The Bitcoin Thread

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Lol, what was it, a month ago, that I said I will wait for Bitcoin to hit R100k and then evaluate my options, and eveybody was saying I was crazy :D
 
balrog said:
Lol, what was it, a month ago, that I said I will wait for Bitcoin to hit R100k and then evaluate my options, and eveybody was saying I was crazy :D
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A month ago. I said it in January and people wanted to get be banned.
 
Thor said:
Buy Civic.
https://platinumwealth.co.za/forum/Thread-How-to-buy-Civic-Tokens
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I've known Vinny since the days he still worked in his dad's corner shop. But I'm mates with his brother though. Still a bit unsure about civic, but if BTC has taught me anything, it's worth making mistakes early on. If we all took your advice and bought BTC when it was pocket change, we'd be smiling now...unlike the dude who bought 2 pizzas for 10,000BTC. :D
 
Gtx Gaming said:
That's if the exchange has enough to pay you :)
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Please explain.

In order to make any 'real' profit, you need to sell to another exchange user (or multiple other users).
The ZAR will therefore come from other users' ZAR wallets to yours, not the exchange.
 
Mier said:
Please explain.

In order to make any 'real' profit, you need to sell to another exchange user (or multiple other users).
The ZAR will therefore come from other users' ZAR wallets to yours, not the exchange.
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Other users might have used mining profits converted to BTC and then moved to luno and use that to buy and sell btc. If they did this luno did not receive any ZAR they could use for payouts.

Not all users actually purchased there BTC with ZAR.

I am sure luno has decent amount of ZAR to pay out users, but not if someone wants few million right now :P
 
Mier said:
Please explain.

In order to make any 'real' profit, you need to sell to another exchange user (or multiple other users).
The ZAR will therefore come from other users' ZAR wallets to yours, not the exchange.
Click to expand...

On a small exchange there is not enough trading volume to fill everyone's orders when the price sudden peaks or dips. Eg. If it drops briefly now to R97K on Luno now but there are only 20BTC up for sale, yet orders are in for 50BTC. Only the orders for the first 20 are filled and you can lose out because it's already up to R99K.
 
Gtx Gaming said:
Other users might have used mining profits converted to BTC and then moved to luno and use that to buy and sell btc. If they did this luno did not receive any ZAR they could use for payouts.

Not all users actually purchased there BTC with ZAR.

I am sure luno has decent amount of ZAR to pay out users, but not if someone wants few million right now :P
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Mier said:
Please explain.

In order to make any 'real' profit, you need to sell to another exchange user (or multiple other users).
The ZAR will therefore come from other users' ZAR wallets to yours, not the exchange.
Click to expand...

Maybe the second time you'll realise that this makes your concerns moot GTX :p
 
Sensorei said:
On a small exchange there is not enough trading volume to fill everyone's orders when the price sudden peaks or dips. Eg. If it drops briefly now to R97K on Luno now but there are only 20BTC up for sale, yet orders are in for 50BTC. Only the orders for the first 20 are filled and you can lose out because it's already up to R99K.
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What you're saying is the users may not have enough cash to buy the BTC, which is entirely different to saying the exchange won't have it.
 
eg2505 said:
altcoins are a nice idea, but I think they shoot themselves in the foot many times,

I mean the more fragmented crypto is, the harder it is for a layperson to jump in,

fair enough the JSE isnt that easy to understand, but for an emerging technology, alts just make life harder for everybody,
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Pick the winners. The ones you can see a genuine use for.
 
eg2505 said:
altcoins are a nice idea, but I think they shoot themselves in the foot many times,

I mean the more fragmented crypto is, the harder it is for a layperson to jump in,

fair enough the JSE isnt that easy to understand, but for an emerging technology, alts just make life harder for everybody,
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Indeed. Every few weeks I discuss Bitcoin with non-techie friends (just to see what 'the man in the street' is thinking). The only thing they are hearing is 'Bitcoin'. Literally no clue about alt-currencies.
 
Thanks to alt-coin trading, I have multiplied my BTC holdings many-fold.

As @Thor said - pick the ones that have great teams behind them and will solve a real-world problem. I also vouch for Civic - and I have bought some AVT (Aventus). An awesome project by a UK team that will end the issues they have with scalpers of events tickets. Then I also bought some others which I believe will blow up in 2018...
 
Archer said:
What you're saying is the users may not have enough cash to buy the BTC, which is entirely different to saying the exchange won't have it.
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No. It is about small exchanges not having enough liquidity for short term traders who are doing quantities of BTC at a time.

On a big exchange like Bittrex, if you put a buy/sell order in for X amount, when it hits X your order will go through. Not the case on Luno if you are dealing in bigger orders.
 
Sensorei said:
No. It is about small exchanges not having enough liquidity for short term traders who are doing quantities of BTC at a time.

On a big exchange like Bittrex, if you put a buy/sell order in for X amount, when it hits X your order will go through. Not the case on Luno if you are dealing in bigger orders.
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You're going off on a tangent...
Getting money out of an exchange is not the same as whether orders can be fulfilled
 
I use Luno to buy and sell Bitcoin. What other exchange can I use if I want to buy and sell all other crypto? Ease of use, easy to set up and simple interface (possibly with app) as my main points?
 
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