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

[ThLT]

On 1/22/2022 at 2:37 PM, ThLT said:

On 1/22/2022 at 1:59 PM, Pravda said:

Still waiting for the list of exchanges that take Chinese money. Where is it?

Also waiting.

@Neeranam Me and Pravda are still waiting for you to provide an example of a foreign exchange that accepts Chinese yuan or Indian rupees.

 

About your claim...

 

On 1/22/2022 at 1:21 PM, Neeranam said:

You totally miss the point, crypto can't be banned. Chinese and Indians just use foreign exchanges. 

Apparently it's false:

 

https://www.cnbc.com/2021/09/27/cryptocurrency-exchanges-stop-chinese-users-signing-up-after-crackdown.html

 

Quote

Huobi said it would gradually retire existing accounts of mainland Chinese users by midnight on Dec. 31, 2021.

 

Edited January 23, 2022 by ThLT

[Neeranam]

6 minutes ago, ThLT said:

Me and Pravda are still waiting for you to provide an example of a foreign exchange that accepts Chinese yuan or Indian rupees.

I'm still waiting too. No WE, and you ARE an English teacher! 

Edited January 23, 2022 by Neeranam

[lkn]

15 minutes ago, Neeranam said:

Ah, when you are proved wrong, you start the insults, this is rather sad.

For real? You think 10 minutes rambling from Michael Saylor is a proof?

 

As to “prove” that inflation has been below 2% for the last decade, I really didn’t think that needed a link, also, there are different ways to look at inflation, e.g. should it include energy prices (which are more volatile), and you can look at different regions, e.g. I am from Europe, my own country has had less than 1.5% inflation, but you probably want U.S. numbers?

 

Also, your claim of 15% is the extraordinary claim, and should be what requires proof. The ECB and FED are basically created to ensure price stability, and for this, their goal has, until recently, been inflation of less than 2%. FED has recently said they will accept higher inflation, because they think it is transitory, but now they are increasing rates, because they want to avoid it getting out of control.

 

Anyway, here is one link to U.S. consumer price index data where you can see inflation for the last decade, not until 2021 do we see rising inflation (of up to 6%): https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical_us_table.htm

Edited January 23, 2022 by lkn

[Neeranam]

2 minutes ago, lkn said:

As for “proving” that inflation has been below 2% for the last decade, I really didn’t think that needed a link, also, there are different ways to look at inflation, e.g. should it include energy prices (which are more volatile), and you can look at different regions, e.g. I am from Europe, my own country has had less than 1.5% inflation, but you probably want U.S. numbers?

I am not American, but British, what is your country? I would bet my bottom Euro that your country doesn't have less than 1.5% inflation

  

[ThLT]

2 minutes ago, Neeranam said:

I'm still waiting too.

Do you invest primarily to make money?

Yes.

Now provide an example of exchange that currently accepts Chinese yuan and Indian rupees:

 

On 1/22/2022 at 1:21 PM, Neeranam said:

You totally miss the point, crypto can't be banned. Chinese and Indians just use foreign exchanges. 

[Nickelbeer]

Crypto currency is an automatic red flag for the Internal Revenue Service. I have no desire to complicate my tax situation. They are now even asking if I have income from ILLEGAL transactions, expecting me to declare it.

[Why Me]

The value of crypto derives from the Greater Fool Theory. So, to quote the greatest investor of them all, Harry "Bitcoin" Callahan: You've Got To Ask Yourself One Question: 'Do I Feel Like a Lesser Fool? ' Well, Do Ya, Punk?

[Neeranam]

7 minutes ago, lkn said:

Anyway, here is one link to U.S. consumer price index data where you can see inflation for the last decade, not until 2021 do we see rising inflation (of up to 6%)

You said just 30 minutes ago it was under 2%. If you trust this link, then I can see why you are not interested in buying an asset that has increased on average 170% every year(bitcoin)

[Neeranam]

5 minutes ago, ThLT said:

Yes.

Now provide an example of exchange that currently accepts Chinese yuan and Indian rupees:

 

So, you were criticizing me for investing just to make money, yet you admit that is what you do. Strange, but now I see why you never answered before. 

I have no idea what exchange accepts Yuan or rupees, I use Thai baht. 

[Neeranam]

6 minutes ago, Why Me said:

The value of crypto derives from the Greater Fool Theory. So, to quote the greatest investor of them all, Harry "Bitcoin" Callahan: You've Got To Ask Yourself One Question: 'Do I Feel Like a Lesser Fool? ' Well, Do Ya, Punk?

So, according to you, those who don't invest in crypto think there are no bigger fools than themselves

[lkn]

6 minutes ago, Neeranam said:

You said just 30 minutes ago it was under 2%. If you trust this link, then I can see why you are not interested in buying an asset that has increased on average 170% every year(bitcoin)

For the last decade, yes. CPI in January 2011 was 220.223, 10 years later, it was 261.582. That is an APY of 1.74%. That is less than 2%. Now please show me the numbers you used to arrive at 15% APY.

[ThLT]

1 hour ago, Neeranam said:

I wouldn't dream of putting my hard earned cash into something to get 7% apr. when fiat is currently losing over 15% of its value per year. 

15% inflation rate? ????

 

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/l55o/mm23

[lkn]

17 minutes ago, Neeranam said:

I am not American, but British, what is your country? I would bet my bottom Euro that your country doesn't have less than 1.5% inflation

What does “my bottom Euro” mean in actual numbers?

 

If you actually want to make that bet, I will reveal my country and link to official price index for my country, once the terms of the bet are agreed upon.

 

Do you want to go from 1st of January 2001 until 1st of January 2021 (last two decades)? Or 1st of January 2011 until 1st of January 2021 (last decade, as in my original claim)?

Edited January 23, 2022 by lkn

[ThLT]

1 hour ago, LoveThai94 said:

Logic proves itself

"Logic proves itself"?  ???? That's your response? ????

If that were the case, all lawyers wouldn't have a job. ????

 

1 hour ago, LoveThai94 said:

I will get back to you in a few hours, do some proper research and i will respond to that when i am back.

Still waiting for you to show how what I said is wrong. About the issue with Bitcoin being divided to Satoshis (0.00000001 BTC), meaning there is no "limited supply," and resulting in there being essentially an unlimited amount.

You haven't done that yet.

 

It seems you're changing the subject, again, like a coward... exactly like your 10 or so other posts a few pages back, that were refuted but that you mostly didn't reply to the objections raised.

[Neeranam]

2 hours ago, Sunnny said:

I moved into crypto on 30 of December after reading Neeranam’s post. Now, after I lost 25% of the invested money, I want to know if is time to move out of Crypto, dear Neeranam? Any more bright ideas for the money I have left?

[ThLT]

1 hour ago, fdsa said:

you can not buy smaller than 0.00001 BTC as most exchanges will decline that amount, also there is a hardcoded limit of bitcoin node itself - transactions less than 0.00000358 BTC will be rejected by the network.

If that's the case, then that simply removes the possibility of making a stand-alone transaction lower than 0.00000358 BTC. It doesn't change how there are still 189,251,370,000,000 Satoshis in circulation at the moment—of which any one of those individual Satoshis can be worth $0.01, $10 or even $10,000.

 

So there is no "limited supply" of Bitcoin. 

[Neeranam]

3 minutes ago, lkn said:

What does “my bottom Euro” mean in actual numbers?

 

If you actually want to make that bet, I will reveal my country and link to official price index for my country, once the terms of the bet are agreed upon.

 

Do you want to go from 1st of January 2001 until 1st of January 2021 (last two decades)? Or 1st of January 2011 until 1st of January 2021 (last decade, as in my original claim)?

Google it. 

 

Why on Earth are you not willing to say what country you come from?

 

Stranger and stranger. 

[Neeranam]

1 minute ago, ThLT said:

If that's the case, then that simply removes the possibility of making a stand-alone transaction lower than 0.00000358 BTC. It doesn't change how there are still 189,251,370,000,000 Satoshis in circulation at the moment—of which any one of those individual Satoshis can be worth $0.01, $10 or even $10,000.

 

So there is no "limited supply" of Bitcoin. 

There is a limited supply, it's not rocket science.

 

 

[ThLT]

13 minutes ago, Neeranam said:

I have no idea what exchange accepts Yuan or rupees, I use Thai baht. 

1. What visa are you on? Do you have a work permit for trading?

2. Ready to pay 15% taxes, starting in the upcoming year or so?
3. How are you going to pay taxes if you are working illegally in the country?

[Mr Meeseeks]

Just now, ThLT said:

If that's the case, then that simply removes the possibility of making a stand-alone transaction lower than 0.00000358 BTC. It doesn't change how there are still 189,251,370,000,000 Satoshis in circulation at the moment—of which any one of those individual Satoshis can be worth $0.01, $10 or even $10,000.

 

So there is no "limited supply" of Bitcoin. 

Patent nonsense. Supply is limited to 21 million.

 

7 minutes ago, lkn said:

What does “my bottom Euro” mean in actual numbers?

 

If you actually want to make that bet, I will reveal my country and link to official price index for my country, once the terms of the bet are agreed upon.

 

Do you want to go from 1st of January 2001 until 1st of January 2021 (last two decades)? Or 1st of January 2011 until 1st of January 2021 (last decade, as in my original claim)?

You Euro is not backed by anything tangible except government promises and debt.

 

It's soft money and will continuously devalue until the inevitable crash as history has repeatedly proven.

[Mr Meeseeks]

2 minutes ago, ThLT said:

1. What visa are you on? Do you have a work permit for trading?

2. Ready to pay 15% taxes, starting in the upcoming year or so?
3. How are you going to pay taxes if you are working illegally in the country?

1. You don't need a work permit to trade crypto. If that were the case local exchanges would require you to prove you have one when registering.

2. Yes, based on any profits made, actualised back into THB. 

3. See point #1

 

[lkn]

2 minutes ago, Neeranam said:

Why on Earth are you not willing to say what country you come from?

You wanted to bet on my inflation claim, no reason to show my hand before I know what is at stake.

 

Anyway, I am waiting for your math that got to 15% inflation, or that concluded that everyone bought before 2021, despite going by price history, majority of demand was in 2021.

[ThLT]

5 minutes ago, Neeranam said:

There is a limited supply, it's not rocket science.

Did you fail high school math? ????

 

Whatever you want to call it, Bitcoin can be divided into 2,100,000,000,000,000 units. It's not rocket science.

A Satoshi can be worth $0.01, $0.10, $1 or $10. There are still 2,100,000,000,000,000 units available to trade.

Edited January 23, 2022 by ThLT

[Neeranam]

5 minutes ago, ThLT said:

1. What visa are you on? Do you have a work permit for trading?

2. Ready to pay 15% taxes, starting in the upcoming year or so?
3. How are you going to pay taxes if you are working illegally in the country?

Actually, I don't have any visa/extension or work permit. 

Are you still on an education visa?

I am not working illegally and of course pay my taxes. 

[fdsa]

BTW I like the discussion of the price of a single Satoshi instead of a price of a "whole" Bitcoin.

 

So let's hope not that Bitcoin will rise to $100'000 but that Satoshi will rise to $1 :D

[ThLT]

1 minute ago, Mr Meeseeks said:

1. You don't need a work permit to trade crypto. If that were the case local exchanges would require you to prove you have one when registering.

2. Yes, based on any profits made, actualised back into THB. 

3. See point #1

1. That's false. That is work according to the Labour Department. Foreigners have been kicked out of Thailand for trading on non-Thai exchanges. Heck, foreigners have been kicked out of Thailand for volunteering. 

2. Correct.

3. Again, trading is considered work according to Thai law. 

 

Tell me: if it's isn't considered work, then why would you have to pay taxes on it?

[Neeranam]

3 minutes ago, ThLT said:

Did you fail high school math? ????

 

Whatever you want to call it, Bitcoin can be divided into 2,100,000,000,000,000 units. It's not rocket science.

I studied pure MathS at university actually, next. 

[lkn]

11 minutes ago, Mr Meeseeks said:

You Euro is not backed by anything tangible except government promises and debt.

And trade. But nobody is pumping EUR as a great investment that will appreciate 15+% per year.

 

People buy EUR if they travel to Europe and have to pay for goods and services, if they want to import products from Europe, or invest in European businesses. That creates demand for EUR and gives it value relative to other currencies. And unlike e.g. BTC demand created by Silk Road, the demand is not just temporary, because the money stays in EUR because exporters etc. have to pay expenses and taxes in EUR, unlike sellers on Silk Road, which immediately sold their BTC for USD or similar.

Edited January 23, 2022 by lkn

[ThLT]

1 minute ago, Neeranam said:

I am not working illegally and of course pay my taxes. 

Since you say you don't have a work permit, you are working illegally. 

And if you wouldn't be working, why would you have to pay taxes on your earnings?

 

 

[Stocky]

33 minutes ago, Neeranam said:

I am not American, but British, what is your country

 

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/l55o/mm23