The Bitcoin Thread

[petum]

Apparently you can change them under settings/transaction fees

My apologies indeed you can.

Please advise what to set it to. Slightly above my pay grade..

 

[John Tempus]

When in doubt look at this site to get an idea of fee needed for confirmation speed.

https://estimatefee.com

 

[Noock]

My apologies indeed you can.

Please advise what to set it to. Slightly above my pay grade..

Luno right now is estimating 0.0029, so you could use that.

Or use the website provided above.

That will be the fee for the whole transaction though, I think you'll need around 1000 sat/byte for the fee to go through fairly quickly

 

[IT_Steven]

I wonder how many Bitcoin noobs invested their end of year bonus and got burned by the big dip? Hopefully not many.

I think a lot of people would have gotten burnt with this drop. Depending on the size of the loss, most will walk away and never touch crypto again. Also, I think a lot of people won't mention it because of embarrasment/panic selling.

 

[Noock]

I think a lot of people would have gotten burnt with this drop. Depending on the size of the loss, most will walk away and never touch crypto again. Also, I think a lot of people won't mention it because of embarrasment/panic selling.

For sure...
This week tested my stomach for risk!

 

[Noock]

For sure...
This week tested my stomach for risk!

Or I should rather say extreme volatility with large amounts of money

 

[IT_Steven]

Or I should rather say extreme volatility with large amounts of money

If you rode it out - well done. Consider this your first Bitcoin stripe earned.

Still not sure what the price will do in the shorter term - longer term will be up!

 

[Noock]

If you rode it out - well done. Consider this your first Bitcoin stripe earned.

Thanks, but it's not the first dip I've ridden through. I've been in bitcoin for around 3yrs now, although only seriously since late last year.

Its just that due to the price appreciation, now a high percentage of my net worth is in crypto and a 40% dip now is significantly more money to stomach.

 

[IT_Steven]

Thanks, but it's not the first dip I've ridden through. I've been in bitcoin for around 3yrs now, although only seriously since late last year.

Ditto - bought my first bitcoin for about 2k (sigh)
Well... riding through a dip/crash with low exposure doesn't really count.

 

[Noock]

Ditto - bought my first bitcoin for about 2k (sigh)
Well... riding through a dip with low exposure doesn't really count.

Agreed. The mental game when you've got more money involved in huge... Something I'm constantly working on.

Anyway onwards and upwards, more peaks and more troughs to come!

 

[IT_Steven]

Agreed. The mental game when you've got more money involved in huge... Something I'm constantly working on.

Anyway onwards and upwards, more peaks and more troughs to come!

Too true. Thing is every time they have to up the ante to try and instill fear into the old hardened hodlers to sell. So we can expect some interesting times ahead.

 

[John Tempus]

Lots of newcomers were told one way or another to focus on crypto performance long term but still these newcomers expect fast short term gains day after day ignoring advice from long time crypto traders/hodlers/etc.

And the result is the last 2-3days. You need to look at crypto performance atleast over a period of 2 to 4 weeks to get any idea of the real market direction.

If you are new to crypto be honest with yourself if you are interested in looking at it as a longterm investment meaning 1 year+ or if you expect to make massive gains in under a month. If you get involved and looking at massive gains in under a month then expect to get crushed due to your greed even though you will continously tell yourself you panic sold cause crypto is a scam and you dont want to be involved anymore.

 

[John Tempus]

If you rode it out - well done. Consider this your first Bitcoin stripe earned.

Still not sure what the price will do in the shorter term - longer term will be up!

We just got rid of massive weak hands. Expect a push for new ATH between now and end of January. Gotta love the media articles popping up during the corrections as if they are all too stupid to realise it happens like this after every massive runup in a short period of time. The current runup was just the biggest in $ term we have ever seen in the shortest amount of time so the sudden correction looked in $ term bigger than it actually is in % term. Looked pretty normal to me, still hurts briefly though.

 

[IT_Steven]

Back to the foxholes

 

[SaiyanZ]

Luno is ****ing down whilst the price is bouncing around.

 

[Gtx Gaming]

Somebody go plug back the network cable at the luno offices lol

 

[Upward]

Somebody please do already.....

 

[Mier]

Luno Android app working fine

 

[JerryMungo]

We just got rid of massive weak hands. Expect a push for new ATH between now and end of January. Gotta love the media articles popping up during the corrections as if they are all too stupid to realise it happens like this after every massive runup in a short period of time. The current runup was just the biggest in $ term we have ever seen in the shortest amount of time so the sudden correction looked in $ term bigger than it actually is in % term. Looked pretty normal to me, still hurts briefly though.

Don't underestimate the greed on the part of the media journos. They have an interest too otherwise they wouldn't be in the business writing about it.

 

[John Tempus]

Don't underestimate the greed on the part of the media journos. They have an interest too otherwise they wouldn't be in the business writing about it.

Well like with any other news the crypto development headlines will give them glorious clickbait every other week. Media have a cashcow without even having to invest anything into crypto, not bad at all.