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Thai central bank warns against using digital assets for payments


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2 minutes ago, ukrules said:

If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business.

 

Surely they realise this already?

So is it that cryptocurrency has evolved to such an inflated "value" that it supplants any "Coin of the Realm" in terms of trade thus aspects of applicable taxes?

Perhaps  "Equinocrypt" is worth registering?

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1 hour ago, Nojohndoe said:

So is it that cryptocurrency has evolved to such an inflated "value" that it supplants any "Coin of the Realm" in terms of trade thus aspects of applicable taxes?

Perhaps  "Equinocrypt" is worth registering?

They're fussing over nothing.

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TRANSLATION: bank of thailand does not know how to think for itself and will do whatever the big boys, uncle sam and china, will do.

not that it is a thai thing. the whole world is like that. the U.S. declare was on drugs (mainly kakanabis) and the whole world follows brainlessly.

next decade, U.S. declares kakanabis as medical and legal, and the whole worrld follows.

maybe next decade the U.S. will decide that fecet is good to eat and great way to rehabilitise the xeroklarification, and the whole world will follow.

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1 hour ago, SCOTT FITZGERSLD said:

next decade, U.S. declares kakanabis as medical and legal, and the whole worrld follows.

Quite possible, it's only illegal in most of the world due to US pressure during the mid 20th century, they went to great lengths and spent a lot of money convincing the entire world to make it illegal - now it looks like they changed their mind, lol

 

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Most still not practical to do for daily payments vrs lets say VISA due to time/cost of transfers. The bigger concern is probably controlling funds in and out of country

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6 hours ago, ukrules said:

If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business.

 

Surely they realise this already?

Forgive me , I nothing really about these cryptocurrencies , but just how would the Thai government get their pound of flesh in taxes from transactions - unless ALL crypto transactions done in Thailand are monitored for purchases, wages and payments, the tax collecting system could loses trillions of due tax and the government pots empty slowly.

 

 

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12 hours ago, ukrules said:

If I want paying for something in bags of steaming horse manure and somebody decides to pay what I want then it's none of the BOTs business.

 

Surely they realise this already?

Nah..

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Nothing special about Thailand saying this,  most officials are saying this worldwide as taxes, charges & excise the governments miss out on.

The whole bitcoin thing has got them a bit "baffled

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2 hours ago, GrandPapillon said:

fair warning, remember the poor guy who paid 2 pizzas for 75 BTC some 20 years ago? I think it came to 250m USD a pizza LOL

🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️

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On 7/9/2021 at 4:54 PM, GrandPapillon said:

fair warning, remember the poor guy who paid 2 pizzas for 75 BTC some 20 years ago? I think it came to 250m USD a pizza LOL

10,000 BTC for 2 pizzas in 2010, now worth 343 millions but about double that at all time high

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