Bitcoin Thread

Status
Not open for further replies.
SaiyanZ said:
What if someone transfers R200k to Luno and then withdraws R200k a few days later? In and out from bank account is the same so no tax I assume? So do we need to declare that transfer in and out?
Click to expand...
No tax implication there as you did not buy anything.
 
RaptorSA said:
Capital Gains tax is currently 18 f***ing percent.
Not a chance I'm paying that, the Government can lick my balls.
Click to expand...
Best bet would be to only withdraw what you initially put in and transfer your proceeds into a visa/mastercard solution in another wallet and exchange (an international one that doesn't report to SARS)

Use the card to pay for large purchases, be it home renovations, or a vacation etc.

Save the money in SA that you were going to use for these purchases.
 
Tman* said:
Looking at CGT/TAX: Luno has acknowledged that the are actively complying with SARS, so you will have to pay tax in some form sometime in the future.
Click to expand...
No they haven't.
 
Interesting some longs seem to have liquidated but shorts are still more or less the same. Most probably opened way below where we are now and they've been propping them up so we can probably go substantially lower before there's profit taking.
 
I hope the bond guy cashed out and paid for his bond ...
 
Massive drops today just keep going. Kind of annoying that it went up just enough to liquidate a few accounts of mine at $12900 and then dumps like this the next day.
 
People are going to get massively punished soon.

Nearly $1billion in short positions in just the last 24hrs and counting on Bitmex.

I have never seen such a high position on Bitmex nevermind just a single 24hrs.

Also I am not sure where this site gets their numbers from -> https://blockchainwhispers.com/bitmex-position-calculator/ that most people seem to often look at but it is so inaccurate and just wrong.

Take a look here https://coinfarm.online/?tcs=1m , pulls live data from bitmex api. Completely different numbers and actually accurate.
 
Today's bearish candle has wiped out 3 previous days of green - and looks like the weekly candle may end up being a shooting star - a reversal candle on the weekly - indicators were pinned to the roof for sometime on the higher time frames, the writing was on the wall - it was just a matter of time - brace yourself for the pain.
 
Well , over $1billion and counting.

If you are trading in this market I suggest you make damn sure to keep your trading positions very briefly and always monitor any trade while it is open.

This looks SICK.

On the other hand, I would REALLY ****ing love to get my hands on more CORN around $3K-$5K if I could be that lucky.

dumpoclock.png


If we really sit back and look at the bigger picture. If this is the correction and we somehow stay above $10k and build again either slow or fast it is still a very bullish period. People do get lost over suddenly crashes and forget that just 2 days ago we were lower than the current tanked price is showing.
 
Last edited:
John Tempus said:
Well , over $1billion and counting.

If you are trading in this market I suggest you make damn sure to keep your trading positions very briefly and always monitor any trade while it is open.

This looks SICK.

On the other hand, I would REALLY ****ing love to get my hands on more CORN around $3K-$5K if I could be that lucky.

View attachment 677513


If we really sit back and look at the bigger picture. If this is the correction and we somehow stay above $10k and build again either slow or fast it is still a very bullish period. People do get lost over suddenly crashes and forget that just 2 days ago we were lower than the current tanked price is showing.
Click to expand...
Link to that view?
 
Knyro said:
$5million REKT!!!:eek::eek::eek::eek:

Officially the biggest liquidation I've ever seen on Bitmex. This guy is gonna be so pissed if it bounces from here.

https://twitter.com/x/status/1144339494562385921
Click to expand...

I bet you this is someone who kept adding to his position to protect a much small position. Also you know it cannot be just low BTC amount at high leverage because Bitmex have a 200BTC leverage total cap ie. if you do 100x the most you can lose is 2BTC and you are trading with 200BTC.

So this might be someone who went long in mid $10000 range and just kept it going even well over 100% profit. Probably at least something like 40-50x leverage which would mean this trade could have been only about 10-15BTC on balance loss.
 
I'm going to trade as I did before with multiple accounts but will start using a stop loss to get out of bad positions. Think around 30% negative price movement is a good time to call it a day for a trade. I let some orders get out of control hence why they got liquidated. Never again.

Still waiting for my Luno deposit to go through. It's been 1.5 days since I deposited.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X