MadMac

It is dead as in walking.

So Bitkub, if you read here, how do I get my money back?!

Not coming back, so it is no maintenance.

Yesterday they offered 1000B in trading fees for whatever problems.

Seems they ran out of money after all.

Bankrupt.

Hacked or bankrupt or both, typical symptoms.

You don't crash a trading system with new people opening an account. Two completely different things. So if they give this answer it means they have been compromised and try to cover it up. Bad.

Not new, this is going on for days as I wrote here already. Should have kept your pockets closed. 

35 minutes ago, Barnabe said:

Still down. I'm starting to sense a hack.

Thai cyber security is atrocious, even for banks.

 

Most of my money is out, so I consider myself lucky. Either hacked or bankrupt. Symptoms are usually the same.

Should just teach us one lesson again, do not leave any funds on exchanges unless you are actually trading.

Coinbase regularly crashes when prices go up or down.

13 minutes ago, MadMac said:

"Bitkub website and application urgent maintenance"

Such things usually happen, when sites get hacked. I don't say they got hacked. But don't be surprised if.

Buy regularly, dollar cost averaging. Like 100$ each month. Nothing you could do wrong with it.

This "exchange is doomed. Decide for yourself if you want to trust them with your money.

"Bitkub website and application urgent maintenance

We would like to inform you that our website and application is undergoing system maintenance resulting in Bitkub website and application inaccessible on 18/01/2021 until further notice.

We are working on it with highest priority and will inform you immediately once we are back in service."

Thailand does not have any vaccines, so it is save to say there are no casualities ???? 

So they knew already in January what was coming from China. That is in line with the clinical trial applications. Moderna was the first in March, that is they already had the final vaccine, while the rest of the world still did not know anything about the virus. Go figure.

51 minutes ago, bluebird729 said:

Did you get any reason why you were not accepted ?

Obviously because he is a US citizen and requirements for KYC, AML and IRS are made to block you from trading at most international exchanges. Can use a VPN and use one of the few left without KYC but these are becoming fewer and fewer. Binance also requires US citizens for KYC now.

What works are decentralized platforms like for instance Uniswap, but I believe you need to have some cryptocurrency first, not fiat money.

35 minutes ago, Raphael Hythlodaeus said:

I have used Bitkub for some time and baht deposits/withdrawals from SCB and crypto deposits/withdrawals have been no problem.

Except one time when an ETH withdrawal took several hours, but I think due to network issues, not Bitkub.

I am a Bitkub customer -- no other financial interest with them.

 

 

 

Crypto withdrawals are no problem, THB deposit with QR code also works. What did not work was bank transfer and you cannot reach them as they do not have a working phone number. The one guy they have in the chat box is not able to cope with requests. Had to wait several hours, then still they did not accept the payment confirmation. Had to go to UOB, but  still could not upload as the amount is different each time and not accepted. Then waited again for several hours. Apparently another one of their staff with some knowledge fixed it in the end.

4 hours ago, ukrules said:

I read an article back in 2018 which stated the new tax laws will apply to worldwide income even if it's transferred into Thailand in the following year 'because they have blockchain in Thailand'.

 

If you have a larger amount of money, say a million or more USD and decide to make a sale then I would suggest setting up a foreign corporation along with both corporate and personal bank accounts to handle this well in advance if the above law ever made it into the statutes.

 

Perhaps somewhere like Hong Kong.

 

Taxation law states that only income that is brought into the country in the same year is taxable. You can well make millions of income let's say in Singapore, leave the money there and Thailand will have no means to tax that. Even better if your income is send from abroad to your SG bank account, then it is also tax free in SG as foreign sourced income is not taxable. But capital gains such as from selling of crypto are tax free anyways.

I know there are some vague crypto laws currently in Thailand, important is where you are tax resident and if you have a company and/or declare your tax abroad, there is a double taxation agreeement between Thailand and most countries. 

I personally would not trust any of the handful Thai exchanges not to give your details to the authorities. I also would not trust Hong Kong anymore under steadily  increasing Chinese influence and pressure.

ETH has a large scalability problem. Fees are completely out of anything acceptable. Polkadot is an alternative platform, so is Cardano/Ada. I expect Apps to make use of more efficient low layer solutions.

Libra? That was news half a century ago. Meanwhile the Chinese have already their digital Yuan.

Yeah, why not, after the human trials in North America are successful.

LOL, I remember this, I worked for Lucent Technologies before it was taken over by the French and then eaten by the Fins ????

litbp4mtw

Lucent is the best place for me to work ????

The idea stuck, just use a phrase you can remember and the first letter of each word.

1 minute ago, pikao said:

Only physical gold is gold, the rest is alchemy. But why not, if there's money to make

Well, you can't make chips out of Bitcoin as you can with Gold, valid point ????

Bitcoin is the same as Gold, you should have some. Ethereum is the Oil you fill in your car, and then there is something else depending on your risk appetite.

https://coins.co.th/

Not much options. To play safe do not send any money to any Thai bank account. You can buy, just not sell into.