Actually I not only use bitcoin for long term investment, but also as it was actually meant to be used, i.e. as a mode of currency transfer. I needed to transfer money from offshore account back to Malaysia, so I bought BTC using the offshore account, and transferred it to my Malaysian exchange, then sold it off to get MYR.
Pretty convenient, sold it yesterday night, got my money in my Maybank account this afternoon.
I get a much better exchange rate if I were to compare with normal TT.


Nobody can accurately predict the future, but the bet is on BTC hitting new highs in the foreseeable future.
Several countries are looking to "sort of" regulate bitcoin, to an extent, but so far none have been successful, as bitcoin, due to its inherent decentralised nature, is regulation-resistant.
I see long term growth in cryptocurrencies......not only in bitcoin, but also ether. Not too sure about the others.


I sold on XBit Asia after comparing with Luno. Surprisingly I got a better price at XBit Asia, so I just went ahead.
The liquidity is too low on XBit Asia, though.


There are currently two schools of thought on this topic.
One says that the price will crash if the ETF is rejected. However, the other school says that the public sentiment has already factored the rejection into the current price, because the public already expected that it will be rejected anyway.
Personally, I think there is a real chance that it will be approved, and if it is, then the price will soar.
But if the ETF is rejected, I expect to see a correction, but not significant enough to be a crash. I'd be mildly surprised if it went below USD 1000.

Yes, poloniex is convenient if you're not looking to withdraw your altcoins. You're just holding those altcoin on poloniex's balance sheet, you have the right to the altcoins but ultimately they are holding it on your behalf. Counterparty risk there.

However, if you're looking to buy altcoins and hold it in your own wallet, ShapeShift would be your best bet!

Good luck on trading. Remember, don't get emotionally tied to the volatility, don't buy peak and sell at dip!
buy the dip and sell the peak

Good for you!
Personally, I "predict" that we should soon be seeing at least 0.016 in the near future, as the general public slowly takes in and digests the news of the Enterprise Ethereum Alliance. Slow and steady is the way I want it to go.
Crazy spikes in DASH and Augur, not sure what triggered the bull, but they are rising too fast, fanned by public euphoria. Everything points to signs of a bubble that is going to burst soon.

Well said.
You are your own bank. You control your money. And with great power comes great responsibility.

Personally, I've not used Poloniex yet, but please beware of the maker/taker fees and the withdrawal fees, if any.
Those can easily eat into your profits.



This post has been edited by wengherng: Mar 2 2017, 11:46 PM

Need any verification with ID documents?

Yes, unfortunately, all the usual verification documentation is required.
I've done it with both XBit Asia and Luno, just to give myself more options.
Not very happy with having to disclose such personal information, but no choice.
I don't really trust Localbitcoins.

Ya..I am redundant to give too.

Then buyer will contact u via phone to buy or through web communication only?

plenty of ethereum FUD in the telegram groups.

Does anybody here join a bitcoin telegram group that shares news, sells bitcoin and stuff? i would like to take part

sharing is caring

Technically speaking, although both are cryptocurrencies, ETH does not compete or contend with BTC as they were developed to serve different purposes entirely.
Purely in terms of price, though, nobody will be able to predict how either one will be priced in future. One thing is for sure, both are here to stay.
But with BTC having a market capitalisation of 20 times more than ETH, if ETH wants to overtake BTC, there is still quite some ground for it to cover.


Nope, both XBit Asia and Luno are online exchanges......you only deal with the exchange, you never meet the buyer.
You just log in, transfer your bitcoins to the exchange account, set up your sell limit, and that's it.
Once someone agrees to your price and buys your bitcoins, then the exchange will execute your sell order automatically and fund your account with MYR, which you can then withdraw to your local bank account.
It's very convenient. Just like your normal stock exchange.

Dangerous or not to transfer the bitcoin?

And if my bitcoin is not held with their exchange, I can transfer to them too?

Well, I wouldn't call it "dangerous" but I definitely wouldn't use an exchange to store my bitcoins, that's for sure.
I hold my stash in cold storage, and only transfer the amount I need to the exchange.
Meaning, my account on the exchange is usually 0.000000 BTC.
When I need to sell 1 BTC, I only transfer 1 BTC to the exchange, and execute a sell order for 1 BTC.
When somebody buys my 1 BTC, the exchange notifies me by email, and I log in to the account, and see the MYR in my exchange account, and then I just execute a withdrawal order, and the next day I see the MYR in my bank account.
The above scenario does not take into consideration the fees that are applicable, as different exchanges have different fee structures.
But in order to sell on any exchange, your BTC must be in the exchange account.


This post has been edited by wengherng: Mar 3 2017, 11:15 AM

Thanks for the insight. I know that to overtake BTC is outrageous, but would it be able to setlle for 100 USD price point at the end of the year?

Hang on......let me go get my crystal ball......aaaaaannnddd......my crystal ball says it doesn't know either......
If I could predict the future like that, I wouldn't be sitting in front of my computer typing on forums......I'd be sucking rum out of coconuts on some exotic beach in the Bahamas instead.
Having said that, I do not think it is outrageous for ETH to overtake BTC at some point in future, just that it would take some effort and time.
Having ETH hit USD 100 by the end of the year is not really that hard, though.
We're only in March, and ETH is already nearing USD 16.
As cryptocurrencies become more mature and mainstream, there will be much more capital inflow to the industry, and demand will always drive up the prices in the long term.

I see.

Which one is the cheapest exchange?

And how do you transfer from your cold storage to your exchange account?

Better if there are buyers from lowyat, buy direct from me with RM100 per transaction... I don't mind to sell it batch by batch rather than to pass my KYC documents to them...

Well, there are several exchanges available in Malaysia, and I only use XBit Asia and Luno, so I really can't say which one is the cheapest.
From personal experience only, so far, XBit Asia gives me slightly better returns.
If you are going to sell in many batches of very small amounts each, personally, I think one thing you have to consider is the transaction fees. Transaction fees generally do not vary too much whether the transaction amount is large or small, so making many small transactions will actually eat into your profits rather significantly.
But of course, if privacy is your main concern, then this might be acceptable for you.

It's 20 actually. As we speak.

Ah damn, you're right, sorry about that.
I am still thinking in BTC terms.
ETH is now trading at 0.016 to the BTC, which is roughly USD 20.
You're right, my bad.

Between raiden, ENS auction, and zk-snarks.

At least $50~60 before the end of 2017, this does not factor in the flippening. Also doesn't factor numerous dapps/ICOs going live and EEA contributions yet

Casper will be the one to challenge Bitcoin dominance for sure, just look at how Dash go.

Edit: Anyone knows why the Koreans are scooping up all that Ether? That's some amazing volume and price

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This post has been edited by WooTz: Mar 3 2017, 01:31 PM

Thanks.

The transfer of BTC from one exchange to another exchange is real time? I still see the transaction is shown in XbitAsia but balance is still zero. The status in sender's exchange is still pending.

Need wait minutes?

Just as with any bitcoin transactions, it will only show in the blockchain ledger when a miner successfully completes mining a block and adds it into the ledger.
Depending on how much transaction fees you paid (usually determined by the exchange that you sent from), it could take anywhere from 1 minute to 1 hour.
The higher the transaction fee, the higher the priority and the faster your transaction will be confirmed.
Personally, the fastest confirmation I ever got was less than 2 minutes, and the longest I had to wait was something like 40 minutes.
Some exchanges even specify that they will only update your account when more than 2 or 3 confirmations are available in the blockchain.
Don't worry, your transaction is safe, just congested in the queue (assuming your sent to the right address!)