Hello,

Bitcoin gains to a better understanding by the regulators and authorities. Thailand, in a surprise move, allows Thai speculators and investors to trade in Bitcoin derivatives via a properly licenced Thai Broker headquartered in Bangkok. With all the outspoken mainstream media press blasting at us around all kinds of topics often with their agenda, not least on Bitcoins, there is increasingly a need toward a better explanation for balance and sanity.

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It's a good thing that various authorities want to "educate people about bitcoin". However, this begs the question: Who will educate the authorities? Or, what biases (or say behind the curve understanding) do they have in such top-down handed, biased explanations.

One should not confuse Bitcoin (or other such legitimate crypto currencies) being paired with actual currencies like commodities are, as its not a coin.

Its an exchange of value mechanism based on bid and offer by millions which partake around the clock, 7 days a week. Of course, it has and can fluctuate much in price but this does not make it useless or highly debased or crazy like many bankers or other disinterested gnomes acclaim in their smartly penned articles.

If bitcoin has a bad week -as just recently when it gyrated greatly- this does not mean that it "parallels with investments in a Ponzi scheme" as some have suggested. For the same reason that when the Thai stock SET index dropped from 1749 (in January 1994) to barely 214 (in August 1998) that wasn’t necessarily preordained to be a Ponzi scheme either. Or other such very and increasing volatile periods in stock and currency markets over the past say 20 years. The US stock market itself recently has also been on an utter roar… and some rightfully call it a bubble in the making. Time will show as a bubble burst will endure just as much pain.

The gigantic rise in US stocks has almost entirely bypassed ordinary people there vs. cryptocurrencies which has generated a substantial amount of new young aged millionaires, which by passed Wall Street ever so dominated by institutions. These mega entities always have better information on hand then we the real people. So call the rise of bitcoins the “revenge of the nerds” and a kick in the butt to the often rotten establishment.

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Government institutions should not declare bitcoin "is not legal tender” if you are not breaking laws by settling your promise to pay somebody else.

Authorities should warn about the speculative frenzy behind bitcoin, but should refrain saying things like "the recent price surge was driven by pure speculation".

Far more than just that as 3 main forces drive bitcoin prices up:

Speculation (people buying and holding for a short period to hopefully sell quickly at a higher price), just like in any stock market:

Investment, people buying and holding for the longer time period to hopefully sell at a higher price in the future.

Any rational investor which seek an Alternative investment asset class which may well move and be influenced very differently than bloating institutional dominated financial markets. With the hope that bitcoin -and other such legitimate crypto currencies- will fluctuate in different ways as compared to more traditional financial assets, as held in masses by mega-institutions. These we all realize have better information, then we the people. I.e. to hold to an avant-garde asset which likely has no, or little, correlation to the mainstream financial markets.

This last reason, holding crypto for hedging by all kinds of different real people worldwide which are buying digital assets, or what should be called 'cryptocommodities', yes in good part due to their legitimate lack of faith in the long history fiat money.

Thereby by passing the dazzling banking system which has benefited the super rich and institutional investor while imposing its handed down fees and other abuses on us, the people.

Yesterday, in a first, bitcoin speculation was allowed for Thais by the regulators. Phillip Securities, a licenced Thai broker here, has OK’d Thai investors to speculate/invest in bitcoin via an international global derivatives trading service, while Thailand's market regulators are in consensus that the move is legitimate. Such service offers bitcoin futures trading on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME).

Best Regards to all in this progressive Blog!

Black Panter