Thailand to ban cryptocurrency as a payment method from April


Posts: 183   +86
Are you saying the government can't track your assets in crypto?

Cause that's demonstrably false.
It doesn't matter if they can track bitcoins or not, they don’t recognize the medium as currency and even if (which is not possible) they can match with 100% accuracy a crypto wallet to a citizen they can’t force the citizen to reveal a password because it’s part of his personality.

The court can force the bank to hold your deposit account but they can’t force you to give them your password to your bitcoins because for the state and the court the bitcoins are just random text strings and the password is part of your personality.

Don’t you remember that case where they was trying to hack a locked encrypted phone? Why they didn't had force the owner to give them the password? Because it’s against the constitution and the law. If they want to be competitive they have to reduce drastically the taxes (zero vat and zero income taxes) or the new competitor which is more advanced it will render them useless .

The state is founded in the name of people and the people don’t like pay taxes. Their state their rules.

The dilemma is democracy with minimum taxes or dictatorship with the danger of a revolution. In usa with so may guns around I don't think there will be a problem for the democracy. 🤠

Greg Powell

Posts: 10   +4
If a bank bankrupts you will loose all your deposits, with bitcoin there is no such problem.

If you have a lot of deposits in a bank and an employ leak that info to criminals they will kidnap you, with bitcoin there is no such problem.

If you make payments with old fashion money you pay vat (around 20%) and the receiver pays income tax (around 40%), with bitcoin there is no such problem.

If you have your deposits on a bank the government can come and take them for any reason they think, with bitcoin there is no such problem.

If you divorce you will have to pay your ex wife an amount which will be calculated from your income in old fashion money and your deposits in the bank, with bitcoin there is no such problem.

If you want make international payments with old fashion money there will be a fee and the payment will arrive after days if not stuck somewhere in the middle, with bitcoin there is no such problem.

Only blinds they can’t see the benefits of bitcoin and other cryptocurrencies over the old fashion currencies.
None of that matters if you're not trying to hide something....

Squid Surprise

Posts: 5,335   +4,980
Governments (or ANYONE) can track any Bitcoin transaction to any Bitcoin address - but since it is easy to make a new address...Provided you use a different Bitcoin address for every transaction, there is no way for anyone to trace you...

When people DO get traced, it's when they attempt to "cash out" or convert their Bitcoin to cash...
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Posts: 1,597   +1,422
The only reason people on a tech forum want crypto banned is because it makes their graphics cards more expensive. But the reason why dictatorships around the world want crypto banned is because they can’t control it. They can’t just print more of it and they can’t stockpile and reserve like they do with regular currencies. They can’t just restrict access to your bank account and they can’t prevent others from receiving payments from you if they feel like it.

Basically if cheap graphics cards means more to you than liberty, protection against inflation and protection against corruption and dictatorship that speaks volume about the type of person you are.
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