2012.06.05 01:53 thepurpleginge United States Presidents
2021.03.25 17:13 eeyeyey636363yey eeyeyey636363yey
2023.03.21 18:37 TheHermitologist ETHEREUM: A SECURE DECENTRALISED GENERALISED TRANSACTION LEDGER. *Yellow Paper* PDF
|submitted by TheHermitologist to HERCOIN [link] [comments]|
2023.03.21 18:13 -n_h101- Just got 8 books for $30 at a used book sale charity event!
|submitted by -n_h101- to bookhaul [link] [comments]|
2023.03.21 16:42 Extreme-888 Bitcoin's Correlation With U.S. Stocks Hits 20-Month Low - What's the Impact on Bitcoin?
submitted by Extreme-888 to btc [link] [comments]
Bitcoin's correlation with the stock market has just fallen to its lowest level in more than a year and a half. That's according to a chart provided by cryptocurrency analytics firm CoinMetrics, which shows that the 30-day Pearson correlation between bitcoin and the S&P 500 just fell below 0.20, the lowest level since September 2021.
This is a big reversal from mid-2022, when bitcoin and stocks moved roughly in sync and the 30-day correlation was briefly above 0.7.
Given the difference between the bitcoin price (which has been spiking) and the S&P 500 (which has been depressed) over the past two weeks, this correlation could continue to decline.
A drop below 0.08 would hit a three-year low.
Why Bitcoin's Correlation With Stocks Is Collapsing
In 2021 and 2022, Bitcoin is largely seen as a speculative technology/asset that should trade on liquid terms like tech stocks.
This largely explains why cryptocurrencies see such tremendous growth in 2020 and 2021 as the US (and global) economy is filled with fiscal and monetary stimulus and then in 2022 the Fed raises rates sharply and withdraws the stimulus (mostly through aggressive interest rates) .
Bitcoin's boom in 2020/21 and crash in 2022 means its price is largely fluctuating in tandem with the U.S. tech sector.
But the financial crisis that erupted in early 2023 is testing that relationship.
Investors may finally stop seeing bitcoin as a speculative asset (like tech stocks) and start to see it the way its creators and backers wish they had always wanted it to be seen - as a safe haven alternative to a fiat-currency-centric central bank Fractional Reserve Banking System
Over the past few weeks, Bitcoin has managed to earn the title of "digital gold".
Bitcoin is up over 40% from its earlier monthly low of $20,000 as investors look for alternative, "harder" currencies/mediums of exchange, and cryptocurrencies have risen in tandem with the price of gold.
Fiat currencies (such as the U.S. dollar, euro and British pound) are less hard than gold and bitcoin because their value is more easily eroded by inflation.
As a result, even though the U.S. stock market has been sluggish, bitcoin is being sought after by safe-haven buyers as investors worry about how severe the banking sector's current problems will become and how much this will affect the banking sector's growth prospects. economy.
is why BTC's declining correlation with stocks is bullish
Bitcoin is not just some speculative technology that may soon disappear.
It is a highly robust, clean and decentralized peer-to-peer payment system that offers a real, fair and transparent alternative to the existing financial system.
Investors finally seem to be seeing it as a bullish signal for cryptocurrencies.
If the banking crisis worsens and the stock market falls as a result, this could further boost Bitcoin's safe-haven gains.
At the same time, even if the U.S. authorities do manage to avert a crisis, the prospect of further aggressive Fed tightening could be dealt a fatal blow.
In other words, the end of the hiking cycle could be within reach.
A more accommodative financial environment going forward (meaning lower U.S. yields) should bode well for gold and bitcoin.
2023.03.21 16:27 Always_comes_back This theory is KINDA dumb, just saying
2023.03.21 16:09 callmequince Due to bugs and human mistakes, more than $1 billion worth of ether has been permanently lost
2023.03.21 16:06 Marcusfredericknero EXPLORING THE DYNAMIC LANDSCAPE OF CRYPTOCURRENCY: NAVIGATING THE RISK AND OPPORTUNITIES IN MARKET VOLATILITY, SCAMS, AND DISRUPTIVE INNOVATIONS
submitted by Marcusfredericknero to u/Marcusfredericknero [link] [comments]
Cryptocurrency, a digital asset designed to function as a medium of exchange, has become an increasingly prominent topic in the world of finance over the past few years. While there are certainly opportunities and potential for growth within this emerging market, there are also many risks and uncertainties that need to be carefully considered by individuals and investors alike.
One of the most immediate and obvious risks associated with cryptocurrency is market volatility. Since cryptocurrency is still a relatively new and untested asset, its value can fluctuate significantly from day to day, rendering investments highly speculative. Bitcoin, for example, reached an all-time high of almost $65,000 per coin in April 2021, before sharply dropping to less than $30,000 by July of the same year. This type of volatility can make investing in cryptocurrency highly unpredictable and risky.
Another related risk is the potential for bubbles to form within the cryptocurrency market. When people begin to invest in certain assets purely because of hype or fear of missing out, the value of those assets can become artificially inflated, leading to a sudden and dramatic price collapse once the bubble bursts. There have been many instances of this occurring in the cryptocurrency market already, such as the Bitcoin bubble of 2017. Investors need to be mindful of the risks associated with these bubbles when considering investing in cryptocurrency.
Scams and frauds are another major concern in the cryptocurrency market. Due to the lack of regulation and oversight, there have been numerous instances of fraudulent operators setting up scams and deceiving investors. For example, “phishing” scams that fraudulently collect login information for cryptocurrency wallets or fake initial coin offerings (ICOs) that disappear with investors’ funds after collecting millions of dollars have been reported.
Despite these risks, there are also many opportunities for growth and innovation within the cryptocurrency market. For one, cryptocurrencies have the potential to reduce transaction costs and increase the efficiency of payments in certain sectors, such as cross-border transactions or micropayments. In addition, some cryptocurrencies are being developed specifically to address concerns such as privacy and scalability, which could provide significant benefits for users.
Cryptocurrency could also have a disruptive impact on traditional financial systems. The underlying blockchain technology that powers cryptocurrencies could potentially be used for secure and transparent record-keeping across any number of industries, leading to significant innovation and change.
In conclusion, the risks and opportunities in cryptocurrency remain significant in the evolving landscape of digital finance. The market has experienced high levels of volatility and speculative bubbles that have caused substantial losses to investors. Furthermore, the rise of scams and frauds in the industry has caused mistrust and uncertainty. However, despite these challenges, the disruptive potential of cryptocurrencies continues to attract global interest, pushing for innovations in secure and efficient transaction systems that are decentralized and independent of traditional financial institutions. The opportunities presented by the growth of cryptocurrency cannot be ignored, and it remains essential for individuals and organizations to remain vigilant and informed about the risks and benefits of investing in this emerging asset class. Ultimately, the future of cryptocurrency, like any other market, will depend on sustainable and ethical practices and the ability to balance the potential opportunities with the inherent risks in the industry.
2023.03.21 16:01 FlightyTwilighty I want to hire a researcher in Australia
2023.03.21 15:42 vinberdon [WTS] Continuation of the Grab Bag Sale! Last chance to score sweet bonuses. $35/oz premium silver!
2023.03.21 15:40 Corky081 I missed the BTC bus. Not gonna miss this one #RoboInu
2023.03.21 15:33 mamira78 How Banks and Countries Play Tag with Money 🤑
🧚♀️🧚♀️🧚♀️ Once upon a time, there were many countries all over the world, each with their own special treasures. Some countries had shiny gold coins, while others had colorful paper bills. Each country loved their treasures very much, and they didn't want to give them away.submitted by mamira78 to orius [link] [comments]
One day, a big game of tag was started between all the countries. They all wanted to play together and have fun, but they realized that some countries had more treasures than others. This made it hard for everyone to play fairly.
The countries tried to figure out a way to make the game more fun and fair for everyone. That's when they came up with a clever idea - they would trade their treasures with each other! 😅 🇺🇸🇺🇸🇺🇸
The US, for example, had a lot of cool treasures (like money 💴 ) that other countries sometimes needed, but they didn't want to just give them away. So, the US came up with a plan - they lent their treasures to a big bank in another country, like the European Central Bank (ECB). That way, European countries could borrow the US's treasures if they needed them.
It was like a big treasure trading game on a massive scale, where everyone could participate! The game was so much fun that other countries wanted to join in too. Soon, countries all over the world were trading their treasures with each other, and everyone was having a great time!
All was game and fun until we discovered:
2023.03.21 15:21 XchangeOn Crypto Market Performance in February 2023
submitted by XchangeOn to u/XchangeOn [link] [comments]
Crypto investors experienced positive results in February, as leading cryptocurrencies like Bitcoin and Ethereum posted gains. However, there are concerns that rising interest rates could create obstacles for crypto prices. Aside from this, the collapse of the crypto exchange FTX has also triggered regulatory and legal issues that could potentially impact the market. Consequently, analysts advise a careful approach and close attention to economic data in the upcoming months.
Moving forward, Bitcoin and Ethereum, two of the leading cryptocurrencies, performed well. Bitcoin saw a 1.3% increase, while Ethereum's price rose by 3.7%. At one point in late February, Bitcoin briefly surpassed $25,000 before ending the month at $23,327. Ethereum, on the other hand, closed the month at $1,630.
Meanwhile, Polygon had the best performance, obtaining a 6.6% surge in February. Dogecoin had the worst, losing 7.4% during the same period. Despite the challenges brought about by the previous year's rising interest rates, crypto prices have been strong in 2023. Bitcoin and Ethereum have had a year-to-date increase of 40.8% and 36.2%, respectively, indicating a resilient market.
Additionally, there have been regulatory concerns in the crypto market. For instance, Binance's stablecoin lost its peg to the U.S. dollar, and the US Securities and Exchange Commission intends to sue Paxos for violating investor protection laws. Also, Binance has been struggling since the collapse of FTX, experiencing customer outflows and regulatory probes. In February, Coinbase introduced Base, an Ethereum Layer 2 network, while the International Monetary Fund issued a paper suggesting policy recommendations on how countries should handle cryptocurrencies.
In March, the crypto market will be focusing on the much-anticipated Shanghai upgrade. This upgrade will enable Ethereum investors to remove their staked ETH coins for the first time, and investors are eagerly waiting for it. It will simplify the process of staking and unstaking ETH. However, the upgrade may lead to some volatility in Ethereum prices, which investors should be aware of.
As the crypto market undergoes further changes, regulatory issues and economic data will have an impact on prices. It is recommended that crypto investors remain vigilant, keep themselves informed, and adopt a cautious approach as they navigate the market.
Despite the possible obstacles, several crypto investors are optimistic about the long-term prospects of the market. The involvement of significant companies such as Tesla and Square in Bitcoin and the growing number of businesses accepting cryptocurrencies as payment indicates a bright future for digital assets.
Shortly, we may witness the emergence of more use cases for cryptocurrencies and blockchain technology. Although there may be some bumps along the way, the long-term outlook for digital assets remains positive. To learn more about the history of cryptocurrency, please click here.
Follow us on all socials for more updates.
#cryptoexchange #xchangeOn #fintech #crypto #swaptrading #trading #crypto #bitcoin
2023.03.21 14:49 CoolandAverageGuy e
2023.03.21 14:30 senecadocet1123 888 Holdings Debacle
2023.03.21 14:11 kirtash93 [LONG READ] TIL: Origin of Cryptocurrencies and Bitcoin. Crypto the Next Financial Era.
First of all, sorry for this really long post. I decided to do this post to put some perspective that financial system has always been evolving and that we are probably witnessing this evolution right now.submitted by kirtash93 to CryptoCurrency [link] [comments]
It really took me a lot of effort to gather all this information and then gathering together to create a consistent post. I hope you enjoy it. Thanks in advance.
What is Bitcoin?Understanding what Bitcoin is use to be a hard for a lot of people because of its technical nature.. However, talking about Bitcoin is discussing about the future because as we have seen until now, this is just the tip of the iceberg of the new financial era.
Definition of "Money""Money" is a symbolic concep that has not an intrinsic value in itself. It's value comes from what value people gives to a grain of rice, a piece of metal or paper. Money value is based in its use of case as trading way, posesion unity and store of value. It is important to say that "money" and "currency" are not identical terms because money is intangible while currency is tangible. Sadly during the time this two concepts have been merged to represent value.
Brief Chronology of MoneyDuring the Neolithic, barter was used as the first form of exchange where the direct negotiation of goods or services were the concept of value and the emergence of "money".
In 3000-2500 BC, standards of value were created like weight and quantity to make trading easier. This was used to exchange salt, rice, etc.
In 1000 BC, the first coins were created in China replacing large metallic objects called "seashells" which were used to exchange.
In 700-600 BC, the first coins were created in Lydia (current Turkey) and later in Persia and Greece spreading them through Europe and Asia.
In the 9th century AD, paper money was created in China calling it "bill" and like coins it represented an amount of money.
In the 16th century AD, paper money was created and expanded in Europe. In this moment terms like "certificate," "bills," and "promissory note" became common when depositing amounts in banks.
European paper money
Between the years 1250-1400, the commercialized bank debt crystallized, a set of loans or obligated payment commitments between two entities, such as people, companies, institutions or countries.
Between 1800-1900, gold standard appeared as a standard of support for any citizen who could convert paper money to an amount of gold. The main European central banks were established and the Fed was created in the United States.
After World War II, in the 1940s, gold standard started to go down and fiat money surged backed by the state statement and credit trust. Because of fiat devaluations and inflation perception about the value of money has changed being only the dollar the only want that maintained the gold standard and became the dominant currency in the internationally.
In 1971, gold standard on the dollar crashed and since that moment US joined "fiat" team and still being the reference internationally. Backing with gold ended and was replaced by faith and credit on the US gov.
In God We Trust
In this moment, money is based on trust and its value is based on purchase power. Money rises if there is interaction between goods and services, the need of them, etc. Basically, it has value because we want it.
In this moment is when the party starts giving the government the ability to print unlimited paper money without being backed by gold which is an immense risk for financial system as we have been seeing all this time.
Brrrrrr does not fix a true economy.
In the 1950s and 1960s, ERMA (Electronic Recording Machine, Accounting), first computerized machine for banking purposes, and the MICR (Magnetic-Ink Character Recognition) system were developed.
In the 1970s, Mainframes were implemented as operational support for data processing and transactions at a local, regional and international level.
In the 1980s, a teletext device that allowed interactive consultation of various services called Minitel. In 1982, David Chaum presented the main seed for the creation of a digital currency called "Blind Signatures for Untraceable Payments", the first public member of CypherPunk, a digital activism focused on protecting the privacy and security of users using technology.
In the 1990s, Chaum founded DigiCash, the first electronic currency that allowed anonymous payments untraceable by issuing banks, the government or third parties, but the project did not attract much interest from companies and investors. Instead, E-Gold was hailed as the first digital currency system, allowing payments without a credit card and enabling a wide range of online services, but due to the vulnerability and insecurity of the system, cybercrime led it to its final closure in 2007.
With the rise of Internet and eCommerce in the 90s, Paypal appeared allowing fast transfers of digital money by email and also WebMoney, the biggest payment processors in Russia.
Paypal and WebMoney
Between 1997 and 2007, there were some developments that can be considered the prelude of Bitcoin. In 1997, Adam Black developed HashCash, a cryptographic protocol to stop mass spam being sent to mail servers. This protocol used a small "computational overhead" to send and email which implied an extra computational cost. This helped to create Proof of Work (PoW) protocol.
In 1998, Wei Dai created B-Money, a system of value exchange and contract enforcement between anonymous participants bto provide non-traceable services through decentralized transactions and protect the privacy of each participant in a network. This helped to create Proof of Stake (PoS) protocol later.
In 2004, Hal Finney published his review of Adam Back's HashCash, Reusable Proof of Work (RPoW), which focused on the creation of unique but reusable cryptographic tokens as a process of proofing and issuing digital currencies. However, the validation and protection against the double spend issue was still logged on a trusted central server.
In 2005, Nick Zsabo proposed Bit Gold, a project he had been working on since 1998. Zsabo pioneered "smart contracts" and focused on designing e-commerce protocols between anonymous participants in a network. The project was based on privacy, a decentralized system, and PoW features. However, the project was never carried out due to certain gaps that had not yet been resolved, such as the double spending issue and an efficient mechanism for Bit Gold unit capping.
In 2008, a mysterious character appears under the pseudonym Satoshi Nakamoto, announcing the creation of an electronic currency which he called "Bitcoin". He corresponds with Adam Back, Wei Dai, and Hal Finney, sending the latter a copy of the source code for testing purposes.
Satoshi Nakamoto message
In 2009, the first transaction of the first Bitcoin is launched, in which Nakamoto sends it to Finney, making him the first "bitcoiner". The test has been a success and one year later the capitalization of Bitcoin acquires a value that exceeds a million dollars in the market.
Not Real Satoshi Nakamoto
TLDR; Crypto is the next financial era.
If you have reached this point. You are a hero. Thank you very much for reading this post again. It took me a long afternoon to learn all of this to put it later in a post.
Source: Mainly https://www.wikipedia.org/
2023.03.21 14:02 DenCooper89 What are most popular cryptocurrency around the world?
2023.03.21 14:00 upbstock Prepper
2023.03.21 13:44 senecadocet1123 888 Holdings debacle
2023.03.21 13:39 Joe-M-4 $1k into the Top 10 Cryptos on January 1st, 2019 (FEB Update/Month 50) +204%
https://preview.redd.it/xhsso84q63pa1.png?width=666&format=png&auto=webp&s=3f8bfa7da45c841d56c5608e286fdd2b9408d656submitted by Joe-M-4 to CryptoCurrency [link] [comments]
The full blog post with all the tables is here.
Welcome! This is the latest report for my homemade 2019 Top Ten Crypto Index Fund. This group contains BTC, XRP, ETH, BCH, EOS, XLM, USDT, LTC, BSV, and Tron.
Month Fifty – UP 204%https://preview.redd.it/ctu7isms63pa1.png?width=1087&format=png&auto=webp&s=490e253c9ae69cb2ea6ea3c56e33e24601066e2c
The 2019 Top Ten Crypto Index Fund consists of: BTC, XRP, ETH, BCH, EOS, Stellar, USDT, Litecoin, BSV, and Tron.
February highlights for the 2019 Top Ten Crypto Portfolio:
February Ranking and Dropout Reporthttps://preview.redd.it/25pxlymw63pa1.png?width=405&format=png&auto=webp&s=952156d5fb53e43e8dd2d1402ff3efce549d89d2
Top Ten dropouts since January 2019: After fifty months, 60% of the cryptos that started in the Top Ten in January 2019 have been knocked out. EOS, Litecoin, BSV, Stellar, Bitcoin Cash, and Tron are out of the Top Ten replaced by BNB, BUSD, DOGE, ADA, MATIC, and USDC
BSV has fallen the furthest in rank so far (#68).
February Winners and LosersFebruary Winners – EOS (+16%) followed by Tron (+12%).
February Losers – XRP fell -5% in February, making it the worst performer of the month.
Overall Update: ETH far ahead of the pack, 60% of cryptos in positive territory, BSV at the bottomETH (+1,110% since Jan. 2029) continues to be the best performer of this group, by far. In distant second place is BTC (+529%) followed by third place Tron (+258%).
The $100 investment into first place ETH on January 1st, 2019 is currently worth $1,242.
After fifty months, 60% of the cryptos in the 2019 Top Ten Portfolio are in positive territory. The worst performer is BSV (-56%).
Total Market Cap for the Entire Cryptocurrency Sector:https://preview.redd.it/rnk0uckm73pa1.png?width=582&format=png&auto=webp&s=73c4ad100f0569ec6b889730b6e0877765bd4456
There was no easy way to do so at the time, but if you were able to capture the entire cryptocurrency market since January 2019, you would be up +743%
This is still behind first place ETH (+1,040%) but much better than the rest of the Top Ten cryptos, including second place Bitcoin (+529%).
The total market is performing much better than the Top Ten approach (+204%) as well.
Crypto Market Cap Low Point in the 2019 Top Ten Crypto Index Experiment: $114B in January 2019.
Crypto Market Cap High Point in the 2019 Top Ten Crypto Index Experiment: $2.65T in October 2021.
BitDom ended the month at 42.3%. As you can see on the chart above, it has remained fairly steady for nearly two years.
For context, here are the high and low points of BTC domination over the life of the 2019 Experiment:
Low Point in the 2019 Top Ten Crypto Index Experiment: 38.1% in November 2022.
High Point in the 2019 Top Ten Crypto Index Experiment: 70.5% in August 2019.
Overall return on $1,000 investment since January 1st, 2019:https://preview.redd.it/83ch9myp73pa1.png?width=336&format=png&auto=webp&s=1bde4b13aca31a3b6b3def033afc4f82ee429d90
After fifty months, the value of the initial $1000 investment is $3,036, up +204%. This is down from November 2021’s all time high of +665% for the 2019 Portfolio.
Below is a table summarizing the monthly ROI over the life of the 2019 Top Ten Index Fund experiments, providing a pretty good sense of the journey up to this point:
Fairly steady upward movements punctuated by massive dips. During the Zombie Apocalypse in March 2020, for example, the 2019 Top Ten Portfolio was returning only +6%.
Although the 2019 Top Ten Portfolio is up +204%, it is still a distant second place behind the 2020 Top Ten Portfolio which is up +358%.
Combining the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Crypto PortfoliosSpeaking of other Top Ten Portfolios, let’s put them all together now:
After a $6,000 total investment in the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Cryptocurrencies, the combined portfolios are worth $11,627.
That’s up +94% on the combined portfolios. The peak for the combined Top Ten Index Fund Experiment Portfolios was November 2021’s all time high of +533%.
Here’s the combined monthly ROI since I started tracking the metric in January 2020:
In summary: That’s a +94% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st (including stablecoins) for six straight years.
Comparison to S&P 500:I’m also tracking the S&P 500 as part of the experiments to have a comparison point with traditional markets.
Because the S&P 500 Index is up 58% since January 2019, the initial $1k investment I put into crypto fifty months ago would be worth $1,580 had it been redirected to the S&P 500 in January 2019.
But what if I took the same world’s-slowest-dollar-cost-averaging $1,000-per-year-on-January-1st-Crypto-Index-Fund-Experiment approach with the S&P 500? It would yield the following:
After six $1,000 investments into an S&P 500 index fund in January 2018, 2019, 2020, 2021, 2022, and 2023 my portfolio would be worth $7,190.
That is up +20% since January 2018 compared to a +94% gain of the combined Top Ten Crypto Experiment Portfolios.
Here’s a table providing an overview of the six year ROI comparison between a Top Ten Crypto approach and the S&P:
Conclusion:To both old-timers and newcomers: thanks so much for taking the time to read and for supporting the Top Ten Crypto Index Fund Experiments. I hope you find the updates helpful in terms of perspective as you navigate the crypto landscape. Be careful out there and don’t put your mental, physical, or financial health at risk chasing gainz. If crypto is causing you to lose sleep at night, chances are you have too much in crypto: try to think long term and don’t invest what you truly can’t afford to lose.
Feel free to reach out with any questions and stay tuned for the latest progress reports. A reporting note: I’ll focus on 2023 Top Ten Portfolio reports + one other portfolio on a rotating basis this year, so expect two reports per month. February’s extended report is the 2019 Top Ten Portfolio (the one you’re reading now). You can check out the latest 2018 Top Ten, 2020 Top Ten, 2021 Top Ten, and 2022 Top Ten reports as well.
2023.03.21 13:25 BruntsLeftFoot [WTS] 100oz JM, 10oz RCM, Morgan/Peace lots, Junk lot, US lot at melt, Foreign silver lots near melt, 1/10oz Au & 1oz Ag privy sets, LMU Francs & Crowns!
2023.03.21 13:23 plainenglish2 “Mr. Queen” (historical and cultural backgrounders for international viewers, with references to other K-dramas)
https://preview.redd.it/c457fbhcu2pa1.jpg?width=450&format=pjpg&auto=webp&s=6a0dca102a3c06acfe92c85fac05b2feb05f86cdsubmitted by plainenglish2 to KDRAMA [link] [comments]
Index: Introduction; K-dramas are meant first (or primarily) for Korean viewers and only second for international viewers; A. The historical figures who were fictionalized in this drama; the rivalry between the Andong Kim and Poonyang Jo clans and “sedo politics” (royal in-law politics); lawsuit filed by descendants of a historical figure against “The Princess’s Man”; connections of “Mr. Queen” to “Moonlight Drawn By Clouds” aka “Love in the Moonlight” and to “Kingdom” Season 2, Ep. 4; B. Eps. 8 and 10: Persecution of Catholics during the Joseon Dynasty; the only K-drama I’ve seen that depicted the Catholic persecution in Joseon Korea is “Yi San, Wind in the Palace” (2007); C. Ep. 8: Korean seesaw (“neolttwigi”); D. Ep. 12: Surit-nal (Dano Festival); ceremonial robes and head gear of Joseon kings; E. Ep. 14: Ice as a valuable commodity during the Joseon Dynasty; F. Ep. 14: Donghak (religion, movement, peasant revolution); G. Ep. 16: Difference between “Jo” and “Jong” in the posthumous (temple) names of the Joseon kings; the Joseon kings’ royal portraits and dramas such as “Painter of the Wind” and “Saimdang”; H. Ep. 16: Secret Royal Investigators during the Joseon Dynasty; secret royal inpectors as depicted in “100 Days My Prince” and “Under The Queen's Umbrella”; I. Miscellaneous notes: Ep. 11: the fight with fans as weapons; “jangot” or head covering for noblewomen during the Joseon Dynasty ; the beautiful bridge across the pond in Ep. 1 and other episodes
K-dramas are meant first (or primarily) for Korean viewers and only second for international viewers. Just like in other dramas, the historical, cultural, and political references in “Mr. Queen” are well known to the Korean viewers. On the other hand, we, the international viewers, must dig deep into Wikipedia and other sources (or post questions in forums like this) so that we can understand what’s going on.
For example, some people who have seen “Mr. Queen” said that they couldn’t stand the court politics or the infighting between the different factions because the drama didn’t provide any context. Well, the court politics and the infighting between the different factions happened between the Andong Kim and Poonyang Jo clans, which are well known to Korean viewers and thus, no context was necessary.
When “Saimdang” was first broadcast in 2017, I joined the on-air discussions of the drama in the Soompi Forums. In that forum, whenever I had questions about the drama, I had two go-to persons: for questions about Korean language, culture, and history, I asked “gerrytan8063”; whenever I had questions about Chinese characters used in the drama, I asked “liddi.” I haven’t joined the Soompi discussions after I found reddit, and so I don’t know if “gerrytan8063” and “liddi” are still active there.
Where can we turn to when we, as international viewers, have questions about Korean language, culture, and history as they relate to K-dramas? There’s Quora, of course; “bodashiri” in Tumblr has a form in his website where he/she says, “Ask me anything.” Also, since 2012, the “Annals of the Joseon Dynasty” is being translated in English, with the project supposed to be finished in 2034. Certain portions of the English translation are available online, as you can read in “Globalization of Korean history” from the official Korean government history website.
Oh, maybe we can also use ChatGPT in learning about the historical, cultural, and language issues that we come across in K-dramas.
The very first K-drama that I watched in full was the 2014 blockbuster “My Love From The Star” starring Jun Ji-hyun and Kim Soo-hyun. In this drama, I first heard the term “Joseon Dynasty” and learned how the dynasty heavily influenced what Korea is today.
Before “My Love From The Star” however, I had seen one or two brief scenes from the 2003 blockbuster drama “A Jewel in the Palace” (aka “Dae Jang Geum”) starring Lee Young-ae. Sometime in 2005 or 2006, “A Jewel in the Palace” began sweeping the Philippines. Every night at around 6 o’clock, the streets would become empty, with people shouting to each other as they rush to their homes, “Jang Geum na!” (in English, “It’s Jang Geum time!”). Since that time, “A Jewel in the Palace” has been broadcast in the Philippines five times; that’s how popular it is among Filipinos.
I watched “A Jewel in the Palace” in its entirety only in 2015. Since then, I’ve seen each episode around four or five times already; whenever I feel depressed, I rewatch Ep. 6 where Jang Geum was exiled to the herb garden outside the palace. Needless to say, Lee Young-ae is the love of my life. Next to Lee Young-ae, I love Han Hyo-joo (“Dong Yi”), Han Hye-jin (“Jumong”), Han Ga-in (“The Moon That Embraces The Sun”), Moon Chae-won (“The Princess’s Man”), Park Shin Hye (“The Royal Tailor”), Shin Se-kyung (“Six Flying Dragons”), Park Ha-sun (Queen In-hyun in “Dong Yi”), Nana (“Into The Ring”), and Go Ara (“The Joseon Magician”), in that order.
A. The historical figures who were fictionalized in this drama; lawsuit filed by descendants of a historical figure against “The Princess’s Man” (Soompi); the rivalry between the Andong Kim and Poonyang Jo clans and “sedo politics” (royal in-law politics)
The main characters in “Mr. Queen” are So-yong (Queen Cheorin), played by Shin Hye-sun, and King Cheoljong, played by Kim Jung-hyun. Some of the secondary characters are Queen Sunwon (Grand Queen Dowager) of the Andong Kim clan and Queen Shinjeong (Queen Dowager) of the Poongyang Jo clan.
“Mr. Queen” is fictional, with the following genres: historical, comedy, time travel, and body swap. But its characters and background events are inspired by historical figures and events. For example, the lead character (King Cheoljong) and his background facts — growing up destitute on Ganghwa Island, puppet of the Andong Kim clan, relatives persecuted as Catholics, etc. — are all based on history. Also, the conflict between the Andong Kim clan and Poonyang Jo clan is historical.
King Cheoljong in “Mr. Queen” is a highly fictionalized character that’s different from the historical King Cheoljong. The drama portrays him to be secretly plotting to establish himself as a strong ruler against two warring political factions — the Andong Kim clan (led by Grand Dowager Queen Sunwon) and the Pungyang Jo clan (led by Dowager Queen Sinjeong).
A-1. Historical figures who were fictionalized in “Mr. Queen”:
(1) King Cheoljong
The 25th king of the Joseon Dynasty of Korea (25 July 1831 – 16 January 1864), he was a second cousin to the heirless Heonjong of Joseon, as well as a great-great grandson of Yeongjo of Joseon. He was chosen to become King by Senior Dowager Queen Sunwon (King Sunjo’s widow) and the powerful Andong Kim clan because he was illiterate and thus easy to manipulate.
The only surviving [cropped] image of King Cheoljong
(2) Queen Cheorin: wife of King Cheoljong, also known as Queen Dowager Myeongsun (27 April 1837 – 12 June 1878).
Queen Cheorin belonged to the Andong Kim clan.
(3) Grand Dowager Queen: Queen Sunwon (8 June 1789 – 21 September 1857), also known as Queen Dowager Myeonggyeong, was the spouse of Sunjo of Joseon. She served as regent of Korea from 1834–1841 and from 1849–1852.
(4) Queen Dowager: Queen Shinjeong, also known as Queen Dowager Hyoyu, (21 January 1809 - 4 June 1890) was the only wife of Crown Prince Hyomyeong of Joseon and mother of King Heonjong of Joseon.
Queen Shinjeong belonged to the Poonyang Jo clan.
A-2. “Mr. Queen” was criticized for distorting history. Among the things that was criticized is the drama’s portrayal of the Queen Dowager (Queen Shinjeong in history) as being heavily involved in shamanism.
From “Descendants of Sin Sook-joo sue The Princess’ Man” (Soompi): “According to the Seoul District Court, 108 descendants of old Sin claimed a damage suit of KRW 3 billion [2.2 million US dollars] against the broadcasting company and the writer for negatively distorting the image of their ancestor Sin Sook-joo from the Chosun era.”
This lawsuit was filed in 2011; I couldn’t find any information about what happened to this lawsuit.
A-3: Andong Kim clan, Poongyang Jo clan, and “sedo politics” (royal in-law politics)
From New World Encyclopedia:
At the beginning of the 19th century, the Andong Kim clan, who had provided the Joseon state with several queens, had seized power almost everywhere in Korea. The social stagnation that resulted was a breeding ground for unrest. Corruption and embezzlement from the treasury and its inevitable exploitation were taken to extreme levels, and reached staggering proportions. One rebellion after another was accompanied by natural disasters.
From “Exactly how much power did the Andong Kim Clan have in the Joseon court? How did they attain such power?” (Quora, by Michael L. Best) :
“How did the Andong Kim clan attain power? By intermarrying with the royal family, enthroning young and easy to control men as king, purging political rivals, and, very likely, killing off any king when they begin to threaten their power.”
The term “sedo politics” (royal in-law politics) describes the period 1800 to 1863 when national politics in Joseon was exclusively led by a few powerful royal in-law families, most notably the Andong Kim and Poongyang Jo clans.
From“Collusive Oligopolistic Politics: Sedo and the Political Structure of Early-Nineteenth-Century Choson Korea” by Tae Yeon Eom (2012 thesis, University of British Columbia):
In contemporary Korean historiography, the reign periods of King Sunjo (r. 1800-1834), King Hŏnjong (r.1834-1849), and King Ch’ŏlchong (r. 1849-1863) are generally called “The Era of Sedo Politics” in Chosŏn Korea (1392-1910). In contemporary Korean historiography, the political theme of sedo predominated after the death of King Chŏngjo (r. 1776-1800), when national politics was exclusively led by a few powerful royal in-law families, most notably the Andong Kim and P’ungyang Cho clans, for sixty-three years. Obviously, those two major clans enjoyed extensive political authority and high social status in the nineteenth century.
(1) Queen Shinjeong was portrayed by Chae Soo-bin in the 2016 hit “Moonlight Drawn By Clouds” aka “Love in The Moonlight." Queen Shinjeong’s husband Crown Prince Hyomyeong (King Munjo) was portrayed by Park Bo-gum.
(2) In Season 2 , Ep. 4 of “Kingdom,” Crown Prince Lee Chang visited in Ganghwa Island his distant relative Prince Noseong, an impoverished member of the royal family. The drama portrays Prince Noseong as a lowly fisherman but who’s a well-read man. This character was probably based on King Cheoljong (1831-1864), the last puppet king of the Andong Kim clan. Unlike the drama, however, in history, King Cheoljong was illiterate, which made it easy for him to be controlled by the Andong Kim clan.
“Kingdom” Season 2, Ep. 4
B. Eps. 8 and 10: References to the persecution of Catholics during the Joseon Dynasty
B-1. In Ep. 8, at around the 43:00 mark, Bong-hwan (Queen Cheorin) remembers what he learned in history classes about King Cheoljeong; among other things, he remembers that King Cheoljong’s “grandmother and aunt got killed by getting baptized.”
In Ep. 10, at around the 46:57 mark, the Royal Chef tells Queen Cheorin (Bong-hwan) that he lives alone because all of his family were killed in 1839. Queen Cheorin (Bong-hwan) then recalls that he was referring to the “Gihae Persecution.”
B-2. Some of the well-known persecution of Catholics during the Joseon Dynasty were the Sinyu Persecution of 1801, the Gihae Persecution of 1839, the Byeongo Persecution of 1846, and the Byeongin Persecution of 1866.
From “A Brief History of the Catholic Church in Korea” (WSJ) : “The Sinyu Persecution - In 1801, more than 300 people were killed as the ruling Joseon Dynasty, under newly ascended King Sunjo, staged a clampdown on the Catholic Church in Korea, ostensibly because the religion clashed with ideals of Neo-Confucianism and threatened the social hierarchical system. Yi Seung-hun was among those executed.”
From “Korean Catholicism marked by volatile history“ (Korean JoongAng Daily) : “Catholic believers suffered numerous rounds of persecution - the Sinhae Persecution (1791), the Sinyu Persecution (1801) and the Byeongin Persecution (1866) to name just a few - with about 10,000 missionaries and believers killed over a century.”
B-3. The only K-drama I’ve watched that depicted the persecution of Catholics during the Joseon Dynasty is “Yi San, A Wind in the Palace.” In Eps. 60-61, the brother of FL Sung Song-yeon and his fellow Catholics were blamed and arrested for an assassination attempt against King Jeongjo.
C. Ep. 8: Korean seesaw (“neolttwigi”)
In the early part of Ep. 8, Queen Cheorin and her attendant play on a “neolttwigi” (Korean seesaw).
2nd photo from National Geographic by W. Robert Moore, circa 1931
From Folkency: “Neolttwigi (lit. jumping on a board) refers to seesawing, a traditional entertainment practiced mainly by women during the Lunar New Year season. A large rectangular board is supported in its middle by a round hay bundle and two players take turns pushing hard on their end of the board with their feet in order to make the other end spring up.”
It is thought that Yangban women developed “neolttwigi” to see over the walls that surrounded their homes, as women in traditional Korea were rarely allowed out of their living compounds, except at night. (Wikipedia, citing Rodney P. Carlisle, Encyclopedia of Play in Today’s Society, Volume 1)
D. Ep. 12: Surit-nal (Dano Festival); ceremonial robes and head gear of Joseon kings
In Ep. 12, King Cheoljong presides over the Royal Banquet during the celebration of the Surit-nal (Dano Festival). His ceremonial robe is called “gujangbok,” while the head gear is called “myeonryugwan” (The Talking Cupboard) .
The robe and head gear were worn by the King and the Crown Prince during special events; with the head gear, the more the number of strings, the higher the rank. The jade object that he’s holding is called the “hol” (or “okgyu” depending on the type of jade used to make it.
E. Ep. 14: Ice was a valuable commodity during the Joseon Dynasty.
In Ep. 14, the Grand Queen Dowager tells Queen Cheorin (Bong-hwan) that ice is a valuable commodity in Joseon.
From “Summer on ice: How ice became an essential part of summer life in Korea” (Korea Herald):
During the Joseon era (1392-1910), ice was a national asset under the control of the king, and accordingly, a luxury for noblemen.
From “Keeping food cool, the ancient way” (Korea JoongAng Daily) : “Since the year 505, or the 6th year of King Jijung’s reign, until the arrival of freon and electricity centuries later, Koreans used stone bunkers to store blocks of ice throughout the year. These seokbinggo, literally “stone ice storage,” were located around the country. Local governments sometimes delivered ice to palaces, but mostly used ice as a means to prevent special local products from spoiling on the way to a palace.”
From “Feeling the heat: The luxury of ice” in Joseon (Korea Times) by Robert Neff:
The Korean government maintained two large ice storage facilities at Seobinggo and Dongbingo, where huge slabs of river ice (nearly two meters long and about 12.5 centimeters thick) were covered with straw and preserved throughout the year. Court officials and others who possessed “bingpae” ― an ice ration card ― were regularly able to obtain a certain amount of this valuable commodity (based on their rank) for their own use.
(1) “The Grand Heist” is a 2012 South Korean historical comedy film about a gang of 11 thieves who try to steal ice blocks from the royal storage, Seobingo, during the last years of the Joseon era.
(2) In Ep. 9 of “A Jewel in the Palace,” crisis hits as Lady Han falls sick and Jang Geum, with Keum Young, is left to prepare the food for the king and his entourage in the royal hunt. When the Head Eunuch tells Jang Geum and Keum Young that the king wants cold noodles, he asks them if they brought ice with them. (When I first saw this scene back in 2015, I thought, “What’s the big deal with ice?”)
(3) In Ep. 2 of “The Tale of Nokdu,” Yul Mu prepares for Dong Joo a dessert for breakfast. The gisaengs around him become awestruck after the package that his bodyguard brought turns out to be a small block of ice.
What Yul Mu prepared for Dong Joo is similar to “patbingsu” (“bingsu).” Bingsu was introduced to Korea during the Japanese colonial period, but according to “Snowy delights and variations on bingsu” (Korea Herald) , shaved ice treats existed even during the Joseon Dynasty.
This is a bit off-topic, but notice two things after Yul Mu’s bodyguard finishes chopping the ice into smaller pieces:
(a) Before sheathing his sword into the scabbard, the bodyguard makes a downward slash with his sword and with a quick wrist flick; he did this to get rid of the water that may create rust in his sword. A swordsman also does this after slashing an enemy; blood may also cause the sword to become rusty.
(4) In Ep. 7 of Mr. Sunshine, Ae-shin and her servant Haman enjoy “patbingsu” (“bingsu”) in the French bakery.
F. Ep. 14: Donghak (religion, movement, peasant revolution)
In Ep. 14, the ministers threaten King Cheoljeong that if he does not order the execution of Dam Hyang (the little girl who saved Queen Cheorin from being poisoned), they will consider him as a supporter of the “Donghak” religion and its followers.
Donghak (lit. “Eastern Learning”) was an academic movement in Korean Neo-Confucianism founded in 1860 by Choe Je-u. The Donghak movement arose as a reaction to seohak (“Western learning”), and called for a return to the “Way of Heaven.” While Donghak originated as a reform movement and revival of Confucian teachings, it gradually evolved into a religion known today as “Cheondoism” in Korea under the third patriarch.
Related resources: “Gov’t to commemorate Donghak Peasant Revolution for 1st time” ; “Korea celebrates 125th anniversary of Donghak Peasant Revolution in 1894 (2020)”
G. Ep. 16: Difference between “Jo” and “Jong” in the posthumous (temple) names of the Joseon kings; the Joseon kings’ royal portraits and dramas such as “Painter of the Wind” and “Saimdang”
G-1. In Ep. 16, during the Royal Portrait painting session, Queen Cheorin wonders about the difference between between “Jo” and “Jong” in the posthumous (temple) names of the Joseon kings. The subtitles say that “jo” is added to the name of a king who’s honored for doing something great; on the other hand, “jong” is added to the name of a king who’s honored for his virtue. Well, this is just one of two reasons for the difference.
The website “dramasROK” in its in-depth article cites Korean historian Sul Min Suk who gives two reasons for the difference:
(1) Relationship of the king to his predecessor:
“If the successor was the king’s son – or next in line to the throne – then that king was given a posthumous title ending in JONG.
(2) “The ending JO was given to the founder of the dynasty – Taejo – for great achievements establishing a new dynasty. And then his descendants were supposed to be named JONG. So in a way, the title JO could be considered superior to JONG. And from now on this was the case. JO was seen as a more elite title to JONG. It started with King Seonjo…”
Relevant discussions: Why was King Sejong named "Sejong" instead of "Sejo"? and “Rulers of the Joseon Dynasty and KDrama Interpretations”
G-2. The Joseon kings’ royal portraits and dramas such as “Painter of the Wind” and “Saimdang”
Only seven portraits of five Joseon kings remain today as the others were destroyed during the Korean War (1950-1953). These surviving portraits are those of King Sejong, King Yeongjo, King Jeongjo, King Cheoljong, King Gojong, and King Sunjong. You can view these portraits at the Royal Portrait Museum in Jeonju, Korea.
For a more detailed depiction of how the Joseon kings’ royal portraits were drawn according to strict standards, you can watch “Painter of the Wind” (2008; Eps. 10-11) and “Saimdang” (2017; Ep. 22).
H. Ep. 16: Secret Royal Investigators during the Joseon Dynasty; secret royal investigators as depicted in “100 Days My Prince” and “Under The Queen's Umbrella”
H-1. In Ep. 16, King Cheoljong sends his trusted man Hong as a secret royal investigator to the most corrupt place in south Joseon. In his confrontation with a nobleman in a gisaeng house, Hong displays his “mapae.”
From “Amhaeng-eosa - secret royal inspector in Joseon Kingdom”:
“They were undercover officials directly appointed by the king and were sent to local provinces to punish corrupt officials and comfort the sufferings of people while traveling incognito. The amhaeng-eosa system was one of the most excellent inspection systems in the world, the likes of which is very unique and hard to find in other countries.”
The book “Corea, The Hermit Kingdom” (1888) by William Elliott Griffis states several interesting things about the secret royal inspectors. They were called “The Messengers on the Dark Path,” and to prevent them from abusing their powers, they were secretly monitored by a “yashi” or “Night Messenger.” Griffis states:
“An E-sa, or commissioner, who is to be sent to a distant province to ascertain the popular feeling, or to report the conduct of certain officers, is also called ‘The Messenger on the Dark Path.’ He receives sealed orders from the king, which he must not open till beyond the city walls. Then, without even going to his own house, he must set out for his destination, the government providing his expenses. He bears the seal of his commission, a silver plate having the figure of a horse engraved on it. In some cases he has the power of life and death in his hands.
H-2. Secret royal inspectors as depicted in "100 Days My Prince" and "Under the Queen’s Umbrella":
In Ep. 7 of “100 Days My Prince,” a royal secret inspector (“Amhaengeosa”) saves Yul and Hong-shim from the corrupt magistrate and Master Park. Hong-shim previously recognized that the man sleeping in her father’s room was a royal secret inspector because he was holding a “yuchuk” (a brazen ruler that inspectors used for several purposes, including making sure that the measurement system for taxation was correctly followed).
In Eps. 8-10 of “Under The Queen's Umbrella, as part of the contest, the Grand Princes and the princes disguise themselves as “secret royal inspectors” (“amhaeng-eosa”) in pursuit of the assignments given by King Lee Ho. In some scenes, you can see the inspectors’ seal (badge) and tool: the “mapae” and the “yuchuk.”
I. Miscellaneous notes: Ep. 11: the fight with fans as weapons; “jangot” or head covering for noblewomen during the Joseon Dynasty ; the beautiful bridge across the pond in Ep. 1 and other episodes
I-1. Ep. 11: During the festival, King Cheoljoeong and Kim Byeong-in fight using fans as requested by the Grand Queen Dowager. While they’re using ordinary fans, there’s actually a martial art system using a fan as a weapon.
From Wikipedia: Tessenjutsu (Japanese; lit. “iron fan technique”) is the martial art of the Japanese war fan (tessen). It is based on the use of the solid iron fan or the folding iron fan, which usually had eight or ten wood or iron ribs. The use of the war fan in combat is mentioned in early Japanese legends.
In Ep. 11 of “Saimdang,”Lee Gyeom fights off Min Chi-hyung’s men using his fan.
Related resources: War Fan Tessen Techniques and Why Samurai Carried and Fought with Fans Made of Metal
I-2. “Jangot” (alternative spelling ”changot”): similar to the outer jacket of a hanbok but with a collar and a ribbon for tying both sides; according to the principles of the Joseon Dynasty’s Confucianism, women were ordered not to show their face to men, so they would cover their faces in many ways while going out. (Wikipedia)
From “Veiling of Korean Women: The Neo-Confucian Influence in Comparison to the Veiling of Muslim Women” by Hye Ok Park (Claremont Graduate University, Department of History) :
Different types of veils
I-3. The beautiful bridge and pond shown below are used as the location for several scenes in “Mr. Queen”, starting with Ep. 1. This bridge is located in the Gungnamji Pond (Historic Site No. 135) in Seodong Park; it is Korea’s first artificial pond and was created by King Mu from the Baekje Dynasty. The bridge and pond have been used in other dramas such as “The Flower in Prison,” “The Joseon Gunman,” and “The Tale of Nokdu.”
(1) In digging up the historical and cultural backgrounders of the K-dramas that I watch, I rely on English language resources on the Internet. I don’t speak or read Korean, and so I can’t search through Naver. Those of you who read Korean or are more knowledgeable about Korean culture and history should correct whatever errors or omissions there may be in this discussion.
(2) Other discussions that I have posted on the historical and cultural backgrounders of K-historical dramas:
“Hotel Del Luna” (some cultural backgrounders for international viewers)
(3) This discussion is rather long and may be a bit boring for those of you who don't like history. If you got tired reading this discussion, you can energize yourself by listening to Band-Maid’s performances during their 2022 USA tour. Band-Maid is an all-female Japanese band that mixes genres such as rock (hard, progressive, punk), metal, pop, jazz, and blues. Listen for example to “Freedom" (anthem; watch out for the drum solo); “Daydreaming" (power ballad; watch out for the lead guitar solo); “Wonderland” (rock-jazz-blues).
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