The Bitcoin Thread

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Was at the luno bitcoin event at bandwidth barn there they already said the etf won't be approved so I think the market did not give it much weight
 
Thor187 said:
Was at the luno bitcoin event at bandwidth barn there they already said the etf won't be approved so I think the market did not give it much weight
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Interesting - I was there too. Pity we didn't have our usernames on our shirts :D
 
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Viva said:
Interesting - I was there to. Pity we didn't have our usernames on our shirts :D
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I shouldve wore my name tag!!

I did have the toe shoes

(I was drinking all the free wine and ciders, I can remember 10% of Andreas' speech) something about a horse vs a drone I don't know
 
Well that was interesting. Based on what the experts predicted, I thought that BTC would go down to about R13k. The good news is that Bitcoin is more stable than most people thought. Will there be a small bull run now?
 
Is there a limit to the amount you can buy at once on Luno?

Edit: Nevermind I found it.
 
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I'm so tempted to buy but Im not sure it's the right time yet, I also don't wanna be caught with my pants down.
 
I actually think tons of people waited for this moment to buy and that's contributing to the price stability (not the only reason, just saying it's part of it)
 
Idiosyncratic said:
I actually think tons of people waited for this moment to buy and that's contributing to the price stability (not the only reason, just saying it's part of it)
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Seems plausible. Shame, judging by comments on Reddit last night a lot of the margin traders lost their shirts as they were stopped out due to the heavy price swings.
 
So a quick calculation here https://price.bitcoin.com/ with the current dollar exchange rate at R13.14 gives me R16262.45 per BTC but on Luno it is sitting at R17148.00, any reason for this big difference?
 
dj2381 said:
So a quick calculation here https://price.bitcoin.com/ with the current dollar exchange rate at R13.14 gives me R16262.45 per BTC but on Luno it is sitting at R17148.00, any reason for this big difference?
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Bitcoin is USD based and so if you want to buy BTC you have to go via USD and you cannot buy dollars at that rate. That rate is an average rate of buying and selling dollars. Also there will probably be bank fees thrown in.
 
balky said:
Bitcoin is USD based and so if you want to buy BTC you have to go via USD and you cannot buy dollars at that rate. That rate is an average rate of buying and selling dollars. Also there will probably be bank fees thrown in.
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While I'm sure there are extra charges I am just wondering why it's such a huge difference? I mean that's around 880 bucks.
 
dj2381 said:
While I'm sure there are extra charges I am just wondering why it's such a huge difference? I mean that's around 880 bucks.
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There is no single "bitcoin price" really. Just a ballpark figure of what you can expect to pay at several exchanges. There will pretty much always be a price difference due to the currencies different exchanges use, liquidity, how easy it is to arbitrage between them etc. Even on the big dollar based exchanges there can be huge gaps at times.
 
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