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The Bitcoin Thread
- Thread starter Keeper
- Start date
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GreGorGy
BULLSFAN
Luno did explain it a while back in this thread.
Also, https://www.luno.com/blog/en/post/bitcoin-price-different-different-countries
Also, https://www.luno.com/blog/en/post/bitcoin-price-different-different-countries
Have any of you heard of Tether? I'm trying to understand how the guys are buying BTC on margin?
https://www.reddit.com/r/btc/comments/6xpddt/as_20m_more_tether_are_issued_today_i_think_its/
https://www.reddit.com/r/btc/comments/6xpddt/as_20m_more_tether_are_issued_today_i_think_its/
I am using a average currenty from the following exhanges:
Bitfinex $4187.00
OKCoin.cn $4083.69
BTCC $4083.69
Huobi $4039.55
bitFlyer $4392.70
Poloniex $4306.10
Bitstamp $4206.59
Bittrex $4218.21
Bithumb $4276.76
GDAX $4431.05
Last night I built and added the online counter to coindata.co.za which took some time, When I get a little time tonight I want to build some logic so that on the bitcoin and ethereum page I add a new coloumn to show Luno and Ice3X prices. So that addition will happen shortly.
MrGray
Honorary Master
There definitely is a price premium in ZA, there are a number of reasons for that.
Remember that supply and demand is the only thing that determines the price
I know there's usually a premium but this is particularly large - almost R10k/BTC. I don't understand why there isn't more arbitrage.
Lunomoney
Luno Representative
Exchange control in South Africa makes it pretty tricky.
Worked out yesterday you paying almost R2 extra per $ spend. Getting my fix somewhere else when I climb back in.
ice3x is priced the same. Not many other options locally unless you have intl. banks accounts etc. How are you going to do it?
handyman007
Expert Member
- Joined
- Mar 1, 2017
- Messages
- 1,255
- Reaction score
- 650
Recovering steady now.
You not. You will inevitably take a bath locally buying your base coin. Then build on it on a bigger exchange like Bitfenix or the likes with more liquidity and trading options.
JerryMungo
Honorary Master
- Joined
- Jul 18, 2008
- Messages
- 37,672
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- 6,359
What you said... I have no idea.
IdleLayabout
Active Member
It seems to me that while there's more action\opportunity short term trading on a non-SA exchange you get nailed bringing it back again. Because of the skewed rate on the SA exchanges where you initially bought X BTC, you bring it back and on conversion to ZAR you don't make nearly as much profit. To put it another way, look at the slippage between the USD (purple) and ZAR (green) and how it's gotten worse throughout the year. I know this is not the local exchanges' fault but appears to be a demand issue with SA traders.
Kudos to Thor for a great trading tool:
Kudos to Thor for a great trading tool:
You actually make a killing if you 1. buy X Bitcoins on local exchange 2. move to Bittrex, 3. increase your BTC stash there via trading, then bring it back and sell it on Luno 8)
I'll take the kudo thanks you
How many Satoshi per Kudo?
EDIT: After some Google-fu, it seems there is no singular for Kudos. But I will let my idiocy above stand for reference of future generations.
So Kudos is to Kudos as Sheep is to Sheep.
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How many Satoshi per Kudo?
:crylaugh:
Anyone Wana sell bitcoin for cash let me know... Sedl I mean
This. People around here just can't seem to grasp this. If you buy at a premium you sell at a premium too. As long as you cash out via Luno in the end the premium pretty much cancels out. You may even make a little more profit.
IdleLayabout
Active Member
I'm using cex.io as they have a 0 maker\taker fee, but in hindsight that was an error as their BTC is priced $200 to $300 above index.
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