The Bitcoin Thread

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handyman007 said:
Lots of people giving Luno free money buy buying and selling with 1% fees. WHY?
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They won't be around for long unless BTC keeps going up so they make something at least. These instant buyers/sellers need a R5400 movement at current prices and 1% fees just to break even. Pure gambling at this point to buy and wait for a R5400 increase to break even. The difference between the low and high from yesterday morning to this morning was less than R5k too.
 
handyman007 said:
Lots of people giving Luno free money buy buying and selling with 1% fees. WHY?
Click to expand...
Necessary evil. Someone has to be a taker to complete an order. If everyone doesn't, movement will stall.

Also the premium factors in. If the price to sell is higher than 1% elsewhere, miners will be happy to pay a fee and receive more cash.

Arbitrage plays a role too.

That said, however not everyone pays 1%. Based on volume your fees could be less.
 
Hi guys,
I was just wondering how long it takes to get upgraded to level 2 after submitting ID. I have submitted this weeks ago but a friend who signed up this week got his approved the same day.
 
R300k!
2cys4ee.png
 
I think that will depend on whether 'they' remove the wall like they did at R250k. I wouldn't - rather have it yo-yo a bit and trade off that.
 
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