chinachinachina...

Oh it might be time to learn a bit more about China

RedPulse and NEO and the chinese citizens

RedPulse (china market intelligence programm) is trying to provide with top quality news on its platform. To do so they try to raise tokenfunds which are held on NEO (chinese ETH). They announced to block chinese citizens in participating in the ICO yesterday. NEO went down. But nothing real happened yet. So the government seems a bit unfriendly towards the ICO, but that shouldn't be too surprising. There has been 400 000 000 Dollars going into this market! There is a lot of scamming, undeveloped projects, lots of new opportunities to gamble. So there is not much regulations and it makes sense that a government wants to regulate a market that's growing in a insane scale like the crypto-market. It might be scary, and that makes sense. But nothing has changed for the NEO team. So it is mainly the worry about china not investing anymore rather than an actual law, that brings down NEOs price.

So what do we learn?

China works a little bit different than what westerners might be used to. A lot of things happen we don't see. Why? There is so many different interest groups that try to protect themselves. So theres many things happening in different ways and directions simultaniously. So it is quite unpredictable. They are also very had working and ambitious, which let them to become a global economic superpower! And they might see these market growing and I'm sure they don't want to stop ICOs and fall behind and loose their power. So they might as well just jump in and try to regulate it. Because they've tax paying companies all over the world that will use these technologies.

Chinese love to gamble, they regulate their financial markets a lot, the government tries to prevent the people from getting crazy about gambling on ICOs. So this announcement makes sense. Even if regulations are placed, it is really hard to predict how the china is influencing the market. That they do influence it, we might have seen yesterday.

So you might want to do a lot of researches about china before predicting its impact

the water is very deep here (china doesn't always realize how deep the water actually is)
milk isn't always milk (scandal 2008)
not everything that's shiny is actually gold

Here the video. I think it is awesome to know this in order to be more prepared when there's new coming from china! I think it helps us a lot to know more about the chinese way of life.

Thanks for watching

Some of my other posts:
ONG - the most exciting ICO of 2017?
Revolutionizing the foodmarket: FOODCOIN
The US Government's in guys!!!
What is going on in the Antarctica?