those are just excuses.. until end of december xmas time, got 2 lowyat sellers got 2-3pcs stock and even one lelong seller based on KL.. how i know cos I bought two 280x Asus DCU II . heck last week got tens of 280x powercolor came in KL..

as for this part.. agree ... no one knows, after the GPU roi-ed, as long as got 10-15% annually after less electricity also considered better than bank lor..

Supply is no longer an issue because alt coin mining no longer provide high monthly yield. If litecoin price is 80-100 usd right now, believe me we will run into shortage again.

Now that more and more Malaysian are into mining, I suspect we won't be as lucky as last time.

Use gpu profit not good,due to the price gpu.
1 gpu cost around 1k,and each month can,earn rm500 the max.

but that price is not include other hardware like psu motherboard processor.

better get asic miner,find some friend then buy one unit...of course in Malaysia is not easy and not easy find.

u do know the 280x can be sold for 1-1.1k now even after using for 1month right? head on to garage sale.. most of the 280x already sold quickly. even 7950s.. no more used ones.

It doesn't make sense...

You mean to say all i have to do is to buy mining cards...keep my PC switch on..and wallah, the PC will mine bitcoins for me?

Its just like FB's farmhouse.

There is no economy, do demand and supply. I am not seeling any product or services to anybody. I am just earning my money by keeeping my mining card switch on. Doesn't add up.

Your question is the utility function of virtual coin such as bitcoin.

The main function is to facilitate the payment settlement between consumer and merchant. Or if you are a corrupt politician and want to move a large sum of money oversea, you can also use bitcoin to do money laundering to move out your money.

Black market also use bitcoin to settle trade. If you like to purchase drug, counterfeit passport, or hire someone to kill someone you hate, you need to use bitcoin to pay them.


Hope this answer your question.

So besides buying many mining card to mine for bitcoins.

I can also turn my illegally ill gotten gains and launder them into bitcoins, then withdraw them somewhere in monaco to buy some yacths? mercs? property? babes?

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.

Sure the hacker can hack all the way to get more bitcoins or steal more bitcoins from other people's bitcoin wallet.

I think bitcoin transactions are not secure.

And yeah when govts start regulating...the value would likely drop. You can't make money out of mid air.

Anyway whats the productivity of a mining card? which cost USD1200? How much bitcoin can it earn you an hour?

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.

Difference between alt/lite coin?

SO if cannot mine coins because impractical then any better way to earn bitcoins?

I would like to know, the best way to cash out into Malaysian banks

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.

Wire? I don't see a problem

Or you can sell to me. 5% fee.

This post has been edited by mumeichan: Jan 14 2014, 05:44 PM

Which exchange to recommend?

Mt. Gox

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

edited

This post has been edited by whyteaz: Jan 14 2014, 05:53 PM