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 Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

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Andrew Lim
post Sep 19 2022, 07:56 PM

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QUOTE(xenith @ Sep 19 2022, 02:35 PM)
Polkadot already years ahead of Eth's endless upgrade till 2025.
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Very different tech though. Polkadot relay chain is low level. You can't use Polkadot to build smart contacts or NFTs directly. You need Parachains and external RMRK like Kusama.
Andrew Lim
post Oct 4 2022, 02:20 AM

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QUOTE(skywardsword @ Oct 3 2022, 07:38 PM)
Today, I did something dangerous.

I accessed the ETHW wallet on metamask.

Did I just give up my keys without knowing shit about what I did?
sweat.gif
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Should be safe if you did not interact with any smart contracts.

You used the URLs on this page?
https://medium.com/@ETHW/tutorial-set-up-et...op-f72a3e7e090b
Andrew Lim
post Oct 7 2022, 02:08 AM

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Any email pretending to be from MetaMask is a scam.
They don't store email addresses so they can't email you.
Andrew Lim
post May 17 2023, 07:34 PM

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QUOTE(ipat88 @ May 17 2023, 06:13 PM)
IMO,
Because the appeal of crypto’s promise to reinvent money has reached its limit in a very niche audience.
TBH, no good reason to buy cryto anymore.
The true purpose cryto was created to served as digital currency,alternative form of payment. But now it become fun investment or gambling with no fixed value, no useful social purpose. Can u use crypto to buy things in supermarkets or Internet right now? U cant. Even tesla backtracked on accepting bitcoin as form of payment. Its so volatile. The way cryto work, the new investors paying out early investors because no actual cash flows are being produced. Sound familiar? Ponzi scheme.
Will Bitcoin ever rise again to its previous heights? Well i think so but be careful as this next rally might be major “bull trap” rather than a “bull run".

Diversified ur investment portfolio my friends, dont go all out on crypto. Cheers
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If Bitcoin or Ethereum were real ponzis, they would have died long ago.
Ponzis are centrally controlled scams, but Bitcoin and Ethereum are open standards that anybody in the world can participate, buy or stake in.
1 Bitcoin is still right now still worth around $26,000, which is more than the 2017 bullrun craze of $19,000.
It's not easy to buy good and services directly in Malaysia, but in Argentina and Venezuela, Bitcoin and crypto is more preferred compared to their local currencies.
People don't accept gold for normal day transactions also. You first sell your gold into MYR. Similarly, I would convert the Bitcoin into local MYR first.

Andrew Lim
post May 18 2023, 12:13 PM

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QUOTE(ipat88 @ May 18 2023, 11:13 AM)
If Bitcoin or Ethereum were real ponzis, they would have died long ago.

- it is an upgrade/improvement of traditional ponzi scheme. Scams are constantly evolving and becoming more and more sophisticated. Decentralized finance and blockchain are real, new technologies and has values and it will transform banking in the future but crypto tokens they are decentralized Ponzi schemes. Buying bitcoin is not an investment.  Anyone can create a cryptocurrency. The key to understanding the “real” value of Crypto is that it is a technology to transfer money. The real value of cryptocurrency is not its ability to make you rich, but in its ability to let you trade with other people securely, remotely, privately, anywhere in the world with certainty that everybody will get the result they want and nobody will have their “things” stolen.

in Argentina and Venezuela, Bitcoin and crypto is more preferred compared to their local currencies


- the adoption of cryptocurrencies in Argentina and venezuela is on the rise due to their country’s macroeconomic context. Economic downturn, with high inflation, a deflating currency and a shortage of US dollars to invest in. but people who are using crypto there are from the upper middle classes and the truth is there had still not been widespread adoption of cryptocurrency because many people in the country don't have the technical literacy needed to really use it

People don't accept gold for normal day transactions also. You first sell your gold into MYR. Similarly, I would convert the Bitcoin into local MYR first.

Gold is an asset which can never go to zero. Bitcoin is a cryptocurrency which is not backed by any asset.It has ZERO intrinsic value. The value of bitcoin can easily fluctuate south. A cryptocurrency’s value can change constantly and dramatically. There is always the possibility (remember TERRA LUNA) that a crypto currency’s value could fall to zero due to laws, regulation or corrupt management, whereas physical gold holds an intrinsic value.

Just my opinion. no hate. cheers mate
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Not all crypto tokens are ponzis. Bitcoin and Ethereum don't promise higher returns. Normal ponzis implode quickly because they use new investor funds to pay off old investor funds. Bitcoin and Ethereum don't promise anything of that sort. They're meant to be transfers or stores of values.

And it's not just a few people using crypto in Venezuela.

Or Argentina.

The intrinsic value of gold is its rarity and the intrinsic value of Bitcoin/Ethereum is that governments cannot eliminate them. They can officially ban it but people still trade with them because all you need is a private key and an internet connection.

Another intrinsic value of crypto is it provides anonymity. That's why Ukraine is asking for donations in crypto because it makes it harder for Russia to track who is donating funds and helping them.

This post has been edited by Andrew Lim: May 18 2023, 12:15 PM
Andrew Lim
post Oct 16 2023, 11:07 PM

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QUOTE(Kopistore @ Oct 16 2023, 09:09 AM)
This time Bitcoin ETF really coming
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Nope.
Andrew Lim
post Nov 1 2023, 10:33 AM

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In major ruling, Malaysian man wins RM697,000 from crypto firm Luno over unauthorised Bitcoin buys

QUOTE
Luno said it had on March 8, 2021 told Yew it had locked his Luno account for security purposes, adding that it had also on March 9, 2021 responded further to Yew by saying that the latter’s Luno wallet was accessed through his own email and password and no unusual sign-ins were detected; and that all the transactions were done through the Luno website and app from Yew’s mobile phone and each transaction was authorised through a text message sent to his mobile number.


Seems like his account and/or SIM card got compromised?

Anyway best to avoid storing big amounts of crypto on Luno if you're not trading.

This post has been edited by Andrew Lim: Nov 1 2023, 10:36 AM
Andrew Lim
post Nov 6 2023, 01:55 AM

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QUOTE(hbm90 @ Nov 5 2023, 02:30 PM)
I'm actually amazed most of you haven't got your eyes open on chainlink yet, even with all the news crumbs being thrown around. This actually has the potential to surpass even btc in terms of marketcap.

https://twitter.com/chainlink/status/172051...AVFnwv_o4g&s=19

https://twitter.com/MooseCryptos/status/172...rh7VmxAvWQ&s=19
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Most people here already know LINK since before 2017. Even when it was 5 times the current price it was nowhere near surpassing BTC in market cap.

And even if tomorrow the price goes up to $100 it still wouldn't surpass BTC's market cap. laugh.gif
Andrew Lim
post Nov 14 2023, 06:06 PM

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QUOTE(ljken @ Nov 14 2023, 08:25 AM)
Is it possible for someone to create a fake explorer? Found a project which is guaranteed a scam because the infos don’t add up but curious to know what happens if click Add to Metamask.
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QUOTE(gashout @ Nov 14 2023, 05:23 PM)
Can you explain more what you mean
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Do not add it to Metamask! Especially if you don't know if it's a smart contract.

And yes, very easy to make fake coin and explorer. Just display fake market cap in webpage or app.

This guy got scammed like that last year:
https://forum.lowyat.net/index.php?showtopi...ost&p=104994079
Andrew Lim
post Nov 15 2023, 12:00 AM

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QUOTE(ljken @ Nov 14 2023, 06:49 PM)
@Andrew Lim ah thanks for the info, I know not to press but wondering if there’s something like a wallet sandbox then can see what it does to the wallet to see how it works.
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1. Sometimes they can show fake Metamask window. If it ask for private key or 12 seed phrase - confirm phishing site showing fake Metamask.

2. Refer to below image. If it ever ask for more permissions than this, it's likely trying to ask you to use a smart contract. Look out for automate transactions which is the most dangerous permission. Don't allow unless you know the site is legit.

user posted image

3. There's no 100% way to be sure what a smart contract does creating a test account. Usually for legit contract you can check on Etherscan. If it's a scam contract often there will be a note.


Andrew Lim
post Dec 6 2023, 07:57 AM

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QUOTE(Pugbunny @ Dec 6 2023, 07:50 AM)
Trading now suspended

As communicated previously, trading on Bittrex Global was suspended as of 18:00 UTC today. Your client relationship with Bittrex Global has now been terminated and all activity on the platform – except the ability to withdraw – has been disabled.
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Never used them, but looks like they are another victim of the SEC, except they can't afford the fines like Binance.
Andrew Lim
post Dec 15 2023, 03:51 AM

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That's why 2 months ago when a few people say say ETF is coming soon, I said Nope:

QUOTE(Andrew Lim @ Oct 16 2023, 11:07 PM)
Nope.
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The SEC is a super conservative body.

And Biden is up for re-election next year, he's going to be very careful about new ETF introduced that could go wrong.
Andrew Lim
post Dec 29 2023, 04:51 PM

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QUOTE(Nutbeater69 @ Dec 29 2023, 01:57 PM)
Its a shit year for eth dude. Look at eth price in satoshi terms. Went from 0.07 btc to 0.05 btc. The USD price is misleading because of btc price rising
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Oh if we ignore USD then also a shit year for BTC compared to SOL
Andrew Lim
post Dec 29 2023, 07:57 PM

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QUOTE(Nutbeater69 @ Dec 29 2023, 07:54 PM)
How BTC has a shit year? It literally went up this year 😂

SOL had a better year than BTC no doubt.

But ETH do not have a good year. It’s very misleading looking at USD price.

But 2024 should be a recovery year for ETH.
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BTC went up compared to what? USD? I thought we ignoring USD
As you say it's misleading to look at USD price

This post has been edited by Andrew Lim: Dec 29 2023, 08:05 PM
Andrew Lim
post Dec 29 2023, 08:31 PM

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QUOTE(Nutbeater69 @ Dec 29 2023, 08:14 PM)
Most people would not know about this and only see USD pricing but Altcoin will always tied to BTC prices. Whenever BTC price rises, the altcoin price dip. Whenever BYC price dip, the altcoin price dip as well.

To measure the true strength of altcoin, it must be valued in satoshi terms. There’s a reason why there’s BTC/altcoin pair market.

Say for ETH, 0.07 BTC in early 2023 and now 0.05 BTC in end of 2023 but USD price increase. It only shows that ETH is lagging behind Bitcoin and if u will earn more if hold BTC in early 2023 than ETH. But most people SYOK when they saw their USD price goes up but not knowing that they actually down in investment in satoshi terms.

You might want to watch Benjamin Cowen in this. He explained really well on why altcoin shouldn’t based on USD price but satoshi pricing.
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So I'm right to say BTC had a shit year too since it lost to a lot of altcoins in terms of sats - since SOL, LINK, AVAX all out-performed it.

You will earn more if you held those altcoins instead of BTC in early 2023

But most people SYOK when they see BTC rise in terms of USD (even though barely 1.3x increase)
Andrew Lim
post Feb 29 2024, 12:41 PM

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My 2 worst-performing purchases are still Litecoin and Nano.

I bought 2 LTC at its peak of $300.
Andrew Lim
post Nov 23 2024, 10:57 AM

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QUOTE(mois @ Nov 23 2024, 08:25 AM)
XRP take only 2 weeks to reach ATH. Crazy. Accumulate 3 years, pump 2 weeks settle.
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XRP ATH was back in 2018 at $3.40
Andrew Lim
post Nov 23 2024, 11:56 AM

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QUOTE(mois @ Nov 23 2024, 11:28 AM)
My bad. My pc tradingview chart only until May 2018.
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I use CoinGecko to check ATH prices:
https://www.coingecko.com/en/highlights/all-time-high-crypto
Andrew Lim
post Dec 5 2024, 07:00 PM

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"No one in their right mind can say with confidence that bits and bytes that are backed up by virtually nothing is suddenly worth 3k. I mean come on. Bit and Bytes that are backed by nothing except for blind faith and perheps technology is suddenly worth 3k, 10k ,100k?"
- TheRealist, 2017

"The thing is, you are hoping that it will hit 40k because currently you are in the red. You see, this is the normal reaction of people who are heavily in the red. They hope for miracles."
- TheRealist, 2018

Bro TheRealist, how are you now?



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