Bitcoins in Thailand

[speedtripler]

Does anyone use, mine or deal with bitcoins in Thailand?

I am interested in buying some if anyone selling btw

[rwdrwdrwd]

Easy to buy within Thailand from localbitcoins.com - just pick a trader with lots of transactions and 100% rating

Edited October 11, 2015 by rwdrwdrwd

[stoli]

I have studied them more than I like. Everyone has the same sales speech, word for word. I would never buy one, but for your info, the Pattaya Beer Garden accepts them for payment. Too many dealers have taken the money and ran.

[speedtripler]

I have studied them more than I like. Everyone has the same sales speech, word for word. I would never buy one, but for your info, the Pattaya Beer Garden accepts them for payment. Too many dealers have taken the money and ran.

I have studied them a lot too but with the global financial mess we are spiralling into I would like to hold onto some

Like silver or gold etc

I know the industry is currently unregulated so there is a lot of scammers taking advantage but I would rather buy them face to face than risk sending money to some foreign website (even if they have a good reputation like the ones in usa)

I read there are vending medicines in many countries already but probably take Thailand years to catch up to something like digital currency... While Singapore and hk I think already have them installed

[Pib]

Yes...buy some Bitcoins...and Gold too...both can't continue to go down forever.

Bitcoin Price

Gold Price

[Srikcir]

In terms of taxes, some governments will tax you on any gain from sale of bitcoins but not allow any loss.

Research before you leap.

[ChaangNoi]

localbitcoins is the way to go, they have escrow so no way to get screwed by a local dealer.

i understand why you want bitcoin as they keep printing fiat but dont forget that with bitcoin you can send wealth all around the world in seconds with almost no cost and no risk. it is really hard to move gold around the world in any volume. bitcoin will be one hell of a payment system one day.

[speedtripler]

Yes...buy some Bitcoins...and Gold too...both can't continue to go down forever.

Bitcoin Price

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Gold Price

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Well, it's either that or invest in something sensible like beer and sex but I like to diversify a bit ... And i think bitcoin is as "safe" as most other "investments" and likely make better returns as it grows...

Paper money is being printed and loaned at alarming rates in most countries now so only a matter of time before that house of cards comes down... If history has taught us anything.... It doesn't hurt to have a few alternatives and I think crypto currencies have a bright future...

[TheCruncher]

Yes...buy some Bitcoins...and Gold too...both can't continue to go down forever.

Bitcoin Price

CaptureBit.JPG

Gold Price

CaptureGold.JPG

Well, it's either that or invest in something sensible like beer and sex but I like to diversify a bit ... And i think bitcoin is as "safe" as most other "investments" and likely make better returns as it grows...

Paper money is being printed and loaned at alarming rates in most countries now so only a matter of time before that house of cards comes down... If history has taught us anything.... It doesn't hurt to have a few alternatives and I think crypto currencies have a bright future...

I'm not sure if I can agree with you about returns on Bitcoin in the past 14 months, if i watch the chart Pib posted.

[ChaangNoi]

https://coins.co.th/about

Have used them a few times to make payments, and buy coins for my wallet, no issues.

I would personally not use this site. He has had legal issues and I do not think he is operating in a legal way as a business. Local bitcoins if you don't want to get caught with your money in his hands when he gets shut down.

[ChaangNoi]

I'm not sure if I can agree with you about returns on Bitcoin in the past 14 months, if i watch the chart Pib posted.

What about the last 41 months?

[Langsuan Man]

Hey buddy, I have some really valuable Tulip bulbs that I want to off load, is there still a market for those ?

[Pib]

Don't worry, the Tulip Index will eventually recover...it's just it may take a couple more centuries.

[rwdrwdrwd]

Time will tell! I've certainly been using them more and more (and they are extremely convenient), and the price has been relatively stable for a year now.

Only really looks like the tulip chart if you ignore the fact that the price has not reverted to 0, and that the activity on bitcoin has been occurring for over 3 years, not 6 months.

Personally I think it's found it's current market value, and that over time this will increase.

Edited October 14, 2015 by rwdrwdrwd

[ChaangNoi]

All fiat money (US Dollar and Baht) has eventually gone to 0.

They might be right about the tulips always having a value. Some day their might be something better than Bitcoin but right now it is pretty awesome for some use cases.

Trusting bitcoin or govt debt, hmm...

[ChaangNoi]

I don't think you understand how coins.co.th works. I buy the bitcoins and have them transferred to my wallet. Then I make payment from my wallet. Thats it. No coins are held with coins.co.th, so there is nothing to "loose". Used them for a few transactions, and if they were operating illegally think they would have been shut down by now.

I know how it works. What I am saying is there is a risk that once you buy them, they are then not sent to your wallet. Why risk it with a guy who is operating in the way he is? Why not find a larger legal operation not run by one guy who can take the money and run or get raided?

Anyway your money but I'd not trust him with a satoshi or a single Baht.

[ChaangNoi]

I know the guy. He was the one who got the media to report bitcoins were illegal in Thailand. That was a lie and he has made himself a target. If Thailand ever goes after anything related to this, he is going to be target number one. Also why do guys run? Lots of different reasons. Some times they just run out of luck or want to go back to their home country. The guy is not Thai.

If you are okay to lose $600 go right ahead. I'm just telling others their are safer ways.

I have been in bitcoin since 2010, and I'm well aware of defamation in Thailand. The owner of that site knows who I am personally and he can bring all the charges he wants. I welcome it.

[ChaangNoi]

"managing director" is not a title an owner would give himself. Do some looking about the history of the legality of bitcoin in Thailand and you will find all you need. google or wikipedia is all you need.

If you can not understand my logic then like I have said before, just keep using his service but I would let others know their are other safer options.

Sigh... You really do not know what is going on and you try to talk as an authority on the subject. Anyone who wants to take legal action against me is okay to do so. I also highly welcome it from this specific company, I would love a chance to prove this in court.

We really can not move on at this point. You know nothing about this yet claim I am the one who is ignorant. I'm not going to reply to your posts. Like I said keep doing business with him if you want, personally I would not when their are better options.

[speedtripler]

Time will tell! I've certainly been using them more and more (and they are extremely convenient), and the price has been relatively stable for a year now.

Only really looks like the tulip chart if you ignore the fact that the price has not reverted to 0, and that the activity on bitcoin has been occurring for over 3 years, not 6 months.

Personally I think it's found it's current market value, and that over time this will increase.

Don't forget that the supply is fixed and we are 40 weeks away from the block reward halving... Even if current usage didn't rise and stayed exactly the same - the shortfall of available coins will make the rest more valuable/scarce

Also the new Gemini exchange from the winklevoss twins goes live tomorrow with full regulatory banking licences...

Interesting times....

[Heng]

Isn't btc still illegal here?

[ChaangNoi]

Isn't btc still illegal here?

No, bitcoin is not illegal here. That was passed around in the media and you can thank a specific farang that I suggest not working with here in Thailand for that.

Bitcoin is as illegal as gold or having US Dollars in Thailand.

Now operating a business with out a permit to sell and buy in Thailand??? That is a whole different question.

If you want to buy them I would personally go with localbitcoins.com as you can buy from some local person (not a company with a single shady farang owner) and they have escrow. Odds of your money being taken is almost 0 and will be held outside of Thailand until things or settled.

There are risky options in Thailand as well but the legality of using them is in question. Some people here "seam" to have been lucky so far with them.

[nsimmons]

At any time the USA could "legislate them out of existence" and make them illegal to take or trade in (in America). They have

confiscated gold before. Personally that is too huge a risk for me.

NS

[speedtripler]

At any time the USA could "legislate them out of existence" and make them illegal to take or trade in (in America). They have

confiscated gold before. Personally that is too huge a risk for me.

NS

They have confiscated people's safety deposit boxes before too... Very little things to invest in is 100% safe from every risk imaginable .... But btc are hard to confiscate and cost nothing to store and gaining infrastructure

[CrummyJuggler]

I have tried but failed to understand logic of bitcoins. Why does a btc have value? Someone told me that computers run algorithms to find prime numbers. Each new prime number found is a unique bit coin. If numbers are infinite, then prime numbers and btc are also infinite? Why would a btc go up in value if there is an infinite supply? How is that different from printing infinite amount of fiat currency?

I understand bitcoins for the dark web, but why would someone not trying to buy drugs or have someone murdered want to use bitcoins for everyday transactions?

Why would you think a virtual currency is safe from hackers? Obviously I have never purchased a bit coin.

[Shiver]

I've used a couple of the major exchanges without any issues..I've also used the help of a local friend if I needed baht quickly. There is a small premium on that, but it always completed in minutes (just a single confirmation). No issues whatsoever. For the exchanges, you need a copy of ID (eg passport) and a copy of a utility bill translated to English which can be sent by email.

I don't like leaving a sizeable amount of money or BTC on an exchange, so I just move it and exchange immediately, and anything else goes back to cold storage.

[james2m]

If you are going to trade bitcoin I'd say the only safe place to go is kraken they'll take a myriad of currencies, they've made it through some rigorous scrutiny in the last year having been appointed to manage the remaining assets from MtGox (the few assets that Mark Karples didn't steal (allegedly, cough). They're well managed, and have good security.

[ChaangNoi]

Just to answer some questions about Bitcoin. They are not unlimited. There will only be 21 Million of them ever made and this will happen around the year 2150. The reason why Bitcoin has value is that it is a unit of exchange. Humans have used heels, tobacco, government debt, and rocks like gold for money or as a unit of exchange.

Why is Bitcoin better (at least in some cases)? Bitcoin can not be taken by the government as it is online and p2p system. It can't be shut down. It also lets money move from place to place very cost effectively for almost no money. One can send 100 Million Baht worth to London, then to South Africa, and back again in less than 30 mins and with no fee. Also there is no way any government can stop it.

In the USA if you try to put $5,000 cash in the bank they call the FBI, with Bitcoin they don't even know. Bitcoin is perfect for buying things on the internet. Credit Cards suck and is 60 year old tech.

Bitcoin or at least the block chain is here to stay and is the future.

I like gold but how to move one kilo gram of it from one country to the next? Not easy at all. Same with cash.

Can the USA make Bitcoin illegal? sure, but that is not the path they have been taking. They have tried to regulate it and track it. Just about every branch of the government has said bitcoin is legal. SEC, IRS, FBI, FinCEN, State of NY, State of Cali, and about 20 more. Hell the US Government even sells bitcoin.

But yeah, it is a new tech and I would not go all in. However if you have some time I'd learn about it. It's awesome stuff.

BTW Bitcoin can be used to by Lamborghini's just see my photo!

[ChaangNoi]

If you are going to trade bitcoin I'd say the only safe place to go is kraken they'll take a myriad of currencies, they've made it through some rigorous scrutiny in the last year having been appointed to manage the remaining assets from MtGox (the few assets that Mark Karples didn't steal (allegedly, cough). They're well managed, and have good security.

Jesse is a cool guy but if one is in Thailand and is not an American localbitcoins.com might be a better option for many.

If American use Kraken sure.

[TheCruncher]

I wonder who is behind localbitcoins, since it is so vigorous promoted in this thread.

[MockingJay]

I have some Mocking Coins for you. In total worth about 5.500 USD. I'll transfer them over to you after receiving your money via paypal. Please send private message if interested...

Is this guy (the OP) for real? Do you people never learn? How can anyone be stupid enough to invest in any computer generated currencies, e-gold and similar digital s#It? How about taking a virtual shower utilizing your iphone? I think there's an app available for it... Perhaps that will help you to cool off and see things clearer!

Edited October 15, 2015 by MockingJay