The Bitcoin Thread

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Gtx Gaming said:
New contract would start when the old one ends and the min buy in is 5BTC if I remember correctly.
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The futures are all USD-settled. Nobody has to buy and own any actual BTC. So this does not mean there will suddenly be BTC buyers after tomorrow.
 
SaiyanZ said:
BTC has been teasing for a few days. When it breaks below a barrier like $10k or $11k it recovers almost immediately and holds its price. Normally when it breaks through walls you'd see it keep going down for a while.
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Aka... Consolidation

Although we are now banging head on the longer term downtrend. if it doesnt get through ~11500 ans stay above we are going to continue drifting lower
 
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*SynergyX* said:
Aka... Consolidation

Although we are now banging head on the longer term downtrend. if it doesnt get through ~11500 ans stay above we are going to continue drifting lower
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I think we can have a quick push up to close to $13k before another downturn. People on Luno are also very eager to buy at the slightest upswing. There were people buying large amounts on Luno (+5 BTC at a time) last night and this morning. If the dollar price starts to climb above $12k we will go very quickly to R160k. I'm going to play it safe and not sell to rebuy for lower until it's more clear where we are going.

The Rand isn't playing the game though. Now below R12 to the dollar. When the rest of the world are enjoying their $20k BTC again we going to be around R240k instead of above R300k. South Africans have taken a double hit on cryptos. Around 20% more down compared to everyone else because of the stronger Rand.
 
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As someone else mentioned earlier in the thread, it seems that the Rand's recent performance is less due to it's own strength than continued weakness of the USD.
 
OllieSA said:
As someone else mentioned earlier in the thread, it seems that the Rand's recent performance is less due to it's own strength than continued weakness of the USD.
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Doesn't matter whichever it is. BTC is traded mainly in USD around the world. If the USD weakens or Rand strengthens, our BTC rand value goes down.
 
This 0.25% fee on BTC/ ETH trading is really slowing down the trading on Luno. When ETH was about a third of the value it is now in BTC terms when this exchange was introduced, buying with fees was the same as buying at 1 value on the exchange higher without fees. I got that because it stopped you from profiting from just buying with fees and setting a sell order at the next value. Now buying with the fees is the same as buying at almost 3 points higher. I get that they get the same amount of fees now for the same rand spend as before but now it's so easy for big orders to control the book because noone wants to buy with fees anymore. Makes it impossible to trade on that market
 
L10Yn said:
This 0.25% fee on BTC/ ETH trading is really slowing down the trading on Luno. When ETH was about a third of the value it is now in BTC terms when this exchange was introduced, buying with fees was the same as buying at 1 value on the exchange higher without fees. I got that because it stopped you from profiting from just buying with fees and setting a sell order at the next value. Now buying with the fees is the same as buying at almost 3 points higher. I get that they get the same amount of fees now for the same rand spend as before but now it's so easy for big orders to control the book because noone wants to buy with fees anymore. Makes it impossible to trade on that market
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you are better off trading on a USD exchange- the functionality is better and the liquidity even 10 X better.
 
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