The Bitcoin Thread

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F1 Fan said:
Asking again, does anyone have a Bitfenix invite for me please?

Im trying to get into Alt coins, but altcointrader has been sitting on my verification for over a week. Coinbase doesnt sell to SA and CEX is pretty much useless (verification and support). No feedback from Coinmama either.
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why do you need an invite?
 
Regarding arbitrage, buying BTC on other exchanges and selling on Luno. I think we have a R1mill limit per calendar year of cash that we cash transfer offshore. Otherwise we need to get a tax clearance certificate. That's not much BTC and people have probably hit their limits this year. So I think we should see much more arbitrage being done in January which will drive down the Luno price.
 
I read that the South Korean exchange has been hacked and its filing for bankruptcy. This scares the hell out of me. What would happen if the same happened to Luno, would I lose my Bitcoin?
 
rza said:
I read that the South Korean exchange has been hacked and its filing for bankruptcy. This scares the hell out of me. What would happen if the same happened to Luno, would I lose my Bitcoin?
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Yes. Don't store you stuff on the exchange.
 
rza said:
I read that the South Korean exchange has been hacked and its filing for bankruptcy. This scares the hell out of me. What would happen if the same happened to Luno, would I lose my Bitcoin?
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Depends on the extend of the hack.

Luno actively sweeps the coins from the clients hot wallets into cold storage - which has all manners of physical security layers to gain access to - so it would have to be some major inside job/hack if it were to be pulled off imho

That being said : https://www.youtube.com/watch?v=dnC5mFaIW3Q
 
Slootvreter said:
How can you be so sure?
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Cos its a dead project **** coin just being pumped and promoted by a ****;)

Just my opinion, but when first forked I was okay with it, just hodled, never looked into it really, had the idea of if it becomes something then great, if not, no loss... but, well, btc is thousands of people doing dev and such, just nobodies permanently working on it... bch however is 4 people, all excons convicted of fraud etc. Their is no development on it, since fork, its basically a dead project, just constantly being pumped by the 4 criminals. The main 'promoter' being Roger Ver, his only goal is to get the btc name. Thats it, their entire purpose, own the btc name. Nothing else, not creating something unique, advancing, pushing forward, he just wants the btc name. Oh, and these 4 own more than 51% hashing power, meaning at anytime they like, these 4 ****ers can 51attack and cash out... and given they are known and convicted fraudsters, I choose to stay the **** away. Put it this way, if bch ever becomes bitcoin, I cash out and I'm done.
 
rza said:
I read that the South Korean exchange has been hacked and its filing for bankruptcy. This scares the hell out of me. What would happen if the same happened to Luno, would I lose my Bitcoin?
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Try cold storage
 
I assume that if an exchange is hacked, it's the crypto from the exchanges wallet that gets stolen and not your cash balance?
 
IT_Steven said:
Depends on the extend of the hack.

Luno actively sweeps the coins from the clients hot wallets into cold storage - which has all manners of physical security layers to gain access to - so it would have to be some major inside job/hack if it were to be pulled off imho

That being said : https://www.youtube.com/watch?v=dnC5mFaIW3Q
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Damn, so Luno can just disappear with the Bitcoin then?!
 
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