Bitcoin rockets through R150,000

TheBossMan said:
Yes it does. Just wish more South African retailers could support Bitcoin. I bought some stuff from Raru with Bitcoin and was successful.
Click to expand...
If you don't mind,may you please explain me how it works ?
 
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
 
Adrianax said:
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
Click to expand...

if you cant find buyers for your 10m in bitcoin, i will happily take it off your hands for free :D
 
Adrianax said:
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
Click to expand...

Heh, 50%, first I'm hearing of it... anyway, instead of selling/buying to/from random people on the internet, maybe just use a legitimate exchange /shrug
 
Adrianax said:
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
Click to expand...

I think you under-estimate the volumes. Selling R10m+ would be real easy on Luno.
 
Adrianax said:
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
Click to expand...

Use an exchange like the rest of us.
 
Adrianax said:
Here is my problem with Bitcoin. It is easy buying it. It is relatively easy spending it with some retailers and some courier related services in South Africa. But, the companies currently accepting it is extremely limited. However, my biggest problem is owning R10m+ in BC and finding it extremely difficult to sell it off to individuals both locally and abroad. There are not as many buyers as people may think. In addition, almost 50% of willing buyers end up in some form of scam - be it Paypal payments, EFT payments or other online services cashing in BC.
Click to expand...

Last time I battled to sell R10Mil of Bitcoin, the fresh coffee smell woke we up.
 
I stopped thinking about whether Bitcoin will be around in the long term a few weeks ago. I just asked myself, can I make money from it now? The answer was yes so I got in and will continue to make money off it for as long as I can.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X