Farang123

On 5/3/2021 at 5:23 PM, Surelynot said:

Probably end badly....but it is all the timing......I have a target price in mind to sell and then I am out........if it doesn't all go pear shaped beforehand.

What price?

Hey all!

Please watch the following YouTube video "The Tragic Story of Telling your Friends to Buy Bitcoin" for a good laugh.

It sums up the situation pretty well though, doesn't it?

The Tragic Struggle of Telling your Friends to Buy Bitcoin (2011-2021) - YouTube

On 5/1/2021 at 12:05 PM, WaveHunter said:

I'm reading this thread in its' entirety because I also am interested in putting money in BitCoin while living here in Thailand.  I would prefer to do it with a US based source, not a Thai source.

 

It seems that the Op is simply asking for feedback from seasoned crypto investors on where and from whom to buy coins. 

 

So far I am only on Page 2, but so far almost every response has been negative and/or hostile in answering this simple question WITHOUT any positive help at all?

 

Why all the assumptions that the Op is looking for a "get rich quick" scheme (I.e.: missing the boat), or claiming the investment of only 75% of his stimulus check is a joke? 

 

To me, the Op sound like someone who recognizes there is a crisis in the world of Fiat currencies, and wants to test the waters of cryptocurrencies.  TO me, that is a intelligent idea and worthy of a helpful reply from some of the more seasoned investors on this forum.

 

@Poet's post is first post so far that has seemed to be a positive and helpful response.  More importantly, he "hits the nail on the head" in discussing the vulnerability of fiat currencies in light of how Covid has resulted in massive and out-of -control spending, particularly in the US. 

 

ALl of this so-called relief spending is NOT going to help the poor or middle class at all.  They may receive their stimulus checks and feel happy about "free money" until they realize that they will be paying it back and a lot more besides in the form of the unprecedented hyper inflation that results from trillions of dollars of additional debt.

 

The ability to just print worthless money on this scale in a Fiat type of economy is going to have a devastating effect on the value of the US dollar, and it's probably going to happen a lot sooner than many realize. 

 

History shows that, without exception, every time that a major government has resorted to such unrestrained printing of money, the economy has crashed spectacularly! 

 

Just look at the hyperinflation that occured in the Weimar Republic between 1914 and 1923,  what happened in Zimbabwe in 2007, or Venezuela in 2016.  Covid has set the stage for it to happen again, but this time on a world-wide scale IMO.

 

As far as I'm concerned, the economic devastation caused by Covid is being vastly underestimated right now.  I think it will be far more impactful than the health consequences of Covid by comparison.

 

When you appreciate that one of the key features of a blockchain supported currency is that it can not be manipulated by central banks, in such a devastating way makes it a very attractive option to Fiat type currencies.

 

Hopefully as I read more pages of this thread, some people with a seemingly better understanding of the virtues of blockchain currencies will provide better answers than I've seen so far.

Thanks for your post.  Yes, there are inevitably a lot of negative keyboard warriors who post on the internet in general, and especially here at ThaiVisa, but I'm glad I started this thread as there have been some useful posts by POET and a few others and it has also opened up space for other people who have similar questions to express themselves.

It's like you can't win, first people tell me something like "Oh, don't rush into it until you really know what you're doing as you will just lose money", then when I post that I still haven't purchased because of some different obstacles (after 1 month) someone chimes in "See the OP hasn't purchased even after one month, haha, better stay away!" or some other nonsense.

I still plan on purchasing bitcoin but it may have to wait until I return to the USA. That time may not be too far off either.

1 minute ago, Farang123 said:

Pathetic doesn't even begin to describe it.

You know now we are having an increase in cases, this is how the current disaster started in India.  It starts snowballing and it's already too late.

Just now, newnative said:

    Yes, it's an 'urgent national priority'--to everyone in Thailand except the government.  Almost May and still just endless talk, endless planning, endless committees to do more studying.  Blah, blah, blah.  No urgency whatsoever.  Get on the phone to Biden today and see what can be in the air tomorrow.  Get cracking already.  As others have said, procurement is the urgent national priority.  

Pathetic doesn't even begin to describe it.

16 minutes ago, pseudorabies said:

The US has announced that they will share at least 60 million doses of the AZ vaccine.  Given how it was only last week, 5 months after it's release, that Thailand got in line for one of the mRNA vaccines let's see if the Thai government can be bothered to at least try to get some of the 60 million the US is offering.  My guess is that they will have some excuse not to and ignore like there was never an opportunity.

 

And the US should consider getting some of these doses to expats.  But I'm not holding my breath on that...

I heard a report from a top doctor who was saying in some countries the US embassies are offering its citizens vaccines.  Apparently Thailand is NOT one of those countries.

I called a local hospital today (big one in Chiang Mai). Very helpful staff told me the vaccine may be available by July but really they have no clue.

The failure to roll out vaccines in a timely fashion is a HUGE fail.

17 hours ago, jumbo said:

 I wont go in details too....  but I set my account up in 24 hours, approval took long, and my funds were here in  24 hours as well with WISE and the purchase took around 5 minutes

That's great.  Did you wire money from a US bank?

1 hour ago, fdsa said:

Author got the answer for his question almost a month ago already but still haven't figured out how to buy Bitcoins

you should really stay away from it.

I found a broker and signed up that was a good step.  The transfer of funds is complicated issue that I won't go into detail here... 

20 minutes ago, jumbo said:

So you were ready and able to buy at 59 but not at 49???

Better stay from it....

I would buy now, although it's still going lower.  But I haven't yet been able to transfer funds.

Bitcoin is way down.  Glad I wasn't able to buy at 60k otherwise I probably would have.  

On 4/18/2021 at 3:26 PM, karunasup said:

Finally, opened an account at Kraken. However, note that Kraken works with a third part called ETANA for the bank account linked to your account. You must have the same residential address as used for ID verification. In my case I cannot use my USA bank cuz I use a Thai residential address. So, had to use a different bank. 

At any rate, Kraken seems to be investor-friendly. Good customer service via chat.

I also signed up for Kraken recently.  I signed up for an intermediate account and put in my US Address so my account is US based.  However my US Bank Account won't let me transfer money to Kraken without going into a branch physically.  Kind of weird.

This is pathetic.  Thailand is so slow to roll out the vaccines and now the 3rd wave is spreading.

On 4/13/2021 at 12:48 PM, canthai55 said:

OP has never stated if the GF is Thai

Until this is established then all advice is moot

GF is not Thai.  I'm not selling the car without owners permission.  I don't know where anyone is coming up with that.  It's my damn car, just in my GF's name.  She will happily sign any paperwork that needs signing.

3 hours ago, rcuthbert said:

India's pharmaceutical companies mass produce safe effective hep C   medicines. The trick is to buy medicines from the correct sources. I see no evidence that said companies would produce an inferior vaccine.

Research is the key.

The point is not whether India can produce safe vaccines.  They can and they do most likely have some decent health care facilities.  However right now the hospitals are literally overflowing with people.  I saw a video they are lying on the ground in the waiting rooms, all sick with covid and there are no doctors in the hospital.  India is chaotic even when things are normal.  Now it's absolutely out of control.  You can check bbc news for a recent video from yesterday about the situation in India.

Good luck to everyone!

11 hours ago, Leffe said:

I live in Chiang Mai and have traded on Kraken exchange for 2 years. When signing up the KYC process is straightforward and customer support is excellent. Most importantly you can sell crypto to fiat on the exchange then transfer USD back to Thailand. You will need an intermediary bank to handle the transfer from Kraken to your bank in Thailand. I use the Bangkok Bank in New York. 

I got my account verified for Kraken but now my bank in America (I signed up with my US address) says that they can't do a wire transfer without me going into a physical location.  Is that strange?  P.S.  I'm also in Chiang Mai ????  Hope you're making a lot of money these days!

On 4/2/2021 at 8:43 PM, Poet said:

I only use my Thai banks accounts for spending in Thailand, I run all my business stuff outside Thailand, but I don't see why any exchange wouldn't accept a bank transfer from Thailand.

 

For sure. It's an American company.
 

I use it from Thailand, my Thai partner uses it from Thailand.

I'm not particularly aware of any sites, apart from US entertainment sites, that block Thailand but, if you run into problems, fire up a Digital Ocean (or similar VPS service) instance in the US and run the Firefox browser through that using a SOCKS5 proxy. That should cost you under a cent for up to an hour, don't forget to kill the instance when you are finished. Learning how to do that is better than a VPN because it is cheaper, faster, and the IP won't blacklisted due to being associated with a VPN service.

 

SO I finally chose a company to sign up with and got my account verified.  Having a little trouble doing a wire transfer now and missing out on opportunity as bitcoin is headed up now.  Feeling very frustrated! Argh!

2 hours ago, AlfHuy said:

how much?

I bought the car for 90,000 baht.

1 hour ago, jack71 said:

totally agree with your comments re kraken. However ledger is inferior to trezor hardware wallet model T where one can create a secret wallet using an additional 'passphrase'. the best thing is that you dont have to enter it on the keyboard. you can enter the passphrase word on the actual trezor device to access that wallet. Ive always had issues wiht my ledger nano s and dont like their ledger live either. many issues. i dont use it anymore

How do you deposit funds into an account in Kraken?

The teaching itself is pretty easy, of course you will be responsible for creating lessons which can take some time depending on how diverse your classes are.

What will really drag on you will be interacting with co-workers as someone else mentioned.  They will gradually start asking you to do more and more, come in on the weekends, stay later, do gate duty.  Nothing is really about how you teach the students in a Thai government school.  Most of the Thai teachers who teach in them can't speak very well and pass on bad habits to the students.

The salary is pretty bad too, I just finished a year working for 28,000 a month.  Not worth it at all IMO but covid was coming and I needed a visa quickly.

2 minutes ago, Arfur said:

Thanks - yeah there are a few around just hard finding one which exchanges BTC for Baht - the one at Grace Vintage Galleria Cafe' did so but they are now closed as far as I can tell thus far.

How much bitcoin are you looking to sell?

Bitcoin ATM Chiang Mai Thailand (coinatmradar.com)

I seem to remember there being one (I saw one on an BITCOIN ATM map of Thailand).  The fees are exorbitant.  Will try to find.