The Bitcoin Thread

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Temujin said:
WTF, head out for the afternoon, get back and everythings gone to hell... I take it Voicy bought again?
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Lol tsek Vaalie. :p

I actually sold a wee bit today at R300k, but only because I needed to do an online payment in ZAR. Price fell after that. Strange.
 
SaiyanZ said:
Looks like the last 4 hours or so was a pretty well orchestrated dump and pump on Bitfinex. Every half an hour or so there was a dump which induced others to sell because of the steady decline. Now there is a massive buy-in after the price dropped by $1000.
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Pump on bitfinex... Did someone say TETHER?
 
Guys is there any "quite" time to transfer btc for lower fees?

Friend need to pay me via btc, but his btc is on wallet and not an exchange so he has to pay silly btc fees.

Like R1000 for R7500 transfer.
 
Gtx Gaming said:
Guys is there any "quite" time to transfer btc for lower fees?

Friend need to pay me via btc, but his btc is on wallet and not an exchange so he has to pay silly btc fees.

Like R1000 for R7500 transfer.
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Check out the BTC mempool stats here: https://jochen-hoenicke.de/queue/#1w
The miners tend to pick the transactions with highest fees first to add to the new blocks. This will give you an idea of when last it was quiet and what you should expect to pay (btc/byte) to get it confirmed within a reasonable time. If you pay ~0.0005 BTC fee (180s/B) it comes to ~R150.
 
Do you guys keep your btc on luno or wallets. For those who dont trade i mean
 
rakabos3 said:
Do you guys keep your btc on luno or wallets. For those who dont trade i mean
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I keep mine in Electrum wallet. Rather keep it off platforms where you are not in control of the private key. I've lost some with hacks of Bitfinex for example (luckily got BTC off Mt Gox before it got hacked too).
 
rakabos3 said:
Do you guys keep your btc on luno or wallets. For those who dont trade i mean
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Just received my Nano Ledger S today so will take it off the exchange once I get home from work. No point having it on exchange unless you want to trade.

Also can act as a preventative measure if you want to HODL but are an impulsive person :p. You know, having to connect the wallet to the PC, transfer the coin(s) to the exchange and then sell.
 
It seems like there are a lot more bots active on Luno in the last few days. Some are also now trading with larger amounts, like several orders over 0.2 BTC
 
Zulfi said:
How do you know whether bots or not?
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There orders are placed sequentially, with the same amount and pretty much instantly. If you place an order in front, then they're in front again in an instant, must be like 0.1ms reaction time or something. So unless someone buys or sells large enough amounts, or there are walls, the bots are eating up nearly all the volume on Luno. There's not much BTC volume to go around too. Today was a fairly average morning with the volumes. Total amount of BTC traded on Luno per half an hour never exceeded 20.
 
SaiyanZ said:
There orders are placed sequentially, with the same amount and pretty much instantly. If you place an order in front, then they're in front again in an instant, must be like 0.1ms reaction time or something. So unless someone buys or sells large enough amounts, or there are walls, the bots are eating up nearly all the volume on Luno. There's not much BTC volume to go around too. Today was a fairly average morning with the volumes. Total amount of BTC traded on Luno per half an hour never exceeded 20.
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Can you please explain to me the purpose of this? Why have bots do this? To Drive the price up or down?
 
rakabos3 said:
Do you guys keep your btc on luno or wallets. For those who dont trade i mean
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I keep mine divided between a trezor and a ledger hardware wallet. I sell both so am using both to test them with my own bitcoin. I dont actually trust any website or exchange to hold my bitcoin. It might be that they could get hacked, but its more likely that a user might click a link and go to a phishing site, or get email hacked and someone could get into your account....maybe if your phone is stolen too, that could be all someone needs to empty your bitcoin account.
 
fiaskow said:
I keep mine in Electrum wallet. Rather keep it off platforms where you are not in control of the private key. I've lost some with hacks of Bitfinex for example (luckily got BTC off Mt Gox before it got hacked too).
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Still deciding between using a software wallet or buying a hardware wallet, may I ask why you choose Electrum? Isn't it less secure than a hardware wallet.
 
Zulfi said:
Can you please explain to me the purpose of this? Why have bots do this? To Drive the price up or down?
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To trade and make profits like the rest of us that trade. If I can make a few thousand rands doing a couple small trades a day these bots must be raking in millions a week in profits.
 
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