Bitcoin Forum

My theory is that the Korean Gov't said they would ban crypto so that their special interest groups could buy in at a discount after missing out on all these gains. I think that the korean Gov't eventually will back down to a certain extent.

thats it for my conspiracy theory of the day

edit: i think the Korean market will come back stronger than ever before

Yeah it's a good theory, I have the same feeling as you too, it's like they try to create fud to buy the dip and makes a lot of profit, the same thing happen during the china ban and when Jamie Dimon the CEO of JP morgan try to fud bitcoin and then he bought it during the dip

Yes, it's a very plausible theory. People in certain positions can easily use their power to manipulate crypto market and profit from it.

why would anyone buy high and sell low , argh , FUD  ???

what i learn from my qtum journey is , buy it at $18, hodl it when its down to $9 , sell it when it goes to $90  , and it takes 4 months for just this one trade , where it change my whole lifee

Well said, this is the essence of actual cryptotrading, unfortunately governments can be wolfs disguised as sheep in this game, decentralization and anonymity cause this and there is not much we can do about it, is an inherent risk to this world.

Not just plausible but very likely

I live in SE Asia and the Koreans are indeed a sharp bunch of investors. They know better than most how to play the game.

hey guys how we can actually now which coins the korean/asian like the most??
this is such a big market with tron, omg, wanchain etc

We will never have proof of it but insider trading is nothing new, that happens all the time, and most of the time people are not caught and that is why they keep doing it, it is very easy to see that such a news will lower the price of all the coins and then savvy investors can invest and get some easy profits.

I do like you theory, but to me Govt careless about the threat of Crypto now, don't be surprise that most of these Central Bank have some BTC on hold, these guys are smart people. I think I like what ia going on in Korea because things there is going is gamblimg which is bad for the space

A country that likes technology like Korea. I don't think it's gonna stop the crypto .

well that fud news is not new in the world of crypto. we survived the chinese fud news last year and the wallstreet conspiracy and now the number one hater of bitcoin jamie dimon is one of the people pushing cryptocurrencies now. just hodl and watch how they manipulate the market.

Nah.  It's just the media trying to make it sound worse than it seems.  You know how it is.  They need to do sensationalize stuff to get your attention and increase their ratings.  And Korea BTC ban FUD is the new China BTC ban FUD.  I wonder who's next...  Japan?

But of course there were some people who knew it was all bs and bought at the bottom. 

It is possible, see how rapidly bitcoin lost 2000$ of his value in no time when they announced that theory, now its possible they wanted a quick profit. ;D

I don't think they have a such decision making mechanism that can be used to make profit. It is government not pump dump group. Above all it is fud.

There is a lot of confusion about this even in the country, but all clear!!!  ;D

https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says

s.

due to this: https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says

seems like you were right

The Korean government is already back tracking saying that they still need to work on the bill etc. I highly doubt they are going to ban all exchanges. Seems like a powerplay to the exchanges saying we have the power to ban you, so do as we say

This is a good theory, but I don't think that S. Korean government will ban crypto at all.
However, they will tighen a lot the regulations about crypto and I guess others will follow them.

I've read a bit in to this and it seems like bs.

1. I'm reading SK are banning crypto exchanges from operating in SK
2. I'm not reading anything about SK citizens not being allowed to own crypto or trade outside of SK

If I'm wrong please some one correct me, as there's a huge difference between the 2.

Its a good theory but not convincing enough for a reason why the Korean government isn't banning bitcoin, maybe the reason for this is they plan on bring their own crypto that will be centralized unlike bitcoin which has no central authority....and these guys should know a lot about tech and they wouldnt let the blockchain pass them...

just like every time...
it was so fake, after 5 minutes i saw a response about it that its bullshit

Yeah that is correct. Actually what happen was a raid to exchange sites located in SK, Law makers decided to tighten and regulate this exchanges and was not looking to ban bitcoin as a whole.

I agree with you, we have seen such kind of Fuds last year too but btc has only came back more stronger, i hope we will see big comeback from overall crypto market soon.

lol my mother called me about the news FUDing out "Korea is banning bitcoin, are you going to sell some of your position?!" my response : "i'm not Korean" 8)

It isn't exactly a bad theory even though it has 0 evidence. I think it was Decentralised TV (youtube channel) that pointed out that from a study was concluded that 1/3 of Korean working class is balls deep in crypto. It would not only be economicall suicide to ban crypto, it would become a ''black saturday/sunday'' in the history of Korea as thousands, maybe hundreds of thousands of people commit suicide cause they can't bear the losses.

But they could threaten with it to cause a depression in prices briefly so they have an opportunity to step in. I really can't see such a decision actually being made, plus the general population, if 1/3 is invested would be outraged and maybe even riot and throw over the government of S-Korea. The consequences of such a ban is interesting to think about though when such a larger number of the populace is invested so deep.

I think they're taxing it now, but honestly. If I we're in government, I would probably take a similar stand as Belarus and not tax crypto as your population can only benefit from it on the longer term. Crypto right now as it is still has amazing upside potential, a population that isn't very rich compared to European countries for example could benefit enermously from it.