My Bangkok Bitcoin Bonanza

Ah yes, Central Chidlom. It's not exactly a short stroll from my hotel (The Sofitel - as you'll recall they don't take bitcoin) so we took the BTS (another non-bitcoin heretic), and damn crowded it was, too.

We had lunch there on Christmas Day, in the Food Loft, usually abbreviated to "Loft" in the Thai way. It was busy, so busy we had difficulty getting a table by the window, but we did. It seems a chaotic arrangement, a cross between a cafeteria and a cafe. You get a card on entry which you then present to the kitchen of your choice, they record your card number (electronically Bruce will be pleased to hear) and return your card and a slip of paper (paper - uh oh :-? ). You then return to your table, on the way handing your slip of paper to a waiter. Shortly thereafter your food appears. I had some soup, pasta and apple & sultana crumble with vanilla ice-cream (yum yum) all washed down by a fruit smoothie (in my case a "Barbed Wire"). Alcohol was available - I saw someone with cans of Singha - but I'm not sure if there was any riesling. There were certainly numbers of men who, like riesling, would be best enjoyed young. The card is then presented to the cashier who tells you what you owe (in baht, not bitcoin) and you pay (in cash or credit card). My total was 535 baht (not bitcoin) and well worth it.

So now I've had to put the useless childish non-contributing posters on ignore.... smiles, cdnmatt, tobi, kommentariat.

Oh dear, it seems as if Bruce has chickened out when faced with a real challenge.

However, you might be surprised at the growing number of gay businesses in Bangkok that already accept bitcoin.

Surprise me. Start by listing the ones who display their prices in Bitcoin.

However, I have some exciting news. I'm lunching today with someone who was asked to pay in bitcoin and the only price quoted was bitcoin - not THB, not USD, not GBP - bitcoin. Just like Matt. I can't wait.

[Tobi]

Has anyone tried World Remit? https://www.worldremit.com/

Has anyone followed the logic of Bruce's instructions for using Bitcoin to send money internationally?
1 Buy Bitcoin in your own currency through a local intermediary
2 Sell Bitcoin in the currency of the destination country through a destination intermediary
3 Hope like hell the value of Bitcoin doesn't fluctuate in the meantime

That's as opposed to:
1 Buy the currency of the destination country in your own currency through a local intermediary at a guaranteed rate
2 Let the intermediary worry about the transfer mechanics
3 Um, that's it

As I've said elsewhere, I use Transferwise

I lunched with a friend (yes, that's the one, Bruce's neighbour) at Dean & Deluca's new Chong Nonsi branch. They've had one there before but it's now moved a step to the right but in many ways still the Rocky Horror Show as far as the service goes. As it's a New York franchise perhaps Bruce feels right at home?

My friend has had the rare experience of being able to transact solely in Bitcoin had he so wished. The price of the service he was offered was denominated only in Bitcoin. Had he owned some Bitcoin he could have paid for it without using the currency of his own country (the UK), the currency of his country of residence (Thailand) or the currency of the service provider (hmmm). What was this wonderful opportunity he was offered? The photos and documents he held on his computer were "kidnapped" and held to ransom. More technically, they were encrypted by a criminal who demanded payment in Bitcoin so they could be de-crypted. It's known colloquially as ransomware rather than software

And that pretty much encapsulates the broad spectrum of those who live and die by Bitcoin: blackmailers, child pornographers, drug dealers - and high-tech wankers

Did my friend pay up? Of course not. He backs his data up weekly to an external drive that is immediately disconnected and stored away. Before and after he runs a full virus scan on his computer. How then was he held to ramsom? He's not sure, but strongly suspects it was a visiting boy who asked to check his email

At last - someone in Bangkok who was offered Bitcoin as a means to transact :ymparty: :o)

[cdnmatt]

That scam has nothing to do about bitcoin, and was going on well before bitcoin hit the scene. Previously before bitcoin, they would require things like MoneyPak cards instead to unlock your computer.

Tell your friend to up his personal security. I don't ever seem to have a problem with malware. Then again, I don't let hookers use my computer either.

Then again, I don't let hookers use my computer either.

As we're all well aware, you're so ashamed of your sexuality you scuttle off to a short-time hotel for your sordid little encounters. Your comment is merely confirmation of your general hypocrisy and self-regard.

[firecat69]

Ridiculous!! Use of a CC does not give anyone access to your bank account. Also if you use a CC like Chase, I am alerted as the card is being read , almost instantaneously.

If I did not use the card , I make a simple call and the transaction is stopped . No month long chases to get my money back. My money is never spent.

Bitcoin may have some uses but certainly not for me!!!

[christianpfc]

Has anyone followed the logic of Bruce's instructions for using Bitcoin to send money internationally?
1 Buy Bitcoin in your own currency through a local intermediary
2 Sell Bitcoin in the currency of the destination country through a destination intermediary
3 Hope like hell the value of Bitcoin doesn't fluctuate in the meantime

That's as opposed to:
1 Buy the currency of the destination country in your own currency through a local intermediary at a guaranteed rate
2 Let the intermediary worry about the transfer mechanics
3 Um, that's it

As I've said elsewhere, I use Transferwise

But what are the losses with these two different ways? When I use transferwise to send 1000 Euro to Baht, I pay 15 Euro in fees. Bruce claims the same transaction in bitcoin would cost me close to zero, for which I would accept a further step.

"Hope like hell the value of Bitcoin doesn't fluctuate in the meantime...
guaranteed rate
Let the intermediary worry about the transfer mechanics"
That's not true. Transferwise takes days to complete the transaction, and only at the end the exact rate is known (but sufficiently close to prediction in my cases.

[bucknaway]

My only worry with bitcoin is related to my last trip to Thailand where my western union account was used to scam money from my local banks debit visa. They got about $2,000 usd but my bank protected me and I lost nothing.

If someone were to steal bitcoin in a similar manner, I would suffer the loss alone with no one protecting me from the loss or theft.