As Korean policy makers grow increasingly worried that the [bitcoin] mania has gone too far, the nation could become a focus for bitcoin traders around the world. Korea’s top financial watchdog, which briefly roiled cryptocurrency markets with its banon initial coin offerings in September, said this week that it has “grave concerns” about overheated speculation and has formed a task forcewith other government bodies to increase supervision.Bitcoin is a web based simulation of cash. Central bankers will go to auto traded cash; intelligent cash cards.
Bitcoin is being driven by its use as an ad hoc FX transfer tool, mostly Chinese escaping the off equilibrium PBOC. PBOC is up shitcreek without a paddle. Thre PBOC is a loop, complex but looped. Bitcoin is pricing the loop. Each PBOC discretionary move is priced within days. FX transfer is what bitcoin was meant to do, and if ever a digital coin could use a blockchain, it would be central bank neutral FX transfer. It is the one monetary function of blockchain.
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