The premium of the ATM may as well pay tax...
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Bitcoin Thread
- Thread starter Dan C
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DapperDanMan
Honorary Master
Sensorei
Executive Member
Just convert to BTC, send to a lightning wallet like Muun wallet and use it for paying for grocery shopping/airtime/municipal bills etc at Pick n Pay nationwide. Anonymous...
If you want to withdraw a substantial from a Bitcoin ATM you anyway have to verify your identification and fees are insane.
Fulcrum29
Honorary Master
Wasn't me,
JSRJJ
Well-Known Member
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down the hole now. how long something can last which has no real value backed by a bunch of cartels
Fulcrum29
Honorary Master
FIAT is backed by governments, so...
Bitcoin coming down was inevitable; it was screaming to be corrected.
Perhaps btc is showing signs of maturing as a speculative asset, with the "use case" simply being trading for profit.. Prices are moved by the cartels/bots acting like shopkeepers - buying at "wholesale" prices and selling at "retail" prices. Corrections then occur when the shopkeepers are running out of stock.
In this narrative, btc should drop quite a bit further until it reaches a price that cartels/bots consider low enough to be profitable for restocking and repeating the process.
In this narrative, btc should drop quite a bit further until it reaches a price that cartels/bots consider low enough to be profitable for restocking and repeating the process.
NarrowBandFtw
Honorary Master
it's already proven to be more than that, as volatile as it is, it tends to be more stable than the really crazy speculative "assets" (*cough* doge *cough*), in that wild world BTC is treated as the safe haven, a place to park your gains in between the wild white knuckle grip rollercoaster rides you take in shitcoinville
sure you can also use stable coins for that, but then Terra happened, BUSD might get legislated out of existence and Tether has decoupled a bunch of times etc
BTC and ETH have become crypto's "blue chip stocks"
Fulcrum29
Honorary Master
OT, but the Iron Fish launch is insane. It's testnet had good numbers, but since the mainnet launched it is already at 5,78 PH/s. Yes, miniscule compared to Bitcoin, but this is some early, and big, support given the cryptomining climate. Price speculation is also wild. This is another 'privacy' coin with exceptional hype, but will it survive?
'Only Time Will Tell' - Asia
Sensorei
Executive Member
I'd rather put my money on black at the casino. Far better odds.
This rubbish doesn't belong in the same sentence as Bitcoin. We don't need another privacy coin. Even scams can 100X but they're still just $1 Billion scams. Ethereum could implement zk-snarks within a year making all of these little privacy sh1tcoins pointless.
IMO the worst thing one can do in crypto is get attached to small projects because they seem to have real value in hopes of a 100X. Just ride the hype wave of projects with strong community and buy low, sell in profit, forget.
My take on getting hung up on the small crypto projects is that it the same as pulling the one-armed bandit and catches the same types of folks. They really aren't even expecting to make money - it's just the gambling thrills kicking in.
Fulcrum29
Honorary Master
I agree, but I have no idea who is behind Iron Fish and why it has so much support. It is backed by Herominers and though they are running a 'hash' competition, 4.09 PH/s is on their pool which is insane since the mainnet went live on the 20th I think.
Generally I don't support 'privacy' coins because they 'evade' regulations, until it is eventually regulated. All these coins want to be the next cash. It isn't going to work like that. The price speculation is all hype.
Fulcrum29
Honorary Master
Oh no, it happens again, all over again, CertiK audited 
cointelegraph.com
I get CertiK's position, but they are used as selling points, gullible buyers buy into 'trust'.
Crypto devs can't be anonymous; it is that simple really.
CertiK to launch compensation plan for $2M Merlin DEX exploit
Blockchain security firm CertiK is launching a compensation plan to cover the losses of an alleged Merlin DEX rug pull.
cointelegraph.com
I get CertiK's position, but they are used as selling points, gullible buyers buy into 'trust'.
Crypto devs can't be anonymous; it is that simple really.
Somewhat relevant to this thread: Is anyone else having difficulty making ZAR fiat deposits to Binance? Everything was working fine on my account until before the weekend, but now linking through STITCH just never gets an OTP.
I have also had a couple of other things that are worrying me even though with Binance they should not even be a fleeting question. The option to deposit fiat by EFT worked perfectly for me until a while ago when a deposit (still) hasn't gone through. After inquiries of Binance Support and a message that started coming up sometime last week, I am informed that this deposit option has been "under maintenance" (BAD connotations to that phrase!) since mid-April. The other thing that is at least an orange light is that Capitec Bank was listed amongst banks through which deposits could be made, but yesterday or the day before that it disappeared off the list. [Thyme Bank was still there as of this morning.]
I have also had a couple of other things that are worrying me even though with Binance they should not even be a fleeting question. The option to deposit fiat by EFT worked perfectly for me until a while ago when a deposit (still) hasn't gone through. After inquiries of Binance Support and a message that started coming up sometime last week, I am informed that this deposit option has been "under maintenance" (BAD connotations to that phrase!) since mid-April. The other thing that is at least an orange light is that Capitec Bank was listed amongst banks through which deposits could be made, but yesterday or the day before that it disappeared off the list. [Thyme Bank was still there as of this morning.]
SauRoNZA
Honorary Master
Use proper local exchanges and not dodgy ones like Binance pretending to be local and you won’t have these problems.
Yup - I believe it was you who suggested ByBit in reply to a query I had a while ago? I did take your advice, but in this instance, my mistake was in accepting the requirement of the broker who apparently only uses Binance. Interesting to see the replies I have had from my first foray onto Telegram to contact the Binance South Africa Telegram group. Fortunately it has been a very cheap learning experience. Suddenly Thyme Bank is accepted for linked deposits and withdrawal but Capitec has been taken out of the list of banks.
Man how glad I am that I became interested in crypto! Never a moment passes but there is something interesting going on. Now people who have had btc tied up in Mt Gox will get at least some proportion back and with at least some profit on paper.
SauRoNZA
Honorary Master
Definitely not me, never even heard of Bybit.
Apologies - nonetheless good advice on using local exchanges.
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