Guide to Investing in Cryptocurrencies in Malaysia
A friendly warning before you proceed If you're new to cryptocurrencies, then welcome to the world of cryptocurrencies!!! Before you proceed further, if your intention is to invest in cryptocurrencies, please be informed that cryptocurrencies are VERY high-risk high-return investments. If you have the money, you can earn a lot but you can also lose all and CRASH & BURN! Just as with any other conventional investment vehicle, you need to do your own research and make up your own strategy including the important exit strategy i.e. when to cut your losses.
In general, for risk-averse conservative investors, it is advisable to allocate not more than 10% of your portfolio to high-risk instruments such as cryptocurrencies.
Enter AT YOUR OWN RISK and if you lose your money, it is NOBODY's fault but yours!
You have been warned.
TABLE OF CONTENTS
Post #2 1) What are cryptocurrencies? 2) How to buy cryptocurrencies (bitcoins) in Malaysia (using MYR)? 3) How to buy altcoins? 4) Where should I keep my BTC and altcoins? 5) Sending bitcoins/altcoins to exchanges/addresses and wallets 6) SPECIAL WARNING on cryptocurrency addresses 7) Incurred fees 8) What is the current price of BTC or altcoins?
Post #3 1) Important advices and tips for cryptocurrencies
Post #4 1) Why you should consider getting some good altcoins
Cryptocurrencies are the digital media of exchange which use cryptography and shared transaction ledgers to create a secure, anonymous, traceable and potentially stable monetary system. Cryptocurrencies take their name from their use of cryptography. Cryptography is the study of the methods of encrypting information, primarily with the intention of sending a message securely and privately but also for tasks such as data security and authentication. Crypto, the prefix in both words, comes from the Greek word kruptos, which means “secret.” Cryptocurrencies incorporate many of the technologies and theories developed by cryptographers in order to create a digital money exchange system that is resistant to both censorship and fraud. In the two decades prior to 2008, there had been several attempts at creating a decentralized currency that would rely on cryptographic protocols and distributed networks. It is only with the launching of Bitcoin, however, that the idea has really taken root and started to attract multiple followers all over the globe. Bitcoin remains the most popular cryptocurrency, but there are now virtually thousands of cryptocurrencies with various levels of popularity, value and originality. Cryptocurrencies other than Bitcoin are often referred to as “altcoins.” While there are many altcoins that are simple clones on the Bitcoin system, the most successful ones tend to have a unique hook or advantage that Bitcoin either can't or chooses not to provide. The best-known examples of popular altcoins include Ripple, Litecoin and Dogecoin. (source taken from Cointelegraph)
How to buy and sell cryptocurrencies (bitcoins and altcoins) in Malaysia (using MYR)?
Note : This guide does not cover obtaining cryptocurrencies through mining.
In Malaysia, using MYR, there are limited options to buying and selling bitcoins (BTC). Unfortunately, at the moment, it is only possible to buy and sell BTC and ETH directly with MYR; all other cryptocurrencies can only be bought and sold by converting through either BTC or ETH first.
You can buy and sell bitcoins through these platforms (click to go to the website): 1) Localbitcoins 2) Remitano 3) Luno
Important : Do note that due to the lower liquidity in Malaysia, cryptocurrency prices on these websites are often a few percentages higher compared to the average global prices. But you can sometimes get a good price if the seller is desperate to sell. In order to get the best BTC or ETH price, it is recommended that you check out the prices on all the exchanges mentioned above. For example, on 29th April 2017, Localbitcoins and Remitano prices are higher for BTC, but the best BTC buying price was at Luno. The only problem with Luno is that you need to login/sign up to see market details, and before you can buy any coins, you need to transfer money to the exchange's bank account first, which will only be reflected in your exchange account after they have processed it. Also, VERY IMPORTANTLY, whichever website you use to buy or trade cryptocurrencies, it is of utmost importance to activate 2-factor authentication (2FA) for better security.
Localbitcoins - Peer-to-peer exchange (P2P) where the website serves as a platform for you to deal directly with a seller (or buyer) - Since you are dealing with a stranger, it is very important to : ----- a) Deal with verified trader who has very good reputation/feedbacks and has done many deals. You can check their profile by clicking on their ID. ----- b) Ensure they are online ----- c) Read the traders terms & conditions before you trade ----- c) Ensure you can do instant bank transfer especially for different banks. If possible, it is preferable to use the same bank to avoid delays. - the good thing about Localbitcoins is that you can send messages (and pictures if needed) during your trade. Say you want to buy 1.0 BTC, you click the "Buy" button, indicate the amount you want to buy, and type the message. I usually type something like "Wanna buy BTC. Can proceed?" and wait for them to respond. - once you have transferred the money, you have to click on the "I have paid the seller" button. The seller will be automatically notified and will release the BTC when he confirms the money is in his bank account. You must NEVER accidentally press the "Cancel trade" button when you have already transferred the money or you will lose your hard-earned cash!!! The "Cancel trade" button is only used when you really want to cancel the trade and have not transferred any money. - for safety purposes, once you initiate a trade, the BTC is kept in escrow (kept by the website) until the trade is complete. In the event that there are problems with the trade, the BTC will be held until the issue is resolved. - your BTC is kept in the websites BTC wallet
Remitano - P2P exchange that supports both BTC and ETH - operates similarly to Localbitcoins except you can't communicate with the seller - your BTC is also kept in the website's BTC wallet.
Luno - Online cryptocurrency exchange, supporting several cryptocurrencies like BTC, ETH, XRP and LTC. - LUNO has been gaining popularity in recent months as they are able to process fiat deposits even on weekends. If you deposit MYR using Instant Interbank Transfer from Maybank (and have filled in all the fields correctly), you should typically see your LUNO account credited within 15 - 30 minutes. - The popularity of LUNO also directly results in a much higher liquidity, and subsequently there is a smaller buy/sell spread.
How to buy and sell altcoins?
As previously mentioned, at the moment, except for a few select cryptocurrencies like ETH, XRP and LTC, there are limited ways to buy and sell altcoins using MYR. You have to buy BTC/ETH first (XRP and LTC have limited pairs with other altcoins) and send it to an exchange that can convert it to altcoins, and when selling, you need to trade your altcoins into BTC or ETH first, the send to the local exchange and sell it. There are many exchanges available. Take a look at this link : https://www.cryptocompare.com/coins/btc/markets/USD You can use any exchange but different exchanges have different altcoins. Some unique ones worth mentioning are as below (click to go to the website):
In general, you would want to keep your coins out of reach of hackers and the best way to do that is to keep it offline i.e. your coins are not connected to the internet. A hardware wallet is a very good option. NEVER keep any significant amount of cryptocurrencies in online exchanges, except those that you plan to use for trading.
Currently, there are two hardware wallets that are the most popular: 1) Trezor - https://shop.trezor.io/ - supports BTC, ETH, ETC, LTC, ZCash, Dogecoin, Dash, Namecoin and Testnet; similar to the Ledger Nano S, it also supports all other ERC20 tokens via MyEtherWallet.
2) Ledger Nano S - https://www.ledgerwallet.com/products/ledger-nano-s - natively supports BTC, ETH, ETC, LTC, XRP, ZCash, NEO, Dogecoin, Dash and Stratis, with more being added every now and then; also supports every other ERC20-type token via the use of online platforms like MyEtherWallet - Click here for more details
The only problem is that it is quite difficult to get these wallets locally as cryptocurrencies are still not popular in Malaysia. It may be easier in future when it becomes more popular here.
Sending bitcoins/altcoins to exchanges/addresses and wallets
There are a few things you have to keep in mind when you transfer cryptocurrencies: 1) It is not instantaneous. It may take a few minutes to a few hours! - take a look at BTC's confirmation times : https://blockchain.info/charts/avg-confirmation-time - there's a whole lot of issues on this but it is hoped that the long confirmation time will be resolved soon.
2) Ensure the address is correct - This is EXTREMELY important. If you send to the wrong address, you WILL lose the coins! Refer to the next point for further elaboration.
3) Ensure the address is correct for the type of coin - Also very important. You CANNOT send BTC to an ETH address. Cryptocurrency addresses are not compatible with each other.
4) There's a transfer fee for all transfers, which depending on network congestion, may not be insignificant. Always check the gas fees before transacting.
5) You can always track your transfer. Just enter your receiving address into the link and you will be able to see the status of the transfer : https://blockchain.info/
SPECIAL WARNING on cryptocurrency addresses
A lot of people have been confused by the long and confusing addresses when sending or receiving coins, so it is worth to take a few minutes to understand the concept behind these addresses. Cryptocurrency addresses are derived from a mathematical function, and are always paired with a private key. The private key is the sole identifier of ownership of the coins within that address, so if you lose your private keys, you effectively lose your coins (i.e. you can see it on the blockchain, but you can never access those funds again). Also, the very nature of a decentralised distributed ledger protocol ensures that all transactions are irrevocable and irreversible, so it is EXTREMELY important that you NEVER send your coins to a wrong address by accident.
Bitcoin addresses use a Base-58 format, which is alphanumeric but without the characters that would be confusing to normal people (i.e. 0, O, I and l). A normal bitcoin address would look something like this: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2 and the length may vary anywhere from 26 - 35 characters. It is absolutely imperative that bitcoin addresses are entered EXACTLY as they appear, including both capital and small letters, because bitcoin addresses are check-summed and have the version-number built in, so even a single wrong character will result in a completely different address.
For Ethereum, often times the addresses will be presented in the "raw" format, which is pure hexadecimal form (i.e. includes all numbers and all alphabets, for example 0x4cbe58c50480......). In this form, users will sometimes encounter addresses with some capital letters, and sometimes addresses with only small letters. It should be noted that both types of addresses (with or without capital letters) are valid, and can be used without any concerns, because Ethereum addresses are essentially not case-sensitive (the capital letters are a feature for some compatible wallet software to use the check-sum feature, so if some addresses have no capital letters, the software will just ignore the check-sum feature). It also means that if your address originally had some capital letters, but was later changed to small letters only (e.g. when transferring to a paper wallet), do not worry, as both addresses are exactly the same and both can be used.
However, as good practice, it is advisable to just put the addresses (for any coins) exactly as they are without any modifications, and it is definitely prudent to double and even triple check your recipient address prior to any transaction, to avoid any unfortunate mishaps and lost coins.
Incurred fees
Keep in mind that, just like any other investment vehicle, you will be charged some fees when you make a transaction or transfer, depending on the platform you use. Here's how it generally work: 1) Buying BTC - generally free 2) Selling BTC - free or fees charged by platform 3) Sending BTC from one address to another - network transfer fees 4) On exchanges, fees vary.
Examples of fees being charged: - Transfer from Airbitz mobile app (in phone) to hardware wallet twice - 0.000812 & 0.00045 BTC. ---- If BTC was USD 1000/BTC, that would mean a transfer fee of USD 0.812 & USD 0.45. Do note the difference of fees is also affected by the price of BTC at that time. - Transfer from localbitcoins to Poloniex - Transfer from Remitano to Poloniex - buy altcoins from poloniex (direct buy) - buy altcoins from poloniex (bidding)
What is the current price of BTC or altcoins?
There are a lot of ways to check the prices. Coinmarketcap.com is one of the more popular websites. Another popular one is Cryptowatch. Cryptocompare.com is also one of the very popular sites, where you can see:
1) ALWAYS activate the 2FA security feature (2 factor authentication) - most exchanges provide 2FA security feature - it is very important to use 2FA. Hackers can easily gain access to your username and password but if you have 2FA enable, it makes it virtually impossible to hack your account unless they get hold of the 2FA code.
2) Cryptocurrencies are VERY HIGH RISK investments - You can get 1000% in a short time but you can also lose 1000% very fast - Only investment the amount you are willing to lose. Please do not gamble with your life-savings by putting everything into cryptocurrencies. Yes, you might be filthy rich but you might also become bankrupt! - If you cannot stand losing 20%, 30% or even 100%, cryptocurrencies is not for you. Do look at other investment instruments - For safe investors, it is advisable to only allocate 10% of your total investments to high-risk instruments like cryptocurrencies
3) Decision to buy or sell is yours and yours alone - Do not blame others for your actions - There will be a lot of rumours and chatter floating around so you have to decide yourself and take whatever action you think is necessary
4) Study and do research - It is important to know what you are getting into - Read on the coins you are interested in and judge for yourself whether you want to invest in it - There are links above on cryptocurrency news. You can also google for more information.
5) Have a proper strategy and do not trade with emotions - It is imperative that you have a proper strategy. DO NOT buy cryptocurrencies blindly - Your strategy can change as you go along but it is important to stick to it - Do not trade with emotions. - Have a cut-off level where you might want to sell off your coins if it is making huge losses. However, for good coins, they will usually recover after a drop. - Don't fall in love with a coin and hold it even if there are bad news on the coin
6) Don't keep too much money on exchanges - There are many instances where exchanges were hacked and investors' money were lost - Only keep the amount you want to trade on exchanges. Transfer out the rest, preferably to a hardware wallet. 7) Ensure you know how cryptocurrency wallet works - Refer post #10 on "Cryptocurrency wallet FAQs"
8) Cryptocurrency trading runs 24/7, you're body does not!!! - Do have enough sleep. Cryptos will still be there when you wake up.
This post has been edited by kmarc: Jul 23 2017, 09:26 AM
Why you should consider getting some good altcoins
I want to discuss on the multiplier effect of bitcoin and why you should also get some good altcoins.
Before that, here are some advertisements..... I mean disclaimers. I am only 3+ months in cryptocurrency and I have no TA or FA skills. However, I have super NA skills. If you don't know the meaning, in stocks, TA is technical analysis where you analyze charts to make smart trades. FA is fundamental analysis. NA is .... noob analysis. I am not in the financial sector and am not a pro-trader. Just a normal guy and the following is only my opinion. You should do your own research and buy the coins which you think is good. Lose money don't blame me!
In terms of investing in cryptocurrencies, these are the coins you must consider: 1) Bitcoin - this is a no brainer. From the trends, it looks like it will go up more, until bad news comes along 2) ETH - world wide web 3.0. It has great potential and will probably go to great heights too
Now here comes the interesting thing. Besides investing in just bitcoin and ETH, you should consider putting a percentage of coins in other good altcoins that is paired to BTC. Pairing to BTC means that the coin doesn't have a fiat value by itself. It's value is paired against BTC and is expressed in a ratio. For example, if ETH/BTC is 0.1, it means that ETH has a value of 0.1 compared to BTC (i.e. 10% of BTC's value). Again, I'm may be seen as bias as most of my funds are in altcoins. I only have 0.5BTC in my hardware wallet.
Anyway, the reason I recommended good altcoins is as follows:
1) Diversify you investment. I guess this applies to any investments in general 2) Some altcoins can go ballistics with thousands of percentage gains! 3) Most altcoins are paired to BTC, resulting in rise of BTC actually multiplying the effect of the rise in altcoins. This is what I want to concentrate on.
Say bitcoin is at USD 1000 and an altcoin is altcoin/BTC 0.010 (face value of USD 10). Now, say BTC rises 10% to 1100 and altcoin/BTC doesn't change at 0.010 (zero % increase). Because the altcoin is paired to BTC, the value of altcoin has also increased! Now it is USD 11! Now in the same scenario, if the altcoin ratio increased 10% (i.e. 0.011) and BTC increases 10%, the actual value is multiplied by BTC's increased i.e. 0.011 x USD 1100 = USD 12.1. (1.1 x 1.1 = 1.21)
Here's a clearer picture:
BTC same, altcoin 0.010 = altcoin value USD 10 (1.0 x 1.0 = 1.0) BTC increase 10%, altcoin 0.010 = altcoin value USD 11 (1.1 x 1.0 = 1.1) BTC increase 10%, altcoin increase 10% = altcoin value 12.1 (1.1 x 1.1=1.21)
As you can see, if both BTC and altcoins rises, the gain from holding altcoins is much greater than holding BTC alone! Even if BTC rises and the altcoin drops, the value might not change much depend on how much the rise is against the drop.
Another real-life example is my own holdings, say CLAMS. I first bought clams at 74000 sats on 13/3/2017. At that time BTC was around around USD 1200. Now clams is about 220000 sats. In terms of gains, my clams would have gained roughly 297%. However, note that BTC is now roughly USD 2500. So:
Initial buy, say 100 coins clams: 100 x 0.00074 x USD 1200 = USD 88.8 Profits if BTC is USD 1200 now: 100 x 0.00220 x USD 1200 = USD 264 (297% gain)
Now here comes the great thing, BTC has gain 208%! (USD 2500/1200 x 100%) So, my 100 clams is worth : 100 x 0.00220 x USD 2500 = USD 550 (619% gain!)(2.97 x 2.08 = 6.19)
So if were to hold only BTC, I would have gain a good 208%. Not bad. However, because I hold clams that is paired with BTC, my gains is actually 619% instead of just 208% for BTC or 297% for unpaired clams!!!
Of course, the above only holds true if the trend of the past 3 months continues. Meaning: 1) BTC is still slowly rising 2) BTC sudden rise leads to a sea of discounted coins to pickup! 3) Once BTC stabilize, altcoins recovers or even gain much more. 4) In most instances, altcoins gains outnumber altcoin loss in terms of percentage and number of coins (i.e. more green coins most of the time and higher percentage gains rather than loss (e.g. 50% gain but only 30% loss)
Do note that this multiplier works both ways, meaning if BTC were to drop together with altcoins, BTC will multiply the effect of altcoins drop.
I'm not exactly sure what would happen if there were sudden bad BTC news as I have not gone through a "Mt Gox" scenario.Due to this noob observation, I am of the opinion that to get greater gains, one should consider some good altcoins. For newcomers, be patient and wait for good discounts.
Again, this is just my observation and I do not know what will happen in the future. Invest safely and hope everybody makes money from cryptocurrencies!
This post has been edited by kmarc: Jun 10 2017, 08:56 AM
Malaysia's government stand on cryptocurrencies is still very vague. There's no law regarding this and investors are unsure what type of tax is involved.
The Bitcoin is not recognised as legal tender in Malaysia.The Central Bank does not regulate the operations of Bitcoin.The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.
In Malaysia, a major drawback to bitcoin adoption is the lack of regulation surrounding digital currencies. Nearly 90 percent of investors said they would buy more bitcoins if the government passed some sort of laws around it, indicating that “regulation, when it arrives, will be a major boost for bitcoin and ensure that bitcoin trading reaches a new high,” said Pattnaik.
KUALA LUMPUR: Bank Negara Malaysia (BNM) will issue guidelines on cryptocurrencies by the end of the year.
BNM Governor Tan Sri Muhammad Ibrahim said on Tuesday he was looking at this matter and the details as the new form of currency had attracted a lot of attention around the globe.
"We hope that before end of year to come out with guidelines on cryptocurrency in particular those relating to anti money laundering and terrorist financing. We want to ensure that there are clear guidelines for those who want to participate in this sector," he said.
Muhammad was speaking on the sidelines of the Global Symposium on Development Financial Institutions here at Sasana Kijang.
On the ringgit, he said the local unit should always be reflective of Malaysia's economic strength and fundamentals.
"What is important is not so much the level of the ringgit but what is more important is that the ringgit must reflect the economic strength of Malaysia. If economic growth and inflation is under control then the exchange rates should reflect that," Muhammad said.
This post has been edited by kmarc: Sep 19 2017, 07:50 PM
Grow your money on Poloniex - How to lend out your coins
Before we begin the tutorial on lending, the general rule of keeping your coins safe still applies. However, the disadvantage of keeping it in cold storage is that it doesn't generate money besides price appreciation. You can consider another option which is to lend some of your coins to traders on Poloniex WHILE enjoying price appreciation if any. Do note that you need to have the coins on your Poloniex's account to lend them out.
Lending rates Let's start with this as lending rates are the main factor why one would want to keep their coins on Poloniex and lend them out.
Lending rates depends on supply and demand. It can fluctuate and swing widely. It can be very low but it can also be very high. Even higher than the rates of loan sharks!
Here are some of the spot rates at the moment:
Coin
Rates
Bticoin
0.1595%
BTS
0.0001%
CLAM
1.2997%
DASH
0.0587%
ETH
0.0029%
XRP
0.0096%
As you can see from the table above, rates also vary widely between coins. Dash previously had a rate of 0.88% when the demand was high. Clam had low rates previously but because it is in demand now, it is at super loan shark rates!
Huh, the rates are so LOW???!!!??!? Before you stomp away upset, do note that the rates are quoted PER DAY (24 hours) and not per year!! For example, if you loan out CLAM for 1%, you will get 1% of clams after 24 hours! In the unlikely event that you can lend out for a whole year, the returns will be 365 days x 1% = 365% return!!!! However, as you will see later, it is almost impossible to loan out for long periods unless you are very very VERY lucky.
The interest generated are the same coins you loaned out. If you loan out CLAMS, you will get CLAMS for interest.
Another thing to know is that the interest starts calculating the moment the loan is taken up. The site updates the active loan every 20-30 seconds and you can see interest being generated. So even if your loan was taken up for only 5 minutes, you will already get some interest although it would be negligible.
Note : I guess it goes without saying that you would need a significant amount of coins and a good lending rate to make lending worthwhile. From observation, it seems bitcoin has a consistent demand with relatively good rates. You just have to calculate the returns for yourself to see whether it is worth your while or not.
Loan duration
Ok, here comes the reason why you won't be getting rich by getting a 365% return.
When you offer your loan, you will need to specify the rate, amount and duration. Default duration is 2 days and the range is 2 - 60 days.
If you lent out for 2 days and the loan is taken up, it doesn't mean that it will be loaned out for 2 days. It can sometimes be returned in a few hours or even a few seconds! This is the main disadvantage of lending, where you need to manually check to see whether your loan is running.
There is a lending bot that can automatically set up loans for you but it is 3rd-party where you would have to give it access to Poloniex to run the loans. I don't recommend it so this guide won't cover lending bots.
Lending risk As with any loan, there are risk to lending. You can't be going about spraying red paint when your loan is not returned.
I'm not entirely sure what the risks are or how high the risk is. I have asked this in Poloniex and they say that the risk is minimal because they have certain safeguards. For one, the coins you loaned out cannot be transferred out of Poloniex. Even if you loaned out 1 BTC and the price of BTC crashes, it is still one BTC that will be returned to you!
So, lend at your own risk and don't throw red paint at my house if something happens!
Poloniex lending facility
Ok, let's get down to actual lending out your coins. I only have experience with Poloniex so we will only cover Poloniex.
On Poloniex, you'll notice 3 sections/tabs - Exchange, Margin and Lending.
Click on the Lending tab to go to the lending page.
A word of advice : Don't ever go to the margin tab. Very risky to play margin trades.
This is what you will see on the lending page.
1) My Balances - This is where you can view your balances across all 3 facilities - Exchange, Margin and lending - It only shows the available amount of coins. If you have open orders or coins under loan, it will not be shown in the total. - You can also see the type of coins you can loan out. At the moment, only 12 coins can be loaned out. - Important : From here, you need to click on the coin you want to loan out. Once you select the coin, you can then set your rate and amount.
2) Quick transfer - This is a quick feature to transfer your coins between the 3 facilities - In order for you to loan out your coins, you have to first transfer the coins from Exchange (that's where your coins probably are at the start) - If you don't transfer any coins to lending, you won't be able to loan out anything. - Likewise, if you finish lending and want to sell off the coins, you would have to transfer them from lending back to exchange
3) Loan - This is where you offer your loan - You have to enter the rate, amount and duration of loan - "Auto-renew" is if you want the loan to be listed again once the loan is given back. It is actually not a useful feature as loan rates seldom stay at the same rate for long. - Once you have set your loan parameters, you can click the "Offer loan" button and it will be displayed in the "Loan Offers" table.
4) Loan offers - This is where all loans are being offered - If you want your loans to be taken up fast, you would have to set a lower rate. Basically competing with each other to loan out the coins.
5) Loan demands - This is where all loans are requested - If you don't want to wait, you can just offer at the requested rate and it will straight away match - Loan demand rates are usually much much lower then ongoing rates
6) My open loan offers - You can see your open loans here i.e. loans that you have offered by not yet loan out
7) My active loans - Here's where you can see the loans that are taken up - If you see the first line, I have loaned out XRP at a rate of 0.0097% with an amount of 2221.2508. Duration is 2 days with auto-renew turned on. Up to that time, the interest is 0.00034912 XRP.
That's it! You are now ready to put up your loan!
Loan history/records This is how you can see your loan history.
Under "Orders" tab, select "My trade history & Analysis".
This will bring you to the following page.
From here, you have two options (as indicated in the picture): 1) Download the excel file containing all your loan records - easier to use this feature as you can sort out your loans and sum it up in excel
2) Show your "Loan earnings" - Will show you all your loans in a table - This is not easy to see as you can't sort it out. I already have 29 pages of loan history!!! - The easier way is to select the coin you want to analyse then click the analyze button.
Take a look at my analyzed loan earnings of CLAMS. It shows that I have earned 49.7 CLAMS with fees in total. Fees are 15% so you can roughly calculate your net profit by subtracting 15% from the total.
Note : This is the place where you can see your trade history too.
Lastly, do remember that lending is not without risk but I think the risk is negligible. Again, if you lose your money, don't blame me!
Happy lending like the loan shark that you are!!!!
This post has been edited by kmarc: Jun 10 2017, 09:23 AM
Here's a list of basic terms that you should know when you jump into cryptocurrencies. At the bottom, there are references you can check if you need more info. Alternatively, google is your friend you shouldn't forget.
Altcoin - Alternative coins which means other cryptocurrencies besides bitcoin.
FOMO - Fear Of Missing Out
FUD - Fear, Uncertainty and Doubt
HODL - Hold on for dear life
ATH - All time high (refers to cryptos reaching new highs)
Note : These are my opinion only. Unfortunately, most of these coins have gone up a lot so if you're still interested in the coins, you have to really do your research and think seriously before deciding.
Ethereum
Refer to WooTz's guide on ethereum, post #11. He's the expert in ETH and you can ask him if you have any questions.
Cryptocurrencies - Is it a big bubble ready to burst?
I have always wondered why bitcoin or any altcoin should have a rising value. Why can't bitcoin be just USD 10 or 20 or 100? Why does it need to increase in price where some even predict USD 100k a coin!!??!! The most famous true story is the guy who bought a pizza with 10,000 bitcoins. Now one bitcoin is worth around USD 2.8k and soon, you'll probably use one bitcoin to buy 10,000 pizza.
I guess the same can be said about gold, diamonds or any asset deemed valuable. To me, it is human nature to put a value on something which increases in price when demand outweighs supply.
Whatever the case may be, it is possible that we're in the biggest bullrun in the history of mankind or we're in the biggest bubble of the century. I sincerely hope that we're in the former scenario and have not reach the latter.... yet. As with any bullruns, there will come a time when a major correction occurs and everything crashes. Ride the bull but be prepared to bail out.
Some even go to the extend of saying that cryptocurrencies are all a scam. Only time will tell.
I like this picture, the possibility of cryptocurrency bubble, which reminds me to be cautious in this new crazy cryptoland where anything is possible:
The picture shows you that the amount of money in cryptocurrencies is still relatively small. If it were to pop, crash and burn now, it will probably be the smallest bubble to burst!
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Cryptocurrencies – Is it a Ponzi scheme?
Contributed by our forumer Enigmatic.
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 kmarc: Jun 24 2017, 12:52 PM
For cryptocurrencies, there are many types of wallet: 1) Desktop wallet 2) Mobile wallet 3) Online wallet 4) Hardware wallet - Trezor, Ledger 5) Paper wallet
In general they all work on the same principle so I will be concentrating mainly on hardware wallet and I will use bitcoin as an example.
FAQs on hardware wallet:
1) It DOESN'T hold any bitcoins
2) It only holds the private key that enables one to manipulate the bitcoins on the blockchain. - without the private key to the address that holds the bitcoin, there is no way anybody can touch the bitcoins on a particular address
3) You can lose the physical hardware wallet but you won't lose your coins if you have the recovery seed to the private key. - If the wallet is lost or spoilt, you just have to get another hardware wallet, use the recovery seed to create back the private key, and you're good to go. - Note : Hardware wallet usually comes with PIN number so it is usually ok even if your lost hardware is found by someone else
4) Recovery seed is the MOST important thing in your whole bitcoin setup. - Remember that if you lose your hardware wallet, you can still recover your coins if you have the recovery seed - Remember that what you are recovering is the PRIVATE KEY that enables you to manipulate the coins on a particular address. Your recovery seed is not recovering any coins. - However, if you lose your hardware wallet and ALSO your recovery seed, you lose everything.
QUOTE
If you lose your hardware wallet and also the recovery seed, you lose everything. Your coins on that particular address can still be viewed on the internet but it will be floating there for all eternity.
5) If someone got hold of your recovery seed, they can steal your coins from right under your nose even if you kept your hardware wallet in the bank vault!
6) You can use your hardware wallet on the most virus-infected malware-infested computer and you are still safe - The good thing about hardware wallet is that the private key contained inside the hardware wallet cannot be extracted. No virus, trojan or malware can get access to the private keys. - This is in contrast to online or desktop wallets as hackers can gain access to the files that store your private keys.
7) Make sure your hardware wallet 24-word recovery seed is inaccessible - Remember that the 24-word recovery seed is the most important piece in your whole hardware wallet setup - Below are a few tips: ----- a) Keep the recovery seed in a safe place e.g. safe deposit box ----- b) Instead of just writing down the 24-word in sequence, you can rearrange them so that they are out of sequence. Of course, if you do that, you have to remember the rearrangements! Example would be like switching word 1 and word 2. ----- c) Divide the 24-word in different sections and hide it at different places - Those are just some examples. How you make the 24-word recovery inaccessible is entirely up to your creative imagination. Just make sure you remember how to unscramble your genius creativity!!!
8) Ensure you really secure your hardware wallet by activating passphrase. - Remember that the 24-word recovery seed is the most important thing. If somebody stole it, they can just use a hardware wallet together with the recovery seed to gain access to your coins EVEN IF your hardware wallet is in a bank vault! - Besides physically hiding the recovery seed all over the place, another easier method is to activate passphrase for your wallet - With passphrase, even if somebody stole your 24-word recovery seed, they won't know or can't see the hidden wallet - Refer the scenario below
Total coin cap for both NEO and GAS is 100,000,000. Half of the NEO cap are locked for the dev team, which they'll withdraw 15% each year for marketing, development, and partnerships. The rest has already been distributed for ICO investors. You cannot mine these coins.
NEO can only exist in round numbers and can't be divided, while GAS can be divisible.
By holding NEO in your own wallet, you get to claim GAS at every block generated, which occurs once every 15 secs.
NEO represents ownership of the entire network, it's used to elect bookkeeping nodes to validate transactions, vote on governance proposals and the right to claim GAS at each block.
GAS is very similar to ETH, which is used for transactions and contract execution on the network.
Here's what you can expect to claim on the first year if you presently hold 1000 NEO, note that the GAS reward will reduce each year, from 8 in first year, to 7 in second year and so on.
1000/100,000,000 = 0.00001 x 8 GAS per block x 5760 (blocks a day) = 0.4608 GAS a day
Ethereum
Brief Introduction
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At a very high level, Ethereum is a network of computers that supports the execution of programs and transmission of data. The key difference between this system and how the internet works today is that while apps and web pages are hosted on a single server (or small cluster of servers), everything on the Ethereum network is distributed. Any machine in the network can process calculations to determine the result of a transaction or piece of code in an app, and all the machines involved eventually reach a consensus on what the correct result should be. In practice, this means that apps cannot “go down” because of some single point of failure. As long as there are enough machines contributing to the network, everything built on Ethereum will persist and the network will ensure the validity of the blockchain.
Where does cryptocurrency come into the picture? Ether (ETH) fuels the execution of these distributed apps (DApps). In order for a DApp to execute a task, or for you to send some message across the blockchain, there needs to be a small amount of Ether spent, which is proportional to how large or computationally complex the task is. It can also be involved in the way an application works, such as a site that charges for a service, or a site where users transfer funds between each other for selling items, gambling, etc. These apps can even create their own currency for use within their ecosystem. A huge advantage of currency exchange via Ether on the Ethereum network is that these transactions are extremely fast, taking no longer than 15 seconds (new block creation time) plus the time to reach consensus. At the time of writing this, the median wait time is 35 seconds. This time will decrease further in the next iterations of Ethereum.
Aside from being able to fuel applications, Ether also functions as any other cryptocurrency does. It is used as an anonymous* ways to make purchases from an Ethereum wallet. If you’re familiar with how Bitcoin works, Ether can be used the same way. Spend it directly at any online storefront that accepts it or sell it on an exchange for cash, another currency, or anything else available.
Smart Contracts: What are they?
Smart contracts are scripts, which are typically written in Solidity. These scripts are built to autonomously carry out work on the Ethereum blockchain. They are fully self executing, self enforcing and self governed. You can think of them as autonomous, transparent, open source businesses which are available on the blockchain, and as such, are fully distributed. These distributed contracts take away the need for middlemen in most use cases. Along with their ridiculous fees, restrictive business hours, and long processing times.
ERC20 Token Standard
The ERC20 token standard is the Ethereum network’s formal definition of a token. This definition allows the developers of said tokens to write smart contracts which directly interface with the Ethereum network, and allow for these tokens to be recognized as valid currencies on the Ethereum network. As such, they are visible by Ethereum wallets, and easily transferred via the same channels as Ethereum.
How to best participate in ICOs (with parity node)
Here in this video, the example shown is referring to the past Aragon token sale, however the format are all similar for future token sales.
You'll need:
- the contract address from the official ICO site/email, (NEVER trust 3rd party links/addresses)
- the starting block number of the ICO, in our experience with the past BAT ICO, you can and should send it 1-2 blocks earlier to be among the very first to contribute in a frenzy sale.
- sufficient gas limit to participate, not to be confused with gas price. Be sure to confirm this on their slack channel/reddit/twitter if it isn't shown on their site
- if you wish, feel free to tweak the gas price higher depending on how kiasu you want to be in the ICO. higher fees means faster confirmations
For every ETH sent to an ICO contract, you'll receive equivalent amounts of tokens according to their exchange rates, most of the time it's instant, but that depends on how they structure the sale.
Ethereum Name Service
Hate copy and pasting addresses or scanning QR code? Wish you could send ETH and tokens just by typing in their names like Alice.eth? Well now you can!
A friendly reminder to take crypto security seriously
credit goes to /u/insomniasexx
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Eight months ago ETH was ~$13, phishing sites were everywhere, and too many people were losing ETH. Today ETH is ~$280, Bitcoin bloggers, low-entropy phrases, and Teamviewer hacks are (not quite) everywhere, but getting more popular, and too many people are losing ETH.
How can you protect yourself?
1. Get yourself a Ledger or Trezor Hardware wallet. They are less than 0.5 ETH now and a variety of wallets support them. There is really, really no excuse. https://www.ledgerwallet.com & https://shop.trezor.io/
2. If you don't want one of these nifty devices, use cold storage for a majority of your savings. Please. Pretty please.
3. Bookmark your crypto sites. Use those bookmarks and only those.
4. Turn on 2FA for everything. Go do it. Right now. Quit your excuses. Choose Google Authenticator over Authy. Don't use your phone number. Then, make sure your phone number is NOT tied to your Google account (look in privacy settings). Turns out, you and your BFF Mr. Hacker can "recover" access to your account via that number, completely destroying the point of 2FA. PS: Don't forget to cold-storage your backup words for these 2FA things. It's a huge pain when your phone goes for a swim and your entire life is 2FA'd. 😊
5. Do not use cloud storage (Dropbox, Drive, iCloud) for storing your keys :(Now your keys would only be protected by your cloud storage password. Also, see #4.
6. For Token Sales: do not trust any address except the one posted on the official site. Bookmark the URL before the sale, get the address from the URL from your bookmark at time of purchase. Do not trust any other source (especially a random bot on Slack). PS: When are token sales going to start using ENS names?
7. Double check the URL. Check it. Then, check it again right before entering any information. This is especially important for any sites that require usernames, passwords, email addresses, private keys, and any other personal information. SSL certs do not mean a site is trustworthy, just that they bought an SSL cert. Not sure about the correct URL? Cross reference Reddit, Twitter, Github, Slack and wherever else the project hangs out.
8. Triple check Github URLs. These are much easier to fake and much easier to miss. Instead of downloading from that random URL on reddit, seek out the URL on your own. Following the developers of these repos on Twitter, friending them on reddit (lol...but seriously it's nice because their name will be orange), or starring said repos on Github helps.
9. Always verify that the site you landed on is legit. Especially if you are about to entire your private key or download an application. What is legit? A service that people have used for a decent period of time with good results. If the URL has been registered in the last week or the site "just launched", err on the side of caution and avoid it for a while.
10. Google the service name + "scam" or "reviews". Scam sites rarely last long. Value real comments by real people over a random blog. Value a collection of information over a single source. Understand that legit services will likely have a mix of positive and negative reviews over a long period of time. Scam sites typically have no one talking about them, everyone yelling about how they got robbed, or the most perfect reviews ever. The latter one is just as red of a flag as the first one.
11. Don't ever run remote-access software (e.g. TeamViewer) ever...but especially not on a computer with keys on them. The number of security holes in these programs is atrocious. You 2FA your entire life, but then let a single string of characters give someone access to your entire computer & every account. 😱
12. Don’t click any link regarding anything crypto, money, banking, or a service like Dropbox / Google Drive / Gmail in any email ever. And if the scammy clickbait was simply too irresistible for you, don’t enter any information on the page.
13. Install an adblocker that actually turns off Google/Bing Ads. I recommend going with uBlock Orgin. If you are already using Adblock Plus, it does not hide Google Ads from you. Go into your Adblock Plus settings and uncheck the box that says “Allow some non-intrusive advertising”.
14. Don’t click on advertisements. With or without an adblocker, you should never, ever click on advertisements.
15. If you have accidentally visited or typed a malicious site, clean out your recent history and autocomplete. This will prevent you from typing kra… and having it autocomplete to the malicious krakken.com.
16. No one is giving you free or discounted ETH. Even for completing a survey.
17. The guys who just finish their token sale don't want to sell you tokens via Slack DM. Neither does that smokin' hot 125px x 125px avatar.
18. Lastly: use your brain. Think for a moment. Don't assume, ask. Don't blindly follow, question. If something doesn't seem right...if you feel like the luckiest fucker on Earth...or if you find yourself asking, "I wonder why I haven't seen this on reddit yet", there is likely a reason. 👍
A note about Ethereum Chamber scam
As some of you are aware, there was a scam site that was a clone of MyEtherWallet.com, but red. I was alerted to it via a Facebook message ~5am from a diligent user. That is one of 3 messages I received about it before our tweet went up at 1pm, not including the 5 from our internal team (thank goodness someone realizes our site isn't red!) Since that site has come to light, a number of folks have mentioned things like, "Oh yeah I saw it, I figured you guys were just rebranding" or "Oh weird. Yeah I figured it was a scam."
This site, which I thought was only a paid CoinTelgraph blurb at the time, was actually on a large number of Bitcoin blogs: podcasts, blogs, news sites, Twitter, the works.
How does this happen? How do a number of bloggers promote a direct (red) clone of MEW, people see it, and no one says anything? (The fact that all these bloggers & "news" organizations gleefully accepted money from a wallet site without Googling "ether wallet" or "Name of the Site" is a far too angry and long rant, but should not go unnoticed.)
Anyways! While the above post is all about the steps you should take to protect yourself, there is another one that is even more important:
Look out for one another Scammers thrive because they have victims -- because they know they can throw a stupid website out there and people will click it. Stop thinking, "Well, they shouldn't have clicked it" and start doing what you can to prevent people from making a mistake that will cost them their hard-earned coins.
• If you notice something looks like MEW, say "Hey, that looks like a clone of MEW! I wonder if they've seen it?"
• If you think that Github URL looks weird but you don't have the time to check, throw a "hey u sure thats rite url?" up there.
• If that reddit post is an unheard of wallet, leave a comment and report it with a "??????????" in the report reason.
• If the Token Sale you are participating it doesn't tell you explicitly when & where their address will be posted, ask them, in public, over and over again. If its not at least 24 hours before the Token Sale, question that choice, in public, over and over again.
• Remind people about best practices! If you've been visiting /r/ethereum for more than 3 months, you have 3 months on 25% of the people here. You are a bloody expert now. Time to put on your big boy pants:
• "@nooboob Remember the address will be posted on their website, NOT in this Slack."
• "It looks like this is an okay link, but it's not a good idea to click or install things from a random user on reddit. It could be malware."
There needs to be more due diligence everywhere, but this is easier diligence than most. It requires no advance knowledge or skills. You don't even have to be able to write good. Stay aware, trust your gut, ask more questions, trust the internet less, and google the fuck out of everything.
As I’ve mentioned before, I’m not covering hardware wallets, however I will say it’s pretty damn easy to move your newly bought funds to a hardware wallet. The best way to succeed with securing your funds into a Hardware Wallet is to simply follow the instructions from the manufacturer and reach out on reddit if you run into any issues. But follow the same overall guidelines and even if you are wanting to skip Paper Wallets for now, I recommend still reading through the following steps on creating a highly secure paper wallet...just so you can get the same principles to follow in dealing with your hardware wallet.
One of the most important things I stress with any new wallet is to always test everything with a very small amount, both ways (sending to and withdrawing from the wallet) and making sure the transactions all go through successfully before sending large amounts.
I’ve mentioned MyEtherWallet earlier and that is the method I’ll be walking you through to create your first Cold Storage Super Secure Wallet for your ETH stash. In some of the steps below, there is an alternative and easier approach, which is potentially less secure (depends on how vulnerable your computer and tech is or was). These alternate steps will be italicized and again, although easier do put your cryptocurrency at greater risk.
Now if you read the sections before, you’ll recall that a wallet consists not only of the public wallet address, where coins are sent...but also a private key that unlocks that address...allowing you to access the coins it holds. To generate a new wallet with the highest security requires a computer that has never seen the internet or any network before. Sure, you could generate a wallet on a computer that’s been online, etc...and maybe it’s secure and maybe you’ll be fine. But in the off chance that your computer is infected with some sort of virus or spyware, or in some way can make you vulnerable...why take the chance of putting thousands if not millions of dollars at risk? There’s no coming back from a cryptocurrency hack.
This is why we keep quiet about our stashes, why we use separate accounts for things, and why I encourage you...even if you use a hardware wallet...to create a paper/offline wallet following this part of the guide. It’s a little bit involved and may sound complicated, but it’s really not that hard and I hope I can simplify it and help you feel comfortable enough to do it. Part of this process involves creating a DVD that you can boot a computer from to do this work. I’m working on developing a bootable disk that will be prepackaged with everything you’d need to do this portion, that I could send to anyone who feels overwhelmed doing it themselves, but that will be in a few weeks at least until I’m able to get it created and ready to copy and mail to people. Let me know if it sounds like something you’d want and if enough people want it I’ll try to really prioritize that. Okay, now let’s get started! I hope I didn’t scare you away to thinking it’s too hard, it really isn’t just takes some patience to get things setup the first time, then it’s pretty easy after that.
Part 1 - Get an Offline Computer Setup
You don’t necessarily need a computer that has never been online to do this...as I just mentioned, I’ll show you how to create a bootable CD from which you can boot any computer, keeping it offline and running what’s called a “Live CD” version of Ubuntu (a linux-based operating system normally used to try out the Ubuntu OS before installing). What’s great about a Live Ubuntu CD is it will run a fully operational OS on pretty much any PC (sorry you will need access to a PC, not Mac) and from there you can open a saved copy of the myetherwallet website, to generate a new Ethereum wallet without ever going online. We’ll cover accessing this “offline” wallet later and how to transfer funds out of it...without it touching the web.
Step 1
Get your hardware ready, here’s what you need to have at your disposal:
- A PC - A writable DVD disc - A new, never used, USB Flashdrive (Any size is fine) - A USB Printer (you can also just write the public and private keys down, but it’s easier to print them and looks nicer for your records) - Packing tape or a laminator
Step 2 Visit Ubuntu.com and download and follow the instructions for creating/burning a bootable Ubuntu Live DVD. You can do this from a normal computer with a DVD burner, but preferably one that is definitely not infected! Maybe use a Mac and if you don’t have a mac, find a friend who will let you do this from theirs. Macs are just much less likely to be crawling with computer viruses! Ubuntu has a very easy to follow process for downloading an ISO (image file) that can then be used to burn a bootable DVD. This DVD will be used to boot your PC later.
Step 3 Visit myetherwallet’s git (this is where the latest build of their website software is securely updated to: https://github.com/kvhnuke/etherwallet/releases/latest At this page, under the "Downloads" section, click and download the file that name begins with "dist-" and ends in ".zip".
Step 4 Unzip the downloaded file to the new empty USB flash drive. It should just be a folder with an index.html file and other subfolders and files inside. The ZIP is about 20MB in size and inside is a folder called etherwallet-mercury or some other build name after the hyphen.
Step 5 Take your newly burned DVD and the USB thumbdrive containing the etherwallet folder, and keep them in a safe place. The USB drive will NEVER be connected to an online computer ever again! It should be solely dedicated to this use and only plugged into a computer booting off the new DVD you created. We’ll use these in just a moment to create your new secure wallet.
Part 2 - Creating your cold storage, offline, Ether wallet
Next you’ll generate your first official secure and offline ethereum wallet. To do this you’ll need the PC, new DVD and USB thumbdrive, and your printer or pen and paper.
Step 1 Disconnect any Ethernet cable plugged into the PC you will be booting to.
Step 2 Power off the PC, power it back on and insert the boot disk, then immediately reboot. DO NOT plug in the USB drive yet.
Step 3 Boot the PC using the bootable Ubuntu Live disk. Choose “Try Ubuntu” when it boots up...and you’ll be taken to a desktop with a menu bar. DO NOT connect an Ethernet cable or wifi, EVER during these Live boot sessions.
Step 4 After you’ve booted into the Live Ubuntu disk, and are sure it’s offline, plug in the USB flashdrive containing the web software from myetherwallet.
Step 5 It may not allow you access to the flashdrive, you may get an access denied message. That’s fine, simply press the key combination: CTRL ALT T, and a “Terminal” or “console” window will appear with a flashing command line prompt.
Step 6 Type the following and press Enter: sudo nautilus
Step 7 A new window should appear and on the left you’ll see drives listed...including a flash/USB drive, the one you plugged in….It’s important to point out, you should NOT have any other USB drives connected to the PC while doing this.
Step 8 Double click the drive and it will open this time, revealing the contents which should be the folder containing the website info from myetherwallet...of which there will be an “index.html” file.
Step 9 Double click the “index.html” file and it will launch in the browser of the live session and look, just like a regular webpage, as if you were online. It should, however, display an error that says something to the effect that you are not online...that it cannot communicate with a server, etc. This is fine, and expected.
Step 10 The page that displays by default is the Generate a new wallet page. So simply type in a long and unique sentence that you come up with. My recommendation is that you choose 9 words, rather than 9 characters and include spaces between each word. This is what we’ll call your Seed Phrase. If you are in a private and secure location, you can click the little “eyeball” to reveal the phrase you typed so you can copy it. Don’t click Generate yet!!!
Step 11 Create a new folder on your USB drive and call it “Wallet”.
Step 12 Back on the myetherwallet page, copy/paste your new Seed Phrase into a text file within that new “Wallet” folder on your USB drive...you can create a new text file by right clicking within the folder and clicking “New document > Empty document” then double click it and paste the phrase….rename the new document to “Seed Phrase”.
Step 13 Now click “Generate Wallet” back on the myetherwallet page and you’ll go through a few steps. Download the JSON file to the Wallet folder on your USB drive and then click the warning “I Understand. Continue.”
Step 14 Next it will display your Private Key and give you a Print button, so you can print your Paper Wallet.
Do two things: 1 - Copy your private key and paste into a new text file in your Wallet folder, name that file Private Key. Make sure it’s identical to the one you see on the web page!! 2 - Next, connect your USB printer to the computer and wait for it to be detected. If it’s not or you have issues with it, you can print to PDF and work on this later. Regardless, proceed by clicking Print. It will initiate a new tab in the browser and allow you to either print to your USB printer or to a PDF file and save that on your USB flashdrive in the Wallet folder. The printable Paper Wallet will have both the Address (public key) and Private Key, including QR codes for both.
Step 15 Back on the webpage, below the print section, click “Next: Save Your Address”
Step 16 You’ll be prompted to enter your Private Key or upload your json file to unlock your wallet. Because you’re offline, go ahead and copy/paste your private key from the text file you created in Step 14 and click “Unlock”. This will reveal your Wallet Address (Public Key) which was also visible on the Paper Wallet you printed.
Step 17 Store your paper wallet and the USB flashdrive in secure locations!!! That is your cold storage account!! But before you send large amounts of money to it, we need to test and make sure everything works and you have everything recorded correctly.
Part 3 - Test Send (Deposit)
To test your new wallet and make sure everything went as expected in the setup phase, you’ll need to actually send Ether to the wallet, check it’s balance and see the Ether arrive, and the send Ether from the new wallet out to your Coinbase account...and again check that the transaction goes through and that you have access to your new wallet. To perform this test, you’ll want to remain offline and you’ll be incorporating your smart phone for part of the test. But let me stress this: at no time will you need to connect the offline computer to the internet, ever, to send funds from it...it probably sounds weird and how is it possible to send money from an offline wallet. But the reason it works is the offline computer will generate a transaction ID that contains all the data the Internet needs to process a transaction...you’ll use your smartphone to send the transaction ID to the web, without having to enter your private key on your phone or on any online device. You enter the private key on the offline computer, unlock your wallet while offline, generate a transaction with the parameters you want (like the amount to send out) and it will generate a TX ID that your phone can then scan from a QR code and send to the blockchain, initiating a withdraw from your wallet! Pretty cool stuff. So here are the steps involved:
Step 1 First let’s send a small amount of ETH to the newly created offline wallet, go to your Coinbase account from your mobile device, preferably using the Coinbase app, and locate your ETH Wallet using the menu in the upper left of the screen. From your ETH wallet, either touch the little “paper airplane” looking icon in the top right of the screen, to initiate a Send.
Step 2 For this test, just send $2 worth of ETH. Enter the amount as USD and touch SEND. To make sure you are entering USD and not ETH amount, make sure the number on top is $0 when you arrive at the send screen...if it shows 0.00 ETH on top and $0 on the bottom, just touch the two arrows on the left and it will swap and put the $0 on top, where you can now enter $2. I point this out because 2ETH could be an expensive mistake if there were a problem during our test! Remember, anytime you send cryptocoin, use caution and make sure you entered things the way you expected to.
Step 3 The next screen is where you enter your newly created offline wallet address, so you can send this $2 test to that wallet. Rather than type in the wallet address, you can simply open the PDF you saved earlier or use the paper wallet you printed, and scan the “YOUR ADDRESS” QR code by touching the little QR looking icon in the To field on your smartphone. It will scan pretty quick and you’ll see the To field populate with the wallet address. Make sure it matches up to the printed “Your Address:” on the paper wallet. If part of it is cut off in the To field, just touch the To field and it will activate the text field so you can see the entire wallet address. After you confirm they match, on your mobile device select and copy the address in that To field and then paste it in your Notes or note taking app so if the test is successful, you have an easy to access way of copying and pasting that address in the future.
Step 4 When ready, simply touch “Send” in the upper right of the mobile device and it will prompt you for your PIN or fingerprint, etc. and send the ETH to your paper wallet.
Step 5 Sending/Receiving Ether can take a few minutes or seconds, depending on many factors, so the next step you’ll do is to check the progress of the funds reaching your new wallet on the blockchain...but you may need to keep checking for a few minutes before they arrive. To do this, from an online computer or the same online mobile device you’re using, open a browser and go to https://etherscan.io. Paste your new wallet Public Address (the same you just sent to) into the top search box and hit Enter or return.
A new page will display, showing the balance of that address, any transactions, etc. Near the bottom of the window you should see the new transaction you just placed processing or “pending”. After you see the transaction go through and no longer “pending”, you should see the balance on the etherscan page for your wallet reflect roughly what you sent to it. A very small amount of ETH is used in transactions as “gas” which is sort of like a tiny fee for doing a transfer...so that’s why it’s “roughly” what you sent. The amount of gas is very very small, we’re talking pennies basically. Not only can you look up your public wallet address on etherscan and see it’s current state, history of transactions, etc...you can also look up a specific transaction by transaction ID. We’ll talk a little about this when I cover sending from your offline/cold storage wallet. But suffice it to say, etherscan is an extremely useful site to keep tabs on things, balances, transactions and much more. You can also see the balance of anyone’s wallet using the same method and their transaction history. Remember, the blockchain is a public ledger.
Part 4 - Test send FROM your new offline wallet
Now that you have confirmed a successful send to your wallet, don’t send more just yet! First make sure you can withdraw from that wallet...while it remains offline of course. Again, we’ll be using a smart phone in tandem with this process to make it easier. This is also the same process by which you would do any future sends out of this Cold Storage wallet safely and securely without exposing the wallet’s private key to any network or prying eyes.
Step 1 On the Offline computer where you created your wallet, return to the browser that has the offline version of myetherwallet opened from earlier. In the future when you go to send out of this cold storage wallet, you’d boot from the disk like we did before, plug in the USB and open the index.html file to do this step. On that myetherwallet offline site, choose the menu item on the top that says “Send Offline”. Don’t fill in any fields yet.
Step 3 From your smartphone on that page, in the top field under Step 1: Generate Information, enter your cold storage offline wallet address...this is the address you just created on the offline computer and did your test send to. You should have copied and pasted that wallet address into your note app on your smart phone and you know it’s correct if the send test succeeded, so go ahead and copy and paste it into this Generate Information field in the browser of your smartphone. Then touch the “Generate Information” button.
Step 4 When you touch the Generate Information button, two new boxes appear below that button on the smartphone’s webpage. They are Gas Price and Nonce. You’ll need these exact values for the next step, so copy or write them down.
Step 5 Next you’ll need to know your balance in your offline cold storage wallet, so also paste that address into a new browser tab over at https://etherscan.io and then look for the ETH balance for the wallet. We’ll be sending half of this balance out back to Coinbase for this test, so write down approx half of the ETH balance number (not the USD equivalent)
Step 6 Now go to your Coinbase app to get your Coinbase ETH Wallet address. This is where you’ll be sending the test to from your offline wallet. To get this, open the app and navigate to your ETH Wallet. (make sure you are in the ETH Wallet, not the BTC) Then, in the upper right, next to the little “paper airplane” send icon, there’s a little QR looking icon. Tap it and you’ll see a QR scan screen open, at the top you’ll see an option called “My address”, tap it and you’ll see a large QR image and a link that reads “COPY ADDRESS” beneath it. Touch “COPY ADDRESS” and it will say “COPIED” when it has successfully copied it. Now paste this in your note app on your smartphone and make sure it’s not the same as your cold storage address...make sure it copied the new one. You can also write this down if it’s easier in the following steps to enter it on the offline computer, as you’ll have to enter it by hand on that computer.
Step 7 On the offline computer, you’ll go to the “Step 2: Generate Transaction” section of the offline myetherwallet page. Using the data you collected in the previous steps, fill out each field of “Step 2: Generate Transaction” except for “Gas Limit” and “Data”, these can be left alone for this test.
Step 8 You’ll then need to unlock using your private key...so open the text file you created earlier on the USB drive and copy and paste your private key in the field that appears when you select Private Key on the offline page....or upload the json file you downloaded earlier when setting up this offline wallet...and click Unlock.
Step 9 After unlocking, click the button “Generate Transaction” just below this unlock section of the page. A QR image will appear on the right which contains the Transaction ID (TXID).
Step 10 Using your smartphone, open a QR reader app (or download a free one and use it) and point your phone’s camera at the offline computer screen to read the QR TXID. The QR Reader App should provide the very long string of characters which constitutes the TXID. Copy it and return to your phone’s browser where you have the myetherwallet website open. On that same page, at the bottom, is a blank area to paste the TXID under “Step 3: Send / Publish Transaction”. Paste it there and touch “Send Transaction”.
Step 11 If all went well so far, the phone’s browser will produce a message that has a tracking link to track the transaction. You can touch that link to open the etherscan.io page where the transaction will show as processing or some similar message.
When it’s completed, it will show you the completed status and you’ll be able to check your Coinbase account and see an incoming deposit of the ETH to your Coinbase ETH wallet! Practice this a few times with small amounts, until you feel comfortable doing it with larger. And after I do a test send of a tiny amount, and it goes well, I do another of a slightly larger amount and make sure that goes well and THEN do the target amount. Get in the habit of always doing a couple tests before the real deal, to make sure you are not making some simple mistake that can cost you big. Also a note to reiterate on etherscan...some transactions take time, more than a few seconds and maybe more minutes than you feel comfortable with...so don’t panic until you are sure it’s not showing up. Usually it’s just delayed a bit if you don’t see it right away, especially when it comes to sending to an exchange.
FINAL STEP: Returning Online (IMPORTANT)
It’s important to do the following steps before you return online.
Step 1 Eject the USB thumbdrive, and store securely.
Step 2 Using a laminator or clear packing tape, laminate your printed wallet(s) and store securely.
Step 3 Eject the DVD and shut the computer down.
Noteworthy links to catch up on Ethereum news
https://www.reddit.com/r/ethereum/ - orange links are official releases from the core devs, also used to highlight important announcements. - mainly focus on the technology and adoption aspect of Ethereum, price discussions aren't allowed here. - core dev meetings are regularly held on the first and third Fridays of each month, there'll be livestream links and transcripts are provided a few days afterwards. - Pay attention to the upvote count for submissions, anything over 200 upvotes deserves a read.
https://www.reddit.com/r/ethtrader/ - Daily discussion threads are highly active and spammy, sort by top comments to filter out the noise and gain some cool and interesting insights from redditors. - Ignore the memes if you can, it's unavoidable when the price spikes to such level. - Pay attention to the upvote count for submissions/news links, anything over 200 upvotes deserves a read.
https://www.reddit.com/r/ethtraderpro/ - secondary subreddit by ETH veterans, handy to skip through junk comments as the place will be moderated. - all thread/comments deserves a read, ignore upvote counts.
http://www.weekinethereum.com/ - If you haven't subscribed to this weekly newsletter, do it now. - Covers almost everything that's related to Ethereum, and it's all free. - Spend some time going through all the interviews, they're all fascinating to read/watch.
https://www.smithandcrown.com/icos/ - ICO tracker, includes non-Ethereum ones as well - Please read, listen, and watch as much as you can, do tons of research before putting any money on these ventures, 9/10 of these WILL fail, but 1 of them will definitely make you rich. Tread carefully
https://www.meetup.com/Ethereum-Singapore/ Willing to travel to Singapore? You might get a chance to talk to Vitalik in person! Plenty of cool meetups are regularly held.
Crypto podcast links Read the show notes to pick your favorite topics if you find these overwhelming. Perfect to listen during daily commute
Love his accent, love his simple explanation on crypto stuffs, highly recommend to subscribe.
I'll add on a few points on why Ether (ETH) is valuable despite being permanently uncapped.
- Proof of Stake algorithm for public blockchain security. The more people use it, the more we need to secure it from malicious actors, thus ETH is being used to incentivize and to punish validators.
- autonomous programs and its exponential growth, the largest users of Ethereum will not be humans, and their wallets will be in the billions if we have unlimited scalability.
- Initial Coin Offering, ICOs bootstrapping the entire ecosystem by creating new opportunities and locking up ETH on its way.
- Prism exchange, each Prism created is backed by ETH, with more demand to speculate on the overall crypto market, expect more ETH gets locked up.
- Used as collateral for stablecoins and smart token platforms by Maker and Bancor respectively, same reason as above.
- Used to bid for Ethereum Name Service, if you want to obtain vanity names, you'll have to lock up ETH
- Will be used to incentivize data storage in SWARM, currently at PoC (proof of concept) 3, you'll be rewarded with tiny bits of ETH for hosting a full node and storing all of Ethereum's data.
Should I include such info into the guide? This gets repeated quite often
This post has been edited by WooTz: Jun 12 2017, 10:58 AM
Before you start, remember, mining is not for everyone. Not many are cut to be a miner.
Before you start, u need to fix your mentality, Mining = Business. And u will have overheads --> power cost, breakdown of parts, internet etc, maintenance, but this is still profitable, vs some poor chap spending 15 hours a day mending his business, with zero profit.
once you set your mind that mining = business, you can now assemble your rig. don't buy a business, u set it from scratch. The feel is just different.
Then check your budget. What is your allowable overheads to be taken into considerations.
Then further study what cards are available. I suggest Nvidia. Minimum to get is 3.
If cost is a big concern, u shouldn't run a business. Easy.
So, who's up for taking the lead to create a dedicated thread for Cryptocurrency mining in the Hardware section? I think we have come to a point where the cryptocurrency presence in Malaysia has matured enough to require two separate and dedicated discussions threads, one for investing and one for mining.
And I think this is also important so that more people will become aware of cryptocurrencies in general.
newbie with noob question here. i'm currently mine using nicehash miner. the miner help me to choose which algo is the best for me to mine and they pay with bitcoin. i'm planning to convert those bitcoin to ethereum for long term investment purpose the question is: is it advisable to convert those bitcoin or just keep the bitcoin?
my logic: with the amount of bitcoin, i can get higher amount of ethereum. and with the current ethereum projection, i may able to get better ROI with ethereum for the long term.
newbie with noob question here. i'm currently mine using nicehash miner. the miner help me to choose which algo is the best for me to mine and they pay with bitcoin. i'm planning to convert those bitcoin to ethereum for long term investment purpose the question is: is it advisable to convert those bitcoin or just keep the bitcoin?
my logic: with the amount of bitcoin, i can get higher amount of ethereum. and with the current ethereum projection, i may able to get better ROI with ethereum for the long term.
in ROI % wise, i think it's great to convert to ETH. BTC is moving upscale, probably slower.
but for ETH, as few forumer pointed out, could reach up to 500 USD? *Current price 348 USD
So, who's up for taking the lead to create a dedicated thread for Cryptocurrency mining in the Hardware section? I think we have come to a point where the cryptocurrency presence in Malaysia has matured enough to require two separate and dedicated discussions threads, one for investing and one for mining.
And I think this is also important so that more people will become aware of cryptocurrencies in general.
i thought Kentang Emas aka GOLDFRIES want to take lead?
Before you start, remember, mining is not for everyone. Not many are cut to be a miner.
Before you start, u need to fix your mentality, Mining = Business. And u will have overheads --> power cost, breakdown of parts, internet etc, maintenance, but this is still profitable, vs some poor chap spending 15 hours a day mending his business, with zero profit.
once you set your mind that mining = business, you can now assemble your rig. don't buy a business, u set it from scratch. The feel is just different.
Then check your budget. What is your allowable overheads to be taken into considerations.
Then further study what cards are available. I suggest Nvidia. Minimum to get is 3.
If cost is a big concern, u shouldn't run a business. Easy.
Hi, I do not have budget for 3, I am starting with 1 1070, together with my old rx270
Yippee! My BTS loan almost finished. Earnings so far is 230 BTS coins. Lent out at 0.73%. At current rates, that's about USD 80-90 past 2 days.
You guys should do some lending but please don't spoil the market. Some people just put a bunch of coins at 0.0001% for weeks, making lending not worth it at all.
BTC loan rate at the moment still not too bad, at 0.13-0.17%.
Yippee! My BTS loan almost finished. Earnings so far is 230 BTS coins. Lent out at 0.73%. At current rates, that's about USD 80-90 past 2 days.
You guys should do some lending but please don't spoil the market. Some people just put a bunch of coins at 0.0001% for weeks, making lending not worth it at all.
BTC loan rate at the moment still not too bad, at 0.13-0.17%. USD right?
Maybe I should just reward myself and upgrade my card while using my 1070 for mining.... no no... wait for vega first......
Why wait, u believe Vega will reach here in next 2 months? And while waiting, u lose potential income. This is not correct business. U buy 1070, then sell it for Vega.
i thought Kentang Emas aka GOLDFRIES want to take lead?
u can start, many will chip in.
Unfortunately, I have zero knowledge in mining, and am not really interested in doing so either, at least not at the moment. Kmarc has already contacted goldfries about this, I think he's the best person to take the lead.
Why wait, u believe Vega will reach here in next 2 months? And while waiting, u lose potential income. This is not correct business. U buy 1070, then sell it for Vega.
No urgency. Besides I can't even source the appropriate motherboard and risers locally! I'm quite happy with my auto-cruise coins and lending at the moment. I'm just thinking that mining will make my involvement in cryptos complete.
No urgency. Besides I can't even source the appropriate motherboard and risers locally! I'm quite happy with my auto-cruise coins and lending at the moment. I'm just thinking that mining will make my involvement in cryptos complete.
On other news, ETH at 350!
board and risers u can find it over lelong. Locally means in Sibu?
board and risers u can find it over lelong. Locally means in Sibu?
Yup, Sibu. I usually buy parts online and can built rigs from scratch but since this is going to be 24/7, it's better to source locally. Warranty would be a headache.
QUOTE(raynman @ Jun 12 2017, 02:38 PM)
Great!
I just took up another Ethereum cloud mining contract for two years with Genesis.
You can use my affiliate code in my signature to get a 3% discount after you sign up.
Nice but I'm still not comfortable with cloud mining. Maybe when I'm out of ideas next time....
Yup, Sibu. I usually buy parts online and can built rigs from scratch but since this is going to be 24/7, it's better to source locally. Warranty would be a headache. Nice but I'm still not comfortable with cloud mining. Maybe when I'm out of ideas next time....
Yippee! My BTS loan almost finished. Earnings so far is 230 BTS coins. Lent out at 0.73%. At current rates, that's about USD 80-90 past 2 days.
You guys should do some lending but please don't spoil the market. Some people just put a bunch of coins at 0.0001% for weeks, making lending not worth it at all.
BTC loan rate at the moment still not too bad, at 0.13-0.17%. USD right?
does lending really make money? i dont know how much profit will rake in.
i get it earn the interest, but at what scale. my own thoughts
I don't do any mining, but just curious to know, why do you say that it is not worth it to mine, when the ROI is just 4.5 months or less? Compared to any conventional business, the ROI could be a year or more, so 4 months seem pretty good to me? Or am I missing something?
I don't do any mining, but just curious to know, why do you say that it is not worth it to mine, when the ROI is just 4.5 months or less? Compared to any conventional business, the ROI could be a year or more, so 4 months seem pretty good to me? Or am I missing something?
I believe he is comparing cloud mining ROI with using a custom mining rig.
I believe he is comparing cloud mining ROI with using a custom mining rig.
QUOTE(TheReaderReads @ Jun 12 2017, 03:47 PM)
alright
I notice u promote Hashflare and Genesis Mining. Hashflare gives 10% discount. which has better returns if I am looking at ETH 100MH/s
So basically you get about USD700 worth of ETH a month?
Genesis mining is more worth or Hashflare?
Custom mining needs to take into consideration of electricity and some of my friends said need 10 months to get BE. Just that cloud mining is excluding of the electricity cost and 4.5 months seems Ok for me now. But the pay off cost of USD2700+ is considered as burn as you did not get any rigs.
This post has been edited by jack2: Jun 12 2017, 03:54 PM
So basically you get about USD700 worth of ETH a month?
Genesis mining is more worth or Hashflare?
Custom mining needs to take into consideration of electricity and some of my friends said need 10 months to get BE. Just that cloud mining is excluding of the electricity cost and 4.5 months seems Ok for me now. But the pay off cost of USD2700+ is considered as burn as you did not get any rigs.
Give Genesis a try.
You don't need to sign up for 100MH/s hashpower right away.
I have both Hashflare and Genesis ETH mining contracts.
But the HashFlare contract is for only one year.
Although the price per MH/s is lower than Genesis, you have one extra year in Genesis to collect your ETH.
I believe Genesis is more worth it than HashFlare.
Please remember to use my Genesis code when you sign up.
I am looking to go 100MH/s
of cuz will sign up using ur Genesis code. that 3% is precious
anyway another question
for 100MH/s per month is USD722.43. So that means I get ETH equal to USD722.43 right? I get it per month? per day? or per week? or per year?
lets say per year amount it is USD8,789.61. if 1ETH suddenly shoot out USD10,000 this year. then how would they calculate after i get ETH per mth previously at current price.
of cuz will sign up using ur Genesis code. that 3% is precious anyway another question
for 100MH/s per month is USD722.43. So that means I get ETH equal to USD722.43 right? I get it per month? per day? or per week? or per year?
lets say per year amount it is USD8,789.61. if 1ETH suddenly shoot out USD10,000 this year. then how would they calculate after i get ETH per mth previously at current price.
Great restructuring of the first page. Articles are informative albeit a bit lengthy
A sincere thank you to all who have done a great job contributing (my only contribution is this post so far which is far from informative) I am sure all of us here appreciate it as well as future new visitors
of cuz will sign up using ur Genesis code. that 3% is precious anyway another question
for 100MH/s per month is USD722.43. So that means I get ETH equal to USD722.43 right? I get it per month? per day? or per week? or per year?
lets say per year amount it is USD8,789.61. if 1ETH suddenly shoot out USD10,000 this year. then how would they calculate after i get ETH per mth previously at current price.
Actually you get freshly mined ETH tokens every 24 hours.
With a hashpower of 100MH/s, you will mine approximately 0.0640 ETH tokens per day based on current difficulty.
Multiply this amount with the current ETH market price and you will get the actual amount in USD.
The recent Bits Be Trippin video showcased a single 1080ti build doing 37Mh/s while drawing only 205W
With cryptocompare calculation, it'll mint 0.025 ETH every day.
Not too shabby considering my gaming rig is slowly paying itself off.
QUOTE(zamans98 @ Jun 12 2017, 02:09 PM)
Why wait, u believe Vega will reach here in next 2 months? And while waiting, u lose potential income. This is not correct business. U buy 1070, then sell it for Vega.
Yeah that's what I thought too, now is the time to start. Every day matters now.
This post has been edited by WooTz: Jun 12 2017, 04:31 PM
Why cloud mining if u can setup own hardware and ROI within 6 months and after that all free money (minus tnb bill)? I'm not investor or minor just curious.
Why cloud mining if u can setup own hardware and ROI within 6 months and after that all free money (minus tnb bill)? I'm not investor or minor just curious.
Exactly. RIP my 0.8 BTC and Bnk2future's US$390,000 dumb portfolio, they won't be missed.
Caveat emptor to all cloud miners, and I'll leave it at that.
This post has been edited by WooTz: Jun 12 2017, 04:22 PM
Why cloud mining if u can setup own hardware and ROI within 6 months and after that all free money (minus tnb bill)? I'm not investor or minor just curious.
bcuz I am renting a room in this HDB flat in singapore
I don't do any mining, but just curious to know, why do you say that it is not worth it to mine, when the ROI is just 4.5 months or less? Compared to any conventional business, the ROI could be a year or more, so 4 months seem pretty good to me? Or am I missing something?
What makes you think ROI is 4.5 months when hashrate is fixed and difficulty rises?
Back to cryptocurrency investing......ETH is pushing USD 380...! And market cap is pushing USD 115 Billion...! This is unreal.
By the way, can anyone enlighten me, what's the deal with Dash? I know that it originated from Darkcoin and has squeezed into the Top Ten, but what actually fuels it's meteoric rise? I'm asking because I see that it has been chasing Zcash when they were both below USD 100, until ZCash left it behind recently. If history repeats itself (and it usually does), then I'm thinking that it would not be unthinkable for Dash to reach USD 330 in the near future too? Since, as we all know, fundamentals go out the window when it comes to cryptocurrency euphoria.
As what highlighted by Woo, I afraid that too if the payout is stopped and turn to scam.
i believe after looking at so many scams in the world today, the risk is very real. i am prepared to lose my investments, something that you always need to keep in mind
Back to cryptocurrency investing......ETH is pushing USD 380...! And market cap is pushing USD 115 Billion...! This is unreal.
By the way, can anyone enlighten me, what's the deal with Dash? I know that it originated from Darkcoin and has squeezed into the Top Ten, but what actually fuels it's meteoric rise? I'm asking because I see that it has been chasing Zcash when they were both below USD 100, until ZCash left it behind recently. If history repeats itself (and it usually does), then I'm thinking that it would not be unthinkable for Dash to reach USD 330 in the near future too? Since, as we all know, fundamentals go out the window when it comes to cryptocurrency euphoria.
bcuz I am renting a room in this HDB flat in singapore
no space for such hardware
u selling rig???
if u have friend in Malaysia maybe u can jv to setup and maintain the hardware? for RM12k (i assume i invested usd2.7k) I know someone who makes about RM1500-2k a month mining eth
ETH last couple of days daily volume exceed that of BTC
as for DASH, saw some youtube video of ppl mining DASH at high rates from Genesis Mining
It's not really that strange, actually. For me, the daily volume is a good parameter, but not the best indicator of money flowing in......market capitalisation is a better indicator. And looking at it, we are looking at 35 Billion, edging closer and closer to bitcoin's 48 Billion. The flippening is really happening, it seems.
I give them both another 2 days to reach USD 3000 and USD 400 respectively.
i believe after looking at so many scams in the world today, the risk is very real. i am prepared to lose my investments, something that you always need to keep in mind
Yes, you are absolutely right.
We must bear the calculated risks and invest with money we can afford to lose.
You mean you last time lost 0.8BTC and usd390k to cloud mining?
QUOTE(thesnake @ Jun 12 2017, 04:50 PM)
i believe after looking at so many scams in the world today, the risk is very real. i am prepared to lose my investments, something that you always need to keep in mind
QUOTE(raynman @ Jun 12 2017, 04:51 PM)
No worries, my friend.
I have done due diligence and research on these two companies way before I invest in them.
QUOTE(blueblueoutofblue @ Jun 12 2017, 04:53 PM)
i think is cloud mining right? not genesis mining?
Story time folks.
Last year January in 2016, a few things happened.
We had a contentious scaling event with Bitcoin, Bitcoin Classic was among one of the solution to address it.
I poured money setting up Classic full nodes, and looked at genesis mining, they mentioned they'll support Bitcoin classic!
I was like great! Let me buy some hashpower to help!
Deposited 0.8 BTC with full intention of not seeing anything back. Then at feb 2016 they 180 degrees on Classic and that was that.
The daily payout only lasted 4 months, and no, forget about getting half of my coins back.
It was like 0.001......0.00001.......0.00000001......then nothing
Poof, bye bye 0.8 BTC
Then I diversified some money, like US$4000 into bnktothefuture, their plan very straightforward.
1/3 goes to cloud mining (haha reality haven't hit back then)
1/3 goes to hodling Bitcoin
1/3 goes to buying up a bunch of Bitcoin related companies
Same story, 0.0001.....0.00001......0.000001 and poof
Only Bitcoin core holding and some shares went up big time, barely covering that $390,000 fcuk up
It's not really that strange, actually. For me, the daily volume is a good parameter, but not the best indicator of money flowing in......market capitalisation is a better indicator. And looking at it, we are looking at 35 Billion, edging closer and closer to bitcoin's 48 Billion. The flippening is really happening, it seems.
I give them both another 2 days to reach USD 3000 and USD 400 respectively.
the effect of that coming china forum will definitely see a huge influx of more Middle Kingdom Yuan if things turn out great
Ok, to be real, what are the news that causing the rally? Besides EEA and Blockchain Conference on China. I just felt its unreal. Any explanation for the huge rally?
does lending really make money? i dont know how much profit will rake in.
i get it earn the interest, but at what scale. my own thoughts
Some but not much. It depends on the lending rate and how much you lend out. A lot of coins are stuck at 0.0001% because some whale got nothing to do and put thousands to millions of coins at that rate.
I just checked my BTS lending history. Made 380 coins so far. Most of the time very few coins but past 2 days already 200+ coins. Depends on rate and demand.
QUOTE(goldfries @ Jun 12 2017, 04:26 PM)
What makes you think ROI is 4.5 months when hashrate is fixed and difficulty rises?
I just made a video on this last night.
Projection looking great? Think again.
Nice video and informative! That's what I need.
Goldfries, you should open a mining thread in hardware section!!!
If your purpose was to reduce the euphoria or discourage mining, you were successful! I think I will hold on my plans for mining and become loan-shark first.
This post has been edited by kmarc: Jun 12 2017, 06:41 PM
Damn, this is the second time ETH made a run and causes altcoins to drop. Even BTC dropped. I'm not used to this new scenario and there goes my strategy of deep sea fishing when BTC makes a run.
Anyone thinking into going into cloud mining should really google and go through the reviews, most of em are scams and many people have fallen into it and didnt breakthrough.
Crazy volatile BTC. I can't imagine some merchant accepting BTC throughout the day to find that they have been losing money because the price decided to dip at the end of the day.
This post has been edited by wiisg: Jun 12 2017, 07:14 PM
Crazy volatile BTC. I can't imagine some merchant accepting BTC throughout the day to find that they have been losing money because the price decided to dip at the end of the day.
Just signed up genesis-ming ETH 100MH/hash power... LOL
Sign up under me la.. haha 1uIYaZ
QUOTE(raynman @ Jun 12 2017, 04:47 PM)
You can even withdraw it on a daily basis if you so wish.
I plan to withdraw on a weekly basis to save some transaction fees.
If you purchase the contract with credit card, they will hold your withdrawal for the first 30 days for security reasons.
I know this might sound silly but could i please ask u guys a few questions ?
Was checking out Genesis-mining and realised that they did not disclose how many ETH would one get on average per day for each package. Anyway that i could get this info ?
Presuming that i sign up for the medium package 30/MHs, how many ETC do i expect to get ?
I know this might sound silly but could i please ask u guys a few questions ?
Was checking out Genesis-mining and realised that they did not disclose how many ETH would one get on average per day for each package. Anyway that i could get this info ?
Presuming that i sign up for the medium package 30/MHs, how many ETC do i expect to get ?
Let me try to answer your question.
The number of ETH tokens mined per 1MH/s hashpower is dependent on the prevailing difficulty factor and the size of the mining pools used.
That's why they cannot give you a fixed figure of the number of ETH tokens mined per unit hashpower.
If the price of ETH goes up faster than the mining difficulty factor, you don't have to worry too much.
Guys, in ultra volatile times like this, would it be smart for me to keep my ETH on an exchange rather than MEW to allow for a faster cashout in the event I believe the ETH will crash? Exploring all the options. I see myself as a long term holder.. but as I said, exploring all options.
The number of ETH tokens mined per 1MH/s hashpower is dependent on the prevailing difficulty factor and the size of the mining pools used.
That's why they cannot give you a fixed figure of the number of ETH tokens mined per unit hashpower.
If the price of ETH goes up faster than the mining difficulty factor, you don't have to worry too much.
Nice, I've just started watching a few videos on Youtube about genesis mining.
What I'm worried now is that what happens if the level of difficulty of mining ETH goes up drastically and the price of ETH goes down ? I'll be doomed lol
Nice, I've just started watching a few videos on Youtube about genesis mining.
What I'm worried now is that what happens if the level of difficulty of mining ETH goes up drastically and the price of ETH goes down ? I'll be doomed lol
This is the investment risk you have to take.
Can't run away from that.
Anyway to answer your question if you opt for the 30MH/s package, you will get approximately 0.02 ETH tokens per day at current difficulty level.
Feel free to use the mining profitability calculator at CryptoCompare.
Just bought 40 ETH... Hopefully it can go up in these couple of days
Wow! Even though I think ETH will rise further, I have never dumped so much into one coin at one shot! Especially at such prices. Do be careful and hope you profit from it.
OMG!! Unbelievably ETH!! I am laughing to the banks!
Q: (assuming suddenly all coins are seriously going down) what is your plan to cash out? I am thinking of transferring to CEX.IO to sell and get USD back. Any better suggestion?
i feel not staying with 400usd eth , i just exchange eth to btc , sience btc so low now
Not sure if this is a good move. I had around 900 USD in CEX doing nothing hence, just bought 2 ETH. That one planning to keep long term. In Polo, super good exchange rate ETH to BTC
Seem that many claimed cloud mining is not profitable. Mind to share your Due diligence you have checked to go ahead with genesis-mining?
I have not documented my findings, so I couldn't share that with you. Sorry.
But like how everybody does it, I scoured the Internet for information on cloud mining in general, who the big players are, their track records, news reports, user reviews and reputation within the cryptocurrency mining community.
It took me about two weeks to come to the conclusion that Genesis and Hashflare are investible.
I read a summary of bitcoin development. Up and down but still sustaining. Some countries like Japan made it a recognized coin. And it's used as one of the medium for trading in Nasdaq. Our gov started looking into bitcoin to be implemented in local banks in future...
I was wondering.. Would the sifus here mind to share what are the holding power for bitcoin that it can sustain and bounce back despite some temporary downhill ?
Not sure if this is a good move. I had around 900 USD in CEX doing nothing hence, just bought 2 ETH. That one planning to keep long term. In Polo, super good exchange rate ETH to BTC
at the end people will keep btc , because btc limited supply , but eth unlimited supply ,
I read a summary of bitcoin development. Up and down but still sustaining. Some countries like Japan made it a recognized coin. And it's used as one of the medium for trading in Nasdaq. Our gov started looking into bitcoin to be implemented in local banks in future...
I was wondering.. Would the sifus here mind to share what are the holding power for bitcoin that it can sustain and bounce back despite some temporary downhill ?
Thanks in advance
the main reason for Bitcoin is illicit money transfer (capital control), illegal business & failing currency, and investment illicit outflow for China alone tops USD 100Bil annually and they (PRC) are out of options to invest in stocks, commodities as well as properties. trading volume in the world mainly comes from 3 exchanges in USD but, a few more asian exchanges is catching up in volume as well.
tight capital control countries 1. china (tight outflow) 2. Korea 3. India
illegal business on that side there are plenty of usage especially on silk road (drugs), online scams (demn nigerian scammer), credit card scams all use Bitcoin.
so the demand for bitcoin is already there. it's used to bypass cross country payment system as well as avoid identity detection
This post has been edited by AllnGap: Jun 12 2017, 10:03 PM
maybe this video will give you idea , about the btc and eth btc is like 100note , ppl wont take 100 go buy coffee but eth or other coin might become dailly spending coin , have value , but i dont feel is for storage saving
I have not documented my findings, so I couldn't share that with you. Sorry.
But like how everybody does it, I scoured the Internet for information on cloud mining in general, who the big players are, their track records, news reports, user reviews and reputation within the cryptocurrency mining community.
It took me about two weeks to come to the conclusion that Genesis and Hashflare are investible.
Thanks. It doesn't need to be documented.
What made you ventured into cloud mining instead of real mining?
Not too hard to get in - There was an initial DDOS but that's about it.
PS: Eh sorry didn't saw your above post bro. PPS: I've sent three transactions. The one I did not edit (with regards to gas, but I did increase transaction fees) got through.
This post has been edited by Enigmatic: Jun 12 2017, 10:24 PM
yeah but I'm sending 3 transactions at 50 Gwei, none of it went through, thing does have a cap, confirmation cap lulz
'Massive attacks on our network. Ethereum blockchain under heavy pressure. We are monitoring and all is well. However website API can't update.' From devs
Not too hard to get in - There was an initial DDOS but that's about it. PS: Eh sorry didn't saw your above post bro. PPS: I've sent three transactions. The one I did not edit (with regards to gas, but I did increase transaction fees) got through.
What made you ventured into cloud mining instead of real mining?
I don't like to tinker with computer hardware when it comes to investment.
Yes, I treat cryptocurrency mining as a business, not a hobby.
With mining hardware, we always have to deal with bios updates, driver optimization, OS updates, hardware component malfunction and replacement, downtime, electricity consumption, proper cooling, noise suppression, etc, etc.
When I first added the contract to my wallet, it showed up as 9,000,000,000,000,000,000 BNT tokens. LOL. Should have captured a screenshot for you guys. Fixed it by re-adding the contract (the real amount is a lot lesser).
There is no "malicious attack," Ethereum cant scale. Ether will scale when it gos full Proof Of Stake. I wish i could invest in bancor, it sounds really good on paper. I am full invested already in icos.
This post has been edited by Gss2k: Jun 12 2017, 11:23 PM
Still new. Went Cex.io site and the accept Crypto Capital as a funding method (deposit and withdrawal). Do you guys thing since a big exchange like CEX is using, they should be ok?
Guys dont do that to yourselves. Go for the localbitcoin page if you're dedicated enough. Better deals in there - at least compared to CEX.
It's a pain waiting for Luno authorization though.
+1.
I have buy and sell from local bitcoin multiple times.
Money credited almost instantly to my account when i sell and bitcoin release less than a minute from escrow once i have confirmed transfered.
Also make sure you buy/sell from reputable profile that have done 50-100 or more trades with flawless record. Dont just look at the cheapest sell offer or highest buy offer
Not a good day for cryptos. Market cap dropped slightly below USD 110 B due to correction. I noticed correction seems to happen when BTC or ETH reaches a certain price. Notice correction when ETH went past USD 100, 200 and 400. This time a double whammy with BTC reaching 3000 and ETH going past 400.
My ETF cryptofolio on Polo dropped about 20% in value (due to multiplier effect of BTC drop) but looks like coins are recovering. As usual, my strategy is HODL and not be affected by these "minor" corrections unless there are really bad news. And getting loan shark rates for BTS again.
Not a good day for cryptos. Market cap dropped slightly below USD 110 B due to correction. I noticed correction seems to happen when BTC or ETH reaches a certain price. Notice correction when ETH went past USD 100, 200 and 400. This time a double whammy with BTC reaching 3000 and ETH going past 400.
My ETF cryptofolio on Polo dropped about 20% in value (due to multiplier effect of BTC drop) but looks like coins are recovering. As usual, my strategy is HODL and not be affected by these "minor" corrections unless there are really bad news. And getting loan shark rates for BTS again.
i standby usd2K to fish in deep sea.. atm, no attractive altcoin
planning to throw into btc or eth first... but the price not so attractive
from my past experience looking at the correction.. ( for your own risk investment )
BCN, XRP, STRATIS will shoot up own correction over.. BCN i pump quite a lot this few days.. , XRP.. same old me, pumping through margin ( Base Price : 0.00009133 Liquidation Price : 0.00005971 ), stratis still floating around 270000 stats if drop below 250000 i will pump
This post has been edited by blueblueoutofblue: Jun 13 2017, 06:46 AM
i standby usd2K to fish in deep sea.. atm, no attractive altcoin
planning to throw into btc or eth first... but the price not so attractive
from my past experience looking at the correction.. ( for your own risk investment )
BCN, XRP, STRATIS will shoot up own correction over.. BCN i pump quite a lot this few days.. , XRP.. same old me, pumping through margin ( Base Price : 0.00009133 Liquidation Price : 0.00005971 ), stratis still floating around 270000 stats if drop below 250000 i will pump
I don't dare do anything at the moment as I feel insecure in these uncertain times. Mainly because ETH shot up so much. Also my BTC all locked up in lending.
BCN huh? Hmmmm.... I have been eyeing BCN and burst for quite some time. Has dropped quite a bit. Will read up on them again but I better start counting my ETF coins.... probably reaching 50 types of coins.....
Oh ya, I'm the crazy ETF Hodler so please don't follow me..... One day I will post up all my coins collection!
This post has been edited by kmarc: Jun 13 2017, 06:55 AM
I don't dare do anything at the moment as I feel insecure in these uncertain times. Mainly because ETH shot up so much. Also my BTC all locked up in lending.
BCN huh? Hmmmm.... I have been eyeing BCN and burst for quite some time. Has dropped quite a bit. Will read up on them again but I better start counting my ETF coins.... probably reaching 50 types of coins.....
Oh ya, I'm the crazy ETF Hodler so please don't follow me..... One day I will post up all my coins collection!
oh ya, another one, DGB , yesterday i bought it at 1023 stat today 1120, almost 10% gain for coin but i wanna hold long term
XRP not sure how long it will go up... hopefully can reach 10000 stat by end of week, else, it will keep tanking and floating around 9000-9300 stat although i pump margin at 9133.. already profit almost 20%... but am greedy.. GREEEEDYYY!!
This post has been edited by blueblueoutofblue: Jun 13 2017, 07:24 AM
GDAX. wall gotta see the magnitude of the sentiment. right now sell side almost 3x buyer. so it's bearish.
buyer side scattered. but seller wall is very strong.
before it broke upward 300 saw 3x buyer Vs 1x seller now it is opposite.
if i were you i will sell some now, then ready buy back around 350 or 300 there. dunt forget this was less than 300 2 days ago. so those whalers is already 33% in profit from 300 to 400
This post has been edited by AllnGap: Jun 13 2017, 08:55 AM
GDAX. wall gotta see the magnitude of the sentiment. right now sell side almost 3x buyer. so it's bearish.
buyer side scattered. but seller wall is very strong.
before it broke upward 300 saw 3x buyer Vs 1x seller now it is opposite. if i were you i will sell some now, then ready buy back around 350 or 300 there. dunt forget this was less than 300 2 days ago. so those whalers is already 33% in profit from 300 to 400
I'll reserve my judgment until the Chinese conference and Money 20/20.
Check your wallet address through etherscan, there should have a record in the token transfers tab.
I will try tonight and check.
QUOTE(krpto88 @ Jun 13 2017, 12:28 AM)
I think we will need to wait updates in MEW, not sure thou, ayam still new in crypto as well
meaning to say u sent 1 ETH but u got 200 BNT in return ?
my TX ID has 2 of 100BNT send to 2 address in its contract section. I am also new and this is my first time participating in such ICOs. is this normal guys?
I will try tonight and check. my TX ID has 2 of 100BNT send to 2 address in its contract section. I am also new and this is my first time participating in such ICOs. is this normal guys? hi thx
but what is this address? I will try it tonight
QUOTE
50/20/20/10 Token Distribution: 50% of BNT will be issued to the contributors in the fundraiser, 20% allocated to partnerships, community grants and public bounties, 20% to the Foundation’s long-term operating budget, 10% to founders, team members, advisors and early contributors. Founders and team contributors will be subject to a three year vesting schedule.
Yes it is normal. For every 1ETH raised, 200tokens will be created and 50% will be issued to the contributors.
All crypto holders, please beware of freewallet.org
Also, if you are using jaxx wallet please be careful too as there has been massive vulnerability exposed by the community few days ago, some funds have been reportedly stolen.
There is a column of 'Token Balances' at the right hand side of MEW. I suggest you to do your own research first before and even after asking some random on the internet. It is extremely dangerous to expect to be spoonfeed on information in the crypto fields, people can give you false information and worse, scam your money.
Someone impersonating Bancor at Twitter with the handler @BacnorNetwork and surprisingly people fall for the scam. Someone sent 30eth to the scammer. Lol
There is a column of 'Token Balances' at the right hand side of MEW. I suggest you to do your own research first before and even after asking some random on the internet. It is extremely dangerous to expect to be spoonfeed on information in the crypto fields, people can give you false information and worse, scam your money.
Someone impersonating Bancor at Twitter with the handler @BacnorNetwork and surprisingly people fall for the scam. Someone sent 30eth to the scammer. Lol
that is what I did, it wasn't reflected in my token balances yesterday.
Yeah just wait till the ICOs with actual products go live.
TenX isn't aiming towards people with access to debit cards already, they want the poorest 2 billion to be apart of the new economy.
Those 0.5% reward is going to outperform PoS in my view.
I think a lot of recent ETH multimillionaires are diversifying their holdings. That's why so much actually went to bancor and probably other new ICOs.
QUOTE(blueblueoutofblue @ Jun 13 2017, 07:22 AM)
oh ya, another one, DGB , yesterday i bought it at 1023 stat today 1120, almost 10% gain for coin but i wanna hold long term
XRP not sure how long it will go up... hopefully can reach 10000 stat by end of week, else, it will keep tanking and floating around 9000-9300 stat although i pump margin at 9133.. already profit almost 20%... but am greedy.. GREEEEDYYY!!
I bought DBG at 65 sats. Sold off 10% a couple of times when the gain was more than 1000+% but still have about 1000+% of initial capital.
Was looking at burst and bcn then noticed BTC lending rate at 0.45%. Straight away loaned out whatever BTC left. So no trading today, continuing my loan shark activities.
QUOTE(lyrilmaki @ Jun 13 2017, 10:09 AM)
Bitcoin has a massive drop.. But why LUNO exchange graph still that high? I can't get into BTC with current market's low price.
Either seller unwilling to sell or they would be making a lost if they sold lower. Some probably waiting for BTC prices to go up.
QUOTE(mois @ Jun 13 2017, 10:14 AM)
Same. Current price drop, no chance to enter that price. Localbitcoin and luno mostly still rm12.4k above
As above. That's why I seldom buy BTC now. I feel the premium is too ridiculous. Instead, I'm just selling a bit of my green coins to generate BTC.
This post has been edited by kmarc: Jun 13 2017, 10:32 AM
I think a lot of recent ETH multimillionaires are diversifying their holdings. That's why so much actually went to bancor and probably other new ICOs. I bought DBG at 65 sats. Sold off 10% a couple of times when the gain was more than 1000+% but still have about 1000+% of initial capital.
Was looking at burst and bcn then noticed BTC lending rate at 0.45%. Straight away loaned out whatever BTC left. So no trading today, continuing my loan shark activities. Either seller unwilling to sell or they would be making a lost if they sold lower. Some probably waiting for BTC prices to go up. As above. That's why I seldom buy BTC now. I feel the premium is too ridiculous. Instead, I'm just selling a bit of my green coins to generate BTC.
wow... 65 @_@ hopefully BCN can get 1000% gain as well
DGB potential was higher compare other coin actually... hmmm
thanks! is it if i add another 2gb ram for my laptop and it would be fine?
It's not referring to the Memory RAM. It's referring to the Graphic Card. Since your's is laptop, I don't see an option for you to do so unless you are using a external GPU. If you're going to do so, please get a gpu with 4gb and above
thanks! is it if i add another 2gb ram for my laptop and it would be fine?
the 2gb ram i mention is ram of gpu but not ram of laptop. ram of gpu cannot be upgraded. gpu=graphic processing unit aka graphic card. btw, it is not recommended to mine using laptop. mining generate a lot of heat and the heat will damage your laptop component, reducing component lifespan.
I think a lot of recent ETH multimillionaires are diversifying their holdings. That's why so much actually went to bancor and probably other new ICOs. I bought DBG at 65 sats. Sold off 10% a couple of times when the gain was more than 1000+% but still have about 1000+% of initial capital.
Was looking at burst and bcn then noticed BTC lending rate at 0.45%. Straight away loaned out whatever BTC left. So no trading today, continuing my loan shark activities. Either seller unwilling to sell or they would be making a lost if they sold lower. Some probably waiting for BTC prices to go up. As above. That's why I seldom buy BTC now. I feel the premium is too ridiculous. Instead, I'm just selling a bit of my green coins to generate BTC.
Pretty cool to be able to loan in out at 0.45. I only secured a rate of 0.21 just now
I think a lot of recent ETH multimillionaires are diversifying their holdings. That's why so much actually went to bancor and probably other new ICOs. I bought DBG at 65 sats. Sold off 10% a couple of times when the gain was more than 1000+% but still have about 1000+% of initial capital.
Was looking at burst and bcn then noticed BTC lending rate at 0.45%. Straight away loaned out whatever BTC left. So no trading today, continuing my loan shark activities. Either seller unwilling to sell or they would be making a lost if they sold lower. Some probably waiting for BTC prices to go up. As above. That's why I seldom buy BTC now. I feel the premium is too ridiculous. Instead, I'm just selling a bit of my green coins to generate BTC.
That's correct, I'm one of them, that's why I'm considering saving my financial game by cashing out to non-crypto assets such as real estate and more precious metals.
In crypto land it'll be much harder to replicate a yearly 39x gain for ETH, so I'm hunting down dividend yielding/utility tokens that has 5-10x potential, Omise, TenX and Status are prime candidates
That's correct, I'm one of them, that's why I'm considering saving my financial game by cashing out to non-crypto assets such as real estate and more precious metals.
In crypto land it'll be much harder to replicate a yearly 39x gain for ETH, so I'm hunting down dividend yielding/utility tokens that has 5-10x potential, Omise, TenX and Status are prime candidates
what's the minimum purchase for tenx? as in the entry level?
Pretty cool to be able to loan in out at 0.45. I only secured a rate of 0.21 just now
Yeah, usual rates for BTC is about that 0.1+% only.
QUOTE(WooTz @ Jun 13 2017, 11:40 AM)
That's correct, I'm one of them, that's why I'm considering saving my financial game by cashing out to non-crypto assets such as real estate and more precious metals.
In crypto land it'll be much harder to replicate a yearly 39x gain for ETH, so I'm hunting down dividend yielding/utility tokens that has 5-10x potential, Omise, TenX and Status are prime candidates
True, that's why I stopped buying ETH as I want to target others that may have potential for huge gains.
QUOTE(WooTz @ Jun 13 2017, 12:06 PM)
Public ICO on 26th, as little as you want, good luck though. 1 ETH = 420 PAY
Pre-sale started yesterday 7pm, currently at 25.8% done
Minimum 125 ETH or contract rejects the transaction.
WooTz, I have yet to look at TenX. Will research it tonight. Hypothetically, if one were to have 125 ETH, would it be advisable to go for the pre-sale?
I see. Let's see how the tokens is priced on listing.
20 pages? Hot topic ma.... bulls on the run, spectacular crashes, insane gains, ridiculous ICOs....
Owh the token is locked probably up to 7 day.
There are no news yet regarding exchanges. Bancor for sure will let their application service and smart contract going live first befor let BNT hit exchanges. Ppl buying new BNT token through the apps and smart contract is more benefit the price of BNT Because more new BNT created this will drives the price up.
And 80% fund that exceed the hiddencap- that is around 150k eth Will be use to buy back the bnt at ico price. So around 120k eth buy wall will be there.( not sure if this will happen or not- but theoretically that how it said)
There are no news yet regarding exchanges. Bancor for sure will let their application service and smart contract going live first befor let BNT hit exchanges. Ppl buying new BNT token through the apps and smart contract is more benefit the price of BNT Because more new BNT created this will drives the price up.
And 80% fund that exceed the hiddencap- that is around 150k eth Will be use to buy back the bnt at ico price. So around 120k eth buy wall will be there.( not sure if this will happen or not- but theoretically that how it said)
I see. Never did go so deep into that. Even my mobilego tokens, just waiting for it to list and hopefully shoot up. Oh well, let's see what happens then..
Can I verify my account with my mom's utility bills? I don't have any bills with my name stated yet Same address but different person. Has anyone done it before?
I use Maybank to transfer to their's.. So the transfer was instant. Maybe yours still waiting for GIRO?
Well, I'm using CIMB bank. But instead of GIRO I use instant bank transfer. Even if I'm using GIRO, since it's been so many days, should have updated I think.
guys, im trying to understand how do you want to enter ICOs? is it through their invite?
I only joined one but I think it is usually the same. Just go to their ICO crowdsale website and register. They will usually give you specific instructions on how to participate. The other way is thru parity node or MEW but I'm not familiar with that. Have to ask WooTz.
This post has been edited by kmarc: Jun 13 2017, 01:09 PM
Yeah, usual rates for BTC is about that 0.1+% only. True, that's why I stopped buying ETH as I want to target others that may have potential for huge gains. WooTz, I have yet to look at TenX. Will research it tonight. Hypothetically, if one were to have 125 ETH, would it be advisable to go for the pre-sale?
Only 125 ETH? maybe just put 5 ETH into ICO
Have 1000 ETH? yes
QUOTE(blueblueoutofblue @ Jun 13 2017, 12:14 PM)
it say 125 ETH.. i saw someone put 18 ETH? lol
Waste fees only, miners happy
QUOTE(thesnake @ Jun 13 2017, 12:46 PM)
guys, im trying to understand how do you want to enter ICOs? is it through their invite?
ICO concept is still new, many people experimenting with various ways to satisfy everyone.
By definition, ICO is really just: "Hey guys, we want to build a really good product, here's a demo and our background info, read the whitepaper, join slack and ask away!"
Then they set a date to collect the funds from public, problem is, whales always come and ruin the party for everyone.
So gnosis tried reverse dutch auction, which failed
Now TenX is doing a presale for whales, so that public gets a better chance of getting in on the ICO.
First page guide covers all forms of ICOs, ultimately you need to know what you're buying into, caveat emptor.
This post has been edited by WooTz: Jun 13 2017, 01:23 PM
Have 1000 ETH? yes Waste fees only, miners happy ICO concept is still new, many people experimenting with various ways to satisfy everyone.
By definition, ICO is really just: "Hey guys, we want to build a really good product, here's a demo and our background info, read the whitepaper, join slack and ask away!"
Then they set a date to collect the funds from public, problem is, whales always come and ruin the party for everyone.
So gnosis tried reverse dutch auction, which failed
Now TenX is doing a presale for whales, so that public gets a better chance of getting in on the ICO.
First page guide covers all forms of ICOs, ultimately you need to know what you're buying into, caveat emptor.
Have 1000 ETH? yes Waste fees only, miners happy ICO concept is still new, many people experimenting with various ways to satisfy everyone.
By definition, ICO is really just: "Hey guys, we want to build a really good product, here's a demo and our background info, read the whitepaper, join slack and ask away!"
Then they set a date to collect the funds from public, problem is, whales always come and ruin the party for everyone.
So gnosis tried reverse dutch auction, which failed
Now TenX is doing a presale for whales, so that public gets a better chance of getting in on the ICO.
First page guide covers all forms of ICOs, ultimately you need to know what you're buying into, caveat emptor.
thanks for the insight. My plan is to buy ETH and invest in these ICOs
I bought the Genesis ETH mining contract at 100MH/s for 2 years at USD2,715 (after 3% discount).
Cloud mining do not attract power cost nor maintenance fee for ethereum.
Here is the ROI computation at current price and mining difficulty.
essentially you are paying USD2715 for 2 years mining in exchange for an expected monthly income for usd723, breakeven is only 3.8 months, and 8 months later you have doubled your money, how on earth they are able to do that?
I smell money games structure here, please check are they even regulated.
essentially you are paying USD2715 for 2 years mining in exchange for an expected monthly income for usd723, breakeven is only 3.8 months, and 8 months later you have doubled your money, how on earth they are able to do that?
I smell money games structure here, please check are they even regulated.
wtf dare to buy 2715usd ? i just spend 86usd for 3MH on genesis mining
my first month i get around 32usd back ...still rugi 54usd
BTW ....anyone know how this Litecoin core wallet works ? i receive payment then wallet show nothing ...damn stupid this litecoin core. lucky only 0.70usd worth of litecoin. Now i download LoafWallet for litecoin in IOS looks easier to use.
Dear wengherng & WooTz, it has come to my attention that (Wah! So formal) there is currently a serious problem with the term "Bitcoin & Altcoin". As you all know, bitcoin is the father of cryptocurrencies and its children has risen high and far. This is particular true of ETH, rising through the ranks and making a name for itself. As such, I would formally like to request that ETH is not considered part of "altcoins" anymore and herein be termed as a coin by itself, just like bitcoin. As such, it would be appropriate to change the title of this thread to "Bitcoin, ETH and other cryptocurrencies", assuming you can squeeze all those words in. I'm sure WooTz would agree whole-heartedly. Yours sincerely, crazy hodler
Dear wengherng & WooTz, it has come to my attention that (Wah! So formal) there is currently a serious problem with the term "Bitcoin & Altcoin". As you all know, bitcoin is the father of cryptocurrencies and its children has risen high and far. This is particular true of ETH, rising through the ranks and making a name for itself. As such, I would formally like to request that ETH is not considered part of "altcoins" anymore and herein be termed as a coin by itself, just like bitcoin. As such, it would be appropriate to change the title of this thread to "Bitcoin, ETH and other cryptocurrencies", assuming you can squeeze all those words in. I'm sure WooTz would agree whole-heartedly. Yours sincerely, crazy hodler
Well, the term "altcoin" was used in the early days to denote every other cryptocurrency that is not bitcoin, so ETH by default *is* an altcoin. By the way, it is also important to note that the term "altcoin" does NOT have any negative connotation to it......it doesn't mean that an altcoin is somehow inferior to bitcoin, nor does it mean that the coin with the highest market cap is the "main" coin while all others are "alternative" coins. It's just a term of reference.
That said, however, I do get where you're coming from.
How about we dispense totally with the actual names of coins, and just call this thread the "Cryptocurrencies Thread"? What say you?
Well, the term "altcoin" was used in the early days to denote every other cryptocurrency that is not bitcoin, so ETH by default *is* an altcoin. By the way, it is also important to note that the term "altcoin" does NOT have any negative connotation to it......it doesn't mean that an altcoin is somehow inferior to bitcoin, nor does it mean that the coin with the highest market cap is the "main" coin while all others are "alternative" coins. It's just a term of reference.
That said, however, I do get where you're coming from.
How about we dispense totally with the actual names of coins, and just call this thread the "Cryptocurrencies Thread"? What say you?
Haha. Just a thought. New comers only know about bitcoin. Just leave it as it is.
Haha. Just a thought. New comers only know about bitcoin. Just leave it as it is.
No worries. I don't have a problem with changing the thread title, actually, if that's what everyone wants and if that's going to help spread awareness.
No worries. I don't have a problem with changing the thread title, actually, if that's what everyone wants and if that's going to help spread awareness.
QUOTE(WooTz @ Jun 13 2017, 02:37 PM)
Cryptocurrencies thread seems fine
Not a problem. Just keep it as it is.
Anyway, NXT is shooting! I'm now flying blind as I can't get any hot news on coins. Damn Polo for stopping the trollbox.
Hi guys, been trading for awhile now on polo. decided to participate actively in this thread from now onwards. very glad to see that the thread is growing together with the cryptocurrency world. Currently im into cheap currency XRP, DOGE, DGB, GNT and few others. partially hodling and partially trading (with an aim to be like WooTz, of cos). hahahaha
I noticed some exchanges, the BTC prices were as low as USD2,500 but our own Luno, XbitAsia,localbitcoins are all much higher at around 2.8-2.9k.
Which are the recommended exchanges that we can buy BTC directly with credit card and also later convert to Ethereum in the same exchange? CEX IO? I noticed CEX IO has ETH/USD pair, does it mean we can buy ETH directly using credit card?
Sorry kinda new here..
This post has been edited by -kytz-: Jun 13 2017, 03:52 PM
Hi guys, been trading for awhile now on polo. decided to participate actively in this thread from now onwards. very glad to see that the thread is growing together with the cryptocurrency world. Currently im into cheap currency XRP, DOGE, DGB, GNT and few others. partially hodling and partially trading (with an aim to be like WooTz, of cos). hahahaha
I noticed some exchanges, the BTC prices were as low as USD2,500 but our own Luno, XbitAsia,localbitcoins are all much higher at around 2.8-2.9k.
Which are the recommended exchanges that we can buy BTC directly with credit card and also later convert to Ethereum in the same exchange? CEX IO? I noticed CEX IO has ETH/USD pair, does it mean we can buy ETH directly using credit card?
Sorry kinda new here..
Yes however as you've noticed, the rate is higher as well. However if you're buying for trading purpose, it would be alright.
Personally, I've never had any problems with Poloniex withdrawals. During times of extreme volatility, they do disable withdrawals or deposits for a certain time (presumably to protect their position and to control arbitrage), and now and then, they will routinely disable withdrawals for a day for maintenance, but other than that, I've never really had any problems with them.
I don't particularly like Poloniex for a variety of reasons, but withdrawals is not one of them.
No stranger to strange milestones, the cryptocurrency sector may soon see a historic first, one that could upend long-held perceptions of its market.
Branded 'The Flippening' by market observers, this new hypothetical is defined loosely as the point at which a competing blockchain network could replace bitcoin as the largest and best capitalized blockchain. Sparked by increasing inflows in cryptographic assets, the concept has already seen a dedicated hashtag and website.
Given that bitcoin invented and popularized blockchain systems, the development could herald a time of new diversity and experimentation for the nascent sector that, until recently, was largely defined in context of bitcoin. ADVERTISEMENT
At earlier points in 2017, bitcoin accounted for more than 80% of the total cryptocurrency market share, though this figure has been higher than 90% at times.
However, so-called alternative cryptocurrencies have drawn robust inflows this year, causing their total market cap to reach a record high of roughly $117m today, a more than 500% year-to-date increase, according to CoinMarketCap.
So, will the event come to pass? And if so, what will it mean?
Analysts queried by CoinDesk largely believe ethereum's ether token is most likely to spur the change, given it has increased 3,000% this year with no signs of slowing.
Indeed, ether's market cap has been drawing steadily close to bitcoin's amid a broader uptick in interest for so-called 'tokens' based on the platform, with the two cryptocurrencies worth $35.9bn and $43.7bn at the time of report.
Bitcoin's governance problems
Still, while some analysts focused on the promise of the ethereum network, others emphasized the perceived difficulties bitcoin has encountered of late as the reason this development could be likely.
Developers and entrepreneurs building on bitcoin are still trying to figure out the best way to resolve its ongoing scaling dilemma, a matter which some allege is limiting the cryptocurrency's use as a medium of exchange. (Though, perhaps benefitting its use as a store of value).
Currently, blocks in bitcoin's blockchain can only include up to 1 MB of transaction date, meaning that they can only process a fixed number of exchanges. Thus far, proposals to increase the block size have failed, and efforts to implement Segregated Witness – a solution that would reduce the total size of each individual transaction and allow more of these to fit into blocks – have failed to gain the needed support.
Other proposals have largely proved short-lived or polarizing.
"Bitcoin is still stuck at [the] scaling dilemma," said Marius Rupsys, cryptocurrency trader and co-founder of fintech startup InvoicePool. "If some kind of agreement were achieved, [bitcoin] could regain much of its dominance."
However, the bitcoin community has not yet found a solution, so ether is benefiting from the situation, he said. As markets respond to these developments, Rupsys expects ether's market capitalization, or the total value of its available token supply, to surpass bitcoin's.
Bitcoin, the first cryptocurrency to scale, has to an extent become "a victim of its own success," said Tim Enneking, managing director of the cryptocurrency hedge fund Crypto Asset Fund.
He also noted that ether has benefited from coming into existence after bitcoin, telling CoinDesk:
"Ether has learned and has fewer problems – as well as a comprehensive, coherent (more or less) roadmap going forward. It also has leadership. Bitcoin has none of that. And first-mover advantages dissipate if one doesn't continue to innovate."
Charles Hayter, co-founder and CEO of cryptocurrency exchange service CryptoCompare, was also optimistic that ethereum could become the dominant blockchain.
"Ether has a strong chance of surpassing bitcoin due to its strong network effect and ability to negate the governance issues that bitcoin has been subject to," he said. ICOs crucial
Some market observers emphasized the key role played by token sales (or ICOs) when explaining why ether's market cap might surpass that of bitcoin's.
As these offerings allow participants to exchange bitcoin and ether for digital 'tokens' that grant exposure to new ventures, investors purchasing these tokens (contracts on the ethereum network) frequently use ether because they don't want to miss out.
Further, the concentration of ether in the hands of a smaller set of startups is creating new economic pressures on the network.
"This keeps many ethers locked up in new projects and [fewer] ethers are available for trading," Rupsys noted.
Bitcoin entrepreneur Charlie Shrem offered a similar sentiment, noting: "Right now, an immense supply of ETH gets locked up due to [ICOs]." This "severely reduces supply," and with each offering, more tokens are "locked up", he explained.
Still, projects using this method of fundraising are going to sell some of the ether tokens they raise to pay for development, he said, meaning sell pressure could increase in should this begin in earnest. Bubbles and potentials
While many analysts provided optimistic assessments of ether's future, some expressed concerns that the cryptocurrency is in bubble territory.
Petar Zivkovski, COO of leveraged cryptocurrency platform Whaleclub, asserted that ether's price is tied heavily to the ICOs that use the alternative asset protocol.
"I personally think ether price is incredibly overpriced, and that many of the ICOs funded will not deliver on all their promises. When that unravels, it's likely to cause a substantial crash in the ether price," he said.
However, he did leave open the possibility that ether's market cap could surpass bitcoin's, depending on how much success ether-based ICOs produce.
Still, analysts also emphasized the influence both networks could have on the world.
While bitcoin could revolutionize the world of currency, ether could have more a wide-ranging influence through its use of smart contracts.
Mati Greenspan, senior markets analyst at asset trading platform eToro, spoke to this potential.
He added that, given its expansive goals, it might be likely for ether to surpass bitcoin in terms of market cap and price, though it may not have the largest network effect by other means.
Greenspan concluded:
"The development of both bitcoin and ethereum have far-reaching implications for our future world. Respectively, bitcoin and ethereum represent the future of money and the future of the internet."
My opinion, it is not a matter of IF, it is a matter of WHEN.
This post has been edited by kmarc: Jun 13 2017, 05:11 PM
most of altcoin paired with BTC, if BTC market cap share gobble up by other altcoin, there will be some storm in cryptocurrency world, of course, all this depend on those big whaler out there. Unless, there will be more alt/eth pairing, BTC is too huge now, it will catastrophe event if it does happen ( touch wood! )
""I personally think ether price is incredibly overpriced, and that many of the ICOs funded will not deliver on all their promises. When that unravels, it's likely to cause a substantial crash in the ether price," he said.""
Quite scary too...
This post has been edited by blueblueoutofblue: Jun 13 2017, 05:15 PM
most of altcoin paired with BTC, if BTC market cap share gobble up by other altcoin, there will be some storm in cryptocurrency world, of course, all this depend on those big whaler out there. Unless, there will be more alt/eth pairing, BTC is too huge now, it will catastrophe event if it does happen ( touch wood! )
""I personally think ether price is incredibly overpriced, and that many of the ICOs funded will not deliver on all their promises. When that unravels, it's likely to cause a substantial crash in the ether price," he said.""
Quite scary too...
My thinking - not necessary so. Flippening in that ETH overtakes BTC in market cap. However, I think BTC will still rise and in fact, for altcoins' sake, BTC HAS TO RISE!
My thinking - not necessary so. Flippening in that ETH overtakes BTC in market cap. However, I think BTC will still rise and in fact, for altcoins' sake, BTC HAS TO RISE!
$380 isn't overpriced, and once the ICO bubble pops, the corrections will last days at most. Cause people/robots will buy the next generation internet at a bargain rate.
$380 isn't overpriced, and once the ICO bubble pops, the corrections will last days at most. Cause people/robots will buy the next generation internet at a bargain rate.
They don't pop all at once, silly coindesk
Hey wootz, are you planning to invest in the status ICO? I think it's got a bright future but not sure if I can get in, any advice in regards to gas price?
Hey wootz, are you planning to invest in the status ICO? I think it's got a bright future but not sure if I can get in, any advice in regards to gas price?
Pay 10-30 dollars in fees to avoid the headache.
Or wait until it gets listed on exchanges at a much higher premium.
I noticed some exchanges, the BTC prices were as low as USD2,500 but our own Luno, XbitAsia,localbitcoins are all much higher at around 2.8-2.9k.
Which are the recommended exchanges that we can buy BTC directly with credit card and also later convert to Ethereum in the same exchange? CEX IO? I noticed CEX IO has ETH/USD pair, does it mean we can buy ETH directly using credit card?
Sorry kinda new here..
Quoting Andreas - (Subtitute Rupees to RM from the video (start at 4:46))
"The value of Bitcoin didnt change. The reason it takes more [RM] to buy a Bitcoin, is because [RM] is worth less than Bitcoin. Why? Because you cant move [RM] across the border. Because you cant move it across, the [RM] is discounted, depreciated against the hard-asset which is Bitcoin, which can move across borders...." The problem is not Bitcoin is 10% more expensive in Malaysia. The problem is that the RM is worth 10% less in Bitcoin than the USD is. The price difference does not tell something about Bitcoin, it tells something about RM.
Yes, COMIT tracks all token holder address and updates their share accordingly, possibly daily or weekly payouts.
More users transacting with TenX card, more ETH for token holders! Greed knows no bounds, expect more whale action when ICO comes. Put 500Gwei if you're up for it!
gracias senpai!
but how does the 0.5% calculated? comparing a 1000ETH owner and 1ETH owner.
What i had tested with Genesis Mining Bitcoin is that their bitcoin mining need to take 5 months to ROI
1 whole month i only made 0.00213912BTC which is almost 6usd and investment is 30USD (0.2TH)
then i switch to litecoin for 2 days i get 0.03794783 LTC/ 0.70usd.... and same investment just change it to mine litecoin and in 3 months can ROI already
FxJS5q my 3% code
This post has been edited by cofin: Jun 13 2017, 07:04 PM
Can kindly advise, if im going to send usd 500 n BTC,
Which BTC-Currency converter should i based on ?
Because i chk out in one if the converter website,
1 btc = 11000 ++ MYR
While in USD, 1 BTC = 2753.83 USD
I did the conversion based on one of the website, but the btc result in USD from that website and btc result in Myr from Luno, there are quite a big gap.
Im quite confused..
What should be the correct " sequence " of conversion ?
Because the US recipient just told me that "money has to be converted into USD "
What i had tested with Genesis Mining Bitcoin is that their bitcoin mining need to take 5 months to ROI
1 whole month i only made 0.00213912BTC which is almost 6usd and investment is 30USD (0.2TH)
then i switch to litecoin for 2 days i get 0.03794783 LTC/ 0.70usd.... and same investment just change it to mine litecoin and in 3 months can ROI already FxJS5q my 3% code
Welcome to the Genesis Mining club.
I noticed you purchased the cheapest Bitcoin Open-Ended mining contract for $30 with hashpower 0.2 TH/s.
One thing you need to watch out for is the computation of the daily maintenance fee, which will be deducted from your daily payout (computed at $0.28 per 1 TH/s per day). For your plan, it is $0.056 per day.
At current Bitcoin price and mining difficulty level, you are averaging only $0.20 per day AFTER deducting maintenance fee.
If the price of Bitcoin drops significantly or the mining difficulty level increases exponentially, your daily Bitcoin payout may not be sufficient to cover the maintenance fee. If this situation persists for 60 consecutive days, Genesis will terminate your contract due to non-profitability.
It is safer to purchase a much higher hashpower plan, say 20 TH/s, to ensure that the maintenance fee can be covered, unless the price of Bitcoin drops to below $700 for 60 days, which is very unlikely.
Bitshares (BTS) has been surging in trading volume to top 4 lately, ain't nobody start investing in this coin? It's been around for years and it is only gaining traction lately. It seems very promising and I wonder why nobody is talking about this.
Can kindly advise, if im going to send usd 500 n BTC,
Which BTC-Currency converter should i based on ?
Because i chk out in one if the converter website,
1 btc = 11000 ++ MYR
While in USD, 1 BTC = 2753.83 USD
I did the conversion based on one of the website, but the btc result in USD from that website and btc result in Myr from Luno, there are quite a big gap.
Im quite confused..
What should be the correct " sequence " of conversion ?
Because the US recipient just told me that "money has to be converted into USD "
Thanks in advance.
i am not sure if cc can be accepted in luna. check out localbitcoins instead? price seems to be cheaper for now
Can kindly advise, if im going to send usd 500 n BTC,
Which BTC-Currency converter should i based on ?
Because i chk out in one if the converter website,
1 btc = 11000 ++ MYR
While in USD, 1 BTC = 2753.83 USD
I did the conversion based on one of the website, but the btc result in USD from that website and btc result in Myr from Luno, there are quite a big gap.
Im quite confused..
What should be the correct " sequence " of conversion ?
Because the US recipient just told me that "money has to be converted into USD "
Thanks in advance.
QUOTE(PrincZe @ Jun 13 2017, 08:06 PM)
i am not sure if cc can be accepted in luna. check out localbitcoins instead? price seems to be cheaper for now
i dont think most exchange offer RM11K for one BTC.. all above RM12K
I noticed you purchased the cheapest Bitcoin Open-Ended mining contract for $30 with hashpower 0.2 TH/s.
One thing you need to watch out for is the computation of the daily maintenance fee, which will be deducted from your daily payout (computed at $0.28 per 1 TH/s per day). For your plan, it is $0.056 per day.
At current Bitcoin price and mining difficulty level, you are averaging only $0.20 per day AFTER deducting maintenance fee.
If the price of Bitcoin drops significantly or the mining difficulty level increases exponentially, your daily Bitcoin payout may not be sufficient to cover the maintenance fee. If this situation persists for 60 consecutive days, Genesis will terminate your contract due to non-profitability.
It is safer to purchase a much higher hashpower plan, say 20 TH/s, to ensure that the maintenance fee can be covered, unless the price of Bitcoin drops to below $700 for 60 days, which is very unlikely.
Anyway, good luck with your testing.
I just read the Genesis Mining FAQ under "Contracts" and it states the 60 days unprofitability clause.
I guess those cheapest-plan investors are crying foul over this, and calling Genesis Mining a scam.
Bitshares (BTS) has been surging in trading volume to top 4 lately, ain't nobody start investing in this coin? It's been around for years and it is only gaining traction lately. It seems very promising and I wonder why nobody is talking about this.
We all hold bunch of alt coin and most of us dont even bither to list out specifically what we hold...
I personally hold up to 12-15 alt coin at any one time and BTS is among i used/currently own.
Lol u mean everyone is buying everything without the need to study the coin investing in?
I dont dare to talk about other people but for hedger like me i hold couple of these alt coin hedging against bitcoin with auto sell price profit if it hits too high...and buy when some alt coin drop considerably...
I dont put any emotional attachment to any coin and just read casually info of any coin that i bought...most of this coin i bough will be auto sold within weeks...and the process is rinse and repeat...
Such elemantary method but youd be suprise how many thousand percent i have gain in such short period of time by just hedging...
I dont dare to talk about other people but for hedger like me i hold couple of these alt coin hedging against bitcoin with auto sell price profit if it hits too high...and buy when some alt coin drop considerably...
I dont put any emotional attachment to any coin and just read casually info of any coin that i bought...most of this coin i bough will be auto sold within weeks...and the process is rinse and repeat...
Such elemantary method but youd be suprise how many thousand percent i have gain in such short period of time by just hedging...
I dont dare to talk about other people but for hedger like me i hold couple of these alt coin hedging against bitcoin with auto sell price profit if it hits too high...and buy when some alt coin drop considerably...
I dont put any emotional attachment to any coin and just read casually info of any coin that i bought...most of this coin i bough will be auto sold within weeks...and the process is rinse and repeat...
Such elemantary method but youd be suprise how many thousand percent i have gain in such short period of time by just hedging...
I see. Do you have a bot to do the trading for you or you place limit orders manually on the exchange?
I see. Do you have a bot to do the trading for you or you place limit orders manually on the exchange?
Manual. Id make a habit everytime i buy in a dropping crypto, immediately i would calculate the buying lrice+20/25/30% profit and que to sell at that target price...
Manual. Id make a habit everytime i buy in a dropping crypto, immediately i would calculate the buying lrice+20/25/30% profit and que to sell at that target price...
actually i have done my research on BTC and ETH only. other than that i wont touch because it's like buying lottery. actually it's like 4D number cuz there are 700+ coins out there i believe we are in a super bubble phase like 2001 tech stocks bubble where everyone who can ICO is guaranteed to become a super millionaire.
the 2001 tech stock bubble also same, whatever that can be IPO, investor will buy, pump it upward 20% then leave it to rot. plenty of investor dunno what shit they bought also
funny a lot of coins out there got no practical usage yet it's being pumped and dumped all the way. when everybody buys because they gonna get rich (no apparent reason), thats when something will pop.
This post has been edited by AllnGap: Jun 13 2017, 09:36 PM
Manual. Id make a habit everytime i buy in a dropping crypto, immediately i would calculate the buying lrice+20/25/30% profit and que to sell at that target price...
Good strategy. i'm surprise that by taking profit at 20~30% can make you over thousands percents return. i guess that is the power of compounding.
Are you being selective in certain range of coins you buy? Or purely based on any coin that price had dropped significantly in coin price?
actually i have done my research on BTC and ETH only. other than that i wont touch because it's like buying lottery. actually it's like 4D number cuz there are 700+ coins out there i believe we are in a super bubble phase like 2001 tech stocks bubble where everyone who can ICO is guaranteed to become a super millionaire.
the 2001 tech stock bubble also same, whatever that can be IPO, investor will buy, pump it upward 20% then leave it to rot. plenty of investor dunno what shit they bought also
funny a lot of coins out there got no practical usage yet it's being pumped and dumped all the way. when everybody buys because they gonna get rich (no apparent reason), thats when something will pop.
I think the same as you. Im only using alt coin as a mean to increase my btc. As some alt coin appreciate faster to bitcoin. And bitcoin appreciate too. Such factor make it example: u buy btc at 1k usd and now its 3k usd youd suppose to double your money.
But because u buy btc and hedge to some alt coin instead of 200% youd be making somewhere 400-600%
and some DGB as well not bad, not bad.. DGB now 10% in term of coin profit
but in term of BTC
Nice nice! DGB already +30%!
QUOTE(jrmsong @ Jun 13 2017, 08:05 PM)
Bitshares (BTS) has been surging in trading volume to top 4 lately, ain't nobody start investing in this coin? It's been around for years and it is only gaining traction lately. It seems very promising and I wonder why nobody is talking about this.
Got la. Bought at 350 sats. Already 3700% gain. Also earned about 400 BTS from loans so far. Most of it these few days due to increase loan demand
Nice nice! DGB already +30%! Got la. Bought at 350 sats. Already 3700% gain. Also earned about 400 BTS from loans so far. Most of it these few days due to increase loan demand
it was 40% an hour ago.. now drop below 30%, it will definitely drop to 1000 stat again, then i will pump again
I think the same as you. Im only using alt coin as a mean to increase my btc. As some alt coin appreciate faster to bitcoin. And bitcoin appreciate too. Such factor make it example: u buy btc at 1k usd and now its 3k usd youd suppose to double your money.
But because u buy btc and hedge to some alt coin instead of 200% youd be making somewhere 400-600%
actually i have done my research on BTC and ETH only. other than that i wont touch because it's like buying lottery. actually it's like 4D number cuz there are 700+ coins out there i believe we are in a super bubble phase like 2001 tech stocks bubble where everyone who can ICO is guaranteed to become a super millionaire.
the 2001 tech stock bubble also same, whatever that can be IPO, investor will buy, pump it upward 20% then leave it to rot. plenty of investor dunno what shit they bought also
funny a lot of coins out there got no practical usage yet it's being pumped and dumped all the way. when everybody buys because they gonna get rich (no apparent reason), thats when something will pop.
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.
QUOTE(blueblueoutofblue @ Jun 13 2017, 09:55 PM)
it was 40% an hour ago.. now drop below 30%, it will definitely drop to 1000 stat again, then i will pump again
I last sold a bit at 1516 so I won't sell unless it goes higher than that.
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.
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.
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?
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?
Does anyone know what wallet can keep Siacoin? or you guys just leave it on the exchange?
They have a sia wallet but I have not used it before. Mine still on exchange.
QUOTE(AllnGap @ Jun 13 2017, 11:09 PM)
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 ??
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
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.
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
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
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?
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.
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 ??
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.
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.
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
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.
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.
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.
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.
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?
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.
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.
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.
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.
Me too. I still think we are still at the infancy of cryptocurrencies and this bull has much legs to run.
QUOTE(shankar_dass93 @ Jun 14 2017, 12:09 AM)
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.
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.
QUOTE(Enigmatic @ Jun 14 2017, 01:04 AM)
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.
» Click to show Spoiler - click again to hide... «
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.
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
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.
usually for any asset class. if there's a crisis, ppl will chop their profitable position to fund their emergency usage. so if economy crisis ppl will dump their coins for cash also wan. u can't hold if you're losing your house.
I think until mainstream media everyday report crypto currency then the bubble will be almost burst d. right now not yet. this year only exponential move start to come. plus margin trade exchanges all start to explode in volume.
all the crazy swings upward and downward is funded by margin ya.
Excluding BTC, I have 41 types of coins on Polo and 10 types of coins on Bittrex. MGO token in wallet. That makes my EFT collection roughly at 53 types of coins
Yes, I can officially be labelled as crazy.
Why so many coins? Because one never knows which one will shoot to the stars. Some already shot to the moon and I just need a couple of coins to shoot.
Oops, time to go to work!
This post has been edited by kmarc: Jun 14 2017, 07:02 AM
Excluding BTC, I have 41 types of coins on Polo and 10 types of coins on Bittrex. MGO token in wallet. That makes my EFT collection roughly at 53 types of coins
Yes, I can officially be labelled as crazy.
Why so many coins? Because one never knows which one will shoot to the stars. Some already shot to the moon and I just need a couple of coins to shoot.
Oops, time to go to work!
Now that Prism has dropped that 1% monthly fee, I think I'll copy all your trades just for fun!
Sadly until now no news on closed beta invite, really hope I can try soon.
Excluding BTC, I have 41 types of coins on Polo and 10 types of coins on Bittrex. MGO token in wallet. That makes my EFT collection roughly at 53 types of coins
Yes, I can officially be labelled as crazy.
Why so many coins? Because one never knows which one will shoot to the stars. Some already shot to the moon and I just need a couple of coins to shoot.
Oops, time to go to work!
you should try post some trade ( for your own investment risk ) like Etoro.. we can copy successful trader like you or Wootz
After camping for 3 days, finally XRP start moving up ( ok, i love to play margin with XRP ) after saturday, will cool off another 14 days cycle
This post has been edited by blueblueoutofblue: Jun 14 2017, 07:15 AM
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 u already answered it yourself.
BTC wont die wan, simply because the quantity is limited. Asians are simply very strong hoarders too. i went to ask around those with a lot of BTC, they wont even wanna sell some these few days. it's those CC created dunno for what LOL reasons will. simply there are no practical usage of it. purely speculation or pump and dump
the only way to make money is to buy low and sell high. and to stomach that buying low is against human nature, thats why small percentage of ppl can become trader or most of the ppl only buy when it's going up, next thing to know it dropped like a hammer so they make -20% loss on their first purchases. when it's going up, ppl are greedy and impulsive, when it's dropping, ppl are fearful that it might drop more.
i can definitely answer you that most of the volatile moves are from margin trades from exchanges. those 3 with margin trades borrowing limits spike a few hundred millions USD before prices move.
if one day u see daily transaction volume drop tremendously. or one fine day US regulators decided to close down those margin exchanges. things are going to get very boring whalers not interested to even move it, then u know you should look elsewhere.
This post has been edited by AllnGap: Jun 14 2017, 07:25 AM
Dear wengherng & WooTz, it has come to my attention that (Wah! So formal) there is currently a serious problem with the term "Bitcoin & Altcoin". As you all know, bitcoin is the father of cryptocurrencies and its children has risen high and far. This is particular true of ETH, rising through the ranks and making a name for itself. As such, I would formally like to request that ETH is not considered part of "altcoins" anymore and herein be termed as a coin by itself, just like bitcoin. As such, it would be appropriate to change the title of this thread to "Bitcoin, ETH and other cryptocurrencies", assuming you can squeeze all those words in. I'm sure WooTz would agree whole-heartedly. Yours sincerely, crazy hodler
Dear wengherng , WooTz & kmarc, please PM me directly.
I've just had a large community meetup last Monday in Bangsar and would like to rope you guys in for my other events.
very clearly to see everyone is holding btc now , luno still holding very premium price , and localbitcoin can clearly see nobody selling right now , we will see next week what is going to happen
Sorry to distract you.I am totally new on this topic.Iam very interested to join Genesis mining 10H/M I would like to know your Type of pc you use for mining. Thank you in advace
Sorry to distract you.I am totally new on this topic.Iam very interested to join Genesis mining 10H/M I would like to know your Type of pc you use for mining. Thank you in advace
I am afraid you are mistaken.
I don't use my own PC for mining.
I purchased a 2-year Ethereum mining contract with Genesis Mining.
If you want to join Genesis, you can use my code below and get a 3% discount on your purchase.
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.
There are 2 parties in China - I don’t have wallets from either as I don’t know how they collect the funds. They just update us and we trust them. We are at around 80-85k ETH right now. Confirmed period for people is until Wednesday Midnight New York (so still over 24hrs) - then I will start opening up for waiting list. So, I think we are in perfect plan.
Damn, TenX is rolling in it despite being so obscure for now, smart money confirmed.
Am I the only one here participating in the presale?
We should totally set up a smart contract to pool up all our tiny funds and join in on future pre-sales.
Hey what's the deal with this IOTA...? I haven't been following the news lately, and suddenly see this new fellow just barge through the front door and settle down comfortably in the Top Ten.
For goodness' sake, it started with a market cap of USD 1.76 Billion!
Jun 10 2017, 12:08 AM, updated 5y ago
Quote
I am not in the financial sector and am not a pro-trader. Just a normal guy and the following is only my opinion. You should do your own research and buy the coins which you think is good. Lose money don't blame me!
Before you stomp away upset, do note that the rates are quoted 
..... but still 
( Base Price : 0.00009133 Liquidation Price : 0.00005971 
today 1120, almost 10% gain for coin but i wanna hold long term 
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