Bitcoin tries to become a legal currency in Thailand, gets outlawed instead | TigerDroppings.com

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rickgrimes
LSU Fan
Member since Jan 2011
2999 posts

Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

Internet-only currency Bitcoin has just suffered a setback on its up-and-down journey to wider acceptance — the currency has just been banned by the Thailand government. That means that as of now, Bitcoins are not able to be sold, purchased, or used as currency in any purchase, nor can they be transferred in or out of the country. According to The Telegraph, that makes Thailand the first country to ban the currency outright. Somewhat ironically, this ban came as a result of local exchange Bitcoin Co. Ltd was working to legitimize the currency in Thailand. Previously, the country had ruled that Bitcoin was not a currency, which caused Bitcoin Co. Ltd to reach out to the government in an attempt to lawfully register and operate. As part of that due dilligence, the group working to legitimize Bitcoin had reached out to the Bank of Thailand for guidance and to acquire the proper licenses.

From there, the Bank of Thailand invited the Bitcoin team to a conference to further educate them on how the currency worked and what the benefits of Bitcoin are — after which the bank's foreign exchange administration and policy department voted to shut Thailand's Bitcoin exchange down.

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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

rickgrimes



the headline is sensationalistic and may not even be true.

discussions of the topic have indicated that this was just the advisement of central bankers and not a law that was passed. I'm not denying the claim, but I am hesitant to believe it without further details. there's a pretty long Reddit thread and bitcointalk.org thread on it if you're interested.


oh, and I thought you Louisiana folks might enjoy this:











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Lsut81
USA Fan
Member since Jun 2005
62807 posts
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re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

the headline is sensationalistic


Really? Bc that's exactly what the article states






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Chris Farley
Maryland Fan
Regulating
Member since Sep 2009
3632 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


An entire country banned bitcoins but at least David's in New Orleans accepts them!!





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79873 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

this was just the advisement of central bankers and not a law that was passed


And, of couse, your vast experience working with central banks makes you knowledgeable about what powers the senior members of the Foreign Exchange Administration and Policy Department of the Central Bank of Thailand have when it comes to decreeing what is and is not a legal currency within Thailand.






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Opus
New Orleans Saints Fan
Baton Rouge
Member since Jun 2004
787 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


Which is stronger: Wiki's love of bitcoin or his hatred of New Orleans?





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79873 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


He hates New Orleans?





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StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
13382 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


Did David make that sign? It looks like he spent many bitcoins on its design and graphics.





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29466 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


Given that bitcoins are generally exchanged online I will guess Thailand will have a hard time enforcing the use of bitcoins by most people.

That said, it will shut down this particular exchange.






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
11349 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead










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Opus
New Orleans Saints Fan
Baton Rouge
Member since Jun 2004
787 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

He hates New Orleans?

Let's just say his jimmies are rustled.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79873 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


Isn't he from Jefferson Parish? I seem to remember another poster referring to his JP roots.





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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


take this FWIW: Bitcoin is NOT illegal in Thailand






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LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
27440 posts

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


If you're using bitcoins at a shop in NOLA, doesn't it cease to be an anonymous transaction?





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notiger1997
Member since May 2009
21996 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

Isn't he from Jefferson Parish? I seem to remember another poster referring to his JP roots.


Either that or La Place. Some shithole.

When any subject on N.O. pops up on the O-T, he has a buzzer attached to him that goes off to let him know there is a thread to go shite in.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79873 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

or La Place. Some shithole.
If he's from LaPlace, that would explain a LOT.....






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
11349 posts
 Online 

re: Bitcoin tries to become a legal currency in Thailand, gets outlawed instead


quote:

If you're using bitcoins at a shop in NOLA, doesn't it cease to be an anonymous transaction?



Not if you wear a stealth cloak and cast a level 8 invisibility spell. But you have to roll 6's on consecutive turns.






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