Phuket Considered for New Cryptocurrency Hub to Boost Tourism

[NorthernRyland]

more hubs than you can shake a spoke at.

[bkk6060]

Boost tourism? The whole world is going there it is rated one of the most over tourist places in the world.  Doesn't matter their crypto dream will never happen.

[baansgr]

And what happens when it collapses and dies just like tulips...it's not even a good investment...I've earned over 500 % on RR shares in less than 2 years

[Cabradelmar]

In the LoS (land of scams) the government seemingly doesn't want to miss an opportunity to open up more avenues to grift tourist. I wouldn't trust any Thai government attempt at crypto (especially where Phuket "little Russia" is involved).

[ronster]

Great ! 

Even more stories of people getting kidnapped and assaulted to transfer thousands in crypto 🤣

[Nemo.]

5 hours ago, OneMoreFarang said:

Can someone please explain to me how to make a place a cryptocurrency hub? As far as I know the idea is that cryptocurrency works without borders. You can mine it anywhere, store it anywhere, use it anywhere.

If any business in Phuket or anywhere else in Thailand wants to accept cryptocurrency then I guess they can do that already. Or not?

 

So, what would be a cryptocurrency hub? Paying the hotel and the taxi and in the restaurant with cryptocurrency? How exiting.

And does everyone have to do that or is it optional? 

 

And would anybody who has a lot of cryptocurrency chose Phuket as a holiday destination only because it is a or the cryptocurrency hub?

 

What is the point?

My guesss is it will allow powerful locals launder money more easily.

[ignore it]

Perfect.

 

Ain't  Phuket already kind of a sandbox already

 

That's what the strife calls the place where the cats poo.

[TheFishman1]

Who is running this country TIT

[JulesMad]

6 hours ago, Thailand said:

How many tourists pay with Crypto?

Just the criminal ones

[hotchilli]

8 hours ago, webfact said:

Phuket may soon transform into a cryptocurrency haven as Thailand explores new ways to boost its tourism economy. Former Prime Minister Thaksin Shinawatra has proposed the island as the ideal location for a 'crypto sandbox', allowing visitors to freely utilise digital currencies like Bitcoin during their stay.

Former Prime Minister Thaksin Shinawatra has proposed

[OneMoreFarang]

1 hour ago, Nemo. said:

My guesss is it will allow powerful locals launder money more easily.

Sure, suddenly all the guest in some bars and restaurants will pay with crypto, and so many guests and such big bills... 

[Jiggo]

Crypto Russian Hub on the recommendation of a former criminal.

 

[Jiggo]

1 hour ago, TheFishman1 said:

Who is running this country TIT

A TIT more like

[John Drake]

buzzzzzzzwords

[Caldera]

Oh look, a new hub!

 

Can't wait to pay for my Pad Thai with bitcoin! How many confirmations will they require though, will the food be cold by the time the transaction is confirmed? And who will pay the fees?

[Muhendis]

Tomorrow's headline news

 

"Taxi driver finds bag containing 500 bitcoins left in his taxi by tourist and hands them in to police."

 

Each bitcoin is valued at 3,446,000 Baht

[zzzzz]

7 hours ago, thaibeachlovers said:

Try standing behind some old idiot at a supermarket checkout while they try to work out how to pay with a phone then. Far far more irritating. Some old people shouldn't be allowed out without a minder.

or behind many thai's
everywhere should have  a cash only checkout counter available 
 

[fvw53]

10 hours ago, OneMoreFarang said:

Never underestimate the stupidity of that guy.

When will he finally retire and play with his grandchildren, like he promised many many times?

Or just put him in jail.

Is there anybody out there who is not tired of that guy? 

I thought the only legal currency is the Thai Baht / will they vote a new law to accept cryptocurrency?

[Briggsy]

https://www.youtube.com/watch?v=qWQfsx9Fj3A

[geisha]

10 hours ago, OneMoreFarang said:

Never underestimate the stupidity of that guy.

When will he finally retire and play with his grandchildren, like he promised many many times?

Or just put him in jail.

Is there anybody out there who is not tired of that guy? 

You can call him anything, but certainly not stupid. He didn’t become a billionaire Before entering politics for nothing. He was a very successful  business man.      As for a Hub in Phuket, Hub of Con men comes to mind. 

[MangoKorat]

11 hours ago, webfact said:

With this proposed sandbox, Thailand aims to tweak traditional economic models and pave the way for groundbreaking digital drug transactions.

More likely.

[chilli42]

🤣

[OneMoreFarang]

48 minutes ago, geisha said:

You can call him anything, but certainly not stupid. He didn’t become a billionaire Before entering politics for nothing. He was a very successful  business man.      As for a Hub in Phuket, Hub of Con men comes to mind. 

 

I agree, in general he is not stupid.

But sometimes even smart guys have stupid ideas. This is one of those.

[PETERTHEEATER]

11 hours ago, ikke1959 said:

A new hub in the land of hubs.....  Better should be a hub for infrastructure for tourism and a hub for clean air

I haven't seen a 'hub' report for quite a while. I expect to see at leat two 'boost' reports in due course.

[Skeptic7]

11 hours ago, OneMoreFarang said:

Is there anybody out there who is not tired of that guy? 

Been over him since he was elected 24 years ago. 🤮 

[klaus80]

10 hours ago, KireB said:

Bitcoin is perfect to launder criminal money. No questions asked. 

Isn't every transaction of bitcoin recorded on the blockchain and therefore traceable by the cyber police?

https://time.com/6239364/crypto-criminals-andy-greenberg/

[NativeBob]

37 minutes ago, klaus80 said:

Isn't every transaction of bitcoin recorded on the blockchain and therefore traceable by the cyber police?

https://time.com/6239364/crypto-criminals-andy-greenberg/

blockchain transaction (with bitcoin in particular) is traceable by anybody. 

[PingRoundTheWorld]

🤣😂

Thanks, needed a laugh. Bitcoin is just a bubble of hopes and dreams that will come crashing down eventually once countries start cracking down on it's insane waste of energy and environmental impact. It has no practical use for people who aren't criminals or dreamers.

[Dr B]

10 hours ago, PomPolo said:

That's an old photo with BC at $9k its $105k today, also don't reckon this idea will do much to get Thailand off the US Treasury watch list!

 

I don't know anything about cryptocurrencies, but if 1 bitcoin is worth $105,000, how would I use it to but a beer, and how would I get my change? Thai Bt 3.5 million! Also, with regard to the OP, how many tourists are buying property?

[Dr B]

2 hours ago, geisha said:

You can call him anything, but certainly not stupid. He didn’t become a billionaire Before entering politics for nothing. He was a very successful  business man.      As for a Hub in Phuket, Hub of Con men comes to mind. 

Very successful businessman, by paying politicians and officials to allow him to obtain monopolies. In the end he tired of that, and decided to be a "politician" so that others would pay him. Just corruption whichever way you look at it, and not a good business model to be found anywhere.