Korea bans Bitcoin derivatives~ OUCH!

[DustyRah]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

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[pugman]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

Holy moly!! Is this for real? Korea plays an important role in the crypto -investments
China started this,it was followed by Russia and now South Korea...Why? Just why. I knew something bad will happen due to this CME and CBOE group's bitcoin listings. Screw you CME! Is this going to be an indicator for the prices to crash anytime soon?

[European Central Bank]

Logical. Korea's insane enough without it. It's also unregulated. If they let this slip past untamed it would go 100% insane.

[sister1001]

I think it does not make a difference. Cannot Korean nationals bypass this regulation using foreing exchanges?

[Torque]

[Lieldoryn]

Bitcoin has repeatedly shown that it is not subject to any bans. Fortunately for us the Internet has no borders. So far all who have banned bitcoin received only losses. Politicians do not understand. They have the income, all is well and for them it does not matter how people live. So this is the problem people. If they allow the government to make such decisions then I do not pity them.

[1Referee]

It doesn't really matter. If institutions and other related entities will want to bank on Bitcoin, they have to buy Bitcoin directly instead of Bitcoin tied instruments that have more to do with gambling than with actual investing. I see it as something that potentially can work out in our advantage. Now all parties there basically are forced to buy and own Bitcoin, instread of buying a worthless instrument where no coins are involved in at all, which will help take even more coins out of circulation. South Korea itself is a bomb already, where they are constantly leading this market by miles, so people shouldn't be upset about this. I appreciate all the growth that this market experienced due to South Korea, and I'm sure will continue to enjoy it for plenty of more years.

[Denker]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

That's no bad news for Bitcoin I can assure you!

[Psynthax]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

That means nothing to the bitcoin right now. Even the bitcoin house already mentioned in so many times about the decision to banned the bitcoin. but it seems not work to the bitcoin and crypto communities at all. the decentralized keeps the crypto run anytime. How many countries try to ban the bitcoin and they got nothing as the result.

[charlescoin]

Derivatives aren't really such an important market especially in a single small country like South Korea. It won't stop their citizens buying bitcoin regularly on exchanges like everyone else anyway.

[Kemarit]

Short term this bans by the Korean government will have impact the price. Just look at how the price is going today, its still high but it looks like there are a lot of selling pulling the price back to ~$15,000. But long term, it will not have a significant effect as more of the bitcoin futures offering are from the West. Bitcoin will be bitcoin for the Asians, specially Koreans, they are going crazy about it, sometimes you think that if they are in their right frame of mind panic buying. They will continue to show interest in bitcoin, derivatives or not. Although its surprising to hear from them that they are going to ban it though. Let's see how this price corrections will go and how far because of this news.

[thecodebear]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

Holy moly!! Is this for real? Korea plays an important role in the crypto -investments
China started this,it was followed by Russia and now South Korea...Why? Just why. I knew something bad will happen due to this CME and CBOE group's bitcoin listings. Screw you CME! Is this going to be an indicator for the prices to crash anytime soon?

Why are you so mad??

Bitcoin derivatives aren't Bitcoin. Bitcoin doesn't need any derivatives market to continue to go to the moon. In fact Bitcoin derivatives could even have the effect of making some people who would invest in Bitcoin move to derivatives instead to make money, thus diluting the market from what it would have been. If anything I'd say this is a good thing. Bitcoin is fundamentally a currency not an investment asset (despite the obvious gains that it must achieve as user adoption increases).

[DaMut]

seems like many people still do not understand about it at all.
well for you guys try to learn it a little bit before talking about it in here :
https://en.wikipedia.org/wiki/Derivative
it is not really hard to understand to be honest,should be right ?
for now korean decision will not affect us too much because our current concern should be CME that will be list it in the future.
but of course with this news we could see the dump that happened a day ago and today,
many people thought it's exactly same like Bitcoin itself while bitcoin derivatives and bitcoin itself are completely different.
what i mean is we need to buy it directly instead buying a 'something' that basically has zero value in my opinion.
cryptocurreny is not a normal asset like others,well even though it's a bit same actually it has a differences compared to others.
lastly it has nothing to do with chinese,
because chinese completely banning Bitcoin,Bitcoin derivatives and everything aka banning cryptocurrency while korean bans Bitcoin derivatives.

[thecodebear]

And I just read that Korea is thinking of lifting the ban on ICOs, though I think they only want to allow professional developers to invest in them, basically cutting the public out of ICOs which is just the people with all the money trying to keep all the money with them instead of letting ordinary people make money. Still, this is Korea allowing more investment in cryptos, while banning derivatives doesn't stop anyone from investing in crypto, it just stops people from gambling on fake things that just track Bitcoin's price.

[sister1001]

And I just read that Korea is thinking of lifting the ban on ICOs, though I think they only want to allow professional developers to invest in them, basically cutting the public out of ICOs which is just the people with all the money trying to keep all the money with them instead of letting ordinary people make money. Still, this is Korea allowing more investment in cryptos, while banning derivatives doesn't stop anyone from investing in crypto, it just stops people from gambling on fake things that just track Bitcoin's price.

Latest news are that Corea is regulating the exchanges. Which is in a way normalization of the market. Basically preventing money laundering and taxing benefits like any other government would like to do and will eventually do.

[gentlemand]

Latest news are that Corea is regulating the exchanges. Which is in a way normalization of the market. Basically preventing money laundering and taxing benefits like any other government would like to do and will eventually do.

https://translate.google.co.uk/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fnews.naver.com%2Fmain%2Fread.nhn%3Fmode%3DLSD%26mid%3Dsec%26oid%3D366%26aid%3D0000392452%26sid1%3D001&edit-text=&act=url

That doesn't read like they're very happy about any of it, and they're certainly not for it nor do there appear to be plans on the table to regulate exchanges.

Korea's going to fuck the market up the bottom fairly soon.

[alyssa85]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

Derivatives arn't that important, especially if they are cash settled. The launch of the CBOE derivatives market had zero impact on the spot price.

[pjhom]

I don't think it will have any lasting impact on BTC.  It has proven to be resistant to most things by now.  BTC is still legal to trade, it is just the derivatives. No biggie.

[Aurel577]

I am not sure how much of a serious damage if any this does to Bitcoin's growth in terms of market capital.

https://www.coindesk.com/report-bitcoin-derivatives-banned-south-korean-government/

Derivatives arn't that important, especially if they are cash settled. The launch of the CBOE derivatives market had zero impact on the spot price.

I agree! All a cash settled future is a wagered gamble. No different than a wager placed on a ball game. It will not change the outcome of the game.

[teilwalL05]

I don't think it will have any lasting impact on BTC.  It has proven to be resistant to most things by now.  BTC is still legal to trade, it is just the derivatives. No biggie.

I agree with this and I really think that it will not do anything for the price of bitcoin and it will not surely stop the exchange in all part of the country, we are starting to see resistance in the price of bitcoin and I think that there will be a correction anytime soon and I think this news has added panic to some bitcoin users and we might see a slight dip anytime soon.