mjnaus

Come on now, this was to be expected, no? Everyone who's been here for more then a year or two should that incompetence is this government's trademark.

Do not expect anything; if you want a vaccine, make it happen for yourself (travel back home, get your shot and return when you feel like it). 

Just now, ThailandRyan said:

Must have been a PR stunt only then along with the picture of the RTP being assigned to close of the beaches.

 

Wouldn't put it past 'em. Or they might enforce the closure of the beach for the weekend and <deleted> off again next Monday.

22 minutes ago, ThailandRyan said:

Songkhla just today went on a 30 day lockdown and closed its beaches due to case numbers expanding.

Lol, hardly anything resembling a "lockdown". Only difference I have personally noticed is that restaurants inside shopping malls only allow take out. Regular places are all open as usual, so are shops and supermarkets. Did hear something about a curfew, however last time that was announced, nobody seemed to care. 

+1 for Bangkok Hospital at 3900b. Swab taking in the morning, result plus certificate in hand late afternoon.

1 minute ago, GrandPapillon said:

I beg to differ. Fools might use "stable" coins as storage between trades, but that's being very naive and foolish. You would need a base currency to "store" your gains and make your next move. What you are saying is very worrying that anyone could be stupid enough to cross cryptos using dodgy "stable" coins. It doesn't make things safer.

 

Jesus, that tech is full of security holes and latent black swan risk, it's just amazing how anyone could be foolish to engage with those exchanges in any capacity. You just can't win ????

You can beg all you want my friend. That does not change anything though. The beauty of crypto, and DeFi, is that it is all happening on chain, for the entire world to see. Chain analyses clearly show that the majority of DeFi users does indeed use stable coins, or even ETH, to bridge trades. 

But alas, we can't all be as smart as the brilliant @GrandPapillon who apparently has all the answers. 

I am throwing in the towel though. There's just no point arguing about the merits and issues of crypto and DeFi with someone who clearly hasn't made a single crypto trade in his life. 

6 minutes ago, GrandPapillon said:

you still want the ability to buy cryptos with cash instead of relying on cross crypto rates, that are often distorted by each exchange activities

 

prices and rates are not uniform and difficult to compare if you don't use a base currency as the benchmark for making comps

Again, you only need centralized exchanges as an on-ramp; ie to convert fiat (USD/EUR/GBP) into crypto. Once you have your crypto assets, you won't need the centralized exchanges until you want to convert crypto into fiat. 

The world of crypto, and DeFi is extremely sticky in the sense that once fiat has been converted into crypto, the majority stays in crypto. During down turns, corrections and longer bull markets, a large number of people move into stable coins rather than converting back into fiat. And obviously one does not need a centralized exchange to use a fiat currency as a cost base to make comps.

1 minute ago, GrandPapillon said:

amazing, but transfering your cryptos from the exchange to your offline wallet every time you complete a trade sounds a bit like a pain, and very cubborsome

 

It's like asking for your shares certificates everytime you buy a stock, and then resend your certificates when you sell

 

if you are an active crypto trader with dozens in your portfolio, that doesn't sound very convenient for something as revolutionary and high tech as cyrptos ????

Exchanges are only needed as an on-ramp. Once you have your crypto assets, you can simply trade directly from your wallet and there's zero need for an exchange until you decide you want turn your crypto back into fiat.

2 hours ago, fdsa said:

and this is the all time low price. The real average gas price is about 50 gwei which is about $10 USD for ERC20 transaction and $2 for Ethereum transaction. Also note that the final transaction fee is unpredictable in Ethereum network, you can't just set "use 0.0001 ETH as the fee".

Compare that to fees in Litecoin or Dash networks and you'll find out why I am very reluctant to use the largest ones - BTC or ETH.

The current gas prices are definitely not “all time low”. Couple of years ago I was paying less then a cent for a transaction. And there isn’t a “real” gas price; gas prices are determined by an auction mechanism and therefor depend on supply/demand of block space on the network.

Currently the final transaction cost is indeed unpredictable to a certain extend. Fortunately, the London hard fork is just around the corner (tentatively scheduled for late July) which includes EIP1559. This improvement brings a complete overhaul of the gas price situation: there will be a base fee, set by network consensus, which will guarantee inclusion in the next block (nice side note; the base fee gets burned, bringing deflationary pressure to ETH the asset). This will be a massive UX improvement, stabilize the transaction costs and make gas prices more predictable.

15 minutes ago, fdsa said:

unfortunately no, especially when dealing with stablecoins on Ethereum blockchain and small amounts - I've paid 80 USD fee (in ETH) for 1000 USD (USDT) transfer a few months ago.

Gas prices on Ethereum, which end up dictating the final transaction costs, fluctuate with demand for block space on the Ethereum network. A few months ago, these were at an all time high, but they have come down significantly since then. The attached image shows the most recent gas prices and transaction costs. As you can see, an ERC20 token transaction (which would include stable coins) sits at $2 per transaction.

This does not take into consideration using an L2 solution to transfer funds. Transfers on Polygon are so low, they're basically free. 

10 hours ago, The Cipher said:

I'm not sure what benefit there would be in me going further with this other than to argue for argument's sake.

At some point you just gotta stop feeding the trolls my friend ???? I do a lot of work in the crypto space and fortunately get to have daily discussions with both proponents and opponents who do have a solid understanding of the industry and, especially the opponents, who bring actual issues and challenges into the discussions (unlike the regurgitated rhetoric the TV "finance experts" come up with). 

I actually would be very happy to meet up, however I am leaving to Europe next week and won't be back until early next year (possibly later depending on how long it takes for Thailand to get it's <deleted> together). 

3 hours ago, GrandPapillon said:

the dirty capitalists in banking might be dirty, but at least they are running something that works, and without it, you wouldn't have credit cards, technology, large production of energy and global travelling.

 

I never said anything about traditional banks not "working", did I? Although one could, of course, very easily make the argument that banks do indeed NOT work in many cases. Just ask any of those millions (actually billions) of people who do not have access to banking services. 

The fact that the current banking system works for you is great, for you. However, that does not mean that the current system is not extremely inefficient and occupied by layers of rent-seeking middle men who control what you can and cannot do with your money and who has access to this archaic system. 

If history teaches us anything, it is that inefficient systems eventually get replaced by something better, and finance will not be an exception. Whether that's crypto in its current form, in a future form or something completely different remains to be seen. 

3 minutes ago, KarenBravo said:

Kinda loses something when you have to spell it out.

I guess the same applies to the proverb in question, but alas.

I'd assume it's pretty obvious that in the proverb "boar" applies to the domesticated male pig, not to wild boars. 

Anyhow, let's not derail this thread any further with this semantic nonsense...

2 minutes ago, KarenBravo said:

Strange saying. I bet a baby boar would disagree with you.

Alright. Exactly how are tits on a baby boar useful? Or were you possibly confusing a boar (male pig) with a sow (female pig)? 

10 minutes ago, samtam said:

Yup..."just get of the Western vaccines"....mission impossible in Thailand right now.

Or mission improbable, or mission possibly, "we hope so"...

Where there is a will, there is a way ???? 

Assuming the majority of users on TV has been here for a while, we all know Thai governments are as useless as tits on a boar. Plan accordingly I'd say. For the majority of long stayers here, a proper vaccine is but a airplane ride away; supplied free of cost by our home country's governments. 

It really isn't rocket science...

Don't see any real issue here? Just get one of the western vaccines and, unless you want to travel to China, you'd be just fine?

6 hours ago, GrandPapillon said:

banks have insurance, and are regulated, hence why putting money there is not a dumb move

 

but putting money into some "unregulated" custodian run by thugs and criminals, some people are really asking for it ????

Proper exchanges DO have insurance. But I guess we shouldn't let facts get in the way of a nice, uninformed rant ????

- Coinbase: https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured

- Gemini: https://support.gemini.com/hc/en-us/articles/205823016-Are-my-funds-insured-

Anyway, I couldn't agree more with your second statement. Just as one wouldn't put his/her fiat funds in some bank run by warlords in Somalia. That would be, as you'd like to say "asking for it". 

So I guess we are in agreement that this got nothing to do with crypto. Leaving your assets in any unsafe, uninsured place wouldn't be a smart thing to do, no matter what the asset in question is. 

4 hours ago, GrandPapillon said:

and another exchange disappear after an alleged "hack" ????

 

Since you're posting this here, it's save to assume you, somehow, thinks this reflects poorly on the crypto assets that were stolen. How so? 

If a bank gets robbed, or a bank employee runs off with a bank's funds, surely you wouldn't make the same argument?

40 minutes ago, nausea said:

I keep reading bad things about Tether. Puts me off investing. It's really anybody's guess where this is going to go. Of course, the early investors are laughing. Blockchain technology has obviously changed the world, but who will win out is far from obvious. 

Tether is a stablecoin; it is pegged to the USD. Hence, assuming a USD cost base, “investing” in Tether does not make much sense (regardless of whether or not it’s a scam). Tether is mainly used in Latin America as an alternative for actual USD as well as moving between different crypto assets.

The problem with Tether is that is supposed to be a fully collateralized stablecoin; as in every unit of Tether is, supposedly, backed by an actual dollar in a bank account. The problem with Tether is that they haven’t really been forthcoming with disclosure of the collateral they have to back outstanding Tether. Recent disclosures show only about 3% actual dollars; make of that what you will (the numbers can easily be found through Google).

If you’re on the market for stablecoins, there are much better alternatives such as USDC (fully collateralized and publicly audited by well respected accounting firms monthly) and DAI (on chain,

fully collateralized).

16 hours ago, GrandPapillon said:

and things get better and better for cryptos ????

 

Ah yes; the fact that one <deleted> coin appears on the scene and gets rekt, surely must mean that the entire industry is a fraud and its demise is, of course, 100% certain (just as it was 10 years ago). You're so smart ????

1 hour ago, Marvin Hagler said:

This has been addressed already in a previous post...keep up.

"Addressed" is one way of putting it, I guess... Another would be "mental gymnastics" to make reality fit with your preferred narrative. 

1 hour ago, Marvin Hagler said:

If they tested the same as other countries then they would find the same number of cases as other countries. Don’t test, don’t find.

Does limited testing stop people from dying from the virus? If things were as dramatic as some predicted it would be, the number of deaths would be higher. It's pretty hard hiding large numbers of people dying...

Ok, just purely for entertainment value: let's see what spin the braintrust on TV is going to give to this: "El Salvador makes Bitcoin legal tender" https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/

I put my money on:

1. "Chinese mafia and Ukrainian hackers ...." (fill in the dots with whatever you'd like)

2. "Mainstream media? You're seriously going to believe that nonsense?"

3. "El Salvador is run by idiots who do not understand that money simply can not be created by a CPU."

4. "El Salvador? That's not even a real country!"

1 hour ago, The Cipher said:

I've no info or expertise on this, so am not qualified to render an opinion on their skill.

That doesn't seem to be stopping the resident armchair "experts" from airing their opinions. Substance went out the window 2 or 3 posts after the OP; so by all means feel free to weigh in ????

6 minutes ago, The Cipher said:

Not worth the time, huh? I feel you ????

Nah, there's just no point. My energy is better spend elsewhere ????