Damn......over USD 12 billion market cap now.
Seems like a real possibility to overtake BTC, though I personally doubt it.
I think it might go near, but profit taking and FUD will prick the bubble and send it crashing down.
BUT, I still think that the bottom of the valley, once it's crashed down, will still be higher than when it started the meteoric ascension.
So, I think I am going to hold out on this one.

Damn, where's that crystal ball when you need one......

It actually opened around 6000 sats if I remember correctly, but now dropped to around 2900 sats.
I went in during the first round, where there were some bonus issues, so my initial investment price was around 2380 sats (getting near to making a loss...)

Well, that could be a way too, to spread all your investments across various platforms.
If anything, at least it makes it very convenient to trade on the go, instead of having to wait for the transfer from a hardware wallet.
I'm just lazy to keep track of so many platforms and so many passwords and 2FA...... haha.

Received my Ledger Nano S today!
Going to set it up now.

In any case, I've been reading too much news on either side of the divide, whether the euphoria and hype in the crypto-world since March has reached its peak and the bubble is going to burst bringing the doomsday of crypto with it......or we are just starting to see the beginning of an era-defining change in the world of finance and economy that will forever change the world.

I am just going to say "screw it all" and stop all trading for the next few days, or a week or two.
Whether Ripple comes crashing down bringing all my profits to zero, or ETH going to reach USD 1000 next week......come what may, let it be.
I'm exhausted, I need a break.
Going to sit on the side lines for a couple of days.

But to all my crypto-buddies here......happy trading, and may the odds be ever in your favour!

You'll love it.
It took me just a few minutes to set the whole thing up.
Now I'm in the process of transferring all my precious coins to it.

Well, maybe buy a bit from the side lines if I happen to have some spare cash.

I actually didn't know what my original entry price was, so I went and calculated just now.
Apparently I bought when XRP was at 5122 sats, but at that time Bitcoin was only around USD 1100, so effectively my entry price was around USD 0.056.
Not bad, for one and a half months of investment.

Unfortunately, I only put in a few hundred bucks, so no, I'm not a millionaire yet.

Looking at all these sudden massive increases, makes me wanna sell off and cash out my profits.
But then I remember how people were doing the same thing when bitcoin rose from a few cents to one dollar.
And we know the rest is history.

You are not alone...... I am stubbornly holding on as well.

The Ledger Nano S does not recognise any particular computer.
As long as the computer has the Chrome app installed, it can access the hardware wallet and retrieve the information (sort of like any computer can access the information on a USB memory stick).

If the wallet is broken for whatever reason, get a new wallet and initiate the recovery process using the 24-word recovery phrase.
The same 24-word recovery phase will then grant you access back to all your various coins stored on that Ledger Nano S.
Make sure you write down these 24 words and store them in a VERY safe and secure location.
If they're lost, then your coins are lost.

Wait, I don't understand......you're saying that you feel uncomfortable sending your coins to the hardware wallet, compared to leaving them on an online exchange...???
Hardware wallets are the most secure to store your coins, whereas online exchanges like Polo are the absolute worst places to store your coins......why would you feel uncomfortable with a hardware wallet?

Just to clarify, the computer Chrome app does NOT store any information regarding your coins.
The program is merely an interface for you to SEE what's stored in your hardware wallet, and serves as the interface when you want to send or receive coins.
The private keys are always stored in the hardware wallet only.
This is the reason why the Ledger Nano S can be used on any computer, and it's just plug and play.

Well, you know what they say, the hardware wallet and the recovery seed is as good as cash itself......the person who holds the hardware wallet or recovery seed (and therefore by extension, holds the private keys) controls the coins.
You wouldn't leave your cash lying around, so in the same manner you shouldn't leave your hardware wallet or the recovery seed lying around either.

I don't have a Trezor, and have not activated any pass-phrase on my Ledger.
Will need to look into it shortly.
At the moment, I only have the PIN-number activated (which I know, only secures the Ledger but won't help if someone else found my recovery seed).

You're referring to the passphrase which activates the hidden wallet feature, right?
It can be activated any time you want, in the Settings > Security menu.

I opened the image and didn't even understand what I was looking at.
Guess it's not for me.

Remember that when BTC went from USD 1 dollar to USD 100 dollars, people were also saying that it was a bubble and the price was too expensive and not sustainable.
When the price goes to USD 10k, it really wouldn't matter very much whether you bought at USD 1700 or USD 1900.


That's not a problem, just send your coins from Coinbase to either Luno or XBit Asia in order to withdraw Malaysian Ringgit directly.
Alternatively you can sell on Localbitcoins or Remitano also.

Nope, I don't agree at all.
The risk of "losing" your cryptocurrency is actually pretty low if you exercise common sense and do your due diligence in terms of security. Cryptocurrency is just like cash, so it should be treated as such. Don't do anything with it that you wouldn't do with cash.
I am currently working outside of Malaysia, and my salary has actually increased 40% over the last 3 years purely from the RM depreciation itself. I would say that's a pretty high risk.

Of course, traditional investment vehicles like shares and unit trusts, etc. are also very important for diversification, and I do hold them as well. No arguments there.

But cryptocurrency is not merely another form of investment.
It is the future, and it is happening now.
Not since the development of the Internet, has there been another invention that will so fundamentally change the world we live in, in a financial, economic, real-life everyday sense.
And we are now on the brink of it, at the infancy stage, and we now have the opportunity to be a part of it from the beginning.

If you look at it purely from an investment point of view, then, as kmarc said, it is an extremely high risk investment vehicle, with potentially ridiculous returns.
For example, I bought ether (ETH) at below USD 17 each, just two months ago.
It's trading at just above USD 100 at the moment.

More than USD 30 billion flowed into the cryptocurrency market capitalisation over the past few weeks alone, which is the main reason the demand is driving up the prices in general.
And this is the reason why I said that cryptocurrency is fundamentally changing the financial world, not only for investment alone, but in an everyday, real-life sense.
For example, the massive 800% inflation in Venezuela, the sudden overnight demonetization in India last year, etc......all these situations which are out of the control of the average person (you and me) necessitates a system that is decentralised, not able to be controlled by any single country, government or entity, that is truly global and without borders.

I put my money in cryptocurrencies not simply because I will make money from it, but because I believe in future, it will *be* money.

And by the way, that's close, but not a perfect analogy.
If someone steals my cash under my pilllow, the cash is gone. With a hardware wallet, I can buy another hardware wallet anytime and activate it using my secure recovery seed, and I will get access to all my coins again.

Our mate WooTz here got in when ETH was still in the low single digits.
He's the real-life crypto-millionaire here...!

Woah...... I left for a few hours and suddenly EMC2 went up by 100%...?!!
What the hell happened???

Pump and dump again.
It'll correct soon enough.
Guess I'll just hold on.
But to be honest, seeing a 600% profit on the books is a really good feeling.

But the really good thing is, usually after every major pump and dump, even after the subsequent correction, the aftermath price is still higher than before the pump.
And with the spike, it gains a lot of exposure and now more people will start to pay attention to the coin, thereby also increasing its demand.
All in all, a good thing.

Don't worry......at least you tried.
30 years ago, nobody would have understood if you told them that one day, you would have communication devices the size of your palm, which can let you search through encyclopedias of information and also lets you talk to another person face-to-face, via video, in real-time, and best of all, FOR FREE (well OK, not totally free, you still need to pay for your data plan).
Fortune favours the brave and the bold.