South Korea justice ministry prepares to ban cryptocurrency trading

Post by [deleted] » Thu, Jan 11, 2018, 10:23 AM UTC

colemak0 wrote: post #53

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."

http://www.kookje.co.kr/news2011/asp/newsbody.asp?code=0200&... Basically the ministry of Justice announced they are working on banning exchanges between crypto and fiat currency in Korea, and they ultimately aim to close down all exchanges. Few hours later, ministry of Strategy and Finance calls out that the ministry of Justice is announcing as if their words are final, but not all government bodies have agreed to t…

Post by Agebor » Thu, Jan 11, 2018, 10:37 AM UTC

VMG wrote: post #51

2muchcoffeeman wrote: post #37

Earlier quoted context omitted.

It’s a bit like finding a piece of code that does something crazy. If you ask around, there could be a really good reason for it. I don’t think we’re going to have a usable crypto currency until economists get involved, or we simply relearn all the lessons we’ve learnt to date.

Yes, crypto is not complete until there are synthetic CDOs!

Post by newsbinator » Thu, Jan 11, 2018, 10:56 AM UTC

WillReplyfFood wrote: post #69

dlau1 wrote: post #11

Earlier quoted context omitted.

Keeping track of crypto amidst all the hype recently, it's abundantly clear to me that the recent explosion of speculation based trading is a signifier that cryptocurrency is a bubble just waiting to burst. I don't think this is bad in any right. It looks (and I grew up in the bay area through turn of the century) just like the dot com bubble. The promising part of this is that the underlying technologies being devel…

The interesting thing is to cash out now- and invest into the amazon of cryptocurrency, when all is going down.

Post by newsbinator » Thu, Jan 11, 2018, 11:01 AM UTC

kindfellow92 wrote: post #42

samsonradu wrote: post #35

Earlier quoted context omitted.

Yeah, heard this 100 times already. But why does it have to be like the dot com? What if it just stays a niche market for 50 years? What you say implies that crypto is as full of potential as the internet was to make it possible for businesses to grow as big as Google, Amazon. Not mentioning of course a lot of other factors that made Google, Amazon big like political influence, globalisation, lack of competition/regu…

> 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…

Post by Nursie » Thu, Jan 11, 2018, 11:02 AM UTC

kindfellow92 wrote: post #42

samsonradu wrote: post #35

Earlier quoted context omitted.

Yeah, heard this 100 times already. But why does it have to be like the dot com? What if it just stays a niche market for 50 years? What you say implies that crypto is as full of potential as the internet was to make it possible for businesses to grow as big as Google, Amazon. Not mentioning of course a lot of other factors that made Google, Amazon big like political influence, globalisation, lack of competition/regu…

> 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…