Re: Effects of ICO ban in China

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.

They arent banning the use of crypto currencies, they're just putting forth a plan to start regulating ICOs to stop future scams and shady projects laundering money and getting away with millions.

I agree to this. We all know that scammers / and con-artists are very wise. They know how to plan and they really study what are the in demands today. ICO can easily be scammed, you just need to have a structured and good to be true website and plans and investors will just go invest to those. Actually ICO should really be regulated.

May I also ask, if a country will be banning activity on the internet, can they just use VPN to mask IP address and continue with these like ICO? Especially if the ICO comes from different country. Sorry for my newbie question.

I also agreed, that most of the scammers rises up in the ico. They are quite smart actually in terms of getting money in different investors here. So the effect of what China did was the value of bitcoin fell down in a span of weeks but then now little by little recovered to its regular value or more.