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Question of the Day: What is the ultimate French toast topping?
The Bitcoin Thread
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Adenoid Hynkel
Executive Member
And so it begins...
Dan C
Honorary Master
Voicy sold, expect the price to climb. :crylaugh:
Despite knowing the HODL rule, I made a rule for myself to sell before the fork and to do so before dipping below my break-even buy in amount.
Not withdrawing from my wallet, so I can always buy in again later. But going offline for a while soon, so playing it super safe.
Despite knowing the HODL rule, I made a rule for myself to sell before the fork and to do so before dipping below my break-even buy in amount.
Not withdrawing from my wallet, so I can always buy in again later. But going offline for a while soon, so playing it super safe.
Jet-Fighter7700
Honorary Master
I like your style voicy, I did exactly the same, brought a tiny bit to see where it goes,
but sold my big stake when I made my target
Mier
Expert Member
What price did you sell at ? I see it's climbed back to ~77500
Of course it climbed back up. I sold when it hit 73k. I logged in when the <75k alert popped up on my phone and 1min later it was already 2k down...so obviously when I sold it bounced right back up, as is tradition.
But yeah no, I'll wait until after the forks and nonsense gets sorted out.
Mier
Expert Member
Eish.
Don't worry, I've got burnt a few times myself trying to time the market.
It helps that less than half my investment value is capital I've put in, so when it drops I try to tell myself that I'm not really losing anything yet.
handyman007
Expert Member
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Hodling most of my Bitcoin longterm, so not worried about the price dipping every now and again. I'm no trader.
Tabac
Honorary Master
Allready 3 K lower that 3 days back. But, also slowly climbing. Market depth looks like it should go up. But crap, I don't know.
Sensorei
Executive Member
The current ±$5300 rate on Bittrex is now the same as it was around 9 to 10pm on 12 October. The Luno rate then was just under R72,000. R/$ was almost the same as it is now. Does not even match up closely. Over R4500 difference.
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That's why I want more transparency from LUNO!
Ho3n3r
Honorary Master
Profitability tanked so much around 28/29 September that I'm not mining any more, because it's nearly half as profitable as it was before that. I am guessing that's when the first batches of D3's went live.
Barbarian Conan
Executive Member
What do you want to see?
A list of buy and sell offers maybe? (spoiler, they have that)
Sensorei
Executive Member
Precisely. The Luno guys are playing their own game here. Ka ching!
Lunomoney
Luno Representative
Happy to help where I can, are you questioning the difference in price?
Natas
Expert Member
Technically, the price difference between Luno and international exchanges should be equal to the cost of moving funds, ie the cost of converting rands to dollars in order to buy BTC on a foreign exchange.
The price difference or arbitrage is usually higher when BTC is on a Bull run, locals scrambling to buy a relatively limited supply of BTC on the local exchange. I have sold BTC at a R15k premium five minutes after buying them on Kraken. Lots of people did it and I think that more recently there is enough liquidity in the market to bring the arbitrage down. I also think that after Luno got that recent cash injection they have been absorbing the arb themselves, why wouldn't they, it's free money.
I cant stand the idea of buying BTC on Luno where you generally pay a premium to foreign markets. Late last week however you could have made 100 Euro per coin buying BTC on Luno and selling it offshore.
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