Thailand: World’s First Bitcoin Ban
Like a lot of people these days, I have a PayPal account I use fairly often. The other night, my boyfriend and I wanted pizza. The problem was, that, while our PayPal balance was high, our checking account balance was not. PayPal funds take three to five days to withdraw and transfer to your bank account. We wanted pizza tonight, not a week from now!
Yet as more diners hit the news for offering 1964 menu prices for 1964 coinage and gas stations sell gas for ten cents per gallon if paid for with a pre 1965 dime, people are getting the message.
In the 90s, Argentina’s debt continued to increase. Their lender of last resort, the IMF, continued to lend and extend payment schedules. Much IMF funding comes from the U.S. Our lender of last resort, the Fed, has continued to lend to the government and for all intents and purposes, are extending payment schedules since debt is continually rolled over. Consider the Fed is doing this in order to fill a void by reluctant private lenders at currently low interest rates and to keep those same interest rates low – yet more distortion.
People are reporting this as a major stumbling block for broad acceptance of bitcoin. I say, so what? Somehow I seriously doubt bitcoin superstar anmelden enthusiasts all over Thailand shut their digital wallets and deleted their Bitcoin. In fact, if I had to guess I’d say they probably carried on business as usual and the ban hasn’t impacted them at all.
12/22: Ryan Eriquezzo, WSOP Circuit Champion, makes an inspirational return to the show as he nears the end of his self-imposed 6 month hiatus from poker. There is much to learn from this young poker star who is quickly proving to be wise beyond his years. [Visit Website] [Download MP3].
To cancel your account please login to your account and click on “Account” and then “Delete Account”. Then click on the link “Click here to delete your account”. Then click “Ok” to confirm the account deletion. After that all your content, including user information and logs, will be permanently removed from our server.
Just putting the word e-currency into a search engine will bring up a huge list of strangely named currencies that you have probably never heard of. There are though a few big online currencies that are accepted by many merchants, companies and shops.
That confidence has and will continue to erode. The first reflection of that erosion will be in long-term interest rates. Despite all the efforts, and they are massive, to hold interest rates down, they are on the rise. This is a recognition by the market that it is uncomfortable with the current debt condition of the U.S. That discomfort will increase. Even if rates simply return to a long-term average, the collision of politics and economics will be in full display in Washington and state capitals across the country. This time is NOT different.