Quote from: timerland on January 20, 2018, 03:42:56 AM

Quote from: hugeblack on January 11, 2018, 11:21:01 AM

There are great concerns regarding virtual currencies and [the] justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges, justice minister Park Sang-ki said.[1]
News of the ban follows the raiding of local cryptocurrency exchanges by police and tax authorities over alleged tax evasion, as one of the key nations driving the demand for bitcoin and other virtual currencies attempts a clampdown.[2]

The value of bitcoin plunged 13.5% in the early hours of Thursday after news hit that South Korea is planning to ban cryptocurrency trading.[3]

Do you think the price will lose more?

Source of news : https://www.theguardian.com/technology/2018/jan/11/bitcoin-drops-value-south-korea-trading-ban-cryptocurrencies-tax-gambling

China, Indonesia, and South Korea has all came out with new negatives for bitcoin, and a lot of people are worried about the future of bitcoin in those countries. The truth is do you really think that these regulations are going to have such a grave impact on bitcoin at all? At worst, it'll shut down all exchanges, but not a single country will be able to shut down bitcoin itself.

Obviously this news has had a big impact on price, and as a result price has essentially plumetted. Though i believe that people are overreacting to this series of news at the moment, and a wave of buyers will buy up the cheap bitcoins soon.

Yep, the impact is arguably a negative one, but what should we have expected really? These exchanges are an abomination to the decentralized world of crypto. The sooner we get rid of them the better. The governments have found crypto's weakspot, its Achilles heel, and now they will stick into it with full force until it dies in agony. Full-fledged decentralized exchanges have now become a vital necessity, a must-have, without which crypto may not be able to survive.