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greg71

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Posts posted by greg71

  1. 2 hours ago, Firefan said:

    I am going to Bangkok office (MTT) to do my 90 day report now that system is down. I have heard 2 versions from there as to what they do without the printed 90 day slip (just printed email). One said "come again tomorrow" (makes no sense as system down tomorrow too), another said: "ok, but remember print next time" and renewed based on just the email.

    Anybody else can advise experience in that case?

    I did mine at MTT on Monday with just the printed email - not a prob , also i made an online booking was in and out in under 10 minutes .

  2. On 2/18/2021 at 2:10 PM, allanos said:

    Then why Bitcoin, a series of zero's and one's residing in the ether?

     

    There are over 7 000 crypto coins and tokens out there, which, with one or two exceptions, like Ethereum or Litecoin, possibly, have little or no value but may be subject to speculative fever. Of these, Bitcoin is the pre-eminent digital asset, and there are no serious challengers around, just as gold has never had a serious challenger to its prominence by silver, platinum, etc.

     

    Bitcoin has become a trusted, mainstreamalternative asset, akin to gold, let's say, but one which is now accepted and adopted in the digital world in which we are increasingly living in. 

     

    Gold, over time, supplanted things like barter, shells and wrought goods.

     

    Not so long ago, gold was used to back the strongest currencies in the world, the so-called Gold Standard. The US Federal Reserve (a privately-owned company, by the way), promised to pay the bearer of a dollar bill an equivalent amount of gold if so requested, at any bank. The gold standard had to be dropped though, largely through the inflationary effect of "money-printing" which meant that gold had to be re-priced to back the increase in circulating money, and which was ultimately unsustainable. In a world now sloshing around with trillions of dollars of fiat, a return to the gold standard would need a bullion price of around $15000.00 per ounce, and growing!

     

    But why gold in the first place? What is gold, after all? Just a rare-ish shiny piece of refined rock, difficult to extract from the ground.  Through adoption over a long period of time, however, it was deemed to be valuable. It was trusted by the mainstream. It could be turned into glittering jewellery, and, in the electronic age, be put to certain industrial uses, but not much else.

     

    We can all see how gold's utility is limited. Try to send $1m of gold bullion from London to New York. How possible is it? How long will it take? What are the handling costs? What are the shipping and security costs? Could it be hijacked or stolen? And what will it be used for when it arrives in Manhattan or somewhere? Try buying a cup of coffee, or a pair of shoes even. It will first need to be tested for purity and converted to fiat. There will be a middle-man's fees and charges on both sides of the Atlantic, and the ruling price could possibly be higher, or lower, than the attributed value when the transaction was first initiated. In short, a degree of volatility.

     

    One million dollars of of Bitcoin can be transmitted in microseconds through the ether, arrive in the USA and be converted to dollars instantaneously, if required.  Not much time for volatility. No middle-men. The cost of the transaction? Pennies!

     

    All the gold ever mined is above ground, roughly $10 trillion dollars of it. Someone (was it Buffet?), has called it a barbaric relic! If it was Buffet, he has subsequently changed his tune, because he has recently invested in Newmont, or Barrick, seeing some value there for Berkshire Hathaway. It surely won't be long before he recognises what Bitcoin will do if added to his portfolio!

     

    Pundits believe Bitcoin's value will ultimately rise up to the ruling market cap of gold, whatever that will be at the time, and, perhaps, surpass it. That would speak to a value of $500k for each Bitcoin. Remember, there can never be more than 21m Bitcoins produced, and which is just one of its many important properties.

     

    All of which brings us to the digital age. A time when technology is evolving at break-neck speed. Banking and the financial world generally have to catch up. Hence the increasing adoption of Ethereum, for example, which has a different set of fundamentals to Bitcoin's, a different use-case, so-to-speak.

     

    There has to be a different mechanism which must align with digitisation and be a long-term store of value as a hedge against the continuing devaluation of fiat currencies. Bitcoin has risen to the top of the pile. It has a horizon of over 100 years into the future, perhaps a lot longer.

     

    And, by the way, digital fiat currencies which are at present under development by certain central banks, will be just as much subject to inflationary devaluation as their paper equivalents, which will continue to be used alongside the digital ones.

     

    However, central banks have also recognised the increased level of control of populations that can be brought to bear through the medium of digital currency adoption. The possibilities are breath-taking. Decentralised Bitcoin is something of a counter to this exposure and the wise, the fore-sighted, the enlightened, will make sure they have a portion on their personal or family balance sheets. These are the folk who recognise that Bitcoin is a monetary network, somewhat like Face Book is a social network now used by around 1.3bn people around the world, and in the early days of adoption.

     

    Side note: Some conspiracy theorists believe that the ongoing corona pandemic is simply a dummy run for greater and greater future government control, which will be bolstered in a few short years by the elevated control of directed digital currency taxation and payment systems. Does the theory have any merit?

     

     

     

     

     

     

     

     

     

    Maybe have a look in AMPL - truly exceptional project based on a concept by Friedrich Hayek

  3. 1 hour ago, Sheryl said:

    PR for everyone who buys a condo (without requirement of having worked and paid taxes) would be welcome. They should also remove the "worked and paid taxes" requirement for PR on basis of investment.  It makes no sense, investors are unlikely to be employees in Thailand.

     

    Reduce the threshold for PR on basis of investment for long term residents here (retirees and those with Thai families) would also be wise and bring in more investment. the 10 million threshold is out of reach even for most of the more affluent retirees but say 5 million could be.

    Ans what about those of us who already own condos ? 

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