The Bitcoin Thread

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Dan C said:
Sitting at an all time high atm.
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biometrics said:
So a sell off is imminent.
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This is the ridge that I'm a bit worried about right now. I won't be surprised if it keeps rising, but I don't know enough about online trading etc to watch for trends and know when it's a good time to buy in.

I find BTC so interesting at this stage, but considering just how much it's jumped recently I have no idea what an acceptable "worth the risk" amount is. 1 BTC doesn't sound like much and a few months ago it was around R10k...chop change for just playing with and see what happens...but now it's R63k on the exchange...all of a sudden it's the price of a 2nd hand car to start playing along.

So even though I know nobody wants to say how much they've got going on (esp the older players), it would be interesting to find out who has 1TBC and above vs when they started buying in.

I'd still like to work up to getting 1 or 2 BTC and just forgetting about it until a year or 2 from now to see what's happened. Then again with all the splits and other crypto's being introduced it's tough to decide when to HODL and when to not bother jumping in.

All that said, it seems to be a fair bit more stable than seeing the ZAR tumble each time JZ opens his mouth.

Thor said:
Highly doubt it.
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I take it you're also doing proper cold storage. Using those hardware dongles or what's the best way for scrubs to get it done?

I'd love to learn more from you guys, but it seems sitting at the sidelines now might make you miss the ability to buy in before it climbs past the $5k mark.
 
Waylander said:
A terrible (short term) entry position, in my opinion.
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Oh, should I cancel it? I'm not buying near a whole bit-coin.

What would you wait until the price dropped to if you were entering now?

Also I'm not looking to trade BC, looking to "HODL" it.
 
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Chris_the_Brit said:
Oh, should I cancel it? I'm not buying near a whole bit-coin.

What would you wait until the price dropped to if you were entering now?

Also I'm not looking to trade BC, looking to "HODL" it.
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You're looking to hold long term? If the $$$ you put into BTC can be kept away for an indefinite period of time, sure go for it.
 
Tman* said:
To disclose that its probably safer in your own wallet, and even safer in a cold wallet?

As someone else mentioned above me, "That's nothing personal against Luno, its just a fact with all exchanges.".
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If someone contacts us about methods of Bitcoin storage we reply with something similar to what I've done here, which does mention a hardware wallet as an alternative.

I really don't think it's something we need to advocate on our website. Especially considering that a lot of people are new to Bitcoin. Adding additional complexities, additional expenses and more information about hardware wallets is going to be a bit daunting.
 
^^Agree - more money will be lost through credential loss and other tech issues for the average person. For the paranoid there's a hardware wallet with free tinfoil hat. :D
 
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