Topic: South Korea, the BTC pump and the household credit problem - page 2. (Read 1204 times)
Japan and South Korea officially legalized the use of the bitcoin so helps increase the price, if China following Japan and South Korea, to legalize bitcoin then prices will rise by up to 1000% in a year.
I think this is a good news for the development of the bitcoin, if many countries officially using bitcoin then prices will continue to skyrocket and never drop like before.
Well they haven't officially adopted it but there seems to be a great demand from that country and even though it's going to hold up the price high we should be certain they are going into the right hands and not the bad people who intends to perpetuate crime with cryptocurrencies.
Both of you please take some time to read the topic in the original post and then tell us your thoughts about it. Im sure that will find that theres some validity in what Im trying to tell you.
I think this is a good news for the development of the bitcoin, if many countries officially using bitcoin then prices will continue to skyrocket and never drop like before.
Well they haven't officially adopted it but there seems to be a great demand from that country and even though it's going to hold up the price high we should be certain they are going into the right hands and not the bad people who intends to perpetuate crime with cryptocurrencies.
surely the primary reason for any premium is that it's a small market and hard, or impossible, for foreigners to get fiat in and out. you build a closed loop like that and it's always gonna go and do its own thing.
north korea has always been looming on the horizon.
north korea has always been looming on the horizon.
If you check the volume among the BTC/KRW trading pairs you will be surprised how large they are. I havent checked today but their volumes are tens of millions more in $. Are those ordinary people's money or institutional investors?
I think this is a good news for the development of the bitcoin, if many countries officially using bitcoin then prices will continue to skyrocket and never drop like before.
surely the primary reason for any premium is that it's a small market and hard, or impossible, for foreigners to get fiat in and out. you build a closed loop like that and it's always gonna go and do its own thing.
^^^^this
The capital controls and other factors such as the low exchange limits make it nearly impossible to move enough money to take advantage of the arbitrage. Also it seems the WON to USD conversions on the exchanges basically wipe out the arbitrage completely when you do the research.
This are some of the disadvantages of crypto currencies as an anonymous transactions. Bitcoin and crypto currencies in general did not allow the government to ascertain the capital flight, money in circulation and the ability to spend. I am an advocate of removing anonymous transactions from bitcoin features.
surely the primary reason for any premium is that it's a small market and hard, or impossible, for foreigners to get fiat in and out. you build a closed loop like that and it's always gonna go and do its own thing.
north korea has always been looming on the horizon.
north korea has always been looming on the horizon.
Look at the prices of BTC in all the different exchanges and take notice of the higher price in the Korean exchanges. It was trading at a $2000 premium this week and has lowered to a $1000 premium.
Why? Could there be an ongoing capital flight happening? Their household debt is totaling $1.2 trillion. An all time high.
http://pulsenews.co.kr/view.php?year=2017&no=344490
Another reason for an ongoing capital flight scenario is the concerns over South Korea's face off against North Korea.
http://ecard.nationmultimedia.com/news/business/EconomyAndTourism/30312620
Maybe theyre using BTC to get money out of their country because the banking system doesnt allow them to.
Why? Could there be an ongoing capital flight happening? Their household debt is totaling $1.2 trillion. An all time high.
http://pulsenews.co.kr/view.php?year=2017&no=344490
Another reason for an ongoing capital flight scenario is the concerns over South Korea's face off against North Korea.
http://ecard.nationmultimedia.com/news/business/EconomyAndTourism/30312620
Maybe theyre using BTC to get money out of their country because the banking system doesnt allow them to.
That is a possibility. With the threat of war ever looming, I wouldn't be surprised if those that can afford to would be moving their money out of the country, in preparation for bugging out should conflict break out. This is just the way things are and how they'll continue to be in the near future.
So yeah, sucks for those who'll get left behind. Still wouldn't hurt to keep their bitcoins though. I mean, they can flee later as refugees and exchange their bitcoins in the host country.
Look at the prices of BTC in all the different exchanges and take notice of the higher price in the Korean exchanges. It was trading at a $2000 premium this week and has lowered to a $1000 premium.
Why? Could there be an ongoing capital flight happening? Their household debt is totaling $1.2 trillion. An all time high.
http://pulsenews.co.kr/view.php?year=2017&no=344490
Another reason for an ongoing capital flight scenario is the concerns over South Korea's face off against North Korea.
http://ecard.nationmultimedia.com/news/business/EconomyAndTourism/30312620
Maybe theyre using BTC to get money out of their country to bypass the banking system and the regulators that makes it hard to move money.
Why? Could there be an ongoing capital flight happening? Their household debt is totaling $1.2 trillion. An all time high.
http://pulsenews.co.kr/view.php?year=2017&no=344490
Another reason for an ongoing capital flight scenario is the concerns over South Korea's face off against North Korea.
http://ecard.nationmultimedia.com/news/business/EconomyAndTourism/30312620
Maybe theyre using BTC to get money out of their country to bypass the banking system and the regulators that makes it hard to move money.
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