban was unveiled as a military truce, as all the investors were holding their breath to see the Bitcoin graph ever down to $ 2,981. However, just two days later, the Bitcoin value recovered to $ 4,000. The total market capitalization of the cryptocurrency market was at $ 137 billion, with a low level of $ 100 billion just three days ago. It appears that there are countless benefits behind the ICO ban. China has removed all of its transactions with Bitcoin, which will reduce the influence of the Chinese market on the global Cryptocurrency market. The tightening of management and enforcement of the trade ban in the Chinese market means that the quality of the ICO will be improved. As a result, the more quality the product, the better the whitepaper, the more clear the plan, the more convenient the enterprise will be in seeking legal representation, company structure diagram Regulatory enactment, and self-management mechanism. Managers find that the complete ban on cryptocurrency is not only impossible but also difficult to achieve. The economic benefits derived from both the value of the state and the potential for technological innovation demonstrate that no illegal activity occurs.

[rudox]

Thanks for the clarification on what China has banned. This has been a confusing issue concerning China and cryptocurrency. Bitcoin though not yet legalized in China but it is not banned. People are still transacting with bitcoin on P2P and exchanging their goods and services. People should stop being agent of FUD deciving people to become frenzy and sell off their coin at a loss. 

[kerjakuat]

Its just another tactic from whale to scared this newbies investors that want to create panic sell so they can buy bitcoin cheaper. Spreading false alarm about the banned of bitcoin around the globe and forcing other to sell their bitcoin so they can gathering it back with a cheap price. It easy to create chaos when panic are attacking without knowing a real news about what China banned off. China banned ICOs not bitcoin.

[Ararbermas]

True and probably china banned some gambling sites as well because my friend account become frozen after dumping small amount on a gambling site which is sort of like exchange also. It says "you used withdraw limits for your country ". Maybe it is temporary banning again.  So no need to worry. 'cause honestly that issue always happened even before but always back to the business after months.  

[Mpamaegbu]

There are many countries in the United States that have imposed a ban on participation in ICOs. But in most of them, Bitcoin or crypto money trading is not prohibited.

Dude, what are you rambling about here, many countries in the united States?...

On the issue with China and cryptocurrency, I think the ban has long been overtaken by events. I believe China's main issue right now is getting out of its trade war with America.

[meanwords]

That's the thing about media, they only think about clicks and views without giving enough context or even researching to their own subject. At least most of them are. I think they are only writing what people want to see, they don't care about facts at all. Let's be careful with those.

[Eraldo Coil]

Yes this is also what i am trying to say to my friends. But not all Ico's were banned only around 40% to 50% of new and monthly old ico's. There are many ico's that are fake so that's why china keeps banning it. But don't worry they really checked of the Ico is legit or not they don't just ban it whenever they want.

[Robertqueen2]

China's banning of Ico's may appear as a clever procedure as it has been a lot of scams throughout the last year. Chain has an outstanding influence in any business it get in, so China may wait for the market of cryptos to have its all corrections and become more stable so that it enters this market again.

[samuel23]

I feel totally disappointed about the ICOs though. Most of them are just scums and nothing more, you are waiting for the minimum payouts forever.

[maydna]

So if China banned ico and not bitcoin, it will bring good news for the Chinese people because they can use bitcoin without any worry. And I think that if many other countries finally ban the fake ico because the ico can easily to get much money from the investor and in the end, they are leaving the project without any news. Many people have obtained scam by this, and there is no protection for the investor, and if there is any regulation for the ico then the investor will save and not worried about their money.

[sinkfish]

In China, ICO = scam.

[Al-e_x]

I agree with you, we know that China has a big role in creating a very good bitcoin market, by the end of 2017 bitcoin reached a value of 20K. and China dominates bitcoin trading.

yes, China only prohibits ICO, but you must know that China is very greedy, they want to master bitcoin. they are never satisfied.

[hubballi]

I agree with you, we know that China has a big role in creating a very good bitcoin market, by the end of 2017 bitcoin reached a value of 20K. and China dominates bitcoin trading.

yes, China only prohibits ICO, but you must know that China is very greedy, they want to master bitcoin. they are never satisfied.

China were before mid of 2017 holded the big role in crypto market and even in mining farm, but after Japan and south korea legalized the crypto currency. China is no more dominates bitcoin trading. Even when they stated news of banning ICO in mid 2017 it did not affected the market and bitcoin price went more high and who ever in china shorted bitcoin on that news have taken heavy loss.

But still even china have stopped the exchange function till the government have not formed the new rules and regulation to follow to run the exchange.