Korea bans Bitcoin derivatives~ OUCH!

[iram1011]

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.

Exactly, this banning of btc derivatives wouldn't have any impact on market price of bitcoin as they don't play any major role in determining the price. Korea has been a major player in cryptocurrencies for a time now. Demand will still be there whether derivatives are there or not.

But yeah the recent exchange ban if comes out to be true then it might have some impact as a major market will be shutting down the local exchanges. But right now it can be regarded as mere a rumor.

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[surix]

Banning of btc derivatives will not have a direct impact on bitcoin price, it may help though.

And this news will not have impact on bitcoin price itself neither, as nobody expect them to do so...

[beerlover]

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!

Apparently! If there mission was to see bitcoin going down or users getting scared, then they just failed abruptly. So far the news went round, I am sure they will be very surprised it had no effect on the market and I am pretty sure investors should start seeing more reasons they should start believing that this is a currency for the people and the currency itself is the people and not some government that can just decide to keep enslaving us.

But, my concern is what difference does it really make ? If they decide to ban whatever they want to ban, that will not stop bitcoin from still being used.

Bitcoin may be a speculative investment at the moment, but that does not make it real. If they fell threatened by the existence of bitcoin, then that is their own problem. If I am in Korea, I can as well just go to nearby countries to trade.

[Supercrypt]

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.

Yes, absolutely and as far as I am concerned, since the news was passed, it had no single effect on the market.
Like you have said, internet is border-less and we are talking about something that can easily be used globally here.

If that is how they want to play their game, it is their loss. This is a country sharing border with countries that the users can easily just shift base to and start using unless they are now banning their citizens from leaving the country.

[zby]

Looks like they also banned banks from dealing with Bitcoin: www.thedailystar.net/business/south-korea-bans-its-banks-dealing-bitcoin-1504681

[supermine]

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!

Apparently! If there mission was to see bitcoin going down or users getting scared, then they just failed abruptly. So far the news went round, I am sure they will be very surprised it had no effect on the market and I am pretty sure investors should start seeing more reasons they should start believing that this is a currency for the people and the currency itself is the people and not some government that can just decide to keep enslaving us.

But, my concern is what difference does it really make ? If they decide to ban whatever they want to ban, that will not stop bitcoin from still being used.

Bitcoin may be a speculative investment at the moment, but that does not make it real. If they fell threatened by the existence of bitcoin, then that is their own problem. If I am in Korea, I can as well just go to nearby countries to trade.

Yeah as you said they can not stop us from using bitcoins but they can shut down the local exchanges so it will be hard to buy bitcoins anymore he have to buy from the nearby country to buy bitcoin so he have to pay some extra fee for converting the currencies.
I think Korea ban doesn't make big difference in bitcoin market but if more countries started to ban after the Korea then it will be a real threat for bitcoin because more countries banned means demand will get less which means price of bitcoin will fall.

[el kaka22]

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?

What is so important about the role they play in the crypto investment ?
This is not the first time a country is going to come out to state their ban on crypto investments and derivatives, but that would not stop the fact that the community believes in it and they are ready to go through with it no matter what.

They can keep banning, and the crypto enthusiasts who are citizens will keep finding a way.

[Drixy]

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/

We dont know what will it cost. But there a definite meaning to this. If this is true bitcoin will have another crisis at hand. So much for not so affected they just dont know what is the exact number of users in other country specially on korea we know for sure that they have many users on bitcoin so we will probably suffer a great deal amount of it.

[Tungsten-1]

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/

We dont know what will it cost. But there a definite meaning to this. If this is true bitcoin will have another crisis at hand. So much for not so affected they just dont know what is the exact number of users in other country specially on korea we know for sure that they have many users on bitcoin so we will probably suffer a great deal amount of it.

It will be loss for the Korea they are saying good bye to the profit and business in their region bitcoin is truly economy booster coin and they will find their mistake in future and they will regret when the world will be making profit in bitcoin and they will be watching faces and bitcoin has proved in past that it is not depending on any region, they accept bitcoin their decision will be beneficial for them they ban it they will face problems.

[HAARP]

If they're not banning bitcoin, there is no problem for me because they will make the rest free in the future as the adoption and knowledge goes up eventually. This is fact for the other countries as well. China will remove the ban too.

[arpon11]

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/

By now we should all agree that bitcoin doesn't need the approval of government in other to develop and become great and for societal acceptability. Bitcoin has been doing overly well since this news about Korea ban beco come out. This is a sign that bitcoin has a different mind from governments and they banning has no effect on bitcoin pricing.

[South Park]

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.

I agree with this, bitcoin derivative are not going to necessarily bring more money to bitcoin, it will bring money to the pockets of wall street that want to bet on bitcoin without getting any, a banning of this sorts force people to own bitcoin directly.

[bitChipper]

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.

I agree with this and I also am very thankful for what these korean markets have brought to crypto. It's crazy the amount of volume and premiums they have been paying for some of these coins. I only hope that they get more coins listed on their exchanges soon....for my bags sake 

But I think its kind of like the futures that were recently introduced, didn't really have a huge effect on the price right? Just seemed to make crypto more legitimate. People appreciate the digital scarcity of the coins and just like you said its somewhat like gambling when you tie it to an instrument.

[exstasie]

I agree with this, bitcoin derivative are not going to necessarily bring more money to bitcoin, it will bring money to the pockets of wall street that want to bet on bitcoin without getting any, a banning of this sorts force people to own bitcoin directly.

It's not just Wall Street. If you have a minimum $9,000 in capital, you can access the CBOE futures markets through typical broker-dealers. TD Ameritrade (standard pleb broker) allows access to Bitcoin futures markets starting this week, for instance. That allows mainstream/middle class investors exposure through mediums that are more familiar to them.

And ETFs will be even better. That'll give people easy access to Bitcoin exposure that they can roll into their retirement accounts (401ks, etc).

But I think its kind of like the futures that were recently introduced, didn't really have a huge effect on the price right? Just seemed to make crypto more legitimate.

It makes cryptocurrency more legitimate, but in time, I think these markets will have more effect on price discovery. It all depends on where the volume goes.

If Wall Street tried to suppress the regulated markets, Main Street could still run them over. That's what happened after the CBOE launch.