Menu IconA vertical stack of three evenly spaced horizontal lines. Since then, more than 220,000 people have signed an online petition against the proposed plan that bitcoin traders say infringes on their “happy dream” of cryptocurrency trading, something that has eluded them “until now. Buying my own home is difficult in South Korea, I don’t know how I could even buy one,” the petition says.
I don’t know how I could live doing the things that I want to do. After what some have deemed the crypto “bloodbath,” users on the South Korean online community DC Inside displayed their frustrations by posting profanity-laced stories and uploading images of broken items that they said resulted from their anger over the valuations. Though the user comments and images may be amusing for some, it underscores the implications of the South Korean government’s approach to cryptocurrencies, especially for those who have invested heavily in the market. Cryptocurrency trading in South Korea is a lucrative venture. This user said that he wouldn’t trade anymore and that he threw his laptop. After calming down, he said, he opened it to discover it was broken.