Bitcoin Thread

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Re problems depositing to exchanges. In addition to the Binance issue, I have had problems with depositing to HFMarkets brokerage. On querying with the bank, I was told that the issue was that I was wanting to send money to a brokerage that deals in crypto. To do so, I would have to jump through some hoops - something to do with new Reserve Bank rules. After an unrelated hack on my bank account, I haven't yet made any more inquiries.
 
bradza said:
Hey guys, wonder if any can shed light here on Binance. Tried to deposit from my bank, did it before years back, keeps giving an error. Binance says they "under maintenance" (for over a week), I call bullcrap, I suspect SA banks don't allow deposits there anymore, is this correct to suspect? So only withdraws and no deposits anymore with binance? Thanks for any light on this.
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Binance seems to be planning some more shenanigans to screw with our trades. I just got this message when trying to use the Binance app on a new laptop:

Screenshot 2024-04-23 at 19.46.20.png
 
Wary GOM said:
Re problems depositing to exchanges. In addition to the Binance issue, I have had problems with depositing to HFMarkets brokerage. On querying with the bank, I was told that the issue was that I was wanting to send money to a brokerage that deals in crypto. To do so, I would have to jump through some hoops - something to do with new Reserve Bank rules. After an unrelated hack on my bank account, I haven't yet made any more inquiries.
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swifts are really not an issue.

Under R1m in a year its automatically allowed under the single discretionary allwoance.

Beyond R1m-R10m (cant go beyond R11m in total a year) you just apply to sars for a TCC also not really an issue
 
Buy, buy, y. Hold hold hold.
Well I am OK - with the glitches I am having with Binance, I can only forget that having any bitcoin matters. On the other hand, trading CFDs is fun!
 
supersunbird said:
How so?

Anyway, if a have a little cash, do I get the nod?
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In the past 24 hours, 135,577 traders were liquidated, the total liquidations comes in at $457.07 million.

Definitely not the worst day ever, but just another reminder that this isn't for the feint of heart

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Bitcoin Liquidations, Cryptocurrency Liquidations, Real-Time Liquidation Heatmap, Binance Liquidations | CoinGlass

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supersunbird said:
How so?

Anyway, if a have a little cash, do I get the nod?
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Do you mean to trade or just buy without foreseeable need to sell? The liquidations over the past couple of days show that trading BTC on margin is a high risk use of money. IMO the price now is good but it can go anywhere.
 
Speedster said:
In the past 24 hours, 135,577 traders were liquidated, the total liquidations comes in at $457.07 million
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for the life of me I will never understand how people look at one of the most volatile assets known to man and go: "damn, I sure need even more fireworks, I'm gonna lever up!"

i.e. you can only get liquidated if you were playing with fire, like margin, leverage etc, I believe a crypto angel gets its wings every time a leveraged crypto trader goes bust, it's a good thing
 
Wary GOM said:
Do you mean to trade or just buy without foreseeable need to sell? The liquidations over the past couple of days show that trading BTC on margin is a high risk use of money. IMO the price now is good but it can go anywhere.
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Trading seems like a fools errand unless you really know what you are doing, so no, not trading.
 
NarrowBandFtw said:
for the life of me I will never understand how people look at one of the most volatile assets known to man and go: "damn, I sure need even more fireworks, I'm gonna lever up!"

i.e. you can only get liquidated if you were playing with fire, like margin, leverage etc, I believe a crypto angel gets its wings every time a leveraged crypto trader goes bust, it's a good thing
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Oh yes! Crypto is bad enough in terms of volatility, bots trading and really big guys just "playing". Adding margin / leverage is suicide IMO. That is for the highly liquid crypto like BTC, ETH, SOL and a few others. For any ''of the smaller "cap" crypto, pump-ad-dump is the game.
 
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