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RE: South Korean exchanges Coinone and Bithumb raided by police and tax agencies

in #news4 years ago

I'm looking to add to the STACK. Reminds me of the China FUD that went down in November.

Also just read this: https://www.forbes.com/sites/pamelaambler/2017/12/12/south-korea-is-not-banning-bitcoin-trade-financial-regulators-clarify/#13bf76f11427

In short - regulators are looking to ban ICOs and weed out the "bad actors" (exchanges evading taxes, etc.) but not looking for an outright ban on cryptocurrencies wholesale.

If I was a day / swing trader, I'd be thanking them for this volatility. But alas I'm a simple HODLer that just adds to my position.

~ Kevin

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Managed to get some cheap steem at 28-30k but wouldn't surprise me if we have a few more flash crashes coming.

People overreact easily in these markets. :D

If I learned 1 thing from my poker days it's to become cold as ice when it comes to dips / gains. Now I just need to increase my capital allocation into crypto and stop being such a baby boy :P

Or just trade your way up with a small amount and then you won't be as emotional about it. :)

Never trade with more than you can afford to lose in these markets, anything can happen.

Yup, good call. Been in the game since September, slow going but patience and dollar cost averaging in on project I believe in seems to be working. Hope it all doesn't come crashing down hardcore though.

Buy the crash, lock in the gains in part.

If you don't mind my asking, what's your current crypto allocation in terms of percentage of investable wealth?

I'm around 10% right now. I feel that in a growing, not well-understood market where 10-1000x are (relatively) common, you don't need to allocate a large % of total capital to do well. And you protect your downside if it burns to the ground.

But I truly believe we're in the first true boom where the common man (us) is able to invest directly before most elites, gatekeepers, and institutions. So I'm considering upping my allocation to around 20%.

Thanks for sharing, I appreciate the insight and the thought process.

Happy to - I'm far from an expert (barely a novice) so I relish the chance to talk w/ others!

You go boy.

People tend to stop trading with a particular coin once there is a little crash. We need to stop overreacting.

It's sad our steem couldn't hold $5. :(

Yeah I loaded up on a boatload of EOS on the nice dip.

Well done - EOS is in my "potential ETH killers" part of my portfolio too.

Definitely my number 1 holding. Can't see how any other project can touch it as far as tech is concerned.

Thanks sharing this news.

You're welcome!

What a horror...In Korea it is not clear what is happening with cryptocurrency!

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