Otis Cribelcoblis Posted January 31, 2019 Share Posted January 31, 2019 8 months ago I bought some gold. Enough gold to fund the bank account to the tune of 800,000 baht. In the last few months, my gold has appreciated 2770 Dollars as of today's value. How much would I earn by leaving that 800,000b in a Thai bank for 6 months? Anyone here willing to toss that amount of money or am I the only one concerned? 3 2 Link to comment Share on other sites More sharing options...
Popular Post jackdd Posted January 31, 2019 Popular Post Share Posted January 31, 2019 8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account. Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today. Anyone here willing to toss that amount of money or am I the only one concerned? 6 11 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted January 31, 2019 Author Share Posted January 31, 2019 Just now, jackdd said: 8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account. Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today. Anyone here willing to toss that amount of money or am I the only one concerned? Are you mocking me? Bitcoin is fools gold. But for you, it might be a great investment. Is there a reason you didn't respond to my question? 1 Link to comment Share on other sites More sharing options...
ocddave Posted January 31, 2019 Share Posted January 31, 2019 1 minute ago, jackdd said: 8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account. Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today. Anyone here willing to toss that amount of money or am I the only one concerned? So investing in Bitcoin or Thai Baht, is like throwing money out the window? Check! 2 Link to comment Share on other sites More sharing options...
jmd8800 Posted January 31, 2019 Share Posted January 31, 2019 We are all adults here. The choice is your to make. 1 Link to comment Share on other sites More sharing options...
edwardandtubs Posted January 31, 2019 Share Posted January 31, 2019 1 minute ago, Otis Cribelcoblis said: Are you mocking me? Bitcoin is fools gold. But for you, it might be a great investment. Is there a reason you didn't respond to my question? He did respond to your question. 2 Link to comment Share on other sites More sharing options...
jmd8800 Posted January 31, 2019 Share Posted January 31, 2019 Being serious... if expats saw the 800K (or whatever the individual uses to qualify for visa or extension) as a cost of living like food and shelter ... then they would realize that that money is not money for investment but rather an expense. It is a part of the expense of you living in Thailand. 1 Link to comment Share on other sites More sharing options...
Popular Post baansgr Posted January 31, 2019 Popular Post Share Posted January 31, 2019 14 minutes ago, jmd8800 said: Being serious... if expats saw the 800K (or whatever the individual uses to qualify for visa or extension) as a cost of living like food and shelter ... then they would realize that that money is not money for investment but rather an expense. It is a part of the expense of you living in Thailand. Thats just it....its supposed to be for living expenses, however the new rules dont allow spending all of it for 6 months then half for the next 6 months...so in reality it cant be used for expenditure. 3 Link to comment Share on other sites More sharing options...
Popular Post scoutman360 Posted January 31, 2019 Popular Post Share Posted January 31, 2019 30 minutes ago, baansgr said: Thats just it....its supposed to be for living expenses, however the new rules dont allow spending all of it for 6 months then half for the next 6 months...so in reality it cant be used for expenditure. I am pretty sure Thailand is trying to keep rich farangs in, and poor farangs out. Its all about tolerating foreigners only if they have lots of money to bring into the country. 2 1 Link to comment Share on other sites More sharing options...
Popular Post NCC1701A Posted January 31, 2019 Popular Post Share Posted January 31, 2019 1 hour ago, Otis Cribelcoblis said: Anyone here willing to toss that amount of money or am I the only one concerned? i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues. that is the definition of being able to afford it. 3 3 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted January 31, 2019 Author Share Posted January 31, 2019 21 minutes ago, NCC1701A said: i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues. that is the definition of being able to afford it. I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing. 2 1 Link to comment Share on other sites More sharing options...
Popular Post NCC1701A Posted January 31, 2019 Popular Post Share Posted January 31, 2019 3 minutes ago, Otis Cribelcoblis said: I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing. don't you know who I am? you must be new here. 5 Link to comment Share on other sites More sharing options...
NCC1701A Posted January 31, 2019 Share Posted January 31, 2019 2 hours ago, Otis Cribelcoblis said: Bitcoin is fools gold. Link to comment Share on other sites More sharing options...
Popular Post Otis Cribelcoblis Posted January 31, 2019 Author Popular Post Share Posted January 31, 2019 3 minutes ago, NCC1701A said: don't you know who I am? you must be new here. Not only do I not, but you have mistaken me for someone who cares. 6 Link to comment Share on other sites More sharing options...
impulse Posted January 31, 2019 Share Posted January 31, 2019 5 minutes ago, NCC1701A said: Wow. Looks just like Enron stock. It outperformed gold, too. Better look at the results since 2017... Link to comment Share on other sites More sharing options...
Popular Post NCC1701A Posted January 31, 2019 Popular Post Share Posted January 31, 2019 1 minute ago, Otis Cribelcoblis said: Not only do I not, but you have mistaken me for someone who cares. so what is your point here extremely rude person who has alienated everyone in your topic. I answered your question and said I am not concerned and you attacked me and called me a liar. maybe the mods should lock this thread. 3 Link to comment Share on other sites More sharing options...
NCC1701A Posted January 31, 2019 Share Posted January 31, 2019 3 minutes ago, impulse said: Wow. Looks just like Enron stock. It outperformed gold, too. Better look at the results since 2017... why? i bought in 2011 and sold in 2017. i forgot I had it. 1 1 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted January 31, 2019 Author Share Posted January 31, 2019 Just now, NCC1701A said: so what is your point here extremely rude person who has alienated everyone in your topic. I answered your question and said I am not concerned and you attacked me and called me a liar. maybe the mods should lock this thread. Sure, go run and find mommy. I didn't call you anything. I just told you that in my long experience, those that are so quick to tell me how rich they are, really are not. Your mileage may vary. You do seem very defensive, any reason why? 1 1 2 Link to comment Share on other sites More sharing options...
Popular Post dcnx Posted January 31, 2019 Popular Post Share Posted January 31, 2019 51 minutes ago, NCC1701A said: i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues. You don’t yet. You’re always one Somchai away from having your life turned upside down here. The goal post will always be moved. Only a fool would allow himself to get too comfortable while living on quicksand. 2 2 2 Link to comment Share on other sites More sharing options...
NCC1701A Posted January 31, 2019 Share Posted January 31, 2019 (edited) 5 minutes ago, dcnx said: You don’t yet. You’re always one Somchai away from having your life turned upside down here. The goal post will always be moved. Only a fool would allow himself to get too comfortable while living on quicksand. you have a good point. i have a paranoid personally which is perfectly suited to living in Thailand. i fully expect the limits to be increased again in the next 5-15 years. Most likely to be doubled at one time just like they were a long time ago. Edited January 31, 2019 by NCC1701A 2 Link to comment Share on other sites More sharing options...
Popular Post Khaeng Mak Posted January 31, 2019 Popular Post Share Posted January 31, 2019 So on todays prices you have somewhere in the the vacinity of 40 baht weight in gold. Where in your house do you keep it and can I come over for a beer? 3 Link to comment Share on other sites More sharing options...
ukrules Posted January 31, 2019 Share Posted January 31, 2019 1 hour ago, NCC1701A said: Around these parts we have a saying 'Gold is a fools Bitcoin' lol 1 1 Link to comment Share on other sites More sharing options...
HuskerDo Posted January 31, 2019 Share Posted January 31, 2019 Otis - You wouldn't be posting that question if Gold had gone the other direction or stayed stable. The same argument could be made of any good investment. If someone invested in Bitcoin at the right time they would have done well. Had they invested in it when it was sitting at $18,000 (US) then they lost a ton of money. Same argument with the Baht had you put currency from your homeland into a Thai bank a few years ago you'd have a better investment than your Gold investment. The baht has really appreciated over the past number of years. It looks like you made about 12% on your Gold. Very good investment. But, will you get out before the tide turns (like it always does with Gold). As Warren Buffett stated, no matter how long you hold a ounce of Gold, at the end of the day you still only have an ounce of Gold. The price will fluctuate but the Gold itself doesn't grow. He stated he would never own Gold. That's beside the point. You did well with your investment but it could have gone the other way and we wouldn't have heard from you. Not intended as a putdown. Just making a point. Everyone has their own reasons for investing the way they do. It's a personal choice. If the price of Gold went the other way you could be sitting on a loss of $2,700. I'm happy you did well with it tho. Great luck with your investments in the future. 1 Link to comment Share on other sites More sharing options...
HuskerDo Posted January 31, 2019 Share Posted January 31, 2019 (edited) 3 hours ago, Otis Cribelcoblis said: Are you mocking me? Bitcoin is fools gold. But for you, it might be a great investment. Is there a reason you didn't respond to my question? "Bitcoin is fools gold."...…. I think you are being VERY generous with that comment Otis. Bitcoin was created for millennials and had a good short term run propelled by speculators but as far as it being a good long term investment or the hope it'll become a viable currency, well, neither is going to happen. Edited January 31, 2019 by HuskerDo 1 Link to comment Share on other sites More sharing options...
2tall Posted January 31, 2019 Share Posted January 31, 2019 if you bought gold 8 months ago....you are upside down and stand to lose if you were to sell now. Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted January 31, 2019 Author Share Posted January 31, 2019 1 minute ago, 2tall said: if you bought gold 8 months ago....you are upside down and stand to lose if you were to sell now. I sold my gold when it hit 1350 last year. I bought in again at 1205. I'm doing fine. Better than parking it in a Thai bank account. Link to comment Share on other sites More sharing options...
arithai12 Posted January 31, 2019 Share Posted January 31, 2019 First, you are mixing dollar and baht. A good part of what you "gained" with your gold is due to the depreciation of dollar vs baht. By the same token, 800k THB translated to dollars increased by 1690 dollars over the last 6 months. Second, immigration wants to see 800k THB, not dollars or gold. What will you do, sell your gold 3 months before extension is due? Do you know that the money has to come from abroad? Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted January 31, 2019 Author Share Posted January 31, 2019 1 minute ago, arithai12 said: First, you are mixing dollar and baht. A good part of what you "gained" with your gold is due to the depreciation of dollar vs baht. By the same token, 800k THB translated to dollars increased by 1690 dollars over the last 6 months. Second, immigration wants to see 800k THB, not dollars or gold. What will you do, sell your gold 3 months before extension is due? Do you know that the money has to come from abroad? When you put 400,000 or 800,000b in an account, no one will ask you from where it came. That's wrong. My gold is in grams. I already did the math but feel more comfortable talking about it in ounces. Regardless of the amount, I used the equivalent of 800,000b as my example. I would never have appreciated my money in a Thai bank account. It's a loser. Link to comment Share on other sites More sharing options...
ubonjoe Posted February 1, 2019 Share Posted February 1, 2019 Not directly visa or extensions of stay related. Move to here. Link to comment Share on other sites More sharing options...
Popular Post BritManToo Posted February 1, 2019 Popular Post Share Posted February 1, 2019 8 hours ago, Otis Cribelcoblis said: I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing. I think all the old fools boasting about how they have plenty are deeply worried about the next Thai eviction notices being issued to all white foreigners. Your're next! 2 2 Link to comment Share on other sites More sharing options...
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