Someone please help me buy BITCOIN

[Poet]

12 minutes ago, Farang123 said:

What are the cons of using the Asian markets?

In general, technical talent and engineering ethics are not as robust in Asia. The startup scene also appears to be even flakier than in the West, with sclerotic old corporations cluelessly investing in "whizzkids" who are little more than ambitious Webdesigners.

If you see any startup having difficultly keeping their site up, or having to stop taking new sign-ups for a few weeks while they "improve their systems", don't interpret that as a sign of success. It usually just means that the six founders with Marketing degrees are in the process of discovering that the founder who "knows about computers" was lying all along and, now, they don't even know how to find someone who does.

Another considersation is that the large, established Western exchanges may have higher transaction volumes than the Asian exchanges, meaning that their market prices may, at any given time, more accurately reflect general market prices. If there is one particularly big Chinese exchange, that may actually do higher volumes than the individual Western exchanges, but I am not familiar with the Chinese market.

 

[fdsa]

1 hour ago, Poet said:

We take ill-informed posts seriously because you are giving financial advice that may harm other members of this forum. You owe it to them to at least understand what you are saying. It is not a joke for some, they may have to leave Thailand if the value of their pensions collapse.

you are mistaking me for somebody else.

 

If you read my posts history you'll find that I'm mostly giving an advice to stay clear of Bitcoin because it has several serious flaws, also (can't remember if I posted this or not) I believe it is massively overpriced now and its real value is somewhere below 20'000 USD.

Also if you'll scroll this topic to the 1st page you'll find that I gave the most relevant advice — the easiest way to buy Bitcoins in Thailand — in the very 1st answer which somewhy was ignored by the topic starter. Possibly because they started the topic just to chit-chat rather than wanting to really know how to buy Bitcoins.

[Farang123]

5 minutes ago, fdsa said:

you are mistaking me for somebody else.

 

If you read my posts history you'll find that I'm mostly giving an advice to stay clear of Bitcoin because it has several serious flaws, also (can't remember if I posted this or not) I believe it is massively overpriced now and its real value is somewhere below 20'000 USD.

Also if you'll scroll this topic to the 1st page you'll find that I gave the most relevant advice — the easiest way to buy Bitcoins in Thailand — in the very 1st answer which somewhy was ignored by the topic starter. Possibly because they started the topic just to chit-chat rather than wanting to really know how to buy Bitcoins.

I read your post but I'm not comfortable with the method you recommend.  I simply do not know enough about it.  Thanks.

[Poet]

59 minutes ago, fdsa said:

you are mistaking me for somebody else.

You may have accurately described a process in an earlier post, but I was responding to your wildly innaccurate understanding of why Bitcoin is valuable and, in the current financial climate, is set to continue rising.

I have listened to people spreading this nonsense for years, usually stemming from bitterness that they didn't get have the spare cash to get into it at $100 years ago and now they feel they can't because it is "overpriced", whatever the Hell they think that means in this context.

The problem is that you guys were doing this at $5k, at $10k, at $20k, at $30k, at $40k, at $50k. Now you're still doing it as we approach $60K and, of course, you'll still be doing it $75k, $100k, $250k etc.

There are people here, on this forum, who will be negatively affected if the dollar loses value during the current spending spree. Members who actually understand this stuff are recommending that they hedge against that by putting a small portion of their cash into Bitcoin. To us, it is clear that asset values always inflate as more money enters the system.

If you have no interest in owning Bitcoin yourself, fine, but at least have the shame to recognise that those following your advice in the past have repeatedly lost out on the opportunity to significantly increase their savings. As we head into uniquely challenging times, that really matters.

 

[fdsa]

 

22 minutes ago, Poet said:

I have listened to people spreading this nonsense for years, usually stemming from bitterness that they didn't get have the spare cash to get into it at $100 years ago and now they feel they can't because it is "overpriced", whatever the Hell they think that means in this context.

On 3/4/2021 at 12:15 AM, fdsa said:

I bought my Bitcoins for $350, Litecoins for $4, Ethereums for $200, Dashes for $40 and so on, and currently have more crypto assets than most users here, and I know the cryptos better than most users here. And that's exactly why I criticize them - because I know how they work, not by just reading the paid articles on random websites.

https://forum.thaivisa.com/topic/1199981-bitcoin-or-gold/page/16/?tab=comments#comment-16294936

 

 

22 minutes ago, Poet said:

I was responding to your wildly innaccurate understanding of why Bitcoin is valuable and, in the current financial climate, is set to continue rising.

On 2/25/2021 at 1:08 AM, fdsa said:

BTC price is pumping only because people (even millionaires (especially millionaires)) are too narrow sighted and know BTC only so they dump their fiats into BTC instead of looking for better alternatives.

https://forum.thaivisa.com/topic/1205958-survey-cryptocurrencies-wave-of-the-future-or-disaster-waiting-to-happen/?do=findComment&comment=16278000

 

 

23 minutes ago, Poet said:

at least have the shame to recognise that those following your advice in the past have repeatedly lost out on the opportunity to significantly increase their savings.

those few who followed my advice to buy cryptocurrencies in around 2013 made a huge profit, unfortunately most people sold their coins years ago.

My advice for 2021: the market is severily overinflated so invest very carefully, and stay away from Bitcoin - do your own research and look at a better alternatives instead.

[Poet]

1 hour ago, fdsa said:

My advice for 2021: the market is severily overinflated so invest very carefully, and stay away from Bitcoin - do your own research and look at a better alternatives instead.

Okay, so, if your extensive track record, as you present it, is true, I don't understand why you repeat the sort of nonsense we more usually hear from crypto-illiterates.

For example, you place great authority on Warren Buffet's current criticisms of Bitcoin when, presumably, he would have been just as scathing in 2013 when you thought it was a good idea.

To say that the market today is overinflated is meaningless. The entire global system has been massively overinflated since 9/11, when Alan Greenspan decided to abandon his previous financial rectitude and flood the markets with cash in order to artificially keep the whole thing going.

No one, today, is disputing that Biden is pumping unprecedented volumes of money into the system - again, hoping to keep everything afloat in truly desperate circumstances - but that is precisely the situation in which Bitcoin thrives. We have at least 4 or 5 years of ever-increasing "stimulus" ahead of us,  and all assets will continue to rise, just as they always do under these circumstances.

Bitcoin will particularly benefit as more people around the world come online, as more families seek to protect their earnings from increasingly intrusive government and higher taxes, as more corporations seek to diversify their cash equivalents and hedge against dollar debasement, as more countries become unstable, as more humans become aware that Bitcoin exists.

Where else, exactly, do you think people should be putting their money?

Please don't suggest some "get-in-on-the-ground-floor" penny stocks or BS alt-coins. As far as I can see, right now in early 2021, no investment comes close to Bitcoin, regardless of whether or not you feel the current price is too high - that merely represents the currently perceived value among the current audience. That audience is set to grow, not shrink, over the coming months.

 

[fdsa]

41 minutes ago, Poet said:

For example, you place great authority on Warren Buffet's current criticisms of Bitcoin when, presumably, he would have been just as scathing in 2013 when you thought it was a good idea.

that was a sarcasm ????‍♂️ that's why I wrote "perhaps you shouldn't take all posts so seriously?"

Warren Buffet is an old farter that doesn't understand a <deleted> in technology.

https://forum.thaivisa.com/topic/1207165-bitcoin-drops-after-climbing-to-all-time-high/?do=findComment&comment=16274911

 

41 minutes ago, Poet said:

Where else, exactly, do you think people should be putting their money?

 

in stocks, preferrably of companies growing food or manufacturing something. But not overinflated Tesla and not smartphones' companies.

Solar and wind power maybe?

Also I'd look at online services companies, but definitely not overinflated Zoom. Personally I'm buying SUSE shares once they go public in May.

[Poet]

1 hour ago, fdsa said:

that was a sarcasm

Okay, but I don't think most people would realize that was a joke. Two of us, so far, have presumed you were serious. I agree, however, that Buffet is a good example the old financial establishment misinterpreting Bitcoin.

 

1 hour ago, fdsa said:

in stocks, preferrably of companies growing food or manufacturing something. But not overinflated Tesla and not smartphones' companies.

The smartphone company Apple is one of the few stocks with a very obvious upside as they expand into AR, VR, and digital watch smartphone accessories.
 

1 hour ago, fdsa said:

Personally I'm buying SUSE shares once they go public in May.

Wait, you think that the shares of a German Linux consultancy will increase in value more quickly than Bitcoin?

It took Red Hat, the dominant distribution at the time, almost two decades (January 2002 - October 2018) to increase as much as Bitcoin has over the past 12 months.

I'm not saying that SUSE might not be a perfectly good stock in normal stock market terms, but the reason I have Bitcoin instead of Apple shares is that, as far as I can see, no traditional shares can compete with the speed of growth that Bitcoin offers. Bitcoin is currently worth only $1.1 trillion, it has a lot further to go.

 

[fdsa]

I'm thinking long term, not short term. If I wanted to make some quick buck I'd look at "get-in-on-the-ground-floor" <deleted>shares or newly announced <deleted>coins or tokens, like the new NFT hype.

SUSE is just an example - first of all it's just my favourite distro for almost 15 years already, also as often happens with newly listed stocks with a high probability they will rise. Not 15000% ofcourse, but I hope for 100-200% within few years.

As for Bitcoin - there is a chance that it will be dumped for its environmental impact in the nearest years.

 

[Poet]

53 minutes ago, fdsa said:

As for Bitcoin - there is a chance that it will be dumped for its environmental impact in the nearest years.

I'm not going to dump mine. Neither will any other owners. The whole point of a decentralized currency is that governments don't control it.

Strange how no one considers the enviromental impact of the world's 5 million bank branches, tens of millions of employees, 3.5 million ATM machines, millions of security vans etc. Bitcoin is a miracle when you consider not just the energy but, also, all the frustration, inefficiency, and time wasted by the traditional banking industry.

No one complains about the enviromental impact of gold, but most mining techniques are highly destructive and polluting. Then, once you have it, you have to keep it somewhere. For organisations with large amounts of gold, that involves a large ongoing expense and energy cost. Moving it around costs a lot. Transfering it to another person requires that you both be in the same place. Everything has an environmental impact.

If the value of Bitcoin increases as much as the most conservative projections suggest it will, the energy cost per dollar stored will soon be lower than any other asset class.

 

[Heng]

The powers that be have to find some spin on it, and the energy thing is easiest.   The planet can't support everyone owning a refrigerator or automobile either.   

[SunnyinBangrak]

21 hours ago, fdsa said:

I believe it is massively overpriced now and its real value is somewhere below 20'000 USD.

I would be interested to learn how you calculate its "real value". In my mind its real value was zero, but the bull case was and is compelling, and I set up a facility to accept payment in crypto. Less than 1% of customers paid in this way. Fast forward several years, and setting up that payment facility was the best business decision I ever made. The worst was spending some of the crypto on consumer goods back when it was a tiny fraction of what it is presently worth.

 6 months ago I asked an old school friend who is now CEO of a  multinational company whether they started keeping any cash in crypto. He laughed at me, and we changed subject. We were out for dinner the other night, and he asked my thoughts on the likely future value. I said I have no idea at all, but remain a large holder of a variety of cyptos, mining firms and companies involved with defi and staking, after having cashed out enough to comfortably retire on. He started umming and ahhing, oh but it is so expensive now, but I could see he was coming to terms with the fact they would start buying at some stage. Have to keep up with the Musks!

 The boss of Kraken exchange probably had it about right when he said - I paraphrase - by the end of 2021 one bitcoin will buy you a Lamborghini, by the end of 2022 one bitcoin will buy you a Bugatti. 

[SunnyinBangrak]

15 hours ago, fdsa said:

As for Bitcoin - there is a chance that it will be dumped for its environmental impact in the nearest years.

I suppose gold miners and other precious metal miners will knock their work on the head too? All those terrible chemicals they use, and fossil fuels. Not to start on these mines funding dictators and human rights abusers of the worst kind. Never hear about that, do we? It is a dirty business at every step.

 Look at crypto miners, they are making every effort to use renewable energy.

[Farang123]

15 hours ago, Poet said:

I'm not going to dump mine. Neither will any other owners. The whole point of a decentralized currency is that governments don't control it.

Strange how no one considers the enviromental impact of the world's 5 million bank branches, tens of millions of employees, 3.5 million ATM machines, millions of security vans etc. Bitcoin is a miracle when you consider not just the energy but, also, all the frustration, inefficiency, and time wasted by the traditional banking industry.

No one complains about the enviromental impact of gold, but most mining techniques are highly destructive and polluting. Then, once you have it, you have to keep it somewhere. For organisations with large amounts of gold, that involves a large ongoing expense and energy cost. Moving it around costs a lot. Transfering it to another person requires that you both be in the same place. Everything has an environmental impact.

If the value of Bitcoin increases as much as the most conservative projections suggest it will, the energy cost per dollar stored will soon be lower than any other asset class.

 

Poet, can Kraken be used with a Thai bank account?  Or I could link with my US based account.  Can this be done from Thailand?  Because most of the sites seem to instantly pick up which country you are in and don't allow you to sign up if you're not in one of their verified countries.

[Farang123]

On 3/30/2021 at 11:57 AM, TigerandDog said:

if that's all you're going to invest (approx US $1050 ), then based on the current price of US $58k  you would only get 0.0181 of 1 coin. So even if BTC was to hit 100k that would only give you a profit of US $760.00.  So don't waste your time with Bitcoin as your return will be negligible. If you're serious about wanting to invest in crypto look at some of the smaller coins/tokens. e.g. Tron (TRX ), EOS, Ripple, Cardano. Do you research first. The way I decided which coins to invest in was to do a google search on the top 20 coins to invest in for 2021. I made a list of them and looked at 25 different web sites for their recommendations. Then looked at which ones were recommended the most across those 25 sites. I finished with a list of 15 coins. Then looked at their long range forecasts ( Dec 2021 ), decided which ones to go with. had to eliminate some simply because Satang did not have them listed, finished up with 10 and invested varying amounts on each one. So far so good, all in profit and increasing. My philosophy is if the total investment can increase by 500 baht per day, on average, by the end of Dec my investment will be 137.5k baht in profit from today. Now I know that's not a huge amount of money when converted to AUD, but I've also decided at what price, based on the long term recommendations to sell at. Greed has to be removed from the equation and common sense applied, otherwise you could lose the lot.

Some people said oh just invest $100 and see how it goes.  You say $1000 is an insignificant amount.  Although $760 is not life changing money, I wouldn't snub my nose at it if someone were to write me a check for that amount.

[fdsa]

There is no point to use an old and suboptimal technology if we have better and eco-friendly alternatives. Somewhy people keen to use solar panels and nuclear power stations instead of burning coal and wood to get electricity.

mining Bitcoin is similar to burning coal.

[Poet]

3 hours ago, Farang123 said:

Poet, can Kraken be used with a Thai bank account?

I only use my Thai banks accounts for spending in Thailand, I run all my business stuff outside Thailand, but I don't see why any exchange wouldn't accept a bank transfer from Thailand.

 

3 hours ago, Farang123 said:

Or I could link with my US based account.

For sure. It's an American company.
 

3 hours ago, Farang123 said:

Can this be done from Thailand?  Because most of the sites seem to instantly pick up which country you are in and don't allow you to sign up if you're not in one of their verified countries.

I use it from Thailand, my Thai partner uses it from Thailand.

I'm not particularly aware of any sites, apart from US entertainment sites, that block Thailand but, if you run into problems, fire up a Digital Ocean (or similar VPS service) instance in the US and run the Firefox browser through that using a SOCKS5 proxy. That should cost you under a cent for up to an hour, don't forget to kill the instance when you are finished. Learning how to do that is better than a VPN because it is cheaper, faster, and the IP won't blacklisted due to being associated with a VPN service.

 

[Farang123]

On 4/2/2021 at 8:43 PM, Poet said:

I only use my Thai banks accounts for spending in Thailand, I run all my business stuff outside Thailand, but I don't see why any exchange wouldn't accept a bank transfer from Thailand.

 

For sure. It's an American company.
 

I use it from Thailand, my Thai partner uses it from Thailand.

I'm not particularly aware of any sites, apart from US entertainment sites, that block Thailand but, if you run into problems, fire up a Digital Ocean (or similar VPS service) instance in the US and run the Firefox browser through that using a SOCKS5 proxy. That should cost you under a cent for up to an hour, don't forget to kill the instance when you are finished. Learning how to do that is better than a VPN because it is cheaper, faster, and the IP won't blacklisted due to being associated with a VPN service.

 

SO I finally chose a company to sign up with and got my account verified.  Having a little trouble doing a wire transfer now and missing out on opportunity as bitcoin is headed up now.  Feeling very frustrated! Argh!

[Poet]

3 hours ago, Farang123 said:

SO I finally chose a company to sign up with and got my account verified.  Having a little trouble doing a wire transfer now and missing out on opportunity as bitcoin is headed up now.  Feeling very frustrated! Argh!

Anything we do for the first time requires at least some setup time and effort. The important thing is that you have taken the steps necessary to get into the market. That puts you ahead of the 99% of people who think about it but never get around to it.

This is just one good day, there will be plenty more, and it is entirely possible that it will be back below 60k by the end of the day. This is a long-term game, I don't care how much it goes up or down this week as long as the general trend is upward and we pass 200k before the end of this year. Enjoy the ride ????

 

[Leffe]

I live in Chiang Mai and have traded on Kraken exchange for 2 years. When signing up the KYC process is straightforward and customer support is excellent. Most importantly you can sell crypto to fiat on the exchange then transfer USD back to Thailand. You will need an intermediary bank to handle the transfer from Kraken to your bank in Thailand. I use the Bangkok Bank in New York. 

[Farang123]

11 hours ago, Leffe said:

I live in Chiang Mai and have traded on Kraken exchange for 2 years. When signing up the KYC process is straightforward and customer support is excellent. Most importantly you can sell crypto to fiat on the exchange then transfer USD back to Thailand. You will need an intermediary bank to handle the transfer from Kraken to your bank in Thailand. I use the Bangkok Bank in New York. 

I got my account verified for Kraken but now my bank in America (I signed up with my US address) says that they can't do a wire transfer without me going into a physical location.  Is that strange?  P.S.  I'm also in Chiang Mai ????  Hope you're making a lot of money these days!

[Leffe]

Your will need to contact Kraken support and request approval to have Silvergate Bank loaded onto your Kraken Account. Sign in to your Kraken account and use this link https://support.kraken.com/hc/en-us/requests/new?ticket_form_id=360000730691

 

Once you are approved the process is straight forward. Go to the Funding page and select the amount of USD you want to transfer. You will need to provide your bank account details in Thailand and the intermediary bank in the US.

 

Silvergate do not use the swift banking system so require an intermediary bank in the US to facilitate the transfer to your bank in Thailand. Bangkok Bank at Kad Suan Kaew can provide you with the address and swift number for Bangkok Bank New York. 

 

I make regular transfers from the Kraken Exchange using Silvergate and have had no issues. 

 

Hope this helps and keep stacking those sats. 

[ward]

Anyone here use/has used Revolut to transfer THB to and purchase crypto?

[jesimps]

On 3/29/2021 at 2:52 PM, Farang123 said:

I just have a feeling that it is going to be going up in price soon.  Yeah, I'm doing some research just wondering what brokers  people recommend who are in TH.

Despite what some people say, don't be afraid to ask for advice on forums and add it to the database in your head. Forums are a good place to conduct an opinion pole. I look at as many as possible to gather my data and have had my attention drawn to some good tokens I hadn't previously heard of. 

As for Coins.TH, I use them to invest and spare local cash. They were fine until yesterday when the market dipped somewhat and when I went on to carry out a cheap buy, I got the message that they were carrying out maintenance. This of course is complete blx. What they mean is that their gear can't handle it when the coin price is doing anything but ranging. You'd think that with the money they're taking in they'd be able to upgrade their servers to handle the bumps and dips. They aren't alone on this unfortunately. It reminds me a bit of arriving at the supermarket checkouts to be confronted with big queues and only one position open.

[Farang123]

Bitcoin is way down.  Glad I wasn't able to buy at 60k otherwise I probably would have.  

[jumbo]

20 minutes ago, Farang123 said:

Bitcoin is way down.  Glad I wasn't able to buy at 60k otherwise I probably would have.  

So you were ready and able to buy at 59 but not at 49???

Better stay from it....

[Farang123]

20 minutes ago, jumbo said:

So you were ready and able to buy at 59 but not at 49???

Better stay from it....

I would buy now, although it's still going lower.  But I haven't yet been able to transfer funds.

[fdsa]

Author got the answer for his question almost a month ago already but still haven't figured out how to buy Bitcoins

you should really stay away from it.

[Farang123]

1 hour ago, fdsa said:

Author got the answer for his question almost a month ago already but still haven't figured out how to buy Bitcoins

you should really stay away from it.

I found a broker and signed up that was a good step.  The transfer of funds is complicated issue that I won't go into detail here... 

[jumbo]

2 hours ago, Farang123 said:

I found a broker and signed up that was a good step.  The transfer of funds is complicated issue that I won't go into detail here... 

 I wont go in details too....  but I set my account up in 24 hours, approval took long, and my funds were here in  24 hours as well with WISE and the purchase took around 5 minutes