The Bitcoin Thread

Status
Not open for further replies.
flip broke through 200k. it seems to be on luno only, in bitcoinprice org flailing about at $15444. Doesn't seem to be crashing like here.

also ethholding up okay though
 
Luno price is now below coinmarketcap's bitcoin price and 5k above that of whattomine.com (in Rand terms).
 
The Philosopher said:
now is time to by, when there is blood on the streets. I have been buy @230, @218 and @205, I now dont have more to put in :(
Click to expand...

I bought at R262k this morning and have been watching the drop all day. :o Thought I could do some trading as there were not many sellers above me to R270k and the USD charts seemed stable. Then it just kept creeping downwards and the sell orders kept piling up.
 
Im also wondering why luno is dropping so much. I think mainly because there has been so much bitcoin hype in SA, and so many new people who just joined and freaked out at the drop are selling in droves now.

Luno exchange has gone from trading at 30% above US dollar exchange rate today to only about 5% above. The lowest premium above USD I have ever seen. Its normally between 10-20%

Thats panic selling and pullback from stretched prices - double whammy
 
Gory51 said:
Im also wondering why luno is dropping so much. I think mainly because there has been so much bitcoin hype in SA, and so many new people who just joined and freaked out at the drop are selling in droves now.

Luno exchange has gone from trading at 30% above US dollar exchange rate today to only about 5% above. The lowest premium above USD I have ever seen. Its normally between 10-20%

Thats panic selling and pullback from stretched prices - double whammy
Click to expand...

The rebounds on Luno are also being cut short each time by people placing big sell orders and leaving them there. So each time there is a drop we have been losing more ground compared to USD drops.

Earlier today Luno, in the last 24 hours, was down around 10% and Bitfinex 5%. Now Luno is down 20% and Bitfinex 7%.

These slow drops over several hours are the worst as it takes longer to rebound back to previous levels. Mainly because people have time to load up the order book with sell orders. In a small market like we have on Luno it makes it quite difficult to regain ground.
 
Last edited:
Cicero said:
Damn, wanna close everything crypto related, bury my head and not watch anything until its all over.
Click to expand...
Cryptos too volatile for your risk profile?

Don't take it personally, that comment is meant for every crypto "investor" freaking the fsck out atm.
 
SaiyanZ said:
The rebounds on Luno are also being cut short each time by people placing big sell orders and leaving them there. So each time there is a drop we have been losing more ground compared to USD drops.

Earlier today Luno, in the last 24 hours, was down around 10% and Bitfinex 5%. Now Luno is down 20% and Bitfinex 7%.
Click to expand...

I'm hoping though that once the USD prices starts an upward trend there will be panic buying from FOMO again. We should overshoot the 25% premium again. All speculation and Hope. Rebellions are built on that ****......apparently. :P
 
People - we were at 15000 just 2 weeks ago...
Also there was a ridiculous pump from 12 to 17 which had to come back somewhere down the line
 
Last month BTC dropped from about $7500 down to to $5,700 in a day. Percentage wise a very similar scenario. It bounced back after 3 to 4 days with a new all time high.

The harder BTC falls the higher it bounces.
 
F1 Fan said:
But like how do you claim it? How do those keys get allocated to you?

Have searched and read different stories...
Click to expand...
If you own bitcoin at the time of any fork, you already have the private key of your public key on the new forked blockchain because its exactly the same key. What happens is a duplicate of the blockchain is created; an exact replica. The only difference is the blocks after the fork will have different characteristics. Your private key is still the only one which can unlock your public key

If you understand this concept, you will know that even if every two weeks a hard fork occurs, your two year-old private key will still work if you held bitcoin at the time of the initial fork, so you can claim all the coins that were forked since the initial fork, provided you DID own bitcoin at the time.

How do you claim, that's up to the owners of the new coin, they'll usually create an app or some exchanges will start supporting this new coin.

Be VERY, VERY careful!!! Your private key can unlock all previous iterations of its corresponding public key on any previous iterations where said public key was used.

In other words, if you import your private key to www.comeclaimfortehlulz.com, they can then go back and scan all other blockchains (your coin's fat's grandfather's great-greatgrandfather, etc)...Example, if someone gets hold of your bitcoin cash key, he can not only steal your bitcoin cash, but also your bitcoin core.
 
YingYang said:
Think of it this way: does ABSA get any commission if, while standing in the teller queue to deposit some money into someone's account, you decide "this queue is too long" and walk out
Click to expand...

Thanks, cancelled the transfer
 
Luno hit the dollar value

951db378433d6ef80ea9f94cea05cc59.jpg
 
192k.



.. a few days back that was a sign of a bull run, now it's a sign that it past 25% loss on day..
 
AzureDragonZ said:
Okay as I don't need it right now I'll leave it but just seeing this continuous drop since Monday along with all these recent talks about bubbles then I'll rather spend it on something than lose it. When for you expect it to jump up again?
Click to expand...

Welcome to the game. I panic sold twice and always lost out when it recovered again. You only lose money if you cash out. Otherwise sit tight and enjoy the ride. Most sellers now are probably panicking in their first dip. Good time to buy now if you have DISPOSABLE income. Don't gamble your kid's college fund.

IT_Steven said:
People - we were at 15000 just 2 weeks ago...
Also there was a ridiculous pump from 12 to 17 which had to come back somewhere down the line
Click to expand...

This is why I'm not stressing. I take weekly screenshots to remind me of how far it's come each week. We were losing our minds last month when it breached R100k. So we're fine :)

I'm waiting for it to climb to a certain point where I can cash out my initial buy in value and then lock the rest away as pure profit until 2020. Whether it be R1m or R1.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X