Thailand Approves Fully-Legal Bitcoin Exchange

Este Nuno

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amarha

Quote from: Erdogan on July 17, 2014, 01:18:43 PM

Quote from: Este Nuno on July 15, 2014, 03:56:40 AM

Quote from: dlzc on July 15, 2014, 01:58:48 AM

I agree you said. But Thailand's economy is not so good, I think it has a little difficult

Really? Why do you say that? The Thai economy is actually quite good and quite robust as far as I can tell.

They had this damning price fixing of rice to a high level. Lots of rice destroyed in storage, and the government could eventually not pay out the farmers. If this story has ended now, please tell us.

Yes, it's over now. The Army immediately paid out all the farmers out of public funds. Thankfully that whole situation is over with for the most part. Just cleaning up the damage that was done.

That was probably one of the worst policies I've ever heard of.

Erdogan

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Quote from: Este Nuno on July 15, 2014, 03:56:40 AM

Quote from: dlzc on July 15, 2014, 01:58:48 AM

I agree you said. But Thailand's economy is not so good, I think it has a little difficult

Really? Why do you say that? The Thai economy is actually quite good and quite robust as far as I can tell.

They had this damning price fixing of rice to a high level. Lots of rice destroyed in storage, and the government could eventually not pay out the farmers. If this story has ended now, please tell us.

Guido

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when bar fines can be paid in crypto, it has arrived Grin

Este Nuno

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amarha

Quote from: dlzc on July 15, 2014, 01:58:48 AM

I agree you said. But Thailand's economy is not so good, I think it has a little difficult

Really? Why do you say that? The Thai economy is actually quite good and quite robust as far as I can tell.

dlzc

full member

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I agree you said. But Thailand's economy is not so good, I think it has a little difficult

Quote from: seriouscoin on July 13, 2014, 01:14:55 PM

Thailand really should embrace BTC as it suit their economical model perfectly.

titulng

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HubrisOne

Bluff, China said it is legitimate too, and then?

jjc326

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Quote from: minerpumpkin on July 14, 2014, 01:22:57 PM

Quote from: EFFV on July 14, 2014, 12:47:44 PM

Quote from: jjc326 on July 13, 2014, 09:52:36 AM

I really wish we had something like this in the US, something that was very simple. I'd love to be able to have my bank account $ transferred into BTC just by doing 1 click, and being able to trade it back into fiat just as easily. I think there's a huge market there, if someone could figure out all the legal red tape.

haha. If it was this easy I would not have any USD left. ....oh wait I already don't.

Which really is - at this point - a hell of a lot risk. Never go full BTC

But I guess you contemplated the risks/rewards, I just remind you that it's pretty risky...

People who are in full BTC, I do appreciate that they are "making a stand" and acting on their principles, or taking a big risk to try to get a big reward...but on the other hand I think they must not have a family they have depending on them. I think it's totally irresponsible to be full BTC if you have people depending on you because there is a chance BTC would go back to $1, or worse.

minerpumpkin

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A pumpkin mines 27 hours a night

Quote from: EFFV on July 14, 2014, 12:47:44 PM

Quote from: jjc326 on July 13, 2014, 09:52:36 AM

I really wish we had something like this in the US, something that was very simple. I'd love to be able to have my bank account $ transferred into BTC just by doing 1 click, and being able to trade it back into fiat just as easily. I think there's a huge market there, if someone could figure out all the legal red tape.

haha. If it was this easy I would not have any USD left. ....oh wait I already don't.

Which really is - at this point - a hell of a lot risk. Never go full BTC

But I guess you contemplated the risks/rewards, I just remind you that it's pretty risky...

EFFV

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Quote from: jjc326 on July 13, 2014, 09:52:36 AM

I really wish we had something like this in the US, something that was very simple. I'd love to be able to have my bank account $ transferred into BTC just by doing 1 click, and being able to trade it back into fiat just as easily. I think there's a huge market there, if someone could figure out all the legal red tape.

haha. If it was this easy I would not have any USD left. ....oh wait I already don't.

emeraldforce

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Thailand MOON! Go Thailand Go!

LiteCoinGuy

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In Satoshi I Trust

Quote from: dadugan on July 14, 2014, 03:28:29 AM

Quote from: annoyingorange on July 14, 2014, 03:24:01 AM

I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.

Thought bitcoin was banned in Thailand last year.

actually bitcoin is banned NOWHERE.

RepublicSpace

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Quote from: ipnone5only on July 14, 2014, 04:02:21 AM

I wouldn't say this is huge, but it's definitely big when a central bank reverses their position towards Bitcoin. I could see China and Russia do the same now.

I've always been of the opinion that central banks, as a monolithic entity, are no different than a day trader on gox.

They are human beings and subject, in aggregate, to the same conflicting emotions, ie panic/fear/capitulation, that traders are susceptible to in figuring out this Bitcoin thang.

That's how powerful it is.

Este Nuno

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amarha

Quote from: dadugan on July 14, 2014, 03:28:29 AM

Quote from: annoyingorange on July 14, 2014, 03:24:01 AM

I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.

Thought bitcoin was banned in Thailand last year.

No, the Bank of Thailand reviewed their stance on Bitcoin and clarified it. And now there are two exchanges operating legally in Thailand.

ipnone5only

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I wouldn't say this is huge, but it's definitely big when a central bank reverses their position towards Bitcoin. I could see China and Russia do the same now.

sugarfree

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Quote from: annoyingorange on July 14, 2014, 03:36:55 AM

Quote from: sugarfree on July 14, 2014, 03:32:08 AM

Can you list any bars restaurants or other shops who accept Bitcoin in Thailand? I only see a couple of hotels in the south on coinmap.org.

Unfortunately there really aren't any. I'm going to be working on changing that over the next couple of months here. I'll report back when I make some progress!

Okay, good luck with it

annoyingorange

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Quote from: sugarfree on July 14, 2014, 03:38:26 AM

But it IS illegal to send Bintcoins from/to Thailand out of another country? That what i have heard/read, but all i'm reading now is about the exchange.

Absolutely not. There was never a single law passed in Thailand concerning Bitcoin. All of this stemmed from what one dude at the Ministry of Finance said a long time ago and it being misrepresented as law. They aren't even capable of making laws, they just enforce already existing ones.

sugarfree

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Quote from: annoyingorange on July 14, 2014, 03:24:01 AM

I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.

But it IS illegal to send Bintcoins from/to Thailand out of another country? That what i have heard/read, but all i'm reading now is about the exchange.

annoyingorange

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Quote from: sugarfree on July 14, 2014, 03:32:08 AM

Can you list any bars restaurants or other shops who accept Bitcoin in Thailand? I only see a couple of hotels in the south on coinmap.org.

Unfortunately there really aren't any. I'm going to be working on changing that over the next couple of months here. I'll report back when I make some progress!

sugarfree

member

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Quote from: annoyingorange on July 14, 2014, 03:24:01 AM

I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.

Can you list any bars restaurants or other shops who accept Bitcoin in Thailand? I only see a couple of hotels in the south on coinmap.org.

dadugan

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Quote from: annoyingorange on July 14, 2014, 03:24:01 AM

I lived in Thailand and BTC was never really banned. There have been other exchanges, namely BahtCoin running uninterrupted for quite some time. With that said, this is a much better exchange and I'm glad it's back.

Thought bitcoin was banned in Thailand last year.

Topic: Thailand Approves Fully-Legal Bitcoin Exchange (Read 2225 times)