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Thailand's Crypto-to-Baht Scheme Set to Boost Tourist Spending

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Just saw another pink Elephant flying across the sky 555

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  • wensiensheng
    wensiensheng

    I can see why, for some, they would want to spend crypto instead of hard cash, but why on earth would it boost spending? One replaces the other.    And why by 10%? How do they justify that spec

  • The queues will be unmanageable, get in line early!  You might get a  few delays when the tech has to keep rebooting the pirate copy of Windows 96 that the machines will be running on,  and imagine th

  • I'll wait for the first "scam" report

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Just make sure your crypto has no creases or markings on it.   Has to be crisp and clean straight from a Russian server or laundry machine....or you ain't getting no Baht cash.

Looks like they are using LightNet’s token $VELO protocol, developed by XRP & Stellar’s founder Jed MacCaleb. $VELO should be the token behind the scene sandbox by Thai Government. 

IMG_3484.png

23 hours ago, Yumthai said:

You may decide to not own bitcoin but you should be aware and prepared that you will have to use (or already using without your knowledge) blockchain technology and crypto sooner rather than later.

BS. Sooner or later it will collapse once all the scammers have made enough money (see Mr Trump)

5 hours ago, ThreeCardMonte said:

Not seeing it .

Time to change your glasses.

On 8/19/2025 at 3:16 AM, Yumthai said:

Money launderers certainly do not want to KYC.
All "tourists" do not have a bunch of fake IDs or nominees ready.

together with the requirement of ALL citizens to file tax returns, this will be 'interesting' (it's a very strong government measure to strong-arm / blackmail their citizens into paying taxes).
 

Theoretically, all loopholes would be closed - who would want to be 'nominee' or offer his ID card for someone else's KYC if he would have to file a tax form for it? 

45 minutes ago, pepi2005 said:

Theoretically, all loopholes would be closed - who would want to be 'nominee' or offer his ID card for someone else's KYC if he would have to file a tax form for it? 

You're underestimating the power of money.

6 hours ago, AndrewAndrew said:

Looks like they are using LightNet’s token $VELO protocol, developed by XRP & Stellar’s founder Jed MacCaleb. $VELO should be the token behind the scene sandbox by Thai Government. 

IMG_3484.png

XRP was used by SCB a few years ago.

If you have crypto, then why would you give all your info to the Thai government for little reason, so they know everything about you? The whole point of crypto is anonymity... why would you do what they want here? No reason at all... just data harvesting and getting infoo for later use.

On 8/19/2025 at 3:14 AM, Will B Good said:

 

Like that guy in the Netherlands.......sold his house, sold his car, moved his wife and kids into a caravan......put the whole lot into bitcoin.......it promptly crashed......BUT.....if he has hung on so far he might well be a millionaire.

 

So go for it.

I bought $10,000 of BTC in 2016 hung on to it, forgot about it....one day, not long ago, woke up a millionaire. So what, I still earn and spend toilet paper fiat. 😁

7 hours ago, Reddavy said:

BS. Sooner or later it will collapse once all the scammers have made enough money (see Mr Trump)

It's been said that anyone over 40yrs.old can't understand BTC. However,It doesn't take much common-sense to see through the popular crypto-currencies....BUT, it does take some study to understand that Bitcoin IS NOT in the same boat as those Ship-coins.

On 8/24/2025 at 8:41 AM, Yumthai said:

The whole global banking and financial system is progressively pivoting to blockchain technology/crypto assets. Wake up.

In France people can still use cheques to pay for groceries at the supermarket and for utility bills.

 

Some small parts of the banking system are pivoting a little more slowly than others 😆

15 hours ago, LetsGoJoe said:

It's been said that anyone over 40yrs.old can't understand BTC. However,It doesn't take much common-sense to see through the popular crypto-currencies....BUT, it does take some study to understand that Bitcoin IS NOT in the same boat as those Ship-coins.

ADA and XRP are going to x5 or this year, BTC isn’t.

On 8/19/2025 at 10:14 AM, Will B Good said:

 

Like that guy in the Netherlands.......sold his house, sold his car, moved his wife and kids into a caravan......put the whole lot into bitcoin.......it promptly crashed......BUT.....if he has hung on so far he might well be a millionaire.

 

So go for it.

When did it crash?

Could have bought 2 pizzas with 50,000 bitcoins 

🤣🤣🤣🤔🚀

Crypto bros will find this so stupid. Criminals already know how to wash their coins, Cambodia!

On 8/24/2025 at 1:42 PM, AndrewAndrew said:

Looks like they are using LightNet’s token $VELO protocol, developed by XRP & Stellar’s founder Jed MacCaleb. $VELO should be the token behind the scene sandbox by Thai Government. 

IMG_3484.png

Surprised it’s not OmiseGo, whose CEO worked in the World bank and is a cousin of a previous Finance minister, Korn Chatikavanij.

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