What does the Cryptocalto world have to do with China’s ICO ban?Cryptocurrency’s largest event in the world is the declaration of Chinese authorities, which recently closed the exchange where cryptocurrencies is trading.The news was a catalyst that the Bitcoin (and other currencies, such as Etherium) plunged below about 30 percent of the past highs recorded earlier this month.Therefore, a cryptographic rollercoaster continues. Some analysts say that the increase in bitcoins from December 2016 to September 2017 will be able to recover from recent declines. IG’s market analyst Josh Mahoney commented that Cryptocalto’s “past experience is likely to prevent these latest challenges.”But these feelings do not come without opposition.
Mr. Dimon, the CEO of JPMorgan Chase, said Bitcoin is “not going well” and “fraud… Worse than tulip bulbs (17th century Netherlands “Tulip Mania” the first speculative bubble in the world)…
It would explode, “he said. He goes to the extent of saying that he hires stupid employees enough to trade in bitcoins.Guess aside, what is actually happening? Since the ICO ban in China, other countries leading the world are looking at how the world of cryptography should be regulated in the region.
Instead of banning ICO, other countries are aware of the technical advantages of cryptographic technology and are trying to control the market without completely suppressing the growth of the currency. A major problem for these economies is to understand how to do this because the alternative to cryptographic communications is not categorized into traditional investment asset policies.These countries include Japan, Singapore, and United States. These countries are trying to establish Cryptocalto accounting standards to handle money laundering and fraud, which is getting harder for cryptographic technology.
But most regulators recognize that there is no real benefit to the Cryptocalto being completely banned by the economic flow. As long as the internet exists, it is considered virtually impossible to close the crypto world. Regulators can focus only on areas where the encrypted currency can take control that appears to fit the peaceful currency (i.e. encryption exchange).Cryptocurrencies seem to be more scrutinized as time progresses, but such events are beneficial for some countries such as Hong Kong S.
A.R.. Since the ban on ICO in China, many of the founders of the encryption project are heading from the mainland to the city. Aurelian Menant, the CEO of Gatecoin, said the company received many inquiries from founders of the bloc-chain project based in the mainland, revealing that the number of Chinese customers registered on the platform has soared.Looking a little more, companies like Nvidia have expressed goodwill from this event. They insist that this is a ban on ICO, but only to promote GPU sales.
Because of the ban, the demand for GPU related to cryptographic violations could increase. With this prohibition, the only way to get the encrypted currency mined by the GPU is to mine them with computing power. Therefore, individuals who try to acquire the encrypted currency in China need to acquire more computing power instead of buying directly through a replacement machine. Essentially, Nvidia’s impression is that this is not a swirl of Cryptocalto distribution. In fact, other industries would also undergo a boost.
Considering all of the turmoil and discussion surrounding cryptocurrencies, integration into the world economy of technology seems to be realizing rapidly. Whether you believe in the future of technology or if you think it is a “scam to explode…” The encryption roller coaster is noteworthy.