For all the highfalutin talk of how its technology will change the world, the cryptocurrency community is not unlike a large high school with cliques and drama. Sparks flew at a blockchain conference in South Korea on Tuesday when Ethereum creator Vitalik Buterin quite publicly called blockchain personality Craig Wright a fraud. Because it’s 2018, the whole thing was captured on video for public consumption. There’s a lot going on here, so let’s break it down: We’re seeing a question and answer session at an event called Deconomy, which bills itself as a global forum for developing a distributed economy. Vitalik Buterin, Ethereum’s 24-year-old wunderkind inventor, is in attendance to…
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You can't tell from this picture but South Korea's government is frowning on cryptocurrencies (source: Wikipedia)South Korea goes nuclear on cryptocurrencies
An FAQ on what just happened so people think you know what you’re talking about
Thursday was a brutal day for cryptocurrencies and many new investors were no doubt sweating bullets as they checked their trading accounts. Hopefully, this FAQ will help. What happened? South Korea’s justice minister, Park Sang-ki, said in a press conference that the government was, “basically preparing a bill to ban cryptocurrency trading through exchanges,” according to Reuters and several other media outlets. This comes after it was reported that the South Korean tax authorities and police paid a visit to the country’s largest cryptocurrency exchanges, including Coinone and Bithumb. Whoa! Why are they so much against cryptocurrencies? Two big reasons: The government is trying to crack down on crime and…