China's Central Bank Bans ICOs
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China's Central Bank Bans ICOs
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Re: China's Central Bank Bans ICOs
#2meanwhile in Estonia... they are considering issuing their very own ICO https://thenextweb.com/eu/2017/08/23/estonia-could-be-the-fi...
Re: China's Central Bank Bans ICOs
#3About time. 'the big crash of 2017'.
Some stability and sanity will return to this space.
Re: China's Central Bank Bans ICOs
#4It's an necessary move to take, given there are just so many scams under the cover of ICO. So few innovations, so many ponzi schemes.
Re: China's Central Bank Bans ICOs
#5Other countries must follow. If you see what kind of ICO scams are running out there, you can't look away any longer.
A lot of folks will lose their investment/money.
Re: China's Central Bank Bans ICOs
#6meanwhile 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.
Re: China's Central Bank Bans ICOs
#7I think it is safe to say that this is because it is something the party can't control (in the somewhat more overt sense rather than the regulatory sense).
Re: China's Central Bank Bans ICOs
#8It 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.
Re: China's Central Bank Bans ICOs
#9I hold many assets in this space including ETH and NEO. There are tons of scams and money grabs with ICOs. While this announcement has been pretty brutal for me, I think it is ultimately a good thing for the industry as a whole.
I think ICOs can be extremely beneficial for teams to raise money. But a lot of people buying these tokens do not understand what they're getting in return. I'd like to see it become easier to actually own equity or a % of a company's revenue by holding tokens. Hopefully these future regulations will build trust in the ecosystem by minimizing scams and providing clarity. More trust yields more people converting fiat -> crypto... which should yield a healthier less volatile ecosystem.
Re: China's Central Bank Bans ICOs
#10Yes! We should use PNG files for icons rather than Microsoft's proprietary format.
What?