Yes. And there are a lot more of other things you can do with virtual coin.

Most people see value in the "mechanic" of virtual currency. What they don't agree on is the price. Hence you see the large price fluctuation from 0.03 USD per coin three years ago to over 1200 USD a month ago.


Infrastructure to support bitcoin wasn't available back then. And there is only one main exchange (80%+ volume) six to seven months ago.

It is no longer the case, the only thing stopping virtual coin from becoming norm is government regulation and the whim and will of politician.

How you keep your coin safe is your own responsibility. It is no difference than how you keep your ringgit and gold/silver safe.

If you imply the scamming part of transaction is not safe, it is also no difference than then fiat currency when you overpay for junk or non-delivery. Buying and selling is also personal responsibility (ie, do your homework before sending someone your money).


You can no long use GPU to mine bitcoin (electricity cost is higher than what you get back in coin). If you do basic research, you will know people are ordering ASIC miner from less than 5 suppliers in the world right now. And those who pre-order not necessary make any profit because of delay.


Alt coin mining on the other hand, still gives a huge return of investment. To jump in a moving train before it is too late, you of course will need to do your own homework.


With that being say, I am currently offering two services:
1) I am selling litecoin/alt coin miner.
2) I am offering 10% return per year for people who want to invest but do not want to do the day to day operation of running a business.


Send pm if anyone is interested.

https://localbitcoins.com/places/2340840/ku...umpur-malaysia/

You can use localbitcoin.

I also buy bitcoin if you are selling. My fee is 8%.

Let me know if you are interested.

You really need to do own research. There are a lot of alt coin out there. Bitcoin and litecoin are the main two coins because they are the earliest.


How you can earn bitcoin is no different than how you can earn a salary. Run a business or offer a service and accept bitcoin as payment. or if want to risk a great deal of money, you can pre-order ASIC miner from either butterfly lab, KNC, or Avalon.

I wouldn't recommend Mtgox

Expect many months delay to see your money if you sell your coin there.

There are also risk of confiscation from US government and shut down for Mtgox. Japan(where MTgox is based), after all, is a puppet of US.


EDIT: Forgot to add, my 8% fee is based on bitstamp price.

This post has been edited by arbitrage001: Jan 14 2014, 05:52 PM

The price indicator alone on Mtgox should tell you there is a problem on fiat currency withdrawal.

If there is no issue, anyone that can withdraw FIAT would be doing arbitrage and the 100 usd price difference will disappear.

I had USD stucked in Mtgox for over 3 months from June to September, until I finally bite the bullet and buy bitcoin there and sell elsewhere to withdraw.

This post has been edited by arbitrage001: Jan 14 2014, 09:58 PM

Really depend on when and how you see things.

A month or two ago, the price on btcchina is more accurate. A small group of Chinese citizen were able to do arbitrage and capture all the price difference between exchanges around the world and btcchina. The profit is over 40% and they were using 2-4 million USD per cycle (you can do 2 arbitrage per week if you find a way to change RMB to USD). It is a matter of time before the price around the world caught up with China.


BTC-e do not have as much trust to me compare to bitstamp. So I will use bitstamp price as an indicator for btc value.

This post has been edited by arbitrage001: Jan 14 2014, 10:20 PM

Two months ago on bitstamp BTC withdraw. Normally less than 15 mins on sending out btc, then the confirmation take it normal times.

The only time I have issue on bitstamp btc withdrawal is when someone used up their hot wallet. This is when people still doing arbitrage between bitstamp and btcchina.


www.bitfinex.com is what I used now.

This post has been edited by arbitrage001: Jan 14 2014, 10:29 PM

Like their platform, especially the lending part.


I have deposited a large sum of USD there without problem (except my bank calling me) and withdraw over a large sum of btc without problem. This is over the course of 6 months after I become frustrated with Mtgox.


The company is registered in Hong Kong and their bank account is in Shanghai special economic zone. They only use USD, so China government should not bother them too much. They are trying to get license in Europe zone.

I did a conservative estimate on how much fee/commission they get per day. It come up to around 5k-10k USD per day on fee alone.

Hard to see anyone with this lucrative business model will steal their customer money and run away.

The owner is known also. So he will have no where to run if he steal his customers money.

Sell on localbitcoin.

Or sell on one of the exchange and wire back.

If you want USD, you will need a foreign currency account with one of the bank.

This post has been edited by arbitrage001: Jan 14 2014, 10:57 PM

Lots of scam. There is a group of people that do nothing but trying to scam new seller every day.


I am offering to buy/sell btc for 8% fee. The fee should be lower than wiring it back and deal with currency conversation rate if your amount is small.

This post has been edited by arbitrage001: Jan 14 2014, 11:04 PM

Bitstamp price.

Either meet up (outside Maybank or HSBC) or deal over email.

If trust is an issue for you, then meet up. If trust isn't an issue, then you send first.


https://localbitcoins.com/accounts/profile/arbitrage001/
https://bitcointalk.org/index.php?action=profile

http://mining.thegenesisblock.com/


Play with the simulator.

What power supply you use for R9 290 to get 870 kh/s?

Some miners claim to be able to hash at over 950 kh/s. Sound pretty impossible to me.

Good deal. I will actually buy the contract if the hash rate is above 800 k hash per sec.

This assume the server will have 24 hours up time with no over heat problem and I am able to either teamview in or remote control in.

Let me know if this deal is real or not.

This post has been edited by arbitrage001: Feb 10 2014, 10:47 PM

Thought it is quoted in Ringgit. Not a good deal if it is quoted in USD.

.

This post has been edited by arbitrage001: Feb 16 2014, 02:18 PM

https://localbitcoins.com/accounts/profile/arbitrage001/

Would anyone be interested in Gridseed miner (1 set, 10 units) for RM 10k?


http://www.cybtc.com/thread-4792-1-1.html


Send pm. Let me know soon as I will be ordering tomorrow.

https://localbitcoins.com/ad/78717/purchase...g-bank-malaysia

http://mycointalk.com/viewforum.php?f=7&si...4b26fcffd1ed907