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

[ozimoron]

11 minutes ago, Mises said:

I have some tulips and South Sea Company shares for sale if anyone is interested.

Can I buy them with crypto?

[gearbox]

1 hour ago, OneMoreFarang said:

Did you consider being a consultant and training all those bankers who obviously don't know what they are doing?

I am sure they will all be delighted to profit from your wisdom. 

Plenty of applicants for the consultant jobs...go to India, every tuk tuk driver is a crypto investor and knows it inside out. There are signs of massive social mobility events there, seems that the maharajas and the tuk tuk drivers will swap places soon because of the cryptos ????

[Pravda]

50 minutes ago, allanos said:

An even dumber response. Read the full post. I can explain it to you but I can't understand it for you.

Yeah...it's still dumb

[Why Me]

Bitcoin's value is based on the Reese-Novikov theory of kinetic first mover advantage in hyperbolic assets.

 

You could spend a couple of years to read up on this. Or you could invest now, make your first million and then buy the books.

Edited December 30, 2021 by Why Me

[Elkski]

Bitcoins transaction time is to long and expensive and it's transactional volume is to low according to Elon.   

Not to mention it's high energy costs.   Crypto may be here to stay but not Bitcoin. 

[ThLT]

14 minutes ago, Why Me said:

Bitcoin's value is based on the Reese-Novikov theory of kinetic first mover advantage in hyperbolic assets.

 

You could spend a couple of years to read up on this. Or you could invest now, make your first million and then buy the books.

I think you misspelled the theory.

 

[KannikaP]

2 hours ago, clivebaxter said:

Ponzi scheme for the greedy and gullible, not that many have not made on it, in the end the bubble will burst. If it were that good why do I get constant emails and messages trying to rope me in?

Buy some BTC, keep your eye on it and when/if it goes up, cash it in.

[KannikaP]

1 hour ago, gearbox said:

Plenty of applicants for the consultant jobs...go to India, every tuk tuk driver is a crypto investor and knows it inside out. There are signs of massive social mobility events there, seems that the maharajas and the tuk tuk drivers will swap places soon because of the cryptos ????

That is why they are tuk tuk drivers.

[KhruGin]

2 hours ago, Neeranam said:

How can an asset that started the year at 30k have been at a loss for 50% the year when it never went below 30k and reached 67k?

Oh dear ! Back to my original post for the graph page 4 ...so you cant understand that if someone had bought above todays price that they would be at a loss which accounts for roughly 50% of the days this year that someone invested in bitcoin? As the chart is titled "Bitcoin profitable days" and I have offered you just that yet you find that a problem as your statement was not true.

 

Oh well I chart, I do my own research, and more importantly I ignore people who give poor advice on social media and youtube in particular.

 

DYOR kids and let this thread be a distant memory. No more replies from me and goodbye as there's a lot of negative energy in trying to say anything on TV eh.

[rwill]

Not bitcoin in particular but some of the blockchain projects are better thought of as software companies that provide services.  They just use blockchain as the structure.  That said there are multitudes of tokens that are just meme projects with no real value, some of them being scams.

 

Also those talking about bitcoin volitility if you look each low never reached the low before it.  Over the last 3 years the lows were around, 3.5K, 5.2K, 30K, 41K, and now 47K.

 

 

[FritsSikkink]

7 hours ago, jesimps said:

Those that panicked and sold for lower than what they bought, however many that may be. There are a lot of patient millionaires in crypto who started with next to nothing. Patience is the secret.

Don't forget the people who got robbed of their crypto.

[ukrules]

13 hours ago, jesimps said:

Those that panicked and sold for lower than what they bought, however many that may be. There are a lot of patient millionaires in crypto who started with next to nothing. Patience is the secret.

Indeed ????

[1FinickyOne]

13 hours ago, allanos said:

For those who cannot see the parallel with bitcoin, it is pointless trying to explain.

When I look at gold and even printed currency, I see something...

 

I have yet to see even a picture of a bitcoin... you don't even get Ponzi's intestines, more the essence of his aura... concocted out of very thin air... 

[BKKBike09]

18 hours ago, Neeranam said:

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. 

Surely the key point to make for anyone wanting to get rich via crypto / markets / commodities or whatever trading is that if you're going to do it yourself (rather than via a broker or a fund or whatever) it requires a full-time commitment to identify the opportunities and make the most of them - as you appear to be doing. 

 

The future of crypto will indeed be more adoption for real world use - but at the cost of more regulation and much less volatility (opportunity). In this transition period, I do think that there's opportunity to make a lot of money from BUT that requires full-time focus. And I can see there being the mother of all crypto crashes along the way.

 

In the meantime as a speculative long-term investment, who knows? A lot of people who bought in a couple of years ago and held on - or who spend all day every day trading - have made and will make a lot of money. Good for them notwithstanding that a joke meme coin with a dog on it can be treated as an investment opportunity - and make serious money. And that's before we get into the whole ethics of billionaires like Musk boosting or tanking a coin with a single tweet - which he can do because there's no regulation. And NFT 'art' ... don't get me started. 

 

However ... all that said, if approached purely from the basis of "can I make money from this regardless of my personal views" (after all, one person's NFT could be another's Damien Hirst Pickled Sheep - I think it's worthless but if someone else thinks it's worth millions and stumps up for it ...), then worth a punt if you can afford to lose whatever you put in. 

 

I bought some BTC, ETH and MKR earlier in the year and the portfolio value was up 60% at one point; today, despite the bloodbath last couple of days, it's still up 15% thanks to the ETH. I also gave some money (on a profit share basis) to a good friend who does this stuff all day. If the crypto bulls are right, in a couple of years I'll have a tidy sum. If not, I won't be on the streets.

 

[Sametboy2019]

21 hours ago, FritsSikkink said:

It is way to volatile.

Billions have been stolen / disappeared without any compensation

Volatility is what can make you very wealthy. Billions get stolen but there are ways to protect yourself. 

Also compensation has been given by exchanges that get hacked.

[MRToMRT]

Theres a lot against crypto, they may be right as nothing in life is a sure thing. Perhaps except that all governments will start to introduce their own digital currencies (aka crypto) in the coming years. Maybe China will be first then we will all sit up and take notice as national stable coins become a very viable fiat alternative.

 

I do dabble, I don't get Bitcoin though as a store of wealth. I believe it will go up in price a lot but I just don't get it as a utility, store of value or as a currency. I plan to ride the wave (hopefully) but I still don't understand it.

Edited December 31, 2021 by MRToMRT

[ThLT]

1 hour ago, Sametboy2019 said:

Also compensation has been given by exchanges that get hacked.

That's false. Not all.

Even users who had coins in Cryptopia exchange—which went under in part because of a hack—are having difficulty getting their coins back.

 

Edited December 31, 2021 by ThLT

[davidst01]

On 12/30/2021 at 11:30 AM, MRToMRT said:

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.

Ive been into crypto for ages and wanted to help you. 

 

Its unwise to keep any crypto on an exchange. They can go bust or hacking events. 

 

I own ALL of the crypto hardware wallets and highly recommend using the trezor. Buy the latest model. 

 

Buy it direct from the company. Open the box. Go through the easy steps to set it up. You will get 12 private keys. Write them down and hide them. Even if you lose the trezor device you can upload your private keys to another wallet anywhere in the world. Also you can set up a 13th word. Its a secret wallet linked to your trezor. You dont write that down with the other 12 private key words. So basically if someone finds your 12 private key words they still cant access your wallet as they dont have the 13th word. 

 

Everyone knows the hardware wallets are the best and safest. If you dont have the private keys on your crypto you effectively dont own your crypto. Thats why people dont leave it on the exchanges.

 

cheers

[davidst01]

3 hours ago, Sametboy2019 said:

Volatility is what can make you very wealthy. Billions get stolen but there are ways to protect yourself. 

Also compensation has been given by exchanges that get hacked.

most smart folk dont leave crypto on ANY exchange

[CH1961]

22 hours ago, Neeranam said:

From the sublime to the ridiculous. 

 

Are you seriously expecting anyone to believe that? 

Nothing to believe. 

Just read the charts. 

[Sametboy2019]

On 12/31/2021 at 10:02 AM, ThLT said:

That's false. Not all.

Even users who had coins in Cryptopia exchange—which went under in part because of a hack—are having difficulty getting their coins back.

 

Wrong! Bitpoint and coincheck have both refunded hacked accounts

[fdsa]

the major mistake is treating cryptocurrencies as a money, while in fact they are stocks with unique feature of changing their ownership almost instantly and without any paperwork.

[Raindancer]

On 12/30/2021 at 11:38 AM, FritsSikkink said:

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.

 

Well said   The OP is very very aggressively pushy on this subject.  So, why has BOT warned people off bitcoin.

[Yellowtail]

14 minutes ago, Raindancer said:

 

Well said   The OP is very very aggressively pushy on this subject.  So, why has BOT warned people off bitcoin.

They want it all for themselves? 

 

Plenty of people making serious money on it. 

[sirineou]

On 12/30/2021 at 10:52 AM, 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?

 

 

 

 

20/20 hindsight is a wonderful thing , Why could you not have told me where bit coin would had been when if first started? and why cant you guarantee me where it will be 10 years from now?

Or can you? 

[Raindancer]

36 minutes ago, Yellowtail said:

They want it all for themselves? 

 

Plenty of people making serious money on it. 

And plenty losing on it too.  Check bangkok post for one scam example.

Some were even banned from Facebook!! Enough said.

 

Anyway, each to their own.

 

[Jenkins9039]

On 12/30/2021 at 11:17 AM, Neeranam said:

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

Sold some digital land plots for 8,000$ a plot, cost 99$ a plot a year or so ago.... 

[ThLT]

On 1/1/2022 at 4:32 PM, Sametboy2019 said:

Wrong! Bitpoint and coincheck have both refunded hacked accounts

And? So have many others. It doesn't mean all hacked platforms have refunded their users. Which is what the previous guy was saying before you. Clearly false.

[ThLT]

On 1/1/2022 at 5:58 PM, Yellowtail said:

They want it all for themselves? 

 

Plenty of people making serious money on it. 

People who constantly talk about Bitcoin, want others to join in, so that the value of BTC goes up (and so does their own BTC).
And also, more people who have cryptos/more popular it is, more difficult it is to ban.

This thread is basically promotion. Just read the title:
"Siam Commercial Bank moving into Crypto, why aren't you?" Marketing. OP wants that you buy crypto.

 

Edited January 2, 2022 by ThLT

[Sametboy2019]

22 minutes ago, ThLT said:

And? So have many others. It doesn't mean all hacked platforms have refunded their users. Which is what the previous guy was saying before you. Clearly false.

The previous statement was that people didnt get their money back. I didnt say all. I just mentioned two that did.