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Stn
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July 30, 2013, 02:37:50 AM |
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It was just ruling regarding license application of one particular company. The licence was not granted to the said company due to fact that regulator doesn't know how to treat Bitcoin. That's all. All the generalization is just yellow press rumors.
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Littleshop
Legendary
 Offline
Activity: 1386
Merit: 1003
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July 30, 2013, 03:36:06 AM |
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If you have ever been to Bangkok Thailand I can not see being worried about getting approval for anything. Certainly people in Bangkok don't operate under rules that it is NOT ok unless the government says it is. The rules there seem more like anything goes unless there is an explicit rule against it AND the government is actually cracking down on it. |
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nameface
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July 30, 2013, 06:24:16 AM |
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It was just ruling regarding license application of one particular company. The licence was not granted to the said company due to fact that regulator doesn't know how to treat Bitcoin. That's all. All the generalization is just yellow press rumors.
Do you have a link to back up your statement? The blurb getting around says something different: " the following Bitcoin activities are illegal in Thailand: Buying Bitcoins Selling Bitcoins Buying any goods or services in exchange for Bitcoins Selling any goods or services for Bitcoins Sending Bitcoins to anyone located outside of Thailand Receiving Bitcoins from anyone located outside of Thailand" |
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nameface
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July 30, 2013, 06:30:22 AM |
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It'll be interesting to see the fallout if this banning is the real deal. A ban in one place could legitimize Bitcoin elsewhere. I just hope it doesn't spark some sort of Asian banning domino effect  Then again, something like that could wind up being good for Bitcoin too  |
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edmundedgar
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July 30, 2013, 06:51:58 AM |
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Very hard to know what this means without having been in the room when they were having the conversation. Maybe the guy just got sick of their stupid questions and figured telling them everything was illegal was the easiest way to make them go away so he could go and have his lunch. Either way I think people are putting too much weight on the interpretation of someone who doesn't know the difference between "insight" and "incite". https://bitcoin.co.th/trading-suspended-due-to-bank-of-thailand-advisement/ |
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Stn
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July 30, 2013, 08:04:58 AM |
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It was just ruling regarding license application of one particular company. The licence was not granted to the said company due to fact that regulator doesn't know how to treat Bitcoin. That's all. All the generalization is just yellow press rumors.
Do you have a link to back up your statement? The link is the same as the origin of your "blurb" https://bitcoin.co.th/trading-suspended-due-to-bank-of-thailand-advisement/Members of certain department assembled to make decision on someone's particular licence. At the conclusion of the meeting colloquially advised <blurb>. And: "The Bank of Thailand has said they will further consider the issue, but did not give any specific timeline." And: "Bitcoin Co. Ltd. has currency exchange applications currently pending review with the Bank of Thailand." What "further consider", what "pending review"? If it would be formally illegal then it should be full stop, isn't it? |
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ShadowOfHarbringer
Legendary
Offline
Activity: 1470
Merit: 1005
Bringing Legendary Har® to you since 1952
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July 30, 2013, 08:49:10 AM |
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This kind of blows.
Nope, no blows anymore. Unless you pay in cash. |
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_jacQues_
Newbie
Offline
Activity: 21
Merit: 0
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July 30, 2013, 09:35:31 AM |
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Facts: - Currently, there is no law in Thailand prohibiting the use of Bitcoin. - Currently, the statement that Bitcoin is illegal hasn't been in the news in Thailand itself. - Other Bitcoin sites, like www.bahtcoin.com, are still in operation. Source: - People I know personally who have lived in Thailand for over a decade now. The legality issue of Bitcoin is merely a point of view by one organization.This does not mean that Thailand won't pass a law to ban Bitcoin. Lust like with any other country, a new law can change everything. Also, if the royal family were to mention Bitcoin in a good or bad way, then that would automatically have an direct impact on the matter. jacQues |
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elor70
Member
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Activity: 84
Merit: 10
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July 30, 2013, 10:42:25 AM |
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its a third world country,i dont think anybody cares about them
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Hfleer
Sr. Member
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Activity: 448
Merit: 250
Changing avatars is currently not possible.
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July 30, 2013, 11:49:45 AM |
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Well no big loss I guess. BTC could actually be their official currency one day in the future.
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NamLaLai
Newbie
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Activity: 33
Merit: 0
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July 30, 2013, 12:29:30 PM |
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Well no big loss I guess. BTC could actually be their official currency one day in the future.
Yep... might have to fiddle around a bit with the sign for the baht, but not all too difficult with a pencil and an eraser. ;-) |
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pgbit
Sr. Member
Offline
Activity: 771
Merit: 258
Trident Protocol | Simple «buy-hold-earn» system!
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July 30, 2013, 12:50:39 PM |
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You can't fix stupid lol
that is ture. the media and many on this forum going crazy over what some troll running a suspected scam site said on a blog post with no evidence to back up his claims... media then reports it and whole world goes crazy. hang on though, an original source was from a bank? Is the troll here a national bank? |
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AceCoin
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July 30, 2013, 01:28:35 PM |
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usa friends...
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joesmoe2012
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July 30, 2013, 01:44:29 PM |
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usa friends...
i am a usa friend, but at least i am in thailand and know how things work here. The USA has no friends. |
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joesmoe2012
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July 30, 2013, 03:48:25 PM |
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Any further info here?
It's all FUD, some people who are in thailand have confirmed that the story just got out of hand. |
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newguy05
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July 30, 2013, 04:15:01 PM |
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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 still heavily 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..
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tclo
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July 30, 2013, 04:27:25 PM |
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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 still heavily 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..
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. |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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July 30, 2013, 04:46:45 PM |
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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.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Serge
Legendary
Offline
Activity: 1050
Merit: 1000
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July 30, 2013, 04:48:54 PM |
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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.
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