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<\/div>Crypto Wake Up Call<\/h2>
For many low-income young South Koreans, it was an an entirely new way of making a living.<\/p>
The cryptocurrency market made a ton of people rich during its early years, with the value of Bitcoin reaching incredible heights.<\/p>
But what goes up must come down: 2018 was a harsh wake-up call for those invested. Many Koreans who invested in cryptocurrencies lost many thousands of dollars in the crash, the New York Times <\/em>reports<\/a> — but still hope for a rebound.<\/p> South Korea remains the third-largest market for cryptocurrencies after the U.S. and Japan, with a side dish of crypto pop culture that hasn’t been diluted by the market meltdown. For instance, contestants compete to build blockchain businesses on “Block Battle,” a TV show that calls itself<\/a> the “world’s first blockchain survival TV show,” with viewers at home voting in real-time like “American Idol.”<\/p> “Who’s the next Satoshi?” the moderator asks rhetorically at the top of the show, a nod to the nebulous forefather<\/a> of blockchain tech.<\/p> The show aired its first episode back in October 2018 — a terrible period, ironically, for crypto prices.<\/p> While many Koreans are still counting their losses, the dreams of becoming rich through cryptocurrencies is still very much alive.<\/p> But the harsh reality — including numerous hacks<\/a> and scandals involving South Korean crypto exchanges — should really be a sobering wake up call.<\/p> READ MORE: <\/strong>Cryptocurrency Was Their Way Out of South Korea’s Lowest Rungs. They’re Still Trying.<\/a> [New York Times<\/em>] More on cryptocurrencies: Did a Crypto CEO Fake His Own Death to Abscond With $190 Million<\/a><\/strong><\/em><\/p> The post Low-Income Koreans Got Rich on the Blockchain, Then Lost it All<\/a> appeared first on Futurism<\/a>.<\/p> Visit link: Crypto Wake Up Call For many low-income\u00a0young South Koreans, it was an an entirely new way of making a living. The cryptocurrency market made a ton of people rich during its early years, with the value of Bitcoin reaching incredible heights. Continue reading Block Battle<\/h2>
Cryptopia<\/h2>
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Low-Income Koreans Got Rich on the Blockchain, Then Lost it All<\/a><\/p>","protected":false},"excerpt":{"rendered":"