It added: "Bitcoins are, in essence, electricity converted into long strings of code that have money value." But we don't have to reveal our personal information when transferring money via bitcoin," he said. In spite of high fluctuations in bitcoin prices partly due to the US Securities and Exchange Commission failing to approve the physical bitcoin ETF, Mr Atit said: "Bitcoin will die if the internet is shut down. "Digital currency can ease inflationary pressure because the number of bitcoins is capped at 21 million units. Asked whether investors should be cautious when trading bitcoins, Mr Korn said: "The high volatility of bitcoin prices answers that particular question."

Source: Bangkok Post March 18, 2017 23:48 UTC