GeneralCryptoCurrency DIscussion (China Bans ICO's)Posted:

Ethereum
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What is CryptoCurrency?

This week China has outlawed ICO's
What is an ICO?
Easy explanation:
Initial coin offering (ICO) is an unregulated means of crowdfunding via use of cryptocurrency.

In Depth:

An ICO is a bit like the IPOs that come along when a company wants to offer ownership shares to the public. When a company like Snapchat wants to raise lots of investment capital to fund speedy growth, it offers shares to investors that are priced based on a number of factors, and the Securities and Exchange Commission (SEC) imposes regulations that help protect investors who buy in. With an ICO, a company offers a chance to invest in a new cryptocurrency that often has a business aspect related to it. Typically, the ICO will accept major cryptocurrencies like bitcoin or ether, and in some cases traditional currency in exchange for crypto-tokens that basically function as shares in the company.

What does this mean?

The use of Crypto Currency such as Bitcoin and Litecoin are essential to some investors wanting to put money into start ups. This ban makes these investors bitcoin useless to fund companies or do any sort of crowd funding. In short these investors will have no choice but to sell their crypto for "real money" such as Paypal. Since all these people immediately sold the market became over whelmed with offers that Bitcoin and Litecoin dropped down in price.

Price Charts (from the last week):


Bitcoin (BTC):
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Litecoin (LTC):
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Ethereum (ETH):
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References:

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The Following 2 Users Say Thank You to Ethereum For This Useful Post:

Blizzard (09-08-2017), RepBandit (09-07-2017)
#2. Posted:
Spartan
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Yesterday was pretty bad, anyone jumping on the OMG train?
#3. Posted:
Me
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I sold all my bitcoin about 3 weeks ago. This sucks.
#4. Posted:
Tywin
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The market is bleeding right now. This is allegedly why (This is from Chinese regulators):

https://puu.sh/xuy7r/70b740cbc1.png
#5. Posted:
Spartan
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I was reading around nothjng seems confirmed, and to me it sounds like it's going be exchanges and icos banned, but let's hope it's just fud as that would mean a huge hit for coins
#6. Posted:
Tywin
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Spartan wroteI was reading around nothjng seems confirmed, and to me it sounds like it's going be exchanges and icos banned, but let's hope it's just fud as that would mean a huge hit for coins


The only thing that makes me question whether it's market manipulation or not is the person who cashed out $90,000,000 worth this morning.
Unless they were cashing out before the dip with the intention of buying low again.
#7. Posted:
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Tywin wrote
Spartan wroteI was reading around nothjng seems confirmed, and to me it sounds like it's going be exchanges and icos banned, but let's hope it's just fud as that would mean a huge hit for coins


The only thing that makes me question whether it's market manipulation or not is the person who cashed out $90,000,000 worth this morning.
Unless they were cashing out before the dip with the intention of buying low again.


Hard to say market manipulation is a big thing just like the hacker who sold ethereum so low it crashed to 10 cents for 8 minutes.
#8. Posted:
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Great post an useful information deserves a sticky
#9. Posted:
Tywin
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Ethereum wroteHard to say market manipulation is a big thing just like the hacker who sold ethereum so low it crashed to 10 cents for 8 minutes.


Whether it was deliberate market manipulation or not, it turns out that China banning exchanges was bullshit and that the regulators were just reiterating the earlier ICO ban.
pbc.gov.cn/english/130721/3377816/index.html
#10. Posted:
Spartan
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Spartan wroteYesterday was pretty bad, anyone jumping on the OMG train?

Looking at some raise now let's see if it sticks!
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