The Bitcoin Thread

Status
Not open for further replies.
dj2381 said:
Delivery can take up to 22 days, so another 2 or 3 weeks I rate, meanwhile I'm looking at building a Ethereum rig with a couple of 480s and a Ryzen CPU which can also be used by my wife for rendering her designs, happens very rarely but I'm sure it would be a good selling point.
Click to expand...
Right, but isn't CPU mining pointless for eth? Couldn't one use a Intel dual-core or something like an I3 instead?
 
Morning. So maybe a stupid question, but if i don't ask then i will stay stupid. :crylaugh:

Yesterday when on the Luno platform they stated the price is 19500, I used the instant buy button. Appon looking at my transaction statement I bought BTC at 20342 !! How does that work ? :confused:
 
HunterNW said:
Morning. So maybe a stupid question, but if i don't ask then i will stay stupid. :crylaugh:

Yesterday when on the Luno platform they stated the price is 19500, I used the instant buy button. Appon looking at my transaction statement I bought BTC at 20342 !! How does that work ? :confused:
Click to expand...
When you use instant buy, Luno will get you the best offers from the asks, and then on top of that they charge you 1% fees. You can be unlucky if there are no reasonable ask prices, but that looks like a huge spread. I suspect that the 19500 value was not updated on your app. Best not to use instant buy, rather trade, so you get your exact price and you also don't pay any fees.
 
HunterNW said:
Yesterday when on the Luno platform they stated the price is 19500, I used the instant buy button. Appon looking at my transaction statement I bought BTC at 20342 !! How does that work ? :confused:
Click to expand...
Never use instant buy, fee's are around ~2% if you do and always higher. I got burnt too, questioned them on this as it's a vague explanation on their website. End of the day this is what I was told:

"When using the Instant Buy / Sell page to trade, the fees are not the same as when using the Exchange page. Luno will give you a quoted exchange rate which does include a premium when using the Instant Buy / Sell page.

The rate of the premium can be calculated if you calculate the percentage difference between the "effective rate" quoted on the Instant Buy / Sell page and the price shown at the lowest ask (or highest bid). We cannot definitively tell you what the premium percentage is because it varies depending on market conditions.

Bitcoin is volatile and market conditions can change rapidly. The premium is levied because Luno accepts additional risk by issuing a quote valid for 30 seconds to compensate for this risk."

This was their suggestion:
"Again, please remember that when making use of our Exchange page however, you will always incur lower fees. This is what I would recommend if you wish to keep fees low and trade at rates actually indicated in the order book.".

Hope it helps!
 
Last month I purchased R15K worth of BTC @ ~R16750. Checked and it stated the price I bought at was R17091.
 
Morning. Thanks all for the replies regarding Luno's instant buy/sell. Damn fckers. (That being the Luno guys). :crylaugh:
 
First payout coming tomorrow :) BTW does anyone know the maximum power draw you could get from an average sized house? Is there some sort of limit?
 
dj2381 said:
First payout coming tomorrow :) BTW does anyone know the maximum power draw you could get from an average sized house? Is there some sort of limit?
Click to expand...
If I remember correctly the main circuit breaker is 80 amps. Do you have 3 phase ?
 
balky said:
If I remember correctly the main circuit breaker is 80 amps. Do you have 3 phase ?
Click to expand...

Not too sure, where do I check? I know nothing about electrics.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X