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 Bitcoin and other Cryptocurrencies v2

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luotang
post Mar 26 2017, 07:14 PM

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So I browse through the forum and found this thread. Great to know that the community is interested in cryptocurrency.

I bought ETH last year and keep it until now only to see good return recently. Reading the thread I found that I can actually lend my coin out. So I am going to give it a try.

How is the return rate like? Is the return going to be in ETH as well?
luotang
post Mar 26 2017, 11:18 PM

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QUOTE(kmarc @ Mar 26 2017, 07:51 PM)
I see. Good to know!  thumbup.gif

Gosh, buying ETH at USD 50 is hard. Of course, not as painful as 1 BTC but still, the money spent to see so few coins....  cry.gif

Luckily I still enjoy to see my half million coins of Doge, which is actually moving a bit!  cool2.gif
Nice to hear that.

Yup, the returns will be in the form of the coin you lent out. The return rate varies for each coin and between different coin. This is because you compete for the best rate to lend out and how high the demand for the coin is. At the moment, ETH rate is very bad, around 0.003% per day. If somebody takes up the loan, the next higher rate will be available. Some coins get good rates for a short period when demand is good.

Just yesterday, somebody requested a huge amount of loan at a rate of 2% per day! for Doge coin. I tell you, it was bliss lending it out. However, most of the loan was returned after a few hours but I still have some running at 2%.

Here's some examples of the rates I'm lending out at this moment:

ETH - 0.0017-0.0029%
XRP - 0.0098%
Maid - 0.048%
Doge - 0.0299 - 2%
Dash - 0.049 %
Clam - 0.1 - 0.974%

Do note the rates is for 24 hours and the calculation starts the minute you loan it out until the guy cancels the loan. It can be the whole tenure (usually I set to 2 days) or it can be a few minutes only!

Anyway, you just have to go to the lending tab and check out the rates for each coin. wink.gif
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Very helpful reply, cheers for that rclxms.gif rclxms.gif

ETH lending rate is so low, probably due to large supply and circulation around the market. 0.003% is like 1% p.a. if successfully lending out everyday. If that's the case I then really no point doing this?

So if the guy return in a few hours then the rate is 0.003%* hours/24?
luotang
post Mar 26 2017, 11:19 PM

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QUOTE(WooTz @ Mar 26 2017, 08:45 PM)
I'd suggest pulling it out of the exchange instead.

lending it allows more shorts, diluting your overall value way beyond your tiny rates.

Want better price stability and growth, it's better to hodl.

Don't feed the whales.
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Well as kmarc said I am small kaki, not holding a lot of ETH really

So you mean people borrow my ETH they can use to short sell?
luotang
post Mar 27 2017, 01:28 PM

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QUOTE(kmarc @ Mar 27 2017, 08:16 AM)
Ya, supply and demand. Yeah, 0.003% not really worth it but I lend it out anyway as I'm lending my other coins.

It's not even per hour. The interest starts the second the loan is taken up and updates every 20-30 seconds. Even if the loan is returned in 5 minutes, there will already be interest.
Haiyaaa.... you didn't reply me earlier, whether NAVCOIN has the potential. I bought some to HODL but I think I will load up a bit more tonight.
Haha, supply and demand but it's a good rate. Some coin rates goes as low as 0.0001%!!! It might not last long but BTC is in demand so hopefully the rate stays. Dash has a good rate previously but not now. My dilemma now is whether I should channel more BTC out of cold storage later on. I don't hold much BTC now as most are channeled to altcoins. Haiz.... difficult...

I was actually considering the lending bot but it is 3rd party so I'm not comfortable with that in terms of security. No choice but to manually check on and off.

Going to do a guide on lending too!!! Oooo, I'm so excited!!
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Thanks for your reply. BTC lending rate is so good. Probably later when ETH sudden shot up and I sell ETH to hold BTC, then I can start lending then.

Thanks agian.
luotang
post Apr 19 2017, 11:19 AM

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Hi guys I am looking good at cryptocurrency to appreciate and becoming popular in 1-2 years to come. In addition to holding some ETH at the moment, I am thinking is there any cryptocurrency-business-related company (e.g., selling wallets) that are listed in NYSE/NASDAQ? Anybody has any idea about this? Planning to buy some stocks doing cryptocurrency stuff.

Cheers
luotang
post Apr 19 2017, 05:52 PM

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QUOTE(wengherng @ Apr 19 2017, 11:31 AM)
I might be wrong, but I think the two largest hardware wallet manufacturers at the moment, Ledger and SatoshiLabs, are still private companies, and not trading on the stock exchange.
So far, I have not heard of any cryptocurrency-related companies being listed on the stock exchange.
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Good I will pay attention on those 2 companies. Cheers.


QUOTE(WooTz @ Apr 19 2017, 03:21 PM)
Pay attention to Golem, Storj, IPFS filecoin and SWARM.

You're going to witness the mother of all computing and file storage rentals of the planet.

All computers worldwide will contribute, and I mean ALL of them, once they figure out they can  get free utilities by doing so.
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Wow that's very good information there. I will look for these companies
My thought is like splitting my fund into 2 portions, one putting in ETH and the other one put in stocks, hopefully will be good
luotang
post Apr 19 2017, 06:24 PM

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QUOTE(wengherng @ Apr 19 2017, 06:05 PM)
NAVcoin dropped 70% since last September to this February...... sad.gif
Only recently it is starting to see some positive trends.
Hopefully the trend continues on.
Why only ETH?
There are many cryptocurrency coins available, like BTC for example.
I would recommend diversifying a bit, and not put all your investments in one cryptocurrency only, no matter how good the future seems.
The majority of my crypto-nestegg is also in ETH, but I do keep quite a few other types as well.
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I just feel like keeping in ETH ohmy.gif
When I bought I already prepare to lose all the amount I bought (not much)
So putting in only one coin is a do or die move, if good then I will have good a pleasant return
luotang
post Apr 19 2017, 10:15 PM

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QUOTE(kmarc @ Apr 19 2017, 07:26 PM)
I see. Interesting.

I'm interested to know where you source your equipment. I guess it is easy for you to buy them at your location?  Do you mind just letting me know briefly what kind of setup is involved? Won't be simple I guess?  hmm.gif
Look at DCR, reaching your buy in price soon!  thumbup.gif

I think NAV will go up too, like all the altcoins that ISN'T BEING DELISTED!!!!  vmad.gif
ETH is good. It is highly probable you won't go wrong with this one. wink.gif
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Cool. Your words made me more firm on my choice
luotang
post Apr 19 2017, 11:26 PM

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QUOTE(kmarc @ Apr 19 2017, 10:19 PM)
Look at the front page, #2 post below the lending guide. There are links for ETH. You can see there are many projects built on ETH. wink.gif
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Wow the front page information is quite comprehensive! Really glad to see lowyat community contributes to this
ETH projects looks promising really, will keep on holding them rclxms.gif
luotang
post Apr 21 2017, 10:39 AM

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BTC is already USD1320+, feel so hard to buy more
luotang
post Apr 26 2017, 08:33 PM

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QUOTE(wengherng @ Apr 26 2017, 07:47 PM)
Even after so many hacking incidents and all exchanges have been much more careful and vigilant, there are still hack and theft cases happening even today.
Please be extra careful with your investments and always put your stash in hardware wallets.
Never put more than what is needed for trading, on online exchanges.

https://www.reddit.com/r/Bitcoin/comments/6..._lost_3831_btc/
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Made me worry of my coin. I have been kept it at Poloniex all these while, with 2 factor identification so I thought it will be safe?


luotang
post Apr 26 2017, 11:39 PM

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QUOTE(wengherng @ Apr 26 2017, 10:40 PM)
As long as your coins are stored on an online exchange connected to the internet, they are never really truly safe.
A system that is 99.9% secure just means that you have a 0.1% security risk.
It all depends on your risk appetite, really...... how comfortable you are leaving them on the exchange versus how much you loathe the trouble of transferring them to your hardware wallet.

And remember one important fact.
If you don't control the private keys to your coins, they are not really truly yours.
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so you have a hardware wallet as well?

QUOTE(WooTz @ Apr 26 2017, 10:44 PM)
the only time you're truly safe is you and only you having possessions of the private keys.

exchanges are like public toilets, get in, do your business, get out.
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so if I want to keep ETH I can buy the ledger as in your signature? So the ledger will contain whatever ETH I have transferred from Poloniex?
luotang
post Apr 27 2017, 04:53 PM

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QUOTE(wengherng @ Apr 27 2017, 12:30 AM)
Yes, of course I do.
But because back then I was only accumulating bitcoin, the hardware wallet that I bought could only support bitcoin (CoolWallet).
These days, I recommend you get the Ledger Nano S.
Hardware wallets don't actually store "coins", but rather they store the private keys to your coins.
Always remember, whoever holds the private keys, control and own the coins.
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QUOTE(WooTz @ Apr 27 2017, 08:19 AM)
Yes, the Ledger hardware wallet supports BTC, LTC, Zcash, ETH and all ERC20 based tokens via MyEtherWallet.

Just keep your PIN and 24 word seed secure and you can plug it on any virus infested computer and transact without worry.
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So is Ledger Nano S relatively matured by now? I mean, will there be any like Ledger 2.0 which has enhanced features and support more crypto be released soon?

I have check the price it came up to EUR77 including shipping, so is about 77*4.5 MYR ~ 350
gonna do this to protect my crypto
luotang
post Apr 27 2017, 09:19 PM

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QUOTE(WooTz @ Apr 27 2017, 05:13 PM)
There the Ledger blue, that comes with touchscreen and Bluetooth, but really it's better to K.I.S.S. (Keep it short and simple)

Crypto support depends on popularity, if another Bitcoin or Ether emerges I'm sure they'll be added for Nano S too.

Your house/car keys also not very fancy, only need to be practical. That goes for crypto security as well.
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QUOTE(kmarc @ Apr 27 2017, 05:42 PM)
The developers will usually add on other cryptocurrencies if it becomes popular. It is usually more of a software issue rather than hardware.

Ledger previously didn't support Ripple (XRP). However, XRP community requested support and finally the developers agreed to add it in. I think it is still in the process.

Trezor previously didn't support ETH but recently added support. Also didn't support litecoin natively on Trezor wallet app but recently it did. Again, still in the process to tweak the software. From what I heard, Trezor is coming out with Trezor 2.0.
Owh..... nice nice. Then again, every time buy so painful. What to do... just buy on the rise then......  moneyflies.gif  moneyflies.gif  moneyflies.gif
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Cheers for the information. You guys are really helpful. Appreciate that.

So I presume that if I have the hardware wallet, I can transfer the coin from exchange to hardware wallet, and if I wanted to trade, I can transfer back to exchange to sell?

Btw just top up some ETH @ 0.045 BTC. I wanted to top up sub 0.040 however my fresh fund just came in today cry.gif
Anyway I just bought and keep

This post has been edited by luotang: Apr 27 2017, 09:20 PM
luotang
post Apr 27 2017, 10:11 PM

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QUOTE(kmarc @ Apr 27 2017, 09:40 PM)
Very much hope so!!!  thumbup.gif
Most welcome.

I just found out that this website also sells ledger nano S. Looks like it is based in Singapore. Free delivery in Singapore. Registered mail $5 and courier $22 to Sibu. Not bad. wengherng
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Do you mean this guy selling?

https://forum.lowyat.net/index.php?showtopi...&hl=ledger+nano

It is 2015 though
luotang
post Apr 27 2017, 10:34 PM

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QUOTE(kmarc @ Apr 27 2017, 10:23 PM)
Oops, forgot to put the link : https://coinzin.com/
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Thanks. Turned out more or less the same as from the EU website
luotang
post Apr 28 2017, 03:06 PM

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QUOTE(WooTz @ Apr 28 2017, 01:16 PM)
Happiness is very noticeable, people already noticed how I kept grinning all day during work.

I told them my retirement is merely months away now, they thought I'm crazy haha.
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Wow you must be laughing your way to the banks.

One question tough, I know that in general capital gain has no tax in MY. But will the profit gain from buying and selling these crypto be taxable? (given that there is a possibility to really earn a few hundreds/thousands %)
luotang
post Apr 28 2017, 03:55 PM

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QUOTE(kmarc @ Apr 28 2017, 03:07 PM)
Crazy. Fullstop. But I think I'm crazier than you. biggrin.gif
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QUOTE(wengherng @ Apr 28 2017, 03:34 PM)
Currently, there is no legislation on cryptocurrency in Malaysia, same as most other countries in the world, as they cannot seem to decide definitively whether it falls under legal tender currency category, or asset category.
For the moment, you can think of it as somewhat like stocks, where you buy and trade. There are no taxes on profits from the stock market.
We're all a bunch of crazies here......
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Well then I should stay in mental hospital. I all in ETH rclxub.gif
luotang
post Apr 29 2017, 08:41 AM

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QUOTE(kmarc @ Apr 29 2017, 07:59 AM)
wengherng Can you kindly add this part to our guide, under "How to buy cryptocurrencies (bitcoins and altcoins) in Malaysia (using MYR)?". The last part after mentioning all the available exchanges. Thx!

Important : In order to get the best BTC price, it is recommended that you check out the prices on all 4 BTC/MYR exchanges. For today, Localbitcoins and Remitano prices are too high. Xbit Asia lower but the best price is at Luno. The only problem with Xbit and Luno is you need to login/sign up to see BTC market details and you need to transferred money to the exchange's bank account which will only be reflected in your account after they have processed it.
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Luno is great. I deposit money and usually they will show in my account in 15 mins
luotang
post Apr 29 2017, 09:49 PM

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Anybody looking to buy ledger nano S recently? There is a pack of 2 sold on ledger wallet. Can save some cost if the price and particularly shipping if you don't mind sharing.

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