Post
Topic
Board Bitcoin Discussion
Re: can't understand why Korea is in speculation
by
Baofeng
on 05/12/2023, 22:46:33 UTC
I am 19 years old Korean. I am little sad because of people's mind here. I think Korea is an advanced country and I think Korea has a higher perception of cryptocurrency than other countries. However, I think Korea is investing(I think almost speculating) more in altcoins (Dogecoin, Ripple, EOS, Quantum, Solana, etc) than Bitcoin.  Their investment is around $50,000 (average Korean adult income per year). I don't understand why they spend all their investments on trashy altcoins with the money they can get from saving a year without spending a penny. $50,000 is money that adult men have to save for over 10 years in most countries except developed countries. If Korea focuses more on bitcoin investment, I think there will be a lot of new rich people in 10 years. What do you think? Koreans don't buy bitcoin, thinking there's no difference between bitcoin and altcoins.

I can only speculate as to why the reason why South Korea is more into altcoins, perhaps it was due to the negative connotations about BTC? Or maybe the population think that altcoin is a get rich quick scheme that's why they are willing to take that risk into it. As compare to Bitcoin, wherein it's a long term investment and it's not like the magic internet money that others might have perceived, including Koreans.

However, if you are part of those majority, then so be it. Just continue with your BTC investment, nothing is going to question you with that. And if you become a crypto millionaire in the next bull run or just save enough then that is your reward for going against the norm in your country as far as crypto investments goes.