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oakweb

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    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    There are too much people who believe they will miss the boat with Bitcoin.

    A classic trap.

    I wish i knew of some short positions i could buy. I would 'invest' some in that.

    Bitcoin without the drugs trade is pretty small. It is not even anonymous, it is the best traceable currency ever! The drug enforcers dream come true.

    And i don't count 99% of the merchants who only use Bitcoin as a payment system that transfers directly into their own currency as companies that use Bitcoin.

    They just use the irreversibility of the transaction to their advantage.

    Unless that is changed buyers will prefer credit card and paypal. Ultimately it is what buyers prefer that counts.

    Bitcoin at 50US$ within a few months.

    "a classic trap" sorry I don't know what that means, if something in popular it's a trap?

    Yes it's traceable, so is Paypal, so are Credit Card Companies.. your point?

    You don't have to count the merchants, but I surely will. As far as reversibility goes, I'm betting customers are more upset with the huge transaction fee's. If you deal with good companies you don't have to worry about reversing charges. And reversing charges is not perfect with Paypal or Credit Cards either.

    But hey don't take my word that Bitcoin is revolutionary, maybe hearing it from a Bank of America might make you think so?

    https://smallbusinessonlinecommunity.bankofamerica.com/community/running-your-business/merchantservices/blog/2013/10/09/beyond-cash-or-credit-exploring-alternative-payment-solutions-for-small-businesses?utm_source=SBC_Newsletter&utm_medium=EmailSBC&utm_term=More_Article_8&utm_content=SBB&utm_campaign=Nov_2013

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    But in five years you can only buy one egg for that $3500. smile.png

    BTW buying 500 bitcoins would cost 200.000US$! A little diffrent then trying something for 20.000 GPB.

    At the moment you have 99% change it goes down and 1% it goes up.

    Wait until it goes down at least 80% then buy some.

    Maybe only have to wait a few days, you never know when one of the server on mount Gox goes offline for a while.

    Never ever buy at the top!

    I think you are confused, you think Bitcoin is like a stock. Bitcoin is being adopted as digital currency by more individuals, merchants, stock exchanges, companies, and countries every day. The adoption and increase user base guarantee's the increase in price IMO. If you think it's going to drop, IMO, you are waiting for something that won't happen.

    All we need is one large merchant, e.g. Ebay, Amazon or any other Fortune 500 company to start using it on their website, and the price will go to $1000. I believe we are very close to this happening.

    Bitcoin is at it's highest price ever in a market with wild volatile swings in price.

    Do you really expect me to believe that the current price (the highest ever) is the lowest it will ever be again and that the volatility has now vanished because some large company might use it ?

    This reminds me of what people were saying in the first days of April right before Bitcoins 'value' plunged from the then all time high of $266 to $50 in the space of a few days.

    I guess it comes down to whether or not you believe it will become common place, whether it will become accepted. For me I think it will. For me to "believe" it will go higher, is as easy to understand that I believe it will become more widely used and soon. Prices will go up with more users and more sites using it.

    Also about those early days, with sites like Silk Road dragging it down it was a volatile time. Now with China using it, Canada with ATM machines, and sooner or later a large retailer embracing it, there won't be anything holding it back.

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    But in five years you can only buy one egg for that $3500. smile.png

    BTW buying 500 bitcoins would cost 200.000US$! A little diffrent then trying something for 20.000 GPB.

    At the moment you have 99% change it goes down and 1% it goes up.

    Wait until it goes down at least 80% then buy some.

    Maybe only have to wait a few days, you never know when one of the server on mount Gox goes offline for a while.

    Never ever buy at the top!

    I think you are confused, you think Bitcoin is like a stock. Bitcoin is being adopted as digital currency by more individuals, merchants, stock exchanges, companies, and countries every day. The adoption and increase user base guarantee's the increase in price IMO. If you think it's going to drop, IMO, you are waiting for something that won't happen.

    All we need is one large merchant, e.g. Ebay, Amazon or any other Fortune 500 company to start using it on their website, and the price will go to $1000. I believe we are very close to this happening.

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    I purchased a 2nd laptop that would not go on-line, specifically for storing my wallet details with backups of the Bitcoin address's I was going to use to purchase 500 Bitcoins at 40GBP (20,000) some time back. It was all in place and I was ready to buy from a seller in person to avoid being scammed on-line. In the end I bottled it, something was telling me don't do it, so I pulled out.

    Today they would be worth 132,500 GBP!! som nam bluddy na!! my own fault for not going through with it!!

    I also remember PayPal in '99 looking for investors, when I read the concept I laughed, send money to someone via an email address in seconds that will never work are they serious!!

    sad.png

    Buy those 500 again, wait 5 years and you could see Bitcoin at $3500 a BTC, that would be a nice return on your money. I really don't think it will go lower.

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by oakweb

    Bitcoin is finite. Let's say that all the Bitcoin that can be created is created.

    Now let's say that the sneaky Satoshi guy decides to make

    Bittycoin which is just like Bitcoin except it is called BittyCoin and the process all starts over again.

    But Bitcoin is finite guys. Bittycoin has a different name.

    And anyone would just suddenly abandon Bitcoin and run to Bittycoin for what reason?

    No reason, It's also like saying someone else can create a new Internet, and call it Internet-2.. it's possible, but who is going to use it and what about all the hardware that is needed to run it. Now there are hundreds of thousands of miners making it happen for BitCoin, and also websites and merchants that accept it.. and growing daily.

    I think the biggest misconception is the technology, I too didn't do my due diligence of reading and understanding it before judging it. I had my chance to get in early, and really should have seen how brilliant it was.

    Anyone interested in purchasing Bitcoins can make an account at http://Coinbase.com , they are out of San Francisco and are very reputable.

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    True, many will scold you in the forums not to try mining. Telling you it's a waste of money. In my guild though someone is doing 25TH/s, which is an amazing amount of processing power.

    I have to say, so far it's been incredibly fun being a digital miner. If I loose it all, no regrets. I love checking my Guild page and seeing how lucky we were at solving the blocks. Some days

    are better than others, but so far it's pretty good.

    I only wish I could get the KNCMiner Jupiters from Ebay, no one is selling now, and certainly not at the price I paid 4 weeks ago.

    Currently I'm mining around 2.26646226 a day = $856.00 a day, all the hardware I purchased to do it has increased by 20%.. so I'm happy. If it's like this in 5 months, I'll be very happy.

    Congrats on your success! I'm glad to hear stories like this. But I think you'll agree that there are many others who had miners that were out of date before being delivered etc. This is a part of the story where I know I don't know enough to make the investment and have it pay off. My general impression of somebody that doesn't know about mining is that they probably aren't the best person to go into it.

    Thank you, I agree mining is not for everyone. These units generate a lot of heat and use large amounts of electricity. I think purchasing bitcoins is probably best course of action for anyone interested. Everyday it's becoming more accepted, and when the big retailers adopt it, it's going to sky rocket --- IMO! smile.png

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    The miners are specialized and called ASICS and frankly it's turned into an arms race now. From everything I read, individuals have a very difficult time now to recoup their investments in mining gear.

    Bullish on Bitcoin! I'm mining at a current rate of 2.3 TH/s with 5.2 TH/s hardware on the way.

    I don't really know much about this 'Bitcoin Mining', I've only purchased my Bitcoins so far but Isn't that quite a lot of hardware ?

    I'm not going to start mining these coins but where do you get this hardware from and is it expensive ?

    It's basically impossible to making more bitcoins mining than you spend (at the moment).

    For example you spend 20bitcoins to buy equipment, but the equipment only ever earns back 10bitcoins in it's useful life.

    You might make a fiat profit (ie you spent 20bitcoin which at the time was worth $1000, but only earned back 10BTC which is now worth $4000 etc...) but in this case you would have been better just to buy and hold 20BTC to begin with and never do any mining.

    Price will be effected by this, because miners want to earn a fiat profit, thus the only way for them to do this, considering they cannot recoup their bitcoin investment, is try sell their bitcoins for more.

    Of course every miner will tell you not to mine even if they were making a killing, because every miner added to the network will dilute their earnings.

    It's a wonderful system of checks and balances all controlled by market forces.

    True, many will scold you in the forums not to try mining. Telling you it's a waste of money. In my guild though someone is doing 25TH/s, which is an amazing amount of processing power.

    I have to say, so far it's been incredibly fun being a digital miner. If I loose it all, no regrets. I love checking my Guild page and seeing how lucky we were at solving the blocks. Some days

    are better than others, but so far it's pretty good.

    I only wish I could get the KNCMiner Jupiters from Ebay, no one is selling now, and certainly not at the price I paid 4 weeks ago.

    Currently I'm mining around 2.26646226 a day = $856.00 a day, all the hardware I purchased to do it has increased by 20%.. so I'm happy. If it's like this in 5 months, I'll be very happy.

    • Like 1

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    I don't really know much about this 'Bitcoin Mining', I've only purchased my Bitcoins so far but Isn't that quite a lot of hardware ?

    I'm not going to start mining these coins but where do you get this hardware from and is it expensive ?

    The miners are specialized and called ASICS and frankly it's turned into an arms race now. From everything I read, individuals have a very difficult time now to recoup their investments in mining gear.

    I have no power costs, or cooling costs. I have my Asics in my data center. I think it's hard for the average person to mine now, in the past you probably could. With my investment I'm still a few weeks away from getting it back. If you want to get

    into Bitcoins, buy them now. Put them away and wait, you could be pleasantly surprised in a couple years.

    I do have in my house a little USB hub with some asics making .75 a day now, I purchased them 4 weeks ago and already made my money back on them.

    post-6358-0-98808400-1384349382_thumb.jp

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    for a asset class that has so much inherent risk it is bizarre that risk aversion / paranoia is often cited (and often really is) a motivation for its "investors"

    bitcoin has first mover advantage like any other new product - however, followers often end up on top (and often render the first mover obsolete)

    if bitcoin gains global and widespread recognition/ popularity as the preferred medium of exchange for online transactions (and acceptance by governments/ law enforcement agencies) those who buy bitcoins now stand to potentially make a very good return (depending on how much of that potential is already priced in)

    if on the other hand, bitcoin does not achieve this, those same "investors" may well lose all/ nearly all of their investment

    Brit1984 I don't believe that Bitcoin is needing acceptance from any agency, it is already gaining in popularity with merchants. All signs indicate that agencies do want to step in to put some type of control (much like they want to control

    the Internet) but not sure what any approval they can provide to a system that is in place, and operating fine.

    As an online merchant I welcome it, as will many others, regardless of what agencies think of it.

    much of the internet is controlled but most governments / law enforcement agencies do not want to ban the internet altogether (although in some countries they have done so quite successfully)

    banning the use of bitcoin in certain jurisdictions would pose serious problems for its viability / value - and although some online operators will find ways around the law (as do many other cyber criminals) the value of bitcoin would be much lower if using it is illegal

    although it would have to become a lot more popular than it is now for any such governments / agencies to really care to start passing laws, allocating police resource, etc

    Sorry I just don't see this happening.. "illegal to use Bitcoins". I've been an Internet Service Provider since 1994 and online since 1989, your concerns in my book are pretty far off my Internet reality scale. With so many prominent computer scientist

    giving Bitcoin their approval nod.. search google if you like on that. Here is another good read about "banning" http://www.forbes.com/sites/jonmatonis/2013/01/28/government-ban-on-bitcoin-would-fail-miserably/

    Good luck on trying to make Bitcoins illegal now, I think they are smarter than that.

    Bitcoins banned in Thailand

    in Jobs, Economy, Banking, Business, Investments

    Posted

    for a asset class that has so much inherent risk it is bizarre that risk aversion / paranoia is often cited (and often really is) a motivation for its "investors"

    bitcoin has first mover advantage like any other new product - however, followers often end up on top (and often render the first mover obsolete)

    if bitcoin gains global and widespread recognition/ popularity as the preferred medium of exchange for online transactions (and acceptance by governments/ law enforcement agencies) those who buy bitcoins now stand to potentially make a very good return (depending on how much of that potential is already priced in)

    if on the other hand, bitcoin does not achieve this, those same "investors" may well lose all/ nearly all of their investment

    Brit1984 I don't believe that Bitcoin is needing acceptance from any agency, it is already gaining in popularity with merchants. All signs indicate that agencies do want to step in to put some type of control (much like they want to control

    the Internet) but not sure what any approval they can provide to a system that is in place, and operating fine.

    As an online merchant I welcome it, as will many others, regardless of what agencies think of it.

    What are the ways to make living/money as an expat in Thailand?

    in Jobs, Economy, Banking, Business, Investments

    Posted

    "1.b. Extending on the above, don't even think of starting "anything digital" (you mentioned a website?). Thai's have absolutely no appreciation for any of that. An iPhone/Samsung is there to feed Facebook and that's the end of the use of IT in Thailand. Websites are regarded a waste of money, no one looks at it, emails are not used by most normal "thai business people". Thailand is a truly "special place" regarding IT, Just forget it........ !!"

    I believe he is speaking of setting up a website for Farangs about Thailand. Probably a 1000 domains like that, but there is always the possibility of doing it better than everyone else out there. Make me an offer for my domain

    ThailandTravel.com or Thailandinfo.com , I should have done something with them by now.. too lazy.

    brainless, naive talk...

    Who are you referring to as Brainless?

    What are the ways to make living/money as an expat in Thailand?

    in Jobs, Economy, Banking, Business, Investments

    Posted

    "1.b. Extending on the above, don't even think of starting "anything digital" (you mentioned a website?). Thai's have absolutely no appreciation for any of that. An iPhone/Samsung is there to feed Facebook and that's the end of the use of IT in Thailand. Websites are regarded a waste of money, no one looks at it, emails are not used by most normal "thai business people". Thailand is a truly "special place" regarding IT, Just forget it........ !!"

    I believe he is speaking of setting up a website for Farangs about Thailand. Probably a 1000 domains like that, but there is always the possibility of doing it better than everyone else out there. Make me an offer for my domain

    ThailandTravel.com or Thailandinfo.com , I should have done something with them by now.. too lazy.

    Doggie Door Solution for PVC Type Doors

    in Pattaya

    Posted

    Hello All, If you have a dog and would like a doggie door, I know the company that can do it. They were very affordable at 2000 baht to take the
    door out, and cut in the door for us (PVC type door). We brought the actual flexible see through plastic door from USA, but pretty sure they can find a suitable
    plastic that could be used for the same purpose.

    doggie1.jpg

    • Like 1
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