Topic: Thailand Bans Bitcoin - page 2. (Read 9858 times)
And this is why the price keeps plummeting, smart people know this country is the first of many to ban bitcoin, people will be arrested and sued for even googling the word. they know they have to sell of now before it crashes to zero!
Me thinks journalism has just collapsed!
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
http://i43.tinypic.com/34gsnpx.jpg
Me thinks journalism has just collapsed!
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
LOL sell sell sell
Me thinks journalism has just collapsed!
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
So everybody ran with a story that a country made bitcoins totally illegal.
With as only single source a private website (newly created/registered just 7 weeks ago) from somebody/some company wanting to buy/sell bitcoins online in Thailand (with a horrific big spread of almost 20%, nice money spinner there).
No confirmation from the organization (Bank of Thailand) who supposedly has made bitcoins illegal, they are not commenting at all.
Yet virtually every website is openly posting Thailand officially and legally outlawed bitcoins. Including big names such as CNBC, Associated Press,...
Me thinks journalism has just collapsed!
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
With as only single source a private website (newly created/registered just 7 weeks ago) from somebody/some company wanting to buy/sell bitcoins online in Thailand (with a horrific big spread of almost 20%, nice money spinner there).
No confirmation from the organization (Bank of Thailand) who supposedly has made bitcoins illegal, they are not commenting at all.
Yet virtually every website is openly posting Thailand officially and legally outlawed bitcoins. Including big names such as CNBC, Associated Press,...
Me thinks journalism has just collapsed!
Heck, I think I'll just register a website, post on my blog that Heroin is now approved for medicinal purposes the world over after having had a meeting with the WHO, next thing we see is pretty much all news website confirming Heroin is now legal for medicinal purposes. No need to wait until the WHO confirms this, let alone governmental spokes persons. Cool
You will get more THB for your coins. Good for tourists.
Someone who truly understands the workings.
I've been selling locally via localbitcoins during my travels, much easier than paying ATM fees or exchange fees...each time you get in a new currency just sell some bitcoins
It means that internet thanks god is still free. Everyone can publish anything even stupid things.
By the way pay attention to the word "advisement" which is not "order", "decree", "regulation", "warrant" or whatsoever similar.
By the way pay attention to the word "advisement" which is not "order", "decree", "regulation", "warrant" or whatsoever similar.
yeah 95% of posters on the forum seemed to just fall for it. you were one of the few who asked for evidence.
so are illegal or not? if you trade in bitcoin they can arrest you?
No
ok, so why this? https://bitcoin.co.th/en/
what does it means?
yeah 95% of posters on the forum seemed to just fall for it. you were one of the few who asked for evidence.
so are illegal or not? if you trade in bitcoin they can arrest you?
there will not be an official announcement, banks do not make laws.
Central Bank can issue regulations which lay within its duty. Not that general of course like quoted in the "blurb". The matter is that there is not a single public official paper of the Bank of Thailand mentioning word Bitcoin. And I doubt it will appear in the near future.yes, one guy make a blog post, whole world media fails to ask for evidence... its a riot.
some of us did, but it's not quite satisfactory
there will not be an official announcement, banks do not make laws.
Central Bank can issue regulations which lay within its duty. Not that general of course like quoted in the "blurb". The matter is that there is not a single public official paper of the Bank of Thailand mentioning word Bitcoin. And I doubt it will appear in the near future. there will not be an official announcement, banks do not make laws.
No, banks not make laws, Government make laws for them (especially concerning economics).
By this time someone would already found and produced link to the official regulation of the Bank of Thailand. But none exists apart that blog entry where guy quoted personal remark he heard from a bank official in lobby.
Why do you vapor this groundless matter? At least wait until official announcement.
Why do you vapor this groundless matter? At least wait until official announcement.
there will not be an official announcement, banks do not make laws.
..directly
When I first read this I couldn't believe it! Thailand has laws! Tell that to to the people in Soi Cowboy, Patpong or Silom Soi. Last time I was there some kid tried to sell me a full auto AK47 out of a crate with dozens of them in it on a side street. The kid said, "very good quality - from Cambodia". I told him that I didn't think it would fit in my carry-on bag.
By this time someone would already found and produced link to the official regulation of the Bank of Thailand. But none exists apart that blog entry where guy quoted personal remark he heard from a bank official in lobby.
Why do you vapor this groundless matter? At least wait until official announcement.
Why do you vapor this groundless matter? At least wait until official announcement.
The real information to be gleaned from this story is, the Bitcoin world is a news echochamber.
The small industry and group of humans following its vicissitudes is starved for information about it, and an unsubstantiated report from an unverified individual about spoken, not written or publicized, statements by one of many regulatory bodies in a medium-small country causes a furore. That's the story I got from this.
If a gov't genuinely outlaws a cryptocurrency, expect the exchange rate to fall.
Governments are very big -- the bigger the country, the bigger the government. They move slowly. Individuals move quickly. By the time the authorities realize that they've already lost the game, it'll be too late.
The small industry and group of humans following its vicissitudes is starved for information about it, and an unsubstantiated report from an unverified individual about spoken, not written or publicized, statements by one of many regulatory bodies in a medium-small country causes a furore. That's the story I got from this.
If a gov't genuinely outlaws a cryptocurrency, expect the exchange rate to fall.
Governments are very big -- the bigger the country, the bigger the government. They move slowly. Individuals move quickly. By the time the authorities realize that they've already lost the game, it'll be too late.
You will get more THB for your coins. Good for tourists.
although i believe the current news is blown out of proportion i say "Bring it on!" - see how bitcoin routes around barriers and obstacles.
the more Bitcoin gets stressed from many different angles, the more resilient it will get, else there is no point.
the more Bitcoin gets stressed from many different angles, the more resilient it will get, else there is no point.
Until there are logical reasons to make Bitcoin illegal, then it is irrational. They fear Bitcoin now, but their greed will overcome the fear in the fulness of time.
joke all you want, but this is not good news.
thailand as a country and their currency tbh are irrelevant in term of bitcoin market so it's not a big deal but this sets a very bad precedences.
The bottomline is bitcoin at this stage is stillheavily 100% dependent on fiat money. You take away the ability to convert from bitcoin to the primary fiat currencies such as usd/euro and vice versa using a trusted exchange such as mtgox and it will be back to the stone ages for bitcoins...
For example if us/european government banned bitcoins, it means mtgox(or any legit exchange) cannot accept any wires in and out from their banks or allow their citizens to trade on mtgox as that would be breaking the law. Bitcoin will die, or at min go back to $5 a coin obscurity.
The reason bitcoin is so popular now is not because it's p2p noone can stop it, it's because there are legit exchanges that allow conversion to and from fiat. mtgox has come a long way and finally able to legalize and stabilize their platform.
If mtgox shuts down tomorrow see what happens to the bitcoin prices. Some of you are living in fantasy land holding on this p2p notion as some sort of lock on price..
thailand as a country and their currency tbh are irrelevant in term of bitcoin market so it's not a big deal but this sets a very bad precedences.
The bottomline is bitcoin at this stage is still
For example if us/european government banned bitcoins, it means mtgox(or any legit exchange) cannot accept any wires in and out from their banks or allow their citizens to trade on mtgox as that would be breaking the law. Bitcoin will die, or at min go back to $5 a coin obscurity.
The reason bitcoin is so popular now is not because it's p2p noone can stop it, it's because there are legit exchanges that allow conversion to and from fiat. mtgox has come a long way and finally able to legalize and stabilize their platform.
If mtgox shuts down tomorrow see what happens to the bitcoin prices. Some of you are living in fantasy land holding on this p2p notion as some sort of lock on price..
Yes wise words and I agree with everything you said. If Thailand makes it illegal to buy and sell bitcoin, then any other country can as well...including the USA and EU, etc.
And if you think that is absurd, just remember how many other perfectly morally acceptable activities are illegal...and prisons are filled with people who break those "bogus" laws.
Jump to: