Khairulorama- Life and work notes

Pain is the predecessor of success.

Bitcoin in Malaysia?! Highest BTC transfer! Bitcoin Power!

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I went to Low Yat Plaza last Saturday, and I had asked whether I can find a Bitcoin in Malaysia. I understand this bitcoin thing is still unclear whether it is  a hoax or a commodity. Bitcoin apparently is already accepted a mode of payment in Canada, US and China.

Quote from Wikipedia

 Bitcoins are increasingly used as payment for legitimate products and services, and merchants have an incentive to accept the currency because transaction fees are lower than the 2 to 3% typically imposed by credit card processors. Notable vendors include OkCupid, Reddit, WordPress, and Chinese Internet giant Baidu.

Big names in the rapidly growing internet world are using bitcoin for transactions.

So because of its nature as something new and can be invested I was really intrigued by the nature of this cyber thing. Bitcoin can be speculated like other prices in Malaysia ( that is to say property)

Why should you be interested in Bitcoins?

1. Bitcoins are anonymous!

It is still possible to trace the identity of a true identity but it would require great difficulties to a laymen person that is!

2. Bitcoins are difficult to understand

Money is also a difficult thing to understand. It does not make sense why I bought something and the value decreases instead of increased. Bitcoins also has that same nature, difficult to understand the works of bitcoins.

3. Payment of Bitcoins is Cash Worldwide!

You see, transaction in the internet world are often credit based. But bitcoins you can send to another person like it is a cash! The other person would receive  it over the internet just like cash does.

From Wiki

The fees and delays involved in transferring money across borders via bitcoin are small compared to those imposed by banks and their intermediaries in the standard way: pennies compared to dollars and minutes compared to days

4. Transaction are irreversible

Either you want it or you do not want it!

5. The currency is both real and elusive!

How cool is that.

6. Even Winklevoss are investing in it!

Do you know who is Winklevoss? It you do not no, then dont buy Bitcoin!

S0 did I find  Bitcoins from Supplier in Malaysia. No!

So how much is bitcoin value at right now! ! Bitcoin or BTC is about $ 1000 USD!

So will bank negara allow Bitcoins? I doubt it! It is a true bubble!

Malaysia is still infant in Bitcoins! Infant and traditionalist i would say.

The highest Bitcoin transfer would be this I guess!

bitcoins

240BTC! roughly equivalent to $ USD 240,000 probably the guy is cashing it!

This one even crazier 9 900 BTC – 5/12/2013

bitcoins2

Bitcoin diehard core fans are investing and protecting the Bitcoins Power, It is a World Order!

Just watch and learn this!

 

 

Updated 4.1.2014

Told you so, Bank Negara wouldnt let this digital currency co exist.

http://www.themalaymailonline.com/malaysia/article/bank-negara-warns-of-bitcoin-risks-as-digital-currency-rises

KUALA LUMPUR, Jan 4 — Bitcoin is not legal tender in Malaysia, Bank Negara Malaysia (BNM) said as use of the digital currency gains popularity among speculators and investors.

BNM issued the statement in the wake of warnings by several other central banks worldwide, but stopped short of banning the currency.

“The Bitcoin is not recognised as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin,” it said in a statement yesterday.

– See more at: http://www.themalaymailonline.com/malaysia/article/bank-negara-warns-of-bitcoin-risks-as-digital-currency-rises#sthash.noFCVadc.dpuf

 

The Wall Street Journal (WSJ) reported 16 retailers in Singapore which accept the currency, citing CoinMap, a website listing such companies or vendors.

The only Malaysian merchant on the list is shared workspace Nook in Bangsar, Kuala Lumpur, where customers can pay for good and services ranging from coffee to office business services with the cryptocurrency.

– See more at: http://www.themalaymailonline.com/malaysia/article/bank-negara-warns-of-bitcoin-risks-as-digital-currency-rises#sthash.noFCVadc.dpuf

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Written by khairulorama

December 6, 2013 at 8:17 am

Posted in Uncategorized

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