CRYPTOCURRENCY IN NORTH KOREA

[omone1]

Hello guys, so I am just sitting here and wondering how the people of the North Korea are fairing as regards the huge benefit cryptocurrency has brought to every people. I don't  get to hear of any development from that isolated nation bordering South-Korea. I understand the will of the people is heavily subverted by their maximum leader otherwise nicknamed The little rocket man. I read of how poverty is ravaging that nation, freedom for her people to trade cryptocurrency can turn the tides around as it's doing in some poverty stricken nations that the people have embraced bitcoin and its benefit. Do these people even have access to any exchange in the world? and can they safely convert their crypto asset to their native currency and withdraw same without offending The little rocket man? I once read exchange hacking have been traced to NK, meaning some crypto activities are going on there.

I am just concerned on the freedom cryptocurrency brings could be extended to this nation.

[natefielding]

There's a man before who are lecturing about cryptocurencies but he end up dying.

[Darker45]

The said crypto activities must be highly limited to Pyongyang and probably a major city or two more. All this must also be strictly sanctioned by the government, or perhaps even directly involving the government itself.

Cryptocurrency cannot bring freedom to a place where majority of the people are too poor to even own a smart phone, where internet is limited to the government and a few powerful people perhaps, where stable electricity is not even existing, and so on and so forth.

[Latviand]

The said crypto activities must be highly limited to Pyongyang and probably a major city or two more. All this must also be strictly sanctioned by the government, or perhaps even directly involving the government itself.

Cryptocurrency cannot bring freedom to a place where majority of the people are too poor to even own a smart phone, where internet is limited to the government and a few powerful people perhaps, where stable electricity is not even existing, and so on and so forth.

We all know that North Korea is really strict when it comes to people who want to have their freedom in the governments own hand but they have nothing to do but to follow the law. I think that the cryptocurrency that's happening there is life threatening and can make you go to jail once you got caught. Maybe, the cryptocurrency in North Korea is regulated only by the authority and not with the normal citizen because they want the asset to become beneficial to the economy of the country as a whole. Plus, they can't have any access with the internet and social medias properly that's why it is very hard to live in North Korea most especially if the country prohibits you to experience a normal and free life.

[UserU]

The majority of the citizens are already deprived of their daily needs, there's no way they'll venture into Bitcoin until a change of leadership takes place. With all the censorship, I even doubt they have Internet access there, let alone knowledge on Bitcoin.

With the recent news on his health issues, it's highly likely his sister would take over. But then, we won't know if she'd follow his path or start opening up to other countries. If the latter happens, it'd be interesting to watch.

[davis196]

Hello guys, so I am just sitting here and wondering how the people of the North Korea are fairing as regards the huge benefit cryptocurrency has brought to every people. I don't  get to hear of any development from that isolated nation bordering South-Korea. I understand the will of the people is heavily subverted by their maximum leader otherwise nicknamed The little rocket man. I read of how poverty is ravaging that nation, freedom for her people to trade cryptocurrency can turn the tides around as it's doing in some poverty stricken nations that the people have embraced bitcoin and its benefit. Do these people even have access to any exchange in the world? and can they safely convert their crypto asset to their native currency and withdraw same without offending The little rocket man? I once read exchange hacking have been traced to NK, meaning some crypto activities are going on there.

I am just concerned on the freedom cryptocurrency brings could be extended to this nation.

A cryptocurrency in North Korea?!?Are you kidding me?
Only the North Korean communist and military elite have computers with access to internet.
Exchange hacking have been traced to North Korea,but that doesn't mean that there are any crypto enthusiasts in that country,only some hackers working for their totalitarian regime.
The "little rocket man" would invest more into rockets and weapons,instead of adopting blockchain technology and cryptocurrencies.

[witcher_sense]

As far as I know, the vast majority of the population of North Korea don't have access to global Internet. Internet connection is a privilege of a very narrow circle of people who have the power over others. The others have to use the internal network (Intranet), which has only websites approved by the ruling party. I doubt that they are able to use cryptocurrency, they even can't download any wallets or run a full node. Being in such conditions, there is no possibility for them to obtain financial freedom through bitcoin. But those who have opportunities to use crypto don't need freedom whatsoever.

[sunsilk]

The higher officials might have access to internet and they can freely exchange crypto. If you have heard of the news last time about Ethereum dev, they're really diving into this technology and looking towards it because they can benefit from it and they see it.

Here's that news: US Arrests Ethereum Developer for Training North Koreans to Evade Sanctions

[Maestro75]

No news from North Korea makes me happy because of the dictatorship there. Nothing is done through the will of he people. Only one man decides the fate of the rest. Even if there is support for cryptocurrency in that country today, the supreme president can withdraw that support tomorrow without anyone challenging him and the while thing is back to zero. I hate dictators.

[Yaunfitda]

North Korea? They have this group, Lazarus Group. A state sponsored cyber criminals group and they are to blame on some of the South Korea's exchange hack.

We all know that North Korea's regime wanted to control everyone and everything, so I highly doubt that individuals are given the chance to own crypto, much less having access to the internet. If there are people who have crypto, it is the government thru their hacking and used crypto to circumvent trade embargo.

[KrisAlex18]

Is it really true? Where did you get the information or the article about the thing? Can you put it here so we can read more about that so we can assure that you say it right because as far as I know, there is a massive portion of people who cannot access global internet and as we all know the internet is the most important thing in the crypto currency that is why some people consider the internet as a threat in cryptocurrency as what I have read in the other post.

As far as I know, the vast majority of the population of North Korea don't have access to global Internet. Internet connection is a privilege of a very narrow circle of people who have power over others.

Well said, I have read this thing before, I don't think why North Korea let this happen to their people, the internet is very important for every people, it our part of our daily lives.

[fiulpro]

North Korea is a place which I don't understand why still exists , the ruler should himself be hanged and the people have to start living.
The country is very unfortunate , if someone even talks about something that the government does not approve of , they are killed , mercilessly.
Cryptocurrencies ? People are not even allowed to wear makeup. The internet is something only the rich can afford , I do not think people will be able to use cryptocurrencies there considering what comes with it .
I hope in the near future we see good advancements there , peaceful where people can actually do whatever they want and not live like cattles.

[Assface16678]

The said crypto activities must be highly limited to Pyongyang and probably a major city or two more. All this must also be strictly sanctioned by the government, or perhaps even directly involving the government itself.

Cryptocurrency cannot bring freedom to a place where majority of the people are too poor to even own a smart phone, where internet is limited to the government and a few powerful people perhaps, where stable electricity is not even existing, and so on and so forth.

We all know that North Korea is really strict when it comes to people who want to have their freedom in the governments own hand but they have nothing to do but to follow the law. I think that the cryptocurrency that's happening there is life threatening and can make you go to jail once you got caught. Maybe, the cryptocurrency in North Korea is regulated only by the authority and not with the normal citizen because they want the asset to become beneficial to the economy of the country as a whole. Plus, they can't have any access with the internet and social medias properly that's why it is very hard to live in North Korea most especially if the country prohibits you to experience a normal and free life.

We all know that North Korea is one of the most strict countries for over the world and they are highly restricted all of their people in the community and some of them does not have rights enough to make changes like adopting the use of cryptocurrency before China already accepting the use of the bitcoin because they want to make changes and adaptation but I think they have the current plans about the bitcoins but in North Korea, they have prohibited the transactions between other countries methods of the process because they want to maintain their own. But still, if North Korea would like to make a change about the transaction they will make acceptance of cryptocurrency but today it takes time before they accept because they are focusing on their country first before they made a move of adaptation.

[Initscri]

There's a man before who are lecturing about cryptocurencies but he end up dying.

Well, that pretty much sums it up right there.

While it's probably possible for higher-up individuals, I highly doubt North Korean officials will let Bitcoin get into the hands of the masses, and they'll make an example of those who try.

[Wexnident]

North Korea is a place which I don't understand why still exists , the ruler should himself be hanged and the people have to start living.
The country is very unfortunate , if someone even talks about something that the government does not approve of , they are killed , mercilessly.
Cryptocurrencies ? People are not even allowed to wear makeup. The internet is something only the rich can afford , I do not think people will be able to use cryptocurrencies there considering what comes with it .
I hope in the near future we see good advancements there , peaceful where people can actually do whatever they want and not live like cattles.

Well, that's the system of how they grew tbh. Not like we could do anything there, since the government is basically nipping the possible source of problems right from the buds itself. Even if it was a small issue, as long as they could determine it goes against their rules, then they'd do it.

The country itself doesn't allow their people in accessing the global internet tbh, giving them no chance of actually trying to bypass the government systems that have been implemented. Probably only a select few even own some form of crypto, and they'd probably be hiding it itself somehow one way or another from literally everyone else. I don't even think that they have that much knowledge with regards to the development of cryptocurrency right now .

[ampere]

North Korea is a nation with very strict policies, and you must adhere to it.
If there are traces of crypto currency from there; then it shows that people conduct blockchain and crypto currency transactions in the country on a rather lowkey off record practices.

If you are in North Korea, and you cannot keep calm and trade bitcoin and crypto currency like other silent traces, then decentralization is not for you.

[Artemis3]

If North Korea is mining, its the State that's doing it. There is no way people would be able to purchase any coin with their North Korean currency.

They are not really connected to the Internet, so aside from the rare embassy high ranking official, such thing is impossible. The State officials copy the things they seem fit from the real Internet to the State isolated network, and most access to this content occurs at public State institutions anyway.

So, no. Forget it. The State has nearly absolute control over the individuals there.

[$crypto$]

The majority of the citizens are already deprived of their daily needs, there's no way they'll venture into Bitcoin until a change of leadership takes place. With all the censorship, I even doubt they have Internet access there, let alone knowledge on Bitcoin.

With the recent news on his health issues, it's highly likely his sister would take over. But then, we won't know if she'd follow his path or start opening up to other countries. If the latter happens, it'd be interesting to watch.

It will be very difficult for the people of North Korea to have access like other countries in connection with the internet. This means that it will be very difficult for them to be able to have cryptocurrency or exchange it for fiat money in their country because the assertiveness of a leader will only benefit his own country. to be respected more by other countries.

Although now in a state of crisis a main leader and there are rumors about being replaced by a sister so I think understanding will also be the same as now so it's likely to be difficult as well as other countries have freedom.

[gentlemand]

The average North Korean has zero hope of ever getting anywhere near the normal internet other than on smuggled Chinese phones. They won't have any money to buy any even if they managed that. Even the most privileged North Koreans only get government intranet access.

Crypto is likely to be solely the preserve of government hackers and the extreme elite.

[UserU]

Although now in a state of crisis a main leader and there are rumors about being replaced by a sister so I think understanding will also be the same as now so it's likely to be difficult as well as other countries have freedom.

Chances are, the sister is way more dictative than her brother once she takes over.

One look at her face and the we could already hear boss music.