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RE: South Korea bans ICO, hmmm, do we need saving from government or do we need to grow up?
Just the start to regulation of cryptos and ICO. In same ways protection against scammers but probably mostly the government want to control the process and at the same time get a piece of the action.
Indeed. For example; now they blocked exchanges to regulate and get a piece of the action and regain control, somewhere some people are working on totally decentralized exchanges. It is beautifull to see that blockchain technology is going to redistribute wealth and power. Even if it looks like the governments are slowing down the proces on the long term they are speeding it up. People do not want to be restricted. I thought about the tax system. Every government is different, but let's say they tax your income with 52 percent. When you save the rest it got taxed and beside of that it looses value, when you spend it it get's taxed again. So lets sat you have a 1000 net and decide to spend it al. You do not have a thousand bcs that will be taxed to with something like 20% every time something is bought in a shop. So in fact when you get payed 1000 net on your account, you have actually 800 to spend. How crazy is that? 😂😂