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


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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.

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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'?

 

 

 

 

 

 

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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. ????

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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. 

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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 by ThLT
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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 by ThLT
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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?

 

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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. 

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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. 
 

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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.

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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. 

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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 by ThLT
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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.

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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. 

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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.  

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