Bitcoin - a friend but greater enemy

[Domithra]

The big time cryptocurrency guru, Bitcoin is now faced with an ironical fate - my friend, my enemy.

Big governments around the world are catching up with the cryptocurrency craze. Apparently, they’re on a hunt for blood. After announcing the ICOs are greatly influencing financial and economic order in China, the government banned all forms of ICO funding . It happened in October 2017, with bitcoin losing nearly 10%, Litecoin 24.92% and Ethereum 21.74%. In Venezuela, the government has began locking up Bitcoin miners , although because of the severe financial crisis, cryptocurrency might actually help overcome a complete financial blockage.
Previously the head of the state Nicholas Maduro has said Venezuela would issue 100 million tokens, each backed by the equivalent of one barrel of Venezuelan oil. This will make the entire value of tokens a little over $6 billion. The pre-sale is about to start on February 20th, but critics strongly doubt that such measure could pull the country out of the economic crisis. Besides, some consider it illegal.
As far as South Korea is concerned, which is also one of the most popular Bitcoin markets in the world – the ban on anonymous cryptocurrency trading has just been enforced.