Hi guys! I am a big cryptocurrency fan and thought I would like to share my knowledge with everyone as too often the lack of knowledge is being used to scam people such as unethical Ponzi/pyramid schemes like OneCoin, Capricoin, Utoken, MMM, Bitclubnetwork, BitKingdom, Coinbit, AviaBitcoin that use Bitcoin to evade BNM regulations by accepting Bitcoin deposits only.

Please feel free to ask any questions you may have about Bitcoins or other cryptocurrencies and I'll be happy to answer.

To begin with here's an introduction to the top 10 cryptocurrencies accurate as of today in terms of market capitalization.

SUMMARY OF TOP 10 CRYPTO CURRENCIES IN TERMS OF MARKETCAP

1. Bitcoin (6.3 bil market cap) The first decentralised cryptocurrency. Most merchant adoption and public awareness. Currently going through some disagreements on how to upgrade it to handle increased transaction load.

2. Ethereum (757 mil market cap) Very hot new crypto. Doesn't seek to be a currency but as a decentralised platform for applications to run. For e.g. self executing contracts that once placed in, will auto perform it upon conditions being met free from third party interference. Recently enjoyed a huge boost in price.

3. Ripple (271 mil) More aimed at banks/financial institutions and payment networks as a settlement infrastructure technology. This allows banks to settle with each other quickly at low cost reducing transaction fees.

4. Litecoin (145 mil) Used to be the no.2 cryptocurrency. Was the first altcoin that hoped to make transaction times faster and for mining to be decentralized. However these improvements have been replaced by better solutions in other coins. Development has slowed a lot and has not developed any innovative features in a while. However, still a lot of people invested in it which keeps it alive.

5. MaidSafe (45 mil): Recently gained a lot in price. Intends to replace centralized datacenters by building a fully decentralized data and communication network. That means people who participate in MaidSafe allow part of their computers to be used by other people in the network be it computing power/disk space. For e.g. it's like Dropbox except that instead of being held in Dropbox centres, your data is spread throughout the network by everyone who uses MaidSafe too in a safe and encrypted way.

6. Dash (26.6 mil): Aims to compete directly with Bitcoin as a digital curency by solving all major problems that Bitcoin has. This means instant transactions, anonymous transactions and eventually decentralized payment processors and easy to use APIs. Has a self governance model that allows stake holders to vote on the future and direction of Dash (unlike Bitcoin which relies on miners and core devs). One of the few currencies that derives its funding from its own blockchain.

7. Dogecoin (23.6 mil): Started out as a joke coin and has almost the same features as Litecoin. Fun and wide community support but little in the way of revolutionary features. One of the earlier cryptocurrencies.

8. Factom (19.7 mil): Aims to be the premier solution for records management and notarial services. For e.g. in medical records, supply chain management, voting systems, property titles. It creates an immutable audit trail. Whereas Bitcoin's blockchain stores transactions, Factom is designed to store any data.

9. NEM (15.2 mil): Experienced a huge gain in price recently. Doesn't require mining and uses POI. Has integrated messaging and multi-signature. Distributed its coins through a crowd sale. Secure messaging. Aims to be the premier solution for creating your own tokens, ledger system, asset listing without having to maintain or create your own blockchain.

10.  Monero (11.6 mil): Monero focuses on privacy with privacy at its very core. Unlike other blockchains which are transparent and publicly viewable, Monero's blockchain is opaque meaning people cannot trace your payments.

HOW DO YOU GET BITCOINS?

Get yourself a proper wallet. For Android, I recommend Mycelium, for iOS I recommend Breadwallet. For desktop usage, I recommend Multibit HD or Electrum.

You can technically also mine them but you won't get much in most cases for it to be meaningful unless you have a lot of money and a source of cheap electricity.

You can grab them off Malaysian exchanges or through trading groups.

These are the three I trust:
Coinbox Fastest deposits and withdrawals. Malaysian company. 1% fee on withdrawals but free trading.
BitX Great mobile app and website. Competitive market. 1% fee on taker.
Coinhako Buy and sell Bitcoins easily.

Although I trust them, they are by no means foolproof as regulatory approval is a bit grey. Trading groups can also be very risky so as a newbie I would advise sticking to the exchanges.

anyone eyeing on ether atm?

I read somewhere its quite a perfect way to use in case you want to blackmail others using this system.

Blackmail --> instruct them to exchange (buy) a bitcoin --> transfer to your unique bitcoin wallet which is untraceable.

Am I wrong?

There are allot of ways to look at this ...
For some its not worth it & for those who knows its a jackpot to be hit.
Nothing is profitable overnight. If you would have bought a bitcoin a year ago, now you would have made more then 160% profit. Yes it goes down too but in long run you will make money.
Everywhere around the world bitcoin and other cryptocurrency are being recognised excepted everywhere , as usual here in Malaysia we are lack of exposure, but it is picking up now.
If its not worth it why are people trying to CON you with all sort of schemes for bitcoin? Do read & watch more video, knowledge is power.
I would suggest
https://www.youtube.com/watch?v=GWKl6efhokg - what is cryptocurrency
http://www.coindesk.com - for latest news
http://coincap.io - for coin price and other info the coins listed here has value
https://poloniex.com - Cryptocurrency Trading platform
https://coinatmradar.com/countries/ - Bitcoin ATM Machine Worldwide

Note if a coin which is not listed on CoinCap do not invest or buy it. That's something called " Proof of Stake " in simple word its something created and being sold/traded among a network of people which has no value outside. Example: Onecoin & Aureus.

I've been doing this for over two years now & made good return via trading & mining. Its like you trade on forex by yourself. your money, you have control over it, your call.

If it gives you 10%/20%/30% return a month just walk away - Bitkingdom (dead) now moved to Aureus
If it gives you more reward by introducing someone just walk away - Bitclub

There are allot of knowledgeable people around doing mining, learn or invest through them get a mining rig make your own money. Rather then investing something base on iceland so called mining farms

Mining yourself requires time & knowledge. Your ROI would be around 10 months or less depending on coin price

Anyways tired of typing if need more info do p.m

Not all proofs of stake are scams. Ethereum is planning to move to a PoS system.

But indeed OneCoin and Aureus are scams and it is doubtful whether they're even proper crypto currencies with public blockchains.

More than 30% return per month is definitely possible but the key thing is that it is NOT GUARANTEED. High risk, high return. For e.g. if you had bought Dash at below 10 usd and sold it at 100 USD (which happened in a month), then you would have gotten a 10X return but you were also holding the risk that it would drop (it dipped to 2 usd at one point). Trading cryptocurrencies is indeed dangerous business.

Mining ROI is about right at 10 months. Maybe sooner if you use GPU based rigs and are very observant on new coins to mine/that are pumping (for e.g. the recent ZCash run up).

Btw I'm also the official community rep of Zcoin (https://zcoin.io). No guaranteed profits, just solid technology so if you're looking at an undervalued coin, you can take a look there too. If anything, the tech is pretty interesting!

https://zcoin.io/understanding-how-zerocoin...lutions-part-1/

Luno (formerly BitX Malaysia) is resuming trading on their platform.

Can somebody explain to me how come this BTC can become legal tender? It was created by dunno-who programmer then suddenly it is being accepted by a lot of big brand nowadays. The payment which is untraceable to me looks like fishy things is going on but why the govt/US govt do not do anything to stop this?