Very nice.

Pot is really smoking some weed!

I did discuss the multiplier effect of bitcoin on altcoins. Take a look at post #4 in the front page. My opinion only.

Whatever it is, it's perfectly fine to stick to BTC and ETH.

I last sold a bit at 1516 so I won't sell unless it goes higher than that.

Hi,

Im total newbie in bitcoin.

What should be the correct " sequence " of conversion if i need send btc to US ? Like, step 1 what should i convert, step 2 what else...

Which converter should i based on ?

Because the US recipient just told me that "money has to be converted into USD "


Thanks in advance.

if u want to be simple, buy from localbitcoin malaysia

its simple as transfer money to him, then press confirm payment. seller will check and release btc to u.

it will be at localbitcoin, your wallet. then u transfer to wherever/your own wallet

Does anyone know what wallet can keep Siacoin? or you guys just leave it on the exchange?

the golden rule of a bull run.
enjoy the free money, know when to retreat and cash out.

i will only stick to those which is open to the chinese market, backed by corporations, and can government bypass capital control, anonymity
the rest is just for the LOL.

just like DogeCoin. WTH u want that for ??

Sorry for masuk campur suka2 . Just want to ask , what's the different between ANTMINER and our custom build for mining ? is it our custom build pc for mining better than ANTMINER setup?

antminer just for bitcoin.

other sifu can explain further

They have a sia wallet but I have not used it before. Mine still on exchange.

The problem is nobody knows. How far can this bull go? When will it burst? What if the bull runs for another 5 years? Even the stock market's cyclical 7 year dip didn't happen and i was waiting for it past 2-3 years! Lol. Yup, I'm going to enjoy this bullrun as long as the bull has legs to run. Just hope we can get out when the bubble burst which is usually too late.

Oh, sold off 90% of my Doge bought at 21 sats long time ago as I didn't see any potential in Doge. Now keeping the 10% due to nostalgia.

This post has been edited by kmarc: Jun 13 2017, 11:27 PM

Easiest way to check whether we still got legs or not for Ether.

The transaction and address growth data.

Mere 2.91 million address, with ATH 59000 daily address growth and ATH of 291,000 transactions

Hashrate also following steadily with price.

All healthy indicators.

More working product ICO and we're all good.

Oh, this one I need to depend on you as I don't monitor them.

I read somewhere that the possibility of a bubble will only happen when the big boys I.e fund managers and big insitution join in. At the moment, it looks like it is still small fries with a market cap that is pitiful compared to the amount of money investment out there. Was it hundreds or thousands of trillions?

This post has been edited by kmarc: Jun 13 2017, 11:46 PM

The classic indicators are Ethereum being so ubiquitous until taxi uncles and cleaners started buying ether for some dubious money game ICO, that's where you exit.

Calling bubble territory at less than 3 million addresses? Nah I'm not buying it.

Hey what puzzles me in the world of alt CC investments is that when you say retreat and cash out or commonly known as going short, is your "cash" BTC or fiat?

If its fiat : That's quite a troublesome thing to do here in Malaysia, no? Since I'll have to sell my altcoin for BTC then sell my BTC for MYR instead of direct altcoin to MYR.

And if its BTC : How is that true cashing out? As evident from yesterday's turpitudinous ups and downs, cashing out from a depreciating altcoin to a depreciating BTC isn't gonna help much..

Please point out any flaws in my logic. I'm a chicklet in the world of investing

So i'm really keen in setting up a hardware mining set as I've read too many bad reviews of cloud mining (Especially the part whereby the company terminates the contract if they find it being unprofitable for over 60days)


Tried googling the best hardware set up and came across this guy; The estimated cost to set up a system is around USD 3089.




http://www.coinminingrigs.com/how-to-build...gpu-mining-rig/


https://www.amazon.com/gp/cart/view.html/ref=nav_cart USD 3089




Headed over to lowyat just now and no one seems to have the required Graphics Cards and even the casing to place the 6 graphics card. Had a shop on the 3rd floor that said he should be able to get the casing by the end of next week. Quoted me roughly around 15k - to 17k to set up a decent mining set though the parts that he is using is totally different from the link that i had given above.

Cryptocurrencies – Is it a Ponzi scheme?

I had been spending the last couple of days breaking down Ponzi schemes by attributes, translating it to a mathematical model, in hopes of finding provable similarities with cryptocurrencies. After all, it looks like cryptocurrencies are fueled on the necessity of new purchases for price increases, hence the association of it in likeness with Ponzi schemes.

First of all, definition just for entirety’s sake: an “investment” generating returns for (older) investors using the revenue intake from new investors. Apart from fresh intake of funds from new investors, the “investment” may or may not have a business activity for revenue stream. Usually comes with an abnormally high promised return paid in a controlled manner over an agreed time period.

From this, we could make a very simple model of a Ponzi scheme as such, optimistically assuming there is a business activity providing a revenue stream to maintain the scheme for as long as possible:

Intake of new funds = Fr
Payout of funds = Fp
Time starting from 0 (t >= 0), so at any point of time we’d expect both intake and payout
Business revenue = Fb
Total liquidity = CL, where CL = Fr + Fb

From here we could already very quickly deduce if t(Fb) > t(Fp), then the business is making a profit hence sustainable and legitimate. If payouts from CL results in a negative t(CL - Fp) < 0, where Fb < Fp then this fully is a Ponzi scheme relying on new fund intake to survive.

From this model, if we could fit in the attributes of cryptocurrencies exchange-of-hands we could determine at what stage it would be a Ponzi scheme. However:

1. Intake of new funds. When new funds of a Ponzi scheme is being taken in, this adds to a pool of liquidity such that CL = Fr + Fb. On the other hand buy orders does not add to any pool and instead provides a difference which indicates the increase (or decrease) between previous price and new price.
2. Payout of funds. When a payout of a Ponzi scheme is initiated, this deducts on liquidity CL with Fp. Again, the same problem arises, sell orders does not add to any pool and this is derived as a difference instead.
3. Time is consistent between both models.
4. No liquidity of the same sense for cryptocurrencies – It’s a market supply-demand curve.

From here we can clearly make the differentiation that – As the attribute CL does not exist in a cryptocurrency market, it is not possible for it to fail the same way as a Ponzi scheme in which t(CL – Fp) < 0. There could be a huge negative difference between the previous and new price, but never to a point where the price is below 0. On the other hand price increases are fueled by speculative worth where the “greater fool theory” applies, so we could look objectively from this perspective to see if this could result in a crash/bubble, and what happens to the “last greatest fool”.

In summary, instead of showing attributes akin to a Ponzi scheme, cryptocurrencies show attributes closer to the stock market/penny stocks, driven by fundamentals (equivalent to investigating the industry, NAV, P/B of a company) and crowd speculations. I may expand more about bubbles and the greater fool theory in relation to the cryptocurrency market on a later date, but not now.

This post has been edited by Enigmatic: Jun 14 2017, 01:23 AM

Damn......hats off to you indeed!
You've managed to put a convincing argument with a mathematical model, what I have been trying to explain using mere words.

Start with 3 GPU
Casing, u can buy over mudah.my

GPU, choose Nvidia, 8g, OC model. Undervolt it for better performance / stability
Best to get 1070GTX.


Watt usages is 450w, u can buy CORSAIR 1000 W for future expention.

The Antminer (current models the S7, S9 and R4) are purpose-built ASIC (Application Specific Integrated Circuit) computers for the only purpose of Bitcoin mining.

It cannot do any other task. It is programmed to mine Bitcoins using the SHA-256 algorithm.

All you need to set it up is to key in your mining pool and your Bitcoin wallet address.

It is much more efficient (hashrate/power consumption) than your custom mining rig that utilizes GPUs.

I believe one of the forum member here is looking to sell his Antminer S7.

Might as well just buy the coins directly.

You buy that machine RM 15k, it's going to take quite a while before you even get good returns.

At 15k - how many GPU? 6x GTX 1070?

Even with 180 Mh/s - you can get 42 USD today but the earnings drop every day, you'll probably get less than RM 10,000 after 3 months.

Mind you also that 6x GTX 1070 draws more power than a 1HP aircond.

Me too. I still think we are still at the infancy of cryptocurrencies and this bull has much legs to run.

Lowyat doesn't have the necessary equipment? Incredible. Imaging poor me in Sibu.....

If I were to build a rig, I probably DIY my own casing.

I'm not qualified to appraise your write up but I think it is excellent nonetheless!

I have always akin cryptocurrencies to be like the stock market but to me, it is not driven by fundamentals per se, well maybe only for ETH. I can't think of the correct description, whether it is speculation or not, but I'm thinking of crypto investment as investing in a startup company yet to show it's full potential. You know, something like having the opportunity for average people to invest in Facebook or Google when it was just starting. By the time they go IPO, it is already too late of us average people. Of course, which cryptos can become successful is anybody's guess. Maybe somebody can better describe what I'm trying to say.... still very early in the morning....

Do you want me to add this to the guide? I can put it together with the "bubble" topic.

This post has been edited by kmarc: Jun 14 2017, 06:52 AM