Anyone know the process of transferring money from a TD ameritrade brokerage account to a Thai bank account and if this is even possible? If someone has done this before please share the process on how to do it and if there's any fees that I need to pay. submitted by
I live in the states. What is the best way to transfer baht to usd if it is over 50k? I read some posts but it was all under 50k. Please put as much details as you can. Thanks. submitted by
I'm moving from Thailand to Angeles PI and understand that while my application for an ACR card is being processed I won't be able to open a local bank account. submitted by
For anyone who has gone through this do you have any tips on speeding up the process or doing anything in advance of the move over?
Also, will I basically have to live on the cash I bring over and/or getting hit with ATM fees/bad forex rates, or is there a better way to send or store money from my Thai bank accounts?
• The indivisible minimum KRATSCOIN unit is 0.00001 instead of 0.00000001 to denominate realistic currency rates in FOREX. Denomination cannot be determined or dictated by the value of a currency. If KRATSCOIN is valued at USD10,000.00 then the smallest unit of KRATSCOIN at 0.00001 = USD0.10 and nothing smaller than USD0.10 in KRATSCOIN.
Example: If USD1.00 = THB30.00 and the smallest denomination of USD is USD0.10, then a USD0.10 which is THB3.00, is unable to buy a piece of candy at THB1.00. Thus the USD must be converted into a smaller currency of THB in order to buy the THB1.00 candy.
• KRATSCOIN is in-line with standard International Foreign Currency Exchange Practice at indivisible minimum unit 0.00001.
• Each KRATSCOIN is equipped with a 13 digit “SERIAL CODES AND NUMBERS” and there will be a total of 2,100,000,000,000 SERIAL CODES in total.
Example1: 1st KRATSCOIN = AKDJFYRS.00000 Example2: 1st Fraction from 1st KRATSCOIN = AKDJFYRS.00001 Example3: 2nd Fraction from 2nd KRATSCOIN = AKDJFYRS.00002 Example4: Last KRATSCOIN = DLXVZKWR.00000 Example5: 1st Fraction from Last KRATSCOIN = DLXVZKWR.00001 Example6: 2nd Fraction from Last KRATSCOIN = DLXVZKWR.00002
• In Year 2015, Silk Road in DeepWeb utilization of Bitcoin in their transactions amounts to USD1.2billion spanning over 950,000 users. One may argue that Bitcoin is most utilized by the black market, which then maintains its value and worth among other factors. However, the USD1.2bil a year over 950,000 users are far fetch from the Legitimate Users in comparison. Bitcoin transactions runs into USD40.0bil in recent Legitimate Crypto Exchanges. In summary, legitimate transaction of crypto currencies is many times larger use in illegal transactions.
DIFFERENCE BETWEEN FIAT AND CRYPTO:
• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" [[link]6
''' DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN Go1dfish undelete link unreddit undelete link
1: lintangnews.c*m/ada*kr**s*o*n-*ni-be*a*ya-d*ngan-bi***in* 2: 0xzx**o***019101*124431*902.*tml 3: ne*s.*oko**y*to.com/*ag/**atsco*n-kt*/ 4: bbs.**anya.cn/p**t-l*ok*u*-836*0*-*.shtml 5: z*uanlan.z*i*u.*om*p/*4*44615 6: l*nta*g*ews.*o*/ada*kr*ts*o*n-*ni-***a*ya-d*ngan-bitcoin/]^^1 7: 0x*x*com/2019101**24*312*02*ht**]^^2 8: news*t**ocr*p*o***m/tag/kr*tscoin-ktc/]*^3 9: bbs.*i*n*a.cn/p**t-loo*ou*-8*61*5-1.sht*l*^^4 10: zhuanl*n.zh*hu.co*/**84**461*]^^5
Unknown links are censored to prevent spreading illicit content.
Ok I'm going to be ultra conservative right now and try and calculate our possible staking rewards at this point. First, let's look at some facts:
Omise has about 55.000 merchants at this moment using their product at this moment (taken from their website) Let's just say every merchant handles about lets say 60 dollars per day. This is ultra conservative. Let's not forget McDonalds Thailand is added to the merchant list and they are also based in Singapore and Japan. Now I've been in those 2 countries and you pay 20 dollars for a beer sometimes. They are expensive. For a complete list look at the marchant list of Omise: https://www.reddit.com/CryptoCurrency/comments/71h2gv/omisego_merchant_list/
. Note they have Thai Airlines on there as well. They just need 0,5 costumers a day to buy 1 ticket to get to that 60 dollar a day, just saying.
Okay so we have 55.000 merchants, handling 60 dollars a day, for 365 days a year (on average, weekdays probably more busy or perhaps saturdays the most busy day of the week, no one knows). That is 1,2 billion dollars a year at the very least. This is JUST the amount of money OMG handles on their regular payments network. This is so freaking conservative I it's funny.
Ok so now we have established OMG will handle about 1,2 billion dollars per year just on their payments network.
Then we have the international conglomerate, TOPPAN, GlobalBrain, Tendermint, Electrify, and most importantly TrueMoney as partners and users of the blockchain. The last one transferring 4 billion dollars over 6 countries according to Jun. This is the tweet: https://twitter.com/jun_omise/status/917556490189266945
Let's be ultra, ultra conservative and say that adds about 3,5 billion dollars to the network. That totals 4,7.
THEN we have Tendermint/COSMOS. This is where it gets interesting. OMG has a longterm partnership with Cosmos, creators of Tendermint. (source https://blog.omisego.network/approach-to-delivering-scalability-56d034619ef0
). Omisego will go live on this network and start their PoS protocol here first. Then move to Plasma once its complete. This could also mean that tendermint volume will transact through the OMG network once its own blockchain goes live in order to keep transaction costs as low as possible and allow for even more transaction than tendermint is able to do right now. Why else would they partner up?
Lets take a close look at this tweet, retweeted by Tendermint on twitter: https://twitter.com/cerebralbosons/status/944291345597943814
"Just found out there's a production app that's been running on the @tendermint_team platform for 9 months and clears half a billion $$ a day!" In the comments I found the production app is https://fxclr.com/
The Forex Exchange clearing house.
Half a billion dollars. Per day. Let that sink in. However, lets be ultra conservative and make that 5 billion dollars per YEAR for an app/business that does only 0,0027% of that amount (I feel stupid for being THAT conservative really). That brings our total to 5 + the earlier mentioned 4,7 billion to 9,7 billion dollars. Now lets also assume that MAYBE some other businesses, merchants or even a freaking NATION STATE as mentioned by Thomas Greco at the Token summit bring another 1,3 billion dollars to the table. This gives us 11 billion dollars through the network per year. Now again, I believe this is ultra conservative and I think this can actually be 2 or even 3 times as high right off the bat as they have a White label wallet, meaning any business can just plugin to the OMG network with the blink of an eye for 2 to 5 times less transaction fees...
So what will this deliver for the stakers?
Let's take our ultra conservative 11 billion dollars and lets assume 1% transaction fees (Mind you, Omise is currently asking 3,65% per transaction). Also lets assume about 52 million coins are staked from the current circulation supply + the 38million OMG hold themselves meaning 90 million staked coins.
11 billion x 1% fees divided by 90 million stakers = 1,22 dollars per staked coin per year. This is the ABSOLUTE, laughable conservative minimum in my eyes.
With a current trading price at 17,81 that gives you a 6,8% return on your initial investment. This is why you buy NOW.
As noted by Omise on their website, they have a 500% increase in transaction from 2015-2016. Adoption rate can be fast, especially with low fees and the most possible transactions in crypto. They are unbanking the banked and they are banking the unbanked. They have a decentralized exchange, they are in talks with a messaging app (source: crowdsale doc), others can stick into the OMG network with their SDK wallet, they have SO MUCH going on right now.
This has so much potential I cant even wrap my head around it anymore. Like Thomas Greco said at the token summit (https://www.youtube.com/watch?v=1eluNnM0f9Q
) : a 1 billion market cap is potentially insignificant. I believe it is.
Let's compare bitcoin to its symbolic twin, the Thai baht. In the 90s, billions of dollars were invested in Thailand. In 1997, the currency came under speculative attack and a rush to exit the baht occurred. What policy options did the Thai government have to defend the value of the baht against short sellers and prevent capital flight? submitted by
Dollar reserves: the central bank buys baht to prop up the price. Obviously this is not relevant to bitcoin.
Interest rates: the central bank makes holding baht more attractive by raising interest rates. This doesn't seem relevant either; are there bitcoin bonds? Contemplate the difference between an income-generating investment and currency speculation.
Capital controls: restricting the sale of baht blocks capital outflows. This is currently in effect for bitcoin, because bitcoins are not really liquid.
Now it's the future and bitcoin is a real currency with deep forex markets. What's protecting it from an attack? Remember that Thailand had a real economy worth billions of dollars and millions of people used the baht to pay salaries, make loans, etc.
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