The Bitcoin Thread

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Weasley said:
i feel that eth is still cheap where btc seems a bit expensive. but that is just my opinion.
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ETH is now at the price that BTC was 2 years ago, so the way I see it is that it's still cheap enough to afford a coin or 3 just for lols to see what happens to it. I'm guessing BTC is going to increase steadily through the next while, but gone are the days of exponential gains. Whereas ETH has potential to climb to 2017 BTC levels.

Worst case, even if ETH doesn't climb, it's apparently widely used now so I'm hoping it'll be less volatile than the ZAR after the ANC conference.

September 1 BTC was going for 37k. Not cheap, but possible for people with a bit of savings. At 133k it's not just something the average person can jump in and get...if they want to be part of the 21M club that is. But people seem to be confused that to buy into BTC you don't need to buy a whole 1 BTC. (Even my gf thought Bitcoin was like krugerrand and you got a physical coin worth 1BTC)
 
weelzSA said:
Is it a good idea to purchase ETH through Luno or ICE3X as I seen it gone up already so want to purchase now.

Or should we rather stick to BTC?

For instance, if I had R40k to buy currency with, should I buy ETH (5 coins) or BTC (0.29 coin)?
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That's the million dollar question.
 
Also a lot of the reason why BCH and BTG are climbing is people not very familiar with cryptocurrencies hear about Bitcoin and buy the first thing they see assuming its Bictoin core and I think that's a contributing factor as to why the two forks are also climbing
 
Could someone please explain to me why if I set a sell order at R130k the order triggered at R131.7k?
 
The_Mowgs said:
Could someone please explain to me why if I set a sell order at R130k the order triggered at R131.7k?
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Ouch! You can only set a sell order for higher than what BTC is currently trading at, otherwise you are in for a big loss plus 1% fees. What you are looking for is a stop order, but Luno does not offer this unfortunately.
 
Sensorei said:
Ouch! You can only set a sell order for higher than what BTC is currently trading at, otherwise you are in for a big loss plus 1% fees. What you are looking for is a stop order, but Luno does not offer this unfortunately.
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He came off better anyway because 1% fees are about R1300 and he sold for R131.7k instead of R130k.
 
Sensorei said:
Ouch! You can only set a sell order for higher than what BTC is currently trading at, otherwise you are in for a big loss plus 1% fees. What you are looking for is a stop order, but Luno does not offer this unfortunately.
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Thanks, I understand it now. I thought it was a stop order.


If I put a order in to buy? How does that work?
 
weelzSA said:
Is it a good idea to purchase ETH through Luno or ICE3X as I seen it gone up already so want to purchase now.

Or should we rather stick to BTC?

For instance, if I had R40k to buy currency with, should I buy ETH (5 coins) or BTC (0.29 coin)?
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Thor would be able to give you some good advice on this split. He's diversified between coins a bit and has been here a long time to see what happens to it.

But yes, if we all knew, we'd all be into crypto trading and making gainz.

10 days ago 5 ETH coins would cost you R21k. It's growing slower in value than BTC did, but higher in %. (e.g. R4.5k jump would be 100% for ETH but only 3.3% for BTC.)

You could for example do:

0.1 BTC = R13k
4 ETH = R25,5k

Total: R38,5k

or

0.2 BTC & 2 ETH = R 38,8k

Or yeah, all in BTC or ETH. Whichever.

EDIT: And just like that, in the time it took me to type this reply BTC dipped from R131k to R128k.
 
The_Mowgs said:
Could someone please explain to me why if I set a sell order at R130k the order triggered at R131.7k?
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Limit orders themselves don't guarantee to close at the set price, stop-limit orders do this, something that isn't available on our exchange.
Limit orders for sells will never close before the set price, only higher while buy orders will only execute a the set price or lower.
 
SaiyanZ said:
He came off better anyway because 1% fees are about R1300 and he sold for R131.7k instead of R130k.
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No, he had to pay 1% fees. That's how Luno works. He sold for R130K. Any order that goes off instantly nails you 1%.
 
Sensorei said:
No, he had to pay 1% fees. That's how Luno works. He sold for R130K. Any order that goes off instantly nails you 1%.
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Depends on how the order was setup, if it was setup when the sell price was less than his order it would be a market maker order and execute at 0%.

Only taker orders are charged a fee, 1% if you trade the minimum volume, less if you trade more.
 
Sensorei said:
No, he had to pay 1% fees. That's how Luno works. He sold for R130K. Any order that goes off instantly nails you 1%.
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Does it really? I thought that if there were buy orders at R131.7k and you put in a price to sell below that, then you will instant sell at R131.7k.

Edit: That's how it works for buying. Just in the opposite way. If there are orders on the exchange to sell at R10, R11, R12 and I put in a buy order at R11, then I will buy at R10 instead of R11 (as long as there is enough volume at R10 to fulfill my request)
 
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SaiyanZ said:
Does it really? I thought that if there were buy orders at R131.7k and you put in a price to sell below that, then you will instant sell at R131.7k.
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If the current price is R131,700 and you put in a sell order for lower, say R131,500, you get R131,500/BTC and pay 1% fees (unless you're trading 10+ BTC/month). If you put a sell order in for higher than the current price, so that it goes off later you pay 0% fees (maker).
 
Sensorei said:
If the current price is R131,700 and you put in a sell order for lower, say R131,500, you get R131,500/BTC and pay 1% fees (unless you're trading 10+ BTC/month). If you put a sell order in for higher than the current price, so that it goes off later you pay 0% fees (maker).
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Yeah, that's why I said he is better off because he sold for R1700 more than he wanted to. So even with the 1% fee he is better off than selling at R130k.
 
SaiyanZ said:
Yeah, that's why I said he is better off because he sold for R1700 more than he wanted to. So even with the 1% fee he is better off than selling at R130k.
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As far as I understand it, if an asterix (*) shows next to the value of your buy/sell order on the order book, & the order is filled, then you are a maker, & no fees are charged. Sometimes the price changes quickly, while your order is being processed (and no asterix will appear)
 
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