Ninjastic
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Post
Topic
Board Altcoin Discussion
Re: Effects of ICO ban in China
by
Taki
on 18/09/2017, 14:11:28 UTC
Quote from: dunfida on September 18, 2017, 12:35:26 PM
Quote from: MiBambino on September 18, 2017, 12:23:35 PM
Quote from: k@suy on September 18, 2017, 12:16:29 PM
Quote from: Bagaji on September 18, 2017, 11:50:33 AM
Quote from: nick_nick on September 04, 2017, 11:27:44 PM
What do you think will happen to crypto currencies following the latest news on the #ban on ICO in China?

will the already successful ICO's refund people's monies to them?

Is it good for governments to ban the use of crypto currencies?


Tell me what you think about any of these.  Smiley
We have already seeing the side effect of the ICO and local bicoin exchange ban by the China government. Bitcoin market value really went down from $4700 or there about to $3,150. But currently the panic sell is over and the price has move to $3,825. 32 as at time of this post, which shows that in no time, bitcoin value will return to $4,600.

Yes bitcoin now is recovering and I can attest to it. Those price dump is temporary and something like a correction. Thou we admit that bitcoin ba on ICO and closing some exchanges really affects bitcoin price value but that is only temporary.

Indeed, the chinese government want to get as much out of it as possible, and without regulations that's virtually impossible. They won't abandon a cashcow like cryptocurrency, but they will ban it for now ot A. Install regulations, and B. lower the price so they can buy in cheaper
They cant easily quit on cryptocurrency because they see that they can able to make money with it and now they do really have the plans on regulating exchanges.It is really a good news for us bitcoin holders since they are not totally banning those exchanges but only on regulating them.Well expected prices would recover soon.Abandoning cryptocurrency would really be an impossible thing for them.
Scam ICOs were really parasites on bitcoin and everything that was join to this meaning. I am agree with you. All Chinese decisions about exchanges and ICOs is a step to bitcoin regulation and I think they started it correctly. Yes, we may panic about that now, but it's only cause of we used to accept bitcoin uncontrolled for many years and now this period is passing. I think after all necessary moves about crypto-currencies' regulation we will get safe and trustworthy product which price maybe will not raise so fast, but it's really going to become money of the future.