Korean Investors & Price of Monero and Bitcoin

[LouisSuperPower]

Hi guise,

I am Korean(South of course) and I like to hear international perspective toward price of bitcoin and other non trackable cryptos specially Monero (Because Koreans will be able to buy it from next week). Recently South Koreans are very hyped on crypto currencies these days because of

1. Economical Uncertainties caused by North Korea.
2. The Korean government recently imposed strict regulations on the real estate market to prevent speculations.
3. The largest exchange in Korea "Bithumb" opened offline sales office where anyone can buy and sell their cryptos.
4. Korean Government legalize the bitcoin for a payment method.
5. Massive advertisement of crypto currencies on news papers and TV channels.

But also we are some what worries about possible price down turn because some Asian countries (Korea, Japan, China, Vietnam, etc) started to develop system to impose tax on bitcoin transations. We will be able to buy Monero because it will be listed by Korean exchange Bithumb on this Monday 28. I think Koreans will understand good things about Monero very quickly because of it's hard to track transactions.

What do you guise think about price ranges of bitcoin and other non trackable cryptos in 1 year?

Sorry for my bad English but Thanks for reading.


Cheers,

D.H Park

[toty888]

How much you think monero could rise once it's open to market?

[LouisSuperPower]

Korean investors are fast learners. but big portion of Korean investors put their money without good knowledge about Crypto currency. Staffs in the Bithumb office have very good at sales pitch which make grandma and grandpa put their fortunes into any crypto they suggest. I think Monero can hit $300-400 within few days. ( It's my wish but I think it's fairly reasonable with recent crypto fever in Korea)

I think the price can even go par with Bitcoin Cash because we all Koreans doesn't know other currencies but only listed currencies on Bithumb and coinone. Name of Monero associated with Money so we think Monero is actual "MONEY" in online world.

Also I have to point out that in South Korea, there is very high tax on receiving heritages from their parents. so Monero (which is non - trackable) will be perfect method to transfer wealth to their child.

[lah_0009]

When does trading start on Bithumb? The website says Sunday August 30th?

But Sunday is August 28th and Wednesday is August 30th.

[LouisSuperPower]

It will be listed on Aug 28, 00:00, Monday (Korean time) Aug 27, 11:00 pm, Sunday (New York time)

[lah_0009]

Thanks.

To reply to your original question, I see the SEC here in the US at least releasing rules for ICOs and cryptocurrencies. However, regarding rules, there are other government organizations that may also regulate cryptocurrencies. Due to this confusion of who is responsible for cryptocurrencies, I think it will take some time for the government organizations to figure things out (maybe 6-18 months, just a guess obviously).

Due to pressure from government organizations here in the US, people may be motivated to use the non-traceable coins such as monero, dash, zcash, and later ethereum once it gets zk snarks implemented.

i do strongly believe that people are greatly under-estimating the value of privacy when it comes to their financial transactions (that seems like an obvious point but while everyone is in speculation fever, they forget about this core aspect of any financial instrument).

so privacy issues and features will only become more important in the future for many reasons, including what I noted about government regulation. how quickly the speculators in the cryptocurrency world acknowledge that by putting value on these types of coins is unknown though.

[LouisSuperPower]

Thanks for your reply. I agree. also I think the key feature of crypto currency is "PRIVACY". That's why many gangs used bitcoin to trade illegal stuff in early days.

[evergrow]

LouisSuperPower my bet is on Ethereum because it will also get the privacy implementation with Metropolis and that's just around the corner. and it will also have PoS = staking.

[LouisSuperPower]

Great, I have invested many ether as well. and currently I invested on Monero because I definitely see the price surges by Koreans. It's just starting.

[glynbueso]

The koreans are buying every cryptocurrency (bitcoin, ethereum, dash, monero, etc.) because they are worry about their economy and the possible war with North Korea. That´s what I read some days ago.

[ManuBBXX]

It could pump hard this night so
200 $ ?

[sweerty1]

That is very good news. I believe Koreans will learn fast about crypto currencies and gonna create new market depth. That is very good and healthy for us as well.

[krizniq]

That is very good news. I believe Koreans will learn fast about crypto currencies and gonna create new market depth. That is very good and healthy for us as well.

u kidding right? koreans are market leaders for crypto for quite a time already

[krizniq]

It will be listed on Aug 28, 00:00, Monday (Korean time) Aug 27, 11:00 pm, Sunday (New York time)

Hi louis,
Can u confirm when it is listed and tradable? There are quite a few different times/days mentioned.... Even in "official" announcement from bithumb it's all wrong
Thanks!

edit: and this -> https://www.reddit.com/r/xmrtrader/comments/6wb7oi/apologies_xmr_trading_on_bithumb_will_probably/

[alyssa85]

But also we are some what worries about possible price down turn because some Asian countries (Korea, Japan, China, Vietnam, etc) started to develop system to impose tax on bitcoin transations. We will be able to buy Monero because it will be listed by Korean exchange Bithumb on this Monday 28. I think Koreans will understand good things about Monero very quickly because of it's hard to track transactions.

Monero has had a pump, which has increased it's price massively. See the following chart:

https://coinmarketcap.com/currencies/monero/

I do not recommend buying Monero at these prices - you would be buying at the top. Instead wait a few months for the price to drift back down again before you buy.

[TravelChain]

Hello everyone
I'm representetive of TravelChain Project and we need korean translator and moderator.
Can anyone help and advice someone ?
Contact me on telegram @aleksandra_drc
https://bitcointalk.org/index.php?topic=2363991