Bitcoin Thread

[John Tempus]

Tried to register on Valr but keep getting connection lost.

Probably some hickups. I just did the whole selfie, recording bs and was approved 5minutes after the whole process. It does feel like im going to the dentist office , hate these selfie recording crap.

The fee structure on VALR should give luno some concerns assuming VALR does pickup speed quickly.

Everything on VALR from available coins to fee structure is by far better than luno so hopefully this will shake luno out of hibernation and have them improve on their exchange offering.

The big question really for me is if VALR would have sufficiently traction/liquidity to bring SA coin prices more in line with USD market prices. If this exchange in any way could break through that ceiling then luno will have even bigger worries.

There is some potential for this since they are partnered with Bittrex but I will remain sceptical until there is more data available.

 

[Swa]

Probably some hickups. I just did the whole selfie, recording bs and was approved 5minutes after the whole process. It does feel like im going to the dentist office , hate these selfie recording crap.

The fee structure on VALR should give luno some concerns assuming VALR does pickup speed quickly.

Everything on VALR from available coins to fee structure is by far better than luno so hopefully this will shake luno out of hibernation and have them improve on their exchange offering.

The big question really for me is if VALR would have sufficiently traction/liquidity to bring SA coin prices more in line with USD market prices. If this exchange in any way could break through that ceiling then luno will have even bigger worries.

There is some potential for this since they are partnered with Bittrex but I will remain sceptical until there is more data available.

Turned out they don't accept PDFs which I just upload everywhere but they don't state that and just give some random error while showing the end document.

 

[SaiyanZ]

Breaking downwards finally but very slowly. Think mainly because there was no mini short liquidation spike before it started dumping from the resistance. So too many shorts are still in play which will slow down the drop as they take profit whilst it falls.

 

[Salmank]

Breaking downwards finally but very slowly. Think mainly because there was no mini short liquidation spike before it started dumping from the resistance. So too many shorts are still in play which will slow down the drop as they take profit whilst it falls.

Going up again. Over $500 is no Joke.

 

[SaiyanZ]

Yeah solid bounce there. There's a lot of heavy resistance just above though. Also we just had a whole week of sideways at around $8500 to $8800. So it's not going to be easy to break through and go to $9k like the last time.

 

[carstensdj]

Just FYI:
I checked the price on Luno vs Alt Coin Trader and Alt Coin Trader's BTC price is quite a bit lower. If anyone is buying at the moment, I'd consider using Alt Coin Trader instead of Luno (It's also a local exchange).

 

[Swa]

Altcointrader has low liquidity though. Price can easily move a few thousand with big orders. Or if there's big price movement it can be a struggle buying or selling.

 

[carstensdj]

Altcointrader has low liquidity though. Price can easily move a few thousand with big orders. Or if there's big price movement it can be a struggle buying or selling.

Not sure I fully understand what you mean?

I was under the impression that if I placed a Buy Order at a certain amount, that it would purchase at that amount. If it's almost $100 less than the price on Luno at that moment, surely I'm making some profit on my order? Or are there delays that I'm not factoring in? I haven't bought Crypto in about 2yrs now so can't quite remember the in's and out's.

 

[saor]

Just FYI:
I checked the price on Luno vs Alt Coin Trader and Alt Coin Trader's BTC price is quite a bit lower. If anyone is buying at the moment, I'd consider using Alt Coin Trader instead of Luno (It's also a local exchange).

Prices seem the same, or actually less on luno.

ACT:


Luno:

 

[Swa]

Not sure I fully understand what you mean?

I was under the impression that if I placed a Buy Order at a certain amount, that it would purchase at that amount. If it's almost $100 less than the price on Luno at that moment, surely I'm making some profit on my order? Or are there delays that I'm not factoring in? I haven't bought Crypto in about 2yrs now so can't quite remember the in's and out's.

The ACT order book is almost non-existent compared to Luno. You'll likely wait a long time or get way above market rates. I took a look now and not only is there a R1k price spread but if you buy just 1.5 BTC it pushes the price up another R1k to R127k.

 

[carstensdj]

Prices seem the same, or actually less on luno.

ACT:
View attachment 668803

Luno:
View attachment 668805

Wasn't the case when I posted it this morning

 

[John Tempus]

Wasn't the case when I posted it this morning

Liquidity is all that matters next to base price difference.

Luno liquidity is already pretty bad between price spreads ie. filling 1 BTC order sometimes even on luno could push the price up or down by 1% and on Altcointrader this case is even worse depending on the day and period in the market.

 

[carstensdj]

Liquidity is all that matters next to base price difference.

Luno liquidity is already pretty bad between price spreads ie. filling 1 BTC order sometimes even on luno could push the price up or down by 1% and on Altcointrader this case is even worse depending on the day and period in the market.

I see... Thanks for the info.

 

[Salmank]

Liquidity is all that matters next to base price difference.

Luno liquidity is already pretty bad between price spreads ie. filling 1 BTC order sometimes even on luno could push the price up or down by 1% and on Altcointrader this case is even worse depending on the day and period in the market.

How is VALR, Ive3x ane Coinbase?

 

[Swa]

Wasn't the case when I posted it this morning

Yeah that is my point. With the low liquidity anything can happen in the time it takes to transfer or you can get stuck not being able to buy or sell. If you want altcoins however it may be a good option.

How is VALR, Ive3x ane Coinbase?

VALR isn't trading yet.

 

[John Tempus]

How is VALR, Ive3x ane Coinbase?

VALR have the potential to be 10x what luno is now just based on their fee structure, available coins and bittrex backing ie. I think they distribute bittrex liquidity directly into VALR which would make sense to have VALR as liquid as possible from launch day.

 

[SaiyanZ]

Trading fees:
Simple Buy/Sell: 0.75% per trade

Exchange Buy/Sell:

• Maker: -0.1% (yes, we pay you)
• Taker: 0.2%

VALR fees look way better than Luno. They will need to do some marketing though to grow their base. I only know about it because you guys mentioned it.

 

[saor]

VALR have the potential to be 10x what luno is now just based on their fee structure, available coins and bittrex backing ie. I think they distribute bittrex liquidity directly into VALR which would make sense to have VALR as liquid as possible from launch day.

Yeah, also think a lot of local traders would jump ship assuming they build some decent volume and have a proper order book and charts. Luno have been awfully complacent with their trading interface & order types.

 

[Salmank]

So I understand VALR is rather new?

How safe would it then be? It might be easier to get hacked, or even just fail. Will the funds there be secured?

 

[John Tempus]

So I understand VALR is rather new?

How safe would it then be? It might be easier to get hacked, or even just fail. Will the funds there be secured?

They are technically still due to launch in a day or two.

Right now as I understand it they have only been interfacing with bittrex market in order to buy/sell against bittrex orderbook. In a day or two they will open their own local orderbook so will have to see how it match up with liquidity vs luno.

No matter how great an exchange look on paper if it doesn't attract users and have a solid orderbook for liquidity the exist is essentially useless so we will see how things go and if its a valid competitor to luno.

From face value the pros of VALR vs LUNO is pretty clear.

- VALR pays a rebate ie. if you add to the orderbook and someone takes your order you will get paid an inverse fee percentage on top of the order being taken, for market makers vs luno simply not charging market makers a fee.
- VALR fee for market taker is 1/5th what luno is charging for market taker.
- VALR will have something like 30+ coins available for trading vs luno's rather pathetic BTC and ETH only offering.


The only unknown at this point is how the execution will be when the local orderbook goes live. How quickly at least users from luno would also start trading on VALR etc etc. these unknowns will have to play out first.