Quote from: mtnminer on September 22, 2017, 03:25:10 PM

Quote from: panteraforlife on September 22, 2017, 03:23:41 PM

Quote from: mtnminer on September 22, 2017, 03:18:26 PM

In the short term, Chinas ban on ICOs and shutting down of exchanges is bearish for ETH and BTC because:
- A lot of the hot money from China leaves the ICO, Bitcoin and Ethereum markets.
- Some hot money cryptocurrency buyers will, at the margin, buy less or not buy. Some will not bother using VPNs, exchanging Chinese Yuan for US dollars or gold on the black market, or taking trips to island jurisdictions like Malta or to Switzerland to open up accounts to move assets including cryptcurrencies around.
Chinese regulators and other government officials need time to figure out how to regulate cryptocurrencies, including ICO tokens.

You think that ban just a respite for the introduction of a new regulatory system and better integration of the crypto-currency into the state economy?

Yep, I think Beijing government will centralize the management of cryptocurrency, but not shut it down

I often think about it when i hear "the cryptocurrencies will turn the financial system" or "the cryptocurrencies will become an alternative financial system." I believe not. The traditional financial system and the cryptocurrency system will merge into something mean. Full decentralization and full transparency will not be achieved in the near future. The flaws of the traditional system can not be eliminated so easily. A significant part of them also clings to the cryptocurrencies system. Sad