The Bitcoin Thread

[Lunomoney]

Where is a good place to trade ether? altcointrader?

Also, how do you send btc from luno to another exchange?

I currently use cryptowat.ch to check luno's bitcoin prices because they vary from coinigy. It's too bad that coinigy don't have luno on, because I really prefer their UI. Wonder if they will port in the data from luno in future?

I really like luno's user expierience so far, its just the exchange's chart is not that great - can't zoom in and out interactively and can't draw on it like you can on coinigy...

You simply need a receivers address on the exchange you want to send to and use the Send button on LUno to send Bitcoin to another exchange.

 

[balky]

Does anyone know the exact time of the bitcoin gold fork on 25 October? Will it be dangerous to trade after the fork? i.e. if I buy soon after the fork what are the risks of replay attacks? Also, when is the segwit 2x fork happening? Early November from what I understand, but do we have a more exact date yet? Thanks guys

By the way I love this thread, have been lurking for a while

It will be tomorrow (24th) at around 6am SA time. That is assuming that the average block time is 10 minutes. The fork happens at block 491407. You can see the current block number at this site: https://blockchain.info/

 

[saor]

Where to next? It's either the best time to buy or the worst time to buy. Sentiment seems to be that it's going down after it moves sideways for a bit.

 

[Dimpie (JIGSAW)]

^ BTC will always go up, so there is never a bad time to buy ... HODL is the answer

 

[iFan]

Where to next? It's either the best time to buy or the worst time to buy. Sentiment seems to be that it's going down after it moves sideways for a bit.

View attachment 471974

Yeah...now it never dropped as far as I thought it would, but I am wondering if I need to buy before the fork...

What to do What to do

 

[iFan]

It will be tomorrow (24th) at around 6am SA time. That is assuming that the average block time is 10 minutes. The fork happens at block 491407. You can see the current block number at this site: https://blockchain.info/

Yup, looks like it has shifted up: https://btcgpu.org/faq/ (countdown previously posted by someone)

 

[saor]

^ BTC will always go up, so there is never a bad time to buy ... HODL is the answer

I just want it to buy altcoins .

Yeah...now it never dropped as far as I thought it would, but I am wondering if I need to buy before the fork...

What to do What to do

Don't let the fork coerce you into buying btc at a price you wouldn't usually.

 

[saor]

Meh - think I'm gonna buy at around $5700'ish if it goes there and doesn't drop further.
(I'm not buying to hold btc)

 

[Sensorei]

So Luno states that they will not support the Bitcoin Gold fork.

But on the Bitcoin Gold website (https://btcgpu.org/faq/) see how they answer this question:

"If I have BTC on an exchange at the time of the fork, will I get my free BTG?"

When the Bitcoin Gold fork occurs on October 25, any exchange that is holding BTC on your behalf will also receive the corresponding BTG. While they should credit your account with the equal amount of BTG, there is no legal authority that can force them to do so. The Bitcoin Gold home page will display the names and logos of exchanges that have promised to credit their users with BTG at the 1:1 ratio. If your exchange is not shown, please consider transferring your BTC to a supporting exchange or withdraw to a personal wallet where you control the private keys.

So according that to answer, Luno will be receiving free Bitcoin Gold for all the BTC currently held on their exchange. But they will not be crediting us, they'll get to keep it for themselves? That is how it sounds. It must be a huge undertaking to support BTG on the exchange so I'm not saying Luno is out to screw anyone. But what's the story?

 

[saor]

So according that to answer, Luno will be receiving free Bitcoin Gold for all the BTC currently held on their exchange. But they will not be crediting us, they'll be keeping it for themselves? That is how it sounds. Correct me if I am wrong?

I'm guessing a reason for many exchanges (not just luno) not offering bitcoin gold is they need to make changes to their platform to integrate the new currency & allow users to access it. That's a bit more work than just clicking a few buttons.

I don't think an exchange is obliged to implement forked cryptos.
Whether they're obliged to tell you they're still getting it...I dunno.

 

[Hempiz]

They will wait to see if it's worth anything reasonable (something like an avg price 5 or 10% of BTC for a fixed period of a week or 2). They did the same for BitcoinCash. Whoever had BTC at the fork got their BitcoinCash

 

[saor]

Anyone sending bitcoin recently confirm what confirmation times are like?
A bit hesitant to send between wallets right now.

 

[Sensorei]

Anyone sending bitcoin recently confirm what confirmation times are like?
A bit hesitant to send between wallets right now.

Well if you don't send it now and leave it on Luno, you will not be getting BTG. So which risk is the one to take?

 

[saor]

Well if you don't send it now and leave it on Luno, you will not be getting BTG. So which risk is the one to take?

I don't care about btcgold. I want it for trading alts on anther exchange. Have a feeling confirmation times are long right now.

 

[Hempiz]

Do you guys think BTG will be worth anything? Doubt it'll be more than $120.

 

[Sensorei]

Anybody transferred to mycelium or exodus in the last few hours? How long did it take?

 

[balky]

Anyone sending bitcoin recently confirm what confirmation times are like?
A bit hesitant to send between wallets right now.

The mempool size is not currently that big. http://bitcointicker.co/networkstats/
But I can't guarantee that there won't be delays. If you can set the fee, you could make it a bit higher than usual to make sure that a miner grabs your transaction.

 

[Sensorei]

They will wait to see if it's worth anything reasonable (something like an avg price 5 or 10% of BTC for a fixed period of a week or 2). They did the same for BitcoinCash. Whoever had BTC at the fork got their BitcoinCash

Poloniex did not support the Bitcoin Cash fork 1 August, but still paid out a couple of weeks later since they were credited 1:1 BCC for the BTC on their exchange. I hope it will be a similar case with BTG and Luno.

 

[Lunomoney]

Morning all,

Please take a read through two blog posts regarding Bitcoin Gold specifically, and our overall view our Bitcoin forks.
Bitcoin Gold has officially forked as of block 491407 has been mined.

https://www.luno.com/blog/en/post/bitcoin-gold
https://www.luno.com/blog/en/post/luno-bitcoin-forks

I'm also quoting the important bits below for a quick overview.

Why won’t you support [insert new fork name here]?

Since we’re getting inundated with queries about many proposed Bitcoin forks, we’d first like to repeat that our number one priority is keeping our customers’ money —local and digital currency— safe. Many forks come with various security risks, which could result in the loss of funds.

Secondly, we have a vision (and a responsibility) to make it safe and easy to buy, sell and learn about Bitcoin. Most of these Bitcoin fork proposals don’t add significant value to the ecosystem and generally just adds complexity and confusion to the market. The opposite of easy.

These are distractions that unnecessarily complicate the industry and divert limited resources, such as:

Engineering resources needed to add the ability to buy, sell, send, receive and store the new tokens
Internal processes in storing and securing the tokens in hot and cold wallets etc.
Design resources, adding more complexity to products
Community support resources needed in helping customers use, understand and fix issues related to each new token
Lastly, there are thousands of alternatives to Bitcoin, known as altcoins. Many of the proposed Bitcoin forks ultimately create just another altcoin with low or no value. Customers who want access to any of those new altcoin chains should move their Bitcoin to a compatible platform. We can’t make any recommendations for these third-party platforms, but please do your research about the security of the new chain and stay clear from fraudsters.

Note that you don’t “double your money” during a fork. Just because you have some newly forked tokens, doesn’t necessarily mean that they will have any value, now or in the future.

Fork policy

If a new fork is announced, we will observe its market adoption and provide a level of support accordingly.

For example, in the case of Bitcoin Cash (BCH), there was significant interest from the community. It was listed on multiple reputable exchanges, and the price traded above 0.1 BTC for months. We, therefore, provided the ability to withdraw or sell BCH.

However, if there is a fork that isn’t embraced by a significant subset of the community, and is not listed by reputable exchanges, we won’t provide support for it. Our goal is always to ensure that customers don’t lose value associated with their funds.

 

[Nicky_G]

Help please. I transfered my Bitcoin from Mycelium to Luno. Bitcoin that I had pre-BCH fork. I should have BCH wallet as well now in Luno. Am I wrong? How do I claim my BCH? Help please