Bitcoin Rises as South Korea Talks ‘Active’ Support for Trading Discussion
Hello friends after downvoting my last 6 post i am so afraid from steemit , i write my own article but some time i put text from website to define clearly but steemcleaner downvote my post , today we discuss about bitcoin
Are You Ready ?
After south korea banned bitcoin trading, bitcoin plunged from 20k to 6k very fast as if its a ponzi-scam. However, it is regained to 12k level within 2 weeks. Bitcoin purpose was not for speculative trading, even though at the moment some people may be doing speculative trading more than real transactions.
Indian finance minister has said, bitcoin is not a legal tender. I wonder, when bitcoin claimed its a legal tender in any country/political landscape. It has rather always said, its a people's trust and underlying mathematics, which will allow it to sustain. One can loose entire value like any other currencies.
Main purpose of bitcoin is to have a competitive token for transaction other than fiat currency, which are mostly manipulated by few called themselves as regulators. In reality, regulations should be by mass and not by selected few, who can do banking scam as we are seeing all across the world. India is more vulnerable to this banking scams as human greed can not be stopped and bribe is rampant. There is a genuine need for machine/scientific verification of any transaction.
Venezuela is looking for alternatives for their currency which has seen 4500% inflation , in the form crypto-currencies, while people are starving and fleeing the country. Alternative currency or exchange mechanism is need of the hour. Banks giving loans from the money they don't have need to stop. That can not happen with fiat currency. Fiat will only make few steal other's money and make whole earth towards self-destruction.
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Hey @askquestion,
great for sharing this little summary of the past 2 weeks with us!
Do you have some more information about the situation right now in Venezuela? I am just on the update that they have introduced the "Petro" as an alternative Crypto Currency which is not so widespread.
Furthermore you can probably check out the following information in the wall street journal about happenings in south korea:
https://www.wsj.com/articles/south-korean-cryptocurrency-regulator-found-dead-at-home-1519093020
What do you think about it?
Do you want to know whether the BTC will rise or fall in short term. Just follow whether the news from South Korea are positive or negative :)
Nothing is going to stop bitcoin now, to the moon!!!
yup next stop 14K .
It is great to see that South Korea is taking a more measured approach to crypto than they previously intended. I fear that the US will go all out to try and lock things down. Heaven forbid the old money have to share a little space with some new money. -@bozz
This gives me a good reason to stay here
hitting the sky
unfortunately, it seems Bitcoin is outperforming other coins. It's not good when the most obvious coin that any idiot can buy is outperforming better coins.