Hong Kong plans to warn citizens about ICO's

I was reading an article this morning that lays out the idea that Hong Kong is planning a TV and radio campaign warning it's citizens about the potential dangers of ICO's. They have stated that ICO's are dangerous and that there is the risk of losing a lot of money when you get involved in them. Whether it's because the market or whether it's a scam coin (I'm looking at you Bitconnect)...they still plan on doing a multi level campaign to try to get people to shy away from investing.

Here's the thing...we know there is a risk in crypto! We have known that since we have all become involved.

That is the exciting part of it all
The market is highly volatile, yes, but the reward possibility is also there
That is the importance of doing your due diligence before you invest in a coin, ICO or not.

This is just another example of a country trying to scare it's citizens out of involvement in crypto. It is also possible that it is a tactic to drive the market down, either to crash crypto or giving them the ability to buy low.

Either way, this guy is holding his crypto and if a great idea for an ICO comes around, you better believe i'm going to invest in it.

Here is a link to the article:

https://www.yahoo.com/news/hong-kong-plans-tv-ad-115808374.html

What do you guys think of Hong Kong's plan of attack? Let me know in the comments.

I'm in two minds, there should not be too much fear mongering. But some people need some sense shaken into them.

Not an ICO story, but I had a taxi driver recently in December who went into debt to buy 800k in BTC. They had absolutely no knowledge of computing in general, and was happy to just let it sit in an exchange.

Exactly. It's a dumb idea in the first place to place all your eggs in one basket. Putting your entire savings into crypto is not smart, but reckless. However, if you buy some with a portion of your bank account, let it sit and grow, you're better off.

Yes, I have moved some of my profits to the good old fashioned stock market. One of my friends is coming an investment rental house.

Economists and their banks are not able to control the crypto

No, but they can strangle the entry and exit points for the average user. This would have pretty bad consequences at this early stage of development.

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