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RE: Now, what am I reading? The BANKS in South Korea are reluctant to a total ban of cryptoz, while the government pushes for it. Why?

in #cryptocurrencies7 years ago (edited)

There is also the nuance of collectivism that runs quite deep in the Korean culture. I think this needs to be considered when even constructing the lines that differentiate the "bankers" from the "government." Such lines look different in South Korea than they do in the West. The prospect of a decentralized, non-associated currency is breathtakingly threatening to the Korean governments structure of operation in the country - not because the government is oppressing the majority of Koreans into conformity but because such conformity is an expression of patriotism and culture in Korea.

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They need their taxes to continue their overpriced and not needed services :) All governments are the same in principle, some more than others. And cryptocurrencies was suppose to have that kind of an effect on governments and central banks. There is surely other and hopefully better ways to express patriotism and culture than through a centralised currency barely 70 years old. :)