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Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 3:05 pm
by phuketrichard
will Cambodia follow>
can buy them and use funds in my thai bank.
https://coins.co.th/
Founded in 2014 by Silicon Valley entrepreneurs Ron Hose and Runar Petursson, Coins is Southeast Asia’s leading mobile blockchain-enabled platform that enables anyone, including those without bank accounts, to easily access financial services directly from their phone. Using Coins, customers have access to a mobile wallet and services such as remittances, air-time, bill payments, and online shopping at over 100,000 merchants who accept digital currency. Operating in the Philippines and Thailand, Coins' mission is to increase financial inclusion by delivering financial services directly to people through their mobile phones.
today
1 bitcoin.
Buy: 144,626.45 THB | Sell: 140,256.57 THB
1 bit=$4,338
Re: Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 5:20 pm
by tightenupvolume1
I reckon the bitcoin thing will go through a good few more years of boom and bust before it settles, i personally would not touch them at the moment, i predict lot of people will lose a lot of money
charlie
Re: Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 6:32 pm
by monomial
Due to the limited number of coins, there are only 2 places Bitcoin can eventually wind up. Either worth absolutely nothing or worth over $100,000 in today's dollars. It is simply unstable in any other regime.
Personally, I think it will go to zero because its usefulness is close to nil if it is ridiculously expensive. The cost of making a transaction today is already around $4, limiting it to only very large transactions. This will only get worse in the future, and therefore its divisibility is meaningless. It is either going to become a currency for the very rich to avoid taxes and launder money, or else it will collapse. Cheaper cryptocurrencies that use delegated proof of stake algorithms will eventually take over.
But there is still money to be made speculating on it in the mean time. I'm just not a gambler. Wish I was. I still remember the pizza that sold for 10,000 bitcoins years back. I thought it would never work back then. How wrong I was....
Re: Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 6:57 pm
by Username Taken
"its usefulness is close to nil if it is ridiculously expensive"
No need to buy a whole bitcoin. You can just 'invest' a few hundred or a thousand. Up to the individual how much.
You can try this: Either leave your thousand in the bank, or buy a thousand bucks of bitcoin. In twelve months, the money in the bank will be worth a little over a thousand. The bitcoin, on the other hand, 'might' follow it's previous trends and be worth more than two thousand (or more).
Re: Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 7:38 pm
by bangkokhooker
Username Taken wrote: ↑Sat Oct 07, 2017 6:57 pm
"its usefulness is close to nil if it is ridiculously expensive"
No need to buy a whole bitcoin. You can just 'invest' a few hundred or a thousand. Up to the individual how much.
You can try this: Either leave your thousand in the bank, or buy a thousand bucks of bitcoin. In twelve months, the money in the bank will be worth a little over a thousand. The bitcoin, on the other hand, 'might' follow it's previous trends and be worth more than two thousand (or more).
Or the money in your bank will be worth just over a thousand and the bitcoins will be worth zero.
Or put the money in an MFI and get a guaranteed 7%.
Or buy some tulips...
Re: Thailand made it simple to acquire Bitcoins
Posted: Sat Oct 07, 2017 9:38 pm
by monomial
Username Taken wrote: ↑Sat Oct 07, 2017 6:57 pm
"its usefulness is close to nil if it is ridiculously expensive"
No need to buy a whole bitcoin. You can just 'invest' a few hundred or a thousand. Up to the individual how much.
You can try this: Either leave your thousand in the bank, or buy a thousand bucks of bitcoin. In twelve months, the money in the bank will be worth a little over a thousand. The bitcoin, on the other hand, 'might' follow it's previous trends and be worth more than two thousand (or more).
When I talk about utility, I don't mean speculating on it. I already said that was still viable. What I mean is buying a pizza. As the price has risen, the cost of a transaction has gone from pennies to several dollars. Bitcoin is now too expensive to use in commerce. The divisibility of the currency is useless. You can't afford to transact a few Satoshi.
If Bitcoin continues rising, the transaction cost will get worse, making it usable in even fewer circumstances. In the end, it will either be used exlusively as a money laundering tool for the wealthy, or it will crash to zero. Speculators provide a market. They do not create utility.The currency has to have a purpose, and given the cost of transacting in it, if it doesn't find a home among the very wealthy it will collapse spectacularly.