South Korea Bans ICO's/Your Opinion

[Bitcoin Guy]

Banning ICOs for good would be bad, but if the ban is only temporary and they come back with appropriate regulation to help stablize the crypos space, then the ban is a good thing.  I think that is what each of the countries which already banned or will be banning ICOs is planning to do.

[AleSergio]

Nah it depends on a lot of things, from one side banning ICOs is great, because a lot of scams come up, where people just share their money to others and no one can find a thief On the other hand ICOs like a kickstarter in crypto world, where projects are able to get some funds. I think ICOs should have some regulation.
The price of bitcoin wont be affected by such news, because there are not so many ICOs from South Korea though

[pginvest]

Banning ICOs for good would be bad, but if the ban is only temporary and they come back with appropriate regulation to help stablize the crypos space, then the ban is a good thing.  I think that is what each of the countries which already banned or will be banning ICOs is planning to do.

I tend to agree, I think that there are far too many scams happening in the ICO space and if that continues it will be bad new for crypto in the long run. A little sense and oversight might add a degree of legitimacy to the whole affair, any amount of regulation will still not really take away from the inhereent anonymity of BTC or its junior peers.

[entebah]

I do not care about them, BTC is not affected and I believe BTC still will not be unstoppable.
this is only temporary and everyone please sit and calm down, everything will be fine.

[Ucy]

You support ICOs ban but refuses to ban yourselves from promoting ICO projects on your signatures... that is hypocrisy my friends —  hypocrisy is annoying sometimes.


Other Examples of Hypocrisy:
Asking your government to ban the Internet b/c it encourages lots of fake news but refuses to stop promoting your numerous businesses on the Internet.
OR
Asking your government to ban alcohol but continue to consume Champagne.

Well the truth is that the bans are totally unnecessary. Any government with foresight should've realized that ICO is the future. These things cannot be stopped. If you cannot stop rains from falling there is no way you can stop Crypto & it's ongoing revolution.

[AgentofCoin]

...
Well the truth is that the bans are totally unnecessary. Any government with foresight should've realized that ICO is the future. These things cannot be stopped. If you cannot stop rains from falling there is no way you can stop Crypto & it's ongoing revolution.

For sake of conversation, I agree that banning certain cryptos is unnecessary
and a waste of the time for governments, but (1) why isn't it easy for a government
to enforce against an ICO? (2) Why do you equate the two different systems
(Crypto-currencies & ICOs) as being the same? (3) What is your overall logic
and reasoning, and is it associated with economic theory or legal theory?

Please explain.

[lalabotax]

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

the market is still conducive and tend to be stable. most likely will not have a major effect on the growth in bitcoin and other crypto. this is how people learn from the mistakes that happened yesterday.

[robelneo]

For me regulation is ok this is to weed bad and useless ico, some of these icos cannot come out a useable products or services and these countries are now becoming aware of this issue, we need good ico that can give me real products services and innovation just like waves and ethereum.

[Beparanf]

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

the market is still conducive and tend to be stable. most likely will not have a major effect on the growth in bitcoin and other crypto. this is how people learn from the mistakes that happened yesterday.

Now we know that it will only depends on how the fud will  get spread and on the numbers of users from a country banned . And it seems that Korea were not have much vrypto whales to be affected.

[rebel92]

Nah it depends on a lot of things, from one side banning ICOs is great, because a lot of scams come up, where people just share their money to others and no one can find a thief On the other hand ICOs like a kickstarter in crypto world, where projects are able to get some funds. I think ICOs should have some regulation.
The price of bitcoin wont be affected by such news, because there are not so many ICOs from South Korea though

I believe not ALL ICO's are bad, but yes of course they are a lot that are scammy, you just have to be a good judge of character and do your research. I hope bitcoin and altcoins still here several years from now, i am buying all sort of coins out there and holding with my life.

[Pearls Before Swine]

South Korea?  Honestly, it's not that big a deal.  It was a big deal that the United States
banned ICOs, and even then it's not stopping them from being diarrhea-ed out.  Not all
of them are bad, mind you, but you know as well as I do that there are too many.  And
too little demand.  Now if they banned bitcoin itself, that'd be the start of something
catastrophic.  I'm not looking forward to the day when countries start banning crypto
altogether.  Then we'll all have to watch our asses or stop using it altogether.

[BestWebCreator]

At least that did not have the same impact as China said they would ban ICO's. Otherwise we would have another buying opportunity. I just don't think it is impossible to control everyone, bitcoin is semi anonymous and can be very hard to trace (depending on how you buy/sell them).

ICO banning = good buying opportunity

[william8829]

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

I think this is sad news    ICOs allow small investor an opportunity to be apart of a potentially huge company at the very beginning.  Just think if there was an ICO for IOTA.  We would all be rich today.

South Korea is very important to Bitcoin.  I hope they know this and choose laws and regulate Bitcoin very wisely.

[J. Cooper]

Let them ban it. I don't live in South-Korea nor do I actively invest in ico's (I actually haven't invested in a single ico ever) so in all honesty I can safely say I couldn't care less.

[rebel92]

South Korea?  Honestly, it's not that big a deal.  It was a big deal that the United States
banned ICOs, and even then it's not stopping them from being diarrhea-ed out.  Not all
of them are bad, mind you, but you know as well as I do that there are too many.  And
too little demand.  Now if they banned bitcoin itself, that'd be the start of something
catastrophic.  I'm not looking forward to the day when countries start banning crypto
altogether.  Then we'll all have to watch our asses or stop using it altogether.

Governments today have no desire to protect their citizens from fraud, so consumer protection has nothing to do with ico bans. Protecting the market leaders, that is the big cryptos, is what these ico bans are all about. Invest in the big coins because they are now being nurtured by governments and protected from competition.

[JasonXIII]

Why not terrible

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

why not terrible thing? It means more and more countries do this and will continue...

[Jake052478]

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

Like China, the reason for banning bitcoins is that it lacks legal basis.. you see no law or laws regulating the use of bitcoins... One problem is that the collection of tax seems to decrease because of no law controlling it. Another is the news nowadays that their are fake ICO already... So this contries just try to control the use of it. They wanted it to have legal basis and somehow be regulated.  They also wanted it to be with supporting gold bullions as the paper money has something of value backing it... so... this constraints may be cause by the abused of using bitcoins that imperil our government to collect tax and other purposes maybe...

[Zalfa_mui]

Korea,China next Singapore and India,regulations needs to be developed.Now with flood of that ico's there is possible to launder money,itis to much scams ico;s,look market what for to invest almost any ico is failing below io price,where to trade all that tokens.So i think wise regulations can be good for ico market in long term.

I agree with you, Tightening up the ICO rule is great, In order to avoid fraud or illegal money used by ICO,
The governments of China and Korea may have enforced the rule.

[Indrawan77]

Banning ICO is not a terrible things, ICO had been know as a tool to scammed people so it is not surprising that a lot of countries want to banned ICO, if there is a way to control the ICO then it will be a great solution, banning is not good for crypto currencies growth

[soham]

According to The Verge & Business Insider, South Korea has followed China and banned all ICO's. The verge reports that "ICOs need to be banned because the trading of Bitcoin and other cryptocoins needs to be tightly controlled"

To me this doesn't seem like a terribly bad thing. What is your opinion of this? Is this the right thing to do? or do you believe this is interference?

https://www.theverge.com/2017/9/29/16384718/south-korea-ban-initial-coin-offerings-bitcoin-cryptocurrency-icos

South Korea is a very small country and also represents a very small percentage of the crypto currency community. I was worried when China banned ICO but I am not worried now. China was a bigger country and it was representing a much bigger percentage of crypto community. Probably the biggest compared to other countries. So that news couldn't bog down the price below $3000, so I believe South Korea banning ICO will have any effect on bitcoin's price. Instead if South Korea starts regulating the crypto currency exchanges and trade in their soil, it will be beneficial for the crypto community.