Yeah the FUD was pretty over the top tbh, as is typical in Cryptocurrency space it seems haha. The samrt money would have been taking advantage of the situation to load up on cheap coins.
This is pretty typical for any news when it comes to media outlets... Not just for cryptocurrency, but for any topic. And true crypto enthusiasts don't shill or fud. It's usually the signature spammers that are the biggest fudders and shillers, simply because they have no idea what the fuck they're talking about.
I have lived in Korea for most of my life and we have been making news recently about the bitcoin ban. They are not banning it. They are discussing it. They are trying to figure out ways to protect the consumers and regulate the exchanges. If they ban the exchanges, bitcoin will just move underground and overseas which the government will not want. This is a country tries to protect what is theirs. For example when the iPhone launched around the world, Samsung tried to keep it out of the market for months. During that time they tried to copy it. I know because...I was part of a focus group that asked us questions about which functions on a keyless phone we liked. Many of the questions were topics they were sued for. They tried to differentiate themselves from the iphone but when we prefered many functions of the iphone, they decided to cancel it.
The government is trying to say that Crypto is like gambling which is illegal here except for some sports gambling.
Think of this as a buying opportunity.
Thanks for your insight to this matter. I'm American by nationality, but South Korean by ethnicity, and have family that are pretty involved with Samsung back in Korea. From discussing business with my family and visiting on many occasions, I would be extremely surprised if the Korean government decided to ban cryptocurrency altogether. I don't think that is the risk at the moment, but so much misinformation is being passed around by media outlets, it's not even funny. Thanks for giving us your opinion!
