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Bitcoin catches fire in Thailand
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Thai Authorities to Educate on Cryptocurrencies
James Levenson
December 29, 2017
With countries across Asia making moves to regulate and clamp down, few remain as beacons of freedom when it comes to cryptocurrencies. India, Russia, China, South Korea, Vietnam, and Indonesia have all issued restrictions on exchanges, but one unlikely country in Asia remains open: Thailand.
Thailand is a surprise as it is in the grips of a military dictatorship that does not look like it wants to return the country to democracy at any time in the future. With sweeping clampdowns on everything else across the nation, the military seems open towards crypto and are even planning on starting to educate the public about it.
Coin School
It was reported in the Bangkok PostNo RegulationThere is no central bank in the world that accepts Bitcoin, and central banks in the US and Japan are open to opportunities for virtual currencies to be used for payments if recipients are ready to accept them.
Warnings from central banks in Singapore and Japan have been issued in recent weeks, but there has been no new legislation there either. South KoreaRipple, Dash, and OmiseGO. According to Coinmarketcap, BX Thailand is the 56th most popular exchange globally, with $18 million traded in the past 24 hours.
Images courtesy of BX Thailand, Pexels, Pixabay, and Bitcoinist archives.
bitcoinist.com
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One of the dangers is that people without particular expertise in markets are investing a good percentage of their net worth in it, unaware of the high risk involved.
Of course not, that wasn't bitcoin, it was shares.
Whilst bitcoin isn't big enough to cause another depression, a lot of foolish people will lose their shirts.
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Originally posted by fred View PostDidn't this happen in the US just before the great depression?
Of course not, that wasn't bitcoin, it was shares.
Whilst bitcoin isn't big enough to cause another depression, a lot of foolish people will lose their shirts.
What the media doesn't tell is that Bitcoin is an entirely new paradigm for the financial world and government; an incorruptible globally distributed currency
Crooked banks and theiving politicians will go the way of the Dodo birds.
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Bitcoin is a highly secure military grade cryptography which resides on a globally distributed, decentralized network, untouchable by bankster or governments.
Bitcoin is a new animal, a global currency the world never seen before. A total game changer, it will be around for a very long time and will give financial security to billions of previously un-banked people all around the planet.
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Seems like nothing more than a get rich quick pyramid fad to me. Gambling on a notional value of electrons in a computer.
Something else smarter & more addictive will come along eventually, and like Facebook and MySpace before that, it will fade away.
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Ripple is going crazy right now, but just be ready to jump when the back of the rise happens, and it will, most likely in March or April. Ripple is not a real coin but for the banksters, who are very likely the ones pumping it up right now.
Just hanging on to BTC through 2018-19 is a no brain-er and no anxiety recipe. Though there will be much media FUD along the way. The fundamentals of BTC are very strong.
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Bitcoin has a fundamental problem. The main driver of its 2017 rise was attention - the more people noticed it, the more it rose, and then even more people noticed it. Global attention is finite, and unlike something like Facebook, it's not a revenue-generating business.
It's just a speculation game for the greedy, a virtual casino, created by someone manufacturing cybergold.Last edited by Exexpat; 01-04-2018, 02:37 PM.
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