As if the people of Thailand needed another reason to invest in bitcoins, a few months ago there was a run on the Government Savings Bank (GSB), which is under management of the Thai government. We have fractional reserve banking to thank for this. The only thing worse than not getting your money is getting your money and it being worthless. Throughout history, people have used precious metals such as gold or silver to preserve their wealth. Perhaps now people will start turning to bitcoins to preserve their money.
To top things off, Thailand can’t seem to make up their mind when it comes to Bitcoin and are reversing their decisions only months after making them. Most recently the Bank of Thailand issued a statement saying Bitcoin is data and not considered legal tender. Originally, back in July of 2013 the Bank of Thailand sent a notice to only Bitcoin exchange that was operating in the country at the time. This notice resulted in the exchange suspending their operations. That was until January 31st of 2013 when the Bank of Thailand stated that after further consideration, Bitcoin exchanges did not fall under the scope of the ministry of Finance regulations. Trading resumed February 15th, 2013.
In all this, Thais have not been deterred from investing in Bitcoin. There is a growing community in of Bitcoin enthusiasts in Thailand who’s presence is not only online. Every Monday night a group of users gets together in Bangkok for what have dubbed a Bitcoin Meetup.
To accommodate this growing community, Bitcoin Co. Ltd is sponsoring a conference which includes expert panelists. These panelists will walk you through the basics of Bitcoin, mining and trading, and while the primary target audience for the event is for Bitcoin investors, it is open to people of all walks of life.
The conference will begin by introducing Bitcoin and explaining how a Bitcoin wallet works before going into mining, equipment, and trading. After a break for lunch, which is provided by Bitcoin Co. Ltd, the rest of the conference will focus on Bitcoin and Altcoin investments as well as the pro’s and cons to accepting Bitcoin payments. There will be an expert panel Q&A session before dismissing for coffee, networking and saying your goodbyes.
Registration is free, so sign up while seats are available.
Featured image by Shutterstock.