Siam Commercial Bank moving into Crypto, why aren't you?

[Neeranam]

https://www.scb.co.th/en/about-us/news/nov-2021/scbs-bitkub-online.html

 

Cryptocurrency is here to stay, whether you like it or not. 

 

Anyone here not investing? If not, what are you scared of? 

 

<<<< Disguised reference to the Royal family has been removed>>>> 

 

Even my 79 year old mother bought bitcoin for her grandkids Christmas gift! 

 

 

 

 

Edited December 30, 2021 by metisdead

[Farmerslife]

Because I know nothing about it. It is a minefield for me in which I would lose my money in nanoseconds. 

All very well if you know what you're doing and can afford to gamble and lose but I don't and have no interest in finding out.

It's a vehicle for money laundering, it's unregulated, it has no tangible assets and it scares me $h1tless. 

That's why. 

[Neeranam]

11 minutes ago, Farmerslife said:

Because I know nothing about it. It is a minefield for me in which I would lose my money in nanoseconds. 

Thanks for your reply. 

 

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

 

 

 

 

[FritsSikkink]

It is way to volatile.

Billions have been stolen / disappeared without any compensation

[Farmerslife]

4 minutes ago, Neeranam said:

Thanks for your reply. 

 

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

 

 

 

 

So if I bought one today it would be grossly overvalued? No thanks.

[FritsSikkink]

1 minute ago, Neeranam said:

Thanks for your reply. 

 

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

 

 

 

 

How many people lost money on bitcoin? 

[Neeranam]

5 minutes ago, Farmerslife said:

So if I bought one today it would be grossly overvalued? No thanks.

No, according to onchain analysis it is WELL undervalued. 

 

Do some research, you can't expect to invest in something without researching. 

[Neeranam]

2021 has been a rather disappointing year for crytpo, yet Bitcoin has doubled in price since last December. 

A chimpanzee throwing darts to choose random cryptos at the start of the year would be up x3.  It ain't rocket science. 

[Stocky]

39 minutes ago, Neeranam said:

Anyone here not investing? If not, what are you scared of? 

I have no need of the extra risk. 

[Neeranam]

1 minute ago, Stocky said:

I have no need of the extra risk. 

Don't you want to maximize your investments?

Do you have any investments?

 

I think the fact that Thailand's oldest bank and the largest in SE Asia has bought Bitkub rules out all the past worries about high risk. 

[GeorgeCross]

i trade some crypto, i like the volatility but don't consider it more than just another risk asset with a nice "story". watching it drop 10% the last few weeks when S&P dropped 2% again (!) appears to me lots of institutional money in there treating it that way too. can't really see it getting another big leg up without spot ETFs being allowed by SEC.

 

still its 32% off all time highs right now (thats 48% upside) so i might take a longer punt lol. but thats also another reason i wouldn't hold anymore than 10% of my net worth in it. tbh if i was going for moonshots i'd rather bet on new unicorn stocks!

 

in the meantime i prefer land and property (here and abroad) to hold generational wealth and plant some high end palms and fruit (durian etc) for income

 

 

[Neeranam]

1 minute ago, GeorgeCross said:

in the meantime i prefer land and property (here and abroad) to hold generational wealth and plant some high end palms and fruit (durian etc) for income

I am buying land here next year. I am not 100% in crypto, but not far off ???? 

[sungod]

10 minutes ago, Neeranam said:

2021 has been a rather disappointing year for crytpo, yet Bitcoin has doubled in price since last December. 

A chimpanzee throwing darts to choose random cryptos at the start of the year would be up x3.  It ain't rocket science. 

I bought land, sold it 2 years later at double the price. In between there was no risk of me losing the land.

 

It ain't rocket science.

[Neeranam]

Just now, sungod said:

I bought land, sold it 2 years later at double the price. In between there was no risk of me losing the land.

 

It ain't rocket science.

Really, where?

[GeorgeCross]

9 minutes ago, Neeranam said:

2021 has been a rather disappointing year for crytpo, yet Bitcoin has doubled in price since last December. 

A chimpanzee throwing darts to choose random cryptos at the start of the year would be up x3.  It ain't rocket science. 

yeah true, but a chimp throwing darts 3 months ago would be down ~30%. was going "to the moon" then too! 

 

it's easy to cherry pick data points with hind sight.

 

thats why i buy dips, i can at least put some stats in my favour! (even if its just in my head lol)

 

 

[GeorgeCross]

1 minute ago, sungod said:

I bought land, sold it 2 years later at double the price. In between there was no risk of me losing the land.

 

It ain't rocket science.

we just picked up 4 rai on a street where we knew the end plot was just about to be constructed.. now he's paying for gravel road, electric and water and i'm up 40% in a month. from backwater to hot new street!

 

btw i don't feel bad HE tipped me on it ????

 

 

[Neeranam]

1 minute ago, GeorgeCross said:

yeah true, but a chimp throwing darts 3 months ago would be down ~30%. was going "to the moon" then too! 

 

it's easy to cherry pick data points with hind sight.

 

thats why i buy dips, i can at least put some stats in my favour! (even if its just in my head lol)

 

 

The thing is, 3 months is nothing when investing. People said the same thing when some bought Bitcoin when it mooned in December 2017. I know a guy that bought at $14,000 and freaked when it dropped, selling at $10,000. If he had just held for 3.5 years, he could have sold at $68,000. 

[Stocky]

4 minutes ago, Neeranam said:

Don't you want to maximize your investments?

Do you have any investments?

Yes I have investments, over the last 20 years they've given me an average annual return of a little over 10%. That's more than sufficient to afford me a comfortable lifestyle, I'm not a greedy man and I don't want the additional risk. 

[GeorgeCross]

3 minutes ago, Neeranam said:

Really, where?

most major cities in thailand? theres always part of the city thats been "left behind" then the developers move in, the elastic snaps and everyone wants a piece..

 

tip: buy on the edge of the development zone and look for unique features.

 

[Neeranam]

2 minutes ago, GeorgeCross said:

we just picked up 4 rai on a street where we knew the end plot was just about to be constructed.. now he's paying for gravel road, electric and water and i'm up 40% in a month. from backwater to hot new street!

 

btw i don't feel bad HE tipped me on it ????

 

 

Who is HE?

[Father of Godfahter]

Bitcoin is worth nothing. It will collapse, sooner or later. Btw it lost 1/3 of its value this month. 
 

Edited December 30, 2021 by Father of Godfahter

[GeorgeCross]

1 minute ago, Neeranam said:

Who is HE?

the guy developing the end plot. he'd rather have me own it as he knows i'll sit on it for a long time. 

 

 

[MRToMRT]

I buy little bits a couple of times a week. Sometimes I plan to buy something, like a new pair of pumps or. night down the pub, and then I decide to save the money instead and then go on the exchange and buy crypto with it. I do it in small values lots like 50 bucks a time. Amounts I am not too bothered if I lose some of it. I have no idea what I am doing but its like a hobby for me. The big nightly swings scare the hell out of me but so far I am holding my own and have at least made more than the pittance the bank would give me or inflation takes away. 

I have found that using just one exchange and keeping the crypto on their exchange wallet makes it very simple for me. I am too scared to get my own wallet. 

I hope to double my money next year. Fingers crossed. Even if I lose I will have still enjoyed the process.

Edited December 30, 2021 by MRToMRT

[Neeranam]

Nobody who bought bitcoin has lost money, except those who bought exactly 6 weeks  ago and sold since then. Of course, anyone who did that was extremely stupid. 

 

 

[Father of Godfahter]

 

[Golden Triangle]

35 minutes ago, Neeranam said:

Thanks for your reply. 

 

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

 

 

 

 

Easy for you to say, yes I've seen all the success stories and it's meteoric rise in value, I even had another member on here talk to me in person over a snack & a couple of bottles of beer, even after taking copious notes about bit coin wallets, passwords and everything else that goes with it I'm still confused, and that was a few years back, so I steer well clear of what I don't understand.

[GeorgeCross]

Just now, Neeranam said:

Nobody who bought bitcoin has lost money, except those who bought exactly 6 weeks  ago and sold since then. Of course, anyone who did that was extremely stupid. 

 

 

could say the same of nearly every asset class on the planet right now.

 

how many all time highs has S&P hit this year? 71? 

 

sure i get it. you love bitcoin. but its not the only game in town.

 

and different asset classes suit different risk/reward preferences.

 

 

 

[FritsSikkink]

11 minutes ago, Neeranam said:

Nobody who bought bitcoin has lost money, except those who bought exactly 6 weeks  ago and sold since then. Of course, anyone who did that was extremely stupid. 

 

 

People lost millions, you are talking BS: 

 

Bitcoin Legal Issues | Important Cases You Should Watch (coincentral.com)

 

5 Bitcoin Fraud Cases You Should Know About (elliptic.co)

 

There are many more, the post is a pathetic attempt to find more investors.

Edited December 30, 2021 by FritsSikkink

[Neeranam]

1 minute ago, Golden Triangle said:

Easy for you to say, yes I've seen all the success stories and it's meteoric rise in value, I even had another member on here talk to me in person over a snack & a couple of bottles of beer, even after taking copious notes about bit coin wallets, passwords and everything else that goes with it I'm still confused, and that was a few years back, so I steer well clear of what I don't understand.

Earlier this year(January), I started a topic about what to buy, Bitcoin or Gold. More people then said buy gold! 

Gold has gone down in value, Bitcoin has nearly doubled and had more than doubled a month ago. 

 

It's easier than opening a bank account to open a Bitkub account. 

[Neeranam]

1 minute ago, GeorgeCross said:

could say the same of nearly every asset class on the planet right now.

 

how many all time highs has S&P hit this year? 71? 

 

sure i get it. you love bitcoin. but its not the only game in town.

 

and different asset classes suit different risk/reward preferences.

 

 

 

I don't own any bitcoin, I don't like it at all. I just use Bitcoin as an example.