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Topic: I'm afraid of the crypto craze in Korea. - page 3. (Read 316 times)

legendary
Activity: 3080
Merit: 1500
April 01, 2021, 09:00:40 AM
#4
I'm also a crypto industry worker, but these days, the Korean crypto market seems to be really too dangerous. It is becoming more speculative than investment, very concerned. Along with the frenzy of cryptos following real estate and stocks, the gap between the rich and the poor is getting wider and wider, and this seems to flow in the opposite direction to the value we hoped for through bitcoin, which is very frustrating.

Bitcoin was always a speculative asset! Since when did you see value investing in bitcoin market? Even if you have seen, that's a very minor percentage of the the crypto users. Bitcoin is flourishing around the world because people are able to make money out of it. If its price comes down to zero, no one would care about it anymore!

Also bitcoin never actually helped the disparity between the rich and poor. It had a chance to do so during its initial days but that's long gone! My suggestion is to think about yourself and get into the game to make your pocket a little more heavier!
legendary
Activity: 3332
Merit: 6809
Cashback 15%
April 01, 2021, 08:38:16 AM
#3
the gap between the rich and the poor is getting wider and wider, and this seems to flow in the opposite direction to the value we hoped for through bitcoin, which is very frustrating.
Yeah well, that doesn't surprise me.  The rich are always going to have more capital to invest in things like bitcoin and they're the ones who reap the most benefit from doing so.  I don't think the poor have much use for bitcoin at all, despite what a lot of people have said over the years about it being able to help the unbanked--and that's not exclusive to Korea or any part of the world, either.

It also doesn't surprise me that bitcoin is booming in Korea, and I'm sure a lot of Koreans are over-investing in it just like people all around the world did in 2017.  That's just what happens when you've got an asset that keeps making new all-time highs.  It's a gamble, but I'm sure a lot of Koreans are going to come out ahead, rich or poor.
mk4
legendary
Activity: 2716
Merit: 3817
Paldo.io 🤖
April 01, 2021, 08:26:54 AM
#2
It is becoming more speculative than investment, very concerned.

Just like how it's been.. since forever? Tongue

We've been through such hype cycles in the past, and like it or not it will happen again some time in the future. Some people will make money by holding long-term, and some will get burned by buying the top and panicking when it goes down temporarily. It's unfortunate, but that's how the market works.
newbie
Activity: 26
Merit: 0
April 01, 2021, 06:49:42 AM
#1
I'm also a crypto industry worker, but these days, the Korean crypto market seems to be really too dangerous. It is becoming more speculative than investment, very concerned. Along with the frenzy of cryptos following real estate and stocks, the gap between the rich and the poor is getting wider and wider, and this seems to flow in the opposite direction to the value we hoped for through bitcoin, which is very frustrating.
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