Great and informative post..i agree with you regulation

One of the Steemit authors posted today that it was a fake new.  Here is the post link: [Cryptocurrencies Market Overview - September 11, 2017](https://steemit.com/cryptocurrency/@penguinpablo/cryptocurrencies-market-overview-september-11-2017).

Because the second leg of this problem has stayed as a rumor, I'm drawing the conclusion that this was just market manipulation. In my opinion in a week or two we would be at the same level we were at when last month started.

Your post is always worth reading. Thanks for the great suggestions you have given.

To me it doesn't look like this is going to be a permanent thing honestly.

Today I came across a great article that goes into detail about NEO's parent company OnChain and what they have been doing under the radar. As you probably know, NEO was hit hard because of the ICO ban, seeing as many people saw value in it _because_ it was an ICO platform. 

After reading the article, and seeing how many things are going on under the radar, I am strengthened in my belief that not only will this China FUD be temporary, but NEO is _very_ likely to come out on top from all of this. OnChain is developing a blockchain for a Chinese province government _as we speak_ according to the article. If _that_ doesn't say something.. Seriously, go have a look. It may be NEO and OnChain specific but it does put things into a certain perspective. I would say there are good odds that NEO is going to end up being one of the few authorized ICO platforms, perhaps even getting exclusive rights, as is not uncommon in China. So I definitely think there is a good chance this situation is only temporary.

[I wrote a little about it and linked it in my post here](https://steemit.com/cryptocurrency/@pandorasbox/detailed-and-indepth-article-on-neo-s-parent-company-onchain-why-calling-it-ethereum-of-china-is-a-gross-understatement-beyond)
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Great source of info friend. Thanks for taking the time to share it with the community. Honestly the new crypto and coins that are coming out are gaining a lot of power, its quite normal for things like this to happen. Banks are afraid of the power that crypto holds :3

Great article. But if many chinese investors takes the money from their country to another countries,, it will be not so good.
Well, we pland open ICO for our massenger TLind and these news are really　disturbing!

Great article, as always, thanks a bunch for it all!

I guess this situation arising underlines once more the importance of BitShares as a fully decentralized exchange! This might bring more and more interested minds and investors into that realm, we would all gain from such a move...

Namaste   :)

Thanks for sharing, if the Chinese wont have the ICO, but buy the crypto later, it is fine for all of us as well. At least we have a change to have some early coins from the ICO :-)

good post

there was similar news back in 2013 about china banning bitcoin and it drove btc price down to its lowest at that time but btç recovered,look where it is now, this won't be different.

Its all about Communist party control. China has opened up a lot but the government is still run by the Communist party with it's ideals of control. Just like banning Google or Facebook, the Communist party sees crypto as a threat to their rule so they are trying to block it. Yes, there are a lot of bad ICOs out there but the market will work it out as people become more educated. I feel that the Chinese government is seizing the opportunity now with all the ICO issues to take a hard line on Bitcoin and other established cryptos just to build a firewall around the Yuan. The Yuan is already a government pegged currency just like the Rubbel was during the Soviet era. The Yuan is much more susceptible to being undermined by Bitcoin than the US dollar which is recognized and accepted all over the world and trades freely against other currencies. Albeit the fed controls the money supply and interest rates so they do exert a lot of control but they can't just peg a price like the Communist party. I don't see China letting up on this anytime soon. Perhaps they are secretly working on their own Communist backed crypto currency and they are stalling for time to prepare. Just a thought!

Cryptocurrency is big debate in all contry

I was wondering why Steem crept back down so quick, we were just getting comfy back above $1.50... :-(

Thanks so much for sharing the fact that China is only 20% of the total crypto market. To be honest, I thought it was more and found the idea of the Chinese exchanges shutting down to be terrifying.

In the end, as long as the long-term vision remains true and viable, I can feel comfortable despite the short term dips.

Great post ,informative and interesting...china bann and buy back at low price..always wise to hodl...thanks for sharing

Very interesting for sure... I feel that moves like this by China can sometimes actually help as it is creating exposure to bitcoin and crypticurrencies by bringing it to the forefront of the national news, which allows other people to look into these things, research them, and get their own facts/opinions.

Completely agree.  I've just been enjoying the sale.

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Well seem like China reacted instead of action. It is the fear of new speaking I guess. Indeed most of ICOs are not so viable, but I still believe that they are a few with real potential.

Yes it is a huge blow for the short term, if true. Even the Wallstreet Journal is reporting the closure of the exchanges. Even though we have seen no formal comms yet. Anyway look at it on the bright side: This is even more airtime for cryptos if the news is true. And with regards to Chinese trading: fewer pumps and dumps now ;)
Didnt expect this to happen though, with huge exchanges and mining farms, China was at the top of the list for cryptos. Now it would certainly loose this position to countries like south Korea and Japan.
As usual, enjoyed your article, cheers.

@jrcornel Sharing to have this witnessed far more (and perhaps open up the eyes of some)! Thanks  for the properly put up and documented report! Resteemed.
Thanks on your operate, I invite you To guage my operate. Resteemed.

Totally agree with you my friend...great analysis...it's just another opportunity for the whales and hedge funds to buy coins cheap..dollar cost average brother..I'm still buying even if BC goes to $2000...this technology is just starting and once the Futures markets in the US launch crypto currencies and the average Fidelity and TDAmeritrade investors are allowed in, watch out

I found it interesting that you mentioned that China is only roughly 20% of the crypto market which is very comforting and probably why Bitcoin hasn't lost more of its value to be honest. Regarding the price of Steem I think, like all cryptos (each to their own relative extent) they will follow Bitcoin's price and hence the drop in the steem price. In my opinion Bitcoin will remain around the $4200 area for a little while and possibly drop to $3800 and then find support at $4000. Hopefully after all of that it will then return to its winning ways. Only the market knows though!

China is really performing a service to investors.  By shaking out potential fraudsters and questionable ICOs they are creating a better and more credible environment for the entire crypto market.  The follow up news is that once they get a process in place they will open their market back up to ICO's so all is not lost.  The market will bound back from this.

![pros-cons.png](https://steemitimages.com/DQmYfA3Dr1N3qetJdfpXaWjcBYg9iRDcrmUe3CBbc4JkwwR/pros-cons.png)
*image by Cryptocompare.com*

If they indeed end up banning exchanges trading will just move to the black market like everything else that's "banned" in China. It will give a boost to decentralized exchanges such as Bitsquare, Bitshares and OpenLedger. The genie is out of the bottle, governments should concentrate on beating their opponents at this race rather than creating obstacles that can only leave themselves behind

My take on this is to see from the angle of China, would it benefit them? seems yes: http://steemit.com/cryptocurrency/@cryptoescobar/china-ban-on-crypto-exchanges-actually-makes-sense

ᴺᵉᵛᵉʳ ᵇᵘʸ ᵃ ᵏᵉʸᵇᵒᵃʳᵈ ᶠʳᵒᵐ ᵃ ᶜʰᶦᶰᵉˢᵉ ʷᵉᵇˢᶦᵗᵉ

China wants to dominate in all aspects.

Hey jrcornel,
Very interesting read, Thanks you for sharing it!

Even if it occurs, this sanction will not stop BTC.

Chinese being Chinese.

Ya I hear China is only 20% percent of trading. We are going be okay

Great article.  In my opinion this is great for the long-term prospects of the crypto industry.  We should all be thankful as this will help the market correct and create a more stable and credible valuation from which to grow from.  Any new market/industry must go through its respective growing pains.  This isn't the first and surely won't be the last.  Plus, most things that China "bans" go on to be wildly successful.

We've got to love news like that from China as we now know the game @jrcornel
that China plays in order to get cheap coins.
Let's take bad news as good news too.