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The Bitcoin, Blockchain, and Cryptocurrency Thread
- Green Nomad
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Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Thanks for the good info buksida.
GN.
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Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Binance may be an option also if they open in Thailand, but the junta is about to sting crypto traders with a 15% tax.
Binance Ties Up With Bangkok Billionaire on Thai Crypto Exchange
Binance Holdings Ltd. reached an agreement with Thai billionaire Sarath Ratanavadi’s Gulf Energy Development PCL to study a digital asset exchange in the Southeast Asian nation.
The Bangkok-based firm said the memorandum of understanding with Binance, the world’s largest crypto exchange by trading volume, is driven by the likely “rapid growth” of Thailand’s digital infrastructure in the coming years, according to a letter to the Stock Exchange of Thailand seen by Bloomberg.
A Binance spokesperson said “it’s the first step” to exploring opportunities in Thailand. Gulf Energy Development and the Thai stock exchange didn’t immediately respond to requests for comment.
The partnership marks the latest effort by Binance to institutionalize its global operations. Last month, the company received preliminary approval from Bahrain’s central bank to be a crypto-asset service provider and signed a deal with the Dubai World Trade Centre Authority on virtual asset regulation.
https://www.bloomberg.com/news/articles ... f=323RPL5z
Binance Ties Up With Bangkok Billionaire on Thai Crypto Exchange
Binance Holdings Ltd. reached an agreement with Thai billionaire Sarath Ratanavadi’s Gulf Energy Development PCL to study a digital asset exchange in the Southeast Asian nation.
The Bangkok-based firm said the memorandum of understanding with Binance, the world’s largest crypto exchange by trading volume, is driven by the likely “rapid growth” of Thailand’s digital infrastructure in the coming years, according to a letter to the Stock Exchange of Thailand seen by Bloomberg.
A Binance spokesperson said “it’s the first step” to exploring opportunities in Thailand. Gulf Energy Development and the Thai stock exchange didn’t immediately respond to requests for comment.
The partnership marks the latest effort by Binance to institutionalize its global operations. Last month, the company received preliminary approval from Bahrain’s central bank to be a crypto-asset service provider and signed a deal with the Dubai World Trade Centre Authority on virtual asset regulation.
https://www.bloomberg.com/news/articles ... f=323RPL5z
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Thailand’s Bitkub plans crypto expansion in SE Asia
Bitkub, Thailand’s biggest cryptocurrency trading company, plans to expand its operations into other south-east Asian countries this year, said founder and chief executive Topp Jirayut Srupsrisopa.
Topp said that while Bitkub was not embarking on a “bloodshed war” with dominant trading platforms in the region such as Indodax, one of Indonesia’s biggest Bitcoin and crypto exchanges, it was targeting countries without strong incumbents.
“We are planning to go into a country without a clear winner yet because we don’t want to go into a war with big established players,” Topp said in an interview with the Financial Times.
https://www.ft.com/content/0aa3acff-e6c ... 1f76cee7f7
Probably not a bad idea seeing as the Bank of Thailand wants to quash the crypto industry.
Bitkub, Thailand’s biggest cryptocurrency trading company, plans to expand its operations into other south-east Asian countries this year, said founder and chief executive Topp Jirayut Srupsrisopa.
Topp said that while Bitkub was not embarking on a “bloodshed war” with dominant trading platforms in the region such as Indodax, one of Indonesia’s biggest Bitcoin and crypto exchanges, it was targeting countries without strong incumbents.
“We are planning to go into a country without a clear winner yet because we don’t want to go into a war with big established players,” Topp said in an interview with the Financial Times.
https://www.ft.com/content/0aa3acff-e6c ... 1f76cee7f7
Probably not a bad idea seeing as the Bank of Thailand wants to quash the crypto industry.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Crypto meltdown erases $1 trillion in value
Bitcoin down 50% from November peak as risk-off sentiment batters cryptocurrencies
https://www.bangkokpost.com/business/22 ... n-in-value
Bitcoin has now shed more than 50% from its record high in November while adding further momentum to the latest meltdown in cryptocurrencies.
Bitcoin’s decline from its peak has wiped out more than US$600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market.
While there have been much larger percentage drawdowns for both Bitcoin and the broader market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.
Bitcoin fell as low as $34,042.78 on Saturday, a drop of 7.2%, before paring most of those losses. Other digital assets also slid, with Ethereum down 12%. Solana and Cardano each fell at least 17%, according to Coinbase.
“Margin positions being liquidated caused a wave of additional selling pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore.
“I would expect it to take some time for a bottom to form and for confidence to return, before expecting any sort of bullishness.”
more at link
Bitcoin down 50% from November peak as risk-off sentiment batters cryptocurrencies
https://www.bangkokpost.com/business/22 ... n-in-value
Bitcoin has now shed more than 50% from its record high in November while adding further momentum to the latest meltdown in cryptocurrencies.
Bitcoin’s decline from its peak has wiped out more than US$600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market.
While there have been much larger percentage drawdowns for both Bitcoin and the broader market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.
Bitcoin fell as low as $34,042.78 on Saturday, a drop of 7.2%, before paring most of those losses. Other digital assets also slid, with Ethereum down 12%. Solana and Cardano each fell at least 17%, according to Coinbase.
“Margin positions being liquidated caused a wave of additional selling pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore.
“I would expect it to take some time for a bottom to form and for confidence to return, before expecting any sort of bullishness.”
more at link
May you be in heaven half an hour before the devil know`s you`re dead!
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Yep, shopping time!
Full bear markets usually last a year or two though (at least they have in previous crypto market cycles).
Full bear markets usually last a year or two though (at least they have in previous crypto market cycles).
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
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The Bitcoin, Blockchain, and Cryptocurrency Thread
At lot is is caused by the day traders getting too greedy and speculations on leverage. They play a big part in the volatile movements, and whilst I’m not to type to poke fun at the kisses of others, I can’t help think that it almost serves them right for being too greedy. The more that these types become liquidated the better it will be for tue space as a whole.
In the meantime, as Buks says….time to snap up a bargain![](https://emoji.tapatalk-cdn.com/emoji106.png)
Sent from my iPhone using Tapatalk
In the meantime, as Buks says….time to snap up a bargain
![](https://emoji.tapatalk-cdn.com/emoji106.png)
Sent from my iPhone using Tapatalk
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Crypto regulations coming ... not sure this is actually a good thing, Thailand never makes things easier or more convenient.
https://www.bot.or.th/English/AboutBOT/ ... 12022.aspx
The Bank of Thailand (BOT), the Securities and Exchange Commission (SEC), and Ministry of Finance (MOF) have jointly reviewed the benefits and risks of digital assets, and deem it necessary to regulate the usage of digital assets as a means of payment for goods and services, to avert potential impacts on the country's financial stability and economic system.
...
Further regulatory guidelines will be issued for certain digital assets that are supportive of the financial system and financial innovation while not posing systemic risks.
https://www.bot.or.th/English/AboutBOT/ ... 12022.aspx
The Bank of Thailand (BOT), the Securities and Exchange Commission (SEC), and Ministry of Finance (MOF) have jointly reviewed the benefits and risks of digital assets, and deem it necessary to regulate the usage of digital assets as a means of payment for goods and services, to avert potential impacts on the country's financial stability and economic system.
...
Further regulatory guidelines will be issued for certain digital assets that are supportive of the financial system and financial innovation while not posing systemic risks.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Well knock me down and call me Shirley ... finally some good news and another famous flipflop from our competent leadership.
Thailand Scraps Plans to Tax Bitcoin, Crypto Transactions
Thailand has reportedly scrapped plans to impose a 15% withholding tax on crypto transactions following a surge in cryptocurrency trading.
Earned income on crypto trading or mining can be reported as capital gains on income taxes, tax authorities said Monday, according to the Financial Times.
The new rules, outlined in a manual published by Thailand’s revenue department, will also allow traders to offset their annual losses against gains made in the same year.
“The revenue department did a lot of homework and reached out to crypto operators as well to get feedback,” said Pete Peeradej Tanruangporn, chief executive of Upbit, a crypto exchange, and co-chair of the Thailand Digital Asset Operators Trade Association. “It is much more friendly to both investors and the industry.”
The Bank of Thailand, the country’s Securities and Exchange Commission, and its finance ministry last week announced plans to issue regulatory guidelines to restrict digital currency payments.
https://www.thestreet.com/investing/cry ... ansactions
Thailand Scraps Plans to Tax Bitcoin, Crypto Transactions
Thailand has reportedly scrapped plans to impose a 15% withholding tax on crypto transactions following a surge in cryptocurrency trading.
Earned income on crypto trading or mining can be reported as capital gains on income taxes, tax authorities said Monday, according to the Financial Times.
The new rules, outlined in a manual published by Thailand’s revenue department, will also allow traders to offset their annual losses against gains made in the same year.
“The revenue department did a lot of homework and reached out to crypto operators as well to get feedback,” said Pete Peeradej Tanruangporn, chief executive of Upbit, a crypto exchange, and co-chair of the Thailand Digital Asset Operators Trade Association. “It is much more friendly to both investors and the industry.”
The Bank of Thailand, the country’s Securities and Exchange Commission, and its finance ministry last week announced plans to issue regulatory guidelines to restrict digital currency payments.
https://www.thestreet.com/investing/cry ... ansactions
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Thailand approves relaxed tax rules for digital assets
Thailand's cabinet on Tuesday relaxed tax rules for investments in digital assets to help promote and develop the industry following a surge in cryptocurrency trading in Southeast Asia's second-largest economy.
The rules, in line with an earlier announcement, will allow traders to offset annual losses against gains for taxes due on cyptocurrency investments, and exempt a value-added-tax of 7% for cryptocurrency trading on authorized exchanges, Finance Minister Arkhom Termpittayapaisith told a news conference.
The tax exemption, effective from April 2022 to December 2023, will also cover trading of retail central bank digital currency to be issued by the central bank, he said.
Digital assets have grown fast in Thailand over the past year, with trading accounts surging to about 2 million at the end of 2021 from just 170,000 earlier that year, a ministry official said in January.
https://www.reuters.com/markets/funds/t ... 022-03-08/
Thailand's cabinet on Tuesday relaxed tax rules for investments in digital assets to help promote and develop the industry following a surge in cryptocurrency trading in Southeast Asia's second-largest economy.
The rules, in line with an earlier announcement, will allow traders to offset annual losses against gains for taxes due on cyptocurrency investments, and exempt a value-added-tax of 7% for cryptocurrency trading on authorized exchanges, Finance Minister Arkhom Termpittayapaisith told a news conference.
The tax exemption, effective from April 2022 to December 2023, will also cover trading of retail central bank digital currency to be issued by the central bank, he said.
Digital assets have grown fast in Thailand over the past year, with trading accounts surging to about 2 million at the end of 2021 from just 170,000 earlier that year, a ministry official said in January.
https://www.reuters.com/markets/funds/t ... 022-03-08/
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
- Ginjaninja
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Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Lovely waves the past month. Riding a beauty just now and stop-loss already set. Keep going B.C. baby.
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Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
What level is your stop loss?Ginjaninja wrote:Lovely waves the past month. Riding a beauty just now and stop-loss already set. Keep going B.C. baby.
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- Ginjaninja
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- Posts: 1643
- Joined: Fri Sep 14, 2012 9:51 am
- Location: Never lovin land
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
I just set it below the climb and adjust as it increases.
Set it too high this morning and my B.C. sold... ahh well made a bit of $$
Set it too high this morning and my B.C. sold... ahh well made a bit of $$
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
I don't day trade anymore, but yes, markets have been very choppy recently offering nice profits for those that do!
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
Typical Thailand - we want crypto taxes, but we won't let you use crypto. A bit like how it treats tourists (we want your money but not you).
Thailand to ban use of digital assets as payments from April
Thailand has issued rules to ban digital assets from being used to pay for goods and services from Apr 1, the market regulator said on Wednesday (Mar 23).
The move was in line with earlier discussions between the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) on a need to regulate such activity by digital asset business operators as it could impact the country's financial stability and overall economy, the SEC said in a statement.
Digital asset business operators that provide such services must comply with the new rules within 30 days from the effective date, it said.
The BOT has said repeatedly that it does not support cryptocurrencies as payments. It will hold a briefing on regulatory guidelines for banks' digital asset business later on Wednesday.
In January, the regulator in Indonesia also warned financial firms not to offer and facilitate crypto sales, amid a boom in its usage.
https://www.channelnewsasia.com/busines ... il-2580821
These idiots want to be a regional hub for digital and fintech innovation, yeah right! One step forward, two steps back as usual.
Meanwhile in Malaysia ...
Malaysia should adopt crypto as legal tender, ministry says
Malaysia should adopt Bitcoin and other cryptocurrencies as legal tender, the deputy minister of the Communications and Multimedia Ministry said.
“We hope the government can allow this,” Zahidi Zainul Abidin said in Parliament on Monday, responding to a question from an opposition member of the legislature.
https://www.bangkokpost.com/business/22 ... istry-says
Thailand to ban use of digital assets as payments from April
Thailand has issued rules to ban digital assets from being used to pay for goods and services from Apr 1, the market regulator said on Wednesday (Mar 23).
The move was in line with earlier discussions between the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) on a need to regulate such activity by digital asset business operators as it could impact the country's financial stability and overall economy, the SEC said in a statement.
Digital asset business operators that provide such services must comply with the new rules within 30 days from the effective date, it said.
The BOT has said repeatedly that it does not support cryptocurrencies as payments. It will hold a briefing on regulatory guidelines for banks' digital asset business later on Wednesday.
In January, the regulator in Indonesia also warned financial firms not to offer and facilitate crypto sales, amid a boom in its usage.
https://www.channelnewsasia.com/busines ... il-2580821
These idiots want to be a regional hub for digital and fintech innovation, yeah right! One step forward, two steps back as usual.
Meanwhile in Malaysia ...
Malaysia should adopt crypto as legal tender, ministry says
Malaysia should adopt Bitcoin and other cryptocurrencies as legal tender, the deputy minister of the Communications and Multimedia Ministry said.
“We hope the government can allow this,” Zahidi Zainul Abidin said in Parliament on Monday, responding to a question from an opposition member of the legislature.
https://www.bangkokpost.com/business/22 ... istry-says
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: The Bitcoin, Blockchain, and Cryptocurrency Thread
^^ If two parties agree to payment by crypto that should be between the two parties. I'm not sure that making Bitcoin - which can be very volatile - legal tender is a good idea though.