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-illegalThe 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^
I've just read the article and it just stated that Bitcoin tumbles because if The ICO BAN which is correct but i didn't read any words or sentences that said bitcoin is banned? but i do agree that some mainstream media do really put a stain on Bitcoins reputation, it is really evident that they are really trying hard just to make bitcoin sound as illegal.