The Bitcoin Thread

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How did your know I like clubbing and fast foods... Indeed, hindsight is 20/20...better late then never.

Ummmm... My bad. It's just the different exchange rates on the between luno and mycelium. Same amount of btc from one exchange to the other..

Thanks, too the moon
 
COMPUTEK said:
It might also never see 170k again, so there is never really a definite time to buy or not to buy ... I buy a little every month no matter what the price :whistle: ... can't hang around for if's and maybe's
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Waylander said:
This is actually a decent strategy, instead of throwing $ into clubbing/fast food - throw it into something that might actually make you money.
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petum said:
How did your know I like clubbing and fast foods... Indeed, hindsight is 20/20...better late then never.

Ummmm... My bad. It's just the different exchange rates on the between luno and mycelium. Same amount of btc from one exchange to the other..

Thanks, too the moon
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That's quite a good strat because COMPUTEK then absorbs any price spikes or dips through averaging his buy-ins. Ive been doing the same lately in small increments. Some of those buy-ins were at all time highs - for that time, but the price kept climbing so it didn't matter.

I've also heard from a few guys who have quit smoking and instead buy bitcoin exclusively with their cig money. They also buy in as soon as they can and hodl. The cool thing here is, if it moons they win, if it crashes, they're still no worse off money-wise, but without the added tar in their lungs.

So yeah I think for anyone hesitant of bitcoin, use pocket money that you would've "wasted" on something else and treat it like permanent lent of sorts.

Selling your car and taking out a loan to buy bitcoin is maybe not the safest way of going about things. :p
 
petum said:
At luno's price. Didn't think I had a choice. Did it 5 mins ago. Checked what rate and it was at R193877.00? Did I do something wrong
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Not sure how mycelium works but on Luno you have "instant buy" which is a lot of fees and then you have trade on exchange. Even on the exchange you incur fees if you buy at the current asking price, if you set a different order to buy or sell you pay no fees - but the fees amount is stated on the order.
 
handyman007 said:
https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

Anyone seen this? Opinions?
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Looks like par for the course caution.

Everyone already knows that with bitcoin futures on Dec 10 comes (even more) uncertainty about price. They will obviously try to short bitcoin, causing the price to plummet, but it's already legal tender in many places and in its core it is an efficient ledger - meaning bitcoin has worth - it's not just "pretend money".

So if it plummets, I'm pretty sure it'll pick itself up again, especially since its becoming popular, so more and more people will grab it at lower prices (including us) and that'll force it back up again...

Worst case, if it falls and doesn't recover, it's going to have to fall long and hard before most of us actually end up losing money on our initial investment...and even if you do, you only ever LOSE money on bitcoin if you sell. If it falls through the floor, keep holding until it picks back up again.

I dunno, people like Thor etc will probably have more say in the matter, but as always ... only put in what you're prepared to lose. There's a reason most of us haven't invested 100% of our worth in it despite the ROI right now.
 
handyman007 said:
https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

Anyone seen this? Opinions?
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Well, I just read up a lot of other articles about that, and while there may be some merit, it is also important to use correct facts.

The article states:

1) "Bitfinex has dominated the world’s Bitcoin trade on exchanges, with a 41.72% market share over the last seven days."

and

2) "The next biggest player is the US-based exchange, Coinbase, with 25.78% market share."

Looking at this last 24 hours trading on markets, I only see Bitfinex at second place with 8% . I don't even see Coinbase?

Am I missing something?
Or is that article misleading with those stats?

So....yeah...just another doomsayer, but the story is noted.
 
Voicy, I don't think you understand the issue at play regarding tether judging by your post. It's a weird thing that has nothing and everything to do with BTC at the same time.
 
Gory51 said:
Am I missing something?
Or is that article misleading with those stats?

So....yeah...just another doomsayer, but the story is noted.
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The article is talking specifically about BTC/USD volume, you're looking at volume of any and all BTC trading pairs
 
Archer said:
Voicy, I don't think you understand the issue at play regarding tether judging by your post. It's a weird thing that has nothing and everything to do with BTC at the same time.
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You're probably right. I'm faaaar from educated and up to speed enough on everything going on right now, but I'm enjoying the learning process. So feel free to call me a noob and correct my posts. :o
 
The best I can do on mobile is to say that bitfinex created tether out of thin air to repay debts (from what the debt came from I can't recall), although it's supposed to be backed 1:1 by actual USD. But people are starting to doubt that it is backed and now the tinfoil hats are coming on suggesting that bitfinex is doing some epic manipulation, like how a bunch more tether was created just before the BTC price shot up. High BTC price basically keeps them going despite being in arrears.
Something like that anyway
 
Archer said:
The article is talking specifically about BTC/USD volume, you're looking at volume of any and all BTC trading pairs
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Aha thanks.

Archer said:
The best I can do on mobile is to say that bitfinex created tether out of thin air to repay debts (from what the debt came from I can't recall), although it's supposed to be backed 1:1 by actual USD. But people are starting to doubt that it is backed and now the tinfoil hats are coming on suggesting that bitfinex is doing some epic manipulation, like how a bunch more tether was created just before the BTC price shot up. High BTC price basically keeps them going despite being in arrears.
Something like that anyway
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That's what I got from it all as well. Pretty scary. However there is an article I read now where they say a full audit report will be available shortly. Whether that materializes or not is another question.
 
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Archer said:
The best I can do on mobile is to say that bitfinex created tether out of thin air to repay debts (from what the debt came from I can't recall), although it's supposed to be backed 1:1 by actual USD. But people are starting to doubt that it is backed and now the tinfoil hats are coming on suggesting that bitfinex is doing some epic manipulation, like how a bunch more tether was created just before the BTC price shot up. High BTC price basically keeps them going despite being in arrears.
Something like that anyway
Click to expand...

So Poloniex's tether... what's that then in relation to Bitfinex's?
 
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