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RE: South Korea shoots out the lights and breaks through the ceiling.
That is crazy since South Korea is trying to stop their people from using cryptocurrency because their government now considers cryptocurrency a form of gambling (Gambling has been illegal in South Korea). It is strange human behavior when you outlaw something to a specific group, that group will find ways to get around the law at an accelerated pace than normal.
South Korea is going to put Regulations/Guidelines to make sure of NO money Laundering type of issues come up, but will not Ban due to so many innovative ideas come out from South Korea (Aka Exporting Value and Importing Wealth into their country). It is making their country boom with more technological advances and creating more jobs and wealth.
Now North Korea has been the greatest beneficiary of Bitcoin due to Hacking and stealing Bitcoins and Hiring Miners in China to send Bitcoins into North Korea. And Bitcoin skyrocketed in price. People just need to becareful with their PRIVATE Keys and exchanges be robust, so they don't get hacked.
@rayonitever Where's the best place to get news about SK and crypto situation? I really don't see SK banning crypto for the mention reasons.
Many people including Miko Matsumura (One of the most respected dude in Crypto) retweeted Joseph Young's Tweet.
Joseph Young was the guy in South Korea fighting all the FUD. He has his own bio on twitter so I will leave to that as an Intro of him.
His Twitter - @ Iamjosephyoung
Thanks
No problem mate!
This is great news. It's good to know the government has enough vision to know the future means of creating wealth; and not attempt to stifle the majority of investors working for the good of the economy.
Peace.
This is not possible they cannot stop thier people from using crypto currecy.
beacuse its future currecy.
@qami
Sounds like a case, of 'can't beat 'em...join 'em.' It's all good news for crypto!
Peace.
that great.
lets get connected.
@qami
✌!
I was thinking the same thing, but look at the reaction on the ground:
https://steemit.com/cryptocurrency/@jrcornel/look-what-happens-when-you-try-to-ban-cryptocurrency
Plus this news:
https://steemit.com/eos/@eosio/richard-jung-former-ceo-of-bithumb-joins-block-one-as-head-of-korea
And it's not clear that the "ban cryptocurrency" crowd currently has any political clout in South Korea.
nice blog follow you blog thanks...
Gambling illegal? When government tries to control every aspect of human life.i can do whatever I like with my money so far as am paying taxes and not hurting anyone.no wonder they are turning to cryptos...about time
Bitcoin is not afraid of South Korea!;)
I'm fine with some degree of regulation. The totally legal stock market is the exact same thing. It is on some level gambling. But it's gambling that makes a lot of people a lot of money that have vested interest in the government which makes it totally legal in a lot of countries. The "man" (lol) is cool with gambling if they getting a cut. Hmm.
Yes, it forces people 'underground'. In this case, decentralized blockchains are changing the world. I read where North Korea has billions in BTC...so much for sanctions.
As I read your post, I was reminded of the Berlin Wall, and how people literally tunneled through to the free side.
Fast forward a few decades, and the US wants to spend billions to prevent people from entering illegally. This is pure foolishness, as millions could be spent on drones with sensors to send pinging radar to law enforcement. It's been proven that the cartels have a huge tunnel-system in place already.
The so-called wall is one thing I hope the POTUS will rethink for a less-expensive solution. I know he ran it as a part of his campaign; but, I think the dollars could be better spent eradicating some of the trillion-dollar debt.
Peace.