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 Bitcoin Thread v1, and other cryptocurrencies

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jack2
post Feb 22 2017, 09:08 AM

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QUOTE(kmarc @ Feb 22 2017, 08:23 AM)
RM 5021..... who is still buying? sad.gif
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Happy happy...

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



jack2
post Feb 22 2017, 10:16 PM

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QUOTE(kmarc @ Feb 22 2017, 07:41 PM)
thumbup.gif

Say, why are you all using USD? You're buying with MYR right?
Most reassuring to the ears!!!! Exciting times indeed!  thumbup.gif

See see, just when I want to add some BTC, it shoots up from RM 4900 to RM4988 in a couple of hours!  bangwall.gif
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No. I use USD to buy.
jack2
post Feb 27 2017, 11:53 AM

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QUOTE(kmarc @ Feb 27 2017, 10:37 AM)
Didn't managed to get some Bitcoins last weekend when it was low. sad.gif looks like on the uptrend again.....

Was doing some research on ant miners.... so difficult to get these "critters" biggrin.gif in Malaysia. Anybody doing mining?
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wow

1193
jack2
post Feb 28 2017, 10:31 AM

Mr
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Wanna sell part of my BTC.. anyone wants? :hehe
jack2
post Mar 2 2017, 01:05 PM

Mr
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QUOTE(wengherng @ Mar 2 2017, 10:06 AM)
Sold off some BTC yesterday late afternoon.
Set an automatic limit in the exchange, and left office to go for dinner.
Sale was confirmed right before the sudden run up around 9pm.
Absolutely kicking myself right now.
ranting.gif  vmad.gif  cry.gif  vmad.gif  ranting.gif
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Where did you sell it?

I wanna sell mine too notworthy.gif
jack2
post Mar 2 2017, 07:37 PM

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QUOTE(jack2 @ Mar 2 2017, 01:05 PM)
Where did you sell it?

I wanna sell mine too  notworthy.gif
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hah... which website is good to sell ya?
jack2
post Mar 3 2017, 12:03 AM

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QUOTE(wengherng @ Mar 2 2017, 11:33 PM)
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.
Need any verification with ID documents?
jack2
post Mar 3 2017, 01:20 AM

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QUOTE(wengherng @ Mar 3 2017, 12:37 AM)
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.
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Ya..I am redundant to give too.

Then buyer will contact u via phone to buy or through web communication only?
jack2
post Mar 3 2017, 11:04 AM

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QUOTE(wengherng @ Mar 3 2017, 10:47 AM)
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.
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Dangerous or not to transfer the bitcoin?

And if my bitcoin is not held with their exchange, I can transfer to them too?
jack2
post Mar 3 2017, 11:38 AM

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QUOTE(wengherng @ Mar 3 2017, 11:14 AM)
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.  biggrin.gif
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.
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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... sweat.gif sweat.gif
jack2
post Mar 3 2017, 03:18 PM

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QUOTE(wengherng @ Mar 3 2017, 11:49 AM)
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.
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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?
jack2
post Mar 3 2017, 05:04 PM

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QUOTE(wengherng @ Mar 3 2017, 04:22 PM)
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!)
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Wow, so complex.

Many thanks for your guidance.
jack2
post Mar 3 2017, 05:52 PM

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I just managed to sell 0.10 BTC at RM560.44 net off.. Ads was just placed and immediately "eaten" by buyer.... lol
jack2
post Mar 3 2017, 06:18 PM

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QUOTE(wengherng @ Mar 3 2017, 06:12 PM)
Congratulations! biggrin.gif
More to come.
Let's hope the ETF gets approved next week.
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I better don't tamak and got earn and lari first...
jack2
post Mar 5 2017, 12:41 PM

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QUOTE(Napoleon Hill @ Mar 5 2017, 12:30 PM)
Where did you sell it? And how much the fee? I'm still looking for a platform to sell my 0.0999 bitcoin 😂
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xbitasia

jack2
post Mar 6 2017, 11:38 AM

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QUOTE(barry @ Mar 6 2017, 11:36 AM)
I am very keen to set aside some of my savings into Bitcoins having little faith in first currencies. I have put some money in gold but I realize that Bitcoins and silver are not to be overlooked.

I would really love it if someone can help me towards buying my first btc. Please pm me and I will be most appreciative. My phone contact is 0122040983.
Regards
Barry
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You want buy or sell?
jack2
post Mar 7 2017, 12:18 PM

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So happy.. my BTC sell quote at MYR5730 was success!
jack2
post Mar 8 2017, 09:57 AM

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XbitAsia's fee is quite cheap too

I managed to get my 0.3 BTC sold at RM5730. And I got only RM1,714.60

(RM1714.60 + 0.11)/ 0.3 = RM5715.70

5715.70 / 5730 = 99.75%

It means 0.25% is the transaction fee deducted from 0.3 BTC sold....
jack2
post Mar 8 2017, 10:35 AM

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QUOTE(wengherng @ Mar 8 2017, 10:33 AM)
Currently XBit Asia's fee is 0.25% for Maker, and 1% for Taker.
But starting from 11am on 10th March 2017 (this Friday), for will be no more Maker/Taker fees.
They will be switching to Buyer/Seller fees.
Buyer fee will be 0.5%, and Seller fee will be 0.8% per trade.
Also, note that there is a network fee of 0.0003 BTC per transfer, if you are transferring your BTC from your XBit Asia account to your hardware wallet, etc. This fee is for the miners.
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aiyo... expensive than before.

I bought one workstation for my work purpose. Dunno can mine a bit to earn some?

hehehehe

This post has been edited by jack2: Mar 8 2017, 10:36 AM
jack2
post Mar 8 2017, 10:56 AM

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QUOTE(kmarc @ Mar 8 2017, 10:54 AM)
Haha, you always promote your telegram group. Will take a look tonight. smile.gif
0.5%/0.8% a bit expensive leh. I don't really look at fees but as far as I know, I'm not charged anything for buying BTC at remitano or localbitcoins.
From my reading, normal computers are not worth it. I found that many use antminers or hardware specifically designed for mining but it's so difficult to get those in Malaysia.
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I didn't really know about Bitcoin etc..as I know not in this field.

Since I got new workstation, just thought to utilise it since got 3 years warranty on processor etc mah...

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