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 Bitcoin and other Cryptocurrencies v2

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WooTz
post Apr 22 2017, 05:00 PM


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QUOTE(goldfries @ Apr 22 2017, 03:57 PM)
Yes but see, that's the thing - when it's FANTASTIC, then I'm just afraid China businesses come whack it only, then it's a matter of time before difficulty goes crazy, no time to even ROI.
*
We're going hybrid PoS within half a year though. Mining hashpower will be irrelevant after a year of hybrid deployment.

If you want to mine in the future, you'd need to be accumulating ETH via trading or selling stuffs for it.

And the best way to get rich isn't the tokens itself, it's writing your own dapps and earning fees from that.


goldfries
post Apr 22 2017, 05:10 PM

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Interesting, for me I just enjoy mining. biggrin.gif Maybe I should go into that again.

What software and exchange you guys using now?

*sorry la I will browse this thread later on, just post Q first save time*
kmarc
post Apr 22 2017, 06:41 PM

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Greetings cryptoforumers! biggrin.gif Have been busy whole day.

Today acquired some PIVX from bittrex. Now I have another crazy idea. To buy some coins that may be listed on Polo. Anybody have any idea which coin might be listed. I have seen Polo trollbox keep on asking people to request for PIVX and ARK. hmm.gif

QUOTE(WooTz @ Apr 22 2017, 07:25 AM)
Ethereum is doing fantastic, tons of promising alphas running now and that's not including the EEA members who just joined the ecosystem, LinkedIn now got major firms recruiting smart contract devs

Can still prepare for virtual mining with ETH, hybrid POS will come by Q3 this year.

Today got this gem of a video, let's disrupt Macau, Las Vegas and Pachinko!

*
Nice! Each transaction is done realtime on-chain!

Ok, how is ETH different from bitcoin in this case? Yes, transferring bitcoin to the game will probably take some time but once the bitcoin reaches the game, it can still be played the same way. What is the advantage of ETH in this case? Is it because all transaction is recorded when using ETH to play? hmm.gif


QUOTE(goldfries @ Apr 22 2017, 05:10 PM)
Interesting, for me I just enjoy mining. biggrin.gif Maybe I should go into that again.

What software and exchange you guys using now?

*sorry la I will browse this thread later on, just post Q first save time*
*
Lots of exchanges trade ETH. Bitfinex, poloniex, GDAX, bittrex. Bitfinex has the largest volume although I'm not using it as I want to trade altcoins.

This post has been edited by kmarc: Apr 22 2017, 06:41 PM
WooTz
post Apr 22 2017, 06:56 PM


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QUOTE(kmarc @ Apr 22 2017, 06:41 PM)

Nice! Each transaction is done realtime on-chain!

Ok, how is ETH different from bitcoin in this case? Yes, transferring bitcoin to the game will probably take some time but once the bitcoin reaches the game, it can still be played the same way. What is the advantage of ETH in this case? Is it because all transaction is recorded when using ETH to play?  hmm.gif
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Well, the game is entirely written with smart contract code and fully auditable with state channel implementation, it's really groundbreaking stuff we're seeing here.

Take your time and read if you can, it's really fascinating stuff.

https://medium.com/@aerobatic/1st-demonstra...ts-165ba72be02e

Oh yeah speaking of games, there's another major crowdsale coming up involving mobile games and the Ethereum ecosystem.

Starts at April 25th

Mobilego



kmarc
post Apr 22 2017, 10:38 PM

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QUOTE(WooTz @ Apr 22 2017, 06:56 PM)
Well, the game is entirely written with smart contract code and fully auditable with state channel implementation, it's really groundbreaking stuff we're seeing here.

Take your time and read if you can, it's really fascinating stuff.

https://medium.com/@aerobatic/1st-demonstra...ts-165ba72be02e

Oh yeah speaking of games, there's another major crowdsale coming up involving mobile games and the Ethereum ecosystem.

Starts at April 25th

Mobilego
*
I suspect so. Bitcoin can only function as a currency, like transferring fiat to the game app. ETH on the other hand has endless possibilities! thumbup.gif

Thanks for the link. I have never participated in a crowdsale. This will probably be my first one. biggrin.gif And I also see gamecredits coins which I also have.... a bit! rclxms.gif

This post has been edited by kmarc: Apr 22 2017, 10:39 PM
Ken.B
post Apr 23 2017, 12:02 AM

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Hi guys,

Just to confirm my understanding.

To buy bitcoins or alternative coin like ETH, we would need to buy through an exchange like XBit Asia exchange.

First we must have a bitcoin wallet. There are 2 types of wallet, a personal one (android, apple, desktop) and one provided by the exchange.
Currencies stored in personal wallet is relatively safe as the wallet provided by the exchange can go bust anytime. In this wallet, we can put both USD and BTC/ETH.
To buy alternative coins, we first have to buy BTC with USD, then use the BTC to buy ETH.

Am i understanding this correctly?
TSwengherng
post Apr 23 2017, 12:57 AM

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QUOTE(Ken.B @ Apr 23 2017, 12:02 AM)
Hi guys,
Just to confirm my understanding.
To buy bitcoins or alternative coin like ETH, we would need to buy through an exchange like XBit Asia exchange.
First we must have a bitcoin wallet. There are 2 types of wallet, a personal one (android, apple, desktop) and one provided by the exchange.
Currencies stored in personal wallet is relatively safe as the wallet provided by the exchange can go bust anytime. In this wallet, we can put both USD and BTC/ETH.
To buy alternative coins, we first have to buy BTC with USD, then use the BTC to buy ETH.
Am i understanding this correctly?
*
Hi Ken,
If you're from Malaysia, you don't need to buy BTC using USD, you can buy directly with MYR.
And yes, in Malaysia, you'll basically have to buy BTC first, then go to an online exchange to trade it to other cryptocurrency, like ETH, XMR, etc.
The exchanges will provide you with a wallet for trading purposes, but not recommended to store your long-term investments there, so you will need your own wallet. You can use the online types that you mentioned, but it is better to have a hardware wallet like Trezor or Ledger, which is basically a small USB-like device that you use to store your coins. Since it is not connected to the internet, it is inherently much more secure.


gundot
post Apr 23 2017, 01:07 AM

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from bitcoin account to transfer to local bank here in Malaysia any method?
TSwengherng
post Apr 23 2017, 01:41 AM

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QUOTE(gundot @ Apr 23 2017, 01:07 AM)
from bitcoin account to transfer to local bank here in Malaysia any method?
*
You mean you want to sell bitcoin and withdraw in MYR?
For this, I prefer using an online exchange like XBit Asia or Luno.
You can sell your bitcoin there, and withdraw the funds into your Malaysian bank account in MYR.

kmarc
post Apr 23 2017, 09:55 AM

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QUOTE(wengherng @ Apr 23 2017, 01:41 AM)
You mean you want to sell bitcoin and withdraw in MYR?
For this, I prefer using an online exchange like XBit Asia or Luno.
You can sell your bitcoin there, and withdraw the funds into your Malaysian bank account in MYR.
*
LTC shooting to the moon! thumbup.gif

wengherng, kindly add this to the first post, under "How to buy altcoins?". Thx!

5) Bittrex
- Also carries many altcoins
- At the moment, it terms of volume, it is still very low compared to Poloniex. (From today's stats, Polo has a volume of 70k BTC while Bittrex only 7K BTC.
- Doesn't have lending facilities like Poloniex


gundot
post Apr 23 2017, 10:16 AM

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QUOTE(wengherng @ Apr 23 2017, 01:41 AM)
You mean you want to sell bitcoin and withdraw in MYR?
For this, I prefer using an online exchange like XBit Asia or Luno.
You can sell your bitcoin there, and withdraw the funds into your Malaysian bank account in MYR.
*
Thanks,these info help me so much. God Bless U.
max_cavalera
post Apr 23 2017, 10:58 AM

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At such rate btc Will hit 1500usd before June and maybe test 3000 level by end of this year ohmy.gif

Wells fargo bank moved to refuse TT for crypto exchange will just accelerate ppl chase for btc more sad.gif

This post has been edited by max_cavalera: Apr 23 2017, 10:59 AM
WooTz
post Apr 23 2017, 12:11 PM


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QUOTE(Ken.B @ Apr 23 2017, 12:02 AM)
Hi guys,

Just to confirm my understanding.

To buy bitcoins or alternative coin like ETH, we would need to buy through an exchange like XBit Asia exchange.

First we must have a bitcoin wallet. There are 2 types of wallet, a personal one (android, apple, desktop) and one provided by the exchange.
Currencies stored in personal wallet is relatively safe as the wallet provided by the exchange can go bust anytime. In this wallet, we can put both USD and BTC/ETH.
To buy alternative coins, we first have to buy BTC with USD, then use the BTC to buy ETH.

Am i understanding this correctly?
*
If you have a Singapore bank account, you can buy ETH with SGD directly via Coinbase and Gemini.

both have similar fees dues to USA bank wires, at 1.5%
TSwengherng
post Apr 23 2017, 05:41 PM

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Beautiful rally of both LTC and DCR...... rclxms.gif
My LTC is already at 80% profit and reached my original target price of USD 17...... I probably should unload some to cash in my profits, then diversify into another altcoin.


wiisg
post Apr 23 2017, 05:52 PM

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Will btc dip anytime? Wanna get some but its so expensive cry.gif
TSwengherng
post Apr 23 2017, 06:13 PM

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Wow I just noticed that there is a 98 BTC buy wall on Belacoin.
Somebody obviously thinks this coin is going to go places.
What's with this coin anyway?
Haven't done any research on it.

kmarc
post Apr 23 2017, 06:35 PM

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QUOTE(wengherng @ Apr 23 2017, 05:41 PM)
Beautiful rally of both LTC and DCR...... rclxms.gif
My LTC is already at 80% profit and reached my original target price of USD 17...... I probably should unload some to cash in my profits, then diversify into another altcoin.
*
Nice nice. So fast unloading?

QUOTE(wiisg @ Apr 23 2017, 05:52 PM)
Will btc dip anytime? Wanna get some but its so expensive  cry.gif
*
I've been waiting for ages and it doesn't want to come down. There is a possibility that it will drop it bitfinex can sort out their USD withdrawal problem. However, it seems unlikely at the moment.

QUOTE(wengherng @ Apr 23 2017, 06:13 PM)
Wow I just noticed that there is a 98 BTC buy wall on Belacoin.
Somebody obviously thinks this coin is going to go places.
What's with this coin anyway?
Haven't done any research on it.
*
Belacam was apparently a disappointment but that was I think like a week ago. Developer did apparently correct the problem but I didn't follow what happened after that.
sirxl
post Apr 23 2017, 09:36 PM

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this Yayasan Bitcoin Sedunia thing on facebook is dodgy. I see some ponzi people in there. beware.
kmarc
post Apr 23 2017, 09:55 PM

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Things might blow up due to Bitfinex bank problem unless they can solve it: http://www.coindesk.com/bitcoin-traders-ra...halts-deposits/

Traders Raise Concern as Biggest Bitcoin Exchange Halts Deposits

QUOTE
An announcement by one of the world's largest bitcoin exchanges has stoked fears another Mt Gox-style meltdown may be brewing.

The largest bitcoin exchange by US dollar volume in recent weeks, Bitfinex revealed today it will be unable to accept incoming wires starting tomorrow, a statement that comes after it disclosed late last week that it was experiencing delays in US dollar withdrawals.

The exchange said in a statement today:
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    "Beginning 18th April, all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks. This applies to all fiat currencies at the present time."

Notably, Bitfinex didn't offer any details as to why the banks – the subject of a previous wire transfer dispute that began earlier this month – will not accept the transfers. (The exchange ultimately went to court over the decision, but withdrew its lawsuit one week later.)

While Bitfinex is said to now be working on solutions to its banking issues, market observers are suggesting cause for concern.

Jacob Eliosoff, cryptocurrency fund manager, spoke to the general reaction that this situation has so far provoked, discussing how the resulting freeze in withdrawals could create abnormal pressures in the market.

"This is a dynamic many of us remember from the Mt Gox days when there were problems with fiat withdrawals," he said. "Investors responded by converting fiat they had on the exchange to bitcoin so they could withdraw it. [In other words], they buy bitcoin to withdraw, pushing up the price on the exchange."

Eliosoff went so far as to state that some market observers could perhaps view this as an opportunity for arbitrage, using it as an excuse to deposit bitcoin in order to sell at the high price and buy the bitcoin back again.

Charles Hayter, founder and CEO of CryptoCompare, provided a similar sentiment.

"The hiatus [of] Bitfinex's banking facilities have led to a rush by some to extricate their bitcoin from the exchanges," he told CoinDesk.
Widening exchange spreads

Because of these developments, exchange spreads have widened, with Bitfinex enjoying a more than $50 premium in some cases at the time of report, according to data from CryptoCompare.

Bitcoin was trading at roughly $1,235 at 18:55 UTC on Bitfinex, compared to roughly $1,185 on Bitstamp and $1,190 on GDAX.

The spread harkens back to the final days of Mt Gox, when data showed the exchange consistently traded between 10% and 26% above its competitors.

While analysts voiced their concerns, they were optimistic that Bitfinex would emerge from this situation unscathed.

The victim of a hack last August, Bitfinex has shown a propensity to bounce back from operational difficulties. After losing nearly $65m in customer funds, it would go on to "socialize" losses among exchange users, using a new cryptographic token to credit customers.

The system would later win praise from supporters, who saw it as a creative way to avoid bankruptcy and pay back users.

Hayter offered similar input, emphasizing that Bitfinex has a "solid" reputation. "The hope is this will be dealt with in a timely and professional manner," he said.

Eliosoff concluded:

    "The big picture here is that these operational hiccups are still common in the space."


Bitfinex announcements : https://www.bitfinex.com/posts

This post has been edited by kmarc: Apr 23 2017, 09:57 PM
TSwengherng
post Apr 23 2017, 11:04 PM

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QUOTE(kmarc @ Apr 23 2017, 06:35 PM)
Nice nice. So fast unloading?
I've been waiting for ages and it doesn't want to come down. There is a possibility that it will drop it bitfinex can sort out their USD withdrawal problem. However, it seems unlikely at the moment.
Belacam was apparently a disappointment but that was I think like a week ago. Developer did apparently correct the problem but I didn't follow what happened after that.
*
I have been cashing out a portion of my LTC holding, just so I can buy some other alts.
Guess I will have to do some reading on Belacoin.


QUOTE(sirxl @ Apr 23 2017, 09:36 PM)
this Yayasan Bitcoin Sedunia thing on facebook is dodgy. I see some ponzi people in there. beware.
*
Never heard of them.
From Malaysia?



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