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BitcoinZAR last won the day on February 22 2021

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  1. Hey guys, hope you are all well and have been surviving COVID. It has been a long time since this thread started, so I thought I would check in.... Today the price is reaching new all time highs again for 2021, currently at $69k for the day. This time last year the price was $16747, so there has been a significant increase in price. Along the way there has been some dips in price too, but overall, the trend is still up. This is the time of the year that we have all bee waiting for since the last halving. In previous bull runs there has been a lot of mania before the blow off top and the crash that follows. So far there is not nearly as much madness and craziness in the market as there was in previous bull runs. This makes me think that there is still more upside to go.... The main question that people are wanting to know is if bitcoin will reach the fabled $100k price this year, end of November / early December.... There are more and more well known people and companies (Tim Cook, Elon Musk, Jack Dorsey, Michael Saylor etc), getting involved in bitcoin, which is great, but the real FOMO madness has not started yet. I suspect that if bitcoin breaks $100k, then things are going to get absolutely mental. Every news platform will be broadcasting it, and we will get a ton of new people who want to get rich quick flooding into the market. Have any of you guys dared to get some exposure to bitcoin? The stock to flow model still seems to be holding for now, and if things happen similar to how they have before, the price will overshoot the $100k mark, before a correction. Nothing is certain....but it sure looks like things are going in that direction. The S2F model predicts $100K AVERAGE for this halving period (and based on floor model we reach $100K this yr). S2FX model predicts $288K AVERAGE this cycle. The price needs to get a lot higher to have that high price as an average, so lets see how far it goes. Locally we have for the first time reached a high of R1million per 1BTC in South Africa on 2 November already. This basically means that bitcoin has reached parity with the Rand. There are 100 million satoshis in a bitcoin, and 100 million cents in R1million rand. So lets see how crazy the next few months get, and if the price keeps going up into the new year, or if we peak sooner. Good luck!
  2. Today the bitcoin market cap breached $1 Trillion at a price of just over $54k. This has been a fun ride so far, with plenty more drama to come I am sure....with just under 350% increase in $ value over the last 6 months. There seems to be growing FOMO in the air, and more institutional buyers are coming onto the scene. The retail market of us normal guys is getting flooded by big guys with deep pockets. Grayscale Bitcoin Trust bought 150% more bitcoin in January than was even produced by miners, and billion dollar purchases by Tesla, Microstrategy etc. is draining the market of bitcoin fast. For now, the trend is still up up up....and we are more than 10X increase in value since this thread started. Happy days!
  3. BitcoinZAR


    Never heard of it. For a high frequency trading bot I have setup Hummingbot which is created by traders for traders, and is open source and created with python. You can run it on your PC, or what I did was setup an instance on Amazon that can stay on 24/7 and trade. Hummingbot can connect via API to all the big exchanges, and I also have it setup to connect to ice3 locally. You can do Pure Market Making, Cross Exchange Market Making, Arbitrage etc. all the usual stuff. There is a bunch of great youtube videos by the guys who made it where they show you how to use its features. Check it out here: https://hummingbot.io/
  4. Checking in again...the last 6 months have seen the bitcoin price heating up as predicted if the Stock-To-Flow prediction is anything to go buy. Bitcoin recently reached a new all time high of around $42k, and is looking like it might go higher... Stock to flow prediction: If the S2F prediction is anything to go by, the price could hit around $100k by the year 2022. Check a real time chart and other interesting charts at: https://digitalik.net/btc/ At the moment there seems to be a massive surge of institutional investors who are flooding into bitcoin, and adding it to their company treasuries. I cant actually keep up with all the institutional news about bitcoin so here is a table showing some company reports of bitcoin owned: Check the chart directly here: https://bitcointreasuries.org/ So we have now officially done 10X in terms of price increase since the start of this thread, when bitcoin was $4098, with the current price around $40k. Not bad...
  5. Just thought I would share this video about the MTI ponzi which caught a lot of people in South Africa. Its 2hrs long, and the video in the first couple of minutes is a bit dodgy, but it covers a lot of stuff that 'investors' in MTI should know from the perspective off bitcoin, crime, taxes, liquidation etc. Description: Gareth Grobler with guests Francois Harris & Mark McAllister, discuss the collapse of Mirror Trading International (MTI). We do an overview of the situation as it stands. How we got here and why these guys keep getting away with it. We provide tips on how to steer clear of cryptocurrency scams, how to manage your own bitcoin portfolio, and what to be on the lookout for.
  6. Happy New Year for 2021!!! Just checking in.... Bitcoin is still reaching new all time highs, and is hovering around the $29k mark which is around $25k higher than when this thread was started. Yes, it is completely possible to still see a major pull back in price, but I am still of the mindset that over all, 2021 will be a massive year price wise. Below is a 2yr chart of the price of bitcoin on Bitstamp exchange: Hope everyone has a great 2021!
  7. Been another month, and today bitcoin broke through $20k, reaching a new All Time High! So far the bitcoin price is still sticking pretty close to the predicted price using the S2F model. If things continue on the same path, then 2021 is going to be an amazing year for bitcoin. So far this year has already seen great returns for bitcoin holders. This thread started with bitcoin priced at around $4k, and today it has breached $20k. Not bad at all. The last few months has seen some major players / institutions buying into bitcoin and finally joining in the party. EG: MicroStrategy first bought $250 million in bitcoin (BTC) on Aug. 11, followed by an additional $175 million worth of BTC one month later. Michael Saylor then purchased 2,574 bitcoins for $50.0 million in cash bringing the business intelligence company’s treasury holdings to approximately 40,824 bitcoins. The $475 million of excess cash in the cryptocurrency, has pushed Nasdaq-listed MSTR shares higher for weeks Now MicroStrategy has raised $650 million to buy even more bitcoin, bringing its total exposure to bitcoin to approx $1.1 billion. DBS Bank of Singapore has officially announced the arrival of its digital assets exchange, with trading to start next week. The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets. The new exchange will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa Ruffer Investment (UK) did a Massive Bitcoin Buy of $744M - "Ruffer's exposure to bitcoin currently totals around £550m, equivalent to around 2.7% of the firm's assets under management" MassMutual, a U.S. life insurance company with $567 billion of assets under management announced that they purchased $100 million in Bitcoin for their general investment account. MassMutual noted that the investment is part of a broad strategy, with the goal of achieving “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world." PayPal is also launching a new service enabling users to buy, hold and sell cryptocurrency. PayPal will enable cryptocurrency as a funding source for digital commerce at its 26 million merchants... Square buys $50 million in bitcoin, and says cryptocurrency ‘aligns with company’s purpose’ "Square said Thursday it bought 4,709 bitcoins, worth approximately $50 million." This represents about 1% of Square’s total assets as of the end of the second quarter of 2020. “Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,” the company said in a release. Soooooooooooo what do all the 'big brains' in these companies know that the masses dont?? I think this year coming is going to be insane....lots of bitcoin press and the price will reach amazing new all time highs...but lets see how it all plays out. Luckily we are all front running these big guys, and have been dollar cost averaging into bitcoin for ages....
  8. Its an exchange in S.A., there are a bunch of different ones. I dont personally use it, I mainly use ice3, luno and binance locally
  9. Been a long time since posting here....the 3rd bitcoin halving happened on May 11, 2020, decreasing the amount of bitcoin mined every block by half, down to 6.25BTC per block now. At first, like before and as expected, not much changed price wise, but after a sluggish start, it looks like the next cycle of the bitcoin bull run has begun after the halving trigger. So I reckon we are still on track for a huge increase in price over the next year....hold on to your hair! Sitting at around 70% increase in USD value in the last 6months so far, things are just starting to heat up. The price right now is $16747, up from $4098 when this thread started. Its been very volatile....but those of us who just dollar cost average into bitcoin have seen good rewards. I do know some traders who have lots a lot though, because they were trying to trade the volatility and made bad choices. Going forward, everyone expects a bull run, followed by a decent pull back, before main bull run climaxing near end of next year. Bitcoin STILL appears to be following the Stock To Flow price prediction model above. Wild predictions go from $50k per bitcoin, right up to $300k at the end of 2021....but so as long as its not down, I'll be happy.
  10. Its been just over a month or so....so far so good
  11. I have a lot of altcoins.....I have been using them to get more bitcoin. I got started on altcoins when bitcoin cash forked away from bitcoin, and I dumped those free tokens immediately and used the free bitcoin to play with altcoins. So I have not really spent any money on my altcoins, yet I have built up a lot over time. Often if an altcoin goes up significantly, i'll sell some of it to take profit, then use that profit to get into another altcoin I have been looking at. Eg: I got into LINK at around $1.80 in December, and dumped almost all of what I had at $8.60 just over a week ago. The profits from that has been moved into other coins... Bitcoin is pretty stable when you compare it to most altcoins, so when bitcoin moves up or down, a lot of the altcoins move with it, but in a bigger way. This means you can make a lot fast, and lose a lot fast. So while I think bitcoin is the future, I am not against using pumping altcoins to make myself more bitcoin. Currently my altcoin bags and the ones I think are good to check out are: BTC, ETH, ADA, BNB, CRO, LINK, XTZ, XLM, TRON, VET, ATOM, ONT, XEM, LEND, BAT, KNC, SNX, ZRX, REP, ALGO, ICON, HBAR, ENJ, REN, LRC, RLC, KAVA, BAND, MATIC, TOMO, MANA, WAX, ARK, BZX, POWR, BEAM, PNK, QSP, SWAP, AKRO, PAY I thought I would be fun to edit and add a screenshot of these coins prices so we can look back and smile or cry....
  12. I hope everyone has been stocking up on little bits of bitcoin over the last few months....I keep adding to my stash. The vibe I am getting is that the price might make some big moves soon....there has been a lot of interest in some of the new DeFi altcoins, and many of those and bitcoin have been going up in value.... I have a large bag of altcoins too, because many of them are a lot more volatile than bitcoin. They go up faster, and also go down faster...but if you are lucky and play your cards right, you can make some good returns, which means I get to add more to my bitcoin stash for the long term.
  13. Today is now +- 65 days before the 3rd bitcoin halving. The price has still been ranging mostly between $6k and $10k for most of 2019 as anticipated. Check out info on the halving ETA here: https://www.thehalvening.com/ Today the bitcoin price is $9118 When this thread was started in March 2019, the price was around $4000 so if you discount the volatility and sold now....that would be just over 100% gain in value since last year. There has of course been a couple of times when the price was much higher, and also lower. The bitcoin hashrate is continuing to climb. The hashrate is the amount of computing power that is required to create new bitcoins, and therefore the cost to make bitcoins is rising with the hashrate. When the amount of bitcoins that are mined each day is cut in half, then the cost of making these bitcoin is the same, but for half the amount, effectively doubling their price. The price will jump, and there are also those that think the hashrate will drop, as some miners will no longer be profitable, and will simply stop mining. In both the previous halving events, there was not much change immediately when the halving took place, with most of the price increase happening in the months following the halving, as you can see in this log chart of the bitcoin price below. If history repeats itself, which there is a pretty good probability of doing with bitcoin, then in the months following the next halving, there could be significant price increase in bitcoin. So far the bitcoin price is still following the predicted path as described in the stock to flow price model. If this model is true, then the price will be around 5 times what it is currently near the end of 2021....
  14. Bitcoin also seems to exhibit the characteristics of a veblen good at times. As the price increases, the demand increases along with it, its probably got a lot to do with FOMO by people who want to make money fast. If you have bitcoin, and are interested in profiting off the hype cycle, make sure to have your stop-loss orders set so that you can ride the price up, but sell the moment the momentum changes and the price drops.
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