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South Korea justice ministry prepares to ban cryptocurrency trading

reuters.com

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Re: South Korea justice ministry prepares to ban cryptocurrency trading

#101

Post by yen223 »

Simon_says wrote: post #80
kindfellow92 wrote: post #42

Earlier quoted context omitted.

> Not trying to be pessimistic but genuinely curious why so many people make the analogy to the dot com period. Because most people are not creative nor critical thinkers and the extent of their brilliance is superficial pattern matching. To most people the dot-com bubble seems to fit all the patterns so by their logic it must have the same outcome. If you think critically about the differences of the crypto craze an…

> superficial pattern matching. > Bitcoin is Google. Is this satire?

Google provides a valuable service that saves me time.

Bitcoin, uhh...

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#102

Post by konschubert »

gonzo41 wrote: post #86
sputknick wrote: post #6

When I first learned about crypto currency on HN back in 2012 I was excited. It sounded like a fun technical project that could do good in the world. I bought some along the way, followed projects. Along the way it changed. Yesterday I saw a spam post on Reddit about joining a "pump and dump group", which I had to research. It's groups of people who coordinate a buy of a specific currency, spread false news about thi…

The interesting thing to consider about bitcoins is its value isn't all hype, The cost of electricity use to produce them adds a value to it. Strengthens that emotional bond for the owners. Provides a feedback loop for users etc. It's just sad this tech will end up being used mostly for black money.

> The cost of electricity use to produce them adds a value to it.

That's not true. What makes you think so?

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#103

Post by aviv »

knownothing wrote: post #43
aviv wrote: post #31

Earlier quoted context omitted.

My prediction is that Coinbase will be raided by FBI/SEC for one reason or another in 2018. Leading reason IMO is a manufactured or actual link to terrorism financing they will use as pretext. Never ever keep coins in an exchange wallet.

Stop spamming this prediction in comments.

Username checks out.

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#104

Post by Blaiz0r »

olalonde wrote: post #33
sputknick wrote: post #6

When I first learned about crypto currency on HN back in 2012 I was excited. It sounded like a fun technical project that could do good in the world. I bought some along the way, followed projects. Along the way it changed. Yesterday I saw a spam post on Reddit about joining a "pump and dump group", which I had to research. It's groups of people who coordinate a buy of a specific currency, spread false news about thi…

I'd argue that there is no Bitcoin community to speak of anymore (just like there isn't an "internet community"). The technology evolved a bit but it is still essentially the same.

See https://www.scuttlebutt.nz/

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#105

Post by csomar »

omegaham wrote: post #14
sputknick wrote: post #6

When I first learned about crypto currency on HN back in 2012 I was excited. It sounded like a fun technical project that could do good in the world. I bought some along the way, followed projects. Along the way it changed. Yesterday I saw a spam post on Reddit about joining a "pump and dump group", which I had to research. It's groups of people who coordinate a buy of a specific currency, spread false news about thi…

On the bright side, the idiots who join these groups hoping to scam others tend to lose their shirts as well. The person orchestrating the pump-and-dump scheme bought the currency at $X per coin in question long before, and he's using the people in the group as patsies. "Buy the coins at $X + $Y, and the rise in price will make it so that you can sell the coins to some other idiot for $Y + $Z!" If there aren't enough…

They usually accumulate old cryptos or whole-buy them at ridiculously low prices (almost 0). So their biggest expense is actually marketing.

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#106

Post by wu-ikkyu »

gonzo41 wrote: post #86
sputknick wrote: post #6

When I first learned about crypto currency on HN back in 2012 I was excited. It sounded like a fun technical project that could do good in the world. I bought some along the way, followed projects. Along the way it changed. Yesterday I saw a spam post on Reddit about joining a "pump and dump group", which I had to research. It's groups of people who coordinate a buy of a specific currency, spread false news about thi…

The interesting thing to consider about bitcoins is its value isn't all hype, The cost of electricity use to produce them adds a value to it. Strengthens that emotional bond for the owners. Provides a feedback loop for users etc. It's just sad this tech will end up being used mostly for black money.

>The cost of electricity use to produce them adds a value to it.

This is a sunk-cost, not added value.

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#107

Post by sodafountan »

prodtorok wrote: post #94

"In an official announcement, South Korean government reaffirms there will be NO TRADING BAN" https://twitter.com/iamjosephyoung/status/951428854085689344

but you won't find this at the top of HN because vast majority of HN hates crypto-currency, most likely because it was once cool now it's more mainstream so it's not cool anymore. What a shame.

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#108

Post by DiNovi »

sodafountan wrote: post #107
prodtorok wrote: post #94

"In an official announcement, South Korean government reaffirms there will be NO TRADING BAN" https://twitter.com/iamjosephyoung/status/951428854085689344

but you won't find this at the top of HN because vast majority of HN hates crypto-currency, most likely because it was once cool now it's more mainstream so it's not cool anymore. What a shame.

I think most people hate crypto markets, not the underlying tokens or technology

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#109

Post by mkirklions »

sputknick wrote: post #6

When I first learned about crypto currency on HN back in 2012 I was excited. It sounded like a fun technical project that could do good in the world. I bought some along the way, followed projects. Along the way it changed. Yesterday I saw a spam post on Reddit about joining a "pump and dump group", which I had to research. It's groups of people who coordinate a buy of a specific currency, spread false news about thi…

We got our first 0.01 bitcoin in 2011. Libertarian conference, wife gave her email, got crypto. I literally was stealing Gary Johnson's nametag during this time.

Bought my first whole bitcoin in 2015.

Until the end of last year, I had a good feeling about crypto.

The alt-coin madness has me scared for family and friends. They arent listening when I tell them Bitcoin and diversify. They go all-in on pump and dump new coins like TRON and IOTA.

Im actually scared.

Re: South Korea justice ministry prepares to ban cryptocurrency trading

#110

Post by mkirklions »

sodafountan wrote: post #107
prodtorok wrote: post #94

"In an official announcement, South Korean government reaffirms there will be NO TRADING BAN" https://twitter.com/iamjosephyoung/status/951428854085689344

but you won't find this at the top of HN because vast majority of HN hates crypto-currency, most likely because it was once cool now it's more mainstream so it's not cool anymore. What a shame.

Newbie here, I am not getting that feeling.

I think people hate the Alt-coins pump and dump schemes.

With the exception of Ethereum and Monero, the rest are entirely speculation IMO.

I hope crypto solves a problem, but there will be a lot of people losing money because they got caught up in the $$

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