After the Acorn Coin press conference, I started full-scale external activities as the representative of WHTS Company.
The first step in external activities was an interview with the media, which was previously abandoned or replaced by employees.
“The representative seems to view this surge in cryptocurrency very negatively. Is there a special reason?”
The reporter quietly puts a small microphone in front of me.
In the past, he would have avoided answering embarrassing questions like a pit, but he had no intention of doing so anymore.
“I would like you to use the expression of concern rather than the expression of negativity. As everyone knows, the market is overheating right now.”
“All right. concern. If so, do you think the price of cryptocurrency will go down in the future?”
“Cryptocurrency is an investment product. Of course, when there is a time to go up, there is also a time to go down. As much as it climbed steeply when going up, it will come down steeply when going down.”
A smile appears on the reporter’s lips as if the number of cases came out, and then disappears.
If we let the article go on like this, tomorrow morning the newspaper will cut the front and back and have a headline like this.
[WHTS Company CEO’s warning, “Virtual currency will plummet.”]
In order not to see an article like that appearing, I had to throw a rice cake that the subscribers would be afraid of.
“What I am most concerned about is the information gap between individual and professional investors.”
“Isn’t that only true for virtual currency investments? There must be an information gap between investors in stocks and other investment products.”
“you’re right. However, existing investment products have legal safeguards, such as preventing insider trading.”
South Korea has lax laws, but in the United States, when insider trading is clearly proven, a sentence comparable to that of murder is sentenced.
“But what do you think will happen if you take advantage of insider trading in the cryptocurrency arena?”
“There is no relevant law… … .”
“There is no punishment. In effect, you have to rely on your personal conscience.”
personal conscience.
Is there any lighter word than this in the investment world where money comes and goes?
“When a crash approaches the threshold, insiders and professional investors will quickly dump stock. All the damage will be borne by individuals who do not have a window for information.”
When the conversation has reached this point, the intercom rings as if the timing is right.
Beep.
-CEO, you need to move to the next scheduled location.
“All right.”
I turn off the intercom and get up. Then the reporter who was interviewing hurriedly stood up as well.
“I’m busy lately because there are a lot of places looking for me. Let’s end the interview here.”
“CEO, just one more thing… … .”
From noble mtl dot com
Cuts in before she finishes speaking.
“What did you say the reporter’s name was?”
“This is Kwon Ji-eun of the Naeil Economic Daily.”
“The interview was comfortable because I seemed to be able to communicate with our reporter in this direction. I hope to see you often from now on.”
The reporter quickly nodded. Since it meant continuously providing articles, you must have wondered what kind of rice cake it was.
‘From now on, I will have to actively use the media, so it would be better to have a reporter I know in advance.’
* * *
After the interview, I immediately get in the car and head to the Yeouido Convention Center.
Today, an event with the theme of the Fourth Industrial Revolution and virtual currency will be held there.
Similar events were popping up all over the country as the degree of attention of virtual currency increased, but this time it was different from other chaff events.
“Isn’t it so out of the blue that the Ministry of Future Planning is hosting an event related to virtual currency?”
Questions come from the passenger seat. It was Lee So-young who attended the event together.
I am the representative of WHTS Company, and she was invited to the event as a developer of Acorn Coin.
“It must mean that virtual currency has become famous enough to be taken care of directly by the government. Isn’t it reported in the media every day?”
“That’s right, but I’m just worried.”
“What are you worried about?”
“I heard that a large number of people in the industry were invited to this event, not just us. According to what I found out, the government held an event like this formally before issuing a related policy.”
I don’t have a very good memory of the government’s virtual currency policy.
Nine out of ten times, they will come up with regulations on virtual currency, and in fact, such regulations have created a big stir in the cryptocurrency market.
‘The timing is more than two years early. It must be seen that the flow of time has already been distorted in the virtual currency side.’
Maybe it was a good thing that the timing was pulled.
As the fire of virtual currency has yet to spread widely, the government’s quick response may achieve early evolution.
When we arrived at the venue, a huge crowd had gathered from the entrance.
There won’t be that many people invited, so most of the investors who are interested in virtual currency must have gathered.
“uh? that person… … Aren’t you the CEO of WHTS Company? Daniel or Daniel.”
“My dear, it is true. why did you come here Are you here to hold candles again?”
“Sell it all right now. Seeing that person invited, it’s clear even without looking at the government stance.”
The gaze of the people at the event hall looking at us is not good.
Lee So-young must have felt that too, so she clung to me and shrank.
“CEO, why are people doing that?”
“I have recently made a few remarks warning of the surge in virtual currency, and it seems that the hatred has been firmly established.”
“No matter what, the atmosphere is like this… … .”
“This is good enough. At an event I attended the day before yesterday, they said if you don’t keep your mouth shut, your tongue will be cut off.”
“too bad.”
For investors, the virtual currency market is just a wrapper called IT, and it is like a house gambling house.
If you go to a place like that and say you’re ruined, you’re bound to get a radical reaction.
“Why is the CEO talking about the right thing? People won’t even notice that.”
“Actually, I don’t expect people to heed the warning.”
“But why… … ?”
“It’s all for later. If this is not done, resentment and criticism will return that you cannot handle after the plunge.”
It can be seen as a kind of dereliction of action. It would be nice if at least one or two people were lucky enough to avoid danger.
“Can I avoid resentment later if I stop investing now?”
“There is absolutely no way to avoid it. I’m still trying to do it.”
Lee So-young holds my collar tightly and bows her head.
“sorry. If I had defended the price well, I wouldn’t have had to worry about this… … .”
“I’ve said it over and over again, but it’s not So-Young’s fault. What will come is only what has come now.”
“… … .”
Lee So-young has a very responsible personality, so if she has an accident, she can hardly recover. At times like this, it would be better if we went on vacation as a group, but there is no sign that things will calm down.
‘I hope this government announcement will put on the brakes properly, but it won’t be easy.’
Go through the side of the venue and enter the waiting room at the back of the stage.
I was scheduled to give a speech at this event, so I had to go to the waiting room in advance.
Sigh.
When I opened the door to the waiting room and entered, a middle-aged man with a heavy impression was sitting alone in a chair. Looking at the atmosphere, it seems that he is not the kind of person who came to prepare a speech like I was.
As I was about to turn around and pass, he calls me over.
“Is that Daniel Shin? No, I should call him Shin Woo-hyuk.”
“Who are you?”
Then he gets up from his chair. I didn’t know because I felt intimidated when I was sitting, but I was on the short side.
“I’m from the presidential secretary’s office.”
Somehow, somehow, he was familiar, he was the chief of civil affairs in the presidential secretary’s office.
“This event was a direct order from the Blue House. Shin Woo-hyuk’s speech was also included in the order.”
You said you wanted my speech at the Blue House? The government wants to regulate virtual currency, so does it want me to make a justification for it?
However, what the secretary said next was completely different from what I expected.
“Today, please give a speech so that the positive aspects of virtual currency investment stand out.”
* * *
We invite the person who talks most negatively about virtual currency to speak on the positive side of virtual currency.
What does this mean?
I couldn’t figure out the government’s intentions, so I had to go up to the podium with my head confused.
The presentation went smoothly, and the event ended without incident or accident.
We stopped by a sushi restaurant near the event site to have a late dinner, keeping our senses of shame.
“It is strange. In order to get the justification for regulation from the government, even if you ask for a stronger statement, please say something positive.”
“I don’t understand that either. like… … As if to promote cryptocurrency.”
“Ah, no way.”
Since virtual currency basically aims for decentralization, it was a thorn in the eye for the country.
If you really want to create a reason to encourage such virtual currency in the country… … .
‘Did the president buy a coin?’
It’s such an absurd assumption that I laugh out loud. Then it’s 8 o’clock and the evening news comes out.
“uh? The representative is here.”
Virtual currency events are mentioned at the top of the news. The data screen showed me giving a speech from the podium.
– Virtual currency is a digital asset with infinite possibilities… … .
In the news, everything else I mentioned in my speech was cut out, and only the remarks in defense of virtual currency are briefly reported.
That’s why you shouldn’t believe what the media sends out straight away.
-The Future Creation Ministry announced that it would actively foster the virtual currency industry to lead the creative economy in order to prepare for the upcoming 4th industrial revolution.
I never thought that the real government would encourage cryptocurrency. It is only after reading the article that I understand the actions of Chief Min Jeong.
-The government plans to release a coin that can be used by anyone in the Republic of Korea, which is the world’s first state-led virtual currency issuance.
Lee So-young sighed from the side.
“I don’t know why they waste money like that.”
As she said, things created by government agencies often went to waste and fizzled out.
I also had the same thought, so I turn my attention to the sushi I was eating instead of paying attention to the news.
Tok.
I was about to dip the tip of the sushi in soy sauce and take it to my mouth. and a scream comes out.
“Coke. Coke. Soyoung, what is it?”
“It’s portal news. Even the details of the coin announced by the government have been uploaded. His name is Arirang Coin, but this is so strange.”
“What do you mean is strange?”
Lee So-young looks at the screen of her phone and reads the news clearly.
“Arirang Coin is expected to be applied with the existing virtual currency deposit system. The interest rate is expected to be in the 20% range, which is higher than that of existing virtual currencies… … .”
“yes? The interest on coins issued by the government is over 20% per year?”
“So. This is impossible.”
The reason why Acorn Coin can guarantee an interest rate of 15.9% is because there are profits from Cy Club and Watts and Bitcoin secured as collateral.
Even this is a plate where the interest rate has to be lowered when the virtual currency goes into a downtrend, so how can a government coin with no profit give more than 20% interest?
“That Arirang coin, if the interest rate is 20%, it won’t last a year.”
Soyoung Lee is probably right. She must have run the simulation hundreds of times with an acorn coin.
The government probably doesn’t know that, but is it intended to make up for all the damage with taxes? Or an outright hit and run ponzi scheme?
“Is Arirang Coin a virtual currency directly issued by the government?”
“I don’t think it was issued directly. It seems that the government only certifies, and the development and operation are done by outside companies?”
If that is true, a picture of passing responsibility to an external company is drawn later. It won’t be easy, but I suddenly thought that it might be possible with the current government.
“I… … CEO. I think I have a bigger problem than that now.”
“What is it?”
Lee So-young rotates the screen of her phone and shows it to me.
A chart of acorn coins was floating on the screen, and the price had soared by more than 50% right after the news came out.