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RE: The Market Is Tanking Right Now, And For A Stupid Reason....
Thanks. As far as I'm aware, nothing happened to those Korean exchanges themselves, but Coinmarketcap just decided to exclude the prices from those exchanges in the average price listing for tokens. I don't know if this was done for every single token, or just some of them.
I've thought about putting a good amount of my holdings into SP, but i guess for me it wouldn't pay off in terms of Steemit earnings from posts for a very longs time. However, I can see doing that if I can get more subscribers.
Maybe for you it would be worth it, but it's hard to say. However, if it were me I might just go like 50% Steem Power instead of everything. Thanks for commenting.
A plan to tax cryptocurrency was announced.
In the USA? But it's been taxable for years. Is there something in addition to that?
Not in the US. In South Korea, new regulations are being rolled out.
Ah, okay. I do remember seeing something about regulations in Korea. Some people are also saying the drop was due to fears over China banning bitcoin mining. I'm not 100% sure if that's happened yet or not.
Realistically the market is influenced by many factors, and uncertainty with regard to China has been a constant in my opinion ... whereas BTC and many other coins were due for a correction, and the South Korea situation may have tipped things in that direction this week.
Thanks for the advice.- I only got 200 invested so aint too worried about it.
You're welcome - I am glad to see your article.