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petedk

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Posts posted by petedk

  1. On 3/30/2021 at 1:42 PM, Poet said:

    I use Kraken, but have not researched whether other exchanges might be marginally better. I would not use any Asian exchange. Bitkub seems to have had some serious teething problems, and I interpret technical incompetence as an indication of possible deeper problems.

    For starting out, I would not bother with a hardware wallet or any complicated software. Keep it simple.

    Anything related to crypto draws forth a lot of bitterness on this forum. Many of the most active posters are guys who are tech-savvy enough to use a forum, and who would have been aware of Bitcoin years ago, but simply didn't get into it back then. Perhaps they meant to but, like so many, never got around to actually laying down money and, now, feel they have "missed the boat". What you are seeing is an emotional reaction, not a logical one. Think about how you would feel in the same position.

    You always hear that phrase relating to Bitcoin, "missed the boat", and it has never been true.  Sure, the best time to get into it was a decade ago when it cost 8 cents, but the second-best time has always been "today", whenever that happened to be. The important thing is the decision to take action and actually invest some money.

    I have a lot of friends who I would describe as "Bitcoin-curious" and I always tell them to open a free account at a reputable exchange, transfer in $100, and buy some Bitcoin. Ignore all the other coins, no matter what hot tips you hear on YouTube - the factors I describe further down in this post will only fuel the rise of Bitcoin and, to a lesser extent, Ethereum. They are Coca-Cola and Pepsi of crypto.

    Then, completely ignore your investment until the end of the year. The value will swing around like crazy, no one really knows whether it will be worth more or less tomorrow, but the general medium-term trend has always been upwards.

    You should have a very nice surprise at the end of the year - my guess is that $100 invested today should be around $350 - and then you can decide whether you want to explore crypto more deeply. Just don't invest your $100 today if you will need it back next week.

    *** Important point: You do not need to buy an entire Bitcoin, you can invest as little as a dollar if you want, it will still go up by the same percentage ***

    So many of the people posting negatively on this thread said exactly the same things in a thread around the New Year, when Bitcoin was under $20K. Same for another thread, around the time of the Covid crash last March, when I urged everyone to get in at $5K. It was very clear to me that the pandemic had created an anomolous opportunity, and that the same factors would soon push it far higher.

    I have quite a bit invested in Bitcoin and a lesser amount in Ethereum. I could withdraw it all in minutes and invest it elsewhere, but I keep it in crypto because I understand why it has gone up 12x over the past year and that we are only at the beginning:

    Unprecedented levels of stimulus spending debasing fiat currencies worldwise, money sloshing around the world pushing up all asset prices, the looming shadow of crushing taxation to pay for the Covid overreaction, political instability in almost all countries, massively increased use of the Internet and faster introduction of entirely new populations in poorer countries, increasing adoption of Bitcoin by corporations and financial organizations clearly heading towards a tipping point, increasing mainstream awareness as a number of major exchanges head towards IPOs, and far easier on-ramps for consumers all over the world to own Bitcoin via their familar banking apps.

    All of those factors, which have pushed Bitcoin up 12x over the past year, and 3x over the past three months, are only just beginning. Financially, the next two years are going to be rougher than anything we have seen in our lifetimes. The damage caused by the overreaction to Covid has been far more expensive than any war, and has quite clearly deranged significant portions of the public. The relationship between governments and their citizens has changed, and the inevitable increases in taxation, combined with the plummeting value of savings, benefits, and pensions are going to drive unprecedented levels of unrest and harsh crackdowns.

    Just to be clear, while good for those of us with Bitcoin, all of this will be absolutely terrible for the vast majority of people on this planet. The stress and strain of the lockdowns are nothing compared to what is coming down the pike. Life is about to get a lot more expensive.

    Some of the members here are on set pensions denominated in their home currencies. Unless they find an effective way to hedge against the debasement of those currencies, many will end up having to sell their houses in Thailand and return to their home countries to live out their remaining years in a far more limited way.

     

     

    An interesting post and I agree with you.

     

    I joined registered with Kraken a few months ago, but my problem is funding my account. They suggested Etana as a means of transferring funds, so I registered with Etana, but after a couple of months my account still hasn't been approved.

     

    Today, I tried registering with Binance and succeeded, but my bank(s) refused the credit card transfer.

     

     

    • Like 1
  2. 15 hours ago, recom273 said:


    Just out of interest .. when you enquired about the machine, what mother board did they suggest? and what reasons did they give to sell the motherboard? 
     

    I started off with one build on a B450 following a suggestion and because it was the cheapest to suit the processor and then the following build I used an X570 after I did a bit more research, but was mainly lead by manufacturers blurb. (I’m not suggesting these as gaming mobo, just suited my needs)

     

    They suggested a Gigabyte B365M (gaming board). 

     

    My problem was that I went in to buy a new power supply. I had previously thought about buying a new PC as the one with the faulty power supply was 7 years old, but still fast enough to suit my needs.

     

    Anyway, with a new power supply costing 2,000 Baht and the fact that I needed a PC for my work, I decided to "look at" the prospects of building a new one. I had already some idea of what type of processor and how much ram I needed, but hadn't considered the motherboard. I never play games. I basically use the internet and MS Office and video editing. 

     

    I think if I had spent more time researching the market, I may have "upped" the specifications a little. Anyway, I am pleased with what I have and I was certainly pleased with the price. I was expecting to pay 20K or something like that.

    The only negative thing I can say is that there is no Bluetooth. I really didn't think about that and assumed that was standard, but to tell the truth I never use Bluetooth on the desk top.

    haha while writing this, I decided to check for Wi-Fi. It seems there is no Wi-Fi, but I use LAN anyway and get a speed of around 890 Mbps.

    • Like 2
  3. Clearly this man's death has nothing to do with the vaccination, but what I would like to know is just how many vaccinations have been given so far in Thailand. How many people have suffered minor side effects?

     

    Is it in the hundreds, thousands, hundreds of thousands of vaccinations? I have searched, but can't find any numbers.

     

    Most countries publish these numbers as they are proud of the progress. 

     

    • Like 1
  4. 5 hours ago, CelticBhoy said:

    A Somchai with assets of 800+ mlln Baht.

    What are the odds on him doing any time then?  ????

     

    That's not much. 

    The company near us boast of 2 Rolls Royces, BMWs, Body Guard services, Private helicopter, private yachts, lots of luxury villas at 60K per night, escort services and special events (whatever they are).

    All Chinese owned. I don't have to say more.

    • Thanks 2
  5. 24 minutes ago, George Bowman said:

    In 1999, I was a brand new professor working at Bangkok University making B24,500 a month. One weekend, I visited the Hard Rock Cafe for a bite to eat. Talk about expensive, a hamburger was B300 something. But the live band was worth the trip and I was impressed by their level of English. A few months later, I went back and a burger now cost B350 and I also learned that the band members were not Thais at all but were from the Philippines. Never did make it back and I wonder what a burger costs now...

     

    I remember I also came in 1999 and was earning 28,000 baht a month and was surprised at the 350 Baht price tag.

    Now in 2021 I am earning a little more (30,000 Baht), but the burgers cost double what they cost then. I haven't been there myself, but my friend said 600 Baht.

    • Thanks 1
  6. 3 hours ago, AlfHuy said:

    60K each day? Wow, that must be a super mansion.

    That's what their website says.

    As I said there are 2 houses, door to door and there is 1 Chinese man in each house (plus an assortment of girls in the evenings)

    They used to cost 200K a month and were usually occupied by British expats. Then the Chines bought them and the price is 300K a month or 60K a day.

     

    They are not super mansion, but i think there are 5 bedrooms. I think it is the location that drives the prices up.

     

  7. 16 minutes ago, dbrenn said:

    I don't blame you for telling them not to throw fireworks at your dog, but it's always better to avoid people like this and look the other way. If they're that cashed up, and if they are criminals, then they'll have enforcers in tow as well as pretty girls. Let the cops deal with it, assuming they're not part of it.

    I agree with you entirely. I had difficulty in holding the dog as she panicked, as I was walking past. It was an uncontrolled outburst.

    Pretty sure the cops are involved. I have seen "things happen early in the mornings"

    • Like 1
  8. 22 hours ago, bradiston said:

    Incredible isn't it (or not). Every day I read about yet another online scam. And 99% mention Chinese involvement and/or backing. So what's the love affair with the Chinese? Costing the country millions.

    Maybe that's why 2 Chinese men have been renting (staying at) 2 houses near us for the past 10 days. The houses cost 60K a day each. The men NEVER go out. All food and 3 or 4 girls are delivered to them every day. Yesterday the girls went shopping alone. Today there were about 15 - 20 paper bags outside from Prada, Channel, Moschino, Gabbana and others. At 8 am the girls were picked up one by one and I noticed that the cars were already full of similar bags. The same girls are delivered to all the parties.

    The houses are owned by a group of Chinese men who rent them out for parties (always Chinese guests). Once when there was a group of 15 or so and they were very noisy and threw fireworks at my dog, I exploded in anger and said "Now I am going to the police". I am not joking, in less than 3 minutes they had grabbed all their belongings, jumped in the cars and were gone.

    Sometimes 20 or so men arrive and they sit indoors VERY quietly. I wonder what they are doing.

    No point in going to the police as we are sure they know what's going on. 

    • Like 1
  9. 4 hours ago, Henryford said:

    I am always amazed at the number or Benzs (and BMWs) on Thailand's roads. They must cost around 8 times the average Thai's annual salary. It's like people in the West paying $300,000 for a car.

    Nor sure what a Benz costs, but as I said I saw Rolls Royce on red plates. I looked up the price - 50 - 60 million.  (and these people had 2 of them)

  10. On 2/27/2021 at 1:44 PM, Hawkman said:

    With the website (frustratingly) down; will send by mail. My 90 day report is due on the 9th March; does anyone know if the 15 days 'before' requirement by mail includes the 7 days after? Or am I too late? As the website is down, I'm 'hoping' they will be a little lenient.

    'Your registered mail must be sent to the Immigration office at least 15 days before the due date of notification.'

    That's the same date as mine. I will send by mail tomorrow with a note about me waiting for the online system to come up again. Let's see what happens.

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