My Bangkok Bitcoin Bonanza

[christianpfc]

I've been suffering from Bangkok Belly (or in this case Chiang Mai Belly) ever since I returned to Bangkok. Imodium isn't doing the trick.

I tried Immodium once (the first time I had diarrhea in Thailand), and it didn't work. I vaguely remember others claiming the same. Anyway, I had a look at Wikipedia, which says that Immodium merely paralyzes the sphincter, but does not fight the cause of diarrhea.

When I have diarrhea that does not disappear after a few days, I go to see a doctor, or now rather go to pharmacy and get ciprofloxacin which helps (prescription only in Europe, OTC in Thailand - drug resistancy and so on, one day someone will die because he is infected with a resistant strain, just because I didn't want to sit it out - literally!).

[lukylok]

We are far from bitcoin.....
Just a word of warning re ciprofloxacin : one common side effect is allergy to sun light ....
I suffered from it and had to be treated with cortisone.
And I was briefly in the pale sun of Northern Europe, so imagine the tropical sun !

[christianpfc]

That's interesting, I didn't know that before, although I'm sure I read the wikipedia article on ciprofloxacin. I have sensitive skin and use umbrella or cover up completely from knee up (even gloves!) when I travel during daytime more than short distances. I didn't notice increases sensitivity when taking ciprofloxacin, but will cover completely next time I use it.

[sjaak327]

Riding on an uber taxi trying to pay with bitcoins. What the hell is wrong with a normal taxi and THB ?

Silly buggers.

[frequent]

Oh dear oh dear. Now nearly 30% in two days - http://www.coindesk.com/bitcoin-drop...price-decline/

[Nirish guy]

Oh dear a bitcoin server hacked again eh - hmmm maybe someone's trying out at going for a second Brucey Bonus (popular UK game show host where you got a load of free money) - all "allegedly" of course just :-)

[scottish-guy]

Riding on an uber taxi trying to pay with bitcoins. What the hell is wrong with a normal taxi and THB ?

Silly buggers.

I'm reminded of those people who trudge from one money exchange booth to another clutching $200, in search of a 10 satang difference in the exchange rate

[cdnmatt]

Oh dear a bitcoin server hacked again eh - hmmm maybe someone's trying out at going for a second Brucey Bonus (popular UK game show host where you got a load of free money) - all "allegedly" of course just :-)

Large theft too. What was it? Around $70 million this time or so? Ouch.

Said it before, will say it again, DO NOT LEAVE YOUR FUNDS IN A WEB WALLET (ie. Bitfinex). Because shit like this happens.

I'm going over 3 years getting paid solely in bitcoin, and have yet to have a dollar stolen, so I have the track record to back up my words.

[Old git]

The lost motorist asks a farmer for directions. After thinking for a moment, the farmer replies: 'Well sir, if you want to go there, you don't want to start from here..'

Thus it is with Bitcoin - if you want to beat 'the system' and get one over on the fiat currencies, QE, blah blah blah.. Bitcoin is not your answer.

The value of a currency needs to be anchored to something, either directly or indirectly. Why? - Because one of the prime requisites of a currency is purchase power stability - it's value needs to be known and understood, it needs to relate to real life. In that regard, Bitcoin fails and will continue to fail. It sucks in the foolish and gullible, and will, at some point, almost certainly vanish, leaving nothing of value in it's wake. No-one is underwriting Bitcoin, no-one stands as guarantor of it's value.

If you want a new currency that is detached from state control, base it on the distant futures price of a core commodity - say a kilo of rice for delivery in 5 years time.

Trouble is, that is too safe and sensible, and too hard to use as a tool to separate fools from their hard-earned..

Before dabbling in Bitcoin, ask yourself the question: 'Who, really, is
getting fat out of this?'

[christianpfc]

The value of a currency needs to be anchored to something, either directly or indirectly.

And to what is the value of EUR or USD anchored?