Wednesday, January 31st 2018
Full Stop: South Korea Not to Ban Cryptocurrency Trading After All
Remember the revived pressure on cryptocurrencies on account of news that South Korea might halt trading in their territory? Well, the country's finance minister, Kim Dong-yeon, who previously said that shutting down exchanges was "a live option but government ministries need to very seriously review it," came on the record this Wednesday to, let's say, set the record straight, clarifying that "There is no intention to ban or suppress cryptocurrency (market)." The minister, then, added that the government's immediate task is to "regulate exchanges". Those two statements certainly leave a lot of space in-between, since the shutting down of some exchanges while some others are left operating would not, in fact, result in an outright ban. Let's call it pruning, shall we?
The intention, it seems, is to be able to cut out the unregulated parts of the market, that take the form of unregulated exchanges, where the country's customs earlier announced it had uncovered illegal cryptocurrency foreign exchange trading worth nearly $600 million. This, it seems, is the real target for South Korea's newfound steam.
Source:
Reuters
The intention, it seems, is to be able to cut out the unregulated parts of the market, that take the form of unregulated exchanges, where the country's customs earlier announced it had uncovered illegal cryptocurrency foreign exchange trading worth nearly $600 million. This, it seems, is the real target for South Korea's newfound steam.
34 Comments on Full Stop: South Korea Not to Ban Cryptocurrency Trading After All
1) Do you know what is also negatively effecting most industries? The modern banking industry.
How many times are we going to allow these money launderers to crash the world economy? How many times are we going to let banks like HSBC fund terrorism and drug wars with no real penalties levied? How long will we let archaic banking cartels arbitrarily tell innocent people that they need to pay a 10% fee just to send money to there families across an imaginary line on a map?
2) How dare you accuse a miner of "marginalizing" gamers, when in reality that miner is punching back at "gamers" who marginalize miners! Do you not get his point?
He isn't actually saying there is anything wrong with gaming, but he is saying that gaming is no more righteous a use of computing power than being paid to help run a transaction network.
In general I am just going to ask: How stupid are some of you when it comes to realizing the scale that we as "gamers" are wasting computing power? Imagine the problems we could solve if we took the combined processing power wasted on Steam every night and instead used to it to REALLY SOLVE THE WORLD'S PROBLEMS. We aren't dealing with 50w 2D-only gaming toys anymore. Vega (for instance) has more computing power than a room-sized mini super computer had just a decade ago. To only use this immense technology on gaming IS a complete waste.
If you just want to "relax", the PS4S can play all of the games you like for 100w buddy!
Fantasy? Perhaps. Let's see.
EDIT: I actually started with the intention of making enough money to buy a new card. Also, like I said in my last post: When life gives you lemons, make lemonade.
1) A $500,000,000,000 industry is not "minor" lol
2) Nothing is stopping you from feeding your family! You can still neglect them by playing your games, but yeah sorry they might not be rendered in 4K cheaply. On the contrary there are plenty of miners who are actually feeding their families through mining. So how about you stop hurting their families by driving up computing product's prices by buying them for gaming? ;)
I hope your tomorrow is better than your today!
It's like that, but with multiple algorithims and no true "best" setting for them all.
Not sure how far this mindset goes really. I seem to be an odd duck... lol