The Bitcoin Thread

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garp said:
Of course, this is the last thing you want if you're an active trader with the balls for margin trading, lol.
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On the contrary, it's a brilliant opportunity to sell and buy again...
 
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I wouldn't be surprised to see it go past $5k today or this weekend.

Market depth says it'll struggle again around $4.7, $4.9 and $5k but the depth is definitely skewed towards long term growth.

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Right now you're not going to get in easily - it's cruising like a steam train.
There's a big sell order at around $4629 of 22 BTC on Poloniex.

Here's Leonardo's market depth chart for Poloniex BTC/USDT

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The resistance is at various stages between $4.6 and $4.8 in the immediate term.
 
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Quite some market correction going on. Wonder when it will end.
 
garp said:
It's good that the market is correcting somewhat. If you're in it for longer term growth you don't actually want parabolic price increases because that's bubble territory. I'd much rather things calm down a bit and get boring for a while. It's been way too overheated recently and needs to consolidate. Of course, this is the last thing you want if you're an active trader with the balls for margin trading, lol.
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Actually this is exactly what active traders want. I've been buying and selling all day.
 
Knyro said:
Actually this is exactly what active traders want. I've been buying and selling all day.
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I think you misread. I wasn't referring to current market conditions but rather that it would be better for long term growth if BTC was a bit less volatile.
 
garp said:
I think you misread. I wasn't referring to current market conditions but rather that it would be better for long term growth if BTC was a bit less volatile.
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Yes I got that. Then what did you mean by this?

this is the last thing you want if you're an active trader with the balls for margin trading
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Azg said:
He meant active traders do not want calm conditions / steady prices, as they profit from the volatility.
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But the price is not steady from an active trader perspective. It's been whipsawing hard all day, which is the exact kind volatility day traders want.
 
Just need a few more hours to iron out my little project then I will drop it here.
 
Knyro said:
But the price is not steady from an active trader perspective. It's been whipsawing hard all day, which is the exact kind volatility day traders want.
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Which is what he said. I also misread.
 
garp said:
Thanks! Very useful to have a convenient page with ZAR values and charts!! Kudos.
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I will add luno's pricing and charts for bitcoin and Ice3X's for ethereum just had to take a break my head hurts.
 
Hello All,

First post here.

- I've just bought my first small chunk of Bitcoins on Luno.
- Sent them to Kraken.
- Bought some Ripple coins.

Question: If I sold my Ripple coins for USD, then bought Bitcoins and withdraw them to Luno, is this the best way to go about this? Does anyone else have any suggestions about how to go about that in an easier way?

Doesn't necessarily have to be Ripple either, lets say I bought Litecoins, do I always need to convert them back to Bitcoin -> Luno -> My bank Account

Thanks!
 
tienlii said:
Hello All,

First post here.

- I've just bought my first small chunk of Bitcoins on Luno.
- Sent them to Kraken.
- Bought some Ripple coins.

Question: If I sold my Ripple coins for USD, then bought Bitcoins and withdraw them to Luno, is this the best way to go about this? Does anyone else have any suggestions about how to go about that in an easier way?

Doesn't necessarily have to be Ripple either, lets say I bought Litecoins, do I always need to convert them back to Bitcoin -> Luno -> My bank Account

Thanks!
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If Luno is your only SA exchange, then yes. Luno currently trade only in Bitcoin and ZAR so that's how your ZAR pops into and out of the crypto world. Bitcoin (XBT on Kraken) are the sort-of "US dollar" of the altcoin world, the most widely accepted currency for buying and selling other ccurrencies.
 
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Arthur said:
If Luno is your only SA exchange, then yes. Luno currently trade only in Bitcoin and ZAR so that's how your ZAR pops into and out of the crypto world. Bitcoin (XBT on Kraken) are the sort-of "US dollar" of the altcoin world, the most widely accepted currency for buying and selling other ccurrencies.
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What alternatives would you suggest to Luno?

I'd like to get involved mainly in Bitcoin/Litecoin/Ether/Ripple
 
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