So I live in South Korea and if you are a trader/investor and follow cryptocurrency news you'll no doubt be aware of the booming interest in cryptos happening here. As I've mentioned already in a previous post, there's unfortunately not much educational information in Korean to help those interested, so most aren't aware of safety issues regarding crypto storage and different types of wallets. However there are quite a few exchanges here, the best known outside of Korea being Korbit.
When I initially got interested in bitcoin back in March of 2017 I purchased my first BTC from a small Korean exchange called Yapizom. Luckily I continued my education in bitcoin and cryptocurrencies and purchased a Trezor Hardware Wallet to transfer all my coin to, because the site was later hacked and millions of dollars in bitcoin was stolen. Another Korean exchange, I believe it was Bitsom (never used this site, so may be wrong), was also hacked. I don't believe Korbit has been hacked but as we all know, it's typically a matter of time. But, hopefully it doesn't happen because I don't want Koreans to be turned off of bitcoin.
What's surprising is that I'm beginning to have people come to me asking about bitcoin and BCH and how they can acquire some. This is funny, because, not too long ago, when I was praising the good word of BTC nobody seemed interested. That's when BTC was around $1,200 USD. But now I've got family, friends and acquaintances all suddenly interested in Bitcoin because the price just keeps going up. Regarding the technology of BTC or it's potential economic contributions, I doubt there are many Koreans interested, but what they are interested in is profit (to be honest, aren't we all?)
Someone said this a while back... can't remember who exactly, but it's always stuck with me and that is, by the time the mass population becomes aware of and interested in bitcoin, it will be too expensive for them to own a bitcoin. I've personally told those close to me that I expected mainstream interest and acceptance of bitcoin by the time it was trading around $10,000 and it looks like this is what could be happening.
I wish I could have discovered bitcoin much earlier, be a bitcoin millionaire, but still getting in the game in March of 2017 isn't too bad considering where bitcoin is at right now. And don't forget about BCH, i've yet to split my BTC to even claim mine, I'm just gonna kind wait and observe and see where this BCH thing is going, it's quite interesting watching it take off, to say the least. I'll admit, I never thought it would. Bitcoin on the other hand, I've always expected to go to the Moon. As it's happening though, it is hard for me to imagine BTC at $50,000 or $500,000 ... although, looking at the price now, and comparing that to when people could buy 10,000 BTC with $10, I guess it's not that unrealistic...
What do you think? Hodl?
