[BREAKING NEWS] Good News: South Koreans To Resume Crypto Trading In 7 Days

gabmen

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Quote from: Kemarit on January 24, 2018, 10:42:39 AM

Quote from: rappydoo on January 24, 2018, 09:57:38 AM

manipulated, hahaha clearly korea has no law no ban cryptocurrency, some high officials just want to benefit from bitcoin thats all.

Haven't you heard the news?

(https://www.coindesk.com/korean-regulator-investigating-staff-insider-trading-of-cryptocurrencies/)

Quote from: QuestionAuthority on January 24, 2018, 09:56:01 AM

Does anyone ever read the posted links?

This is frightening news. The government is not going to allow new accounts to open until banking auditors go into the exchanges and identify every btc owner for the purpose of stealing their money. The depositors will either be accused of money laundering and all of their funds will be stolen by the government or they will have the shit taxed out of them and the government will steal a quarter of their funds.

This is exactly the kind of government intrusion Bitcoin was supposed to stop. How can any of you consider this good news? Wouldn’t it be great if world governments all stormed every bitcoin exchange at once and stole your coins? If you’re going to be fucked with, tracked and taxed why don’t you just use fiat?

Agreed, South Korean exchanges will be centralized, all transactions are going to be transparent, all bitcoin address will now have a name attached to it. So there would be no anonymous trading moving forward.

Quote

Banks are expected to introduce the system, which will require cryptocurrency exchanges to share users‘ transaction data with banks, late this month or early next month.

That's scary shit. Bitcoin was supposedly (pseudo)anonymous. But with that kind of setup, it will very well defeated the design and the goal of Satoshi. I guess there's still the mixing and tumbling services to exchange your bitcoins, but I don't know how South Korean government will deal with it. Let's see how it goes next month. Grin

Well, i think there are people here whose only concern is btc price, thinking that sokor's regulated approval will pump btc again. I agree with yoi dude. That doesn't sound very comforting and that regulation pretty much takes away the anonymity of trading in crypto. If people look at closely, this should be a cause for concern if
other governments will follow suit

Kemarit

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Quote from: rappydoo on January 24, 2018, 09:57:38 AM

manipulated, hahaha clearly korea has no law no ban cryptocurrency, some high officials just want to benefit from bitcoin thats all.

Haven't you heard the news?

(https://www.coindesk.com/korean-regulator-investigating-staff-insider-trading-of-cryptocurrencies/)

Quote from: QuestionAuthority on January 24, 2018, 09:56:01 AM

Does anyone ever read the posted links?

This is frightening news. The government is not going to allow new accounts to open until banking auditors go into the exchanges and identify every btc owner for the purpose of stealing their money. The depositors will either be accused of money laundering and all of their funds will be stolen by the government or they will have the shit taxed out of them and the government will steal a quarter of their funds.

This is exactly the kind of government intrusion Bitcoin was supposed to stop. How can any of you consider this good news? Wouldn’t it be great if world governments all stormed every bitcoin exchange at once and stole your coins? If you’re going to be fucked with, tracked and taxed why don’t you just use fiat?

Agreed, South Korean exchanges will be centralized, all transactions are going to be transparent, all bitcoin address will now have a name attached to it. So there would be no anonymous trading moving forward.

Quote

Banks are expected to introduce the system, which will require cryptocurrency exchanges to share users‘ transaction data with banks, late this month or early next month.

That's scary shit. Bitcoin was supposedly (pseudo)anonymous. But with that kind of setup, it will very well defeated the design and the goal of Satoshi. I guess there's still the mixing and tumbling services to exchange your bitcoins, but I don't know how South Korean government will deal with it. Let's see how it goes next month. Grin

irsada

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Quote from: QuestionAuthority on January 24, 2018, 09:56:01 AM

Does anyone ever read the posted links?

This is frightening news. The government is not going to allow new accounts to open until banking auditors go into the exchanges and identify every btc owner for the purpose of stealing their money. The depositors will either be accused of money laundering and all of their funds will be stolen by the government or they will have the shit taxed out of them and the government will steal a quarter of their funds.

This is exactly the kind of government intrusion Bitcoin was supposed to stop. How can any of you consider this good news? Wouldn’t it be great if world governments all stormed every bitcoin exchange at once and stole your coins? If you’re going to be fucked with, tracked and taxed why don’t you just use fiat?

I agree with you.
because the krypto world is a digital world that is not set by the government.
may be the reason satoshi nakamoto makes bitcoin that there is no government intervention to control our money.
if it continues like this will many other countries will follow.

DAVETUN

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Bitcoin is the currency of this age

What a sharing news,sure the price of BTC will be on the increase in the next few days as lots of investors will be coming into the space, koreans population has a major influence in crypto space.

nightxglow

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It's such a good news to know that south korea's president is being really supportive with a new change. They even let the bank introduce crypto and even provide services about it.
Too bad not all countries do this, they still think crypto currency is a threat for banks and banned it.
I don't really worry about the price though, since however i think it's a good opportunity to buy btc since the price is low. But i'm sure it'll increase eventually and becomes high again like before.

Rosilito

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Wish for the rain? Then deal with the mud too.

Quote from: vladimir21 on January 23, 2018, 07:01:15 AM

Finally btc price will raise again

https://news.bitcoin.com/korean-crypto-exchanges-share-data-with-banks-new-account-system/

Definitely, this is an opportunity to buy bitcoin because there is an assurance that bitcoin price will spike it up again like what it did on last year's hit. According to some article I have read six korean banks will now allowing the opening of accounts which can withdraw and the sametime deposit, and as well as transfer of funds on this coming January 30 but with a few restrictions. By this it could be an assurance for us that bitcoin value will definitely regain again its high value.

rappydoo

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manipulated, hahaha clearly korea has no law no ban cryptocurrency, some high officials just want to benefit from bitcoin thats all.

QuestionAuthority

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You lead and I'll watch you walk away.

Does anyone ever read the posted links?

This is frightening news. The government is not going to allow new accounts to open until banking auditors go into the exchanges and identify every btc owner for the purpose of stealing their money. The depositors will either be accused of money laundering and all of their funds will be stolen by the government or they will have the shit taxed out of them and the government will steal a quarter of their funds.

This is exactly the kind of government intrusion Bitcoin was supposed to stop. How can any of you consider this good news? Wouldn’t it be great if world governments all stormed every bitcoin exchange at once and stole your coins? If you’re going to be fucked with, tracked and taxed why don’t you just use fiat?

SGMPhil

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01010011 01000111 01001101

Interesting news. Since the news a couple of weeks ago in SK seemed to be a catalyst for the recent BTC price drop, it will be interesting to see if this new news has the reverse effect and causes a bump in price.

Amilhussin24

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Bitcoin banned in other countries is bad news for bitcoin holders. Banning bitcoin has a big changed in cryptocurrency, the price will get low. All of the altcoins are affected, and many lives are affected too. So if it is true, that the south korea will resume the crypto trading. It really makes me feel happy im sure all of us is happy

Cheers.

oddwh

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I see that as a neutral news, with its positive and negative effects.

Yes, this is better than a global shut down, but in my opinion this can hurt cryptocurrency mind, which is to avoid banks and financial system. This might be positive for mainstream people, who will enter in the market more easily and with more trust.

I don't think this news will have a significant impact on the price, "good" news have less impact than negative news.

Finally, they discovered they can earn much more with taxes than banning bitcoin

Visin

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Quote from: Hmei777 on January 23, 2018, 11:13:01 PM

this is very good news because we will soon get out of the slump. and our patience for so long will be fruitful. and investors will not feel any more loss.

That's nice and all though there were a lot of posts on this forum because of the Korea Government. They were just posting FUD huh?

Kakmakr

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This was just a repeat of what happened in China a few years ago. The Chinese government saw that some exchanges were acting recklessly and they stepped in before the shit hit the fan.

They tightened the regulations and closed some of the exchanges and only allowed then to re-open once they adhered to these regulations.

Let's hope not too much harm was done and things can continue as normal now. $20,000 here we come!

jakezyrus

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Quote from: Ba37 on January 24, 2018, 12:38:39 AM

That is a good news. If it is true and market takes it positive we might see a slight increase. Last couple of weeks we had so much of FUD, market is in desperate need for a good news.

not only a slight increase but overall a total pump and this event can be possibly help bitcoin out of its missery. last weeks fuds are mostly from south korea and some of them are from the popular known people like warren buffet and somehow that is also the reason why bitcoins value drop more evenly despite of a little recovery last two days ago but overall lets just still hope that this news is really legit because if it is then we should probably expect more good gains for bitcoin in the future.

Ba37

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That is a good news. If it is true and market takes it positive we might see a slight increase. Last couple of weeks we had so much of FUD, market is in desperate need for a good news.

Singbatak

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That's the great news for the Bitcoin users. Especially those who invest in it. And better news for us, if it's going to go up. It's great for those who buy Bitcoins, and want to sell it. Hopefully the ups and downs will continue.

Hafamot

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Good news, I wish the rest country follow the suit. This will also gear up bitcoin trading..

Rules85

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South Korea, it seems, has not closed the exchanges.
But that would be good news for the entire cryptocurrency market, since taxing encrypted currencies would mean that it would be legal to declare an cryptocurrency market. Cheesy

Argoo

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As far as I know, South Korea did not prohibit trade in crypto currency. First, they introduced mandatory identification data for trading in crypto currency to prevent persons under the age of 19 from entering the trade, then imposed a 24.2 percent tax on owners of crypto-exchange exchanges, but nobody banned trading the crypto currency there. It may mean removing previously imposed restrictions, then really this is very good news. Although I do not think that it was the previous bad news from South Korea that influenced the fall of bitcoin. Here there was a set of reasons.

Perseusallen

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that wasnt surprise us cause we all known that south korea is a genuine country so it means that they thinking and waiting all the time. it says that South Korea’s government continues its efforts to rein in the trading of virtual currencies such as ether and bitcoin with a new announcement from South Korea’s Financial Services Commission. Investors will now be required to convert their virtual bank accounts to real-name bank accounts in order to continue trading. Deposits and withdrawals are allowed only between real-name bank accounts and matching crypto-exchange accounts within the same bank.

Topic: [BREAKING NEWS] Good News: South Koreans To Resume Crypto Trading In 7 Days (Read 408 times)