30 Dec '17, 3am

A Stunning Look Inside The World Of South Korea's "Bitcoin Zombies"

A Stunning Look Inside The World Of South Korea's "Bitcoin Zombies"

When it comes to investing in bitcoin and other cryptocurrencies, while Japan's "Mr Watanabe " retail investors may be the marginal traders "propping up the bitcoin market" , no nation has as much of its population invested - literally and metaphorically - in cryptos. In fact, according to a recent study , more than 3 in 10 salaried workers in South Korea have invested in one or more cryptos. And the sole reason why bitcoin remains an unprecedented investment craze even as hackers have stolen millions, lawmakers are pushing for new taxes and regulations, and leading financial officials have called it a “Ponzi scheme" is that - so far at least - it has been the best investment for virtually anyone who has bought it: the S.Korean survey (which polled 941 people via email from Dec. 19 to 20, with about 80% of respondents in their 20s and 30s) revealed that of those who invest...

Full article: https://www.zerohedge.com/news/2017-12-29/stunning-look-i...

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