Conno

Neeranam - Let the no-coiners just stay no-coiners it's pointless even answering them. As you say why do they even bother commenting on a crypto thread? They will just keep saying the same thing as they always have from when Bitcoin was $10 - $100 - $1000 - $10,000 - $69,000 and they'll be saying the exact same thing when it hits $100,000 - $250,000 and maybe eventually one day $1m. Even if it never hits those numbers and goes to zero it is beyond me why they get off on lecturing crypto people on how smart they are and how dumb we are. Point is, if and when we do hit new all time highs they still won't admit they were wrong and will either A. Never be heard from again B. Tell us it is in a bubble and just one big ponzi scheme. If it does go to zero what is it to them? It's our money our lives and our choice. Maybe they are all related to Peter Schiff or maybe they have some form of born again Christian syndrome and are just trying to save their fellow man from ruin 55555. April 2013 BTC April2013.mp4

It's a subsidiary of Binance. Suppose a little like how Binance US was a subsidiary to the parent company Binance [Global] Gulf Binance is a partnership between Binance and Thailands alleged 2nd richest man. Must be nice huh 5555. The difference is that this company has been created to meet and satisfy the requirement specific to the rules and regulations of Thailand. Therefore allowing direct on and off ramping of Thai Baht. https://www.forbes.com/profile/sarath-ratanavadi/?sh=6e04cc3d49d7

Aha right, thx for updating us on that.....so the by invite only statements in the press releases were correct. The same press releases also said they would be open to general applications early in the New Year.

OK first hoop to jump through, found this in the T&Cs. If it is a one off then not such a problem but not very convenient. *In case of a non-Thai national, from step 7 onwards, you must attend and complete these steps at the Company's office. You must also bring the following documents for verification: your original passport, work permit, visa, or national ID card. Once the verification process has been completed, we will notify you of the results via email. https://www.binance.th/en/terms/terms/4aefcc734230446e99bb8f47cf04851c

Mine works just fine too and I'm not married either....but clearly this isn't the case for many recently which is the whole point of this thread. Lets see what happens on your next KYC update. You may be fine or.......

Appears that Binance have overcome the issues they were having recently with the Thai SEC Haven't registered yet but will do in the New Year. Hopefully this is the exchange we have all been longing for. PS. The competition are probably shaking in their boots, about time considering how we have been treated. PSS. Also not sure at this stage how registration will go for non Thai's. If you discover anything pertaining to this please post below. Thx fingers crossed. Good luck in 2024 https://www.binance.th/en

AdvancedBooking - Gulf Binance not the standard Binance and it appears it has already launched which is absolutely fantastic news. Initially the reports that were coming out were casting a bit of a shadow over the venture - https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-11-30-story-h-213415622-Binance_8217_s_Reboot_Faces_Test_in_Thailand_After_US_4_3b_US_Fine The first reports were also stating it would be initially invite only until 2024 but check this out.....I think we have not just an alternative but a fantastic alternative to solve liquidity issues. I haven't attempted registering yet but will be very soon in the NY, so have no idea how easy it will be. I think we can all safely say it will be an easier company to have a relationship with than YOU KNOW WHO lol. https://www.binance.th/en

55555

Yip they have lost the plot it seems. I can see consequences for operating such a business model. Getting a bad rap on forums such as this is not a good way forward.

That's good to hear. So they accepted a Euro driving license even though you have registered with them using a Thai address right? Interesting.

Last communication I had with them was on my last KYC re-verification [early 2023] and as you say it was an absolute infuriating exercise in stress, frustration and seemingly incompetence too. I sent them a feedback review afterwards advising them that they were the worst financial organisation I have ever had the displeasure of dealing with. At that point in time the non-Thai KYC system was still operational, so I can't begin to imagine what they are like to deal with today. I noticed that yet again they have updated their notice related to this, now dated 1st Dec 2023. It is still stating that their non-Thai KYC verification system is 'temporarily' unavailable due to the system being upgraded. How long is this now? I believe it was originally announced 'Temporarily' unavailable in June/July time frame. Clearly this isn't the truth as it doesn't take 6 months to upgrade something like this. It appears to me they have decided to implement some form of covert policy to gradually remove non-Thai account holders through attrition. I'm wondering how that court case is progressing that another user on here mentioned. I believe it was in some way related to them discriminating against foreign account holders. Ironic isn't it. Crypto was originally created to free the individual from this kind of middle man counter-party control. In Bitkub's case they have managed to even surpass traditional finance in this regard.

I haven't tried registering yet, probs early next year but from what AdvancedBooking has been saying I imagine the National Identification Card would be your Passport. As you say you are not Thai so why would you have one of those. illogical. I also don't believe your Oz driving license would be any good either as that is probably registered to an Oz address right? The info they need is to ID you in Thailand not your home country. So, if I were you I'd just try uploading your Passport data/picture page along with all your current Visa stamp pages. Good chance those instructions are just losing something in translation. If you notice they also ask in the first section for non-immigrant visa or Smart Visa [whatever one of those is?] According to posts above a Thai Elite visa [Privilege] is also acceptable even though it isn't listed as an option. If you get rejected get back to them and explain your circumstances. Other non-Thai's who are resident in Thailand have been accepted so obviously it is possible.

Ben Stark - You are still not getting it. It is 9x as the original poster stated. 10x not entirely accurate but under some circumstances it can be [as explained below] but if that's what you want to focus on then fair enough. However after saying that they can do as they like. As Mike Maloney states some use a reserve of ZERO not even 10% so now that looks like it's getting close to infinite currency creation to my mind. $100 deposit can and does create $1000 new credit because the cycle repeats and repeats. That $90 is the initial amount but then the cycle loops over and over again. Here it is in video format for you. Skip to the 06:45 timestamp. PS. Your investopedia link calls currency 'MONEY' it isn't. Currencies are credit, not money. Only Gold and Silver are money.....and possibly Bitcoin these days too some may argue. The digital Gold.

It's called fractional reserve banking my friend. He's 100% correct. Biggest scam on the planet and not 1 in 10,000 are aware of it.

I'd say you got it 100% right with one addition. Fiat is a bigger scam than crypto ever was and has been since fractional reserve currencies were dreamed up. But not 1 in 10,000 probably understand that my friend. Plus we have the new version to look forward to - CBDCs - If they are accepted globally then it's game over. Imagine getting free money then only being able to spend it in a 4km range of your cell lol. Later they'll say 'You've used your carbon allowance for the month no more travelling for you sunny Jim'. Or how about taxing you directly out of your wallet. Just think of the entertainment factor of watching your balance drop on autopilot 55555. Glad I'm an old git.

CARF is coming - Crypto Asset Reporting Framework. Be aware and plan accordingly. https://www.gov.uk/government/news/uk-leads-international-crackdown-on-crypto-tax-evaders https://www.gov.uk/government/publications/international-joint-statement-on-the-crypto-asset-reporting-framework/collective-engagement-to-implement-the-crypto-asset-reporting-framework

Thx for the update. Sounds like a breath of fresh air compared to Bitkub. Yea Asiannow had a DDOS attack on their server provider apparently but we are back now. I'm going to wait until the New Year [Upbit] as I will have some new funds in my bank account by then that will show a healthier balance if they request bank statements for lvl 3-4. Plus I'll apply for Gulf Binance too as soon as it is launched to the general public. It will be such a relief not having to deal with Bitkubs draconian business practices. Thx for all the info you have shared. Good luck in 2024 I think it's going to be a good year.

In which case it is pretty much futile trying to stay anonymous then. Given that, this may be another option for those looking to avoid Bitkub account verification headaches. Binance, in the form of Gulf Binance will be available to the majority in early 2024. https://cointelegraph.com/news/binance-launch-thai-exchange-joint-venture-with-local-energy-giant

Advancebooking. Can I ask again please. No Thai Baht transactions below Lvl 3? Do you know what is required for Lvl 3 verification?

One further point did you see this deposit/withdrawal table from UpBits website. https://th.upbit.com/service_center/guide You can deposit and withdraw crypto at Lvl2 but it is saying you can't deposit or withdraw THB on Lvl2? The table seems to be saying you can't do any deposit or withdrawals of THB transactions on any level other than Lvl 3? What is required for Lvl 3 do you know?

This is really good to hear about UpBit. Thx for taking the time to help all of us frustrated Bitkub users. My account is still active with them at the moment but it's probably only a matter of time before they do the same to me. Please keep us updated on how things go for you over the next few weeks and share your experiences with the depositing/withdrawing procedures over at UpBit etc. I'll get around to registering with them sometime soon.

Thx YaDongimproved. Got my girlfriend to translate this for me and it appears they are apologizing for not having the foreigner based KYC system in place. Plus it seems that this particular non-Thai's account currently has no restrictions applied to it if my GF has interpreted it accurately. Which appears to contradict JohnyBoy777's experience from the other thread on this same subject. You appear to have the right connections to keep us up to date. Please continue to share anything new that develops related to this story. It's important especially when crypto appears to be entering its 4th Bull run cycle. Big thanks.

Go over and look at the recent post on this issue on the other thread linked below. As I said earlier I believe what they are doing to you is illegal and against the constitution. I asked my GF to translate the case related correspondence and it appears Bitkub are apologizing for their failures. I still don't think we are getting the full story here but they do appear to be admitting they do not have a legal basis for restricting your account purely on the fact that they still don't have a non-Thai KYC system operational. It appears that the account of the non-Thai in the reproduced document shown, doesn't have any restrictions on his account. Could have lost something in translation from my GFs interpretation but good to know that at least the issues is now under the spot light. https://aseannow.com/topic/1311267-bitkub-is-asking-for-kyc-again-after-logging-in-kyc-is-disabled-for-foreigners/?do=findComment&comment=18492119

I think what JBChiangRai is saying is that any tokens you had on the exchange after your KYC has expired remain accessible, but only for selling for fiat and then transferring out to your nominated bank. Or withdrawing the same tokens back into your own self custody wallet. No more deposits of crypto or fiat post KYC expiry. It's absolutely mind blowing and unacceptable treatment of a customer who has held an account with them for 5 years. While they haven't made any official announcements that they no longer desire non-Thai accounts, it sure does appear as if this is what is unfolding behind the scenes. All the while hiding behind these announcements that the non-Thai KYC updating system is temporarily unavailable. They are either planning on making this an official policy in the near future or if not, it is just another example of their ineptitude. Either way not a good picture to behold.

JBChiangRai - Yes I can see that too in the short term, however outrageous such a rule change would be against honest gentlemen. Plus lets not forget also against the very ethos of crypto i.e. financial sovereignty. I have only ever bought crypto with baht. Baht that was remitted into the country from overseas with zero baht earned in the country. I'm on a tourist visa so not allowed to work so that's a given. If such a restriction were ever to be implemented someone such as myself would be basically screwed. How would a long term expat Hodler ever be able utilise the crypto they have diligently accumulated over the years if this change ever came about? It would be stranded crypto in other words. I understand we are only speculating at this point in time, but you have to be asleep to not see where this is heading. However I do feel there is hope. I say in the short term because I firmly believe in the medium to long term they are trying to hold back a tsunami here. ukrules Matrix meme once again. Basically the fractional reserve Matrix currency system is broken beyond repair. Virtually ALL governments are in $trillions of debt and as usual they either start wars or go after the peasants when attempting to bail themselves out of their self created mess. Therefore if you look back over history this same thing happens over and over again when the end of Empire moment approaches. We can all feel the noose tightening. Even when playing by the rules, it increasingly feels like we are viewed as some sort of criminal when just trying to safeguard our own financial survival. You don't need a crystal ball to see all of this is the foundations being formed for CBDCs, what I like to call Slave Coins. I believe ultimately they will fail, humanity does tend to sleep walk into one crisis after another, but eventually people see things for what they really are and then just start saying...... No, Enough. Never give up. Never surrender.