BuffaloRescue Posted April 1, 2014 Share Posted April 1, 2014 (edited) Hi I want to buy bitcoins and litecoins with money in Thailand. Prices are 10-20% higher on bitcoin.co.th and also with Thailand based traders on Local Bitcoins website. Im wondering why this is. Is there a problem transferring money to overseas sellers? Something about capital controls in Thailand. Where and how can I buy "international price" bitcoins using money from Thailand Thanks Edited April 1, 2014 by BuffaloRescue Link to comment Share on other sites More sharing options...
ukrules Posted April 1, 2014 Share Posted April 1, 2014 They're more expensive due to greed. Link to comment Share on other sites More sharing options...
wym Posted April 1, 2014 Share Posted April 1, 2014 The actual price on the ground varies tremendously from published exchange prices in all locations. It only gets closer to the theoretical price where there is a lot of volume. Not (yet) here. 1 Link to comment Share on other sites More sharing options...
speedtripler Posted April 1, 2014 Share Posted April 1, 2014 (edited) local bitcoins never stopped ,whether it was legal or not, bitcoins were and are still widely traded in thailand its just a subject most people are unaware of it if they are not personally interested in it there is definately a market for buying and sellliug them among thais and russians although ive also noticed its hard to get the international rate that gets published on international exchanges but to get that youve got to make a few bank transfers (more than likely international ) so take that into consideration for the people selling them had to get them somehow unless there professional miners and even thats costly nowadays the worlds first bitcoin lamborghini was purchased by a thai ex-pat from a us dealership https://bitcointalk.org/index.php?topic=378936.0 Edited April 1, 2014 by speedtripler Link to comment Share on other sites More sharing options...
technologybytes Posted April 2, 2014 Share Posted April 2, 2014 Bitcoins have never been illegal in Thailand. A Thai company applied to the Bank of Thailand to operate as a bitcoin exchange and was refused, it was erroneously reported by the world media that that equated to a ban on Bitcoin in Thailand. Link to comment Share on other sites More sharing options...
laobali Posted April 2, 2014 Share Posted April 2, 2014 Bitcoins are not too popular in Thailand because you can't find good fakes (yet). 1 Link to comment Share on other sites More sharing options...
johnmarhall Posted April 2, 2014 Share Posted April 2, 2014 it wont take long ... Link to comment Share on other sites More sharing options...
laobali Posted April 2, 2014 Share Posted April 2, 2014 it wont take long ... It won't be long before 'tourists' (probably from a large continent to the west) start offering actual metal coins with the Bitcoin symbol and a fractional value on Bangkok street corners. Link to comment Share on other sites More sharing options...
UbonOz Posted April 2, 2014 Share Posted April 2, 2014 I have used BitStamp many times, never had a problem. LocalBitcoins is an option, possibly pay a slightly higher price, but, you don't have international transfer fees. iBit, Singapore is another exchange which could be used. I have never transferred money out of Thailand, not sure how it works. I would like to meet anyone interested in BTC in Ubon Ratchathani. Link to comment Share on other sites More sharing options...
johnmarhall Posted April 2, 2014 Share Posted April 2, 2014 it justs shows you how stupid they are if they buy them then the tourists will be working with no work permit west from thailand is africa right so many tourists from africa come here Link to comment Share on other sites More sharing options...
jarrcbb Posted April 2, 2014 Share Posted April 2, 2014 Maybe I'm missing something but: Coinbase (base price) 479.43 with fees 484.37 to thb = 15674.21 bitcoin.co.th = 15,879 not as a big of a difference actually. Link to comment Share on other sites More sharing options...
laobali Posted April 2, 2014 Share Posted April 2, 2014 it justs shows you how stupid they are if they buy them then the tourists will be working with no work permit west from thailand is africa right so many tourists from africa come here You're really on the ball Link to comment Share on other sites More sharing options...
laobali Posted April 2, 2014 Share Posted April 2, 2014 Maybe I'm missing something but: Coinbase (base price) 479.43 with fees 484.37 to thb = 15674.21 bitcoin.co.th = 15,879 not as a big of a difference actually. The problem is that the price has dropped almost 50% this year. It's too volatile except for small value transactions. 1 Link to comment Share on other sites More sharing options...
BuffaloRescue Posted April 2, 2014 Author Share Posted April 2, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? Link to comment Share on other sites More sharing options...
laobali Posted April 2, 2014 Share Posted April 2, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? International transfers from Thailand can be tricky for foreigners; you need to check with your bank. Link to comment Share on other sites More sharing options...
speedtripler Posted April 2, 2014 Share Posted April 2, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc Link to comment Share on other sites More sharing options...
UbonOz Posted April 2, 2014 Share Posted April 2, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc The only problem with this suggestion is registering with an exchange, they require KYC/AML. So, the person and their account would need to be used each time you request a funds transfer. You would certainly need to trust the person if you choose this course of action. The account would not be in your name. Link to comment Share on other sites More sharing options...
speedtripler Posted April 2, 2014 Share Posted April 2, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc The only problem with this suggestion is registering with an exchange, they require KYC/AML. So, the person and their account would need to be used each time you request a funds transfer. You would certainly need to trust the person if you choose this course of action. The account would not be in your name. most poeple would trust their wifes id assume but TIT lol anyway ,as soon as the money lands at the exchange change it into bitcoins and send them to your wallet (not your wallet account the exchange controls but one at home ) DONT LEAVE MONEY IN THE EXCHANGES LONGER THAN NECESSARY they have a history of gettting hacked/losing everybodys money/coins etc and theres little recourse for the victims when shit happens ......... Link to comment Share on other sites More sharing options...
santaf Posted April 2, 2014 Share Posted April 2, 2014 (edited) Do your homework people, if you want to speculate on Bitcoin. Do you even know how it works? Check out this video: Bitcoin has a fundamental design flaw Edited April 2, 2014 by santaf Link to comment Share on other sites More sharing options...
BuffaloRescue Posted April 3, 2014 Author Share Posted April 3, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc The only problem with this suggestion is registering with an exchange, they require KYC/AML. So, the person and their account would need to be used each time you request a funds transfer. You would certainly need to trust the person if you choose this course of action. The account would not be in your name. What is KYC/AML? Sorry didnt understand this Link to comment Share on other sites More sharing options...
BuffaloRescue Posted April 3, 2014 Author Share Posted April 3, 2014 So can i transfer money out of Thailand to a company like Bit Stamp. Is there a limit to how much i can send to them? safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc The only problem with this suggestion is registering with an exchange, they require KYC/AML. So, the person and their account would need to be used each time you request a funds transfer. You would certainly need to trust the person if you choose this course of action. The account would not be in your name. Im not following this. Once you purchace the account you transfer it to your own wallet (from the exchanges wallet). Then you can sell them wherever or to whoever Link to comment Share on other sites More sharing options...
fishbrando Posted April 3, 2014 Share Posted April 3, 2014 What is KYC/AML? Sorry didnt understand this http://lmgtfy.com/?q=kyc%2Faml Link to comment Share on other sites More sharing options...
fishbrando Posted April 3, 2014 Share Posted April 3, 2014 I'm happy to sell Bitcoins at cost for THB. PM me if interested - we can do it through Localbitcoins.com to get the escrow feature. Link to comment Share on other sites More sharing options...
NCFC Posted April 5, 2014 Share Posted April 5, 2014 safer getting a thai to do it if possible give the money to your wife and have her send it to the exchange ,avoids a shitload of questions and having to get permission from the manager at the bank and prove this money wasnt earned in thialand from illegal working etc The only problem with this suggestion is registering with an exchange, they require KYC/AML. So, the person and their account would need to be used each time you request a funds transfer. You would certainly need to trust the person if you choose this course of action. The account would not be in your name. most poeple would trust their wifes id assume but TIT lol anyway ,as soon as the money lands at the exchange change it into bitcoins and send them to your wallet (not your wallet account the exchange controls but one at home ) DONT LEAVE MONEY IN THE EXCHANGES LONGER THAN NECESSARY they have a history of gettting hacked/losing everybodys money/coins etc and theres little recourse for the victims when shit happens ......... And ppl still think bitcoins are a good idea lol! Link to comment Share on other sites More sharing options...
YipYipYa123 Posted April 5, 2014 Share Posted April 5, 2014 They are a great, not just good idea... Keeping them secure from third parties is the problem... Nothing wrong with bit coin itself, but for sure it's wrong to trust other people with your password keys as it's basically as vulnerable as cash Link to comment Share on other sites More sharing options...
UbonOz Posted April 5, 2014 Share Posted April 5, 2014 Before anybody enters the crypto currency world they should first learn about "Money & Currency". Hopefully, Bitcoin or similar will be the future of money and currency, it is probably one of the best hopes humanity has for the future. Below is a link with very good videos which will help the learning process. http://hiddensecretsofmoney.com/videos/episode-1 Link to comment Share on other sites More sharing options...
fatdrunkandstupid Posted April 8, 2014 Share Posted April 8, 2014 Before anybody enters the crypto currency world they should first learn about "Money & Currency". Hopefully, Bitcoin or similar will be the future of money and currency, it is probably one of the best hopes humanity has for the future. Below is a link with very good videos which will help the learning process. http://hiddensecretsofmoney.com/videos/episode-1 All currencies where destined to failure when Nixon did away with the gold standard. Money is now just a blib on a screen with no inherent value. Explain to me...like I was a small child...or a golden retriever...how Bitcoin fixes this problem... Link to comment Share on other sites More sharing options...
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