If South Korea Crack Bitcoin what is the future of bitcoin

[Dreamchaser21]

If that happens, then the price of Bitcoin will only go down temporarily. And I'm sure the price will return to normal within a few days, after they make a statement to drop Bitcoin. However, it will not happen.

South Korea may ban bitcoin but they can never put it down deeper. Bitcoin is not based in south korea, this is a sad news that will last for days only but I still hope they will still changed their policy because bitcoin is really great. Bitcoin will prove it to them soon.

[Anti-Cen]

I keep watching Yobit from Russia and I watch the "Dice" game and it shows that many so called "Traders" are quite
happy to flip the dice when it's loaded 5% against them however it's hard to really know if the games
are fixed even more even if the numbers 1-100 are random because some of the players could be bots.

Bitcoin and the other alt-coins has attracted lots of slot machine players who know nothing about
finance, banking or money and don't understand software but they think they are experts at something
but god knows what.

if Bitcoin goes bang and the government says Kim from North Korea hacked the system then many
people just won't question it and then "The building just fell down"

[Anti-Cen]

If that happens, then the price of Bitcoin will only go down temporarily. And I'm sure the price will return to normal within a few days, after they make a statement to drop Bitcoin. However, it will not happen.

Forget Korea it's the transactions costs that is killing this baby, the enemy within that was always there
is a cancer and you would do well to study up on tulips because one day the price did not return to
normal but if you want something more modern then see Dot-Con bubble, they all pop you know and
the only debate is why and when

[Tenderino]

How can a country crack down bitcoin? It is an anonymous and decentralized system and the only way to crack it down is to cut the internet lines! Is South Korea planning to cut the lines? For the future of bitcoin gambling it is totally irrelevant what a country plans to do.

[Aizhen05]

If that thing happen, it will surely have a downfall effects in terms of price, sad for those holders but a rightful time for those who wanted to invest in Bitcoin, if they do that, Bitcoin price will be a little cheaper than these days but after a couple of weeks it will return to normal and will continue to grow.

it may affect the price of bitcoin yes it is so if that may happen we must to be more careful and aware for cause we cant say for what will be the exact that may happen for and also we cant say on how long does some of us may stay calm of holding bitcoin.

[jaocoincrypto18]

If South Korea crack down the bitcoin,  how about the future of the Bitcoin...positive or negative..what is the worst thing can be...

Please share the link for our all common understanding here. Do you mean South Korea government will crack down bitcoin but limited to their country only? because i believed no country can crack down using bitcoin in the whole world except if the world will unites to against bitcoin. South Korea will need diplomatic means to easily tracking bitcoin in every country which is very impossible.

[CryptoBry]

If South Korea crack down the bitcoin,  how about the future of the Bitcoin...positive or negative..what is the worst thing can be...

Don't worry that much. The South Korea government has no intention of banning Bitcoin or any cryptocurrency for that matter. They wanted to regulate the market so that investors can also be protected and that there would be more transparency. We have to understand the intention of the government in this case and exchanges have to work with the government in complying with the rules. Soon everything will be fine with this very important cryptocurrency market. Just like Japan, the government in SoKor wants order in the market and desires to weed out scammers or bad apple in victimizing others.

[BitCaptcha]

F*k South Korea.

[harrypotter1229]

I don't think South Korea will hit bitcoin easily, and Japan and South Korea see virtual currency as the next engine of economic growth.

[zhjxhtvb]

The South Korean government will continue to support the development of bitcoin in South Korea, as it was before. Some of the previous policies are also to regulate the encrypted currency. The prohibition of ICO does not indicate that South Korea does not support bitcoin.

[tanghere1]

What do you mean by "Crack" bitcoin. You mean hacked? If that's what you are trying to say don't you think that others already tried to do that? Why is it that until now no one "cracked" it?

[cpfreeplz]

They aren't cracking down. That was fud. It's just like the bullshit a few months back saying China banned bitcoin and whatever.

Korean exchanges just need to know who the hell they're dealing with. They want your real name. Woop dee doo. That is going to happen in every country.

[btcone111]

Price would probably be at least 30% lower immediately. SK exchanges constantly trade approximately $3K above international exchanges....

[Mcfee lee]

Thank you all so much ..happy new year 2018

[BHSMC]

Can anyone open a company for btc trading in South Korea as of now?

[Opuriankk]

If South Korea crack down the bitcoin,  how about the future of the Bitcoin...positive or negative..what is the worst thing can be...

China do something like that and bitcoin down few day after that price back to rise into 20,000$.

bitcoin bigger than South Korea.

[arpon11]

We will need to understand that bitcoin was not made to be friend of governments and politicians but to correct the error created by this same body. All bitcoin is bringing to the table is freedom and governments including that of the south Korea don't want us to have free. If south Korea governments ban bitcoin actually it price is going to fall because of panic sellers and rumors but the really bitcoin holds are going to hold their coins and will not sell for any FUD.  We and governments will never come into agreement on this and we have to accept this reality.

[stompix]

What do you mean by "Crack" bitcoin. You mean hacked? If that's what you are trying to say don't you think that others already tried to do that? Why is it that until now no one "cracked" it?

It comes from crackdown:

a series of severe measures to restrict undesirable or illegal people or behaviour.

As I said before is usually used when police makes raids against organized crimes or the parliament is passing laws to hinder it.

Price would probably be at least 30% lower immediately. SK exchanges constantly trade approximately $3K above international exchanges....

Fake numbers mean nothing.
China was trading 99% according to their fake numbers and here we are 13x times higher without them

[1Referee]

We and governments will never come into agreement on this and we have to accept this reality.

Actually, it's already happening. Regulations are meant to maintain control over something that in reality can't be controlled at all, and that's quite a move in the right direction. If we didn't have governments regulating crypto currencies in general, we wouldn't grow this large. People have been talking about institutions entering this market, but for that to happen regulations are a necessity. Institutions are tied to very strict rules, which basically means that without regulations there will be no institutions entering this market. If they at some point in the future decide to make Bitcoin account for at least a few percent of their portfolio, people will smash their head against the wall for not having bought at current levels.

[gentlemand]

If OP means 'crack' as in cracking down and making them follow some rules then it's already happening and rightfully so. It sounds even more unprofessional and chaotic than China was at certain points. I can't believe it was allowed to run like that for so long.

If they actually did a China and shut the exchanges there would be short term panic elsewhere but Korea is basically irrelevant as no foreign money can get in or out. It's a closed market that only plays with itself. That's why premiums are always so stupid.

In a few weeks or months things would be back to whatever direction the rest of the world wants to go in.