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Phuket Poll: Do you believe in Bitcoin?

PHUKET: Bitcoin may have launched nine years ago, but cryptocurrencies are now taking the public imagination by storm as an alternative form of currency – but this one entirely beyond the influence of the global banking industry.

opiniontechnologyeconomics
By The Phuket News

Tuesday 23 January 2018, 12:43PM


A man looks at ATM machines for Bitcoin in Hong Kong. Bitcoin's reported value has soared over the past year, breaking many records, and risen more than 20-fold since the start of 2017. Photo: AFP

A man looks at ATM machines for Bitcoin in Hong Kong. Bitcoin's reported value has soared over the past year, breaking many records, and risen more than 20-fold since the start of 2017. Photo: AFP

However, it has been a rocky road since 2009, with serious questions asked of the security involved in trading cryptocurrencies, despite the advent of Blockchain, a public ledger of all transactions kept online for all the world to see.

Of note, the theft of a reported US$65 million of the digital currency from a brokerage based in Hong Kong in September 2016 alone saw global prices fall from around US$620 to around $535 per Bitcoin.

Over the past year, however, reported explosive growth has seen Bitcoin units increase from a reported US$1,000 per coin to as much as $18,000 per unit, with many investors sceptical of such an increase in the online currency’s true value.

The presence of cryptocurrencies continue to expand around the globe, and Phuket is no exception with a range of coins, including Bitcoin, now making their way to our shores.

To this, The Phuket News asks readers in our online poll the simple question, “Do you believe in Bitcoin?”

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Responses available are:

  • No, cryptocurrencies are nothing like genuine currencies and should not be used – or trusted – at all.
  • No, the idea of Blockchain and cryptocurrencies is good, but the existing coins are far from being suitable for use as currencies.
  • Yes, cryptocurrencies have their use as long as people are happy being paid in them, but they are not as useful or safe as traditional currencies.
  • Yes, cryptocurrencies are the future and should be treated just like other “genuine” currencies.

To vote in the poll, click here.

If your preferred response is not available, feel free to add it in the comments below.

To see the results of our previous poll “Should tourists’ driver’s licences be recognised as legal?”, click here.

 

 

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Pauly44 | 24 January 2018 - 14:39:21

Nope.

Christy Sweet | 24 January 2018 - 09:28:50

I'm for anything that keeps US unregulated banks from controlling me in any way. 

moskito | 24 January 2018 - 08:49:43

very nice, 
1st they (/) f..ed us with paper for gold
2nd they f..ed us with numbers on bank accounts for paper
3rd they are trying to f..c us with bits and bites you cant even touch anymore :) 
...nice try...for the greedy people who always want to make a fast buck and after crying when they lost everything. 
Only worse than bitcoin - onecoin - platincoin - etc...

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