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

[sungod]

Just now, Neeranam said:

My point is that you were implying that there is a risk in buying cryptocurrency and no risk in buying land in a Thai person's name. 

Thats right, no risk to me whats so ever. Stop assuming. My trading company/business bought it.

[Neeranam]

1 minute ago, ThLT said:

Crypto cult at it again.
For such people, being criticized = being attacked

What do you invest your money in? What returns do you get?

[Neeranam]

3 minutes ago, sungod said:

Thats right, no risk to me whats so ever. Stop assuming. My trading company/business bought it.

Of course there is a risk.  Did you actually buy the land or just a 'leasehold'?

 

 

 

 

 

 

Edited December 30, 2021 by Neeranam

[ThLT]

1 minute ago, Neeranam said:

What do you invest your money in? What returns do you get?

I will tell you this: I would be interested in buying stock of anti-cult organizations, but none are public. ????

[sungod]

Just now, Neeranam said:

Of course there is a risk. 

As is crossing the road.

 

[Neeranam]

3 minutes ago, ThLT said:

I will tell you this: I would be interested in buying stock of anti-cult organizations, but none are public. ????

So you don't invest in anything. I understand, I used to be a TEFLer. 

In fact, crypto gains got me out of that game, thank God. 

[ThLT]

1 hour ago, FritsSikkink said:

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

Exactly.

This thread is just advertising for finding gullible people that will lose all their money, so others like OP can make more money. 

ETH has potential for real-world applications. But maybe 70% and more of crypto is mostly just pyramid schemes.

 

Edited December 30, 2021 by ThLT

[ThLT]

6 minutes ago, Neeranam said:

So you don't invest in anything. I understand, I used to be a TEFLer. 

In fact, crypto gains got me out of that game, thank God. 

You were still a TEFL teacher in your 50's? You had it low.

BTW, not saying you can't make money from crypto.
What I said is: it's 100% speculation, partly a pyramid scheme, and definitely a bubble.

 

Edited December 30, 2021 by ThLT

[OneMoreFarang]

2 hours ago, Neeranam said:

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

Investing in anything brings risks. I met lots of guys who invested in something, it doesn't really matter in what. Sometimes they told me they just made lots of money (at least in theory looking on the computer at the current value of their investment). 

What I remember more are when the same guys are in a bad mood because one of their investments didn't work the way they hoped for. And sometimes badly.

 

I think my personal summary is: Be happy with a few % steady income or gamble - more or less. With the steady income you will never get exited about the huge amount of money which you just made. Because that never happens. Life is more or less boring - at least the investment part of it.

And then there are the guys who like to invest in high risk opportunities like i.e. crypto. One day they are happy and another day they are down and frustrated. If that is what they want, fine. But some of us don't want to feel that we just lost a lot of money, even if we made money a week earlier. It still feels bad. And that is why some people like i.e. me don't gamble with crypto. 

[Etaoin Shrdlu]

Wagon of Fools by Hendrik Gerritsz Pot, 1637. Followed by Haarlem weavers who have abandoned their looms, blown by the wind and flying a flag emblazoned with tulips, Flora, goddess of flowers, her arms laden with tulips, rides to their destruction in the sea along with tipplers, money changers and the two-faced goddess Fortuna.

Edited December 30, 2021 by Etaoin Shrdlu
Add text

[Neeranam]

10 minutes ago, ThLT said:

You were still a TEFL teacher in your 50's? You had it low.

BTW, not saying you can't make money from crypto.
What I said is: it's 100% speculation, partly a pyramid scheme, and definitely a bubble.

 

Yeah, easy job but terrible money. I suffered financially for 25 years. I did manage to retire recently at 55, due to my crypto investments/trading. Instead of studying at government schools, my children now study at international schools and university. Instead of paying a mortgage on a 1.8 million baht home, I could afford to buy one x5 that outright, life is good. Also, I managed to get Thai citizenship, which I couldn't have if I hadn't invested wisely, which means I can own my land.

[ThLT]

21 minutes ago, Neeranam said:

Yeah, easy job but terrible money. I suffered financially for 25 years. I did manage to retire recently at 55, due to my crypto investments/trading. Instead of studying at government schools, my children now study at international schools and university. Instead of paying a mortgage on a 1.8 million baht home, I could afford to buy one x5 that outright, life is good. Also, I managed to get Thai citizenship, which I couldn't have if I hadn't invested wisely, which means I can own my land.

You had a lot of money to invest for a TEFL teacher. Or you got into crypto at the start of the bubble?

 

Edited December 30, 2021 by ThLT

[Neeranam]

6 minutes ago, ThLT said:

You had a lot of money to invest for a TEFL teacher. You got into crypto at the start of the bubble?

 

No, I didn't, but a little soon multiplied. 

Obviously, I have put a lot of research in to crypto in those years. 

Certain things are obvious to me now, like when I heard Bitkubu was being bought by SCB, I immediately bought some for $1. I sold at $10. then bought again when I heard the news about the partnership with The Mall, and then again with the GMM Grammy news. 

I bought again yesterday as things are looking even rosier. It doesn't matter if the price of other cryptos goes up or down, the exchange always makes money. 

[Neeranam]

12 minutes ago, ThLT said:

You got into crypto at the start of the bubble?

What bubble?

 

Crypto has now been adopted by institutions and countries. 

Do you think SCB would buy into a bubble? 

[ThLT]

1 minute ago, Neeranam said:

What bubble?

 

Crypto has now been adopted by institutions and countries. 

Do you think SCB would buy into a bubble? 

Crypto bubble.
Your point is meaningless.
Hundreds of banks were literally part of the 2008 housing bubble. 
 

[Neeranam]

7 minutes ago, ThLT said:

Crypto bubble.
Your point is meaningless.
Hundreds of banks were literally part of the 2008 housing bubble. 
 

Bitcoin was invented to stop that kind of bubble happening again. 

[norfolkandchance]

Your commission down again then. Like your last Thread.

[malathione]

2 hours ago, Neeranam said:

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. 

Perhaps he prefers investments with a lower beta. And a lot of what you say is applicable only to BTC and ETH and not necessarily the less well established tokens. They can be good investments, yes, if one is actively trading. BTC, ETH, yes, probably decent investments with a longer time horizon if you can stomach the volatility.

[Yellowtail]

I got out in July and I'm done with it.

 

 

[Neeranam]

11 minutes ago, Yellowtail said:

I got out in July and I'm done with it.

 

 

Bad timing, BTC was 30k in July at a local bottom, and 67k in November. 

 

How long did you hold it for?

 

I recommend a minimum of 3 years for those who know the basics. 

[ThLT]

48 minutes ago, Neeranam said:

Bitcoin was invented to stop that kind of bubble happening again. 

Even if it was, it's still a speculative bubble itself right now. 
A bubble preventing a bubble.

 

Edited December 30, 2021 by ThLT

[ThLT]

Cryptocurrencies will eventually stabilize, and will probably even have tangible uses in the future. 

But at the moment, they are almost entirely speculative bubbles.

[Card]

Don't you need to register with the Thai tax dept at least for when you want to cash in digital currencies? I understand there is a 35% tax taken off when you have to cash through a bank. I hate the idea of having to send a tax return every year to the Thai authorities. Not worth the hassle to me.

[Jingthing]

On a related note:

 

Buy tulip bulbs!!!!!

[Neeranam]

15 minutes ago, Jingthing said:

On a related note:

 

Buy tulip bulbs!!!!!

I assume you know nothing about crypto, but happy to be proved wrong.

 

That mania lasted less than 3 years. Crypto has been here for over a decade and has been adopted by the world's major banks, hedge companies, countries, etc. 

[Neeranam]

With some people equating crypto to tulips, it brings me great hope that we are still very early in the crypto adoption curve. 

 

[OneMoreFarang]

5 minutes ago, Neeranam said:

With some people equating crypto to tulips, it brings me great hope that we are still very early in the crypto adoption curve. 

 

Somehow it's funny to see that one person here is so confident that he just knows he will make a ton of money.

 

And maybe you do. Good luck to you. But please, at least all the others, should keep in mind: things can go wrong. Don't invest more than you can afford to lose.

[Brick Top]

3 hours 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?

 

 

 

 

Well personally I would prefair to listen to Warren Buffet's views on Crypto currencies than yours 

[Neeranam]

1 minute ago, OneMoreFarang said:

Somehow it's funny to see that one person here is so confident that he just knows he will make a ton of money.

 

And maybe you do. Good luck to you. But please, at least all the others, should keep in mind: things can go wrong. Don't invest more than you can afford to lose.

The asymmetrical opportunity of a lifetime. I have nothing to gain by introducing others to crypto. The upside is so much higher than the downside, unless you invest in a low cap altcoin that no one has heard of. You really can't go wrong if you invest in the top 50 coins. Sure, you may have to wait a couple of years for the huge gains.

 

I think that reflect the demographics of ThaiVisa, ie retirees. 

Most of my family own crypto, except my older brother. My children, wife, sister, nephews, neices, mother, aunt, uncle. My Thai mother-in-law is asking how to buy Bitcoin.  

[Neeranam]

5 minutes ago, Brick Top said:

Well personally I would prefair to listen to Warren Buffet's views on Crypto currencies than yours 

Do you mean the 91-year-old guy? 

 

I'm sure he's well up to date ????