The Bitcoin Thread

[Pho3nix]

 

[balrog]

Thanks for the reply, seems as if the price of Bitcoin has nowhere to go but up.

I wonder if there are people who've put their pension funds into Bitcoins, and saved them in a cold wallet. That's exactly what I'm gonna do, but not now because I'm expecting a correction larger than the one we experienced because of the China FUD.

I read an article the other day in which some finance guru said any Bitcoin you buy below $10 000 is cheap. I think all of us here, that already own more than a BTC, hope that he is accurate in his prediction

My opinion is that the China FUD is already passing - I think BTC will start continuing its upwards trend this week. To then have a slump before Nov for the potential Segwit2x split. These are great opportunities to get into BTC. I think these opportunities will be drying up soon. Hopefully 2018 will be another year of astronomic BTC and altcoin growth!

May 1 BTC = 1 000 000 ZAR soon

 

[Sly21C]

I read an article the other day in which some finance guru said any Bitcoin you buy below $10 000 is cheap. I think all of us here, that already own more than a BTC, hope that he is accurate in his prediction

My opinion is that the China FUD is already passing - I think BTC will start continuing its upwards trend this week. To then have a slump before Nov for the potential Segwit2x split. These are great opportunities to get into BTC. I think these opportunities will be drying up soon. Hopefully 2018 will be another year of astronomic BTC and altcoin growth!

May 1 BTC = 1 000 000 ZAR soon

I think R1 million a Bitcoin is definitely possible, but because of the S curve it might take a while, a decade or two I think. I could be wrong though.

 

[The_Ogre]

I read an article the other day in which some finance guru said any Bitcoin you buy below $10 000 is cheap. I think all of us here, that already own more than a BTC

Own up, who are you guys?!

/strokes head of his half a coin



I'm also going to start pumping more cash into BTC, right now every single Satoshi in my Bitcoin holding was contributed by mining. From this month I'm going to start making cash deposits to supplement the mining effort because the profitability was below average this month, I'm also going to stop mining with Nicehash, Vok hulle. Seems they're taking a lekke chunk of your hashing power to mine for their own greedy paws.

 

[Sly21C]

Own up, who are you guys?!

/strokes head of his half a coin



I'm also going to start pumping more cash into BTC, right now every single Satoshi in my Bitcoin holding was contributed by mining. From this month I'm going to start making cash deposits to supplement the mining effort because the profitability was below average this month, I'm also going to stop mining with Nicehash, Vok hulle. Seems they're taking a lekke chunk of your hashing power to mine for their own greedy paws.

I want to trade more often, i.e. BTC against other cryptos in the hope that my BTCs will grow. I'm also considering trading USDT against other cryptos, but that's too risky in case other cryptos explode leaving me holding tethers.

Just heard a caller on Radio 2000 a few minutes that he has 80 Bitcoins, and says he has retired and goes to the beach. I don't have a tenth of what he has, but 80 Bitcoins are nothing in this day and age for retiring

 

[SaiyanZ]

Is this for real or just propaganda? Most asset managers I've spoken to from the large companies here in SA aren't even aware of Bitcoin. Also people who decide investment strategy within a couple companies I've worked for are also unaware. The ones who were aware of Bitcoin and cryptocurrency growth mentioned that they don't know what it is, what is the asset and where the value was coming from.

Then again cryptocurrencies are small fish in a big pond for these companies which manage total assets multiple times the value of the entire global cryptocurrency market.

 

[Lunomoney]

^ Thanks for the reply .

As a ZAR deposit option to buy BTC. The transaction fees for snapscan are 3% per transaction with no additional fees.

Coolios, I've dropped our Product team a line with the additional method of depositing
I'm not entirely sure how SnapScan's process works on the backend of how much risk we'd be exposed to, but that's an entirely different conversation.

Because the set amount is never the amount you need . I'm also more likely to spend that ZAR on a whim rather than think about it first if I have to top up my account. And I just prefer my fiat in a bank where I'm paying them to secure and insure my money.

Interesting. Do you predominantly use the Instant Buy/ Sell or place orders on the exchange?
I've seen some customers deposit Rx every week or every month, and when the price hits a certain point they buy.

 

[Pho3nix]

Is this for real or just propaganda? Most asset managers I've spoken to from the large companies here in SA aren't even aware of Bitcoin. Also people who decide investment strategy within a couple companies I've worked for are also unaware. The ones who were aware of Bitcoin and cryptocurrency growth mentioned that they don't know what it is, what is the asset and where the value was coming from.

Then again cryptocurrencies are small fish in a big pond for these companies which manage total assets multiple times the value of the entire global cryptocurrency market.

We've had different experiences then. Some funds are looking at it but not pouring funds in as yet but this is from a local perspective.
http://fortune.com/2017/08/09/goldman-sachs-bitcoin-client-advice/ ~ from an international standpoint is the one I remember from news.

This is the link for the pic I shared : http://www.zerohedge.com/news/2017-09-12/its-official-long-bitcoin-most-crowded-trade-wall-street

Read the comments in the link as well.

 

[balrog]

I want to trade more often, i.e. BTC against other cryptos in the hope that my BTCs will grow. I'm also considering trading USDT against other cryptos, but that's too risky in case other cryptos explode leaving me holding tethers.

Just heard a caller on Radio 2000 a few minutes that he has 80 Bitcoins, and says he has retired and goes to the beach. I don't have a tenth of what he has, but 80 Bitcoins are nothing in this day and age for retiring

Wow, 80 BTC is nothing to sneeze at! I have been lucky enough to have had good growth in some ICO's and alt-coins, which has helped me grow my BTC stack. Just keep at it.

For me, the secret in "Buy low, sell high", has been the BUY LOW part. Wait till a coin is really cheap, and invest then. Patience is important. Some people I know have lost a lot on crypto-trading, because they were greedy and in a rush to do the "get rich quick" thing. That will blow up in your face....

 

[balrog]

I want to trade more often, i.e. BTC against other cryptos in the hope that my BTCs will grow. I'm also considering trading USDT against other cryptos, but that's too risky in case other cryptos explode leaving me holding tethers.

Just heard a caller on Radio 2000 a few minutes that he has 80 Bitcoins, and says he has retired and goes to the beach. I don't have a tenth of what he has, but 80 Bitcoins are nothing in this day and age for retiring

You guys must join the Bitcointalk forums. I have made quite a few free satoshis there. Currently I am in the DeepOnions free airdrop. Every Friday they airdrop free DeepOnion tokens. Holding on for now, still 32 weeks left to go of free airdrops. They are currently 28k sats on Novaexchange. I then stick them in the wallet and let them stake - so they grow further. FREE internet monies...

You can use your sig to advertise coins on Bitcointalk, then you get awarded with coins - all depending on the coin etc.

 

[The_Ogre]

You guys must join the Bitcointalk forums. I have made quite a few free satoshis there. Currently I am in the DeepOnions free airdrop. Every Friday they airdrop free DeepOnion tokens. Holding on for now, still 32 weeks left to go of free airdrops. They are currently 28k sats on Novaexchange. I then stick them in the wallet and let them stake - so they grow further. FREE internet monies...

You can use your sig to advertise coins on Bitcointalk, then you get awarded with coins - all depending on the coin etc.

Problem I have is BitcoinTalk is blocked at work, in fact most forums are. The only reason MyBB is open to us is because we're in the Telecoms industry

But thanks for the heads up, I'll check it out when I get home.

 

[Mier]

I want to trade more often, i.e. BTC against other cryptos in the hope that my BTCs will grow. I'm also considering trading USDT against other cryptos, but that's too risky in case other cryptos explode leaving me holding tethers.

Just heard a caller on Radio 2000 a few minutes that he has 80 Bitcoins, and says he has retired and goes to the beach. I don't have a tenth of what he has, but 80 Bitcoins are nothing in this day and age for retiring

This caller must've crapped himself when he woke up this morning

 

[Mr.Ree]

Would it be a good thing to buy in a little now? Or should I wait?

 

[Mr.Ree]

I'm still waiting for Luno to reflect the money I put in last night

 

[Compton_effect]

I want to trade more often, i.e. BTC against other cryptos in the hope that my BTCs will grow. I'm also considering trading USDT against other cryptos, but that's too risky in case other cryptos explode leaving me holding tethers.

Just heard a caller on Radio 2000 a few minutes that he has 80 Bitcoins, and says he has retired and goes to the beach. I don't have a tenth of what he has, but 80 Bitcoins are nothing in this day and age for retiring

I'll be honest. If I had made a large initial buy of Bitcoin (Sob), I would have moved most of it out into something a bit less high risk after the initial price spike. This is too unpredictable.

 

[JerryMungo]

Tweet has since been deleted...

 

[Noock]

Tweet has since been deleted...

He deleted all his tweets from last night because he got huge backlash for them. Apparently this tweet was a joke, according to his later tweet (also deleted), however nobody appreciated it or interpreted it as a joke.
I don't know what's going on with this whole China ban, but where there's smoke there's fire I guess.

 

[MrGray]

Approaching all this rationally, I might be wrong but my take is that China is, somewhat sensibly, concerned about the hype around cryptos, particularly ICOs and wants to take measures to make sure people don't lose their life savings in crazy schemes. Reading between the lines, it seems that they are not necessarily opposed to cryptos, but want to increase regulation, and also apply the same regulations that have always applied to conventional order book exchanges to Bitcoin.

This is all being translated into "the-end-is-nigh" doom and gloom and FUD, which to my mind is going to present the biggest buying opportunity in Bitcoin and the credible ICOs for a long time. No doubt China will, in its authoritarian manner, shut down exchanges and crack down on ICOs and the prices will plummet. But if they eventually allow a regulatory framework where exchanges can operate legitimately, watch it skyrocket again. Also, people will eventually realise that governments can ban exchanges, but not the actual Bitcoin or other cryptos, and that there will still be trade through other direct or innovative channels (apps, lightning network, etc).

Logically, this kind of crackdown will eventually happen everywhere. I don't see how anyone thought they would allow a situation where multi-billion dollar exchanges operated in a regulatory vacuum. So there is probably a long downward price spiral going ahead for BTC/Alts/ICOs. But in the long term, it will persist as the genie is out of the bottle and there will be exchanges that operate with government acquiescence or even totally new mechanisms like decentralised distributed exchanges - e.g. http://www.coinffeine.com ("like BitTorrent for Bitcoins", lol).

 

[balrog]

Approaching all this rationally, I might be wrong but my take is that China is, somewhat sensibly, concerned about the hype around cryptos, particularly ICOs and wants to take measures to make sure people don't lose their life savings in crazy schemes. Reading between the lines, it seems that they are not necessarily opposed to cryptos, but want to increase regulation, and also apply the same regulations that have always applied to conventional order book exchanges to Bitcoin.

This is all being translated into "the-end-is-nigh" doom and gloom and FUD, which to my mind is going to present the biggest buying opportunity in Bitcoin and the credible ICOs for a long time. No doubt China will, in its authoritarian manner, shut down exchanges and crack down on ICOs and the prices will plummet. But if they eventually allow a regulatory framework where exchanges can operate legitimately, watch it skyrocket again. Also, people will eventually realise that governments can ban exchanges, but not the actual Bitcoin or other cryptos, and that there will still be trade through other direct or innovative channels (apps, lightning network, etc).

Logically, this kind of crackdown will eventually happen everywhere. I don't see how anyone thought they would allow a situation where multi-billion dollar exchanges operated in a regulatory vacuum. So there is probably a long downward price spiral going ahead for BTC/Alts/ICOs. But in the long term, it will persist as the genie is out of the bottle and there will be exchanges that operate with government acquiescence or even totally new mechanisms like decentralised distributed exchanges - e.g. http://www.coinffeine.com ("like BitTorrent for Bitcoins", lol).

I agree. Bitcoin and NEO are great buys at the moment IMHO.

WAVES already has a decentralized exchange built into the wallet. It looks a bit primitive, but works fine. They are currently working on a version with all the bells and whistles. Decentralized exchanges are the future:
1. Nobody can run away with your coins, since your coins remain in your wallet, with a matching engine in the background that does the BUY/SELL matching.
2. No government can shut it down or regulate it.

What we are seeing now are the growing pains of crypto. Bringing it out of the Wild West to the common man. This is when it will EXPLODE.

 

[Noock]

Interesting times... I'm still definitely bullish about btc long term despite the impending regulation.
However short term I'm starting to feel bearish... Btc keeps bouncing off the 3900 level, seems like it might break lower :/ anybody share this view?