Let's just pray it doesn't crash. Security of bitcoin is still my main concern though because as mentioned, I have decided to go all in and am prepared to lose the investment. Yeah, like you, I'm also not "investing" fast enough!!! Don't even need to think about DCA as the price keeps on going up.

Bitcoin at RM 4959. I hate you!!!!!

This post has been edited by kmarc: Feb 22 2017, 06:50 AM

RM 5021..... who is still buying?

Happy happy...

Last week I bought 1BTC at 980usd...

We're now in a different era compared to 2013. With so many international companies and financial institutions adopting blockchain technology and investing so much into it, I honestly do not think bitcoin will crash.
Correction, maybe......but not crash.
Several countries like Japan and UAE have already started to accept bitcoin as a legitimate currency.
This will mean more regulation controls over its usage, but will massively increase its adoption to the general population, which I see as a good thing.
Exciting times ahead.


Good for you.
I added some too, at around USD 1040.

Say, why are you all using USD? You're buying with MYR right?

Most reassuring to the ears!!!! Exciting times indeed!

See see, just when I want to add some BTC, it shoots up from RM 4900 to RM4988 in a couple of hours!

No. I use USD to buy.

Interesting. Which exchange are you using? Earning USD?

You can use whatever currency you like to benchmark your profits and losses.
I personally use USD just for easy benchmarking, because I buy not only using MYR but also other currencies.

I see. Anyway, bitcoin on upward trend again. Hope it drops a bit........

The next two and a half weeks is going to be very interesting indeed.
11th March is the final deadline for the American Securities and Exchange Commission (SEC) to decide on their approval or disapproval of the first bitcoin ETF, and I predict that until that day, we'll still be seeing quite a bit of volatility yet.
If they approve, then it means that they are legally and officially opening the gate to hundreds of millions of US dollars to be flowing into the bitcoin market capitalisation, in which case the price will soar.
If they say nothing (i.e. do not approve or disapprove), then after the deadline, it is considered as an automatic approval, in which case the price will soar.
If they explicitly disapprove (which, unfortunately, is currently the general expectation), then there will probably be a dip, in which case, we can take advantage to buy at the dip and average down our investment cost.
Previously, the SEC Chairman was Mary Jo White, who is sort of a conservative and will probably push to disapprove it.
However, as she had stepped down as Chairman at the end of the Obama administration, and we don't yet know when the replacement is going to be sworn in, there is now a real possibility that the deadline will pass without an official ruling, meaning the application might just be automatically approved.
Exciting.

not sure why you want it to drop?

What a second. I thought it was March 31st? If it is truly March 11th, then I'm really a late comer and running out of time!!!

Is it true what some say, the even if SEC reject the ETF, future ETF application will be made and as such, the potential for bitcoin to rise is still there?

Drop a bit so that can accumulate more

To my knowledge, there are at least 3 different applications to the SEC for a bitcoin ETF, which the SEC has been stalling for a few years now.
The Winklevoss twins' one is probably the most high profile at the moment, and the final deadline for this application is 11th March.
I'm not too sure about the other two.
SEC approvals are done on a per-application basis, so even if the current 3 ETF applications are rejected, future applications can still be made, but they will have to go through the same vetting and approval process, which could take years.
Personally, I think that at some point, with so much global attention and financial investments being directed to developing the blockchain technology and bitcoin in general, I believe that an approval for a bitcoin ETF will be inevitable, the only question is "when".

My suggestion is: don't be greedy and buy bitcoins with money that you cannot afford to lose, or with money that you will need in the near future. As I said, if the applications are rejected, there could be a price dip, and it might take months before it recovers back to its original level.
On the other hand, if you're in it for the long run, and you believe in the technology and how it could revolutionalise the financial world, then I think now is a good time to invest, as technically speaking, cryptocurrency is still in its infancy stages.

I see. I was actually targeting 31st March.

Meaning bitcoin is here to stay and not going away anytime soon.

Yeah, cannot be greedy. If bitcoin keeps on increasing before the EFT ruling dateline, I might offload a certain percentage to recoup the original amount. Definitely in for the long-term barring any unforseen events.

Still wondering how each country will handle bitcoin transaction in terms of money laundering and ill-gotten gains...... As previously noted, bitcoin prices dropped recently due to China's clampdown on bitcoin exchanges. However, looks like it is only temporary......

Some recent news on the ETFs:
http://www.forbes.com/sites/laurashin/2017...f/#61cc9a193d84
https://www.wsj.com/articles/irrational-exu...etfs-1486350601

This post has been edited by kmarc: Feb 23 2017, 04:05 PM

The bitcoin prices affected by China's uncertain policies against bitcoin are purely reflective of the general public's interest in it.
It just means that there are so many people interested in it and putting money in it, that when the government announces certain hints of potential changes in regulations, the public panics and scramble to sell it off.
But as you can see, the China government's influence over the price seems to be waning now, and although there are still sudden price dips when announcements are made, the volatility is nowhere near 2 - 3 years ago. In fact, in just one month, the price of bitcoin has recovered back to the level before the PBoC public announcement in January.
Money laundering is always a problem, but it is no different with any currency vehicle......especially cash.

As usual, valuable info!

From the time I entered bitcoin about a week ago until now, BTC already increased by about 10%! Actually, anything below RM5000/BTC I was prepared to accumulate. Now that it is above that, I'm slightly hesitant. Will see the trend. You still accumulating?

Edit : Bitcoin at RM 5140..... Wait I go cry first... will come back later....

This post has been edited by kmarc: Feb 23 2017, 08:42 PM

Even I am surprised by the sudden rally today.
I tend to think this is just euphoria, a kind of adrenaline rush by the general population as the price inches towards the All Time High (ATH).
My prediction is that we will break the ATH of USD 1165 soon, and when it does, there will be a lot of opportunists who will say "This is it! We've broken through the barrier! We've achieved what we wanted to do!" and then promptly proceed to sell off to lock in their profits, during which we will see a mild price correction.
But, this is just my personal prediction.
The price could just as well suddenly go haywire and hit the moon.

BTC moons at MYR 5250 today. awesome day for bag holders. HODL.

Are you all at bct? https://bitcointalk.org/index.php?topic=85430.600

#%@F%JGA@%#WS%FF@%&*@$

No, that's not my cursing. It's my bitcoin address, can send some bitcoins please?

RM5281!!!!! Resistance (was there ANY resistance???) of USD 1165 easily punched thru. Most of the time in stocks, when resistance is broken, historically the value would hit a new high. Until another event causes it to dip/drop/crash. The only question is when. And the other question is whether to chase or sit back. It's getting a little scary for me and I'm not even halfway there yet!

My previous opinion was that the price now should have been much higher. Just because of China's clamp-down that it is at current levels. Here, my new excellent statistically analyzed one-arrow one-minute MSPAINT chart....... It's off the charts but if I take my ruler to measure, I think it will be at the RM6500-RM7000 level....



Even though it is sky high at the moment, I think (MY opinion only) it will still go up, at least until near the time the first ETF decision is made. That gives another 1 - 2 weeks for it to rise. From then on, the trend would depend on the outcome.

Note : My 0.0000000002 BTC opinion only......

Hmmmmm..... was just thinking, if BTC keeps on going up and maintain at high value, there would be a threshold where mining would be viable again. Anybody knows what that threshold might be?

Wow! Didn't realize bitcoin is so extensively discussed.

I just checked out some of the links of bitcoin mining farms and those on youtube. The first thing I thought was CRAZY!!! However, in this day and age, technology seems to be the one that make quick millionaires and multimillionaires. 8-5 traditional jobs just doesn't cut it anymore.

I really new to this and I just can't comprehend why you need to mine bitcoins to make it into "currency" which is used for transactions. Just.... can't.... brain... this.... Why not just create a new digital currency for the whole world to use? Yeah, some equate it to like gold mining but instead of shovel, you use computers. My first thought, man-made craziness.....

This post has been edited by kmarc: Feb 24 2017, 08:58 AM