The Bitcoin Thread

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C4Cat said:
Do you guys think bitcoin is a good option for sending money overseas?
I'm traveling to the USA tomorrow and was thinking of buying a bitcoin or 2 and then selling them for cash in the US, using localbitcoins.
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Not a bad idea, especially if you do the opposite, buy with USD and convert to BTC, and sell here,
Unfortunately the price is quite high, so not much use in buying right now
 
eg2505 said:
Not a bad idea, especially if you do the opposite, buy with USD and convert to BTC, and sell here,
Unfortunately the price is quite high, so not much use in buying right now
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I'm not sure the price is high, although I'm admittedly new to bitcoin.
I mean it's relatively high, compared to what it has been in the past but I think it's it's on an upward trajectory and will keep going. I bought some on the 10th it was 9293.68 ZAR to 1 BC. 3 days later and it's at 11093 on bitx. Ok, I've read one of the 'issues' with bitcoin is that the price is very volatile, one of the reasons people are reluctant to get in, but I predict it will eventually stabilize at a price much higher than it currently is now. Anyway, I bought a small amount on the 10th, just dipping my toes in the water!
 
I think it is on an overall upward trajectory, especially with the upcoming halving, but if past experience is any indication it will drop again but always to a higher base level than before. My gut feel is that maybe it's peaked a bit and will correct down to trade sideways in the $550 range for a while before the next upward trend. Of course, the bit of media interest in it's recent spike in value might also cause a FOMO frenzy which sent it into the $1000 range a few years back.
 
Nobody here made any decent money from this recent peak we just saw? Hit around 12500 a day or two ago.
 
eg2505 said:
Probably still partying in Ibiza with that cash,

Do you think it will get to its last highest mark?
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Dunno, seems to have leveled out somewhat and will probably drop back down, be interesting to see if it settles at around 6500 again or what it's gonna do. Missed out on a big opportunity to make some money here. Eh - next time.
 
saor said:
Nobody here made any decent money from this recent peak we just saw? Hit around 12500 a day or two ago.
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I'm just going to hold on to my btc and buy a couple hundred rand every month and wait and see. I think, over time, the price will rise a lot more but that's more hopeful thinking than anything else...
 
saor said:
Dunno, seems to have leveled out somewhat and will probably drop back down, be interesting to see if it settles at around 6500 again or what it's gonna do. Missed out on a big opportunity to make some money here. Eh - next time.
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Best plan if if it falls to something funny again, buy a lot and keep it.
Then during one of these spikes, profit very nicely,
 
C4Cat said:
Did you sell because you needed the cash or because you don't think they're worth holding onto into the future?
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Just had a use for the cash. Keep in mind that getting the money back in ZAR is a tad problematic.
Went with selling some via Carbonite.

And I was forgetting my wallet passwords or rather I did :D Everything is now in CoinBase.
 
So how did you do that sale via carbonite?
Post a advert selling x BTC for zar? At the current rate?

I'm curious to know exactly how to convert BTC as efficient to zar,
As when the next spike happens, I wanna be ready....
 
Pho3nix said:
Just had a use for the cash. Keep in mind that getting the money back in ZAR is a tad problematic.
Went with selling some via Carbonite.

And I was forgetting my wallet passwords or rather I did :D Everything is now in CoinBase.
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Why not just use Bitx? Local exchange - easy to move between R and BTC.
 
eg2505 said:
So how did you do that sale via carbonite?
Post a advert selling x BTC for zar? At the current rate?

I'm curious to know exactly how to convert BTC as efficient to zar,
As when the next spike happens, I wanna be ready....
Click to expand...

Sold to the resident miner there. Gave him my price, send the coins, got an eft after the coins confirmed to be in his wallet.
Note that I know he is a reputable person and I had dealt with him before.

No pesky Sars to deal with :D
 
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