webfact Posted March 28, 2021 Share Posted March 28, 2021 The photo, taken in January 2020, shows a physical imitation of a Bitcoin in Dortmund, western Germany. (Photo by INA FASSBENDER / AFP) By Thai PBS World’s Business Desk As more people and businesses invest in digital currencies, the Bank of Thailand (BOT) faces the delicate task of trying to balance financial stability and investor protection on the one hand while promoting innovation in financial services on the other. Determined to push ahead, the BOT began piloting its own prototype digital currency scheme last year. What is money? A national currency, like the baht, has three functions in an economy: the medium of exchange, unit of account and store of value. Digital currencies, in contrast, fail to fully meet these three functions, largely because their price is so volatile. Full story: https://www.thaipbsworld.com/the-rewards-and-risks-of-thailands-big-bet-on-cryptocurrency/ -- © Copyright Thai PBS 2021-03-29 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted March 28, 2021 Popular Post Share Posted March 28, 2021 1 hour ago, webfact said: Bank of Thailand (BOT) faces the delicate task of trying to balance financial stability and investor protection on the one hand while promoting innovation in financial services on the other. Investors don't need protecting, what they're talking about is restrictions to prevent people using it. They're protecting you 'for your own good' lol, they're terrified of what's coming as they can't control it. 5 Link to comment Share on other sites More sharing options...
Popular Post rwill Posted March 29, 2021 Popular Post Share Posted March 29, 2021 It's a good thing fiat currency never changes in value... 3 3 Link to comment Share on other sites More sharing options...
Sharp Posted March 29, 2021 Share Posted March 29, 2021 1 hour ago, rwill said: It's a good thing fiat currency never changes in value... Haha yeah most people don't understand fiat currency is losing its value every year but doesn't seem to be an issue.. INFLATION anybody!! 1 1 Link to comment Share on other sites More sharing options...
chilli42 Posted March 29, 2021 Share Posted March 29, 2021 Thai Central Bank crypto backed by their own fiat currency. It seems to be the perfect product ... if you are a central banker. It’s just that it has no reason for existing amongst those who invest in and use crypto Link to comment Share on other sites More sharing options...
ctxa Posted March 29, 2021 Share Posted March 29, 2021 11 hours ago, webfact said: investor protection Yeah, I don't think 'investor protection' matters to anyone investing in Crypto. If you need 'investor protection' to invest in crypto, then stay away, crypto is not for you and you might lose more than you will earn with cryptos! 1 Link to comment Share on other sites More sharing options...
khunPer Posted March 29, 2021 Share Posted March 29, 2021 The high gain for Bitcoins might be too late now. Predictions have been that the value will go up to $300,000, i.e. about five times the rate by now, and then fall back to stabilize around $30,000. Even the $500,000 prediction for 2030 is not that amazing. A double up, or four time up, over some few years can be achieved in several kind of probably more stable investments like the right picks from stock market; Tesla-stocks went up 695 percent in 2020. Taking a small risk in Bitcoin, say $1,000, won't gain anything that really matters, even you get $5,000 back after some years, or $9,000 nine year after, it won't make you instantly rich. It was, in the always unbearable bright light of hindsigt, more interesting to risk just $100 when you could buy one Bitcoin for $1 in 2011, or even $100 in 2013 – that was already 100 times up in about two years – a minor affordable 2011-investment of just $100 would be worth in the area $5,600,000 today; not nice to think about what $1,000 could have been...???? However, always look at the bright side of life, if I had invested $100, or even $1,000, back then in 2011 to 2013, I would probably have sold most of it, or all, long time ago with some minor gains compared to later value, so same-same but different...???? 1 Link to comment Share on other sites More sharing options...
Pilotman Posted March 29, 2021 Share Posted March 29, 2021 The infamous 'South Sea Bubble' comes to mind here. 1 Link to comment Share on other sites More sharing options...
ukrules Posted March 29, 2021 Share Posted March 29, 2021 1 hour ago, Pilotman said: The infamous 'South Sea Bubble' comes to mind here. How many times did that crash down and then recover and go on to form new highs over say a 10 year period? It's the multiple recoveries and subsequent new highs which make all talk of bubbles largely irrelevant. Link to comment Share on other sites More sharing options...
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