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Sign up with GoogleThe Bitcoin Thread
- Thread starter Keeper
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That looks like the rating of your main circuit breaker. If there is only one, then you have single phase.
etienne_marais
Honorary Master
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- Mar 16, 2008
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Right now at 21786 on Luno exchange, my very first bid was on 26/4/17 @ 17 560, minute amount though.
Crazy times, it just hit 22k on Luno, and like a fool I sold 20% of my bitcoin at 20k
Remember that there's no set price, it'll differ per exchange.
Markets are based on supply and demand, which in turn will then set the price. If there's higher demand in SA and our exchange specifically, the ZAR price may creep up.
It's the same for other international exchanges too - there's no standard price
Here's an example below:
https://www.gdax.com/
https://www.bitfinex.com/
Another factor that plays into this is exchange controls per country. If someone were able to easily arbitrage between USD and ZAR, chances are our price would fall closer in line with the average USD price for those exchanges.
Hope this makes sense
It's also worth taking a look at a site that allows you to view per exchange, I've linked in my two favourite below.
https://bitcoinity.org/markets
https://bitcoinwisdom.com/
In the background it gets fairly complex.
The Instant Buy/ Sell looks at the available liquidity and what's available at the value you're requesting it. The page then generates a quote for 60 seconds. If the order is executed, the order is still placed on the exchange, but in the background.
Any BTC order is made on the exchange, it's just easier and quicker to do it via Instant Buy and Sell.
Hope that makes sense
Bitfinex is not a good example. For the past few weeks they have had problems with American banks. The banks are not allowing USD fron Bitfinex into the USA, so the only way users of Bitfinnex can withdraw funds is by selling bitcoin and withdrawing the bitcoin. This causes the price on that exchange to shoot up. Other exchanges are having similar problems.It's the same for other international exchanges too - there's no standard price
Here's an example below:
https://www.gdax.com/
https://www.bitfinex.com/
Fair enough, but the post was meant to show that there are discrepancies between exchanges and regions.
It's usually pretty standard, when one exchange gets too high the arbitrage traders jump in which in turn normalises the price.
Yes normaly the exchanges are within 1 or 2 % of each other, but because of the banks causing problems arbitrage doesn't work, hence the huge differences.
Haha, I wish I knew!
It'll end when it gets to the moon, I guess
Seriously though, the more demand there is higher the price will go. Seen a few good YouTube channels with technical analysis which is interesting, not sure I'd take it as solid advice though.
https://price.bitcoin.com/ I know it's not Luno but damn!
Damn it just keeps going, I sold my coins to start mining, I should have waited a bit, I could have bought a few more miners
So these are the places that allow you to spend bitcoin, are there any others that aren't listed?
https://www.payfast.co.za/2015/06/05/10-awesome-places-to-spend-bitcoin-in-south-africa/
https://www.payfast.co.za/2015/06/05/10-awesome-places-to-spend-bitcoin-in-south-africa/
Nice to see quite a few places accept bitcoin.
Idiosyncratic
Expert Member
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- Oct 10, 2015
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Yikes, when will it stop going up?!
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