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Cryptocurrency Traders in South Korea Face Fines For Virtual Accounts (yonhapnews.co.kr)
An anonymous reader shares a report: Cryptocurrency investors in South Korea will be fined for refusing to convert their virtual accounts into real-name ones, financial authorities said Sunday. The move comes as South Korea is scrambling to rein in the virtual currency frenzy in Asia's fourth-largest economy, including preparations for a bill to ban cryptocurrency exchanges at home. According to the authorities, cryptocurrency traders will be allowed to convert their virtual accounts into real-name ones within this month, but those who refuse to accede to real-name identification will face fines.
Not ponzi scheme since there is not once person at the top that gets all the money at any point. I don't think bitcoin is wise as investment, though mining I can see the point for the near term. Even so, it's like a futures market more than anything else.
I think cryptocoins are neither currencies nor commodities. To me they look like collectibles with the "scarcity" built into the design . They could be baseball cards, comic books, beanie babies, whatever. One advantage they have though is better liquidity than other collectibles.