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Bitcoin In Thailand


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And what you're saying is that Crypto is a way to make money, I don't dispute that. I'm saying that is will not replace money despite that being a good idea.

"Most investors who trade stocks lose money," and there it is, the comparison to stocks.

"The big boys are in it, they just aren't saying it. You dont have a trillion dollar market cap just by the masses, its from billions invested in it from the big banks, the 1 percent. 

What do they know that you don't? "

Of course the Banks are in it, they'll seek to own what ever it is, that the proles have their money in. Then they loan you money to get more of it. Property, business, etc etc.

When Crypto has made all of society a better place and rich to boot, I'll resile from my scepticism, until then and if I live long enough, it's a thing that will lose me money if I go for it.

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I hear ya but I don't give a flying f*ck if it replaces money or not. Crypto has created scores and scores of millionaires of people who otherwise would have no chance and it created them quickly and in some cases without much money. They didnt have to rent a building, create a product or hire anyone. 

It has a trillion dollar market value. The only time in modern times that a trillion dollar industry has gone by the wayside is if something else replaces. I'm trying to think of a trillion dollar "business", "asset class" or whatever that has gone by the wayside. Billion dollar industries have (makers of VHS machines, etc) things that replaced by an improved product that replaces. Until something replaces cryptos, its here to stay and it won't be overnight. VHS tapes didn't go out of style overnight. The writing was on the wall months and months prior. 

All I know is that its been without question the best investment I've ever made. You guys have no idea...hehehe. 

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  • 3 weeks later...
On 9/26/2021 at 7:51 PM, chocolat steve said:

I'd love to have an update from Stonesoup if anyone knows him. 

Stone Soup, or should I say his real life persona is still posting on LinkedIn. I don’t really know him just met him 2-3 times at board get togethers, the last time must be 7 years ago now.

Not connected to him directly on LinkedIn  it we have mutual connections so I sometime see his posts.

He has posted nothing so far to indicate that he is a multi-millionaire who can afford to turn his back on the daily grind and still earning his dollar and still in the same business as he has been for as long as I have known of him. 

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I get 'coin scams targeting me ( I have an email address that is less private, for that purpose).

In one, it was an innocuous web page link, that looked like a link to the NZ Herald, our national newspaper, that went to the very good copy of the real site, with a hero article, showing Eion Musk and a start up that was earning him $28K a day, all presented as news.

Of course, click on the link, to the start up and, what's your name, email, phone, and credit card details.....

But very, very, well done.



Mind you - someone sent me a,  vaccination queue text, asking for details too, easy that one, "Warmest Greetings......"



And I got this (name removed) Covid test result from Indonesia. To the best of my knowledge I've never been to Indonesia. Did lose a week in Bangkok once, but no signs I left the country.



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  • 2 months later...

Bank of Thailand promotes Stablecoins to pay for goods and services

The Bank of Thailand (BoT) is planning to promote the use of Stablecoins to pay for goods and services and to help develop financial innovation.

The central bank has been drafting regulations on the use of digital assets, which will be implemented soon. The bank has also been studying how federal banks in other countries supervise digital assets.

According to the BoT’s senior director of the economic and policy department, Sakkapop Panyaukul, some countries ban the use of digital assets, some wholly support them, while many others use a neutral policy.

For example, El Salvador has been using Bitcoin as its legal tender.
On the other hand, China bans cryptocurrencies entirely and lists cryptocurrencies and related assets as illegal...


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Looks like the left hand doesn’ know what the right is doing.      Again

From Todays Post

Thailand plans to ban digital asset operators from facilitating use of crypto as a means of payment for goods and services, its central bank and market regulator said on Tuesday, in a bid to limit risks.

Digital asset business operators have expanded their businesses to cover services related to the use of digital assets as payments, which may result in a wider adoption of such activity, the Bank of Thailand, the Securities and Exchange Commission and Ministry of Finance said in a joint statement.

That could potentially impact financial stability and the overall economic system, it said.


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