The Bitcoin Thread

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Currently sitting at $922 = R11727, what's up with that massive difference?
 
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dj2381 said:
So now I'm really confused https://price.bitcoin.com/ yet the price on Luno is sitting at BTC/ZAR 16,820???
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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/
 
Lunomoney said:
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/
Click to expand...

Thanks for the links, I will be avoiding that previous site, it was showing a 25% drop in BTC price yesterday, which almost made me press the buy button only to see the price hardly moved elsewhere, after about an hour and a few refreshes it showed no such drop in that hour.
 
dj2381 said:
Thanks for the links, I will be avoiding that previous site, it was showing a 25% drop in BTC price yesterday, which almost made me press the buy button only to see the price hardly moved elsewhere, after about an hour and a few refreshes it showed no such drop in that hour.
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Depends where you're buying and selling - if there's a drop in price on GDAX, as an example, it doesn't mean that same % drop will happen on Luno.

Our price chart is listed here https://www.luno.com/en/price
 
Down and down and down, is everyone holding? This would go and happen right after I bought some :(
 
dj2381 said:
I'm in it for the long haul, maybe grab some more on the bottom, just a bit concerned it doesn't pick back up.
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I wouldn't worry tbh, the long term trend is up
 
Alts shot through the roof these past few days. Ethereum and Dash doubled in price.
 
Thor187 said:
I said buy ethereum, people hesitated, I said buy ethereum, people said they don't know how. I said here, I'll make you a how to guide: https://platinumwealth.co.za/forum/Thread-How-to-buy-Ethereum people said but how does ethereum work, people just made one excuse after the other now I'm sitting thinking of whether I must pay the full amount or just the deposit.
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Eth and Z are the two alts that will rule. One for smart contracts and the other for anonymity. Can't wait!
 
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