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BitcoinZAR

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BitcoinZAR last won the day on May 25

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About BitcoinZAR

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  1. Bitcoin has made strong returns....litecoin has done better (upcoming halving for litecoin soon.....), and ethereum has done bad. They all went up in USD value, but because they are pinned to bitcoin price, you need to look at the BTC price, not USD price. 1 year change to BTC they are all down, with LTC being the closest to outperforming bitcoin Look at the top 5 performance to BTC...
  2. It has been just over a month since this thread started. It seems that the price has started to go up and is approx 46% up over the last 30 days. Today (01 June 2019) the price is around $8500 You can see over the last month the trend is up, but there has been some big jumps and drops in price along the way. Anything can happen in bitcoinland, it might still tank horribly short term, but I still think mostly sideways to upwards for the rest of the year overall, possibly increasing in volatility closer to the halving
  3. I cant view it because its behind a paywall that I wont pay...but ja, I dont trust those guys one bit
  4. Some interesting stats and information. A closer look at the way the bitcoin price is following the stock to flow model A chart showing the bitcoin halving time periods and how the price has reacted in the past Historical Bitcoin Prices in USD if you went back from today. Basically from todays price, if you have been in bitcoin for longer than 1 year, you are probably in profit. 2 years or longer, and the % profit starts to go up quite a bit:
  5. I think we might have seen the bottom already ($3122?), and expect the price to range sideways for a while longer, moving over to a bull market. I guess maybe between about $6k and $10k for a few more months. I just keep adding to my stash.....I am permanently bullish at these price levels anyway. If the price goes down, I buy more, if it goes up, I just get less for the same money.
  6. There is a hype cycle because the supply gets cut in half, and people who trade know this and make money off the fact that the supply will be decreasing. Think about it....You know for a fact that in 4 years time there will be 50% less bitcoin being mined each year, and then 4 years later, again 50% less, going on and on forever. Even if there is no more demand than there is today, when you cut the supply in half, but keep the same demand, the price should surely go up a lot. People who trade bitcoin know this, and they start buying up bitcoin in advance, with the purpose of selling it later at a big profit. This causes the hype cycle to repeat itself over and over, with higher highs, and higher low prices too. It costs so much, because there is so much demand for it. If nobody wanted it, the price would be zero, but everyone wants it, and the demand is reflected in the price.
  7. I have ordered single units as replacements which came without having to pay extra duties. Buying bulk means you definitely have to pay the duties, and also the fee to the courier company to 'process' your order and delivery. I am out of stock of Ledger Nano S devices and most likely not ordering bulk again, unless I can make it worth while. Bulk orders are not priority to them, so they sometimes take months to arrive, while the price of bitcoin changes drastically during that time period, which means your profit can disappear completely. For the end user, its faster and cheaper to just order directly from Ledger now, especially since they added free shipping for small orders to South Africa, and you might not need to pay duties. Bulk orders you still need to pay for shipping, so that is additional cost for resellers too. The time, expenses, and possibility of losing money means its just better to refer customers to them directly.
  8. Right now its cheaper to just buy direct from Ledger than from any retailer in South Africa because you get free shipping.
  9. An interesting post that predicts a bitcoin price of $55,000 after the 2020 halving: https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  10. Locally I prefer to use luno and iceCUBED. Internationally I use Bittrex, Binance, Bitstamp, Cex.io, Kucoin among a bunch of others I am registered on
  11. Today marks 422 days approximately until the next bitcoin 'halving', where the amount of bitcoin that is able to be mined every day is cut in half forever. The approximate date will be 24 May 2020. After previous bitcoin booms and busts in the hype cycle the uptick in the price has started to show improvement around 500 days before the halving. We are past that point, so I am hoping that there will start to be a slow steady increase in price again like there has been before. Lets see if history will repeat itself once again. The Bitcoin block mining reward halves every 210,000 blocks, and this time the coin reward will decrease from 12.5 to 6.25 coins approximately every 10min in May 2020. Usually there are guys who anticipate the increased demand and the price increase that responds to the demand, who buy in advance so that they can sell when the real frenzy starts at a great profit. I would bet that if things go like they have gone in the past, people will buy up bitcoin leading up to the halving, and might even dump a bunch before the actual date, before other guys get a chance to do the same thing. Lets see how it all plays out...The price of bitcoin on 28 March 2019: $4098 (according to coin market cap) EDIT:
  12. Just thought I would put this out there....I have a Telegram chat channel where we talk about bitcoin mostly, as well as other cryptocurrencies. If you want to ask a specific question, or would like to just chat casually about bitcoin / crypto with other people in South Africa, check it out. The channel is informal, and it is not a trading signals channel or anything really technical. Its mainly for casual chat about crypto. If you are on telegram, come and visit! https://t.me/bitcoinzarchat
  13. Good to be back! Finally managed to log in again, was having trouble for ages. When you rise fast, you drop fast too...who knows how low it will go, possibly even as low as $1000....all I know is that in time it will go back up again, and we will have new highs. My guess is that the next bear market will be when the price dumps down to the $20k mark. The next halving is getting closer, and I would expect that the price will range for a while longer before starting to pickup again running up to the halving event. Personally I just hold my main stash and dont bother trying to play the market much. The reason being that for me to cash in my main holdings on the way down, it would mean moving them to an exchange and selling, which opens up a can of worms. I expose myself in terms of how much bitcoin I have on that address and other addresses that have transacted with that address. Secondly, that can be seen as a taxable event, if I am 'cashing out', which I dont want to do right now, and thirdly, if I did cash out my main stash then I would now be sitting with a ton of cash on an exchange which I dont trust all that much. If I have to wait months to buy back in, I will be constantly worried that I have a lot of money on the exchange that is at risk. I prefer to keep my funds locked down as bitcoin, secured on my hardware wallet offline, where nobody knows that its mine. I am a reckless, but patient, and i'll wait it out a few more years before worrying about changing it back into government money. By that time, maybe I wont need to...who knows. I am still buying bitcoin....I do every month because its my long term savings plan. Now with the lower price, I just get a ton more than I was when it was closer to $20k. Win win in the long term.
  14. Hows everyone still doing with their bitcoin? Holding? Trading? Buying more? Out of the market? I have been trading a lot with my trading stash, growing the bitcoin in the accounts. I have buy and sell orders set and also stop limit orders set at certain prices. On good days both the buy and sell orders have been hit with all the volatility
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