South Korea justice ministry prepares to ban cryptocurrency trading

Post by mkirklions » Thu, Jan 11, 2018, 3:22 PM UTC

jsnk wrote: post #52

kennethologist wrote: post #36

Multiple tweets stating this is all FUD. Can someone contradict or corroborate this claim? Lots of "I talked to my contact in South Korea who works for a major exchange, don't fall into the FUD. The ban is ONLY applicable to exchanges that are not following the previous KYC regulations."

Those tweets are the ones that are FUD. https://youtu.be/nK-Lid5wO-Y The ban will come. In this video, the commentator goes into detail what the South Korea government plans to do and what the government thinks about it. They see cryptocurrency as the second coming of "Bada Iyagi", which was a gambling game that got banned a couple of years ago [1]. [1] http://world.kbs.co.kr/english/archive/program/news_zoom.htm...

Post by aussie1233 » Thu, Jan 11, 2018, 3:44 PM UTC

konschubert wrote: post #102

gonzo41 wrote: post #86

Earlier quoted context omitted.

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?

Post by burger_moon » Thu, Jan 11, 2018, 3:46 PM UTC

lozenge wrote: post #18

sputknick wrote: post #15

Earlier quoted context omitted.

I see it as different. Mt Gox was a legitimate business, with honest employees who were poor at implementing security. Someone saw an opportunity and stole. That exists even with regulation. My issue is with the rise of people who's intent from the beginning is to decieve. Similar to the scam coins that will never deliver a working product.

Mt Gox was insolvent long before it officially was. Mark tried to trade using money that didn't exist in order to bring it into the black, but he never managed. Look up wizsec's analysis.

Post by teekert » Thu, Jan 11, 2018, 3:49 PM UTC

mkirklions wrote: post #109

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…

Post by ilkan » Thu, Jan 11, 2018, 4:01 PM UTC