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Started By
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Bitcoin tries to become a legal currency in Thailand, gets outlawed instead
Posted on 7/29/13 at 5:35 pm
Posted on 7/29/13 at 5:35 pm
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.
LINK
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Posted on 7/29/13 at 6:27 pm to rickgrimes
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:
Posted on 7/29/13 at 6:53 pm to WikiTiger
quote:
the headline is sensationalistic
Really? Bc that's exactly what the article states
Posted on 7/29/13 at 7:15 pm to WikiTiger
An entire country banned bitcoins but at least David's in New Orleans accepts them!!
Posted on 7/29/13 at 8:17 pm to WikiTiger
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.
Posted on 7/29/13 at 8:48 pm to WikiTiger
Which is stronger: Wiki's love of bitcoin or his hatred of New Orleans?
Posted on 7/29/13 at 8:52 pm to Opus
He hates New Orleans?
Posted on 7/29/13 at 9:25 pm to WikiTiger
Did David make that sign? It looks like he spent many bitcoins on its design and graphics.
Posted on 7/29/13 at 9:58 pm to rickgrimes
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.
That said, it will shut down this particular exchange.
Posted on 7/29/13 at 10:10 pm to foshizzle
Posted on 7/29/13 at 10:17 pm to LSURussian
quote:
He hates New Orleans?
Let's just say his jimmies are rustled.
Posted on 7/30/13 at 7:41 am to Opus
Isn't he from Jefferson Parish? I seem to remember another poster referring to his JP roots.
Posted on 8/1/13 at 2:49 pm to rickgrimes
take this FWIW: Bitcoin is NOT illegal in Thailand
Posted on 8/2/13 at 7:02 am to WikiTiger
If you're using bitcoins at a shop in NOLA, doesn't it cease to be an anonymous transaction?
Posted on 8/2/13 at 7:52 am to LSURussian
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.
Posted on 8/2/13 at 8:06 am to notiger1997
quote:If he's from LaPlace, that would explain a LOT.....
or La Place. Some shithole.
Posted on 8/2/13 at 8:24 am to LSUAlum2001
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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