It was only a matter of time until more sites stopped tracking Korean cryptocurrency prices. Coinmarketcap forced this change upon users about a week ago. So far, the reactions to this development have been rather mixed. Livecoinwatch is now doing the same, although users can still opt-in to include Korean prices. Giving users a choice is always the best option in this regard.After all, the Korean prices don’t change the fact no one can arbitrage in Korea anyway.
In a way, it is not normal people should exclude Korean cryptocurrency prices. While their values are heavily inflated, it is the situation we have to deal with. Coinmarketcap made this decision on behalf of their users by excluding all KRW trading pairs. It is a decision which sets an interesting albeit dangerous precedent. After all, it is a form of censorship, even though one that matters little to a lot of people.
A Smart Decision by Livecoinwatch
Livecoinwatch is now following Coinmarketcap in this regard. More specifically, they still track Korean prices, but users can turn the feature off. it is a more elegant way of solving this “problem” once and for all. Since very few Westerners can verify their Korean exchange accounts, there is no arbitrage to speak of. Even if they could, there is still the strict fat currency limit to contend with. If there was proper arbitrage, the prices would level out all over the world in the end.
Giving users a free choice regarding this matter is a smart decision by Livecoinwatch. It is possible people will refer to this site more often moving forward. Coinmarketcap has no plans to include the prices again or let users do so in the future. Livecoinwatch users don’t have to register for an account to exclude or include Korean prices either. It is a nice touch, and one most members of the cryptocurrency community will thoroughly appreciate.
How all of this will play out in the long run, remains to be seen. It is evident this Korean “mishap” has caused a lot of panic over the past week. In the end, all markets are recovering and things are returning to normal as we speak. Rest assured there will be a lot of market volatility in the days to come. Many people still dump in a panic rather than maintain a level-headed approach. For now, the Korean price “change” has not made any major impact. The friction and volatility will eventually disappear again.
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