All ICOs to be Denied in China? NEO!? Where is the USA?
Today's Crypto Report - $160 Billion: Cryptocurrency Market Sets New All-Time High
Investment in cryptocurrencies continues growing, with the market setting a notable new high today for total investment. Currently we are at $164 Billion.
We just passed 4500! Bitcoin makes yet another new all time high. Bitcoin 5K is insight.
Big news today. All ICOs to be Denied – China’s Possible Decision
NEO ($NEO) price is down -10.59% on high volume today. NEO is often called the Chinese Ethereum since it has similar structure and uses.
China is taking under consideration to ban all ICO-s startups in the country. - As many have risked and lost a lot of investment because of the not-regulated or secured in any possible way Initial Coin Offerings
That is why we are seeing the sell off in NEO.
Now I am invested in NEO. I have the majority of my holdings in Bitcoin, Ethereum, Ripple and NEO. Instead of focusing on pipe dream plays I prefer to stick with the market leaders that offer a technological solution to the market. With a lot of money and power behind them.
The market is in the early stages of a high growth. Today we are at $164 billion and I expect we blow past one trillion dollar market cap within 3-5 years. I am regularly adding to these core holding. If fundamentals change though I need to drop my thinking and position. If the Chinese government bans all ICOs and NEO is used to launch ICOs in China I need to sell my position because it is no longer valid. You can never be tied to a position
Where is the USA?
China already is the leading bitcoin miner in the world. Russia seeing that is looking to put resources behind that and look to challenge China's dominance.
A new business Russia Mining Coin co-owned by the Kremlin’s Internet ombudsman is seeking to raise around $100 mln to challenge Chinese dominance.
Bitcoin Miners in Russia ‘In Talks’ To Get Spare Energy From Energy Firms
The potential mining companies in Russia are looking to Gazprom and EuroSibEnergo, as Russian state participants want to use Russia’s cheaper energy rates to give China large-scale competition.
That brings up today's question where is the USA in all of this. Both China and Russia already purchase massive amounts of physical gold each month. Now they are both looking to corner the Bitcoin market. Don't forget it is the miners who control the future of the coin.
The United States is busy protecting the petrodollar and the us dollar as the world's reserve currency. But they are doing it at the expense of our children's future.
This is not just my opinion. This is what is happening.
Telegram Founder Believes Bitcoin Will Undermine US Hegemony
A Russian Sputnik news article reported the Telegram founder hopes bitcoin will undermine US hegemony. Further, he believes the cryptocurrencies have the power to reshape the global finance system and escape US monetary control.
China and Russia play chess. The are positioning themselves for the future.
I would love to see the power of NASA, Silicon Valley and the US government getting behind this together and challenge Russia and China on this.
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The SEC already issued a warning letter on ICOs, so it's natural that other financial regulators take a similar stance. I would not be surprised to see similar attitudes adopted towards in ICOs in Europe and Canada. Most of these ICOs are scams anyways.
So the SEC will allow ICOs with oversight (accredited investors only, etc) but China may ban them altogether is an entire different story.
I agree many ICOs are scams but many are perfectly legit. Oversight is needed. But banning them is extreme.
But how do you separate the legit ones from the scams? Because many of the biggest scams look and appear legit to ordinary investors. There is also a very real possibility that most ICOs will turn out to be complete scams one way or another.
The big question is this: what motivation is there for devs to actually see the project through once they get the cash upfront?
And some of these ICOs are raising more money than they would ever need. It's a pure cash grab. Just look at the Filecoin ICO of $200 million. It's pure BS. What they hell do they need $200 mil for?
5000 soon.You have to love it! Ripple seems so hard to get.
I use Bittrex.com to purchase Ripple. Also available on the exchange Bitso.com (Mexico) - those are the two I use.
That's a great news. thanks for sharing.
The idea that NEO will fail because ICOs aren't around is ridiculous. Litecoin and Bitcoin never had ICOs. ICOs are just bullshit offerings to suck up insane money from unsuspecting idiots that buy hook, line, and sinker into their generated hype cycles. The crypto market would be far better off and far more stable without ICOs
Keep smiling, reading, writing and voting!!!
thank you for sharing
@mannyfig1956
Mmmhhh... have some NEO too... let's see what happens