In 2017, the government explicitly banned ICO projects and the issuance of tokens. Many people criticized this decision, including Lao Huang, because at that time, fundraising through ICOs was incredibly profitable and the money came in too quickly 💰, with returns often exceeding tenfold. Not allowing ICOs indeed cut off everyone's income!
Looking back now, this blanket ban was undeniably correct. There were too many scams among the people, and too many liked to engage in fraud and exploit others. Over the past eight years, not a single project launched by our people has been playable! If it hadn't been banned back then, who knows how many families would have been ruined!
If everyone loves surfing the internet, they will notice that the moral standards among the public have declined dramatically in recent years. Many people, in pursuit of traffic, disregard everything else, promoting the idea that "any publicity is good publicity"; there's nothing you can do about it! Recently, the "fake donation" incident is an example; the involved parties cry, apologize, and go back to taking ads and performing as usual!
So when the momentum for cryptocurrency is strong, and the government introduces some policies to curb it, people shouldn't just follow the crowd and criticize. KOLs have their own positions, and retail investors should also have their own stance. There's no need to follow blindly; just trade honestly without gimmicks, and the government actually won't interfere!
