Bitcoin Bug Bites Japan and South Korea as China Clamps Down
SAN FRANCISCO — Until recently, China was a center of Bitcoin activity while the rest of Asia looked on with little interest.
Now, the tables have turned.
The Chinese government has been clamping down on virtual currency activity at the same time that hundreds of thousands of Japanese have thrown themselves into Bitcoin trading, making Japan’s main Bitcoin exchange, bitFlyer, the largest in the world in recent weeks by some methods of counting.
South Koreans have also shown a sudden interest in virtual currencies, though they have generally opted for Bitcoin competitors like Ethereum and Ripple. Trading has been so popular that two South Korean exchanges, Bithumb and Coinone, have set up storefronts in Seoul that people can visit to buy and sell in person.
Full story at http://nyti.ms/2g2WzaD
Source: https://www.nytimes.com
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I wonder what will be the trigger that sends the world flocking to blockchain technology? Will it be stories in the MSM? Stories in financial publications? A downfall in the world economy that drives people to seek safe haven for their wealth? World War that disrupts the normal flow of business and currency?
I think it will be interesting to see what causes the big boon. It could be a simple service that is so easy, cheap, and secure on a blockchain that everyone just has to have it. Or maybe data theft and identity theft increases to the point where everyone seeks the higher security of the blockchain.
I remember what drove thousands of people to Satellite TV, no commercials! So perhaps when a person can do something that they do every day and do it cheaply and commercial free, then BAM, the entire world will want in on it.
China is using Sun Tzu's method's to gain a monopoly on cryptocurrencies. This is an excellent podcast explaining what is happening: https://steemit.com/crytocurrency/@blondenfun1/what-they-won-t-tell-you-about-the-coming-total-food-collapse-and-chinese-crypto-space
Dubai set up the first government owned cryptocurrency: https://www.opdeepstate.com/2017/10/01/dubai-will-issue-first-ever-state-cryptocurrency/
Russia decided not to regulate cryptocurrencies for now, at least: https://www.opdeepstate.com/2017/09/29/russian-regulators-disagree-on-crypto-regulation-postpone-to-next-year/
I love your comment, deaconlee, but I don't have the power to upvote it. I'll be back tomorrow to upvote it!
Its good to see other countries getting involved in coins.
A great thought and very informative post. upvoted!
Good to see other countries getting on board.
Thanks for sharing this information about Bitcoin currency I also used to think that China country is the center of bitcoin activities but after reading your article I got it that in Japan and south Korea they also involved and take enthusiastic interest in Bitcoin activities
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Upvoted & Resteemed!