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 Bitcoin and other Cryptocurrencies v2

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shankar_dass93
post May 9 2017, 08:59 PM

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Sorry for asking a noob question on bitcoins.

Was reading about it and decided to allocate a small sum of my funds into this.


Anyone has experience with using coinbase ?
shankar_dass93
post May 10 2017, 07:01 AM

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QUOTE(Enigmatic @ May 9 2017, 09:16 PM)
Coinbase does not service Malaysia. You might get feedback from guys here working in Singapore though.
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So bro, once again, apologies if my questions sounds dumb.

So in order for one to get bitcoins, its recommended to open up a polo account, buy alt coins and then how do i switch them to bitcoins ?
shankar_dass93
post May 10 2017, 09:18 AM

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QUOTE(kmarc @ May 10 2017, 07:39 AM)
Morning guys. Still a sea of red huh? Hope to see the green army soon.

Wow, litecoin is strong! Go go LTC!  thumbup.gif
Oh sorry, missed out your question.

Again, I didn't go into details about the interest. Will read more when the time is near.

Yes, every transfer has fees. Altcoins too. wink.gif
I only did level 1 and a half.  bruce.gif Meaning I sent my details and ID and let it get stuck there. Why? Security reasons, that my limit can't be increased until I send the picture of me with the ID. And nobody can increase my level as it is halfway done. Of course, disadvantage is I can't transfer more than USD 2,000 limit but I can live with that. smile.gif
Hi, do read the guide in the front page. It is all there. wink.gif
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Thanks kmarc


So I've just created an account with Poloniex
shankar_dass93
post May 10 2017, 12:02 PM

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Guys i need help again, may be seeing me frequently post here lol


So if i wish to buy LTC coins, and i have just set up an account with poloniex, what do i do next ?

got to buy a BTC from one of this sites is it ?
1) Localbitcoins
2) Remitano
3) Xbit Asia
4) Luno


This post has been edited by shankar_dass93: May 10 2017, 12:03 PM
shankar_dass93
post May 10 2017, 12:10 PM

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QUOTE(Memories_Fallen @ May 10 2017, 12:08 PM)

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so you buy from Luno then transfer it to polo ?
shankar_dass93
post May 10 2017, 03:02 PM

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QUOTE(wengherng @ May 10 2017, 12:59 PM)
Nobody can tell you that, unfortunately.
But consider it this way......if BTC were to reach USD 10k or more in future, would it matter so much whether you bought at USD 1700 vs USD 1500 now?
Really, it depends on how much confidence you have in the future of BTC.
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if it really reaches 10k, i would be the happiest guy on the planet lol. rclxm9.gif

Really hope its not another story of gold in which a few guys have been waiting for it to reach 10k/ounce
shankar_dass93
post May 10 2017, 03:03 PM

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am i allowed to transfer funds from an online wallet to a physical wallet and vice versa ?
shankar_dass93
post May 11 2017, 01:22 PM

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QUOTE(Davez89 @ May 11 2017, 11:56 AM)
[attachmentid=8805502]

Should I be worried?
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What hardware wallet did you buy ?

I just ordered myself a Ledger Nano S yesterday and due to low availability of stocks, my shippement would only be processed around the 19th May 2017
shankar_dass93
post May 11 2017, 05:17 PM

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QUOTE(max_cavalera @ May 11 2017, 04:20 PM)
Gila liao hitting 1900usd soon....

Who the hell keep pumpig the price up?

Confirm breach 2000usd by end of this month....

Feel bad those that sell to me rm5.5k for 1 bitcoin few weeks back
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luck you to buy it at 5.5k lol

which site did u get it from again ?
shankar_dass93
post May 11 2017, 09:58 PM

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QUOTE(blueblueoutofblue @ May 11 2017, 05:55 PM)
am learning their margin trade, lending..

so far is fun if we dont be greedy  bruce.gif

I can summarize for Poloniex :

For margin trade, you can take like a loan from other trader to buy bitcoins. depending on the loan interest offer, then your profit - interest - fee = total profit

loan interest rate you can set 0.00001% - 10%?

For lending, you offer your rate to anyone who want to lend your coin ( which is margin trade ) , % interest you set yourself.
There is a minimum you must lend, example bitcoin = 0.01unit , with minimum lending of 2 days to 60 days

i lend out 0.05 unit with 0.07999%  for 2 days .

Example :

Coin Rate          Amount    Duration Auto-renew Type    Date                        Fees
BTC 0.0799% 0.04941362 2 Days Off                Provided 2017-05-11 06:30:53 0.00000562 BTC
BTC 0.0699% 0.04550326 2 Days Off                Provided 2017-05-11 06:12:36 0.00000493 BTC

that's the example of FEES i earn tongue.gif not bad for a non miner XD

for further information below

Poloniex Margin trade or lending
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I have a question about lending my BTC's

Am i guaranteed to receive my BTC's back at the end of my set duration, lets say 1 week or is there a risk of the borrower defaulting ?



shankar_dass93
post May 11 2017, 10:59 PM

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QUOTE(kmarc @ May 11 2017, 10:50 PM)
Yeah, I lost count of everything as I hold so many coins. Just as long as they are increasing, I just couldn't be bothered counting.  biggrin.gif
Never used desktop wallets but I guess the private keys are kept on your computer which can be hacked. For hardware wallets, there's no way for hackers to hack into the hardware wallet to get your private keys.
I have asked this in Poloniex. They say it is not without risk but they have safeguards and it is unlikely that you won't get your BTC back. For one, the BTC you loan cannot be transferred out of Polo. Even if you loan 1 BTC and BTC crashed, it is still 1 BTC.
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Sweet, so you've been lending your bitcoins out i guess ?

Guess the safest way would not to opt to loan out everything that you have lol.

Ive been reading a lot on Bitcoin for the past 28hours and the only thing that i regret is not getting them earlier lol.

I remembered persuading my parents to dump in 2k USD into this last time and my mom started giving all sorts of excueses saying that it's a scam, BNM doesn't regulate it, isn't capital protected etc.

If they did dump in 2k before, I would be sitting behind a handsome pile of cash lol
shankar_dass93
post May 11 2017, 11:21 PM

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QUOTE(kmarc @ May 11 2017, 11:17 PM)
No problem with mine. Try refresh, logging off or closing the browser and restart?
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kmarc how long does it usually take to see my BTC's being reflected on Poloniex if i have transferred them from my uno wallet ?

A couple of hours ?
shankar_dass93
post May 11 2017, 11:40 PM

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QUOTE(kmarc @ May 11 2017, 11:26 PM)
It depends on how overloaded the blockchain is. Take a look at the unconfirmed transaction : https://blockchain.info/unconfirmed-transactions

130K unconfirmed transactions! That's pretty high.

Average confirmation time : https://blockchain.info/charts/avg-confirma...timespan=60days

Look at the graph which is in minutes. Maximum recently was almost 900 minutes!!!!  rclxub.gif

To track BTC's you can use these explorers:
http://btc.blockr.io/
https://www.blocktrail.com/BTC/address/18Fc...DG/transactions
https://blockchain.info/
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Sweet, that's a pretty long time there!


So a better way to fund my Poloniex accounts with BTC's would be to ask the seller to transfer them directly to my Polo's wallet right ?



shankar_dass93
post May 12 2017, 12:01 AM

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QUOTE(wengherng @ May 11 2017, 11:59 PM)
My personal experience was anything from 10 minutes to 9 days.
OK, the 9 days one was probably one of the most extreme ones.
Mostly I got confirmations within the hour, usually less than 30 minutes.

It is always advisable to minimise the number of transactions (both for saving time and saving transaction fees), so yes, it is better to ask the seller to transfer directly to your Polo account.
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Thanks for your reply!



shankar_dass93
post May 12 2017, 02:13 PM

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QUOTE(Davez89 @ May 12 2017, 01:33 PM)
finally got my ledger nano s today yeehaa
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sweet, easy to operate ? Cant wait for mine!
shankar_dass93
post May 12 2017, 08:28 PM

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Was just checking out the lending rates on Polo and gosh, the rates are definitely attractive. A daily rate of 0.1197% turns out to be Approximately 43%p.a.

Attached Image
shankar_dass93
post May 12 2017, 08:41 PM

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QUOTE(Ramjade @ May 12 2017, 08:38 PM)
Don't forget Bitcoin can crash by 500% too  tongue.gif
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Yeap, fully aware of the volatility of BTC's

Hey Ramjade, do you own any BTC's or ALTCOINS ?
shankar_dass93
post May 12 2017, 08:49 PM

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QUOTE(Ramjade @ May 12 2017, 08:43 PM)
Yes. I got USD5 worth of bitcoins. Use to click click everyday on fountains solving captcha and eventually earned USD5 after 1-2 months.  sad.gif
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You were mining BTC'S ?
shankar_dass93
post May 13 2017, 12:15 AM

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QUOTE(wiisg @ May 12 2017, 10:24 PM)
It's almost RM500 more expensive than the original price. Can we just call that robbery?  shakehead.gif
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Glad i wasn't the only one that realised it.

Well the problem here i guess is that we dont have enough sellers on the exchange.

Buyers> Sellers hence the increase in price.


I really need another source to get my BTCs at a price close to spot. Not going to pay a price that's highly inflated bruce.gif mad.gif bruce.gif
shankar_dass93
post May 13 2017, 10:05 PM

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check the troll box out, everyone is talking about getting out.

Gesh, any other better platforms ?

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