The Bitcoin Thread

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SaiyanZ said:
Yeah, I'm having a look at Bitfinex now. They're the largest exchange in The USA and the trading platform looks a lot more advanced. The main thing I'm concerned about is that margin trading might not be worth it on these international exchanges as they are probably filled with a huge number of advanced bots with whom you will be competing.
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Avoid margin trading like the plague. There is still no consistency on any exchanges and during high volatility that is bound to happen every other month in crypto world you will be punished down into the dumps like every other margin trader who got cleaned up so far during the last 2 days dump.

None of the exchanges seem to have figured out a reliable way to implement margin trading so that during "flash crashes" margin traders dont get soaked up beyond expectation.
 
John Tempus said:
Avoid margin trading like the plague. There is still no consistency on any exchanges and during high volatility that is bound to happen every other month in crypto world you will be punished down into the dumps like every other margin trader who got cleaned up so far during the last 2 days dump.

None of the exchanges seem to have figured out a reliable way to implement margin trading so that during "flash crashes" margin traders dont get soaked up beyond expectation.
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Maybe I called it the wrong thing. I look at supply and demand charts as well as track the major international exchanges. I just try to make a small amount on each trade, placing orders to buy only if the supply/demand is out of sync and the major exchanges are not dropping.
 
SaiyanZ said:
Yeah, I'm having a look at Bitfinex now. They're the largest exchange in The USA and the trading platform looks a lot more advanced. The main thing I'm concerned about is that margin trading might not be worth it on these international exchanges as they are probably filled with a huge number of advanced bots with whom you will be competing.
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At least they have things like margin trading, lol. Scary easy to lose everything margin trading, though.

Bitfinex is actually not US based - Taiwan based, but head office in Hong Kong and incorporated in the British Virgin Isles, I believe, if that makes any sense. Think they've tried to position themselves where neither Chinese and US regulators can cause too much interference, which can be good and bad, depending. My only concern with them is the USDT Tether issue - they created USDT and there is a lot of speculation that it's a sham to manipulate markets. If it blows up in their faces could leave anybody with assets on the exchange in the lurch. But IMHO the actual platform is one of the best and most functional.
 
SaiyanZ said:
Maybe I called it the wrong thing. I look at supply and demand charts as well as track the major international exchanges. I just try to make a small amount on each trade, placing orders to buy only if the supply/demand is out of sync and the major exchanges are not dropping.
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You are more likely then just doing market orders or limit orders.

Margin trading is a completely nother beast as you just realised.
 
SaiyanZ said:
Yeah, I'm still new to trading so I don't know all the lingo.
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Laymans terms, margin trading gives you greater buying power by allowing you to trade with more than you physically own. Say you put in 1BTC on a 40% margin, you are then able to trade 1 * (100/40 ) which is 2.5BTC. Once your position is closed, the loan as well as the lending fees are paid first and the remaining profit goes to you. If you close with an overall loss, it gets deducted from your margin account.
 
SaiyanZ said:
It took about 25 minutes for me yesterday. You probably won't be able to buy in at the current price as it is increasing again. Who knows where it will be in 25 minutes.
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Currently waited 1 hour now, and still not reflected.
 
Cicero said:
Coinbase buying and selling of BTC and LTC has been down for 10hrs. Hahaha
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Probably the main reason for the crash. I think most people just try to cash out and wait till the dust settles if major exchanges go down.

Luno delays are also probably why the price is swinging wildly on Luno. Not enough liquidity because of the delays as not many can place orders and if you do you can only alter it who knows when.
 
SaiyanZ said:
Did you sell or buy? Or did you cancel an order?
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Sold took about 65min to update my rand balance
Sell cancels took about 75min to refund my btc
Purchases, we'll see... nothing come through yet

Edit: still no update on purchases or cancelled buy orders

So, if you're looking to trade and make some monies, don't
 
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Can anyone confirm this - making a deposit and not registering it by adding it on Luno means it doesn't show up. I deposited my money without first adding it through the make deposit option on Luno. Waited 10 minutes and nothing. Suddenly realised I didn't add the deposit and do it. Money shows up immediately. I assume Luno only checks for funds if you've asked it too?
 
I bought Ethereum on Luno last week at R5001 and had R4901 in wallet after commision was deducted. So it climbed nicely during the week but on the weekend it hit a high of R8000, I sold at R7890 and made myself R2732.20 profit in one week, not bad Hey
 
Terrorsa said:
I bought Ethereum on Luno last week at R5001 and had R4901 in wallet after commision was deducted. So it climbed nicely during the week but on the weekend it hit a high of R8000, I sold at R7890 and made myself R2732.20 profit in one week, not bad Hey
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Haha nice, buy again now that its dropped. Rinse repeat.
 
Robfyntjie said:
Does anyone know if there is a altcointrader rep on here? When will they adjust their bitcoin cash withdrawal fee? At the moment sitting on.02 (which calculates to about R400 - R500 just to move your money into another wallet? ...)
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I just sold mine on ACT, and bought ethereum, I was not willing to pay that fee to withdraw
 
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