More than 200,000 sign petition in South Korea to stop government's crackdown on bitcoin 'happy dream'
From CNBC
A petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response.Read more: https://www.cnbc.com/2018/01/16/over-200000-sign-petition-in-south-korea-to-stop-bitcoin-regulation.htmlAs of Tuesday morning, ET, more than 212,700 had signed a petition launched Dec. 28 on the website of the South Korean presidential office. A Google translation of the website states that if more than 200,000 people support a petition within 30 days, officials will respond.
"Our people have been able to make a happy dream that they have never had in Korea because of virtual money," the anonymous author of the petition wrote, according to a Google translation. "People are not stupid. ... virtual money is invested because it is judged to be the fourth revolution."
The petition did support South Korea's recent actions on cryptocurrencies, such as banning anonymous trading accounts.
I feel so powerless in this constantly changing sea of crypto and reliant on foreign nations that I know little about. Will the Korean government respond to the wishes of it's people. Can crypto currency users keep these exchanges open? I have no fucking clue.
Even if they do crackdown crypto can still be worth vastly more in the future but it just might make the road there a little bumpier. HODL strong people! Don't give in to those week hands.
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What an interesting time in the crypto market. Here at techchat we believe the market is in a correction period and is being affected by South Korea as well as China. The crypto markets tend to be affected throughout periods of holidays, and correct me if I'm wrong but I believe there is a holiday going on in China.
The 10 biggest cryptocurrencies by market capitalisation were falling Tuesday morning.
Declining Japanese and South Korean trading volumes have been blamed for spooking the market.
Cryptocurrencies surged in 2017 but have been marked by volatility this month.
Nevertheless, the independent financial adviser deVere Group plans to launch a crypto app.
LONDON — The 10 biggest cryptocurrencies by market capitalisation were plunging Tuesday morning, with all suffering double-digit percentage losses.
Bitcoin fell as much as 16% in early trade, falling through both $13,000 and $12,000 levels, but has recovered slightly. The decline appears to have spooked the market, with other coins selling off at the same time.
Fawad Razaqzada, a market analyst with Forex.com, described the sell-off as a "cryptocurrency bloodbath" but said: "Suggestions that this is the start of the demise of cryptos is very premature."
Here's the scoreboard as of 2.o0 p.m. GMT (9.00 a.m. ET), per Markets Insider:
Bitcoin is down 15% against the dollar to $11,586.29;
Ethereum is down 17% against the dollar to $1,050.46;
Ripple is down 21% to $1.30;
Bitcoin Cash is down 21% to $1,877.15;
Cardano is down 22% to $0.62;
Litecoin is down 15% to $195.43;
Neo is down 24% to $141.90;
Nem is down 26% to $1.08;
Stellar is down 24% to $0.46;
IOTA is down 19% to $2.91.
Cryptocurrencies have experienced a volatile start to 2018 after a huge rally last year.
I hope the Korean government will listen to their people. At last it’s because of the people they govern. Lets hope they work for the people and not for themself. They can make a great example for the rest of the world.
Great post!
Resteemed!
Yes. We need some stability in the cryptocurrency market. Can this be achieved.
May their government respond positively.
First China now Korea, BTC will survive this one yet
Asia has a way younger industry, open for the future. Western countries aren‘t that open for something new like this, almost like old people haha
I have trust in crypto!
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