As far as I understand financial regulation ICOs are illegal in most countries. It is just a matter of enforcing the existing rules.
China's Central Bank Bans ICOs
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Re: China's Central Bank Bans ICOs
#12It probably has a lot more to do with the country regulating its own fiat currency, foreign change and savings quite aggressively. That made any previously unregulated (because new) alternative the _de facto_ change mechanism.
This is one of the things about bitcoin nobody has ever explained to me adequately. Governments use monetary policy & other economic tools to regulate the economy. Assuming we're all Keynsians here, this is a pretty important feature that govts will not give up, so how is Bitcoin ever supposed to supplant fiat currency?
Re: China's Central Bank Bans ICOs
#13Buy the dip! :)
Re: China's Central Bank Bans ICOs
#14It's a greate decision!
Re: China's Central Bank Bans ICOs
#15meanwhile in Estonia... they are considering issuing their very own ICO https://thenextweb.com/eu/2017/08/23/estonia-could-be-the-fi...
Estonia's gov is famous for adapting new things. I still remember their initiative on e-visa. Actually China is trying to do that too. But crypto coins are made to decentralize things, I wonder how these gov-lead coins will play any parts.
> e-visa
You got a link to that how? How does that work with Schengen?
Re: China's Central Bank Bans ICOs
#16About time. 'the big crash of 2017'. Some stability and sanity will return to this space.
Shaking my magic eightball: "DON'T COUNT ON IT"
Re: China's Central Bank Bans ICOs
#17What effect will this have on ETH price?
Re: China's Central Bank Bans ICOs
#18Earlier quoted context omitted.
Estonia's gov is famous for adapting new things. I still remember their initiative on e-visa. Actually China is trying to do that too. But crypto coins are made to decentralize things, I wonder how these gov-lead coins will play any parts.
> e-visa You got a link to that how? How does that work with Schengen?
I have an Estonian e-Residency. It does not allow you to reside in or enter the country. Even opening a bank account is non-trivial (as far as I've read, I tried it but gave up after a couple of hours), which makes me question the value of the e-Residency.
Re: China's Central Bank Bans ICOs
#19Earlier quoted context omitted.
Estonia's gov is famous for adapting new things. I still remember their initiative on e-visa. Actually China is trying to do that too. But crypto coins are made to decentralize things, I wonder how these gov-lead coins will play any parts.
> e-visa You got a link to that how? How does that work with Schengen?
Is not a e-visa...it called e-residency and simply is an ID card for use all the estonian services(like: open a company, pay taxes, open a bank account etc...)
It NOT GIVE a work permit in EU and of course not give a permission to travel in schengeng.
It's simply an ID card. The main difference is that: - Normally in other EU countries for have an ID card for services, you must live there, while with e-residency you can do have and do all the stuff remotely. - It's pretty useless, you can google it and see how had a lot of hype, but in real case uses, it's useless (example: yes you can open a company remotely, but if you don't live in estonia, is a mess with taxes...and having an e-residency, doesn't give you a valid visa for live+work there...so often you can't move to estonia to work, even if you have a company opened in estonia)
Re: China's Central Bank Bans ICOs
#20meanwhile in Estonia... they are considering issuing their very own ICO https://thenextweb.com/eu/2017/08/23/estonia-could-be-the-fi...
Estonia's gov is famous for adapting new things. I still remember their initiative on e-visa. Actually China is trying to do that too. But crypto coins are made to decentralize things, I wonder how these gov-lead coins will play any parts.
The PRC leadership could "own" a cryptocurrency by securing a majority of nodes in the graph under their control, either physically or by mandating the use of their software, and disallowing the exchange of user-forks off their own coin-base.
While users would always be able to use their own forks, the gov would only allow taxes and retail trade to happen with their branch, thus de-legitimizing user forks and reducing their utility (and hence value).
Also given that most cryptocurrencies are only pseudonymous, means they could "follow the money" and quite easily charge someone for handling a disallowed cryptocurrency. This is why I feel Monero is undervalued compared to BTC - as Monero has greater utility for Bitcoin's original mainstream activity: online black-market purchasing.