The last few days have been a rollercoaster for NEO price. <center>![Coinmarket NEO.jpg](https://steemitimages.com/DQmRgnfVnieqLgH2pd3pFfWj9W9AjNA6jPLqgPhM26NDAi4/Coinmarket%20NEO.jpg)</center> NEO has surged by over 50%, trading at $48 after a tweet of **Malcolm Lerider**, a member of the NEO Council that made vague claims about an upcoming announcement. <center>![NEO announcement.jpg](https://steemitimages.com/DQmeJBUaeP3668a6GjQtFVEFBhtX9jcMiAToNw2RoTEeJGG/NEO%20announcement.jpg)</center> The message, which is in Mandarin, has been roughly translated to mean : <center>**"Moving forward, never stopping, when you have read this, you are one with neo, let's change the world together 3 days to an announcement 3 lifetimes of blessing"**</center> People took this as a hint to buy and the price jumped as speculation about the possible announcement circulated. Most of them thought this could be related to a possible change in regulations in China. The community had expectations of regulation changes on next Sunday. The message has fueled bullish sentiment in the community as trading volume went from just under $43 million before the announcement, to over $500 million on Saturday (Nov 18). NEO’s market cap had also gained around $1 billion in 24 hours after the announcement. When the expected date of the supposed big reveal passed and nothing materialized other than a new developers’ conference, the price **fell** ! Traders, investors and self-proclaimed former supporters of the NEO project are attacking the team on social media and community forums over what they see as misleading behavior. So what is NEO and why such announcement give a big impact to NEO price ? **NEO is a blockchain development platform similar to Ethereum** A **blockchain development** platform is an operating system other programmers use to build blockchain-enabled software programs. Think of it like the Android operating system. Programmers build applications (apps) on Android so their programs can run on mobile devices. Like Ethereum, NEO has a programming language. It uses smart contracts. And it has its own cryptocurrency token. Both NEO and Ethereum offer the equivalent of an operating system that others can build on. Developers can build blockchain applications. These applications can include smart contracts, private blockchains, crowdfunding, messaging, documentation retrieval, payment processing… the list goes on and on. <center>![neo vs ether.jpg](https://steemitimages.com/DQmVrQWVmfbfu5JGaq9bJkXuFTCaytmq2P6BvbvkFHp3z4x/neo%20vs%20ether.jpg)</center> One of the things that makes NEO unique is that it’s the only blockchain operating system in full compliance with China’s tough Anti-Money Laundering (AML) and Know Your Customer (KYC) rules. Companies that want to be compliant with Chinese law will want to use this operating system to build their blockchain applications. Another key feature of NEO is its ability to interact with other blockchains. Right now, different blockchains, such as the Bitcoin and Ethereum blockchains, cannot share data. It’s like having two computers that can’t talk to one another. NEO is able to link different blockchains together so both parties can share data with each other in a “cross-chain protocol.” The combination of the cross-chain protocol with NEO’ built-in compliance will make it the development tool of choice in China. **China’s Favor of Homegrown Technology** China has proven that it eschews Western technology companies in favor of homegrown solutions. When they use a search engine, they go to **Baidu** instead of **Google** When they use social media, they post on **Tencent’s WeChat** instead of **Facebook** or **Twitter** When they shop online, they turn to **Alibaba** instead of **Amazon** When they buy smartphones, they choose **Huawei** over **Iphone** When they use ride-sharing company they use **Didi**, not **Uber** <center>![China internet.jpg](https://steemitimages.com/DQmU6iBUSKCzuqwSkHmEH39hcwjdhhfQs4Zdj1vj7XARnvZ/China%20internet.jpg)</center> Again and again, China has a history of rallying around a select group of dominant domestic players. So in terms of blockchain & cryptocurrency, instead of using **Ethereum**, China’s community will definitely use **NEO**. **China ICO Ban** <center>![bans.jpg](https://steemitimages.com/DQmcqutVDeMCSh7eqvYgM4CNotUpwN7qGwbo2wRoHZb9bRM/bans.jpg)</center> On September 4, the People’s Bank of China (PBOC) banned all initial coin offerings (ICOs). [ICOs are similar to initial public offerings (IPOs) private companies use to raise capital. They are also called “token sales.”] And on September 15, it extended the ban to all Chinese crypto exchanges. Chinese exchanges have until the end of September to close. This sudden crackdown has shaken the global cryptocurrency market. People are terrified that China will forever ban all crypto-based fundraising and cryptocurrency trading. But most people see this as a **“pause”** rather than a permanent ban. **China’s History of Crypto Crackdowns** China has a history of allowing a sector to grow unfettered… then dropping down the regulatory hammer once that sector has exited its infancy stage. In March of this year, China banned all bitcoin withdrawals from Chinese exchanges. Government regulators cited capital flight and money laundering concerns. Bitcoin and cryptocurrencies were being investigated as a potential threat to the nation’s “financial security.” The move effectively froze the nation’s entire bitcoin supply on its exchanges. But behind the scenes, Chinese government was working on a framework to regulate it. Three months later, Beijing walked back those rules and started allowing withdrawals. The entire crypto market had gunned up as much as 400 % and bitcoin was up 180%. <center>![chess.jpg](https://steemitimages.com/DQmamVkPgoLg4q17tL4zw68S9ssbxtMnFaLaTg6VeSSbfdQ/chess.jpg)</center> Some market observers have speculated that Chinese regulators will allow cryptocurrency exchanges to re-open once the government has measures in place to provide greater oversight. **What This Means to NEO** Once the regulatory dust settles and China starts digitizing its assets, we’ll see a huge price spike in NEO. NEO could have a larger user base than Ethereum… making it one of the most valuable projects in the world. <center>![Neos.jpg](https://steemitimages.com/DQmNqidiR1cuGu9KdUrfaysqgUhuG7g3t5CxPfR4uCEsNXt/Neos.jpg)</center> So those explain why NEO’s price skyrocket last week when people expected regulation would changes after Malcolm Lerider’s announcement.
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author | sonny.dharmawan |
permlink | the-big-things-behind-neo-volatility-price |
category | cryptocurrency |
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makerhacks | 0 | 2,318,874,885 | 25% | ||
biasnarrative | 0 | 176,495,940,980 | 40% | ||
geonolan | 0 | 3,863,986,586 | 100% | ||
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samirenkovvadim | 0 | 744,503,682 | 100% | ||
sirik19 | 0 | 0 | 100% | ||
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drmake | 0 | 12,533,898,379 | 25% | ||
hotvideos | 0 | 508,856,848 | 25% | ||
the.collector | 0 | 65,821,450,373 | 25% | ||
sirvotesalot | 0 | 82,761,712,219 | 25% | ||
megacarcajou | 0 | 1,160,551,369 | 100% | ||
hottestvids | 0 | 130,622,210 | 25% | ||
kenadis | 0 | 1,366,399,616 | 100% | ||
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ayodeji1 | 0 | 1,162,144,404 | 100% | ||
sonny.dharmawan | 0 | 73,654,170,077 | 100% | ||
skytronia | 0 | 574,467,995 | 100% | ||
duane.dos | 0 | 694,220,467 | 100% | ||
mingann | 0 | 5,175,354,975 | 100% | ||
remsteem | 0 | 1,143,128,740 | 100% | ||
cryptogem | 0 | 5,102,562,852 | 100% | ||
liberty67 | 0 | 174,079,707 | 100% | ||
droopy | 0 | 359,764,719 | 100% | ||
dgbanx | 0 | 222,957,802 | 100% | ||
financeforgeek | 0 | 1,032,869,017 | 100% | ||
starbag | 0 | 0 | 100% |
Totally agree with the last statement. Currently, like as stated in the article, NEO is the only cryptocurrency that goes well with China's regulation. Hoping that NEO will create a path for more cryptocurrencies to be tandem with China's regulation, since that way we might be able to see additional new money flowing into the crypto space.
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Wow great post man! Thanks for sharing
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<p>This post has received a 11.63 % upvote from @buildawhale thanks to: @sonny.dharmawan. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.</p> <p>To support our daily curation initiative, please vote on my owner, @themarkymark, as a <a href="https://steemit.com/witness-category/@themarkymark/witness-themarkymark">Steem Witness</a></p>
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<p>This post has received a 24.39 % upvote from @aksdwi thanks to: @sonny.dharmawan.</p>
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<p>This post has received gratitude of 7.30 % from @appreciator thanks to: @sonny.dharmawan.</p>
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Congratulations @sonny.dharmawan! You have completed some achievement on Steemit and have been rewarded with new badge(s) : [![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/payout.png)](http://steemitboard.com/@sonny.dharmawan) Award for the total payout received Click on any badge to view your own Board of Honor on SteemitBoard. For more information about SteemitBoard, click [here](https://steemit.com/@steemitboard) If you no longer want to receive notifications, reply to this comment with the word `STOP` > By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!
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Saat ini saya sedang belajar buy ICO. Mempelajari mana yang berpotensi penipuan.
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permlink | re-sonnydharmawan-the-big-things-behind-neo-volatility-price-20171130t024659088z |
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Salam kenal ya Sonny :)
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nice post.
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