No, it's not always 1:1.
It usually (and very easily) swings a couple of percent each way.
Just like recently when it dropped to as low as USD 0.92.

I personally use Xbit Asia and have never encountered any problems at all.
Yes they're not available on weekends, and the spread is not always the best due to lower liquidity, but other than that I don't have any issues with them.

There's no moderator in this thread, so I took the liberty to create this v2 thread.
I'm not sure if there's any regulation on the maximum page or post count for a thread, since I see some threads go on for hundreds of pages.
I'm going to throw an arbitrary number here...... once this thread reaches 250 pages, I'll start v3.
Everybody OK with that?

Lowyat forum website was experiencing technical issues and I was not able to log in at all over the past few days.
I read back the previous posts and originally wanted to reply, but you guys already gave a brilliant reply.
Kudos guys.

Exactly mate...... you took the words right out of my mouth.

Good for you!
That's called arbitrage.
Some people can actually make a living doing this.

Yes there is.
Xbit Asia is another rather popular online exchange for Malaysians.
Check out the first page for more information.

Our man WooTz said earlier......once ETH reaches USD 300, he will retire.
And our friend here is not even 30 yet this year!

By comparison, to do the same, I need ETH to reach USD 5000......
Who knows, it might even be possible in due time!

Personally, I have no particular love for any particular cryptocurrency.
I put my money into whichever vehicle that can help me reach my ultimate objective of adequately and sufficiently providing for my family and hopefully retiring early.
In the current scenario, I have both BTC and ETH, because I honestly believe in the actual use cases of both of them.

I have a specific number in mind, after taking into consideration my current income and expenditure, my projected cost for children's education, family obligations, etc.
Actually, come to think of it, the number should be lower, since I did not account for my holdings in other coins. If Bitcoin goes ballistic as many experts predicted, I might be able to retire hopefully within the next 10 years? (All these talks about bitcoin reaching USD 100,000 and all)

Whatever I have will definitely be much much lower than your holdings, because I was "kiasi" and did not listen to you when you were buying all the various altcoins earlier which have skyrocketed several thousand percent profit......

I was thinking of opening the new thread once it reaches 250 pages, but not to worry, I think we can wait till you're back (actually I just came back from vacation myself).
What I'll do is, I will open the thread with a few "reserved" empty posts on the first page, and then we can populate them in the same manner we did with this thread. Sounds OK to you?

Depends on what your objectives are.
Short term trading for profit? Or mid to long term holding?
Many of us here believe that there is still a lot of upside potential for ETH.
I personally see USD 300 - 350 in the coming months, easy.

Of course 60% gain is higher.
From USD 2,200 to USD 2,800 (USD 600 gain) is only a 27% increase.

Or did I misunderstand your question?

Hey guys......I'm not a moderator and have no particular rights here.
But come on mates, let's all just take a minute and chill it down a couple of degrees, OK?

We're all here because we love cryptocurrencies and want to make money from our investments, and help each other along the way.

Let's just put the past behind us, no matter what he or she or whoever said, no matter who started it, no matter who called who names first......let's cut the back and forth retorts, take a deep breath, smile, and move on, shall we?
Let's be the better person here.


(P/S: If anyone is the retard, it has got to be me......because I was too afraid to jump onto the altcoins bandwagon back in January/February, which if I did, I would have been able to retire right about now......don't remind me.)

It will go through, eventually.
However, WHEN depends entirely on how congested the system is.
I once had a similar problem about 2 months ago (too low transaction fee) and my bitcoin was stuck floating in limbo for 9 days before it appeared in my Poloniex account.
But most times it takes 1 - 2 hours.

But don't worry, your coins are not lost.

Technically speaking, you COULD do that, but it would be rather risky.
Cryptocurrencies are in it's infancy growing phase, with very high volatility.
If your remaining 20% would be able to last you for 6 months or more in the event of any unforeseen circumstances, then I suppose you could consider putting 80% into cryptocurrencies.

But for those who got in early, the recent incredible growth rate itself would have likely skewed their original allocation by now.

I processed my Luno account verification during the days when it was still BitX.
Gave them a copy of my TNB bill in PDF format and my account was verified to Level 3 within one day.

The process is exactly the same as buying but in reverse.
Convert to bitcoin, send to Luno or Xbit Asia, then sell and withdraw in Ringgit Malaysia.

This post has been edited by wengherng: Jun 6 2017, 11:50 AM

You're incredible.
You seem to always have an unlimited amount of cash flow to keep buying altcoins.

You're right, that is true under normal circumstances.
However, during abnormal spikes and dips, FUD causes the masses to transfer their wealth around within the cryptocurrency sphere.
For example, when bitcoin spikes, a paired altcoin should go down in the same percentage, but because many weak investors try to ride the wave, they start selling the altcoin and move the money to bitcoin, which causes the market cap of bitcoin to go up and the market cap of the altcoin to go down.
This imbalance is the mega sales opportunity that the sifus here are talking about.

That's why it's so important to do a fiat comparison before you put your money into any coin, so you know whether fresh money is coming in or out of the coin.

Yes, exactly.
Also, just to throw a wrench into the equation, you have to keep an eye on the overall market cap of all cryptocurrencies in general.
That is the best indicator of whether fresh money is being pumped in.

And I noticed that the overall market cap just breached USD 100 billion today.
Exciting times.
I'm not quitting my day job yet, but I sense that my ship will be coming in soon, in the near future!

Personally, I believe yes.
But I also recommend spreading your investment slightly and get some ETH.

Contact their support.
I just logged in and I didn't observe any issues.

On a separate note......I noticed quite a large difference in buy/sell spread between Luno and XBit Asia.
Just looking at face value, it seems Luno's prices are much better for buying bitcoin compared to XBit Asia.

Hehe, true also.
But life is too short to be slaving myself away in a cubicle.
I would like to travel the world more.
I still have a few places on my bucket list that I want to visit.

Sorry, what is /k?

OK thanks......just read a few of the posts there.
I do not like the tone of discussion there......seems there are some rather angry people around.
Prefer the more supportive and helpful environment in this thread.

We don't always have to agree with each other, and it's OK not to be friends with everyone.
But at least we have to respect the fact that everyone has their own opinions and mindsets.
Name-calling doesn't help anyone, and just annoys everybody while reflecting badly on our own upbringing.

Chill mate.
All we can do is to spread the word, and hopefully can give enough information to let the other party make up their own minds.
We cannot force someone to see what we see.
In time, they'll see.

Remember that when automobiles were first invented, a lot of "experts" condemned the invention, claiming that it was a fad that would die off, and that such "extreme" speeds (some automobiles could go up to 20 miles per hour!) would be hazardous to the human body.
They said the same when the first airplanes were invented.
Skepticism is nothing new.