penig
Member
 Offline
Activity: 266
Merit: 13
|
 |
January 11, 2018, 02:03:21 PM |
|
I thought this one was the reason why btc fall because it turned out to be fake news. Any idea why btc fall then?
Because of this news. It's not strictly "fake", just misreported, and in any case a story doesn't have to be true to cause a sell off. When you have no fundamentals and only technical analysis and sentiment to guide trading, any rumor or news has a substantial impact. |
|
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
thecodebear
|
|
January 11, 2018, 02:08:11 PM |
|
Appears it was fake news. One guy in government said Korea will ban trading, but then clarifications seemingly came out that said they are just going after exchanges that aren't complying to their regulations or paying all the taxes. Not a ban at all, Korea is just making crypto trading regulated and enforcing those new laws.
The ban FUD will be around for a few days and then we should see a pump back up a couple thousand dollars when the fake news gets put to bed. Of course it doesn't help that tons of outlets ran with the story from a single person saying a ban is coming. But price should be back up in a few days.
|
|
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
|
January 11, 2018, 02:13:35 PM |
|
|
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 11, 2018, 02:23:06 PM |
|
Damn it is not a fake news huh? damn it.. what's happening..  |
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 11, 2018, 02:30:13 PM |
|
Appears it was fake news. One guy in government said Korea will ban trading, but then clarifications seemingly came out that said they are just going after exchanges that aren't complying to their regulations or paying all the taxes. Not a ban at all, Korea is just making crypto trading regulated and enforcing those new laws.
The ban FUD will be around for a few days and then we should see a pump back up a couple thousand dollars when the fake news gets put to bed. Of course it doesn't help that tons of outlets ran with the story from a single person saying a ban is coming. But price should be back up in a few days.
If it is not a ban on Crypto trading thats fine. But that's how news spread everywhere on reputed medias. No wonder why BTC going down with this situation. Hope for the best. Crypto hurts many people who control the world right now. I know they want to stop this if the crypto became a threat for them. |
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 11, 2018, 02:31:41 PM |
|
Correction again. That's not a fake news , its on all news channels..
|
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
|
January 11, 2018, 02:36:22 PM |
|
Here’s a picture of the Bithumb exchange after the raid:  Here’s the same exchange before the raid:  LOL |
|
|
|
xiaowu55
Newbie
Offline
Activity: 84
Merit: 0
|
|
January 11, 2018, 02:42:05 PM |
|
Right from the start I think this is a false news, later confirmed my guess is correct, it is a false news, it is to do so in order to help some people to obtain higher profits
|
|
|
|
|
|
Jaya912
|
|
January 11, 2018, 02:56:59 PM |
|
from what i heard they are still discussing that option, and it's not the first or the last time a country try to ban crypto.
bitcoin and altcoins are designed to be out of goverments hands and that's what I like about it.
why do you something that out from government hand? i think you dont want to pay tax or you hate with your government. however, in corrupt government like my country, sometime i also like to be out from my government but not always. |
|
|
|
|
sirkings0003
Member
Offline
Activity: 252
Merit: 10
Telegram: https://t.me/ViolaAI
|
|
January 11, 2018, 03:01:53 PM |
|
This is absurd and discouraging. I was told that south Korea is one of the strong hold of cryptocurrency to the extent that it is accepted at different sale areas. I am sure this will lead to panic sale.
|
|
|
|
cybersofts
Copper Member
Sr. Member
Offline
Activity: 658
Merit: 284
|
|
January 11, 2018, 03:24:00 PM |
|
|
|
|
|
|
thebigkendo
Newbie
Offline
Activity: 4
Merit: 0
|
|
January 11, 2018, 03:35:08 PM |
|
Its just news to cause FUD , so whales can buy btc cheap and become richer. Market will shake it off in some days
|
|
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 11, 2018, 03:37:45 PM |
|
|
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 11, 2018, 03:39:35 PM |
|
Here’s a picture of the Bithumb exchange after the raid: Here’s the same exchange before the raid: LOL Apparently no big difference.  |
|
|
|
busua
Member
Offline
Activity: 129
Merit: 12
|
|
January 17, 2018, 07:22:30 AM |
|
This news is false, is not true. I have a friend from South Korea, he said that this is a reason for the impact of bitcoin prices, but the information is fictional.
|
|
|
|
|
AlexW333
Member
Offline
Activity: 924
Merit: 18
|
|
January 17, 2018, 07:26:11 AM |
|
Its a fake news
Like always
|
|
|
|
|
|
pat4cryptoreal
|
|
January 17, 2018, 07:30:30 AM |
|
This news of banning bitcoin will only make the price of bitcoin to fall for a while, just watch and see what will happen to the price of bitcoin in the next two mouths.
|
|
|
|
|
blueteam09
Full Member
Offline
Activity: 664
Merit: 100
📱 CARTESI 📱 INFRASTRUCTURE FOR SCA
|
|
January 17, 2018, 07:31:25 AM |
|
Hey I feel horrible about this news, Meanwhile Warren Buffet said BTC will come to a bad ending. hey you senior guys, What do you think about the current situation which appear for Crypto and BTC ?
I will published here the content of the article in the web. looks like I am not allowed to publish weblink here..
Bitcoin falls as one of the world's biggest cryptocurrency markets readies a bill to ban trading
South Korea's justice minister said that the country is preparing a bill that will ban all cryptocurrency trading
Park Sang-ki told reporters that there are "great concerns" regarding virtual currencies
Bitcoin tumbled more than 12 percent following Park's remarks
South Korea's justice minister said on Thursday that a bill is being prepared to ban all cryptocurrency trading in the country.
That news is a major development for the cryptocurrency space, as South Korea is one of the biggest markets for major coins like bitcoin and ethereum.
According to industry website CryptoCompare, more than 10 percent of ethereum is traded against the South Korean won — the second largest concentration in terms of fiat currencies behind the dollar. Meanwhile, 5 percent of all bitcoin are traded against the won.
"There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park Sang-ki said at a press conference, according to the ministry's press office.
Bitcoin tumbled more than 12 percent following Park's remarks, according to CoinDesk's bitcoin price index that tracks prices from four exchanges. At 1:26 p.m. HK/SIN, the cryptocurrency price retraced some of its losses to trade at $13,547.7.
Park added that he couldn't disclose more specific details about proposed shutdown of cryptocurrency trading exchanges in the country, adding that various government agencies would work together to implement several measures.
Reuters further reported that a press official said the proposed ban on cryptocurrency trading was announced after "enough discussion" with other government agencies including the nation's finance ministry and financial regulators.
The news wire later added that once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months — or even years.
Cryptocurrency trading in South Korea is very speculative and similar to gambling. Major cryptocurrencies like bitcoin and ethereum are priced significantly higher in the country's exchanges than elsewhere in the world. For example, bitcoin traded at $17,169.65 per token at local exchange Bithumb, which was a 31 percent premium to the CoinDesk average price.
That difference in price is called a "kimchi premium" by many traders.
In fact, earlier this week, industry data provider CoinMarketCap tweeted that it would exclude some South Korean exchanges in price calculations due to the "extreme divergence in prices from the rest of the world" and for "limited arbitrage opportunity." The exchanges that were removed from the price calculation included Bithumb, Korbit and Coinone.
Last month, the South Korean Financial Services Commission said it was prohibiting cryptocurrency exchanges from issuing new trading accounts. If an exchange does allow new accounts, the government has the ability to take action to either stop trading or shut the exchange down, the commission said in a statement.
The commission added that, since much of the cryptocurrency trading was being done anonymously, users must use their real names.
The government also indicated it would closely monitor banks and would "swiftly" step in to limit fund flows into cryptocurrencies if necessary.
Bitcoin exposed stocks in South Korea took a major hit after the announcement. Shares of Omnitel, which has a bitcoin remittance business, crashed 30 percent, Vidente shares tumbled 29.96 percent, Digital Optics fell 13.7 percent and KPM Tech was down 5.48 percent.
That news from the justice minister comes after the country's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation told Reuters.
—CNBC's Chery Kang, Evelyn Cheng and Reuters contributed to this report.
I also read many articles in online blogs. There is a lot of information regarding China and Korea on many policies to squeeze the crypto market in their country. This is having a lot of impact on the market as everyone in China and Korea is trying to sell the Altcoin they own. |
|
|
|
anushkasachith888 (OP)
Member
Offline
Activity: 532
Merit: 12
|
|
January 17, 2018, 02:13:51 PM |
|
Hey I feel horrible about this news, Meanwhile Warren Buffet said BTC will come to a bad ending. hey you senior guys, What do you think about the current situation which appear for Crypto and BTC ?
I will published here the content of the article in the web. looks like I am not allowed to publish weblink here..
Bitcoin falls as one of the world's biggest cryptocurrency markets readies a bill to ban trading
South Korea's justice minister said that the country is preparing a bill that will ban all cryptocurrency trading
Park Sang-ki told reporters that there are "great concerns" regarding virtual currencies
Bitcoin tumbled more than 12 percent following Park's remarks
South Korea's justice minister said on Thursday that a bill is being prepared to ban all cryptocurrency trading in the country.
That news is a major development for the cryptocurrency space, as South Korea is one of the biggest markets for major coins like bitcoin and ethereum.
According to industry website CryptoCompare, more than 10 percent of ethereum is traded against the South Korean won — the second largest concentration in terms of fiat currencies behind the dollar. Meanwhile, 5 percent of all bitcoin are traded against the won.
"There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park Sang-ki said at a press conference, according to the ministry's press office.
Bitcoin tumbled more than 12 percent following Park's remarks, according to CoinDesk's bitcoin price index that tracks prices from four exchanges. At 1:26 p.m. HK/SIN, the cryptocurrency price retraced some of its losses to trade at $13,547.7.
Park added that he couldn't disclose more specific details about proposed shutdown of cryptocurrency trading exchanges in the country, adding that various government agencies would work together to implement several measures.
Reuters further reported that a press official said the proposed ban on cryptocurrency trading was announced after "enough discussion" with other government agencies including the nation's finance ministry and financial regulators.
The news wire later added that once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months — or even years.
Cryptocurrency trading in South Korea is very speculative and similar to gambling. Major cryptocurrencies like bitcoin and ethereum are priced significantly higher in the country's exchanges than elsewhere in the world. For example, bitcoin traded at $17,169.65 per token at local exchange Bithumb, which was a 31 percent premium to the CoinDesk average price.
That difference in price is called a "kimchi premium" by many traders.
In fact, earlier this week, industry data provider CoinMarketCap tweeted that it would exclude some South Korean exchanges in price calculations due to the "extreme divergence in prices from the rest of the world" and for "limited arbitrage opportunity." The exchanges that were removed from the price calculation included Bithumb, Korbit and Coinone.
Last month, the South Korean Financial Services Commission said it was prohibiting cryptocurrency exchanges from issuing new trading accounts. If an exchange does allow new accounts, the government has the ability to take action to either stop trading or shut the exchange down, the commission said in a statement.
The commission added that, since much of the cryptocurrency trading was being done anonymously, users must use their real names.
The government also indicated it would closely monitor banks and would "swiftly" step in to limit fund flows into cryptocurrencies if necessary.
Bitcoin exposed stocks in South Korea took a major hit after the announcement. Shares of Omnitel, which has a bitcoin remittance business, crashed 30 percent, Vidente shares tumbled 29.96 percent, Digital Optics fell 13.7 percent and KPM Tech was down 5.48 percent.
That news from the justice minister comes after the country's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation told Reuters.
—CNBC's Chery Kang, Evelyn Cheng and Reuters contributed to this report.
I also read many articles in online blogs. There is a lot of information regarding China and Korea on many policies to squeeze the crypto market in their country. This is having a lot of impact on the market as everyone in China and Korea is trying to sell the Altcoin they own. Why don't you publish them here so that even others can go through them, any one can write anything. we have to check are they reliable sources to consider, |
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
|
January 17, 2018, 08:19:39 PM |
|
It’s not really that weird. I’m surprised it’s taken this long. You know the US government just took down BTCe in scamcashistan or wherever. The US gov starts looking at the books and realize how prolific money laundering is in bitcoinland. They contact their G20 buddies and let them know that they may need to take down a couple of exchanges in their country too. I think it’s a little too coincidental that all of the countries considering closing exchanges lately are G20 members.
|
|
|
|
|
