I respect China | China Bans ICO | "Internet rules - When china bans something, Invest in it"| Is it the Perfect Time to Buy?
Biggest News ever in the history of Cryptocurrency. It is like a nueclear bomb in the crypto market. It is the strongest regulatory challenge for this digital assets. Chinese government conducted a huge investigation on ICO's and concluded that it is illegal. Any kind of future ICO will be punished severely. Those who already raise money must be refunded to the investor. Another important factor of this ban is that Digital coin can not be exchanged with fiat currency.
China ICO ban already causes a big ripple in the cryptocurrency market. Crypto market reacted promptly. Bitcoin is down by 4.37 % Ethereum is down by 13.62 %
Look at Neo, down by 36% . Investors are panicked and selling their crypto.
Especially Chinese coin price fall sharply. Look at Binance down by 57%
Just few minutes back, Binance issued a statement to the investors
Build a lucrative website, Hire some celebrity to talk about your project, Conduct ICO, Raise huge money and forget about the project. This should not happen. In this case, strict regulation is okay.
To my mind, Illegal ICO should get punishment. But good project should continue. But the question is who will decide which project is the good one.
"I am not a professional consultant. Please take care of your hard earn money"
Chart Source: Coinmarketcap.com
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I love it, since the majority of the market was in China. Now it will be disperse in the whole world.
Ha ha Good thought. What if other country follows China.
The question is... Why they will do that?
China made this because they have problems with people trying to avoid the China's money... If someone could do this is India. Another countries see Bitcoin like a way to get money from people, when you sell the bitcoins to get a fiat money, probably you will need to pay taxes, and that is why governments like bitcoins.
In China, Lot of Scam projects are going on. Lot of projects are quick rich projects. ICO is banned but Bitcoin is still legal in china. Let's see what happens next.
Yeah, like in Brazil, the Ponzi Schemes is so damn high!
Govt. Should knock them out
Yes, who knows.. Let's wait
That is really so great article of you..
Thank you @asmaasema for your nice reply
What are loving so much @roberoueti?
The ICOs ban of China.
Wow, this is major. Surprised I hadn't heard of this sooner (I frequently check for market updates and stories like this).
I'm betting cryptos will recover their gains over the course of this week.
Thanks for sharing, upvoted!
I am also positive. Cryptos will recover soon.
let s hope that!
it's a good thing to ban ICO's since there are so much rediculous projects that are way way way to high prices and don't even existing yet like status, a decentralised message app worth over 100 million.... why? no one knows.. how will it ever make money? nobody knows... and so there are a lot of those thing air projects worth millions but no body knows why.... and china -> yeah counterfeit and rip offs all over the place there so the culture is not really trustworthy for this kind of things i believe so this bann is just a prevention for criminal ponzy scams and that is good... and it brings us all good prices to invest in already proven projects that are going on there like neo... thnx china
Good observation @seveaux I couldn't agree more. some sort regulation is good. Lot of nasty people are waiting to take people money by ponzi scam. Regulations is good I think
Nonsense and rubbish. Be an individual.
Wait a minute,,,, what happened to steem????
It go up soon, we have to be patient be :)
Yeah we should be positive :)
Great post. This is big news, and the markets are certainly hurting today.
I'm not concerned. :) US has been restricting ICO's for awhile now. Any news like this, that makes people want to panic sell, is good in the long run. We're shaking out the flakes.
I'm still holding my NEO. It'll be back.
Buy, buy, BUY!
NEO, quite Up now. I think it is better not to watch market status upto 12 hours
China can only ban chinese ICOs, chinese companies and chinese citizens. But the crypto world would still exist - just without chinese and americans. Those who are affected by that will find a way.
I saw somebody tweets, "Internet rules - When china bans something, Invest in it" :)
cool inputs @steemero. i like this citation..
Thank you @andreolf :)
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A lot of people are saying that it will recover in a week or by the end of the year. I think so too.
Nobody knows what will happen. It is just an speculation. Hopefully market will be good soon.