BTC doing really well, explanations?

Jet-Fighter7700

Jet-Fighter7700

Honorary Master
Joined
Mar 12, 2008
Messages
47,284
Reaction score
23,296
Location
Somewhere Different
Hi all,


so I did buy a bit of BTC just to play around with, since june this year,
brought around R250 worth
or 0.06665 BTC,

and BTC is acting really odd all of a sudden,

most of the year, its value never went up more than R3500 and quickly dropped again,
then suddenly it went up quite dramatically to almost R4800, all in about a month,

really odd behaviour? did somebody major invest in BTC or did something major happen to allow this?

anybody got some info on the why now? or is it becuse we so close to the christmas season that the value of BTC jump so high?
 
Is it a mission to buy these?
 
Dolby said:
Is it a mission to buy these?
Click to expand...

no not at all, you register with bitx, give them your ID,
and they set you up an account, with a virtual wallet.

and if your with FNB any deposits reflect immediately.
and its quite nice having a currency I can access anywhere in the world, with no taxes,commisions,or any goverment control whatsoever!

I mean theoretically, I can buy btc in sa and convert it to USD at a MUCH better rate than our poor currency.

yes its volitile, agreed, but thats becuse goverments and laws havnt caught up to it yet......

its like in the old gold mining days, price would go up and down as new fields and finds were discovered!
 
Rusty0 said:
http://www.coindesk.com/bitcoins-price-rise-explained-by-industry-insiders/
Click to expand...

that explains a lot, the EU aint stupid to not tax BTC,

anyway its a fools errand, NO goverment can control BTC, just like no goverment can control the internet!

thats what I love so much about BTC, especially here is ZA with our ZAR being worth less and less each day,
and with so many dumb regulations that prevent people moving funds out of the country.

I think a real opportunity is coming soon with BTC, especially when things go bust in ZA
 
eg2505 said:
That's what i started with, sitting with 325 now,

All of a sudden, for most of the year its in hibernation, then suddenly wakes up.

Can't understand that....
Click to expand...
I've also got some just sitting in my BitX wallet, haven't bothered checking it in quite a while now. Almost tempted to buy a bit more for lolz and let it sit.
 
eg2505 said:
That's what i started with, sitting with 325 now,

All of a sudden, for most of the year its in hibernation, then suddenly wakes up.

Can't understand that....
Click to expand...

Some event somewhere has driven up the demand... problem with BTC is that its not easy to try and predict its moves at all, it doesn't really track the global economy...
 
eg2505 said:
That's what i started with, sitting with 325 now,

All of a sudden, for most of the year its in hibernation, then suddenly wakes up.

Can't understand that....
Click to expand...

Then you'll not understand why it goes down either. In other words, don't put money that you actually need in there.
 
saor said:
I've also got some just sitting in my BitX wallet, haven't bothered checking it in quite a while now. Almost tempted to buy a bit more for lolz and let it sit.
Click to expand...

do it, what you got to lose?

I did the same as you , thought its a very nice gamble that could be worthless, or could pay out BIG!

kind of like buying a classic sports car, without the garage and rats/cats sleeping in it!
 
ToxicBunny said:
Some event somewhere has driven up the demand... problem with BTC is that its not easy to try and predict its moves at all, it doesn't really track the global economy...
Click to expand...

I thnk the even is that some big bank must have brought a large amount of BTC,
or that some new addition has come into the forefront
 
eg2505 said:
I thnk the even is that some big bank must have brought a large amount of BTC,
or that some new addition has come into the forefront
Click to expand...

You can only speculate... and even then you could very well be wrong.

For all you know, a government is buying up BTC to take them off the market, or someone else is starting to hoard them to pay for something big.... etc etc..
 
eg2505 said:
no not at all, you register with bitx, give them your ID,
and they set you up an account, with a virtual wallet.

and if your with FNB any deposits reflect immediately.
and its quite nice having a currency I can access anywhere in the world, with no taxes,commisions,or any goverment control whatsoever!

I mean theoretically, I can buy btc in sa and convert it to USD at a MUCH better rate than our poor currency.

yes its volitile, agreed, but thats becuse goverments and laws havnt caught up to it yet......

its like in the old gold mining days, price would go up and down as new fields and finds were discovered!
Click to expand...

Is this safe?

Asking for phone, ID, utilities... Everything for ID theft
 
Dolby said:
Is this safe?

Asking for phone, ID, utilities... Everything for ID theft
Click to expand...

very safe, they only called me once, and you dont need to give them your tax details, just for SARS
in case you make millions, with is actually possible here, but equally possible to hide it quite easily........

only thing is that they impose a limit on you of R5000 per month in trades, until they get all your details.
I didnt, so ive got that limit on my account,

they overseas based and few people have used there here before to get some BTC,

/wheres keeper when you need him? he introduced me
 
I wish I could time travel back to when I was buying Bitcoin for around R50 each. :(
 
Whoa - didn't realise they where so expensive.

What about these guys that mine them?
 
Dolby said:
Whoa - didn't realise they where so expensive.

What about these guys that mine them?
Click to expand...
Ja - I think there's plenty people kicking themselves for not knowing about it when you could still mine with your laptop and on-board gpu :).
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X