This is not a correction. This is partly due to Korean exchanges once again being subjected to tax authorities raiding their offices . South Korea's justice ministry said on Thursday it was preparing to ban crypto currencies trading through exchanges.
Listen. Please understand these elements. Crypto currencies CANT'T go away. I'm not sure if you've played this game, but you know the "game" where you press down one button, another one pops up. That's cryptos. If they crack down someplace, it pops up another place. Traders, start ups and investors move to where it is possible to do this in peace and quiet, away from Governments and regulations.
We have to understand that this is not a "game" per se. It's a quiet war fought out through technology rather than in the battlefields. And unlike earlier wars, this is a war between people and government - not governments forcing people from different geographical areas to shoot at each other.
Of course governments will crack down on it. Cryptos is free market, and the ultimate sharing economy. Governments don't want that to happen, because it means they lose their control. They are not ready to let people utilize blockchain just yet. The free market is happening to soon for them. Slow, backwards governments need much longer time to figure things out because of their incompetence. It's in their nature to be incompetent. They need to recruit and find people in order to figure out how to tax us properly. And that they have quite some skills at doing. And until they have found a effective way of taxing and regulating and tracing transactions, they will try to spread as much FUD as they possibly can to slow down the growth.
And the stupid people who buy into the FUD and sells are not only government bitches, they are going to lose out on a fortune.
Seriously, as many as 30% of working south koreans own a crypto currency. Do you seriously think they are all of a sudden going to stop being interested in this just because governments try to regulate it? Sure, governments can go totalitarian - and destroy their country. That's what governments eventually do. But if people object to it, by hodling, we could win.
But remember this. You can't have it both ways. Either we want freedom, which means no oppression, which means no taxation, no, or minimal government and FULL personal responsibility - or we don't. Because welfare states and big governments need one thing and that is taxpayer money. It need a shitload of it. And we've pushed the biggest bubble in history to the max - the government bubble. We are taxed twice as high as in the middle ages. And they can't afford to lose a single penny because some people invest in things that are not easily traceable.
If people don't realize this is about getting rid of governments which has been oppressing people and sending people to war and been inhibiting progress for hundreds of years, you can just give up now. You have to take a stand. Hodling is about freedom and free markets. Selling is going hunchback back to the governments begging for forgiveness. Mommy mommy..I saw freedom, and it was too scary for me.
Like I've said before, the only thing you have to do is HODL.
There are so many inexperienced people in cryptos at this point buying Cripple on top, selling with 50% profit and not having a clue about this space. We need to flush these people out, and let them buy in later again when they understand more.
Awesome post ! I think many should read these wise words; it's the right way to look at the situation.
Thanks bruh!
It's correct, the market is red, but the night is darker before the sun rises, let go (Laissez faire) ... The only one that worries me a little is SBD, due to its original nature attached to the value of the dollar.
SBD was supposed to be at 1$..and if it goes back there, we'll just have to be happy we had these past months with a huuuge premium. I took advantage of it, and I hope you did as well. It felt like a huge arbitrage opportunity. I powered down a little, and converted quite a lot of SBD earnings into Steem which I sold for other cryptos. I managed to pay back the entire Steemit investment I initially made. Now all of this is just a free joyride.
Many people view cryptos (I don't talk about you now) as free money and just mooning after mooning. It IS a new market with huge upside. That is true. But in markets, someone win and someone lose. Someone makes right decisions and someone bad. Someone sell, and someone hodl. And someone does something in between and makes even more money on that.
I strongly suggest that you always try to adapt to markets instead of worrying what will happen. Just constantly shift your tactics as the markets change.
Keep on HODLing, keep on shorting the status quo!
bleep you went deep on that one batman.
You hit their core fear, they're trying to play it cool with this one, but there is no stopping it. Once people realize what we have here, why would they want to go backwards.
no one can stop crypto
I know that. Alright what now ? What needs to be done? @scandinavianlife
Hodl.
That's all YOU have to do. It's the easiest, yet mentally, the hardest fight ever fought. Don't fall for their trickery.
Absolutely! Thank you very much for your support. Do not fall for their trickery.
Charlie Lee [LTC]
@SatoshiLite
Korea bans Bitcoin FUD is the new China bans Bitcoin FUD.
yup!
I love when a dip is caused by FUD that is known to be fake, as it means the dip will be short lived and the price will rebound back up quite quickly once people realize the "rumor" (SK Banning Crypto Trading) is found to be 100% fake.
Load with both hands my friends, load with both hands.
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Thanks for the information. This is actually a great buying opportunity.
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Thank you for exellent explanation
Right on man!
That is exactly what this is. War. But it is one we will win.
Governments and their bankster buddies are toast. Their will be a lot of death throws between now and the end but they are death throws all the same.
Freedom. It is coming. Get used to it.
Thanks for the post.
Keep Steeming!
All these dips caused by FUD show how fragile the market is. Weak hands are selling over every little piece of bad news. Exploiting this fact can make you a lot of money right now!
Great post man. Very enjoyable to read.
I think the big Ripple correction has made my week. It was quite depressing to think that it might actually be the new king.
Crypto is future and the future has arrived. Just as your mention above @scandinavianlife , money loves the peace. İf it does not like a marketplace it will just change the place. It won't disappear! A pressure on somewhere will pop up another where. No matter where it is or when, the crypto is undeniable reality of new era. And no matter how much did the price decreased now, it will increase again. Thanks for your sharing
U calling my car a shit car? :D
I guess it's a shit car in many respects. But hot damn it's fast!
I agree on the rest as well!