[2017-07-02] Mining, Merchants, and Traders—Thailand’s Got the Bitcoin Fever

[elenabaltadzi]

Over the past year, the use of cryptocurrencies in Thailand has been growing significantly as there have been many reports of citizens catching the “bitcoin bug.”

Thailand’s Queen Sirikit Convention Center Fills With Cryptocurrency Mining Enthusiasts

On June 22 a large group of people gathered at a computer expo in Thailand to purchase computer components to mine cryptocurrencies. According to reports, there is a nationwide shortage of graphics processing units (GPU:s) due to Thailand residents mining digital assets like Ethereum and Zcash to trade for BTC. Veerachai Morprapaipan, the store owner who helped organize the expo at the Queen Sirikit Convention Center said there were so many people he lost track of how many customers attended.

One customer, Niratcha Sukyu states “I’m buying as many pieces as I can get my hands on.” The GPU vendor from Thailand details that many altcoins have increased in value and local miners are trading them for bitcoin. Veerachai’s booth ‘TH Miner’ got a lot of attention as the company sells complete GPU mining packages and other components. According to Veerachai one of his machines sold for 109,000 baht that day.

https://news.bitcoin.com/mining-merchants-traders-thailand-bitcoin-fever/

[BitPokerio]

ASIA = BTC = ASIA

[Netnox]

It won't be a bad idea to allow payments with Bitcoin in the massage parlors. But I heard that the tourism is down there, ever since the new king (Maha Vajiralongkorn) was coronated. He ordered most of the night clubs and pubs to close down. What is the point in visiting Thailand, if the nightclubs are not operating?

[iamTom123]

It won't be a bad idea to allow payments with Bitcoin in the massage parlors. But I heard that the tourism is down there, ever since the new king (Maha Vajiralongkorn) was coronated. He ordered most of the night clubs and pubs to close down. What is the point in visiting Thailand, if the nightclubs are not operating?

There is a boom in Bitcoin interest in Thailand and this is something that the present government and the royal family can exploit on. Yes, Thailand is really known for its red light district and frankly sex tourism is very alive in the country, but it has so many things it can offer. It got many nice places, nice foods and nice people known to be hospitable and peace-loving.

I am sure that the royal king has something in mind in discouraging more growth in the red light district...what are those things remain to be seen. I am more interested with the Bitcoin growth in Thailand as I am sure this country can also be a big contributor for the continuing expansion of the cryptocurrency.