Bitcoin Forum

There have been reports that the government of Kim Jong-Un have started mining bitcoins, as a way of overcome the global economic ban of his country. Which brings us to the question: How could this affect cryptocurrencies' image to the average citizen, giving the fact that other governments could use this to enforce regulation on the matter?

Let me know your opinion guys

EDIT: source: https://www.crypto-news.net/north-korea-reportedly-starts-mining-bitcoin-and-targets-digital-currency-exchanges/ (https://www.crypto-news.net/north-korea-reportedly-starts-mining-bitcoin-and-targets-digital-currency-exchanges/)

Well sources please ? And by that I want registered legal worldwide sources. Saying that there are "reports" doesn't mean that anything of this is true or false. People every now and then come up with anything and spread it around the internet.

Anyway, if this came out to be true I wouldn't be impressed. Since it's the only economical thing free of regulations, he surely should give it some importance.

How it affects crypto to average people ? Well I don't think it would be worse to people who already believe that it's used only in illegal stuff (since a year or 2 back that's what all you could about btc in the media). Telling them NK uses it won't matter to this type of people.

But others who're interested in it but haven't joined yet might actually fall back.


Well governments aren't waiting for any specific thing to ban or enforce any kind of regulations on crypto. If they want to ban it they'll come up with the perfect reasons to the public. Just saying that it is a danger to "national security" is enough for them. Who knows maybe govs are investing in btc too.

Don't worry, I'm sure their energy efficiency is massively ineffective and therefore their mining cost is abysmal. NK isn't known for its stellar success in many ventures. Although, kudos to them for thinking outside the box.

LOL.
What are they going to use for bitcoin mining? old 386-processors or something.
Do they even have modern computers?

Probably would be much more efficient, if they sell something in exchange for bitcoins. Eg. missile technology.

On the same note, should we stop using dollars, because criminals are using it much more then bitcoins?

I think it's fake. As far as I know in North Korea, problems with the Internet access. May be this is done at the government level, but it's easy to track and I think that if you want the Americans will stop it. China has always had close ties with the Koreans and maybe the Chinese will eventually establish the mining in Korea if the Chinese government does not cancel its ban.

Source on the OP


EDIT: it is easier to ditch new things than old and traditional, specially if it is "threatening" their interests. And yes, you could use any excuse to ban them, but why bothering in thinking so much if NK is giving you one of the best reasons to ban cryptocurrencies?

that's where you're wrong, north korea could easily obtain advanced computing technology from china. i assume that this thing is the outcome of the boycott by many government. north korea trying to gain additional earning by targetting various exchanges. just hope many exchanges to tighten their security for now and future.

I think it's just a fake news. How would they know that? This is just a black propaganda from their enemies. Also i don't think that NoKor has the technology to do that. They don't even allow to use internet there. But NoKor should mine Bitcoin to overcome those sanctions implemented by UN and other countries. Bitcoin is their best option. I don't know where that s came from. But im sure it's a fake news to destroy the country and to create tensions. I wouldn't be surprised if this news came from America.

Yes That is correct ,internet is banned in north Korea but still bitcoin remain their only choice to use for online\outside payments . that why top level countries against bitcoin and other good coins .