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 Bitcoin and other Cryptocurrencies v2

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jack2
post May 25 2017, 08:52 PM

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QUOTE(kforlife @ May 25 2017, 08:45 PM)
Hi all sifus, I'm very new here. So recently I bought RM1000 of BTC, then I plan to convert it to ETH using changelly. If let say ETC price goes up from $200 now to $400, How should I sell it to cash then?
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1. Sell ETH and convert to BTC and then sell to people or withdraw via the exchange that supports MYR withdrawal.
2. Sell ETH directly to people or exchange that supports MYR withdrawal. rclxm9.gif
jack2
post May 25 2017, 08:58 PM

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QUOTE(AllnGap @ May 25 2017, 08:56 PM)
problem is when u handcarry back ler....

i've known some syndicate would do this just for merely 6% difference.
airflown USD to indonesia, then carry rupiah back

mind u this is more than 60% difference man.....
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QUOTE(blueblueoutofblue @ May 25 2017, 08:56 PM)
Later lu ambil our BTC and vanish thr lol 😂
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can contact Korean people n we go there? ask them standby and discount 5%
jack2
post May 25 2017, 09:02 PM

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QUOTE(blueblueoutofblue @ May 25 2017, 08:59 PM)
Y wanna go there ? Can't we just sell them directly $4500, they trf money to us smile.gif
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QUOTE(blueblueoutofblue @ May 25 2017, 09:00 PM)
cash on delivery smile.gif
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I don't think they will trust you. It is same to us that they ask us to give BTC first and they transfer $.
jack2
post May 25 2017, 10:10 PM

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QUOTE(WooTz @ May 25 2017, 09:47 PM)
Someone should start an exchange!

Kraken, GDAX all getting hammered today and the coming weeks ahead.

so frustrating, adoption is coming and we are nowhere prepared
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QUOTE(sirxl @ May 25 2017, 10:02 PM)
have a budget ready and ping me. 
we can do this.
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Let do....
jack2
post May 25 2017, 10:35 PM

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I have 0.35 BTC is for sell now. PM or Telegram
jack2
post May 25 2017, 11:03 PM

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Got such people to buy 1BTC = USD4450+?


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jack2
post May 25 2017, 11:19 PM

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QUOTE(Enigmatic @ May 25 2017, 11:14 PM)
Implement a decentralised exchange with its own token. tongue.gif
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That is B's book.. Profitable and can go bankrupt in one night too.
jack2
post May 26 2017, 12:24 AM

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QUOTE(kmarc @ May 25 2017, 07:59 PM)
Dear cryptoforumers,

Here's comes another "episode" of my ramblings.  rclxms.gif I want to discuss on the multiplier effect of bitcoin and why you should also get some good altcoins.

Before that, here are some advertisement..... I mean disclaimers. I am only 3+ months in cryptocurrency and I have no TA or FA skills. However, I have super NA skills. If you don't know the meaning, in stocks, TA is technical analysis where you analyse charts to make smart trades. FA is fundamental analysis. NA is .... noob analysis.  biggrin.gif I am not in the financial sector and am not a pro-trader. Just a normal guy and the following is only my opinion. You should do your own research and buy the coins which you think is good. Lose money don't blame me!

In terms of investing in cryptocurrencies, these are the coins you must consider:
1) Bitcoin - this is a no brainer. From the trends, it looks like it will go up more, until bad news comes along
2) ETH - world wide web 3.0. It has great potential and will probably go to great heights too

Now here comes the interesting thing. Besides investing in just bitcoin and ETH, you should consider putting a percentage of coins in other good altcoins. Again, I'm may be seen as bias as most of my funds are in altcoins. I only have 0.5BTC in my hardware wallet.  bruce.gif Anyway, the reason I recommended good altcoins is as follows:

1) Diversify you investment. I guess this applies to any investments in general
2) Some altcoins can go ballistics with thousands of percentage gains!
3) Most altcoins are paired to BTC, resulting in rise of BTC actually multiplying the effect of the rise in altcoins. This is what I want to concentrate on.
Say bitcoin is at USD 1000 and an altcoin is altcoin/BTC 0.010 (face value of USD 10). Now, say BTC rises 10% to 1100 and altcoin/BTC doesn't change at 0.010 (zero % increase). Because the altcoin is paired to BTC, the value of altcoin has also increased! Now it is USD 11! Now in the same scenario, if the altcoin ratio increased 10% (i.e. 0.011) and BTC increases 10%, the actual value is multiplied by BTC's increased i.e. 0.011 x USD 1100 = USD 12.1. (1.1 x 1.1 = 1.21)

Here's a clearer picture:

BTC same, altcoin 0.010 = altcoin value USD 10
BTC increase 10%, altcoin 0.010 = altcoin value USD 11 (1.1 x 1.0 = 1.1)
BTC increase 10%, altcoin increase 10% = altcoin value 12.1 (1.1 x 1.1=1.21)

As you can see, if both BTC and altcoins rises, the gain from holding altcoins is much greater than holding BTC alone! Even if BTC rises and the altcoin drops, the value might not change much depend on how much the rise is against the drop.

Another real-life example is my own holdings, say CLAMS. I first bought clams at 74000 sats on 13/3/2017. At that time BTC was around around USD 1200. Now clams is about 220000 sats. In terms of gains, my clams would have gained roughly 297%. However, note that BTC is now roughly USD 2500. So:

Initial buy, say 100 coins clams: 100 x 0.00074 x USD 1200 = USD 88.8
Profits if BTC is USD 1200 now: 100 x 0.00220 x USD 1200 = USD 264 (297% gain)

Now here comes the great thing, BTC has gain 208%! (USD 2500/1200 x 100%)
So, my 100 clams is worth : 100 x 0.00220 x USD 2500 = USD 550 (619% gain!)(2.97 x 2.08 = 6.19)

So if were to hold BTC, I would have gain a good 208%. However, because I hold clams that is paired with BTC, my gains is actually 619% instead of just 208% for BTC or 297% for unpaired clams!!!  rclxm9.gif

Of course, the above only holds true if the trend of the past 3 months continues. Meaning:
1) BTC is still slowly rising
2) BTC sudden rise leads to a sea of discounted coins to pickup!
3) Once BTC stabilize, altcoins recovers or even gain much more.
4) In most instances, altcoins gains outnumber altcoin loss in terms of percentage and number of coins (i.e. more green coins most of the time and higher percentage gains rather than loss (e.g. 50% gain but only 30% loss)

I'm not exactly sure what would happen if there were sudden bad BTC news as I have not gone through a "Mt Gox" scenario.Due to this noob observation, I am of the opinion that to get greater gains, one should consider some good altcoins. For newcomers, be patient and wait for good discounts.

Again, this is just my observation and I do not know what will happen in the future. Invest safely and hope everybody makes money from cryptocurrencies!  rclxm9.gif

Come, let's discuss and kindly point out any mistakes or errors. wink.gif (Boy, I'm having a headache....... rclxub.gif )
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Well written and good analysis.

I was thinking the same as yours but I lazy to do detailed calculation... rclxs0.gif

jack2
post May 26 2017, 12:55 AM

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QUOTE(wiisg @ May 26 2017, 12:54 AM)
Dump partyyyyy
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Party.. bruce.gif
jack2
post May 26 2017, 12:57 AM

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QUOTE(wiisg @ May 26 2017, 12:56 AM)
Hapii la uu
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I am happy that I can sell off my BTC at 14000 and 14500 at Xbit Asia.
jack2
post May 26 2017, 01:02 AM

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QUOTE(wiisg @ May 26 2017, 01:00 AM)
How many of emm  doh.gif  doh.gif
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0.5 only
jack2
post May 26 2017, 08:00 AM

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QUOTE(hjffgjng @ May 26 2017, 07:36 AM)
https://www.cryptocompare.com/coins/eth/markets/BTC

cyrptocompare list BTER have the bestest price for ETH

is there any better than BTER?

want to sell
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sell to me lo
jack2
post May 26 2017, 08:17 AM

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QUOTE(hjffgjng @ May 26 2017, 08:12 AM)
BTER gives 0.082 btc for 1 eth

you give how much
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Hahaa... it is misleading

https://bter.com/trade/eth_btc

That is sell order queuing and no guarantee of buyers to take up. Look at history, mostly are below 0.07x

This post has been edited by jack2: May 26 2017, 08:24 AM
jack2
post May 26 2017, 08:30 AM

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QUOTE(WooTz @ May 26 2017, 08:27 AM)
jack2

Got a full time job for you soon.

Do us proud!

https://localethereum.com
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Really? drool.gif drool.gif
jack2
post May 26 2017, 09:19 AM

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QUOTE(tatty89 @ May 26 2017, 09:17 AM)
dear sifus, very noobie question here. I saw some platforms has trading section for digital currency (BTC, ETH, and others) and if I bought some, for example, ETH on this trading section, does it mean I own the ETH and it will be in my wallet (provided by the platform)?

I'm asking this because I saw platforms like CEX.IO allows you to directly buy ETH/BTC instantly (of course with higher fees) or through the trading section. I'm just not sure what's the difference between the two. Please don't flame me sad.gif
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Yes, it is in the wallet generated by the platform and you can withdraw it to any places. But you need to know how their withdrawal works...

CEX.IO has high high price.
jack2
post May 26 2017, 09:25 AM

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QUOTE(kmarc @ May 26 2017, 09:23 AM)
Some caution in cryptos euphoric environment : https://m.youtube.com/watch?v=91oot6hKbx4
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Expected...
jack2
post May 26 2017, 09:29 AM

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QUOTE(kmarc @ May 26 2017, 09:28 AM)
I just hope Malaysians have another avenue to convert cryptos to fiat in the very near future instead of relying mainly on bitcoin.
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There is someway to hedge bitcoin at higher price and re-buy again when lower with minimal fee.

That is what I have been done since 2 days ago.
jack2
post May 26 2017, 09:32 AM

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QUOTE(Chelsea-Fan @ May 26 2017, 09:29 AM)
Which platform has the lowest fees to buy eth?

I am currently using cex.io and their trade zone selling eth for usd 185.

Is it fair price now?
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Trade zone is bought from seller?

Their instant buy is $201 per ETH leh...
jack2
post May 26 2017, 09:42 AM

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QUOTE(wengherng @ May 26 2017, 09:39 AM)
You mean like a put option?
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I don't do put option. Haha.. I have other ways.


jack2
post May 26 2017, 09:58 AM

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QUOTE(maranello55 @ May 26 2017, 09:56 AM)
nope. its my nicehash stats

user posted image
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Aiyo.. I read also blur.. Because Bitcoin/USD is dropping now compared to last night.. dropped about 15%.. so your USD is expected the same value.

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