boomer55 (OP)
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January 11, 2018, 05:47:10 AM |
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http://www.businessinsider.com/cryptocurrency-market-plunges-after-reported-crypto-exchange-raid-2018-1The market for digital coins was under intense pressure Thursday morning amid reports that South Korea had a bill in the works to ban cryptocurrency trading. "South Korea's justice minister said on Thursday the ministry is preparing a bill to ban cryptocurrency trading through its exchanges," Reuters reported. That news was on the heels of a report that authorities were raiding cryptocurrency exchanges in the country. “A few officials from the National Tax Service raided our office this week,” an representative of Coinone, a South Korean crypto exchange, told Reuters. more at the link...
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Bybox
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January 11, 2018, 05:53:02 AM |
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It's funny how the English articles are all talking about outright bans when the Korean articles just say that he's trying to write a law to prevent "speculation and gambling on exchanges."
In any case, it will take some time for them to draft a law and we will see if it can even happen.
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Panteleymon
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January 11, 2018, 05:58:40 AM |
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Many countries will react differently to the cryptocurrency. All this is part of progress. Of course, there will be no unanimous decision, but most will choose a successful model. But progress is already in the fact that the level of government is spoken about the cryptocurrency.
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qiwoman2
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Oikos.cash | Decentralized Finance on Tron
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January 11, 2018, 06:00:58 AM |
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I guess the western Media loves to create more FUD about crypto and bitcoin in general to scare of newbies and make people to selloff. All the markets are in the red today and some coins like Substratum have tanked really hard. So it looks like the altcoin spring hasn't lasted very long, only a few weeks. Governments and Banks are scared they will lose control of us slaves, so they want to shoot crypto in the foot and take away people's right to create their own destiny.
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worldtraveller321
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The Quest of the Best Information to the Solution
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January 11, 2018, 06:02:46 AM |
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well it seems to be a balance all over , as in Japan is most welcoming to Crypto while others are not
what will happen if more govts did what korea is doing
it will drive crypto to the black market and drive prices up and make people more rich
there is no stopping, unless you ban the internet, your thoughts
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worldtraveller
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ViciousWarlock29
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January 11, 2018, 06:04:07 AM |
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In my my opinion it is just a FUD. We can see a lot of investors right now concerned of their money and thinking of pulling out their investment. The south korean authorities was creating a law to regulate and not to ban cryptocurrency.
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jacafbiz
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January 11, 2018, 06:06:38 AM |
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Really not surprise to see this move by Korean Government, just look at what coinmarketcap.com just did by removing the prices on Korean exchanges from the price calculations from their site because prices there is mostly at premium and this is not sustainable unless we don't want to speak the truth, it is just a check IMO
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NaissuR
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January 11, 2018, 06:08:41 AM |
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as written in the artice, it can take months or even years to do so
i dont think that it will happend.. they just want their piece of the cake :p
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cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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January 11, 2018, 06:10:07 AM |
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good fud keep it up i want btc back to 10k and below before its all back to business as usual ...
I like these news enhancements we get too..
We will crush illegal exchanges and force the legal ones to comply with the laws and regulations = we are totally banning crypto for good.
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kaya11
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SOL.BIOKRIPT.COM
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January 11, 2018, 06:14:09 AM |
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In my my opinion it is just a FUD. We can see a lot of investors right now concerned of their money and thinking of pulling out their investment. The south korean authorities was creating a law to regulate and not to ban cryptocurrency.
There is really no way of stopping it right now, these laws are popping day after day and it shook the crytpo community recently leading to it's red days. i Was happy last week when new investors popping and making most of the alts rose. And now all I see is red arrows pointing down, hope it won't last long and will be normal like just like the old good days. |
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deloreswest
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Open and Transparent Science Powered By Blockchain
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January 11, 2018, 06:22:06 AM |
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its bad news for cryptoworld. ill keep my coin cause there is a rumor about china to left the bans of ico investing. if china do left the bans i do think the market will becomes better and all coin will recover from this red.
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verdict
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January 11, 2018, 06:24:39 AM |
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its bad news for cryptoworld. ill keep my coin cause there is a rumor about china to left the bans of ico investing. if china do left the bans i do think the market will becomes better and all coin will recover from this red.
Link? I haven't seen any news of that anywhere. |
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izanagi narukami
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January 11, 2018, 06:36:32 AM |
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It's really sad to read this as we know that South Korea already legalize bitcoin officially.
If they said that they decide to ban bitcoin, it will decrease bitcoin value significantly so if you're in profit, maybe it's better to sold it for profit and start buy cheap value in the future
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dpui98
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SEELE- Blockchain 4.0
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January 11, 2018, 06:41:15 AM |
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I bought in some alt coins as most of them dip... if you are here for long term this could be a good time to buy, else take profit can wait
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SEELE Blockchain 4.0
JOIN US - http://seele.pro |
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verdict
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January 11, 2018, 06:43:59 AM |
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It's really sad to read this as we know that South Korea already legalize bitcoin officially.
If they said that they decide to ban bitcoin, it will decrease bitcoin value significantly so if you're in profit, maybe it's better to sold it for profit and start buy cheap value in the future
I would be wary. I am pretty bearish as there has been a lot of bad news as of late. |
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Schwarzenberg
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January 11, 2018, 07:09:42 AM |
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Problem with the KYC. The new rules will only allow deposits and withdrawals to traders with matching account names at their banks and cryptocurrency exchanges.
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phelbaby
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January 11, 2018, 07:49:00 AM |
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I think they are not talking about banning cryptocurrency but they are trying to pass a law to prevent speculation and gambling on exchanges and if this is done i think will reduce fake ICO,s.
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worldtraveller321
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The Quest of the Best Information to the Solution
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January 11, 2018, 08:25:58 AM |
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I thought It was somewhat interesting that in S Korea that banks there were allowing Crypto accounts
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worldtraveller
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Ric8
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January 11, 2018, 08:34:00 AM |
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Upbit should properly address the buying limit issue.
Upbit recently reduced its buying limit to 100,000K KRW but today suddenly they have change its limit to 100,000,000K KRW during the dip.
Now its back to 100,000K. Why they doing this way ??
This is very suspicious. Please take note on those sudden change. Please take note guys
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