» » The 1 Bitcoin Show- Report from Seoul South Korea- what is really going on in cryptocurrency here

The 1 Bitcoin Show- Report from Seoul South Korea- what is really going on in cryptocurrency here

20 February 2018, Tuesday
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hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is December the 4th 2017 strong hand buy and hold alright everyone so I am in Seoul South Korea I'm at the glaad hotel thank you to my host for treating me right taking me around today it was a blast I met with the people at the coin 1 exchange we're gonna talk about that I was at the Bitcoin Center in Seoul South Korea this is the first day of my life that I've ever been in Seoul South Korea I took the train up here from Busan this morning and I'm gonna go back in the morning uh in the tomorrow I'm very tired I'm totally exhausted I want to go to bed this hotel is very nice it took me a little while to get the internet strain out so that's why it's so late again my host is gracious we had a great meal tonight we met great people met with a reporter we're gonna talk about all this before I get into everything about South Korea and to tell you the truth about what's really going on here in Seoul I want to mention two quick things Gabriel yesterday from Ana's whele right I heard this morning when I was leaving my place in Busan I sent me the the news that his president day made the announcement that they're gonna have a centralized cryptocurrency of some sort down there in Venezuela I'll comment the o matic on tomorrow's show I think it's interesting obviously it's not the same thing as Bitcoin at all and I'm probably the the president's trying to delay the inevitable but uh it's interesting nonetheless there is a new Bitcoin no cryptid dividend Bitcoin Rodion ma yeah believe it or not I'll link to it below it looks pretty real at least it's not just a reddit thread got a twitter got a page it's coming in December I forgot now I found it yesterday there's also a rumor the guy Chandler gal you all have heard of this guy before from Bitcoin etherium classic he either made a joke or he's serious he's gonna make a fort called Bitcoin I'm not even gonna say the name G - D I think it's uh and he's gonna release it on Christmas that's why I think it's a joke I mean if he thinks that's kind of things funny I don't know you know poking fun at religious people I don't know maybe he's serious I don't know so let's start let's start off I mean he could say when he wants to but that would be pretty lame name for a Bitcoin crip through dividend I don't know it's not good marketing and Chandler gal has said some odd things in the past so you might hear about that that's why I'm just pointed out I'm not whatever I'll look into it eventually it's not the biggest deal in the world this let's deal with what we got to deal with here and first I went to the Bitcoin Center in Seoul and it sits in an area with a lot of expats people who are not from Korea if you don't and there were a lot they were at this event there are a few people came up there were Americans Europeans Asians no one from no one that was born in South Korea came to this and I was just talking the whole time it was a blast and as usual there was one woman there so 5% of people were women and she was she was from Los Angeles actually originally and she was she'd already bought some big coin she'd heard about it when turned 10,000 and she was interesting I'll tell you about her in a second and I'm reading this from all my notes here so there's gonna be a little bit different it buried that the crowd buried and again this describes the expat community which dominates this Bitcoin Center but there are a lot of people involved in this so they're worth mentioning they they don't exactly they're not they're not the same as the South Koreans but they do have some they are traders a lot of them were traders a lot of them wanted to get into AI cos a lot of them were all coin speculators and somebody mentioned Iota and I thought that was funny because iota had come up here in our little in our ecosystem in the United States it was controversial then people were pointing out problems technical problems with it and the people did not seem to know about or care about these problems with iota they were kind of I kind of they were just saying oh I've heard it's got good technology and again some of the people here didn't really care what was behind the ico what was behind the altcoin they wanted a 10x return these were traders these are people who were getting into cryptocurrency to make money they weren't really interested in what some of these coins could do there was a guy who really didn't like Bitcoin but at the same time he didn't really like king of the trolls either so it was an interesting combination there wasn't you know in errors on our side here we have a lot of loyalty toward Bitcoin a lot of people willing to fight yell and enlighten people loyal to be cash there was a lot of loyalty among these people they did have some favorite all coins etherium classic was mentioned there's a guy from Switzerland who actually came to the event just to meet me hello there were a few people who knew me at the event that was nice it's very flattering to be known you know so far away from home and they're actually two guys I did not know them when they were in Baltimore but they were apparently had Baltimore connections that were there eventually so that was that was very interesting everyone was a little different there so there were a few a few that were into holding Bitcoin straight up but again you kept hearing there was one guy who seemed like he wanted me to just like say I CEOs are ok it's ok cuz I just kept saying it's just better to try to hold but then there were people that were just don't know you gotta you gotta take the 10x you gotta do your due diligence your due diligence they kept saying the words due diligence and again you can do all your due diligence you month on I cos it's not gonna guarantee anything there so that it was he was interesting it was it was an interesting group of people and at the end at the end the Americans who showed up at the end they needed some Korean wons so they're like hey anybody want to buy some Bitcoin so people start buying Bitcoin with cash from them including the the woman from Los Angeles um so it was cool I I give her credit she was totally new to Bitcoin she had a little bit of Bitcoin and then she straight-up bought more Bitcoin with cash right there so it was good it was interesting to hear about Iona again and this would be a reoccurring theme throughout the day that there's a little force out of some of what would occur next so next we went to the exchange to the the coin one exchange downtown and again Mike my host is taking me around the cabs very awesome very generous guy thank you for coordinating all this and the coin one people were very interested and asked me some questions they were interested in remittances also they haven't gotten into remittances yet fully but they are in exchange the second biggest exchange in South Korea and they have a contends there ten coins of the list and I do an ad that what I would start learning from these people is that people and I've mentioned this before so many people in South Korea do not control their own private keys they just leave their coins at the exchanges and that's because so many people in South Karia just want to trade they don't care about any of the fundamentals of the coin they don't care about Segway they don't care about they might hear a rumor that something's technologically advanced so they'll be like well that's a sign to buy that's a sign to buy and it's going to go up so I buy now I'll sell tomorrow because it's about to go up they just I mean they just want something to trade like a stock 80% they told me that people told me they think 80% of people out there buying the coins in and it's funny they use 80% you know 20 80% 80% of people buying coins out there saw that South Korea just want to trade it just what they're not into holding they're not in doubt what the coins stand for no there are no loyalties the coins among most people in South Korea not no belief in the fundamentals they don't care they rely on the latest rumors on what is hot and they will believe just about any rumor which is not a good thing so they have to show me the money attitude they just want to make the money that's it they want the money they want to flip get some more I probably more wine i I thought at the firt again when I was dealing with the expats so the altcoin traders straight up admitted we're just using all coins to get more Bitcoin okay but they were still interested in offline so here the people at the exchange were just saying these people want to make money they want to trade they they don't care from Bitcoin to be cash to litecoin whatever the one is the hot one they want to know what the next pump is so I Oda they bring up iota again iota is the latest flavor of the week there people have heard rumors about it they have no clue about what it is but they hear stuff about it and they buy it and they puppy and then it heads the price you guys see the price pumping and people the West are buying it too there is a total disconnect between the rumors that the Koreans here and spread and the facts that we get in the West they had no idea about the technical problems the technical controversies of iota of a few weeks ago didn't care it is like a bizarro world at times it's bizarre a world of altcoins in Korea sometimes is they just don't care they don't they don't they don't care they're gonna go with their own rumors whoever tells them if something's hot they're gonna buy it thank you decentralized again for the $50 is the second time you have 70 $50 you say I am looking spiffy well I have to say to you you are you're not your great fan you really are great a great fan today to do an 8 $100 in support of what I'm doing and I'm glad you appreciate this because I'm trying to get people unique perspective here you do not you don't hear what's that going on in South Korea on the ground from an English speaker because not many speakers have taken the time to travel to South Korea and hang out in Seoul in a very very cold day in Seoul South Korea it is cold god you can only imagine the young men the young Americans who were sent here in early 1950s - uh you know that must have been very difficult very very difficult to deal with this cold especially up north and stuff only I could only imagine how much the people are suffering up there under that dictator right now I can up because it's cold enough here and we have every modern amenities known to man in this beautiful powerful country of South Korea all right so uh and you know another thing everyone's gonna ask but you hear anything about North Korea no people just go on with their life here they had like a missile test the other day I don't even know about it really I mean my mom told me about it she wouldn't know if I was alright it's very interesting you know we worry a lot about North Korea in America here is just is there they deal that's it all right so um I want to talk about a king of the trolls could easily pop be cash here again if he visited and and made it any kind of an announced some sort of partnership with a local company that is the kind of thing they want to hear they want to hear a so called superstar of Bitcoin or of of cryptocurrency come to their country and tell them you know here's something new I'm partnering with so because I really think he's gonna do something like this and I'm not giving him any ideas I mean I assume he's smart enough to come up with this he does live in Asia and he has to know what's going on the ground here because I am almost positive that you know during that November 10th 11th 12th till November 11th 10th and 12th pump of B cash that they had that they organized it around South Korea to enthuse the the people here who love to be pumped up and I'm warning everyone a warning I mean I'm saying to your strong hand Bitcoin people you if you get freaked out by beat gas pumps you're gonna get freaked out again he's they're going to these people will eat it up they will be convinced to buy B - again in large large numbers and I just gave you the formula on how he can do it found that like button if you like if you if you like straight-up truth that you can handle the truth like that so on this coin one exchange here's a little tip for you they're about to list the be gold if that means anything to you if you think that means B goals about the pump because they're about to list it it's already listed only other two major ones so who knows what that means I wanted to share that I wanted to say this though if B gold wanted to tell people in South Korea hey hey we're about to be listed on this exchange they could pump themselves up I mean the if these cryptocurrencies have marketing teams and they are centralized like B cash is they take advantage of this situation here because these people want to hear hot rumors and once they hear a rumor they pile in to these coins and it makes a difference out in the West in North America in Europe also because the numbers here are growing people want to get into this they like speculation they're used to the stock market now they're transitioning into this again they don't care what this stuff Stan some of this stuff stands for they don't know the difference between iota and indie cred or whatever you want to you know you were shouting out random up all coins here anyway again and there are these Korean forums that you if you know Korean you could spread some rumors there that are gonna get people Pumped Up I'm gonna get into that in a second yet so they buy just about any rumor okay G Han woo I'm gonna say his name once here I call aka rocket man woo I just wanted to put that out there right now so no one gets confused as is very important he is very well respected here they oh wait he's word on Twitter okay I think on Twitter they await his word these are people I meet again these are real South Koreans telling me this they respect him there are many people that want to hear what he has to say next because they they are gonna do they're gonna buy what he says now what do you think he's gonna say next when when they get their plans together he's gonna say something about be cash something coming soon be cast and king of the trolls maybe he'll make an announcement here also again the people will be flattered the people will be happy here the people will be like oh that's a sign we're buying now we're gonna make money we're gonna we're gonna get a 50% in the next day let's do this Jihan spoke a rock a man spoke so again there are three what is this I can't read what I wrote it down here there are three big exchanges the bid thumb is the biggest coin a coin one where I visited is they're known for their security and safety and the other one is Corbin right that's the oldest one I think the other ones Corp yeah Corbett there are many new ones though they're like 20 new ones that are coming out they're trying to challenge on all three on all of the three main ones non-koreans can sell crypto for crypto without being KY seed and this is important to point out because that helps carry over the price back west non Korean people are coming here they're trading all coins for all coins Bob I love all coins prices are being boosted up there they're getting more of that all point and then taking them back to another exchange somewhere else getting their dollars out of it all right so we're interconnect whether we like it or not we are interconnected the whole world is interconnected with these pumps that are going on these people desire the pump I don't I don't know how many more ways I can tell you it but it has to be stressed it has to be remembered you have to pay attention to what is going on here and the rumors that they're willing to take in again we're gonna get into situations where people are going to take advantage of this they're gonna be they're gonna send Korean speaking people to these forums to start talking to these people marketing is key they eat the marketing up they're believing it they're believing everything I believe in about iota so my third meeting was with a reporter and some of this is from her again if you get people with spreading the rumors of your coin pumps it's it's gonna spread it's it's gonna catch on like wildfire they want to hear uh there's there something called cacao social media and I'd link to some things below I haven't linked to everything yet as I'm very tired if you want me to if there's something I forgot I can link to it it's about ka ka w I mean o ka ka Oh social media platform and the forth exchange is uh link to there and that I forgot what that exchange is called now I I had it written up it it's called up it and that is up and coming one because people are angry people are angry at big thumb because bit them crashed during the last be cash pump on November 10th 11th and 12th and a lot of people lost a lot of money because they weren't able to saw the top but they bought really high and they want to sue bit them and now they're angry and they're moving through this up it and up it is very easy to use and fifty million people are on this social media platform okay and they can easily access this update and again there are a lot of people in South Korea just want to flip they want to make some quick money they're hanging out on Kakao social media they're gonna find out about a bit this thing is just getting started here it's just getting started here if you are again if you if you go to Korean and you join these rumors these rumor forums these analysis formers these social media groups you could pump a coin you could pump a coin that's all you need you need to know Korean and you need to know these forums and just to start talking and just start bringing it up so this woman again asked me about iota she's like it's the latest thing that people are talking about and I'm like what is going on here I like that you hear about the technical problems that I haven't or anything about that I don't know anything about it I don't know I just know that people are buying it here because she says that people they they think 50% of people she says that her buying cryptocurrency in this country think that you must buy one share of a cryptocurrency at least meaning that if you want to buy Bitcoin you have to buy at least one Bitcoin 50% of people do not realize that you can buy a fraction of the Bitcoin so they see this thing called iota it's only like 2 bucks and they're like well why don't I just get a bunch of these shares since I can't afford one share a Bitcoin or or something else and and and this one it since it's only two dollars it could double in a day and then I'll be out of it in a second so they see they're more prone to accept these cheap altcoins that some rumors are going around about because they they can make their their their 10x are that much quicker they want to 10x or they want to make a 10x that's all they that's all so a lot of these people care about and they don't get the basic they've never sent a Bitcoin in their life they don't care they keep all their coins in exchanges so why do they need to send anything why do they need to know the difference between Manero and deep red or anything or iota so I call I mean I call this the iota of fact here that Bitcoin is too expensive so I'm gonna buy something cheapest thing possible and I'm gonna hope that it goes up really quick so I can flip it really quick I don't care what it is everybody else is talking about this thing for some reason so I'm getting into it and again this even all this iota talked even got into the expat community that's why I brought that up at first but some of them knew about more detailed issues of it so here's an example of technical and quote-unquote technical analysis that's on these forums this is not a joke the reporter told me this she says there was a woman on one of these forums who got predictions right three days in a row and since she was able to make correct predictions three days in a row many people started to worship her and take her word as the gospel there's just random woman who got things right three days in a row another form of technical analysis is if you've got four coins for different alt coins and three of them go up one day and the fourth one doesn't go up that one day then the next day you gotta buy the fourth coin you gotta buy the fourth point because if you didn't go up that one day it's gonna go up the next day this is their tech that this is their technical analysis that some people do this is I'm not joking about this and if you think it's funny don't in one level it is funny but there's a lot of people who believe this there's a lot of people who read this there's a lot of people who buy into this we're gonna buy whatever is behaving in that man and that is that is quite disturbing on one level I mean we're gonna we're gonna have to deal I I did ask about deke read again because I had heard people knew about deep cred but no one had really heard about the credit credit could says they have this governance system where they actually have marketing they could easily pub themselves here so maybe the rumor that I originally heard is that maybe some people within the Detroit community understand how it works here and are gonna try to pump themselves if they got a Korean a Korean I mean who's vixx Korean who likes deke red who could start talking in these forums and these social media platforms Dee Craig's gonna pump I mean it could be any day I mean look I own a spine look iota is pumping now all over the world apparently I don't know what's going on but I can tell you for sure they're into the iota here because it's cheap and they think is gonna go up a lot and yeah when I was here the government of South Korea needs to announce that they think cryptocurrency is a Ponzi scheme so they're gonna try to regulate it more or something I don't know we'll see they probably just wanted to make a statement because everybody's talking about cryptocurrency here the reporter told me that Rocketman woo is the biggest name in cryptocurrency in this country and that is because be cash pumped more than aetherium and the talent used to be the biggest name but now since be cashed brought them more money than aetherium did they don't care about a theorem anymore because they have no loyalty they like be cash they'd like what Jihan has to bring so Jihan says something they're gonna they're gonna listen and she mentioned that Cardno is pumping now here too the people are starting to talk about this card ah no thing which she doesn't know what that I don't I mean I wouldn't know what that is I saw it's moving up on world IV again they're gonna jump on the trends man they are gonna jump on the latest rumor you convinced them of a rumor a bunch of people are gonna pile into it I knew yeah it is funny that people are are bitter toward bit thumb for that whole be cash that they couldn't sell it be cash fast enough that day the crypto currency exchange volume in Korea is now large I was told is now larger than the Korean version of the Nasdaq people that like cryptocurrency a slight cryptocurrency because it's less vulnerable to manipulation by institutional investors they have moved from stocks to cryptocurrency because they thought stocks for being Nick related by institutional investors and they like to clip their current they think their cryptocurrency has nothing to do with institutional investors okay we could get into that later but there are so many people from that just used to be day traders that we're into trading stocks that are just transitioning into crypto is now because they like that better and and they're just doing what they did with stocks with cryptocurrencies they don't care that you know cryptocurrency their chain might change the world they just want to use it as a tool to get rich like they were using stocks because they're big gamblers here they're big risk takers they like getting into a financial event adventures but I bring this all up because it is affecting our side of the cryptocurrency world too because if more and more people are going to get into this one final rumor that this reporter asked me about seriously so obviously there are many people in this country believe it's true she said yeah it's Craig Wright really Satoshi so people believe that that it wasn't a joke at all that question wasn't a joke and so I mean in our world we know this guy is like whoa Craig right it's like a joke a scamster I mean I mean it's bad but here it was I mean it's very serious question so many people and uh yeah it's gonna it's it's growing mainstream by the day here and the 80 80 percent it's dominated by 80 percenters in a sense that they don't care what they're trading they just buy they just find rumors holding is virtually unheard of short-term time horizons here they want quick huge returns this is very short-term mentality this is not strong hand this is not buying hold this is not pound that like button and I mean there's only so much I can't speak to Korea I can't go on these forums and start convincing people I mean the people that the exchange is the reporter they all respected my buying whole philosophy the expats they were down with it to some of them they understood it somewhere into it but this is it's a way of life here gambling is a way of life investing in stocks is it has been a way of life to make money for a long time I seen the super chat whoa again decentralized you you must be a wealthy man thank you again for $50 I are citta Xin Satoshi Nakamoto he says he's Satoshi Nakamoto I think he's saying that maybe he is he's got a lot of money I believe him more than Craig right this guy seems nicer than Craig Ritz he's more legitimate Craig right seriously all right uh dude thank you very much thank you for that pound that like button man I really that's very nice of you all right so finally everyone wants quick Hughes returns but they're willing to move to chase these huge returns they're willing to believe most anything which is that good that's not good so there's gonna be people who lose it lose a lot again it's gonna it's gonna affect all coins in our market and since be cash is an altcoin it's going to affect the price of Bitcoin they pump up be cash the next time it's gonna affect the price of Bitcoin no doubt about it and I'm sure it'll be planned but by the guys you know who and yeah they have an advantage at be cash if they're centralized they've got prominent people who can market for them I mean - could do the same thing but obviously Rocketman woo is very well-respected here they would love it if king of the trolls came and visited here and announced a partnership with their a business in their country they would love it and and and they would public they would start buying it like crazy they think oh clearly be cash is the next big thing gotta get in on this and yeah be cash is cheaper than uh Bitcoin - so they could get one share of it for cheaper and that would be a beat and that might be that might help be gold out to be gold I I know for a fact they did tell me that these people here in South Korea do didn't know that they were entitled to freebie cash and freebie gold they did understand that much of the of the equation they did under they're still willing to buy the stuff - at the same time which is unfortunate but I think that that some of them because of the Bitcoin name think that these are cheaper versions of Bitcoin so why not get the next best thing when I get one share of the next best thing so this could help those Bitcoin crypto dividends this could help future Bitcoin crypt of dividends I will say that some of the expats for the entire to the crypto dividends but they weren't holders that's the thing and the people I talked to also at the exchange they weren't big fans of crypto dividends because they have to list everyone because the people start demanding them the people start wanting to sell them once they get them for free so it's a bit a vicious cycle should we say with the crypt of dividends all right so those are my observations from today it's different here it's different here and there are actually sixteen year olds who trade all coins for all coins they find ways to get all these exchanged there are really young people trading all coins for all coins on here they can't trade for Fiat because they're gonna get KY seed but they know ways on here these young people I was told there are young people on here so it's a big it's a big deal here gambling is a big deal here being in the stock market has always been a big deal here you look up what their version of the Nasdaq is called here I think it's called it has that out in the West called to see yeah if it's true if the crypto currency volumes are larger than their version of the Nasdaq here now that many people are getting in the crypto curve because again I mean the deeds changes by the numbers are some of the biggest crypto currency exchanges in the world here their top three are some of the largest in the world by volume so we're gonna have to understand what these people were thinking about here if one word sums it all up it is the word pump they want to hear about the pump what's gonna pump tomorrow so they can buy it get in on it and then dump it as soon as possible because there are no long-term time horizons here is all short short-term time horizons I'm not a believer in that I believe in the pound that like button buy and hold I'm Adam I should have been quite much to disrupt meister remember subscribe this channel like this video share this video do check out the notes section below I got one more video left for tomorrow in Korea and then I'll be back in Baltimore we'll get back to the normal thing again good night everyoneскачать dle 11.3
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