BuffaloRescue Posted December 19, 2013 Share Posted December 19, 2013 It seems to me, from various news articles i have read that "using bitcoin to purchase goods" "may" be illegal? Is it illegal to purchase bitcoin as an investment? (ie... not use it to purchase goods or services). If not illegal, anyone have any recent experiences with being able to transfer money to overseas bit coin exchanges. And if so, which ones? Any recommendation. I dont want to purchase from anyone based in Thailand as this could possibly be illegal. Id just like to wire money from my Thai account to overseas agent. Any ideas? Link to comment Share on other sites More sharing options...
Langsuan Man Posted December 20, 2013 Share Posted December 20, 2013 Since it is virtual currency seems to me that you would be dependent upon what the seller is willing to take for their Bitcoins. Find that out first then figure out the best method to "buy" them with Thai Baht Link to comment Share on other sites More sharing options...
CMSteve Posted December 20, 2013 Share Posted December 20, 2013 Most of the big exchanges don't accept THB directly. Will probably have to convert to some other currency first. If you still have an account outside Thailand, you can most probably use that. Otherwise, there are the local sellers that will accept THB or something else you can agree upon. Whatever you do, do it quickly. The most recent dip is quickly fading. Link to comment Share on other sites More sharing options...
brit1984 Posted December 20, 2013 Share Posted December 20, 2013 selling sex is illegal in thailand Link to comment Share on other sites More sharing options...
bartender100 Posted December 20, 2013 Share Posted December 20, 2013 Bitcions took a hammering yesterday lost 1/2 value or near to that http://www.economist.com/blogs/schumpeter/2013/12/bitcoins-collapse Link to comment Share on other sites More sharing options...
darrendsd Posted December 20, 2013 Share Posted December 20, 2013 selling sex is illegal in thailand And that is relevant to Bitcoin because.....? Link to comment Share on other sites More sharing options...
Tokay Posted December 20, 2013 Share Posted December 20, 2013 I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. Link to comment Share on other sites More sharing options...
Berkshire Posted December 21, 2013 Share Posted December 21, 2013 I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. From the article that the bartender dude posted, to wit: "The reason for the panic is that the Chinese state has stopped financial firms from dealing with Bitcoin exchanges, which makes it almost impossible for anyone in China to buy or sell Bitcoin for yuan." That sounds a lot like "banning." Are you ever correct about anything? Link to comment Share on other sites More sharing options...
brit1984 Posted December 21, 2013 Share Posted December 21, 2013 selling sex is illegal in thailand And that is relevant to Bitcoin because.....? because there are lots of laws in thailand that are not enforced just because bitcoins are illegal doesnt mean the police have the ability (or desire) to do anything about it Link to comment Share on other sites More sharing options...
Heng Posted December 22, 2013 Share Posted December 22, 2013 It also means they have one more thing to selectively enforce if you trip up. 1 Link to comment Share on other sites More sharing options...
farang000999 Posted December 22, 2013 Share Posted December 22, 2013 I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. The last thing in the world Thailand needs is another method of tax avoidance. Link to comment Share on other sites More sharing options...
Rama Posted December 23, 2013 Share Posted December 23, 2013 Not a currency, currency is a misnomer. It's a currency exchange similar to Western Union. The US is now clamping down heavily on Bitcoin exchanges making them do the same paperwork and reporting as other currency exchanges. Pursuing fraud and other things for those that don't comply. Currencies have Central Banks, etc, etc. It may survive, but the wild ride is over. Link to comment Share on other sites More sharing options...
BigSkip Posted December 23, 2013 Share Posted December 23, 2013 I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. From the article that the bartender dude posted, to wit: "The reason for the panic is that the Chinese state has stopped financial firms from dealing with Bitcoin exchanges, which makes it almost impossible for anyone in China to buy or sell Bitcoin for yuan." That sounds a lot like "banning." Are you ever correct about anything? lol Link to comment Share on other sites More sharing options...
thhMan Posted December 23, 2013 Share Posted December 23, 2013 I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. And who told you that Bitcoin is illegal in Thailand? I hope you not suggesting the post from the nutcase who couldnt manage his business properly, so told the world that bitcoin is illegal in Thailand. The same company that stated that they where told it was also illegal to SELL mining equipment... The same company to who now sells mining equipment, thus breaking the law that they had in actuality made up. The same law that is also not legal, unless banks can now create laws. Call them up like I did and ask them for the truth.... Their story will change after a few minutes on the phone... https://bitcoin.co.th/en/ As for China... Ask yourself one question... Why would any bank trade in Bitcoin when Bitcoins purpose is to destroy the banking infrastructure. Must feel bad to be a victim of bad reporting.... I see a LOT of victims in this post.... I have a bridge I am selling !!! Link to comment Share on other sites More sharing options...
CMSteve Posted December 24, 2013 Share Posted December 24, 2013 http://www.bangkokpost.com/business/news/362222/bitcoin-declared-illegal-in-thailand I believe Thailand is the only country in the world to ban Bitcoin. Can't say I'm surprised there. Growth and change is not something Thais are interested in. Not to mention, they can't manipulate it, so no interest. And who told you that Bitcoin is illegal in Thailand? I hope you not suggesting the post from the nutcase who couldnt manage his business properly, so told the world that bitcoin is illegal in Thailand. The same company that stated that they where told it was also illegal to SELL mining equipment... The same company to who now sells mining equipment, thus breaking the law that they had in actuality made up. The same law that is also not legal, unless banks can now create laws. Call them up like I did and ask them for the truth.... Their story will change after a few minutes on the phone... https://bitcoin.co.th/en/ As for China... Ask yourself one question... Why would any bank trade in Bitcoin when Bitcoins purpose is to destroy the banking infrastructure. Must feel bad to be a victim of bad reporting.... I see a LOT of victims in this post.... I have a bridge I am selling !!! Link to comment Share on other sites More sharing options...
Neeranam Posted May 19, 2022 Share Posted May 19, 2022 On 12/20/2013 at 1:40 PM, bartender100 said: Bitcions took a hammering yesterday lost 1/2 value or near to that http://www.economist.com/blogs/schumpeter/2013/12/bitcoins-collapse Nice to see that nowadays Bitcoin doesn't fall from $1200 to $500 in a day like the collapse in 2013. If you are a new investor, this is what BTC does, just HODL for no more than 500 days and you'll be well in profit. Link to comment Share on other sites More sharing options...
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