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 Bitcoin Thread v1, and other cryptocurrencies

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sense_less143
post Dec 28 2016, 09:00 PM

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Anyone knows what happened to http://bitstore.com.my/?
wengherng
post Dec 28 2016, 11:25 PM

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QUOTE(sense_less143 @ Dec 28 2016, 09:00 PM)
Anyone knows what happened to http://bitstore.com.my/?
*
Interesting......it's down and no longer available, and even the main domain www.bitstore.com is up for leasing.
I guess the company is bust? hmm.gif
jack2
post Dec 29 2016, 08:47 AM

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QUOTE(sense_less143 @ Dec 28 2016, 09:00 PM)
Anyone knows what happened to http://bitstore.com.my/?
*
QUOTE(wengherng @ Dec 28 2016, 11:25 PM)
Interesting......it's down and no longer available, and even the main domain www.bitstore.com is up for leasing.
I guess the company is bust?  hmm.gif
*
How about investors' fund?
TheConqueror
post Dec 29 2016, 02:13 PM

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Just transferred my coins from CoinBox to Bread Wallet though the transfer take about 20hours.
cool2.gif
TheConqueror
post Dec 29 2016, 02:14 PM

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By the way, what is the best price to sell?
wengherng
post Dec 29 2016, 10:45 PM

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QUOTE(TheConqueror @ Dec 29 2016, 02:14 PM)
By the way, what is the best price to sell?
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It'll take plenty of shamans and crystal balls to come up with that answer...... biggrin.gif
Seriously, though, many financial experts and analysts (except the naysayers) are recommending to hold, instead of sell.
We haven't seen the end of this bull run yet, I dare say. hmm.gif
wengherng
post Dec 29 2016, 10:47 PM

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QUOTE(TheConqueror @ Dec 29 2016, 02:13 PM)
Just transferred my coins from CoinBox to Bread Wallet though the transfer take about 20hours.
cool2.gif
*
Is there any particular reason you chose Bread Wallet compared to other wallets like, say, Blockchain.info?

wengherng
post Dec 29 2016, 10:53 PM

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QUOTE(jack2 @ Dec 29 2016, 08:47 AM)
How about investors' fund?
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Who knows......
Perhaps, like BitX, they gave sufficient notice to all their investors to either withdraw or transfer out their bitcoins before the website closed down.
But, technically speaking, if they didn't alert anyone and just suddenly closed down one fine day, I suspect all the funds would then be lost to the investors, and into the company owner's pockets, because they are the ones holding the private keys for the investors.
Letting an exchange site have control over your private keys is something akin to giving your physical wallet and cash to some stranger on the street, and basically just hoping that he'll still be there the next day and not run off with your money.

jun6065168
post Dec 31 2016, 11:17 AM

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Helo I'm new to bitcoin. Where can I buy bitcoin mining hardware in Malaysia. Would like to try mining in small amount.
SUSMNet
post Dec 31 2016, 05:23 PM

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QUOTE(jun6065168 @ Dec 31 2016, 11:17 AM)
Helo I'm new to bitcoin. Where can I buy bitcoin mining hardware in Malaysia. Would like to try mining in small amount.
*
lowyat
wengherng
post Jan 1 2017, 01:47 AM

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QUOTE(jun6065168 @ Dec 31 2016, 11:17 AM)
Helo I'm new to bitcoin. Where can I buy bitcoin mining hardware in Malaysia. Would like to try mining in small amount.
*
With so many large scale miners worldwide, especially in China and northern Europe, I'm not sure individual mining is really a profitable endeavor anymore these days.
jun6065168
post Jan 1 2017, 10:14 AM

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QUOTE(wengherng @ Jan 1 2017, 01:47 AM)
With so many large scale miners worldwide, especially in China and northern Europe, I'm not sure individual mining is really a profitable endeavor anymore these days.
*
So most ppl does trading only?
wengherng
post Jan 1 2017, 03:23 PM

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QUOTE(jun6065168 @ Jan 1 2017, 10:14 AM)
So most ppl does trading only?
*
Well, initially mining was good business, but the beauty of the bitcoin technology is that it is self-regulating, so as more and more miners jumped on the bandwagon, with increasingly better, faster and more sophisticated hardware, causing the collective computing power of the blockchain to increase tremendously, the algorithm has adjusted itself to be exponentially more complex to solve, meaning you'd need really serious hardware.
Now, if you want to compete with these high tech miners, you'd need very expensive hardware (think tens of thousands of RM) running 24/7 just to have a serious chance to compete, and most likely, the returns you get is not even worth all the electricity bills you'd be paying throughout the year.
Now the competition is even more intense after the halving that happened this year.
It's not impossible, but think very carefully before you decide to go down this path.

Otherwise, the "easier" path to take is the trading or investing path, i.e. buy and sell.


jun6065168
post Jan 1 2017, 03:27 PM

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QUOTE(wengherng @ Jan 1 2017, 03:23 PM)
Well, initially mining was good business, but the beauty of the bitcoin technology is that it is self-regulating, so as more and more miners jumped on the bandwagon, with increasingly better, faster and more sophisticated hardware, causing the collective computing power of the blockchain to increase tremendously, the algorithm has adjusted itself to be exponentially more complex to solve, meaning you'd need really serious hardware.
Now, if you want to compete with these high tech miners, you'd need very expensive hardware (think tens of thousands of RM) running 24/7 just to have a serious chance to compete, and most likely, the returns you get is not even worth all the electricity bills you'd be paying throughout the year.
Now the competition is even more intense after the halving that happened this year.
It's not impossible, but think very carefully before you decide to go down this path.

Otherwise, the "easier" path to take is the trading or investing path, i.e. buy and sell.
*
Ah alright thanks for the info. Will take into consideration.
effectz
post Jan 1 2017, 11:14 PM

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Google for most reliable and secure mining service provider don't trust mlm style
SUSMNet
post Jan 2 2017, 08:26 AM

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QUOTE(jun6065168 @ Jan 1 2017, 10:14 AM)
So most ppl does trading only?
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I buy for investment
soket
post Jan 2 2017, 10:49 AM

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QUOTE(MNet @ Jan 2 2017, 08:26 AM)
I buy for investment
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i mine for fun laugh.gif
TheConqueror
post Jan 3 2017, 09:48 AM

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QUOTE(wengherng @ Dec 29 2016, 10:47 PM)
Is there any particular reason you chose Bread Wallet compared to other wallets like, say, Blockchain.info?
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No any particular reason. It just that lot of people using it.
wengherng
post Jan 3 2017, 11:19 PM

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QUOTE(soket @ Jan 2 2017, 10:49 AM)
i mine for fun  laugh.gif
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To be honest, I don't personally anyone who is doing mining, so please do let us know your experience after you have tried mining.
I'm quite interested to know actually.
Dead_Arrow
post Jan 4 2017, 09:29 AM

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i mine for fun too. using minergate miner.

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