Bitcoin Thread

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Just as an aside, I've been a long-time XRP hodler. In World Coin Index I have a portfolio set up that tracks my actual holdings vs their value in BTC had I invested in Bitcoin rather than XRP. Since the FTX fiasco the XRPs have been around 20% higher than had I owned BTC.
I did admittedly buy XRPs at $0.15-$0.18 back in the Great Bubble.
 
Arthur said:
Just as an aside, I've been a long-time XRP hodler. In World Coin Index I have a portfolio set up that tracks my actual holdings vs their value in BTC had I invested in Bitcoin rather than XRP. Since the FTX fiasco the XRPs have been around 20% higher than had I owned BTC.
I did admittedly buy XRPs at $0.15-$0.18 back in the Great Bubble.
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I also have a health amount of XRP bought for nearly nothing!
 
Arthur said:
Just as an aside, I've been a long-time XRP hodler. In World Coin Index I have a portfolio set up that tracks my actual holdings vs their value in BTC had I invested in Bitcoin rather than XRP. Since the FTX fiasco the XRPs have been around 20% higher than had I owned BTC.
I did admittedly buy XRPs at $0.15-$0.18 back in the Great Bubble.
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Same here and I still buy a R100 a month just in case it skyrockets one day.
 
NarrowBandFtw said:
not concerned about the safety of my funds on Luno any more than other exchanges (ones that have not exploded I mean)

but that's just generally sound advice: self-custody is the way
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Without having the faintest idea how this works, is this now the time (or has that time past) to move what one has from Luno to cold storage (less than R100,000)? Will that save your BTC is Luno goes down or is this not the way to go?
 
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Jackes1754 said:
Without having the faintest idea how this works, is this now the time (or has that time past) to move what one has from Luno to cold storage (less than R100,000)? Will that save your BTC is Luno goes down or is this not the way to go?
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IMO any time is a good time to get all but the actively traded funds in cold storage. BTC is BTC wherever it is stored; it's just that when an organisation that is holding it goes down then all the clients' funds can be lost. [When you forget your key, then the BTC goes to crypto heaven!]
 
Yup. Sitting with just a 1000 XRP but hopefully that is worth something some day soon.
 
Wary GOM said:
IMO any time is a good time to get all but the actively traded funds in cold storage. BTC is BTC wherever it is stored; it's just that when an organisation that is holding it goes down then all the clients' funds can be lost. [When you forget your key, then the BTC goes to crypto heaven!]
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I cannot find info on it, but I presume you will be charged a fee from luno to take it out into a cold wallet as well hey?
 
Jackes1754 said:
Without having the faintest idea how this works, is this now the time (or has that time past) to move what one has from Luno to cold storage (less than R100,000)? Will that save your BTC is Luno goes down or is this not the way to go?
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Luno has not frozen any funds and has indicated that they will not need to, so it becomes a question of trust more than timing.

No the time has not passed, is now the time? That's for you to decide.

Personally I've learned the hard way that self-custody / cold storage is best, always, regardless of which exchange you're dealing with. That way you don't need to trust the exchange at all, but you are taking personal responsibility for keeping your keys / recovery phrases etc safe, nobody will be able to help you if you lose it for example.
 
Jackes1754 said:
I cannot find info on it, but I presume you will be charged a fee from luno to take it out into a cold wallet as well hey?
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the fee is just a normal BTC network fee to send it to an external address, Luno does not know or care if that address is another exchange or your cold wallet, it just sends and charges the normal network send fee.
 
The way I sees it is that every exchange will say everything is fine until the last minute before things blows up. Especially if its sister companies seems to be in trouble, you simply don't know what kinds of loans these companies shares, so why take the chance and risk everything when it shouldn't cost you that much to keep your crypto safe under your control.
 
I have to admit. I dont know much about bitcoin. I do however have some bitcoin in Luno. How do I go about transferring it to another wallet?
 
Wary GOM said:
In view of the state of crypto companies, can any of you experience folks help me in deciding between Luno and Binance to buy btc now? Thanks very much.
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https://www.valr.com/invite/VAQUJKDJ VALR has more coins than Luno.

Wary GOM said:
I am a bit concerned by the media reports on Binance and its general governance.
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They have 50 billion in liquid capital https://portfolio.nansen.ai/dashboa...social&utm_campaign=portfolio_binance_10nov22. They're fine lol
 
Anti-Chris said:
I have to admit. I dont know much about bitcoin. I do however have some bitcoin in Luno. How do I go about transferring it to another wallet?
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Buy yourself a crypto hardware wallet. You do not want any crypto on any exchange. They will all come tumbling down. Get your crypto transferred to a hardware wallet where you have full control over it. If crypto survives the upcoming collapse and will still be worth something in 10 years from now, at least you will still have yours.
 
Anti-Chris said:
I have to admit. I dont know much about bitcoin. I do however have some bitcoin in Luno. How do I go about transferring it to another wallet?
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Download https://jaxx.io/ or https://trustwallet.com/, create your wallet and keep your keys safe. Then send the BTC to that wallet.
rvZA said:
Buy yourself a crypto hardware wallet. You do not want any crypto on any exchange. They will all come tumbling down. Get your crypto transferred to a hardware wallet where you have full control over it. If crypto survives the upcoming collapse and will still be worth something in 10 years from now, at least you will still have yours.
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Lol too funny.
 
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