Rocky road cryptocurrency: China's ban ICO

After the Chinese ban ICO, which comprehends the world cryptocurrency?

The biggest event in the world cryptocurrency recently was a statement by the Chinese authorities to close the exchanges on which traded cryptocurrency. As a result, BTCChina, one of the largest stock exchange markets in China, announced that trading activity will be terminated until the end of September. This news catalyzed sharp sale that left bitcoin (and other currencies such as Eteryum) that fell approximately 30% lower than the record high achievements reached at the beginning of the month.

Thus, the roller coaster continues. As in December 2016 for September 2017 increased bitcoins that exceed four times as much, some analysts predict that cryptocurrency can recover from the recent fall. Josh Mahoney, market analyst at IG Company, commented that "past experience cryptocurrency tells us that (they are) likely to avoid these problems in the past aside."

However, these sentiments do not come without opposition. Mr. Dimon, CEO of JPMorgan Chase, said that bitcoin "not working" and that this "fraud … worse than the tulip bulbs (in connection with the Dutch" tulip mania "of the 17th century, recognized as the world's first speculative bubble ) … that will explode. " He goes to the point that says to lay off employees who have been foolish enough to trade bitcoin.

Speculation aside, what actually happens? Since the ICO ban in China and other leading world economies in a new look at the way the world / cryptocurrency should / can be adjusted in their regions. Rather than prohibit ICO, other countries continue to recognize the technological advantages of the crypto-technology and seek to control the market, do not zadushvayuchy with growth rates. The big problem for these economies to the & # 39 is to figure out how to do it, because the alternative character cryptocurrency does not allow them to be classified under a traditional policy of investment assets.

Some of these countries include Japan, Singapore and the United States. These economies are seeking to establish accounting standards for cryptocurrency, mainly for anti-money laundering and fraud, which were made more elusive due kryptatehnalogii. However, most regulators do recognize that there is no real benefit from a complete ban cryptocurrency due to economic flows, which they carry out. Also, perhaps, because it is practically impossible to disable crypto world as long as there is Internet. Regulators can only focus on areas where they may be able to control a control that seems to be where cryptocurrency meet fiatnymi currencies (ie exchanges cryptocurrency).

While kryptovalyuty seems to be subject to more scrutiny over time, countries such as Hong Kong, benefit. Since the ban Chinese ICO many founders kryptovalyuty projects have been transported from the mainland to the city. Aurelian Menanteau, CEO Gatecoin, said the company has received "a large number of requests from blockchain founders of the project, based on the mainland," and that there is a surge in the number of Chinese customers who are registered on the platform.

Looking a little further, companies such as Nvidia's, expressed positivity of this event. They argue that the ban ICO will feed only their GPU sales, because the ban is likely to increase the demand on the GPU, connected with cryptocurrency. From the prohibition is the only way to get cryptocurrency obtained by the GPU, it is to extract them from the computing power. Thus, people who seek cryptocurrency in China, now has to get more computing power, and not to make purchases via the stock exchange. In fact, Nvidia's mood lies in the fact that it is not cryptocurrency spiral descent; in fact, get the momentum and other industries.

In the light of all the unrest and controversy surrounding cryptocurrency integration of this technology into the global economy seems to be quickly implemented. Do you believe in the future of technology, or do not think it is "cheating … is going to explode," kryptovalyuta in roller coaster – is worthy of your attention.