The Bitcoin Thread

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Sensorei said:
I calculated $4800/month profit using coinwarz calc - from a D3 doing 15GH/s, using a difficulty of 880K, 1200W power comsumption, 1.80 block reward, at current BTC/DASH rate after deducting my electricity costs. Not bad for an R80,000 miner.
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Hardly R80k.
R60k-R70k for 2.
 
OK, I'm taking the kortpad here. AFAIK, Bitcoin is now available for R 65k or thereabouts. Is it still a good investment? Someone told me they expected it to peak at a much lower figure than that, but it is still rising.
 
handyman007 said:
OK, I'm taking the kortpad here. AFAIK, Bitcoin is now available for R 65k or thereabouts. Is it still a good investment? Someone told me they expected it to peak at a much lower figure than that, but it is still rising.
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$15k per bitcoin then I'll start to apply caution.
 
Masataka said:
Luno only balances out if you buy and sell your BTC there, but once you move it and trade for other coins elsewhere, you're technically starting with a loss - is that right?
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I Just transferred 0.01 Bitcoin from Luno to an exchange, withdraw cost freakin 7.5%. This is probably due to their dynamic fee structure which tries to minimize verification time.

Luno: If I am willing to wait longer it would be nice to have an option of a lower fee.
 
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etienne_marais said:
I Just transferred 0.01 Bitcoin from Luno to an exchange, withdraw cost freakin 7.5%. This is probably due to their dynamic fee structure which tries to minimize verification time.
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I think if it wasn't for the volatile nature of the currencies, Luno would be dead in the water as you'd never be able to recover from the overheads.

10%+ premium on buying the coins using ZAR, and then 7.5% withdrawl fee :sick:
 
Thor said:
$15k per bitcoin then I'll start to apply caution.
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My take - global markets are way overvalued in historical terms, compared to the size and growth of their economies, so bottom line, they are most probably in a bubble that could be even bigger than 2008. Savvy investors know this, or at least appreciate the risk, but the traditional haven of gold is lacklustre. Considering that there is $5trn just in the Dow Jones, and many more trillions in global equities, while the total market cap of cryptos isn't much more than $100bn, if only a small percentage of investors hedged into cryptocurrencies there is a massive amount of money that could be heading into them if things started to look shaky in mainstream markets.
 
Masataka said:
10%+ premium on buying the coins using ZAR, and then 7.5% withdrawl fee :sick:
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Is that seriously their withdrawal fee? I can understand the premium local price, since it accounts for the difficulty and fees of buying dollars in order to buy BTC on a dollar exchange, but 7.5% to take it out is extortionate.
 
garp said:
Is that seriously their withdrawal fee? I can understand the premium local price, since it accounts for the difficulty and fees of buying dollars in order to buy BTC on a dollar exchange, but 7.5% to take it out is extortionate.
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To be fair, it is variable and changes to help get your transaction through faster, but it is pretty damn steep.
 
Masataka said:
I think if it wasn't for the volatile nature of the currencies, Luno would be dead in the water as you'd never be able to recover from the overheads.

10%+ premium on buying the coins using ZAR, and then 7.5% withdrawl fee :sick:
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Withdrawal into Rands is a flat R8... where are you pulling 7.5% from? And if you're referring to BTC transfers, best you learn about the miner fees attached to it before you blame Luno
 
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