The Bitcoin Thread

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saor said:
Because their deposits are fast (with FNB 5 - 10 minutes), their mobile app is really nice and they've got active staff on these forums dealing with queries and helping out.
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agreed, and their price is "usually" higher than other exchanges,
also it seems to dip a bit slower, giving you time to make a run if the price tanks.....
 
Mier said:
Jeez, 95k on Luno all of a sudden[/QUOTE

got the alert just now, was amazed,

100K before the end of the year im sure of it.
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R96,002 - might hit 100k before the end of the week. :crylaugh:

And yes I feel like a tit for not HODL'ing. But at least I bought back half of my SODL so I no longer care much which ever way it swings.
 
Voicy said:
eg2505 said:
R95,848 - might hit 100k before the end of the week. :crylaugh:

And yes I feel like a tit for not HODL'ing. But at least I bought back half of my SODL so I no longer care much which ever way it swings.
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me as well, SODL a lot a while back, and kept a bit, now almost recovered back what I lost moving the money around to nicehash.
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Voicy said:
R96,002 - might hit 100k before the end of the week. :crylaugh:

And yes I feel like a tit for not HODL'ing. But at least I bought back half of my SODL so I no longer care much which ever way it swings.
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You're not finding it cheaper to buy bitcoin from local exchanges nearer to you? Curious why you're buying in SA.
 
Voicy said:
R96,002 - might hit 100k before the end of the week. :crylaugh:

And yes I feel like a tit for not HODL'ing. But at least I bought back half of my SODL so I no longer care much which ever way it swings.
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R 96 455.

Voicy!
 
saor said:
You're not finding it cheaper to buy bitcoin from local exchanges nearer to you? Curious why you're buying in SA.
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Because right now my SA money is "play money".

I enquired with the state tax authority here and any funds I move across, despite it being for immigration, will be taxed at 45% as "additional income". That's over and above any commission or fees I'd have to pay if I transferred it out of SA with conventional authorities.

So I'm using my SA card for POS purchases since I'm in and out of the country quite often - so it's not an issue. (Also helps me to bank my salary straight to savings minus the essential debit orders)...and BTC is just to see what happens, it's just testing the waters so to speak. Im going back to SA soon anyway for a visit then I'll see what the plan is.
 
Voicy said:
Because right now my SA money is "play money".

I enquired with the state tax authority here and any funds I move across, despite it being for immigration, will be taxed at 45% as "additional income". That's over and above any commission or fees I'd have to pay if I transferred it out of SA with conventional authorities.

So I'm using my SA card for POS purchases since I'm in and out of the country quite often - so it's not an issue. (Also helps me to bank my salary straight to savings minus the essential debit orders)...and BTC is just to see what happens, it's just testing the waters so to speak. Im going back to SA soon anyway for a visit then I'll see what the plan is.
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if you playing with SA money, why not transfer using luno to your local currency?
I mean surely if SARS does not recognize BTC, golden opportunity for you to move that cash to your local currency at a better rate.

maybe not in one big swoop, but in bits and pieces every-time.
 
Voicy said:
I enquired with the state tax authority here and any funds I move across, despite it being for immigration, will be taxed at 45% as "additional income".
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Move funds across from where - Norway to SA? Surely you'd just send btc to SA and cash out here (if you bought and traded it in Norway). You'd make way more money like that - buying btc with a stronger currency and cashing it out in SA.
 
eg2505 said:
if you playing with SA money, why not transfer using luno to your local currency?
I mean surely if SARS does not recognize BTC, golden opportunity for you to move that cash to your local currency at a better rate.

maybe not in one big swoop, but in bits and pieces every-time.
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If I move any funds into my norwegian accounts from SA it gets picked up immediately (they have direct access to your bank balances etc here) and all tax returns are public so anyone can see how much their neighbour makes and pays in taxes.

So yeah, if I move SA savings to Norway I immediately lose 45% of it after transfer fees. So screw that. I'll just use it to play around on luno etc. Also used some of it to help my parents fix up their house etc.

So instead of "gambling" with my current income/savings, I instead just use ZAR and then when it tanks it doesn't really affect me. It also means that I'll just HODL the BTC indefinitely and then always have the option of transferring it to a norwegian exchange or my own wallet at some point.

saor said:
Move funds across from where - Norway to SA? Surely you'd just send btc to SA and cash out here (if you bought and traded it in Norway). You'd make way more money like that - buying btc with a stronger currency and cashing it out in SA.
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Got my perm residence approved a few months back, so trying to systematically clean out my SA account.
 
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I think we might hit R100k in the next 24 hours. Who will be selling at R100k?
 
so... don't get me wrong - been followng and owning bitcoin for years..

the thing is, does the low transaction rate not worry anyone? If I look at the current rate, its 309k the last 24hrs? I mean thats tiny, even small netork/bank in small country does more in a day? Just a bit confused how such a low transaction rate could generate this huge buzz?
 
adidas said:
so... don't get me wrong - been followng and owning bitcoin for years..

the thing is, does the low transaction rate not worry anyone? If I look at the current rate, its 309k the last 24hrs? I mean thats tiny, even small netork/bank in small country does more in a day? Just a bit confused how such a low transaction rate could generate this huge buzz?
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Wut?

616426cb498e3f051690643159ba1a63.jpg
 
adidas said:
so... don't get me wrong - been followng and owning bitcoin for years..

the thing is, does the low transaction rate not worry anyone? If I look at the current rate, its 309k the last 24hrs? I mean thats tiny, even small netork/bank in small country does more in a day? Just a bit confused how such a low transaction rate could generate this huge buzz?
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320k BTC moved out of market cap of 16 000k.
Exclude the lost, seized and stolen coins and that 16 000k comes down to say 10 000k.

So 3.2% liquidity. Guess everyone else is HODLing.
 
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