Thailand Bans Bitcoin

[Betatester]

You will get more THB for your coins. Good for tourists.

[monkeybars]

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.

[Stn]

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.

[QuestionAuthority]

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.

[vokain]

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.

there will not be an official announcement, banks do not make laws.

..directly 

[AceCoin]

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).

[Stn]

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.

[vokain]

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

[AceCoin]

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?

[AceCoin]

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?

[Stn]

ok, so why this? https://bitcoin.co.th/en/
what does it means?

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.

[joesmoe2012]

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

[berenod]

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

[greyhawk]

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

[AceCoin]

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

LOL sell sell sell

[berenod]

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

http://i43.tinypic.com/34gsnpx.jpg

    

[kwukduck]

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!

[vokain]

why bother trying to accomplish anything when insects deep fried in MSG are already perfect...

stooooop 

[Foxpup]

why bother trying to accomplish anything when insects deep fried in MSG are already perfect...

Am I the only one here carnivorous enough to think that actually sounds kinda tasty?

[MrHempstock]

Can't wait until 'The Newsroom' covers BTC