>South Korea’s justice minister has announced legislation is in the works to ban cryptocurrency trading after police and tax authorities reportedly raided the country’s biggest exchanges in a tax evasion probe.
>“There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Park Sang-ki told a press conference, according to the ministry’s media office.
>“Virtual currency is currently unable to function as a means of payment and it is being used for illegal purposes like money laundering, scams and fraudulent investor operations,” Choi Jong-ku, chairman of South Korea’s Financial Services Commission (FSC), said
The beginning of the end from our banker free experiment
Adrian Reyes
>Ban on trading Literally nothing will change, good job Korea.
Jonathan Myers
>banning math
Carter Reed
CRYPTOPYRAMIDS ON SUICIDE WATCH
Grayson Baker
>being used for illegal purposes like money laundering, scams and fraudulent investor operations isn't this what criptos are made for? I don't know much about or believe in any cripto currency.
Jonathan Martinez
yeah it's mostly used for buying drugs. say no to libertarians.
Samuel Ward
That's what encryption in general is made for, user.
Dominic Russell
Ban on exchanges China's going one step further and banning mining operations. Like roaches they'll flee and be a burden on another country dumb enough to allow them and weaken their electrical grids, inflate prices of electricity and computing resources and be a limiting cancer there.
The chinks aren't stupid. They let this ride out when the going was good but are now using their non-bureaucratically loaded governments to reduce risk/exposure within their country. It's 2008 activity all over again, smart camps begin reducing risk and shifting it towards the peak while dumbasses load up.
As it stands, only the west will be left hosting this fucking cancer
Adam Hall
Good. Fuck miners, and yes I HAVE crypto. kys
Christopher Miller
>a certain pattern of ones and zeros are illegal HOW
Dylan Kelly
>They let this ride out when the going was good but are now using their non-bureaucratically loaded governments to reduce risk/exposure within their country. But how are the chinks going to cash out?
Gabriel Parker
>a certain physicochemical chain reaction is illegal HOW
How is anybody? You can't cash out. You fell for a Ponzi scheme, user. Sorry to break it to you.
Alexander Carter
I can't even get a working account on an exchange
Matthew Myers
You have 4 forms of exposure : > Carrying actual coins (individual low scale exposure) > Exchanges > Mining operations (capital equipment and transitory coin holdings from proceeds) > Options/derivatives trading (avail since Dec 18)
China's banning Mining operations which reduces wasteful load on their electrical grids which are already polluting and killing them to operate. Resources get sold off, parted out, repurposed, or relocated which cuts capital equipment losses... the hardest element to liquidate in a crash scenario China, japan, and korea are banning exchanges which are the inlet/outlet for coin holders. This will naturally cause demand volume to disappear and cause and orderly liquidation from the majority of coin holders. Only dumbasses who deserve the lose their money and in small non-systemtic risk will carry coins and transact outside of the country and its jurisdiction. Options/derivatives will fall under exchange/trading ban.
So, effectively they'll induce a complete liquidation/draw down in exposure within their country shifting it to wherever the dumb fucks of the world are. This is what's known as smart money draw down before a crash leaving the idiots w/ the bag of shit once it begins to rot. The west dragging its ass to act in kind will be the bag holders. Meanwhile the chinks have been making money hand over fist as they make all of the capex equipment the dumb fucks have been buying to support this shithead venture. I applaud the chinks for having the wherewithal and structure to eliminate the fallout of this cancer long before it becomes a systematic problem. The west having done nothing so far examples whose behind this shit.. jews and spooks. I thought it was the chinks for a while but now its clear whose running this and whose signature is all over it. Seems to be some shit that was cooked up in 2008 to steer things a certain way that got put on ice and re-ignited chaotically.
>a certain pattern of energetic waves are illegal HOW
Evan Morales
Exchanges are what link to and manipulate the price swings dumbass.. Yes its a pyramid scheme. You idiots holding coins and mining are just along for the ride and have no effect on the pricing action.
Nathan Morales
>I didn't read the linked article: The Post
Luis Fisher
Don't need to in order to understand the structure of a faux market. Let me repeat brainlet, your dumbass transactions don't impact the spot price of coins. Exchanges linked to wales/market makers do. The same way it works on wallstreet
Logan Hughes
Okay dumbass, let me explain it to you: you think you're telling me somekind of news here that you just figured out yourself with your great intellect, but the article I posted already said all that, you idiot. There's nothing new in your posts.
Now stop embarrassing yourself.
Jeremiah Barnes
Serves you right for not filtering out tripfags.
Nathaniel Baker
The people who do those things on large scales still use cash.
Caleb Wilson
> Posts article > discussion occurs
Luis Cook
>mindlessly repeats talking points from an article whiling misunderstanding the mechanics of the market
Mason Foster
ZZZZz
Christopher Hall
Day of the rope is here, criminal cryptocucks.
Jack Wright
I TRIED SO HARD AND GOT SO FAR
Jaxon Foster
can't wait to upgrade my GPU to 1080ti for like 200$ when crypto scum lose their life savings and flood to ebay.
