31–40 of 107 posts
Earlier quoted context omitted.
By preventing you from buying groceries with funds received via bitcoin...
Unless you buy from farmers at farmers markets who accept bitcoins…[0] [0] https://bitcointalk.org/index.php?topic=5787.0%3ball
Riddle me this. How does banning bits in any way shape or form, prevent their transmission and storage?
It will be interesting to see how actively they enforce this new ruling. Given that paedo-tourists are effectively given a free pass in Thailand I find it odd that Bitcoin would work it's way to the top of the agenda.
> Given that paedo-tourists are effectively given a free pass in Thailand Really necessary to drag that in to the discussion?
The key factor to the success of any currency is liquidity. You are only willing to put money in if you can take money out. If the government of Thailand says it is illegal to transfer money in or out - that will effect liquidity in Thailand. How will this be enforced? First, banks and reputable institutions doing business in Thailand will not be allowed to trade with companies involved in bitcoin exchange. Of course…
I don't own any bitcoins, nor do I see myself owning any bitcoins for a long, long time, if ever. Its bad news for bitcoin, but it is very minor bad news. Bitcoin only needs to be legal in the US or Europe for it to work world wide eventually. Just imagine a time 30 years from now and a company wants to manufacture something in Thailand (lets say it is product as big as the iPhone was in the early 10's.) and that com…
- Buying Bitcoins - Selling Bitcoins - Buying any goods or services in exchange for Bitcoins - Selling any goods or services for Bitcoins - Sending Bitcoins to anyone located outside of Thailand - Receiving Bitcoins from anyone located outside of Thailand I think what they mean is that its impossible for a company to do any of the above things legally. Its not possible to enforce this on the individual level.
It seems to me hard to enforce in some western countries.
How can you enforce people not to buy or sell something, unless you decide it's a scam.
Regulations could be enforced, I suppose, the same way short-selling can be 'paused' in situation in which the market is going crazy or volatility is too high. But unless you use these loopholes I am not sure it would be possible.
Does anyone know of ways to enforce such a thing in the states? Or in any of the western european countries?
- Buying Bitcoins - Selling Bitcoins - Buying any goods or services in exchange for Bitcoins - Selling any goods or services for Bitcoins - Sending Bitcoins to anyone located outside of Thailand - Receiving Bitcoins from anyone located outside of Thailand I think what they mean is that its impossible for a company to do any of the above things legally. Its not possible to enforce this on the individual level.
If someone proposes this kind of law in the US, would it be compatible with the US Constitution? It seems to me hard to enforce in some western countries. How can you enforce people not to buy or sell something, unless you decide it's a scam. Regulations could be enforced, I suppose, the same way short-selling can be 'paused' in situation in which the market is going crazy or volatility is too high. But unless you us…
Drugs, weapons, precursors/ingredients for those things.... Certainly some of the worst and most controversial parts of modern legal codes in the west, but governments ban stuff they don't like all the time.
Where you're dealing with financial instruments, there is just so much law in place already that it seems to me it would be almost impossible to make a business using Bitcoin and not fall foul of some law somewhere.
The key factor to the success of any currency is liquidity. You are only willing to put money in if you can take money out. If the government of Thailand says it is illegal to transfer money in or out - that will effect liquidity in Thailand. How will this be enforced? First, banks and reputable institutions doing business in Thailand will not be allowed to trade with companies involved in bitcoin exchange. Of course…
Especially in countries with highly inflatonary currencies, or countries with strong currency controls, the black market demand for Bitcoin could be huge.
Earlier quoted context omitted.
I don't own any bitcoins, nor do I see myself owning any bitcoins for a long, long time, if ever. Its bad news for bitcoin, but it is very minor bad news. Bitcoin only needs to be legal in the US or Europe for it to work world wide eventually. Just imagine a time 30 years from now and a company wants to manufacture something in Thailand (lets say it is product as big as the iPhone was in the early 10's.) and that com…
Thailand != Taiwan
The key factor to the success of any currency is liquidity. You are only willing to put money in if you can take money out. If the government of Thailand says it is illegal to transfer money in or out - that will effect liquidity in Thailand. How will this be enforced? First, banks and reputable institutions doing business in Thailand will not be allowed to trade with companies involved in bitcoin exchange. Of course…
Of course, US currency is used because it's more stable than the local currency (which bitcoin probably isn't) and it's physical, you can't block it by blocking network traffic.
Riddle me this. How does banning bits in any way shape or form, prevent their transmission and storage?
The huge-ass 400 pound 6"5 bolybuilder of the 11, bans the use of bitcoins.
3 guys defiantly continue to trade in bitcoins.
The other 7 are not so sure -- they rather stay legal.
When the gorilla guy caughts wind of one the traders, he smashes their heads with a hammer and/or throws them in jail. This make 7 other guys even more reluctant, and even makes 1 of the remaining 2 traders to rethink his actions.
Makes sense? Substitute the gorilla guy with law enforcement.