To understand why we need crypto in the first place, it is important to first understand how our rotten monetary system works. Mike Maloney explains it really well here.



I'll explain why Ethereum, the number two market cap in crypto land has a valuation of US$880,000,000 today. The project is still largely new, and experimental (we'll be having our second hardfork to clean up the DoS attacks from September).

Its value rises and falls depending on the outlook of the project. With more successful companies and countries adopting and profiting from Ethereum, naturally the price goes up, if a major contract or exchanges got hacked like TheDAO and Bitfinex, the value plummets.

Ether is the native token used to power the Ethereum Blockchain, the foundation seek to reinvent the internet, where we no longer need to rely on google, Apple and Facebook for our needs, we just build and run our own private google, Apple and Facebook.

I can't really recommend buying into Ether until they solved the scalability problem via Proof of Stake in the future. So if you are interested to learn more, make sure to do your due diligence.

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This post has been edited by wonglokat: Nov 29 2016, 04:35 PM

I'm looking forward to getting into mining (not BTC but the other altcoins like ethereum, zcash, xmr and so on), I'm currently mining on my own PC with an R9 270X, using nicehash miner, I'm making about 0.68USD/day without calculating electrical bills but I'm assuming I'll still make more than I pay for but it'll be a long & slow process, I'm interested in getting a dedicated mining rig with a few GPUs on it, does anyone have any suggestions which GPUs I should get for best ROI?

This post has been edited by Chips556: Dec 2 2016, 08:51 PM

Bitcoin wants to moon, $820 today.

your thoughts?

so when is the best time to invest in bitcoins?

best time was 10000 BTC pizza days, second best time is today

just buy with spare change and keep it safe.

https://remitano.com/my?flyingspaghettimonster=shan23
place to buy n sell bitcoin in malaysia

This post has been edited by bb.supplements: Jan 3 2017, 03:27 PM

There's some drama surrounding Remitano at the moment which makes me unable to support them as there is evidence that they are not below promoting themselves to ponzi/pyramid schemes and their setup is a bit questionable given that there's no Malaysian entity or a foreign registered company in Malaysia at the point of writing. Seems it appears they use some nominee here which they had a falling out as well.

Localbitcoins is stilll an option.

With the recent rise in price of Bitcoin and other cryptocurrencies, many people are excited at the prospect of overnight riches.

Yet the vast majority of people still can't tell the differences between real projects and the scam coins or the ponzi schemes masquerading as crypto/fintech projects and honestly, it's not easy.

I wrote an article for Bitmain that will help:
https://blog.bitmain.com/en/rise-of-cryptoc...-identify-them/

Pro Tip: If your cryptocurrency investment's name is Aureus, BitKingdom, Dinardirham, OneCoin, Sustaincoin...yup...ponzi scheme scams

A very nice thread regarding cryptocurrency.. Let say i wanna start to invest is there a minimum amount that i can invest. Example rm 60 for 0.02 btc based on bitx exchange rate

No minimum amount really

Hello all, looking for legit Bitcoin seller. PM me privately.

Hi Reuben,

Need your input. I have a friend who invited me to join him and mine for btc. He plans to get around 20 S9s and set up in his own (empty) house. He is new to this but ambitious. Myself, I am still reading up and watching videos.

1) We did the calculations and for now, we can still get a little profit, provided everything goes well. You think it's still worth to mine or maybe better to just buy btc with that money?

2) He plans not to use air con to cool the room so as to maximize earnings. I think that's a little risky. Your thoughts?

Personally I am rather apprehensive as we are a little late in the game and yet this friend is all pumped up. Any other input is appreciated.

1) I think its just better to buy BTC. It's really not worth to buy unless you're doing it for a hobby. Did you factor in difficulty increase?

2) It's okay not to use aircon but then you must use industrial fans in a push pull configuration to make sure you get sufficient air flow as it gets hot.

Make sure your house has 3 phase. You don't want to blow shit or start a fire. Imo, just avoid it. There are easier ways to make money. You can check my signature for our Telegram group where we discuss about crypto

Jibcoin

Hi Reuben,

Thank you for the response. Yes, he is using 3 phase. Appreciate your input here. I had the same feeling. Better to just buy than to go through all that trouble. Thanks again.

The real challenge apart from electricity cost is the hashing difficulty increase. In 2016 alone, the difficulty has been increased 117%. Means if you have a miner earning maybe rm10 per day in Jan 2016, you could probably earn only rm5 in Jan 2017. The increase of difficulty happens every 2 weeks. You will experience gradual decline of earning over time, so you need to upgrade/add miners consistently to keep up with the difficulty increase.

This Jan-Feb 2017 alone, the difficulty has increased 30%!

Check the difficulty graph and table at:
https://bitcoinwisdom.com/bitcoin/difficulty

There was an interview on BFM with the CEO for XBitAsia, a local Malaysia Bitcoin Exchange. Very insightful podcast at
http://www.bfm.my/bg-yuwarajan-k-xbit-asia...ur-wallets.html

They weren't the first Malaysian Bitcoin exchange. But interesting. Wonder how long it will last given the closure of so many.

Also Bitcoin is at all time high lol