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 Bitcoin Thread v1, and other cryptocurrencies

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TScloudstrife07
post Dec 2 2013, 02:07 PM, updated 12y ago

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Welcome miners/traders/entrepreneurs/newbies to /k official Bitcoin thread.


user posted image





===1 BITCOIN CURRENT PRICE ===
The last live image was using Mtgox data, it cant be used any more so I attempt to use others but incompatible with lowyat forum due to 'dynamic image'. sigh.

try to look these websites for the price:
XE.com BTC to MYR
Preev BTC to MYR
Coindesk Price Index
...and all BTC exchanges.





[b]What is Bitcoin?




[size=9]Statement on Bitcoin (by Bank Negara Malaysia) ( Last Updated Date : 03 January 2014 )

The Bitcoin is not recognised as legal tender in Malaysia.The Central Bank does not regulate the operations of Bitcoin.The public is therefore advised to be cautious of the risks associated with the usage of such digital currency. ( source: http://www.bnm.gov.my/index.php?ch=en_anno...ment_all&ac=275 )


Useful reading sites:
  1. http://bitcoin.org/en/ (Official Bitcoin website)
  2. https://bitcointalk.org/ (Bitcoin forum)
  3. http://en.wikipedia.org/wiki/Bitcoin (Official Bitcoin wikipedia)
  4. https://en.bitcoin.it/wiki/Main_Page (Bitcoin wiki)
  5. http://www.reddit.com/r/Bitcoin/ (Reddit's Bitcoin)
  6. http://bitcoinmagazine.com/ (Bitcoin news website)
  7. http://www.coindesk.com/ (another Bitcoin news website)
List of Bitcoin exchanges / trading websites:
  1. https://www.mtgox.com/ RIP MtGox
  2. https://btc-e.com/
  3. https://www.cryptsy.com/
  4. https://www.bitstamp.net/
  5. https://vircurex.com/
  6. https://www.virwox.com/
  7. https://vip.btcchina.com/
  8. https://www.okcoin.com/
  9. https://www.fxbtc.com/
  10. https://www.kraken.com
List of Bitcoin calculators :
  1. http://btcinvest.net/en/bitcoin-mining-profit-calculator.php
  2. http://tpbitcalc.appspot.com/
  3. http://www.alloscomp.com/bitcoin/calculator
List of Bitcoin live ticker/graphs/charts :
  1. http://bitcoin.clarkmoody.com/
  2. http://bitcoincharts.com/charts/mtgoxUSD#r...Szm1g10zm2g25zv
  3. http://bitcoinwisdom.com/
  4. http://bitcoinity.org/markets
  5. https://blockchain.info/charts
List of other useful Bitcoin websites:
  1. https://btc.sx/ (Bitcoin arbitrage)
  2. https://blockchain.info/charts/difficulty (Bitcoin difficulty)
  3. https://www.spendbitcoins.com/places/ (List of place to spend bitcoins)
  4. http://coinmap.org/ (List of place to spend bitcoins, nice map)
  5. https://localbitcoins.com/ (buy Bitcoin locally)
List of Malaysia group / entrepreneurs that advocates / accepts Bitcoin :
  1. http://www.btc-asia.com/ (Bitcoin escrow service)
  2. http://nook.my (Nook Bangsar, an anti-office / virtual office provider)
  3. http://bitcoinmalaysia.com/ (Bitcoin Malaysia advocate, headed by Colbert Low or sirxl )
  4. http://bce.asia/ (Block-Chain Embassy Asia, non-profit advocator of Bitcoin )
u can also talk about other cryptocurrencies here like litecoins, ppcoin etc.

Latest News:

[24/3/2014] We have our own Bitcoin AVM! (Automated Vending Machine)

user posted image

"The first vending machines for the increasingly popular cryptocurrency, Bitcoin, has appeared in Malaysia. Singapore-based Numoni Pte Ltd has installed two Auto Vending Machines (AVM) in Bangsar Shopping Centre in Kuala Lumpur and Gurney Plaza in Penang last weekend."

click to read more: http://www.lowyat.net/2014/03/first-bitcoi...ar-in-malaysia/

This post has been edited by cloudstrife07: Mar 26 2014, 02:28 AM
TScloudstrife07
post Dec 2 2013, 02:08 PM

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balanar_27ar188wen9x88syahpiansirxlkiddoseller

come here liao we tok kok.

This post has been edited by cloudstrife07: Dec 2 2013, 02:08 PM
TScloudstrife07
post Dec 2 2013, 02:10 PM

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QUOTE(metalslug @ Dec 2 2013, 02:09 PM)
anyone here is mining bitcoin?
*
was mining around April. now no more liao difficulty so damn high.
TScloudstrife07
post Dec 2 2013, 02:13 PM

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QUOTE(red streak @ Dec 2 2013, 02:11 PM)
Sup fellow bitcoin millionaires.
*
sup brows.gif

QUOTE(UpCar @ Dec 2 2013, 02:11 PM)
so now mine what ? share share abit, i also wan mine sumthing with my old comp.
*
try mining alt-coins. i heard tagcoin gonna increase in value brows.gif
TScloudstrife07
post Dec 2 2013, 02:15 PM

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QUOTE(kennyy90 @ Dec 2 2013, 02:12 PM)
what about lite coin sad.gif
*
can talk here too liao. i cant make separate thread since it's not a crypto forum. later hard for noobs.

QUOTE(Tyler__Durden @ Dec 2 2013, 02:12 PM)
What's the most reliable trading sites, as well as how do they accept transaction from real currency to bitcoin?
*
some of the people in kakaotalk/whatsapp group uses btc-e to trade. im not that sure how to transact from real currency to bitcoin. maybe talexeh can help.
TScloudstrife07
post Dec 2 2013, 02:17 PM

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anyway, does anyone have a difficulty image that represents live graph? meaning that the image is automatically updated.
TScloudstrife07
post Dec 2 2013, 02:19 PM

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QUOTE(pear1OOO @ Dec 2 2013, 02:18 PM)
Dun la so fast promote. Let me accumulate more first.
*
creating awareness vs. hoarding of coins. a never-ending thing lo. icon_idea.gif
TScloudstrife07
post Dec 2 2013, 02:21 PM

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QUOTE(kennyy90 @ Dec 2 2013, 02:20 PM)
i've did some research and experiment yesterday. btc-e works fine pretty fast transaction(LTC-> USD) but the only drawback is high minimum withdrawing limit which is 500usd and 7% processing fees charged for paypal. as far as i know paypal is the closest method we could get in malaysia.
*
yup that's the only problem with btc-e. quite reliable but high % fee. cry.gif
TScloudstrife07
post Dec 2 2013, 02:26 PM

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QUOTE(UpCar @ Dec 2 2013, 02:22 PM)
so what would u rekomen a newbie like me with a lenovo y500 dual 650m mine ?
*
wah so little coin u can generate even though you're using CUDAMiner. sweat.gif
TScloudstrife07
post Dec 2 2013, 02:37 PM

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QUOTE(aminpro @ Dec 2 2013, 02:29 PM)
Bitcoin need 4 crossfire R9 290x punya baru can start mining back.
*
if you're crossfiring it, you're doing it wrong.

QUOTE(limfreelance @ Dec 2 2013, 02:30 PM)
aduih...all business & game have it expired date.
ppl think duduk kat rumah can earn a big buck, no need to work.
always early birf get the worm, lately bird eat the shit.

semasa British coloni, british kenakan system wang to asian inorder to exchange the earth resource. Same trick again.

They said, can transfers money without track......nampak tak permainan dia.
Good luck lah.
*
thank you for your interest.

QUOTE(ar188 @ Dec 2 2013, 02:30 PM)
wei, i heard for our setup 7990 dem powerful..  biggrin.gif  but do hard to get and mahal..
*
7990 need high wattage psu. in the end efficiency vs cost not good compared to multiple 7950/7970/R9 280X. There are talks that R9 290 maybe the next king of efficiency but i have yet seen the exact proof of it.

QUOTE(matiko95 @ Dec 2 2013, 02:33 PM)
hi, im newbie...

how about bitminter? i use it couple of days...
is it gooding?
*
bitminter ok. but unless u have ASIC nowadays, it's really not worth it.
TScloudstrife07
post Dec 2 2013, 02:42 PM

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QUOTE(matiko95 @ Dec 2 2013, 02:40 PM)
asic, the specially design chip to mine bitcoin right?
so what about doing it in pooling? can consider good? or bad without asic
*
yup, specially designed chips / hardware to mine bitcoins.

even if you're pooling, the difficulty is too high to compete with those ASICs, most probably nowadays you'll only get 0.1 BTC per month.
TScloudstrife07
post Dec 2 2013, 02:51 PM

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QUOTE(limfreelance @ Dec 2 2013, 02:45 PM)
your ppl wanna use Bc to earn Bc then convert to get profit.

1) tranfer BC/ sold Bc/ sharing Bc /buy Bc cannot be track.
hence rasuah, cuci duit hitam can not be track, bagi alasan wa dapat dari mining.

2) Bit Coin/ Bit torrent, major use to sharing/ uploading / downloading information, easi access without third party (bank or security) sensor. hence easi to hack, steal data & information....& the price is priceless.

3) BC just a bait, even 1 BC worth 1k USD, but it is nothing for the creator, it just a small amount, The reason bhide maybe wanna tutup his rahsia for data collection & exchange.
Inb4 good imagination.
*
1. yes
2. nope
3. nope

Those stealing data, loses of bitcoins on exchange etc. is not due to the bitcoin system, but their own. it's just like people hacking bank websites etc. Also, FYI, the bitcoin code is public license hence everyone can view the code to provide transparency smile.gif
TScloudstrife07
post Dec 2 2013, 02:56 PM

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QUOTE(UpCar @ Dec 2 2013, 02:50 PM)
19.5Mhash/s ok boh ?
*
if running ok boh. but that one very little dunno when you will get your coin. for comparison, an AMD 7970 gpu can make 700Mh/s while an ASIC can usually do from 2Gh/s all the way to 550Gh/s.

QUOTE(alexng2208 @ Dec 2 2013, 02:51 PM)
use normal work pc can do mining?

any simple guide for idiots?
*
please read the wiki/guides. some googling could help.
TScloudstrife07
post Dec 2 2013, 03:12 PM

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QUOTE(ar188 @ Dec 2 2013, 03:02 PM)
bulk buy 290x for 40pcs?
*
290x no custom cooling, ppl been telling around 800+kh/s only. also electric use so sweat.gif

QUOTE(apit.malay @ Dec 2 2013, 03:05 PM)
I got asic usb to sell.hahhhahaha.sory cloud pronote here at ur topic
*
no problem. it's a bitcoin topic what ahaha.

QUOTE(ar188 @ Dec 2 2013, 03:08 PM)
this is so old.. 128? now like 1200 per btc.. so profits also x10 liao.
*
difficulty also increase duno how many fold. sweat.gif
TScloudstrife07
post Dec 2 2013, 03:18 PM

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QUOTE(maru&box @ Dec 2 2013, 03:15 PM)
Some things I don't like about bitcoin:

1."Unfair" distribution of coins. Early adopters who hoard coins become millionaires. Only people willing to invest in high end mining equipment can afford to mine coins without losing money on electricity. Group mining is a must now.

2. Difficult to transfer funds to purchase coins. Usually, there will be a 3rd party in there to take a transaction fee. China's BTC exchange has less fees but I don't trust them.

3. Bitcoin is deflationary. There can be no more than 21 million in existence but there can be less than 21 million due to "lost" coins.

4. Unstable value makes it more of a speculative virtual item rather than a legitimate currency. Maybe it will settle to some stable value in the future.
*
1. same like gold lo.
2. same. u buy gold also need 3rd party, cannot get gold easily from gold mine.
3. same like gold or other precious mineral. limited/finite resource.
4. yup, for now. since the market is still small capping at USD 12 billion. if the market reaches trillions i dont think anyone have the power to speculate it anymore.
TScloudstrife07
post Dec 2 2013, 03:31 PM

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QUOTE(limfreelance @ Dec 2 2013, 03:21 PM)
is not like a gold, but like a saham, kasi orang sengaja fry up the price.
once u fry, bubble occur.
*
yes people who has the money and money can always goreng the price. in anything also la. just like gold price now when all the bik mama in china suddenly sell all their gold and the price goes down currently.

saham not the same because it depends on the company's performance.

QUOTE(MasBoleh! @ Dec 2 2013, 03:22 PM)
LOL.. late a few years edi. What is the point of this thread?  laugh.gif
*
because i so tired see too much bitcoin thread in /k, tak organized langsung.

QUOTE(munak991 @ Dec 2 2013, 03:25 PM)
Anyone got info about bitcoin?

I know Folding at home is to unstrain protein strains

But what does bitcoin use for their processing power? and its a peer 2 peer some more, what does all the procession power been waste to? anyone know?
*
bitcoin uses electricity as its 'sacrifice' (i dunno the exact word for it), it's not created out of thin air. processing power (or mining) in Bitcoin is used to maintain its public transaction ledger and log known as the blockchain
TScloudstrife07
post Dec 2 2013, 03:35 PM

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QUOTE(limfreelance @ Dec 2 2013, 03:29 PM)
does bitcoin worth it current value: 1k USD?
Bcos of mining (takpaya kerja boleh dapat duit), ppl r feeding it up.
Just like a 2008 bubble. & of cos with the bubble, many innocent ppl suffer.

hence kebodohan is crime.
*
you're wrong in this:

QUOTE
Bcos of mining (takpaya kerja boleh dapat duit)


when mining, u use electricity as a sacrificial thing to the bitcoin you'll be getting. just like using cotton for US dollar bills, polimers for our malaysian ringgit.

unless you're getting free electricity (in which someone else is paying for it), you still have to do something to pay your bills right?
TScloudstrife07
post Dec 2 2013, 03:43 PM

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QUOTE(CaLz @ Dec 2 2013, 03:33 PM)
i knew someone IRL hoarding 2k btc when the price is really low. He's a millionaire now.

this is what i called pandai
*
i approved his kepandaian thumbup.gif

QUOTE(munak991 @ Dec 2 2013, 03:33 PM)
Means all the processing power is being generated for nothing!?

Why not every bit coin miner covert them into Folding@ home and reward them something like unlocking block (Bitcoin) instead of just waste the raw power.

Maybe sell the Processing power to image rendering company also good enough
*
not nothing at all la. blockchain is the thing where u can verify the coins come from where going to where etc.. since it's all about currency, we need something to maintain it right? else if blockchain dont have, i can scam u for example u want to buy bitcoins from me, bank in already the money and then i say i send already to your wallet but actually i dont. since there's no blockchain, there's no way u can verify that i really send or not.

there are talks of using blockchain as alternative to email address. well the tech is still at its infancy so i think there's more can be done. smile.gif

QUOTE(MasBoleh! @ Dec 2 2013, 03:35 PM)
Reason legit. Accepted. !  rclxms.gif  thumbup.gif
*
terima kasih notworthy.gif
TScloudstrife07
post Dec 2 2013, 03:44 PM

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QUOTE(limfreelance @ Dec 2 2013, 03:41 PM)
your computer work, not your brain work.
good luck lah....all expert talk like pro..bila bubble, suck the money from poor.
u r poor in history.

wat is business, no lose no gain.
everyone earn 1B, sthen wat is the point of billionaire??
*
well, if u have lets say MYR10000 and then put into FD or mutual fund, do you still need your brain work? or let the bank people do their work? wink.gif
TScloudstrife07
post Dec 2 2013, 03:53 PM

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QUOTE(daijoubu @ Dec 2 2013, 03:43 PM)
What are the 'complex equations' solved contribute to?
The value in electricity used, what is it converted to? Anything of value?

For example, folding@home, end product is computed simulations of cancer proteins (or the like), But I don't see what is all the processing power used in mining bit coins finally converted into.
*
it is contributed to maintaining the bitcoin ledger a.k.a blockchain. since bitcoin is a P2P concept and u need something to maintain each and every transactions of bitcoins, u need something like blockchain.

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