The Central Bank of Thailand freezes 3 Million Bank Accounts and begins setting Daily Limits. Thank god for Bitcoin.
Discussion
If 56 million people have bank accounts in Thailand (according to Gemini) and 3 million have been frozen, that means it is about one in twenty.
5.3%
Even if the new rules come into play that means, by rule of thumb, 5% of your payments do not get to you and are frozen.
That means PrompPay would have an implicit fee of 5%, more than credit cards.
Hmm.
Just rule of thumb, back of the envelope thinking.
#siamstr
And people accept that?
It all started with Covid-19(84)... cashless was the future. It was clean. It was efficient. Then a month ago they introduced measures to protect the young and elderly from scams... and yesterday it culimated in a mini bank run.
But to your question, do Thai people accept it? Yes, very much so. Many car parks are now Thai PromptPay only meaning a huge queue when a country bumpkin tries to leave and usually has to go to an office to pay. Many food courts are cashless.
Oblivious. There is no real movement that demands freedom in Thailand apart from a tiny group of bitcoiners...
Can people use SATs or lightning easily there? Would be good to avoid banks
Yes but.......
For example... I've only managed to convince one high school friend in my class. Everyone else thinks bitcoin is still a scam and that I'm trying to scam them.
Well either that or I got in early and it's too late for them.
I've had a couple new adopters lately, but yes, like covid, people are happy in their fiat prison.
People may have multiple bank accounts
Yes that number is people with bank accounts not bank accounts.
According to Gemini.
Coming soon to a country near you ๐๐ฎ
Has already started in the ๐ฌ๐งUK, ๐ฌ๐ชGeorgia, Italy ๐ฎ๐น, Russia๐ท๐บ - their excuses and propaganda differs.
The tactic remains the same.
Guess what breaks this siege? #Bitcoin ๐งก
#DigitalEuro #DigitalDollar #CBDC #FinancialRefuge #DeDollarization #EatTheRich #EndTheOligarchy
F*ck i thought Thailand was more chill than that. Still want to visit
Bitcoin Only! Fiat is on the verge of being obsolete. Institutions are scared of the revolution!
Thailand was never a stable and free country.
Not 30years ago, not 10 and def. not now
If you are a foreigner living in Thailand the government or the bank can freeze your account with a moments notice. You have to have sovereign funds if you want to live there.
^ 100%
Governments are the best promoters of Bitcoin