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> 1 Bitcoin equals 12047.03 Malaysian Ringgit, Monster Bull run continue...

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Subang Nuclear Reactor
post Jun 6 2017, 02:20 PM

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QUOTE(wodenus @ Jun 6 2017, 02:13 PM)
Yea can you sell like 1000 BTC easily?
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It's just like a commodity

As long as there are people willing to buy your coins, you will see cold hard cash within minutes

But if people decided to buy 0.25, and another one is buying 0.5coins

Then it might take a day to 2 for your btc to turn to cash
Subang Nuclear Reactor
post Jun 6 2017, 02:24 PM

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QUOTE(xeda @ Jun 6 2017, 02:21 PM)
I'd be wary in investing cold hard cash now in bitcoins as it seems that it's a very illiquid investment at the current buying/selling price - and your only source of profit is from capital appreciation - unlike stocks at the very least even if you hold you'll get dividends each year.

Only way forward if you'd wanna invest in bitcoin now is to mine your own coin - but this also involves actual hard cash since you'd need to pay bills and such.

It would be a different thing altogether if bitcoin is widely recognized as a global currency like USD and ha actual usage in real life (e.g - buying a bottle of water at my next door grocery shop). If that is the future of bitcoin then heck dump all your entire life savings in it.
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Yep

Bitcoin currently is a commodity rather than a currency

The price goes up because people believe the price will go up
In the end everyone is converting coins back to USD or EUROS for things

And currently USA and CN is trying to make payments easier than ever, these dedicated digital currency will go nowhere.

Why would I need bitcoin when I can pay for bills and my bowl of noodle using QR codes, and transaction can be done in China Yuan , secured and regulated
Subang Nuclear Reactor
post Jun 6 2017, 02:30 PM

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QUOTE(hjffgjng @ Jun 6 2017, 02:24 PM)
1 btc = 10000 myr

10 btc is 100k myr

if u dat rich,no need to bother lah,i bet riza aziz would just laugh at crypto
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100k myr is really not a lot

Do you know you can hold 100k of cash with just one hand

I've been thinking of venturing myself deeper into BTC but seriously its too much of a hassle and risk.




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Subang Nuclear Reactor
post Jun 6 2017, 02:32 PM

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QUOTE(xeda @ Jun 6 2017, 02:25 PM)
It is NOT like commodity.

Commodity is widely used in actual real life by almost all businesses, you get actual tangible benefit from the commodity itself - e.g, sugar as a commodity is traded in HUGE volumes because businesses NEEDS it as a raw material - people don't NEED bitcoins. Businesses don't NEED bitcoins. Well, not yet I guess.

And btw, commodity prices are mostly low - commodity is traded at high volume, bitcoin is the other way around, which poses a different set of risks altogether.
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But yeah how do you categorized it, it isn't currency anyway

And you can't say that it's precious metal like gold and silver, because gold and silver albeit limited, they are consumed in a lot of processes, mainly electronics or as catalysts

Maybe there is a new term to define bitcoin
Subang Nuclear Reactor
post Jun 6 2017, 02:52 PM

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QUOTE(hjffgjng @ Jun 6 2017, 02:32 PM)
yea

but bnm too busybody

good thing bout bitcoin,u r your own bank,no one can freeze your bitcoin,doesnt matter if the coin come from halal/illegal source
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so just as the saying goes

it's regulated currency vs non-regulated currency all over again.

we can do it freely right now just because it ain't regulated in malaysia. unlike in united states, you have to pay tax for bitcoin capital gain, unlike in china, you can only trade bitcoin personally and all financial institutions are prohibited from trading or advising bitcoin trades

i for once support regulating currency, so does more than half of the countries in this world

This post has been edited by Subang Nuclear Reactor: Jun 6 2017, 02:53 PM
Subang Nuclear Reactor
post Jun 6 2017, 03:11 PM

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QUOTE(hjffgjng @ Jun 6 2017, 02:55 PM)
but countries starting up to support bitcoin too

like japan

if japan could support decentralized,why not somebody else
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bitcoin is no banned in japan, but they arent treated as a currency, they are treated as an asset

in other worlds, buying something with bitcoin in japan is like the barter system

USA, the european union, and China are all finding ways to regulate bitcoins

there are researches going on at chinese universities regarding the blockchain

the EU members are having meetings trying to control cryptocurrency

all because of what you said, they couldn't, or hardly able track the transaction

This post has been edited by Subang Nuclear Reactor: Jun 6 2017, 03:12 PM
Subang Nuclear Reactor
post Jun 6 2017, 03:18 PM

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QUOTE(hjffgjng @ Jun 6 2017, 03:15 PM)
and pretty much everybody in bitcoin reject it

its the feature of bitcoin,why they all wanna make it another bank

well for now,at least japan siding wif em
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you're wrong

half of those, or more than half is in bitcoin just for the money, they make money, they convert it to regularized currency and spend it

there's less than one tenth of bitcoin holder aiming to use bitcoin like how it was projected to be used.

all in all, it's an investment, it isnt a currency
Subang Nuclear Reactor
post Jun 6 2017, 03:56 PM

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QUOTE(hjffgjng @ Jun 6 2017, 03:53 PM)
lol

where your long long point

bitcoin is godsent to venezula blackmarket...........wif hard cash ,they might not be so lucky,everhting restricted

wif bitcoin they can buy on the net

it just wasnt dawn on you that people could just donate that bitcoin to their citizen,who sympathy wif em
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with USD, they can also buy from the net

and we can also send euro to them, they can even buy nike with euro

why would i send bitcoin, and then they convert the bitcoin to euro and buy nike ?
Subang Nuclear Reactor
post Jun 6 2017, 03:59 PM

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QUOTE(hjffgjng @ Jun 6 2017, 03:57 PM)
how the fuck u gonna send usd there???

even tourist got robbed by their citizen
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dude can just create and paypal and i send to him

dude can just create an alipay or wechat account and i send to him

if he has internet to do transaction in bitcoin, he has internet to do transaction in any currency
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