The Bitcoin Thread

Status
Not open for further replies.
Knyro said:
Exactly. You're beating the market by R40k with only R229 549 in capital, a 17% return in a month. That's incredible. Who cares about fees when you're killing it like that.
Click to expand...

It's not incredible in bitcoin land. It's pretty much expected if you are careful. My first few weeks of trading I barely broke even due to taking too many risks. Maker fees would have nailed me on all the big exchanges.

No maker fees is a major security blanket for amateurs. If you need to buy back in at the price you sold it is free. With 0.1% fees buying back in with 1 BTC at R230K will cost you R460. I've got the hang of it now, but I'd rather have the R50,000 than the R40,000 (hypothetically of course).
 
Last edited:
You also have to consider that with the maker fee you wont have Bots eating up the volume taking small 0.2% margins. So you might make R60k instead of R50k.
 
Sensorei said:
It's not incredible in bitcoin land. It's pretty much expected if you are careful. My first few weeks of trading I barely broke even due to taking too many risks. Maker fees would have nailed me on all the big exchanges.

No maker fees is a major security blanket for amateurs. If you need to buy back in at the price you sold it is free. With 0.1% fees buying back in with 1 BTC at R230K will cost you R460. I've got the hang of it now, but I'd rather have the R50,000 than the R40,000 (hypothetically of course).
Click to expand...

What? Unless you're trading like an idiot that's your return above market. You're still riding the overall bitcoin curve, while taking advantage of quick fluctuations. That R40k is in addition to the appreciation of bitcoin itself.

You trade to accumulate more bitcoin, not fiat.
 
Knyro said:
What? Unless you're trading like an idiot that's your return above market. You're still riding the overall bitcoin curve, while taking advantage of quick fluctuations. That R40k is in addition to the appreciation of bitcoin itself.

You trade to accumulate more bitcoin, not fiat.
Click to expand...

Maybe you, I (and many others) trade to make $ for weekends.
 
WAZAR said:
Maybe you, I (and many others) trade to make $ for weekends.
Click to expand...

Then you're short-changing yourself. Even holders have a good chance of blowing past you profit-wise if you spend most of your time in fiat.
 
Knyro said:
Then you're short-changing yourself. Even holders have a good chance of blowing past you profit-wise if you spend most of your time in fiat.
Click to expand...

All about risk, and I don't care about the trend always being upwards, the day something happens I'll be happy I still made $$$. Can't control how much I make, but I can control how exposed I am to its volatility.
 
Woke up to various bitcoin alarms I set , bought some , lots of panic in all cryptos
 
schumi said:
Woke up to various bitcoin alarms I set , bought some , lots of panic in all cryptos
Click to expand...

Yeah woke up and it's now down to R210k on Luno. $13k on a couple of the international exchanges and dropping.

Just hit R190K... it's a MASSIVE dive!
 
Last edited:
schumi said:
Woke up to various bitcoin alarms I set , bought some , lots of panic in all cryptos
Click to expand...

I bought some yesterday at R235k before it went down and came back up. Decided to hold then and it's too late to sell now so I'm going to miss out on this massive rebound. :o
 
Bought some at 230k yesterday, gonna buy some more today, let’s see how low it goes...
 
expect a day of volatility on LUNO today.

Saw that massive drop to R187 000 and back up to R210 000 in 60seconds. Already back to R224 000.

HODL for life, I aint looking at markets again today.
 
Captains log: Sunday, crack of sparrow fart am

Woke up, turned on kettle, luno peeps loosing their ****ing minds, made several k before kettle finished boiling, made coffee, scratched head, saw nothing much happening other than poloniex candles broken, shrugged




Edit: See candles have just been fixed, maybe the panic sellers will stop?
 
Last edited:
Temujin said:
Captains log: Sunday, crack of sparrow fart am

Woke up, turned on kettle, luno peeps loosing their ****ing minds, made several k before kettle finished boiling, made coffee, scratched head, saw nothing much happening other than poloniex candles broken, shrugged




Edit: See candles have just been fixed, maybe the panic sellers will stop?
Click to expand...

Yeah, I didn't expect it to drop below R220k overnight. So I held at R235k. Could have made a huge amount in hindsight if I sold at at around R233k so that I had cash to buy in when the major drop below R200k happened.

Ah well, I've made so much already from trading in the last few days that it doesn't hurt too much.
 
SaiyanZ said:
Yeah, I didn't expect it to drop below R220k overnight. So I held at R235k. Could have made a huge amount in hindsight if I sold at at around R233k so that I had cash to buy in when the major drop below R200k happened.

Ah well, I've made so much already from trading in the last few days that it doesn't hurt too much.
Click to expand...

Yeah, been looking around, I think it was just the broken poloniex feed causing the luno dump, big red line ticking down every few seconds... nothing else happening on other exchanges(a small dip yes, probably caused by the same, but nothing like luno sell off, that was insane), I guess saffers woke up, saw it and dumped without looking at time/last prices etc, all seems to have calmed and back to normal now


Edit: I'm actually thinking maybe I should put together a web app or something showing some of the big exchanges vs luno so the noobs don't panic sell so much, just a quick reference feed 'luno is dumping but nothing is happening anywhere else, no need to panic' thing /shrug
 
Last edited:
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X