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This was a needed move. Too many scamcoins are appearing and selling their overpriced offerings. It's like Kickstarter, but for larger sums of money and less ac

This was a needed move. Too many scamcoins are appearing and selling their overpriced offerings. It's like Kickstarter, but for larger sums of money and less accountability if things don't materialise. We are heading for a pretty serious ICO bubble if ICO's can continue to operate like they are and I can only hope that the USA follows suit next. The crypto markets right now are in a free fall as a result of the panic. This is a ban on ICO's, not a ban on cryptocurrency. People don't realise how instrumental China is in the crypto world, quite crazy. I am taking this opportunity to buy up promising alt coins like TenX ($pay) which are all incredibly unvervalued right now as a result of the drop. As we learned with Bitcoin, panic is temporary and eventually things will bounce back. We are entering a brave new world with cryptocoins as they reach the mainstream.

return0 9y ago
> This was a needed move. > We are entering a brave new world with cryptocoins as they reach the mainstream. You can't have both. decide
- DigitalSea 9y ago
  I'm confused. They both relate to each other, don't they? For crypto to reach and be accepted by the mainstream, people need to know that everything is being done to prevent people from being scammed. It's surprisingly easy to fork an existing cryptocurrency and create your own. Anyone could create a new coin in a couple of hours, most of the time spent on the marketing site. For crypto to be accepted beyond speculators and Twitter investors, there needs to be protections in place, just like investing in the stock market is regulated somewhat.
  - return0 9y ago
    All that and more is provided by conventional physical and digital money.
rothbardrand 9y ago
Here's the thing though, I did not invest in the Ethereum ICO because I considered it a scam coin. It's really easy to just say all these ICOs are scams but we have not seen many outright scams. I have seen a lot of very young enthusiastic teams promising things that it would be very hard for them to deliver on. And I imagine every Silicon Valley VC can see the same thing about their pitches. How do you know which are scams and which aren't? There's no objective measure. So basically this is banning the middle class from investing in the next massive technology cycle. Reserving it once again only for VCs and accredited investors. Keeping the little guy out and making the rich richer.

return0 9y ago

> This was a needed move. > We are entering a brave new world with cryptocoins as they reach the mainstream. You can't have both. decide

DigitalSea 9y ago
I'm confused. They both relate to each other, don't they? For crypto to reach and be accepted by the mainstream, people need to know that everything is being done to prevent people from being scammed. It's surprisingly easy to fork an existing cryptocurrency and create your own. Anyone could create a new coin in a couple of hours, most of the time spent on the marketing site. For crypto to be accepted beyond speculators and Twitter investors, there needs to be protections in place, just like investing in the stock market is regulated somewhat.
- return0 9y ago
  All that and more is provided by conventional physical and digital money.

rothbardrand 9y ago

Here's the thing though, I did not invest in the Ethereum ICO because I considered it a scam coin. It's really easy to just say all these ICOs are scams but we have not seen many outright scams. I have seen a lot of very young enthusiastic teams promising things that it would be very hard for them to deliver on. And I imagine every Silicon Valley VC can see the same thing about their pitches. How do you know which are scams and which aren't? There's no objective measure. So basically this is banning the middle class from investing in the next massive technology cycle. Reserving it once again only for VCs and accredited investors. Keeping the little guy out and making the rich richer.