The Bitcoin Currency In Thailand

[Annonymous]

Hey there,

Does anyone of you use the Bitcoin currency in Thailand? either to passe money from aboard (to avoid bank fees), or to try earning money from it through its always growing value (as of today 1 Bitcoin is worth about 150 USD), or any other use case?

If you're not familiar with Bitcoin, this is a very convenient currency, let me clarify what it is:

• It's a currency independent of any organisation/company/government/administration
• The total amount of Bitcoins available is limited to 21 millions Bitcoins, it is limited by design, luckily it is divisible indefinitely (milicoins, microcoins, etc.)
• Bitcoin is very safe and very secure if used properly (your Bitcoins stays in your virtual wallet on your own computer, if lost (deleted) or compromised (shared) then so is your money. Bitcoins cannot be stolen, and so is your virtual wallet if kept in a safe place like a USB drive unconnected from the internet). Most usual ATM scams are not possible with Bitcoin: once a payment is made it cannot be cancelled.
• You don't need to understand how it technically works in order to use it, but if interested and technically competent here you go.
• Like for any currency, you'll have to go through a Bitcoin Exchange to buy/sell Bitcoins, there are lots of them on the web and in the real physical world, even in Thailand and in person in Pattaya, just Google "bitcoin thailand" or "bitcoin pattaya" to find an exchange point nearby. I believe you get the best exchange rates on the web, which most of the case offer bank transfer method for whatever amount you want to buy or sell Bitcoins.
• You can use your Bitcoins to buy goods at any shop accepting Bitcoins, online or physical shops.

How about you? how do you make use of this currency?

[Jack Alderson]

Yea, I've only been living here a couple months, but I've been into bitcoin for a while. Love 'em. Great way to move money across borders

[sustento]

Tulips anyone???

[metisdead]

Topics currently running regarding Bitcoins:

http://www.thaivisa.com/forum/topic/633499-what-exactly-is-a-bitcoin-live-wire/

http://www.thaivisa.com/forum/topic/630864-bitcoins-in-thailand/?view=findpost&p=6309524&hl=%2Bbitcoins

Don't think we need another topic running regarding Bitcoins.

CLOSED