also was weird, the notification came up in the right hand corner as 2011 bitcoin haha i’m like that’s when i shoullda got into it, i need a time machine.
Was it this guy?
It’s an unstable new market for something - that’s why there’s big, fast growth.
South Korea just passed legislation banning crypto. If you have currency in Kucoin exchange get it out now!
I read regulating not banning. They are checking accounts are linked to actual people and current regulations are adhered to prior to further regulatory reform.
The media reporting on crypto reminds me of the reporting on a certain saga. So much incorrect news.
Heffsgirl is right, theyre not banning trading but are bringing in strict legislation because the market in Korea is ridiculously corrupt. So many organised groups there are manipulating prices.
My wife is South Korean. Her sister spends night and day reading their forums and understands what’s happening there. If it was Australia, there’d be arrests already lol
No bans but not allowed to open any new accounts for users. If they do open accounts they will be shut down.
Potentially if the crypto currency can’t be released liquidity could become a major issue.
I also would be hesitant to look at this long term. I’d be taking profits often and trading often. The money being made is from the swings not long term value in my opinion.
In reality if you want to gamble this much there is always calls and puts on any stock exchange.
Also be aware the ATO is releasing alot of stuff about this to their staff so be prepared for a pretty major targeting event. Banks are also on board given they were helping money launderers (see commbank).
It’s fun to watch though given the real stock market stays relatively stable.
It is, isn’t it… are you in the market?
Ok after cramming some of today on all this , i think i have a gwnwral gist of things , but am wondering if im on the right track.
So figured id ask if anyone has the time or patience to answer some general questions, couls you please contact me :).
Figured instead of just bombarding this thread and annoying everyone id just ask foe help outside og this thread , as to stop annoying everyone.
For what it’s worth I’ve found it useful people posting questions and answers to build my understanding of it all on here.
A lot of monkeys lived near a village.��
One day a merchant came to the village to buy these monkeys!
He announced that he will buy the monkeys @ $100 each.
The villagers thought that this man is mad.
They thought how can somebody buy stray monkeys at $100 each?
Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey.
This news spread like wildfire and people caught monkeys and sold it to the merchant.
After a few days, the merchant announced that he will buy monkeys @ $200 each.
The lazy villagers also ran around to catch the remaining monkeys!
They sold the remaining monkeys @ $200 each.
Then the merchant announced that he will buy monkeys @ $500 each!
The villagers start to lose sleep! … They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement.
Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each!
He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.
The merchant went home.
The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.
Then the employee told them that he will sell some monkeys @ $700 each secretly.
This news spread like fire. Since the merchant buys monkey @ $1000 each, there is a $300 profit for each monkey.
The next day, villagers made a queue near the monkey cage.
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!
The villagers took care of their monkeys & waited for the merchant to return.
But nobody came! … Then they ran to the employee…
But he has already left too !
The villagers then realised that they have bought the useless stray monkeys @ $700 each and unable to sell them!
The Bitcoin will be the next monkey business
It will make a lot of people bankrupt and a few people filthy rich in this monkey business.
That’s how it will work…!!!
I like stories.
The first of many to come
I’m hoping Western Union get on board.