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[Ben Kempton]

Thailand is a kind of country which has interested a lots of people when it comes to cryptocurrencies. The country's people have always loved cryptocurrencies, but it seems like the government might not be in favour of certain kind of cryptocurrency-related activities, including lending digital coins and staking it. According to latest news, The Securities and Exchange Commission of Thailand has restricted many firms that lend cryptocurrencies and allow people to stake cryptocurrencies in the country. News reports have suggested that Thailand took this step in order to protect people. What do you think?

 

[fiery phoenix]

All securities authorities are banning staking and other crypto activities in the name of protecting their citizens,or consumer protection when in reality they have other reasons they are not disclosing.On the good side of things although crypto adoption has been slowed down in Thailand there is still hope because crypto trading,hodling or use for payments has not been banned

 

[btaliat]

Does staking pose any danger to the crypto users? If no, then why must the government interfere in what an individual decides to do with his money. It is the choice of the crypto users to use it the way he or she wants. I may not support lending as well as some may be charging much interest rate on it..

 

[Ben Kempton]

Does staking pose any danger to the crypto users? If no, then why must the government interfere in what an individual decides to do with his money. It is the choice of the crypto users to use it the way he or she wants. I may not support lending as well as some may be charging much interest rate on it..

There could be plenty of reasons why this might happen. It could be possible that the government might not be gaining any kind of benefit from the staking process. This also happened in my country as well when the ban was proposed to the previous government and many people were not able to get any idea about why this would happen.

 

[Horia_10]

Maybe the authorities are not getting a higher share of revenue or they are genuinely trying to help people and want to protect them by controlling the markets so that they can be saved from.staking and providing in landing companies which are not verified and can run with theirs money actually .

 

[Ben Kempton]

Maybe the authorities are not getting a higher share of revenue or they are genuinely trying to help people and want to protect them by controlling the markets so that they can be saved from.staking and providing in landing companies which are not verified and can run with theirs money actually .

The government is not able to capitalise on trading activities. When such kind of thing happens the government may become critical regarding such kind of activities. The issue with the government is that they want to tax each and every thing. They already impose taxes on real commodities like oil, food, gas, etc. They also tax the stock traders as well, so cryptocurrency traders should also not get any exemption. this is what the government thinks.

 

[Skysaint]

I still don't understand the idea of stacking cryptocurrency although I might know what lending cryptocurrency means. But I am very familiar with only two method of trading cryptocurrency and that's the spot method and the futures.
I heard people say they would want to stack cryptocurrency and I guess it's something related to trading futures.

 

[Horia_10]

Yes that's right futures trading is only related to speculation and you are actually risking money while in spot trading you are buying directly from the market at a current available price for one unit , So both of them have their own benefits and advantages indeed actually .

 

[BullyMaguire]

The government is not able to capitalise on trading activities. When such kind of thing happens the government may become critical regarding such kind of activities. The issue with the government is that they want to tax each and every thing. They already impose taxes on real commodities like oil, food, gas, etc. They also tax the stock traders as well, so cryptocurrency traders should also not get any exemption. this is what the government thinks.

Sadly that's just how they work.. everything that makes money is going to be taxed.. they often never think about the traders interest at all.. some even thinks they are entitled to 30% of everything that crypto currency owners have.. while they never provided anything at all

 

[Horia_10]

That's right the governments won't help the traders ever anywhere if they would face a loss but always ready to take the profits from the traders portfolio and this is not we want actually as a trader because its we that work hard and not our governments to provide the profits from trading for us and family .

 

[Dagov]

There could be a lot of justifications for why this could occur. It very well may be conceivable that the authority probably won't acquire any sort of advantage from the marking system. This occurred in my country too when the ban was proposed to the past government and many individuals couldn't find out about why this would occur.

 

[Horia_10]

The authorities want to save the traders from investing in a market that is almost behaving like a flop scheme and it is falling badly at this time , So that is why they have planned such activities so that they can indirectly reduce the trading and can make users to invest in the local stocks instead indeed .

 

[Jidemania]

Banning staking of cryptocurrency and the lending in the country, does it mean that any other aspect of cryptocurrency is not allowed in the country like trading of cryptocurrency or cryptocurrency is totally ban

 

[Wisdom01]

I still don't understand the idea of stacking cryptocurrency although I might know what lending cryptocurrency means. But I am very familiar with only two method of trading cryptocurrency and that's the spot method and the futures.
I heard people say they would want to stack cryptocurrency and I guess it's something related to trading futures.

Most people usually run staking to earn more interest from their cryptocurrency balances ,some do lock their cryptocurrency for a certain period of time to earn more interest off Bitcoin investment and that's staking I think tho

 

[Skysaint]

Most people usually run staking to earn more interest from their cryptocurrency balances ,some do lock their cryptocurrency for a certain period of time to earn more interest off Bitcoin investment and that's staking I think tho

Well I have actually heard about that before just that I haven't really given it a trial to see if it's something that works for me. I have only mastered how to trade spot in the cryptocurrency market and looking forward to mastering futures soonest.

 

[Wisdom01]

Well I have actually heard about that before just that I haven't really given it a trial to see if it's something that works for me. I have only mastered how to trade spot in the cryptocurrency market and looking forward to mastering futures soonest.

I am also looking forward to master futures trading , I think futures trading is where the big profit and where the risk is , it would make you more money and the person might also lose a lot of money in that order ,that's something about the futures trading

 

[Skysaint]

I am also looking forward to master futures trading , I think futures trading is where the big profit and where the risk is , it would make you more money and the person might also lose a lot of money in that order ,that's something about the futures trading

You're right about that. I think trading futures us actually better than trading spot in the cryptocurrency market. Although the market is really down for those trading spot but then again, it's very lucrative for those that have mastered the futures trading strategies.

 

[magnus2022]

It will be quite hard for the government to monitor these activities. Cryptocurrency is highly decentralized, therefore it will be difficult to monitor it. Again, use of peer to peer transaction will make it quite difficult to know who is staking and lending.

 

[Wisdom01]

You're right about that. I think trading futures us actually better than trading spot in the cryptocurrency market. Although the market is really down for those trading spot but then again, it's very lucrative for those that have mastered the futures trading strategies.

those that mastered the futures trading are probably the ones to earn more from it , because it's really risky , as an investor ,some one can easily make loss from it , that's why I don't like investing in futures trading , because it's of high risk , except you know how to manage risk properly

 

[Skysaint]

those that mastered the futures trading are probably the ones to earn more from it , because it's really risky , as an investor ,some one can easily make loss from it , that's why I don't like investing in futures trading , because it's of high risk , except you know how to manage risk properly

Yeah, the person I asked about the futures market actually told me the same thing; the market being very risky and all that. But if it's something that's lucrative then it's worth giving it a shot or even learning about it.