CRYPTOCURRENCY IN NORTH KOREA - page 3.

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Quote from: mongkie on April 25, 2020, 11:19:34 AM

Quote from: omone1 on April 24, 2020, 10:20:57 PM

I read of how poverty is ravaging that nation, freedom for her people to trade cryptocurrency can turn the tides around as it's doing in some poverty stricken nations that the people have embraced bitcoin and its benefit. Do these people even have access to any exchange in the world? and can they safely convert their crypto asset to their native currency and withdraw same without offending The little rocket man? I once read exchange hacking have been traced to NK, meaning some crypto activities are going on there.

I am just concerned on the freedom cryptocurrency brings could be extended to this nation.

people in North Korea are trained to live a simple life. Commoners dont have access to internet so how come some hackers are from NoKor?
only high ranking people are allowed to use computers and it is not logical for them to hack for money.
on the other hand, legit hackers will surely use location that are not possible to locate so hackers are pointed at North Korea.

No internet? Its no place for someone who is actively supporting blockchain and bitcoin. If you have been enjoying your life with access to everything and suddenly put in NK you'd be begging to get out of there in less than a day. Unless you enjoy watching people praising Kim as their God like Dennis Rodman.

But there was an incident where there is a conference in NK that an ETH developer was caught teaching their government regarding laundering, I have no idea what happens next but if Kim has an interest to blockchain, it will most likely be like China's DCEP.

BitSat19

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Quote from: UserU on April 25, 2020, 11:38:28 AM

Quote from: Twentyonepaylots on April 25, 2020, 11:04:51 AM

This is what I only think of it, even if North Korea welcomes the use of cryptocurrency it would not be beneficial to all its people but only for those in higher ladders. I have watched one of travel vlog in North Korea, it looks strange because their airport has nothing, no people, no staffs not unlike the normal airport and if there is any they are always escorted by korean police. Do you imaging crypto in that country? there is no future at all but it will indeed help the community. They only even have one televised channel for people to watch and that is the news channel, no doubt there are lots of people tried to escape North Korea.

They're even having electricity issues, no way owning a computer would even be possible without frequent power trips. This is the satellite image of NK at night; the dark region.

North Korea facing some serious troubles as they are lacking of basic needs like drinking water electricity food so thinking about cryptocurrency is just no way because censor policy is very stick and all things under control of state officials no one can take any risk about this.

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Quote from: Twentyonepaylots on April 25, 2020, 11:04:51 AM

This is what I only think of it, even if North Korea welcomes the use of cryptocurrency it would not be beneficial to all its people but only for those in higher ladders. I have watched one of travel vlog in North Korea, it looks strange because their airport has nothing, no people, no staffs not unlike the normal airport and if there is any they are always escorted by korean police. Do you imaging crypto in that country? there is no future at all but it will indeed help the community. They only even have one televised channel for people to watch and that is the news channel, no doubt there are lots of people tried to escape North Korea.

They're even having electricity issues, no way owning a computer would even be possible without frequent power trips. This is the satellite image of NK at night; the dark region.

mongkie

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Quote from: omone1 on April 24, 2020, 10:20:57 PM

I read of how poverty is ravaging that nation, freedom for her people to trade cryptocurrency can turn the tides around as it's doing in some poverty stricken nations that the people have embraced bitcoin and its benefit. Do these people even have access to any exchange in the world? and can they safely convert their crypto asset to their native currency and withdraw same without offending The little rocket man? I once read exchange hacking have been traced to NK, meaning some crypto activities are going on there.

I am just concerned on the freedom cryptocurrency brings could be extended to this nation.

people in North Korea are trained to live a simple life. Commoners dont have access to internet so how come some hackers are from NoKor?
only high ranking people are allowed to use computers and it is not logical for them to hack for money.
on the other hand, legit hackers will surely use location that are not possible to locate so hackers are pointed at North Korea.

Harlot

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Quote from: natefielding on April 24, 2020, 11:05:14 PM

There's a man before who are lecturing about cryptocurencies but he end up dying.

Are you talking about Virgil Griffith? The man who lectured in North Korea about Bitcoin and blockchain and then got later on arrested by the US? Because if you are he is still alive and still facing charges against him by the FBI claiming that he provided the North Koreans a "highly technical" information that could help them evade sanctions and do money laundering. Of course this charge is bull shit and they need to provide an evidence or even the whole presentation of Griffith to prove this one but from the news I have been seeing this is none other than a witch hunt that the US authorities do to their own citizens involved in the crypto industry. They are assuming that the North Koreans doesn't know anything about crypto even before Virgil showed up to them but this is highly unlikely.

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Quote from: gentlemand on April 25, 2020, 10:15:29 AM

The average North Korean has zero hope of ever getting anywhere near the normal internet other than on smuggled Chinese phones. They won't have any money to buy any even if they managed that. Even the most privileged North Koreans only get government intranet access.

Crypto is likely to be solely the preserve of government hackers and the extreme elite.

This is what I only think of it, even if North Korea welcomes the use of cryptocurrency it would not be beneficial to all its people but only for those in higher ladders. I have watched one of travel vlog in North Korea, it looks strange because their airport has nothing, no people, no staffs not unlike the normal airport and if there is any they are always escorted by korean police. Do you imaging crypto in that country? there is no future at all but it will indeed help the community. They only even have one televised channel for people to watch and that is the news channel, no doubt there are lots of people tried to escape North Korea.

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For all kind of illegal activities NK uses China as its base. There are many videos on youtube about it. For cryptocurrency they might be doing the same they might be employing hackers from China who in turn are doing these hacks.

Rocket man might not be living any more in this world. I did heard some news about his death. I also heard his sister will be taking over the country.

The above news might not be true.

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Quote from: $crypto$ on April 25, 2020, 10:02:53 AM

Although now in a state of crisis a main leader and there are rumors about being replaced by a sister so I think understanding will also be the same as now so it's likely to be difficult as well as other countries have freedom.

Chances are, the sister is way more dictative than her brother once she takes over.

One look at her face and the we could already hear boss music.

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The average North Korean has zero hope of ever getting anywhere near the normal internet other than on smuggled Chinese phones. They won't have any money to buy any even if they managed that. Even the most privileged North Koreans only get government intranet access.

Crypto is likely to be solely the preserve of government hackers and the extreme elite.

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Quote from: UserU on April 24, 2020, 11:48:39 PM

The majority of the citizens are already deprived of their daily needs, there's no way they'll venture into Bitcoin until a change of leadership takes place. With all the censorship, I even doubt they have Internet access there, let alone knowledge on Bitcoin.

With the recent news on his health issues, it's highly likely his sister would take over. But then, we won't know if she'd follow his path or start opening up to other countries. If the latter happens, it'd be interesting to watch.

It will be very difficult for the people of North Korea to have access like other countries in connection with the internet. This means that it will be very difficult for them to be able to have cryptocurrency or exchange it for fiat money in their country because the assertiveness of a leader will only benefit his own country. to be respected more by other countries.

Although now in a state of crisis a main leader and there are rumors about being replaced by a sister so I think understanding will also be the same as now so it's likely to be difficult as well as other countries have freedom.

Artemis3

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If North Korea is mining, its the State that's doing it. There is no way people would be able to purchase any coin with their North Korean currency.

They are not really connected to the Internet, so aside from the rare embassy high ranking official, such thing is impossible. The State officials copy the things they seem fit from the real Internet to the State isolated network, and most access to this content occurs at public State institutions anyway.

So, no. Forget it. The State has nearly absolute control over the individuals there.

ampere

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North Korea is a nation with very strict policies, and you must adhere to it.
If there are traces of crypto currency from there; then it shows that people conduct blockchain and crypto currency transactions in the country on a rather lowkey off record practices.

If you are in North Korea, and you cannot keep calm and trade bitcoin and crypto currency like other silent traces, then decentralization is not for you.

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Quote from: fiulpro on April 25, 2020, 02:42:15 AM

North Korea is a place which I don't understand why still exists , the ruler should himself be hanged and the people have to start living.
The country is very unfortunate , if someone even talks about something that the government does not approve of , they are killed , mercilessly.
Cryptocurrencies ? People are not even allowed to wear makeup. The internet is something only the rich can afford , I do not think people will be able to use cryptocurrencies there considering what comes with it .
I hope in the near future we see good advancements there , peaceful where people can actually do whatever they want and not live like cattles.

Well, that's the system of how they grew tbh. Not like we could do anything there, since the government is basically nipping the possible source of problems right from the buds itself. Even if it was a small issue, as long as they could determine it goes against their rules, then they'd do it.

The country itself doesn't allow their people in accessing the global internet tbh, giving them no chance of actually trying to bypass the government systems that have been implemented. Probably only a select few even own some form of crypto, and they'd probably be hiding it itself somehow one way or another from literally everyone else. I don't even think that they have that much knowledge with regards to the development of cryptocurrency right now .

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Quote from: natefielding on April 24, 2020, 11:05:14 PM

There's a man before who are lecturing about cryptocurencies but he end up dying.

Well, that pretty much sums it up right there.

While it's probably possible for higher-up individuals, I highly doubt North Korean officials will let Bitcoin get into the hands of the masses, and they'll make an example of those who try.

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Quote from: Latviand on April 24, 2020, 11:47:48 PM

Quote from: Darker45 on April 24, 2020, 11:11:04 PM

The said crypto activities must be highly limited to Pyongyang and probably a major city or two more. All this must also be strictly sanctioned by the government, or perhaps even directly involving the government itself.

Cryptocurrency cannot bring freedom to a place where majority of the people are too poor to even own a smart phone, where internet is limited to the government and a few powerful people perhaps, where stable electricity is not even existing, and so on and so forth.

We all know that North Korea is really strict when it comes to people who want to have their freedom in the governments own hand but they have nothing to do but to follow the law. I think that the cryptocurrency that's happening there is life threatening and can make you go to jail once you got caught. Maybe, the cryptocurrency in North Korea is regulated only by the authority and not with the normal citizen because they want the asset to become beneficial to the economy of the country as a whole. Plus, they can't have any access with the internet and social medias properly that's why it is very hard to live in North Korea most especially if the country prohibits you to experience a normal and free life.

We all know that North Korea is one of the most strict countries for over the world and they are highly restricted all of their people in the community and some of them does not have rights enough to make changes like adopting the use of cryptocurrency before China already accepting the use of the bitcoin because they want to make changes and adaptation but I think they have the current plans about the bitcoins but in North Korea, they have prohibited the transactions between other countries methods of the process because they want to maintain their own. But still, if North Korea would like to make a change about the transaction they will make acceptance of cryptocurrency but today it takes time before they accept because they are focusing on their country first before they made a move of adaptation.

fiulpro

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North Korea is a place which I don't understand why still exists , the ruler should himself be hanged and the people have to start living.
The country is very unfortunate , if someone even talks about something that the government does not approve of , they are killed , mercilessly.
Cryptocurrencies ? People are not even allowed to wear makeup. The internet is something only the rich can afford , I do not think people will be able to use cryptocurrencies there considering what comes with it .
I hope in the near future we see good advancements there , peaceful where people can actually do whatever they want and not live like cattles.

KrisAlex18

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Is it really true? Where did you get the information or the article about the thing? Can you put it here so we can read more about that so we can assure that you say it right because as far as I know, there is a massive portion of people who cannot access global internet and as we all know the internet is the most important thing in the crypto currency that is why some people consider the internet as a threat in cryptocurrency as what I have read in the other post.

Quote from: witcher_sense on April 25, 2020, 12:57:58 AM

As far as I know, the vast majority of the population of North Korea don't have access to global Internet. Internet connection is a privilege of a very narrow circle of people who have power over others.

Well said, I have read this thing before, I don't think why North Korea let this happen to their people, the internet is very important for every people, it our part of our daily lives.

Yaunfitda

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North Korea? They have this group, Lazarus Group. A state sponsored cyber criminals group and they are to blame on some of the South Korea's exchange hack.

We all know that North Korea's regime wanted to control everyone and everything, so I highly doubt that individuals are given the chance to own crypto, much less having access to the internet. If there are people who have crypto, it is the government thru their hacking and used crypto to circumvent trade embargo.

Maestro75

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No news from North Korea makes me happy because of the dictatorship there. Nothing is done through the will of he people. Only one man decides the fate of the rest. Even if there is support for cryptocurrency in that country today, the supreme president can withdraw that support tomorrow without anyone challenging him and the while thing is back to zero. I hate dictators.

sunsilk

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The higher officials might have access to internet and they can freely exchange crypto. If you have heard of the news last time about Ethereum dev, they're really diving into this technology and looking towards it because they can benefit from it and they see it.

Here's that news: US Arrests Ethereum Developer for Training North Koreans to Evade Sanctions

Topic: CRYPTOCURRENCY IN NORTH KOREA - page 3. (Read 736 times)