Quote from: StopTheFUD on September 06, 2017, 03:03:08 AM

Quote from: CryptoDude2727 on September 05, 2017, 12:06:42 PM

Quote from: qiman on September 05, 2017, 07:26:22 AM

I don't see NEO recovering now in the near future as it is banned from doing ICOS, so NEO will become probably defunct sooner or later, unless China decides to relax and regulate the laws a little bit. If the blanket ban on ICOS continues, then Neo is having an early funeral.

Among the doom and gloom here's what I don't get:

1. China has banned/made illegal ICOs for now. But isn't the general feeling this was a step that will lead to regulation ... eventually opening up a more legitimate ICO market place?

2. If a start up in Spain (or pick your country) wanted to use NEO as the platform for an ICO the Chinese could stop this? Certainly the government could ban its citizens from participating... but why can't 99% of the rest of the world still use NEO as an ICO platform? I guess the government could arrest the NEO team thus ending everything... but seems go me the government is essentially trying to protect it's citizens (scam ICOs). With NEO itself being based in China... it's unclear how far the govt tentacles can reach with regard to this?

As a side note... Red Pulse (Hong Kong) has delayed their ICO but still hasn't cancelled it. Interesting to see what ultimately happens there.

2. I doubt any serious start up in Spain would:
a) Decide to do something risky like this. Neo is not a public blockchain. Neo is totally under control of the Neo team (or rather onchain ? which btw is also involved in an exchange...), and thus by extension of the Chinese government.
b) Use such a problematic platform in the first place. Neo is going in the very wrong direction of being under control of the NEO team. Blockchain systems were developed to get away from this.
BTW it's very clear how far the government can reach. It can just shut down the whole Neo project whenever it wants.

I thought NEO, while it started in China... was an open source project with a public blockchain? Maybe I misinterpreted that?

In simple terms how I view this... the ICO is just a way to fund a project/company.... China is saying that breaks their fundraising laws... that's basically it. I think some are getting a little carried away, or what am I missing? A project could start tomorrow on the NEO platform...no one is stopping that. It's just if it's a Chinese company it can't fundraise through an ICO.

And most likely ICO regulations will be rolled out to have it meet their fundraising laws. More and more countries are going to be doing something similar. Just seems like there is a little too much freak out.