The Bitcoin Thread

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Pho3nix said:
Sold to the resident miner there. Gave him my price, send the coins, got an eft after the coins confirmed to be in his wallet.
Note that I know he is a reputable person and I had dealt with him before.

No pesky Sars to deal with :D
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Good to know, so it's technically possible to do this rather than go through bitx,

One thing I don't understand is how did you negotiate the price?

Was it at a certain time according to bitx price at that time, or did you use the usd as a benchmark.....

I mean I'm just trying to workout how it's done according to best practice. So when I do it I know what to do.
 
eg2505 said:
Good to know, so it's technically possible to do this rather than go through bitx,

One thing I don't understand is how did you negotiate the price?

Was it at a certain time according to bitx price at that time, or did you use the usd as a benchmark.....

I mean I'm just trying to workout how it's done according to best practice. So when I do it I know what to do.
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Took the BTC price in ZAR - R40 (just cause) = Purchase price.
Kinda up to you. You want X, buyer can say yes or no.

Money is all local and buyer wants to keep all his in BTC.
 
eg2505 said:
Interesting knowing it's possible to buy BTC for more or less market prices,

Don't you make a loss though?
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There is potential for profit if you can buy at good price directly on localbitcoins or similar and arbitrage on an exchange like BitX for what usually seems to be a higher price than straight US$ conversion even when selling. I've heard people are making a killing in China because BTC is at quite a premium there, but it's quite dodgy as direct currency transactions are illegal there and you also need all the logistics of being able to sell in RMB and convert back to another currency. But for those that can wangle it, it's like printing money.
 
eg2505 said:
BTC is a mad animal!

Plunge 25% then jump up again to previous levels, its madness!
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Always more volatile on Fridays as the options close out and those with positions try to pump the market their way. But this was a double whammy with the Brexit. Trading in almost a $100 range today, LOL. But the good news is that after the futures have settled it climbed and there is a lot of press coverage.

e.g.
http://qz.com/715681/world-currencies-are-tanking-on-brexit-but-bitcoin-is-surging/
 
garp said:
Always more volatile on Fridays as the options close out and those with positions try to pump the market their way. But this was a double whammy with the Brexit. Trading in almost a $100 range today, LOL. But the good news is that after the futures have settled it climbed and there is a lot of press coverage.

e.g.
http://qz.com/715681/world-currencies-are-tanking-on-brexit-but-bitcoin-is-surging/
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Never did that, first time I hear on Friday specifically the trades rise,
 
Thor187 said:
At what price should I buy bitcoins?
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Dude.
It's actually not fun trying to help you anymore.
You put hardly any effort into your question, put hardly any effort into doing a bit of research to see what the prices have looked like over the past few months. You haven't even bothered to tell us why you're buying bitcoin - to sell again later for profit or to buy something with?

Lel.
Lol.
Heh.
Whatever man.

Edit:
Sorry.
I'm maybe not in the best mood right now, but come on...
 
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saor said:
Dude.
It's actually not fun trying to help you anymore.
You put hardly any effort into your question, put hardly any effort into doing a bit of research to see what the prices have looked like over the past few months. You haven't even bothered to tell us why you're buying bitcoin - to sell again later for profit or to buy something with?

Lel.
Lol.
Heh.
Whatever man.

Edit:
Sorry.
I'm maybe not in the best mood right now, but come on...
Click to expand...

Might not have been sober at the time.


Here is the background.

I can't mine anymore because it's not worth it.

So I still want to diversify my portfolio as much as possible I bought Kruger rands 3 years ago and yesterday started thinking perhaps I should put a smaller lumpsum into bitcoins as well but want to buy at a price that seems reasonable with all the modern influences it has which I am not aware of.
 
I've been away from the forum for a while, and the Bitcoin price had quite a ride in the meantime.

As a bitcoin speculator, I'm obviously trying to grow my capital as much as possible. I'm curious about how well other local bitcoin speculators are doing, as a benchmark. I don't know any other bitcoin traders in real life, so it's hard to tell.

I've mainly been trading over the short term (days or hours), but I've held on to a long position for longer periods when the market was bullish, like was recently the case. A quick calculation shows 55% growth since January 1, which is somewhat higher than simply holding the coins over the same period would give me (±48%). So for the time being, it seems timing the market might be paying of, even if only a little.

How are you guys faring? Any strategies that seems to be working? Any thoughts on which way price is heading next?
 
Viva said:
I've been away from the forum for a while, and the Bitcoin price had quite a ride in the meantime.

As a bitcoin speculator, I'm obviously trying to grow my capital as much as possible. I'm curious about how well other local bitcoin speculators are doing, as a benchmark. I don't know any other bitcoin traders in real life, so it's hard to tell.

I've mainly been trading over the short term (days or hours), but I've held on to a long position for longer periods when the market was bullish, like was recently the case. A quick calculation shows 55% growth since January 1, which is somewhat higher than simply holding the coins over the same period would give me (±48%). So for the time being, it seems timing the market might be paying of, even if only a little.

How are you guys faring? Any strategies that seems to be working? Any thoughts on which way price is heading next?
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I am also interested in this. I am generally a long guy, but still interested regardless.
 
Tbh, I have no idea on prices,
I brought back in 2015 some BTC,

Hardly moved a inch most of the year, the come dec jumped like a crazy thing, then crashed immediately after,

Even asked on mybb what people knew,
Nobody had any explanation.

Best is to now wait Thor, wait for it to fall to a funny level and then buy and forget about it.

When it spikes, sell before it fall again.

One can think in terms of shares, it works very similar to that.
 
eg2505 said:
Tbh, I have no idea on prices,
I brought back in 2015 some BTC,

Hardly moved a inch most of the year, the come dec jumped like a crazy thing, then crashed immediately after,

Even asked on mybb what people knew,
Nobody had any explanation.

Best is to now wait Thor, wait for it to fall to a funny level and then buy and forget about it.

When it spikes, sell before it fall again.

One can think in terms of shares, it works very similar to that.
Click to expand...

Rather forex since it's a currency.
 
garp said:
Technically, yes. Although it trades more like a stock and all the technical analysis you find online seems to treat it more like share trading.
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Measuring it's volitility in regards to other currencies is easier for me at least when looked at like I'd view EU
 
Need some help please ...

Ok so I'm new to paying with bitcoin. I want to subscribe to a service. I've registered with bitx.co.za. The service I want to subscribe to has this on their order page:

So I assume I buy BTC 0.0335386 and send it to Wallet 1H7KEHHAjWGCbLxzfzw2g4pKaTLuuD72Zf, right? Does one get to enter an account/email address when sending it? What's the Bitcoin URI for?

Capture.PNG
 
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