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Author Topic: Will China's ICO ban influence other countries to follow suit?  (Read 252 times)
Archy159
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September 15, 2017, 11:05:31 AM
 #1

I don't believe other countries/governments will see this and think 'China is doing that, that means we will too'... But lets be fair, China is a big fish overall (not just in the Bitcoin community, but in all aspects across the globe).
When other countries sit down and talk about this, surely they will use China as an example of the effects 1 country can inflict on Bitcoin and use that to show its true volatility.
Understandably another 1 country following suit wouldn't hit as hard as China has, however the Domino Effect could hit even harder.

As this is purely speculative, I'd like to just hear your thoughts on the matter.

Recent Lurker of this bitcointalk, first time poster... Got a few coins here and there. I did look to see if that had been answered before publish... Apologies if this is not in its correct location/has already been answered

Much Love
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September 15, 2017, 11:12:57 AM
 #2

China might be a big fish, although I doubt this since their volume scam was exposed but they don't carry the influence other countries have.

Nobody is taking China as an example (apart maybe from NK), not in economics, freedom of speech, law or....anything.
So there will be no after effect.

If one of the EU members would have done this, let's not even talk about the US, then we would really see aftershocks and other countries following this path. But with China, no, don't think so

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September 15, 2017, 11:32:52 AM
 #3


Nobody is taking China as an example (apart maybe from NK), not in economics, freedom of speech, law or....anything.
So there will be no after effect.


It isn't really the Economics of China, rather the example of Bitcoins volatility due to the ban that may be used as the example.
This itself may play a roll in future decisions perhaps. I'm not sure exactly how, I guess this is why this discussion was started.

Would other countries even care about any of this?
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September 15, 2017, 11:41:46 AM
 #4

I don't believe other countries/governments will see this and think 'China is doing that, that means we will too'... But lets be fair, China is a big fish overall (not just in the Bitcoin community, but in all aspects across the globe).
these are all irrelevant to your main question.
ICOs are already illegal in many places in the world. you are not allowed to do a fundraising of this magnitude like that and specially when you are scamming people under the fake pretense of ICO to release some crap. and there is also the issue of taxes which none of them ever pay it.

Quote
When other countries sit down and talk about this, surely they will use China as an example of the effects 1 country can inflict on Bitcoin and use that to show its true volatility.
again completely irrelevant.
what China did had nothing to do with bitcoin price! the panic, FUD and idiocy did the rest.
ICO is something that is done using altcoins. specifically ethereum. if anything they would have banned ETH not bitcoin! Cheesy

it is the same story always. some FUD of some completely irrelevant news comes around and if the market is ready for a drop it will cause a mass panic and a hard drop.
funny thing is, this is the second time China closes exchanges for regulation and this is the second time people fall for the same FUD this year alone.

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Archy159
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September 15, 2017, 11:59:38 AM
 #5


Quote
When other countries sit down and talk about this, surely they will use China as an example of the effects 1 country can inflict on Bitcoin and use that to show its true volatility.
again completely irrelevant.
what China did had nothing to do with bitcoin price! the panic, FUD and idiocy did the rest.


But China did play a roll in this, take China out of the equation and the panic, FUD and idiocy would have been directed somewhere else. But without China in the equation the effects would not have been as drastic.

Or did China literally have no part in this, and I am misunderstood?
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September 15, 2017, 12:06:27 PM
 #6

i don't know if other countries will follow this suit on what china's doing now spreading a super FUD and making many bitcoiners to panic and sell all of there BITCOIN. so in that china can buy bitcoin in cheap value of BTC


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Red-Apple
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September 15, 2017, 12:07:37 PM
 #7

Quote
When other countries sit down and talk about this, surely they will use China as an example of the effects 1 country can inflict on Bitcoin and use that to show its true volatility.
again completely irrelevant.
what China did had nothing to do with bitcoin price! the panic, FUD and idiocy did the rest.


But China did play a roll in this, take China out of the equation and the panic, FUD and idiocy would have been directed somewhere else. But without China in the equation the effects would not have been as drastic.

Or did China literally have no part in this, and I am misunderstood?

i disagree, this is the issue with the market. even if there were no China something else would have replaced it.and the effects would have been the same size
this is not the first time we had something like this drop and FUD.
of course this time the FUD came after a huge rise which also created some sort of uncertainty among people. the ground work was also there back when bitcoin was called a "bubble" for a couple of months prior this drop.

it it weren't China, then it would have been...
... some exchange like bitfinex getting hacked
... SEC rejecting ETF
... some license in some country regarding bitcoin like the BitLicense thing
... another scaling drama and split threat
... some public figure talking crap about bitcoin and how it is "ponzi", "fraud", "rat poison", "dying",...

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September 15, 2017, 01:00:10 PM
 #8

i don't know if other countries will follow this suit on what china's doing now spreading a super FUD and making many bitcoiners to panic and sell all of there BITCOIN. so in that china can buy bitcoin in cheap value of BTC
pretty sure the world will not follow suit, if any other major country does implement similar policies, its because there's a necessity for it, such as shutting down exchanges that are breaking federal regulations. china may have a strong economic pull on the international scale, but i don't think bitcoin is something they have too much geopolitical influence on. in any case, its not china that are directly contributing to the massive amounts of FUD that is spreading across the crypto community, it's mostly new users that havent experienced having a stake in a volatile asset and don't exactly know how to react. of course, there's always the possibility that china is actually doing this to manipulate the market, i wouldn't put something low as that past the chinese government, they've done much worse than this.
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September 15, 2017, 01:02:23 PM
 #9

Basically China has certain propaganda behind this. It is not that every country is going to blatantly join this bandwagon and ban ICOs. In a true sense cryptocurrencies cannot be banned. Also this has been said several times in the forum that bitcoin and other crypto are not controlled by any central organisation and hence there can be no regulation for it. If one country bans ICOs, they cannot stop their users from investing in them since they all have access to TOR adn I2P which they can use as well.

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