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14 minutes ago, Dazinoz said:

And I paid high taxes many years in Australia and may have a battle to get OAP because I came to Thailand for an extended holiday.

Extended holiday...

 

Do you mean a many decades holiday, or are you referring to the often misunderstood regulation re 'more than 6 weeks out effects/cancels your pension payments?'

 

 

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1 hour ago, scorecard said:

To all, thanks for all of your valuable comments.

 

The reality is that for me any activity would be in my Thai adult son's name. He's obviously a Thai citizen, he's located in Thailand with his wife and kids and he has no status in Australia.

 

He's read a lot about bitcoin and is keen to try. His profession (well qualified) is not in finance, banking, investment etc., and he knows he needs to do a lot of learning how to invest in bitcoin and make some money.

 

He's also asking me to learn with him and to make decisions together. I'm willing. 

 

Therefore my post to ask if other members have any knowledge of stable, honest, professional Bitcoin operators located in Thailand. 

 

And advice/information on my question just above much appreciated, thanks.

 


I used to use the Thai exchange called BX, until it closed down.  It was very good, never had any issues with using it.

I now use Bitkub.com also very good, has a good phone app although I do all my buying and selling through the proper website.  

 

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27 minutes ago, Natai Beach said:

One of my best mates is Greek, been on the dole for years, works for cash on the side, grows marijuana. Funny bloke.

 

Your mate is therefore a solid statistic then.

 

The Greeks and Italians that worked and contributed to Australia are all dead or in their 90's, your obviously too young to have know any of them or been privileged to have had them work for you or seen them work.

 

By the sounds of your mate, seems like the offspring of one of the above.

 

Anyway, I am leaving it at that, can't stand debating with those who know everything.

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2 hours ago, Dazinoz said:

The wording may have changed to welfare but it doesn't changed the fact that Australian workers paid into the OAP retirement fund many years. I have an idea why the name was changed but I won't get into government BS here.

 

My wife in Australia is getting a Carers Payment and that is welfare even though technically all welfare payments from the government paid by Australian tax payers.

Thought the Australian pension is means tested, so if you have any money you would not be eligible for a pension,

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12 minutes ago, Natai Beach said:

Which is another reason to be a self funded retiree. The problem is people feel entitled to a pension because they “paid tax”.

The tax was spent on schools, hospitals and roads so you benefitted from that. 

 people who actually pay the most tax and contribute the most, live within their means and who fund their own retirement don’t qualify. 
But everyone who pเsses their pay up against a wall, plays pokies, lifetime dole bludgers are ALL on the pension.

 

Taking the pension is welfare. I was brought up to reject any form of welfare. Up to me.
 

I have paid millions in tax but I don’t feel in anyway entitled to amp OAP.

You obviously don't know the FACTS. Many years ago, not sure when, the Australian tax payer's tax was increased by a percentage to fund their retirement in the form of a pension. This is not the year to year tax funding of hospitals, etc as you speak. I think you need to research the facts and stop referring to OAPs as bludgers. 

 

I paid high taxes and I funded my own superannuation and never expected to need tp access the OAP. Coming to Thailand destroyed that misconception.

 

In all my working life I never received a single day of welfare but I am quite happy to go and receive some of the extra tax I paid that the government of the day set up to fund OAPs.

 

You think you know it all but obviously don't.

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39 minutes ago, 4MyEgo said:

Anyway, I am leaving it at that, can't stand debating with those who know everything.

You have previously talked about your investments.
 

But are relocating to Australia and planning your life around getting the OAP, so no plans to self fund your retirement. You are returning to Australia so you can get on welfare because you feel entitled to it.
 

it is what it is. 

 

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9 minutes ago, flynn said:

Thought the Australian pension is means tested, so if you have any money you would not be eligible for a pension,

Yes it is means tested and if I did have money I would not expect to receive it. You can own your own house and at a certain level of other assets it starts decreasing right down to zero.

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On 3/4/2021 at 12:57 PM, donnacha said:


This is a tough to explain to people but, if your investment period is two weeks, you need to stay the Hell away from crypto.

When we say that an asset is highly-volatile, it means that there are massive swings every week, even when things are going well. The reason why we stick with such assets is because the general trend, over the courses of months and years, is impressively profitable.

If you bought Ethereum 3 months ago you are currently up 300%.

If you bought 6 months ago you are currently up 500%.

If you bought one year ago you are currently up 1000%.

Again, my recommendation is not Ethereum but Bitcoin, I am confident it will see major gains before the end of this year, and I am extremely happy with its long-term performance so far, I have made tens of millions from it.

No one should invest money in anything if they can only afford to leave it in for two weeks. Is this an Australian thing?

 

ADA Cardano will be the next ETH Etherium. As of today a dip. Time to gobble up and yes don't bet more than you can loose. It is a longer time investment and know what the heck you'r doing. And yes currencies are crashing. The planned demolition of the middle and lower class by your masters. Wake up and pay attention. History repeats it's self if you let it. Nuff said Cheers.

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47 minutes ago, flynn said:

Thought the Australian pension is means tested, so if you have any money you would not be eligible for a pension,

 That is correct. Same with the dole. 
 

If you work hard and save you won’t be entitled to it. 
Sit on the dole all your life and don’t save you are guaranteed it. 
Seems some people are in denial.

 

Dazinoz claiming he paid a special tax that self funded retirees didn’t pay is not true.

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On 3/4/2021 at 1:18 PM, scorecard said:

 On the other side of this subject, can any members suggest a reliable/credible organization in Thailand to get into Bitcoin, preferably with their literature etc., in English and Thai language?

 

(This would be all registered, transacted in my adult Thai son's name.)

Bitkub.com, extremely good and I fully trust them, knowing the CEO. 

 

Can't you use your own name?

 

My 18-year-old daughter is going to be opening an account as she goes to Uni away this year and it's an easy way for me to send her funds. 

 

now is a good time to buy btc. I recommended my sister, In Melbourne to buy ETH and BTC a couple of months ago and she has already taken out her initial investment. I recommend doing this if you are a beginner. It's easier for experienced guys to trade the dips but not all want the stress/risk.

 

Actually, I'm buying BTC right now on Etoro, as it's the best way to get some cash from Scotland to here. 

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1 hour ago, scorecard said:

Extended holiday...

 

Do you mean a many decades holiday, or are you referring to the often misunderstood regulation re 'more than 6 weeks out effects/cancels your pension payments?'

 

 

Well I am not a Thai resident and could be kicked out anytime so I must be only on extended holiday here. And no it has not been many decades and in fact less than 1.

 

I am not yet on the pension so can not be cancelled. The rules state now you must be receiving the pension 2 years in Australia it can be made portable at a reduced rate.

 

What I was referring to was the 2 year rule. Some are saying you must be back in Australia 2 years before getting the pension if past entitlement age. My account and others say if past entitlement date you can get immediately after arriving back in Australia but must wait 2 years for portability. If I go back and get pension no way I will be coming back to Thailand.

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15 minutes ago, Neeranam said:

Bitkub.com, extremely good and I fully trust them, knowing the CEO. 

 

Can't you use your own name?

 

My 18-year-old daughter is going to be opening an account as she goes to Uni away this year and it's an easy way for me to send her funds. 

 

now is a good time to buy btc. I recommended my sister, In Melbourne to buy ETH and BTC a couple of months ago and she has already taken out her initial investment. I recommend doing this if you are a beginner. It's easier for experienced guys to trade the dips but not all want the stress/risk.

 

Actually, I'm buying BTC right now on Etoro, as it's the best way to get some cash from Scotland to here. 

Did you look at coins.co.th?

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1 minute ago, Dazinoz said:

Did you look at coins.co.th?

A long time ago. I have an account there but Bitkub is much better in many ways, like volume, customer service. 

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19 minutes ago, Neeranam said:

A long time ago. I have an account there but Bitkub is much better in many ways, like volume, customer service. 

So you already have.

Edited by Dazinoz
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24 minutes ago, Dazinoz said:

So you already have.

 think I have an account with coins and satang. Actually, I can't log in a I've got a new phone and don't have the 2Fa thing.

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Posted (edited)
6 hours ago, Dazinoz said:

Well I am not a Thai resident and could be kicked out anytime so I must be only on extended holiday here. And no it has not been many decades and in fact less than 1.

 

I am not yet on the pension so can not be cancelled. The rules state now you must be receiving the pension 2 years in Australia it can be made portable at a reduced rate.

 

What I was referring to was the 2 year rule. Some are saying you must be back in Australia 2 years before getting the pension if past entitlement age. My account and others say if past entitlement date you can get immediately after arriving back in Australia but must wait 2 years for portability. If I go back and get pension no way I will be coming back to Thailand.

 

- You must be physically in Australia to lodge the OAP application, you can lodge the day you arrive back in Australia, either at a Centrelink office or on line.

 

All of the above is true regardless of how long you've been outside of Australia and regardless of whether your older than the basic OAP age. 

 

There are 2 forms:

 

1). The main OAP application form, about 34 pages, all very easy to understand, about 95% of the questions weren't relevant to me so the whole thing was easy to complete.

2). Assets and Income statement, easy to understand, easy to complete. 

 

- You need one personal visit only to Centrelink to do 2 things:

a. Get a personal Centrelink number.

b. To show the originals of the documents you are using to prove your identity. They don't keep the originals.

 

  Past this everything can be done online or by phone.

 

- I was approved in just over 3 weeks. Being outside of Australia for a long period doesn't delay or complicate getting your approval and doesn't delay the start of the payments.

 

Applying well after the normal pension age is not 'challenged' in any way by Centrelink and doesn't change the payments in any way.

 

- I got a pleasant phone call from a young man who told me my OAP had been approved and he carefully explained that I would get a first payment, the amount and how the amount was calculated, all done clearly and easy to understand. Then he explained that I would get standard payments every 2nd Thursday.

 

Next day I got a letter by express mail setting out clearly everything the young officer had explained on the phone. The first payment was in my bank early the morning after the phone call.

 

- If you've been outside Aust. for an extended period your payments start quickly, there is no delay, if approved.

 

- You do have to stay in Australia for 2 years to gain 'portability' (payments deposited to any bank account you nominate anywhere in the world forever. And you can change the bank name and location as you wish).

 

- You must tell Centrelink when you leave Australia but they know anyway because they have an open link to immigration/passport activity.

 

If your outside of Australia more than 6 weeks your energy allowance automatically cancels but is auto. reinstated when you return.(about AU$14 per fortnight)

 

- During the 2 years back in Australia to gain portability you can travel abroad several times, If your stays outside are under 6 weeks it doesn't affect accumulation of the 2 years. Longer than 6 weeks out and they can tell you you need to do some extra time to gain the full 2 years and therefore gain portability. I don't know the full details on this point but my understanding is that the extra time in not long.

 

- If you do leave Aust. permanently after the 2 years you must tell Centrelink (they don't challenge you in any way) and you must update your address records with Centrelink. Again, your energy allowance will stop.

 

Your OAP payments will change to 4 weekly deposits into your overseas nominated bank account. Bank fees are very minimal, and the payments appear in your overseas bank account on the same day the pension payments are due.

 

- But you can nominate that the payments continue to be paid into an Aust. based bank account.  

 

- Any idea that the basic OAP amount reduces substantially if you remain outside after you have gained portability is not true.

 

If it's discovered that your outside Aust. and your still showing an Australian address this can invoke a simple investigation and if you have been overpaid they will deduct the overpayment from future pension payments. But in reality this shouldn't happen because of the auto. alerts they receive from Aust. immigration when you depart/return to Aust.

Edited by scorecard
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  • 3 weeks later...

Bitcoin and other crypto is legal to invest in,  in Australia.  You should have nothing to worry about even if you use your pension payments to buy it.  It is very risky like any regular stock,  but if you follow a few rules you may be able to have luck profiting from it.  As others have said if you do profit from the sale of bitcoin,  you are under the obligation of your countries taxation laws.  Here are some basics you should consider if this is the path you decide to take.  Don't just go all in and start buying crypto! Study charts and watch news and see how the numbers are affected.  They Definitely follow somewhat of a pattern.  Consider dollar cost average when making purchases.  If you are not sure what that is you should study a little and find out.  You should also pay attention to what is called the "fear greed" index.  Watch this for a few and you may see a correlation.  If you have money in crypto you will understand it even better!  I use an app called coinbase. It is easy to use and makes it very easy for you to see exactly what you are doing.  Follow this link to download it and if you do you will get $10usd of free bitcoin when you make a purchase of $100usd or more - coinbase.com/join/bachar_37o?src=android-link

 

You can also mine a potential new crypto on your phone for free.  There is no catch and it will help you understand how crypto is minded.  It is called Pi. You have to be invited to be able to mine it so use this link and my invitation code. https://minepi.com/Jthunder and use my username (Jthunder) as your invitation code.

 

Choke dee and if you have questions feel free to ask.  
 

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1 hour ago, sdshaman said:

 

Bitcoin and other crypto is legal to invest in,  in Australia.  You should have nothing to worry about even if you use your pension payments to buy it.  It is very risky like any regular stock,  but if you follow a few rules you may be able to have luck profiting from it.  As others have said if you do profit from the sale of bitcoin,  you are under the obligation of your countries taxation laws.  Here are some basics you should consider if this is the path you decide to take.  Don't just go all in and start buying crypto! Study charts and watch news and see how the numbers are affected.  They Definitely follow somewhat of a pattern.  Consider dollar cost average when making purchases.  If you are not sure what that is you should study a little and find out.  You should also pay attention to what is called the "fear greed" index.  Watch this for a few and you may see a correlation.  If you have money in crypto you will understand it even better!  I use an app called coinbase. It is easy to use and makes it very easy for you to see exactly what you are doing. 

 

Thanks for the info but i already have an exchange in Australia and have $31,000aud (purchase price)worth of crypto which is currently valued at $270,000aud.

 

1 hour ago, sdshaman said:

 

You can also mine a potential new crypto on your phone for free.  There is no catch and it will help you understand how crypto is minded.  It is called Pi. You have to be invited to be able to mine it so use this link and my invitation code.

Seriously? I have a friend in Chiang Mai who had 2 high powered modern miners and just got out of it as it was no longer viable for him. Mining on a phone? Maybe but have to live to 300 to make a profit. Sounds a scam to me and I will stick very clear of it but thanks for the offer.

Edited by Dazinoz
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On 3/4/2021 at 1:18 PM, scorecard said:

 On the other side of this subject, can any members suggest a reliable/credible organization in Thailand to get into Bitcoin, preferably with their literature etc., in English and Thai language?

 

(This would be all registered, transacted in my adult Thai son's name.)

Bitkub is excellent.

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