• Thai central bank rules Bitcoin to be illegal
    95 replies, posted
[url]http://www.wired.co.uk/news/archive/2013-07/29/bitcoin-illegal-in-thailand[/url] [QUOTE]..a wide range of Bitcoin activities should be illegal. These include buying and selling bitcoins, selling or buying any goods or services in exchange for bitcoins, sending bitcoins abroad or receiving them from anyone located outside of Thailand. The ruling has led Bitcoin Co. Ltd to cease operations until Thai laws are updated.[/QUOTE] Thoughts?
Well, no shit, Bitcoins are by principle illegal in most countries based on laws already in place. It's just that they are mostly not considered worth the hassle dealing with them or not even really known.
eeeeh, aren't bitcoins mostly used by criminals for money laundring anyway? and deluded libertarians lol.
[QUOTE=Awesomecaek;41641560]Well, no shit, Bitcoins are by principle illegal in most countries based on laws already in place. It's just that they are mostly not considered worth the hassle dealing with them or not even really known.[/QUOTE] What principle is that?
[QUOTE=Wizards Court;41641568]eeeeh, aren't bitcoins mostly used by criminals for money laundring anyway? and deluded libertarians lol.[/QUOTE] Congratulations on stereotyping the Bitcoin community.
[QUOTE=Wizards Court;41641568]eeeeh, aren't bitcoins mostly used by criminals for money laundring anyway? and deluded libertarians lol.[/QUOTE] There is actually a large community of serious and law abiding investors.
Good luck trying to enforce it.
[QUOTE=wickedplayer494;41641575]Congratulations on stereotyping the Bitcoin community.[/QUOTE] its p much the only reason I use them so w/e
Bitcoin is basically a deflationary currency subject to shocks and is a pyramid scheme as well. Early adopters hold almost all of the bitcoins. The only reason people are investing into it is because they think other people will invest into it as well. This model is unsustainable. Unlike fiat money, there is no government with taxes to ensure the currency. Unlike the gold standard, there are no large stores of a valuable metal to ensure the currency. Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.
[QUOTE=Emperorconor;41641709]Bitcoin is basically a deflationary currency subject to shocks and is a pyramid scheme as well. Early adopters hold almost all of the bitcoins. The only reason people are investing into it is because they think other people will invest into it as well. This model is unsustainable. Unlike fiat money, there is no government with taxes to ensure the currency. Unlike the gold standard, there are no large stores of a valuable metal to ensure the currency. Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.[/QUOTE] Even after it's many collapses, people still invest in it. I believe it will continue like a bubble for some time.. Grow... Pop... Grow... Pop...
muh cryptocurrency
[QUOTE=Emperorconor;41641709]Bitcoin is basically a deflationary currency subject to shocks and is a pyramid scheme as well. Early adopters hold almost all of the bitcoins. The only reason people are investing into it is because they think other people will invest into it as well. This model is unsustainable. Unlike fiat money, there is no government with taxes to ensure the currency. Unlike the gold standard, there are no large stores of a valuable metal to ensure the currency. Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.[/QUOTE] US economy 101.
[QUOTE=wickedplayer494;41641575]Congratulations on stereotyping the Bitcoin community.[/QUOTE] i didn't generalize, but thats what the majority of bitcoin users tend to be, you should check bitcoin thread at something awful, for you get an idea.
[QUOTE=Wizards Court;41642136]i didn't generalize, but thats what the majority of bitcoin users tend to be, you should check bitcoin thread at something awful, for you get an idea.[/QUOTE] If you want to buy guns or drugs or other crazy shit from the internet, bitcoin is your best buddy.
Became illegal, price went higher lol.
[QUOTE=Emperorconor;41641709]Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.[/QUOTE] Bitcoin is backed up by the fact the number of bitcoins is finite.
[QUOTE=crazyjames;41642007]US economy 101.[/QUOTE] uh no, not really
[QUOTE=Emperorconor;41641709]Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.[/QUOTE] Bitcoins are backed with the promise that other people will accept them - just like dollars, euros, bottle caps, or cool looking rocks. As long as there's someone who will give you something for it, it's a currency
[QUOTE=Emperorconor;41641709] Bitcoin is literally backed up with the promise that the value of it will increase over time, and that it can be used to buy illegal goods.[/QUOTE] I don't think the developers promised that the value would increase over time however because there is a finite supply the value will increase over time as less becomes available as long as people continue to accept it as a form of currency.
[QUOTE=Emperorconor;41641709]Unlike the gold standard, there are no large stores of a valuable metal to ensure the currency.[/QUOTE] There are huge stores of bitcoin though. They exist in the future. It's like futures trading!
[QUOTE=cody8295;41641551][url]http://www.wired.co.uk/news/archive/2013-07/29/bitcoin-illegal-in-thailand[/url] Thoughts?[/QUOTE] The natural course of things. I've been telling people for ages that they're sadly delusional if they think Bitcoins will become some global super currency (which is what original investors are desperate for, else their "fortune" is worth shit to real world business and wealth). As if the Governments of the world and multi-billion dollar interests are going to just sit back and let an outside currency, supposedly controlled by "the people", take the place of Government controlled trade. I mean jesus christ the level of fantasy you have to be in to believe that is astounding.
Knowing the bitcoin community someone has already put positive spin on this as if it were a good thing
[QUOTE=Axznma;41642466]The natural course of things. I've been telling people for ages that they're sadly delusional if they think Bitcoins will become some global super currency (which is what original investors are desperate for, else their "fortune" is worth shit to real world business and wealth). As if the Governments of the world and multi-billion dollar interests are going to just sit back and let an outside currency, supposedly controlled by "the people", take the place of Government controlled trade. I mean jesus christ the level of fantasy you have to be in to believe that is astounding.[/QUOTE] [QUOTE=Wizards Court;41641568]eeeeh, aren't bitcoins mostly used by criminals for money laundring anyway? and deluded libertarians lol.[/QUOTE] [URL=http://forexmagnates.com/argentinas-bitcoin-interest-continues-buenos-aires-hosts-third-bitcoin-meetup-today/]Meanwhile[/URL], [URL=http://techcrunch.com/2013/07/16/bitcoin-transactions-rise-as-economic-unrest-hits-argentina/]in a country that's been destroyed by price control laws[/URL]. Human initiative, uh, finds a way.
Why we just all can't go back to gold.
Without even opening the article, I'd put my money on the reason they classed it as illegal is because they - meaning major banks/government bodies - have no superior means to control it.
Good. They realize it's a pyramid scheme.
Bitcoin was created to compete with the western corporate & banking oligarchy. However, both fiat currency and bitcoins will be rendered useless very soon. The world is about to be intentionally thrown into complete chaos. Out of the turmoil and ashes, the elite will present us with a new stable gold standard and a global bank. The world economy is about to be rebooted with a fresh global currency. We are actively being prepared for this through the media/entertainment industry. The idea of apocalypse and that gold have great value is now being planted within our minds.
[QUOTE=Tengil;41642683]Bitcoin was created to compete with the western corporate & banking oligarchy. However, both fiat currency and bitcoins will be rendered useless very soon. The world is about to be intentionally thrown into complete chaos. Out of the turmoil and ashes, the elite will present us with a new stable gold standard and a global bank. The world economy is about to be rebooted with a fresh global currency. We are actively being prepared for this through the media/entertainment industry. The idea of apocalypse and that gold have great value is now being planted within our minds.[/QUOTE] Woah dude do you have a poorly designed blog I can read?
[QUOTE=DaysBefore;41642731]Woah dude do you have a poorly designed blog I can read?[/QUOTE] No. But keep watching TV and movies. If you have not connected the dots yet, then it is only a question of time until you will.
[QUOTE=vadrigar;41642524]Why we just all can't go back to gold.[/QUOTE] i'll give you two chickens and my daughter's hand in marriage for that gold
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