Quote from: avikz on February 01, 2018, 10:16:46 PM

Quote from: TimtheYoutuber on February 01, 2018, 09:16:02 PM

"Samsung to support bitcoin"

Now we are at that time that people try and pump the price. They are making chips, but not supporting bitcoin. They dont accept it, they are not donating to a bitcoin charity, they are not paying millions to educate people. Simply making a product that bitcoin users can use.

https://www.coindesk.com/samsung-confirms-its-now-making-cryptocurrency-mining-chips/

Yes, Samsung is more interested in business here. But this company is a global giant. They have a very strong lobby in South Korea as they are involved in producing military equipments as well as a strong player in electronics worldwide. So if they start producing mining hardwares, it will provide a very strong push towards the legalization of crypto currencies in South Korea which is the third largest market for cryptos.

So it is definitely a good news especially when the crypto prices are going down globally. If we see such kind of big corporations are producing crypto equipments and related technologies, it certainly provides some strong group to fight back.

I doubt they are going to be lobbying anyone. Remember that bitcoin mining is worldwide, and South Korea doesn't have cheap electricity, so the chances of mining operations being set up there is slim to none.

All that has happened is that they've seen an opportunity and have gone for it - their chips can be used in other situations, so it's win-win for them.