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/biz/ - Business & Finance

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6254654 No.6254654 [Reply] [Original]

South Korean working on bill to close virtual currency exchanges.
The Justice Department assessed the virtual currency market as a fraudulent bubble.
Park expressed concern that the virtual currency trading that is currently taking place is showing gambling speculation. "Virtual currency trading is in fact similar to speculative gambling," he said. "When you look at price fluctuations, it's a whole different dimension compared to any commodity trading."

What does this mean for the rest of the world?

>> No.6254695

>>6254654

Sauce:
http://news.mt.co.kr/mtview.php?no=2018011111488242058

http://news.topstarnews.net/detail.php?number=346165

>> No.6254721

fuck. do we cash out now?

>> No.6254766

this is 2 months old ya fuckin doofus

>> No.6254777

wait hold on is kim jung un satoshi nakamoto

>> No.6254779

This is just China FUD jnr. No way the Koreans are going to screw themselves out of cutting edge technology, that's how they became first world in the first place.

>> No.6254781

>>6254654
Idk but gooks will probably move to US/EU exchanges? Anyway i hate these rice-eyed fuckers. They always fuck shit up.

>> No.6254797

>>6254654
Which exchanges are korean?

>> No.6254839

>beat coins

>> No.6254940

>>6254797
Bithumb and Coinone among some others

https://www.reuters.com/article/us-southkorea-bitcoin/south-koreas-major-cryptocurreny-exchanges-raided-by-police-tax-authorities-idUSKBN1F002B

>> No.6254981

>>6254654
Governments don't want the poor people to become rich. Simple as that.

>> No.6255002

>>6254654

so what?

this too shall pass

>> No.6255019

>>6254654
it's only natural for governments to want to get their share of free money out of people. government and crypto are totally incompatible as the later seeks total independence from the first "regulation" doesn't make any fucking sense as it throws by the window the sole purpose of the cryto making them useless and bank to the shitty banking system. I thnk exchanges are going to have to go under to the DEEP WEB to thrive

>> No.6255092

>>6254940
"Gambling problem." So code words for some idiot lost a ton of money and complained to the government. Apparently people can't be responsible for their own decisions.

Then again seeing as CMC pretty much kicked out the Koreans will this even change much? They'll just go through other exchanges. We might be able to make some money off this.

>> No.6255151

>>6254654
Translate this one story created today;
http://news.sbs.co.kr/news/endPage.do?news_id=N1004568264&oaid=N1004568810&plink=REL&cooper=SBSNEWSEND

"the last two betting game that swept the nation's mid-cloth 'Sea Story'. We have created more than one million victims with sadness and addiction.

The description of the virtual currency closure bill of the Ministry of Justice obtained by SBS departs from this sea story.

The Justice Department sees the virtual currency speculation craze will have a national impact that is more than 10 times the story of the sea. "

>> No.6255235

>>6254654
The banks are feeling the heat of cryptos and are beginning to squirm. These efforts are too little too late.

>> No.6255337
File: 242 KB, 1559x1013, capture.png [View same] [iqdb] [saucenao] [google]
6255337

>>6254766
>this is 2 months old ya fuckin doofus

Do you mean breaking news?

>> No.6255401

>>6255151
>Stop making money you fucking serfs
>WE ARE THE NOBILITY HERE

>> No.6255431

>>6254781

>implying "No ICO" "Land of the Free" is any better

>> No.6255467

Nanny state with a shadow government that refuses to let go of its power.

I think Korea has bigger issues.

>> No.6255498

>cmc removes korean exchanges
>korea bans exchanges afterwards

>> No.6255627

>>6255498
Jesus fucking Christ. Dude wtf that's some tinfoil shit

>> No.6255630

>>6255431
>was going to buy 50k worth of ICX during its ICO
>couldn't
Never going to not be pissed about that. Could have an extra 5 million.

>> No.6255774

>>6254940
What about cobinhood?

>> No.6255781

WHAT THE ACTUAL FUCK IS WRONG WITH THIS COUNTRY

>> No.6255923

FUCKING GOOKS ILL KILL THOSE MOTHERFUCKERS

>> No.6255977

>>6255498
CMC was trying to lessen the impact of the news. Based

>> No.6256065

>>6254654
Good thing the rest of the world only listens to the white man and not these slant eye puppy eaters

>> No.6256067

TRUMP NUKE THOSE FUCKS

>> No.6256071

THOSE GODDAMN DOG EATING SAVAGES, IM GOING TO RIP THEIR FUCKING HEADS OFF!!!!

>> No.6256165

>>6254654
>beatcoin

>> No.6256176

>>6255498
Funny timing

>> No.6256199

Kill them i dont even fucking see the issue anymore.

>> No.6256259

>>6254654

Our only hope now is for our Great Leader to set up a new cryptocurrency exchange in North Korea. All the money will then flow from south korea to north korea, and the south korean puppet state finally collapse

>> No.6256274

>>6255923
calm down Mark Wahlberg

>> No.6256275

Kucoin??

>> No.6256284

So are they just banning anonymous crypto trading or the whole fucking thing?

>> No.6256289

>>6255498
I'm sure they had some insider info. Korean exchanges were being questioned by tax authorities last week.

>> No.6256304

>>6255774

Cobinhood wasn't mentioned but I imagine this will impact all SK exchanges

>> No.6256320

>>6254654
>"Virtual currency trading is in fact similar to speculative gambling," he said. "When you look at price fluctuations, it's a whole different dimension compared to any commodity trading."
who the fuck cares fucking retarded piece of shit chink? I can do with my money whatever I want... holy fuck I hate these retarded clowns.
They're just jelly, fucking salty nocoiners.

I'm not selling anything, they probably won't ban, and are trying to cause panic.

>> No.6256338

U.N imposes increased economical sanctions
North Korea and South Korea have entered talks
South Korea bans exchanges
North Korea becomes haven for crypto
We all fund North Korea's nuclear program via crypto fees

All hail the glorious leader Kim

>> No.6256366

this is an organized FUD, and isnt even news. This story is at least two months old, and they're only "suggesting" banning anonymous trading, not all trading.

>> No.6256408

>>6256366
Anon I'm sorry but I think we're fucked

https://www.cnbc.com/2018/01/10/south-korea-official-reportedly-readying-bill-to-ban-all-cryptocurrency-trading.html

>> No.6256415
File: 17 KB, 328x328, SeYpyFsd_400x400.jpg [View same] [iqdb] [saucenao] [google]
6256415

Our only hope now is for our Great Leader to set up a new cryptocurrency exchange in North Korea. All the money will then flow from south korea to north korea, and the south korean puppet state finally collapse...

>> No.6256440

>>6254981
this, they want us to become cattle, a commodity.

Shuffle into the train cattle

>> No.6256453

>>6256366
https://www.cnbc.com/2018/01/10/south-korea-official-reportedly-readying-bill-to-ban-all-cryptocurrency-trading.html

>> No.6256463

The ruling aristocracy can not allow us lowly plebs to challenge their dominance.

>> No.6256512

>>6254654
https://twitter.com/iamjosephyoung/status/951300898571018241

Don't panic. The South Korean government has been preparing a #cryptocurrency exchange closure bill since December 13, to shut down any exchange that is not compliant with regulations.

The gov't already said it intends to regulate / foster the market.

>> No.6256549

>>6256415
Let's hope he nukes south korea before they can ban crypto

>> No.6256567

>>6256415

what is the world coming to...

>> No.6256586
File: 387 KB, 1440x2560, Screenshot_20180111-040835.png [View same] [iqdb] [saucenao] [google]
6256586

REEEEEEE FUCKING GOOKS

>> No.6256633

>>6256549
Kek

>> No.6256657

this is targeted for weak handed burger normies . look at the fucking time in burgerland and gookland.These fuckers are as smart as jews.

>> No.6256668

Well, I sold low, bought high like a retard on the bull trap and now I'm getting fully JUST'd. Lost all the fiat I put into this tonight in a flash. I can't sell at this point but I think I'm done with crypto and /biz/ for awhile. A normie down. Gonna just try to take my mind off this shit.

I'm just lucky I only have a few grand in this. Feel bad for those losing tons of money. Goodnight boys.

>> No.6256681
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6256681

SORRY FAGGOTS POOLS CLOSED DUE TO AIDS HEY CHAD HE THOUGHT HIS MONOPOLY MONEY WAS REAL HAHAHAHHAHA ANON YOURE SO FUNNY

>> No.6256686
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6256686

>>6254654

It doesn't seem unusual to me that if you live in a country where you are arbitrarily paying 10% more for crypto SOMEBODY is ripping you and your countrymen off and maybe they need to get nailed for it

>> No.6256703

>>6256512
NO, that is not what is reported:
""There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park Sang-ki said at a press conference, according to the ministry's press office.

>> No.6256716

>>6256668
All you had to do was wait

>> No.6256743
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6256743

EVERY TIME I REFRESH DELTA I'M LOSING LIKE 1000 DOLLARS WHAT THE FUCK IS HAPPENING

>> No.6256784

>>6256716
Wrong place wrong time. Just happened to be looking at the chart and reading the FUD at the same time instead of doing something else.

Like I said, I don't have a ton of money in this so its ok. Didn't invest more than I could afford to lose, but I made a dumb move and now I want to kms.

>> No.6256810

>>6256338
NUKECOIN

>> No.6256818

>>6256743
you and me both brother

>> No.6256824

I guess anon really is going to get to buy in at $5

>> No.6256913
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6256913

call it whatever you want its all manipulation the Chinese banned bitcoin how many times now?and how many times they changed their mind? this is nothing new Korea playing games with your emotions just chill the fuck out

>> No.6257017

>20millions dissapear in TEN MINUTES
HOLY SH-
>30 millions appear in 5 minutes near the bottom
Oh, just the kikes using their media control to buy cheap bitcoins i see, kek

>> No.6257074

Old news and who gives a fuck anyway, Korean exchanges are cancer. No fees it's just whales wash trading.
If it were to happen anyway, people just take their money elsewhere. But it won't because south Korea will be one of the pioneering nations for crypto adoption, just fud

>> No.6257117
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6257117

>> No.6257154

>>6254779
yeah this is state level fud to scare the normies

>> No.6257242

Just sent an ETH to qryptos an hour before hearing this news.

JUST

>> No.6257304

>>6256784
You've learned a lesson a lot of people here had to learn months ago during the China fud
Remember to never trade your btc into and out of fiat
That's what alts are for.

>> No.6257369

if you have XRP EXIT AND GO INTO USD NOW

>> No.6257477
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6257477

>>6256415
Great Leader must!

>> No.6257617

Someone is gathering shitton of ETH atm if u look at recent trades.

>> No.6257914
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6257914

Didn't get out in time. Fuck it. I'm just leaving my coins where they stand.

Riding this shit into the ground.

>> No.6257951

what is they claim they are protecting the people from exactly?

>> No.6258102

>>6257951
they want to protect people from their irrational exuberance. typical big gov nanny

>> No.6258114
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6258114

I told EVERYONE yesterday to get out and exactly why ETH was rising so fast.
Peoples with their retard HODL memes going to lose 60% of their worth

I only warned you retards on here because I dont give a fuck about normies on reddit I wanted to see the money flow into the neckbeards autistics who cruise around here

>> No.6258143

>>6254654
we don't need south korea, buy up the dip

>> No.6258267

what coins should i buy on this massive dip?

>> No.6258280

>>6256259
Lmfao. He should totally do this.

Just set up trading outposts on the borders.

>> No.6258301
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6258301

>>6257914

>> No.6258361

>>6258143
.... you unequivocally need south korea the largest exchanges in the world are based in korea

>> No.6258405

>>6254981
I have my suspicion that capitalism is like a casino. They say you can win, but the story changes when actually start winning.

>> No.6258539
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6258539

No moving. If my portfolio dies then it dies.

>> No.6258795
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6258795

>>6254766
FUCKING PAJEETS GET OFF MY BOARD REEEEEEEEEEE

>> No.6258922

>>6258114
This market is too unpredictable, we don't know whether IF it will crash the next day or the week after. It's hard to cash out as well because of greed.

>> No.6259040

wasnt evertything bleeding when China said they would ban bitcoin?

What happened? Oh yeah the chinese bought it all cheap when evreyone sold at a loss cuz they thought it was going to 0

enjoy faggot

>> No.6259116
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6259116

These posts alone if showed to South Koreans would make them change their minds lmao

>> No.6259147

Time to short. It's only going to dip lower.

What are the best sites to do margin trading?

>> No.6259165

>>6258539
Yep pretty much

>> No.6259179

>>6256274

Kekkkkkk

>> No.6259605

>>6255977
>Instead of 1 crash we get 2 crashes
Yes how based

>> No.6259903
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6259903

;^)

>> No.6260046
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6260046

>>6259903
>trusting south korean looks
AAAAAAAAAAAAAAAAAAAAA