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The Rating of South Korean President Declines Because of Inefficient Cryptocurrency Regulation

President Moon Jae-in of South Korea
AP: President Moon Jae-in of South Korea
Latest polls indicate that the approval rating of President Moon Jae-in of South Korea has dramatically reduced amidst the conflict regarding the likely closure of cryptocurrency exchanges in the country.

Local media outlets indicate that 59% of respondents stated that concerning managing government matters, the president’s work was exemplary. It was an 80% drop from when he was initially chosen as the South Korean president.

Reducing Fame


The decline is maybe due to the disagreement about a government plan to regulate (or entirely prohibit cryptocurrencies after Park Sang-ki, the Justice Minister implied that local exchanges would be shut down completely. The Justice Minister’s remarks led to confusion and were due to the reduction of cryptocurrencies price, in some instances by 20%.

Only some hours following the declaration and after very many people hurried to the state’s website to sign appeals rejecting a possible shutdown, the Blue House (the presidential office) explained that the country had not yet come to a final conclusion.

It declared that Park Sang-ki made this declaration without the permission of the Ministry of Strategy and Justice as well as other state agencies concerned with the task force for cryptocurrency regulation in South Korea. 

Also, the presidential office insisted that it does not consent or back the Ministry of Justice’s decision to prohibit cryptocurrency trading. 60,000 and more citizens voted in an appeal to sack Park Sang-ki after the rash and contradictory reports.

Regulatory Plan


This likely step toward regulation was highlighted more in a report from the cryptocurrency task force in South Korea who stated that the government would adhere to the regulatory plan presented by other vital states working in the sector like the U.S. and Japan.

Therefore, even though at the moment we cannot be sure, it is very doubtful even in future, that a trading ban on cryptocurrency will be implemented. It is monumental news for the world of crypto since according to reports, South Koreans numbering three million might have made investments in cryptocurrencies. The local market is considered to make up for almost ¼ of the world market regarding transactions.

Monero 2018 Analysis - The Anonymous Cryptocurrency

Monero in 2018

Monero is a more private and anonymous cryptocurrency than Bitcoin and it has been around since 2014. Almost everyone knows about Bitcoin and how this is a virtual currency with a use that is similar to that of cash but we cannot see it or touch it. It is decentralized, which means that there is no regulation for it and it can’t be cloned and faked. In addition to this, has long been the favorite payment method of the Dark Web and will become ever more popular this year during 2018. Many of the top black markets underground have been using crptocurrency for their business.

Now things have changed and bitcoins are not anonymous enough for some criminals to feel comfortable with them. Even when the overall use of Bitcoin is quite goods for this purpose, it’s traceable to the place and the person who obtained or paid with the coin. 

Now they have found a perfect replacement in a cryptocurrency called Monero because of the anonymity factor that they provide.

What is it and how does it work?


The first thing that calls the attention on Monero is that it is based on a protocol called CryptoNote that appeared back in 2012. This is just one of many other coins out there, but it comes with a very special added advantage to it and that is anonymity. 

It is true that this new anonymous currency shares similarities with Bitcoin, but it has the difference of allowing users to maintain total anonymity and this makes them perfect for anyone who is looking to be as untraceable as possible. 

Bitcoins use a single virtual wallet and all transactions linked to the same wallet and can be observed by anyone. Monero creates unique addresses for each transaction, and only the person receiving it can see it. Monero also mixes currencies automatically. It does this by combining the data in a transaction with any that have a similar size. This only adds yet another layer of confusion for anyone who tries to track down an operation using the block chain.

Monero could be promising more than it can deliver as there is no way that a cryptocurrency could remain completely anonymous without some serious regulations coming for it. The number of illegal transactions that could start to take place because of this would be astronomical. The idea is for this to be created for the purpose of helping people who want to remain anonymous about certain legal purchases that could be embarrassing to them, but obviously criminals will capitalize on such an advantage and use it for bad things.

The best thing to do at a certain point is to ensure that everyone is able to get the best possible results from using this kind of coin in 2018, but the truth is that it might not end up gaining enough attention due to the shady uses that people are giving to it when they acquire this coin. This is probably the main reason why it might never have the kind of value that people would find optimal for their needs.

PlexCorps Initial Coin Offering Scam

PlexCorps

The relevant authorities monitoring these cryptocurrency entities in the United States of America announced the acquisition of an order to freeze assets that would be used to help PlexCorps. The order was issued after the SEC started to take legal matters against the company for activities that turned out to be scam related.

The scam come in the form of offering people the chance to earn 13 times the amount that they are going to be investing and this is exactly the kind of scam process that is being used by these fraudulent companies. The Commission had introduced the petition in the federal court of Brooklyn and they mentioned that executives of Plexcorps promised investors that the value of the PlexCoin would increase its value a 1,354% in less than one month. This sounded wonderful to the many people that decided to invest. 

The complaint further explains that the individuals involved also violated the anti-fraud provisions that had been set by the federal law in the US. The Commission is actively seeking permanent sanctions to any company that is conducting this kind of scam and they demand the return of the invested money with interest. In addition, they want to ban those who are involved from ever being allowed to start this kind of business again. 

This is not the first time that we see this kind fo thing happening, but the important thing is to remind people in general of the many dangers that come from the use of this kind of platforms. There are tons of people who are getting involved in these markets and the opportunity to scam a portion of that audience is very tempting for criminals and people with no moral values. 

This is one of those cases that has all the characteristics of a complete computer fraud and they will be making sure to act as quickly as possible in order to make sure that people can avoid this issue as quickly as possible.

Although Plexcorps wanted to announce the release of the coin as a viable investment, the scandals behind the platform have caused the price of the coin to go to minimal amounts that make it completely worthless in the exchange markets and this is not the kind of thing that will prove viable to anyone

Plexcoin has already been targeted by authorities because of its potential to distort things with the ICO. This means that this is a coin that was built for scam purposes from the ground up, but it was shut down quick enough so that the number of victims wasn’t as high as it could have been.

This can be a perfect case for people to be cautious about the kind of platforms that they use and the kind of cryptocurrencies that they decide to invest on. There are many reasons why this is a great example of what you want to be able to avoid when you are looking to invest in the market.

Israeli Blockchain Firm Sirin Labs

With so many new cryptocurrencies coming out, it makes sense that those who know how to promote their coins are going to be using the most influential names possible. When a digital firm gets the support of a celebrity, there is much more appeal to it because people consider it to be a safe investment. 

Israeli Blockchain Firm Sirin Labs
Moshe Hogeg, co-founder and president of British-Israeli start-up, Sirin Labs AG
Sirin Labs, has headquarters in Switzerland and they also operate in London and Tel Aviv. This particular firm was founded in 2013 by Israelis who are known all over the digital world known for founding the venture capital firm Singulariteam and Mobli. They have managed to accomplish a lot of great things in the past few years.

They made international headlines last year for their development of very useful technology and their most recent, the FINNEY Smartphone is meant to be used as a friendlier way to create synergy with crypto wallets and a powerful operating system. All in the purpose of making the process easier for companies looking to get results. 

The operating system will support applications related to encryption, and being able to help cryptocurrencies turn into an easier and more manageable thing to deal with. These are all great things in their favor, but their greatest accomplishment has been to get the support of one of the most iconic sports figures in modern times. We are talking about no other than Leonel messi, the football superstar. 

When you are promoted by someone who is famous all over the world both online and offline, you gain a competitive edge that is very hard to match. Having a familiar and loved face like that of Messi saying that they believe in your products is nothing short of a marketing dream for anyone who conducts business at any level.

There is a lot that we can expect to see from this blockchain firm in the coming years. The most important thing is that they are creating a whole new world of possibilities now that other influential figures can see big names like Leonel messi are interested in promoting ventures that are related to the cryptocurrency phenomenon.

Messi was the perfect choice due to his ability to take his message to a much wider audience. This makes him a perfect spokesman for their firm and it will also be quite beneficial for the cryptocurrency world in general. The more influential people get onboard, the higher the chances that we are going to see a huge explosion in the world of cryptocurrency. 

Marketing is an essential part of globalization for any innovative idea and this seems to be the beginning of a truly outstanding marketing campaign that is going to take cryptocurrencies to a whole new level in terms of mainstream exposure. There is much we have yet to discover in terms of cryptocurrencies, but we can be sure that a large a number of positive changes are coming in 2018 and this is just the beginning of the cryptocurrency revolution all over the planet.

The Latest Bitcoin Price: The Value of Cryptocurrency Decreases Following Declaration of New Regulation by South Korea


Bitcoin is hugely unpredictable and has survived a chaotic year, shifting from below $1,000 in early January 2017 to $19,000 and more at the beginning of this month.

On Thursday, the bitcoin value reduced by two percentage numbers following the statement by the government of South Korea that it intends to implement new steps to control cryptocurrency trading speculation.

In London, mid-morning bitcoin was trading about $14,000 (£10,400) per piece, said some trading platform, after going beyond $16,400 when the week began.

“Several times, the government had issued a warning that virtual coins cannot operate as a real currency and could trigger massive losses because of too much instability.” According to Reuters, the South Korean government issued this statement. 

Many financial professionals have been advising prospective retail investors to avoid dealing with bitcoin. But others are making guesses that the currency will continue increasing in future months, attracting other cryptocurrencies like litecoin and ethereum.

Just before Xmas, three bitcoin exchanges were compelled to stop trading in the asset following its drop by 40% and more in value. Coinbase, one exchange like this stated at that period that purchasing and selling had been deactivated because of technical issues triggered by high traffic.

Bitcoin differs from global currencies since it is not under central bank regulation. It means that a bunch of sell-offs cannot be stopped or controlled easily.

Best Features of Bitcoin Gold (BTG)

Bitcoin Gold referred to as Bgold or BTG came to use from November 12th, 2017. After Bitcoin cash, another fork of Bitcoin is the BTG. Bcash aimed to offer a solution with regards to the scalability of Bitcoin block size. BTG primarily focus on countering the Bitcoin’s withdrawal centralization.


Bitcoin Vs. Bitcoin Gold


The new coin works on the proof-of-work mining algorithm. Unlike Bitcoin uses SHA256, BTG makes use of the proof-of-work algo with memory-hard Equihash. Zcash uses the same algorithm and is considered to have a protocol to take care of the privacy of the transaction details. Bgold cannot be mined using the ASIC hardware. This feature is similar to that of the Bitcoin cash.

Insights about Bitcoin Gold


Bgold’s official occurrence happened on 25th Oct and people who have BTC then quickly exchanged to Bgold and with the additional features offered by the BTC. The private keys could now be imported promptly to a Bgold wallet in a dedicated manner. 

The Bgold block 491407 which is on the Bgold blockchain is the first block, and that will deviate from the actual protocol used in Bitcoin. To understand better, you must know that the first block that got spilt into Bgold was the block 491407 and became independent of BTC. 

It is also told that the 8000 blocks, in the beginning, will be mined by Bgold team and this will not be open to the public. It will be private. After extracting the 8000 blocks, the challenges in mining BTG will ramp up thus letting it open to be extracted by all the users. The remaining 100,000 BTG blocks will be used to mobilize fund for the development of project and much more. 

Thus, the plan is to use first blocks within internally and later to open for public and make money for future development.

Changes From Bitcoin in Bitcoin Gold?


There were few changes incorporated in BTG to differentiate from BTC and also to enhance the features in a better manner. The primary focus is to restrict the ASIC hardware and the next on the centralization. 

DigiShield - It is an algorithm, and it works towards adjusting the mining difficulty upon identifying the block every time. Unlike BTC does it once in 2 weeks.

BTG offers strong replay protection and makes sure that none of the users spends BTC at the time of spending BTG. This is also applicable for BTC users. 

The new address plan implemented by BGold will prevent consumers from spending on BTG to BTC and in reverse. 

Summary


BTG has got great support, and several exchanges favor it namely the HitBTC, Okex, and the Bitfinex. These players support both BTG and BTC. It is expected that Bitcoin Gold will get closer to the exchanges and will get an excellent rating from the users. In a nutshell, BTG is scheduled to stand one among the top five altcoins. It is good to migrate to BTG and all BTC users can shift without losing any currency and above all can get upgraded.

XM.com - XM Cryptocurrency Broker Review (XEMarkets)

XEMarkets, more commonly known as XM, is a professional Cryptocurrency broker established in 2009 and founded by a group of interbank Forex dealers who wanted to improve the level of quality and transparency within the trading community.

xm.com Crypto spreads
xm.com Crypto spreads

XM's headquarters are located in the Republic of Cyprus, where they are subject to regulatory oversight by CySEC. They are also registered with Germany's BaFin and the UK's FSA.

By trading with XEMarkets, you know you're dealing with a professional Cryptocurrency broker who holds high standards in regards to the safety of their clients funds and personal information.

In this quick broker review of XEMarkets we'll look at what makes this Cryptocurrency broker a magnet for European traders

Platform


XEMarkets offers varying versions of the commonly used Metatrader 4 platform. From a downloadable install to web-trading and even apps for Android, iPhones and iPads, XM offers several different charting solutions.

Design


The design of XM's website interface is inviting and has an organized layout. Apart from the access to trading assets, charts and configuration areas, XEMarket's also has an All News area that contains trending economic updates, reports and analysis of the financial markets. Traders who use fundamental analysis to form trade ideas will find this useful. XM's website has little to no lag or delays, and gives traders the option to decide between a dark or light theme.

Trading with XEMarket's


Traders can get set up with a live XM account with as little as $5. This is arguable the lowest required minimum deposit in the Cryptocurrency trading industry. With that type of financial flexibility, I had no problem with opening a new account and making an initial deposit to get familiar with the platform and its advantages.

As far as the trading instruments XM offers, this international Cryptocurrency broker carries more than 100 different tradable assets. This includes Cryptocurrency, Forex, CFD's, indices, energies and metals. XM's instruments have diversity, which is great for traders who want the highest possible opportunities to find profitable trades.

XM's super tight trading spreads made me want to trade with them even more. Sitting at an average spread of 1.7 pips, they never charge any additional commissions! And with a maximum of 1:888 leverage, trading with XM should be a no-brainer.

XEMarket's continues to be one of my most frequently used brokers to date – highly recommended.