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OmegaStarScream
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May 13, 2017, 03:30:28 PM
 #1

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.

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May 13, 2017, 03:48:58 PM
 #2

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
Well, any sort of exchange growth outside of China is a good thing to maintain the competitiveness of the market and avoid giving too much power to any one nationality when it comes to market control.
I didn't realize Korea had that much of a Bitcoin scene though, you never really hear about it but I guess it would make sense considering the country and their culture. I'm curious how many people there use it actively.
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May 13, 2017, 04:06:12 PM
 #3

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
Well, any sort of exchange growth outside of China is a good thing to maintain the competitiveness of the market and avoid giving too much power to any one nationality when it comes to market control.
Exchanges aren't concentrated in China at all, only mining has been.

It's shocking to see the Ethereum trading volume with KRW as well.  Last time I checked, it was dramatically more than USD trading volume.

I can't remember who it was, but the ideal statement was "Asians are lining our fat pockets with cash".

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May 13, 2017, 11:28:02 PM
 #4

It is really good to see more markets coming up for bitcoin and i hope there will be a bigger market from Indian as i think they are planning to legalize bitcoin and other alt coins in the near future and i am thinking what would be the impact ,will it show the same trend like we saw when Japan legalized or a luke warm response ,it is to be seen in the future.














 

 

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SingAlong
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May 14, 2017, 02:24:24 AM
 #5

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
Well, any sort of exchange growth outside of China is a good thing to maintain the competitiveness of the market and avoid giving too much power to any one nationality when it comes to market control.
I didn't realize Korea had that much of a Bitcoin scene though, you never really hear about it but I guess it would make sense considering the country and their culture. I'm curious how many people there use it actively.

I agree and this is a good thing for Bitcoin to be distributed across the world. This will secure Bitcoin from a one nationality control in the market. 2017 is far away to end and there are a lot of good new been coming out from time to tine with different countries been accepting and legalizing Bitcoin so I really hope that the Koreans would also. Though it might brought congestionin transaction andmight take a while to processbutlet's hope that Bitcoin can cope up with this increase of demand.
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May 14, 2017, 04:15:54 AM
 #6

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
Chinese exchanges out of bitcoin for some time is good for bitcoin progress.they always used to generate fake trade volumes and manipulate bitcoin price.But now Japan followed by korea have started to step up and has paved the way for end of dragon dominance.
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May 14, 2017, 04:20:25 AM
 #7

This is a big good news for all stakeholders of Bitcoin. Getting away from the unnecessary influence and control of China is a very healthy development. I am not always comfortable thinking that China has the power to control Bitcoin and its direction of growth. It is really time to spread Bitcoin and let it be de-monopolize.

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May 14, 2017, 05:37:32 AM
 #8

Honestly, the whole virtual currency aspect of it is kind of gamified especially with the kind of media coverage Bitcoin has gotten. If you really understand or love money, then you would love to learn about Bitcoin.

I think this is what attracts the Asian markets towards Bitcoin on top of its utility.

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May 14, 2017, 05:41:12 AM
 #9

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.

To throw a small wrench the ones who seem to be paying the ransom are primarily Russian users and Korean Users although that is only small change in the big scale hopefully growth in South Korea remains steady and organic especially as an alternative location to the Chinese exchanges.

Users with infected computers in Russia and South Korea are so far the two biggest ransom payers to the hackers who mounted a global ransomware attack, called “Wannacry,” yesterday, according to new data from Chainalysis, a provider of software that works with banks, law enforcement agencies, and bitcoin companies to analyze the blockchain for financial crimes.
https://qz.com/983186/global-hacking-attack-has-russia-and-korea-paying-out-bitcoin/
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May 14, 2017, 05:49:42 AM
 #10

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.

To throw a small wrench the ones who seem to be paying the ransom are primarily Russian users and Korean Users although that is only small change in the big scale hopefully growth in South Korea remains steady and organic especially as an alternative location to the Chinese exchanges.

Users with infected computers in Russia and South Korea are so far the two biggest ransom payers to the hackers who mounted a global ransomware attack, called “Wannacry,” yesterday, according to new data from Chainalysis, a provider of software that works with banks, law enforcement agencies, and bitcoin companies to analyze the blockchain for financial crimes.
https://qz.com/983186/global-hacking-attack-has-russia-and-korea-paying-out-bitcoin/

that is irrelevant.

the link itself is saying the total amount paid in ransom is $23,000 even if it were 10 times more that this it still doesn't explain the high trading volume coming from these exchanges.
Korbit shows $13,396,160 daily volume
Bithumb $40,365,885
Coinone  $14,472,240
btc-e  $24,710,147

that total amount paid is nothing compared to these numbers!

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May 14, 2017, 06:23:25 AM
 #11

South Korea is a big market for Bitcoin. People in South Korea love new technology and new ways of doings things online. This can significantly move the price of Bitcoin upward in the coming days. With Japan already on the swing, Bitcoin is getting to be popular in Asia. I prefer that Bitcoin can spread all over the world rather than be monopolized by China.

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May 14, 2017, 06:31:11 AM
 #12

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
The issue I have seen is that crypto presents opportunity for all and if one person is being sluggish about such opportunity, others  will step in and exploit that to their own advantage which is a good thing to everyone. The Chinese have their day by being in the position of determining the direction of the price by any news from their end but they blew it and now others are springing up which I am happy about that no country will have monopoly over bitcoin.
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May 14, 2017, 06:39:50 AM
 #13

i think its a good news that japan and south korea involving in bitcoin price because i think they can control chinese to not playing with bitcoin price and can prevent from any of dump or pump from others. although we all know that chinese still the most country that have biggest bitcoin, but with japan and south korea exist, i think chinese will not make any stupid movements.

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May 14, 2017, 06:47:46 AM
 #14

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.

Good find. I think South Korean's are also into bitcoin for the longest time its that the Chinese has dominating the scene last couple of years until they are caught by PBoC. And now, its Japan's turn to get the attention because they have embrace the technology. I hope South Korean's put up a lot of exchangers so that Asia (Japan,China,Korea and India) will be leader in the global bitcoin movement.
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May 14, 2017, 07:14:19 AM
 #15

This just goes to show how much cryptocurrency is starting to spread in other countries and not just China and Western countries. South Koreans and the Japs are known to embrace innovation and new things with arms wide open (e.g. South Koreans are so eager to eat in a fastfood chain called Jollibee and the reception of the first Jollibee in SoKor is very positive). Also, it allows for a much faster global adoption which isn't confined to the Western countries and China anymore.

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May 14, 2017, 07:21:31 AM
 #16

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
I think koreans are new but bitcoin was listed by Japanese exchanges quite sometime ago and yes volume on this new south korean exchanges look impressive. Chinese have monopoly on bitcoin mining along with trading volume and yes this monopoly should be broken to limit price manipulation.

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May 14, 2017, 07:41:47 AM
 #17

I didn't notice until now (either that or the exchanges are indeed new) that we have south Korean exchanges and they have huge trading volumes.

[1] https://coinmarketcap.com/exchanges/korbit/
[2] https://coinmarketcap.com/exchanges/coinone/
[3] https://coinmarketcap.com/exchanges/bithumb/

I believe that Chinese exchanges stopping withdrawal for a period of time is somehow good for bitcoin. It allowed to other exchanges to step up (Japanese and Koreans) and not giving monopoly to Chinese.
This is great because bitcoin is getting so much attention and also adoption from the different asian countries and south korea is one of the latest country that adopted and established exchanger for bitcoin. If this attention will be maintained for bitcoin then  there is no impossible thing and bitcoin can be fully implemented in asian countries before 2020.

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May 14, 2017, 06:44:18 PM
 #18

I was also amazed to see huge trading volume on this korean exchange platform but it is good sign that bitcoin is growing across the globe. Even in third world countries like African countries, demand for bitcoin is growing.


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May 14, 2017, 07:06:53 PM
 #19

I believe the asian countries always supported Bitcoin and not only now... What happens is that the chinese exchanges were being used, so we had the impression who was using that were chineses, but not, many other around countries were using it as well.

Asian countries are famous for their relationship with technology and it wouldn't be different with Bitcoins. They are old adopters and had a good advantage compared to another countries people that just adopted Bitcoin later.

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Bountie- Do You Have Game?


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May 14, 2017, 07:28:10 PM
 #20

I've seen South Korean​ exchanges back to few months ago and they had reached more than $2000. I don't take it so serious at that time and just think probably they have highest exchange rate. I don't know how bitcoiners in there could achieve such trading volume or what they are doing, how much adapters, merchants or companies accept bitcoin transaction, but it is a great deal which caused bitcoin price increases and worth slightly more as time goes on.

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