Kargai Posted January 15, 2018 #1 Posted January 15, 2018 Recently a lot of attention was focused on South Korea since they were supposed to ban cryptos (at least the trading part) in their country. And like they have around 25% of the total money put in cryptos worldwide, that could have impacted a lot of people and the trust in cryptos. But again it was more some media bullshit than something official (like most news about China & co), it appear that, at the end of the day, they will not band crypto trading, they just want some regulation around it to have a market who is more transparent, fair, and stable The ban on foreigners and underaged investors from trading cryptocurrencies is expected to be implemented on January 20, and by the end of this month, South Korean cryptocurrency exchanges are also expected to reopen registrations for new users and investors. Source : https://www.ccn.com/south-korea-govt-confirms-no-cryptocurrency-trading-ban-market-optimistic/ So no big deal at the end. Just big headlines to sell papers and attention.
skillex Posted January 16, 2018 #2 Posted January 16, 2018 I happen to read about this news also and makes me feel sad, I taught that its really true coz it will really make big impact to other country if ever they will ban crypto-trading.I cant understand what korean government is trying to express us .Its ljust like in our country Philippines also. We have BSP here or called "Bangko Sentral ng Pilipinas"; so many issues in facebook regarding their bank account being freezed if ever they have big balance and the source of their fund is from bitcoin. It makes me nervous but gladly they make an appeal to BSP and later being confirmed the untrue issue,they are just either confirming the funds or maybe they just really want to have a share from it or tax. Media nowadays also are so biased.
Kargai Posted January 16, 2018 Author #3 Posted January 16, 2018 I always have a hard time believing in China and South Korea ban & co. China is one of the first mining power in the world, bringing a shit load of cryptos in their country. Ok they can hate it but why will they shoot themselves in the leg in case crypto will explode in the future? I can understand that they try to regulate things for "small people" don't winning too much, but a total ban or shut down is unlikely. Same for South Korea. They represent25ù of the total market cap in crypto. On average each korean citizen have the equivalent of 5.000$ in cryptos. They are a big market. Why shutting all ? Those total interdiction/ban will only be plausible if a negative worlwide consensus is made about cryptos. For me thay just put some barriers for don't letting things be too wild and uncontrollable for them, but that's it.
barbaris Posted January 16, 2018 #4 Posted January 16, 2018 After I just heard this news, I immediately cashed out all the bitcoins. I hope I will not regret it.
barbaris Posted January 16, 2018 #5 Posted January 16, 2018 1 minute ago, SuddenlyBroke said: wow, what price $USD did you cash out, not today I hope?! Not that of course I have any clue what's going to happen with the markets... but just my feeling is that BTC will bounce back from it's current low at the moment. Then again better safe than sorry I guess, easy for me to say when I don't hold any bitcoins No, it was not today. I managed to cash out at a cost of ~14,200 bitcoins. I had only 0.2
wilberthh Posted January 16, 2018 #6 Posted January 16, 2018 Thanks for the article Kargai! it's finally clear to me now that South Korean didn't banned the trading platform.
Bwanarob Posted January 16, 2018 #7 Posted January 16, 2018 Its funny how any economy can be influence so significantly based on a news article. A little rumour I heard is that the CIA actually hold the largest quantity of BTC and can manipulate the market as they choose.
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