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BitcoinZAR

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Everything posted by BitcoinZAR

  1. 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!
  2. BitcoinZAR

    Coinrule

    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/
  3. 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...
  4. 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.
  5. 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!
  6. 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....
  7. 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
  8. 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.
  9. Its been just over a month or so....so far so good
  10. 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....
  11. 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.
  12. 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....
  13. 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.
  14. I wrote a new post about the 2020 halving this year for those who are interested. It explains more about the event. If you are interested in knowing more about it, you can read more here: https://www.bitcoinzar.co.za/2020-bitcoin-halving/
  15. The year is ending and the bitcoin halving is still approaching. Like previous halving event, the price did indeed start to show an improvement, and it has continued to range mostly between 6-10k for most of the year which is what I was expecting. With the halving event getting closer, I would expect some people to start front running the price up to the event, but the real 'chaos' and volatility to probably come in the months following. It all depends on how many people will try to use their knowledge of the halving as an advantage, to buy ahead of time. Today the price is about $7430 which is around a 98% increase in value from today's date one year ago. Currently sitting at about R114852 on ice3x.com exchange and R114224 on Luno. That is about a R10k price difference to the USD price, so there is some wiggle room for arbitrage, if you are buying on a US based exchange like Kraken and then selling on SA exchanges. I am still accumulating now that I am back from my travels in South America, and still believe that the real big price increases will be in the months following the halving event, which is now predicted to be on 14 May 2020. My "guestimate" is that IF there is another repeat of events like what has happened in the past halving event, the price change could improve again by 5 to 10 times what it is now, within the next 3 years. Of course, if you want to benefit, you should only use money you are prepared to risk, as bitcoin is extremely high risk....but potential high reward. So far the price is sticking close to where it is predicted to go if you are using the Stock to Flow model.
  16. Anyone in Cape Town or Jozi and fancy a beer and casual chat bout bitcoin? A couple of us are going to be at Tigers milk Century City, see the event here: Some people in JHB want to meetup too, so the next day there will be one at Hard Rock Cafe, Sandton, see the event here: Both events are totally casual as usual. We keep it old school like it used to be before corporates got involved.
  17. I have been playing around with this Kriptolink point of sale device, that kind of doubles as a bitcoin ATM. Its pretty cool, and a nice way to be able to get customers to pay you in bitcoin. You can use it to take payments, and also let customers use it to buy and sell bitcoin. I have been away, so didnt get a change to set it up until today, and so far I am liking it. I dont need a point of sale device, but I liked the idea of a portable bitcoin ATM. I have connected it to the API of my account on the ice3x.com exchange. A potential customer can choose to buy or sell bitcoin with me. If they buy, then they give me cash, and they scan their wallet with the device. Then using the price on ice3x plus my profit that I can adjust, they are charged a price for the amount of fiat they want to spend. After it goes through, my wallet send the bitcoin to theirs, I keep the cash, and the terminal market buys back the same bitcoin I sold on the the ice3x platform. So the bitcoin I sold is replaced, and I make a profit, and the customer gets their bitcoin for cash. If anyone is interested, I did a blog post on it a few months ago, you can read more about it here: https://www.bitcoinzar.co.za/kriptolink-bitcoin-atm-pos-terminal/ Oh yeah, this is a 100% local system. The guys behind it are South Africans Local is lekker!
  18. Bitcoin signals groups are a waste of time I think. If anyone actually could predict with certainty what the price would do short term, they would sure as hell not tell everyone else and destroy their advantage and reduce their own profit. They would shut the hell up, and make $$$. These signals groups cannot predict events that move the market violently one way or the other, same with TA and charts. No charts or TA / signals group is going to predict the next China ban, exchange hack, or ETF being approved news that moves the market. The only thing anyone can do, is look at the past, and come up with probabilities of what might happen....its like astrology for cryptocurrency. There are many probabilities, nobody is 100% certain on which one will be the one that happens.
  19. There has been some great arbitrage opportunities with all the volatility recently. I have done a few good trades between ice3x and luno to increase my bitcoin trading stash.
  20. Just checking in....the price today is $10300 odd...I still expect it to range sideways then go upwards as the halving gets closer, with the real price increases coming later in next year if history repeats itself. I think bitcoin is going to be an amazing hedge against the Rand in the coming months as it goes up in value. I will probably only check in here again at the end of the year, I am traveling again for a few months in South America, but will check in if the price starts mooning
  21. Update: Posting here since the price passed $10k today (22 June 2019) that is over 180% in the last 6 months. Of course the price could still go down....I still feel the price will range between $6k and $10k for the rest of the year....but now that $10 is breached, maybe I can raise the upper limit to $12k. The bigger picture is the long term price after the next halving event in May 2020. ETA is 21 May 2020, which is 334 days away. A lot can happen in that time, but I still feel it will be an upward trajectory. The months following the halving will be when the real exciting stuff happens... I wrote an update to my post on bitcoin investing here: https://www.bitcoinzar.co.za/easy-bitcoin-investment-in-south-africa/ It shows how dollar cost averaging can be an easy way to accumulate bitcoin over time, which can increase in value. One of the tools I used to demonstrate is available on this website: https://dcabtc.com/ It shows you how much value you could have made had you been dollar cost averaging already. Here is an example: "Wow! Buying $50 of Bitcoin every month for 3 years starting 3 years ago would have turned $1,800 into $7,684 (+326%)"
  22. I reckon if you want to diversify, rather have bitcoin, property, investments etc.. To me, diversifying into other cryptocurrencies is like diversifying your gold holdings by trading some of it for copper, tin, platinum etc. Yes the price of the others can go up, but they in a completely different league to bitcoin. Most of these other coins have massive supply, no real demand to match that massive supply in order to push up the price. Most of the altcoins go up in USD value because bitcoin goes up, and the also down when bitcoin goes down. They are pegged to the bitcoin price, since you use bitcoin to buy most of them. It is not often that they make massive gains in BTC value, although it did happen in 'alt season' in 2017. That time it was mainly due to the bitcoin bull run, combined with a bunch of shady ICOs being launched. There are a few of these websites like DCX operating in South Africa now, all pretty much doing the same thing. The problem I have with them is they show the gains in Rand or USD, and not in bitcoin. Most of the time, its better value to just hold bitcoin, and you would have lost value if you compare the gains made in value compared to that if you had just stayed in bitcoin. These websites have not been around long enough to prove themselves...but we have been around long enough holding bitcoin and altcoins to do the maths ourselves. I successfully turned my altcoins bitcoin value into 1/5 of what it would be if I had just held onto bitcoin instead....because I was diversifying lol. If I had just held bitcoin, I would have had less volatility, and be sitting with 5x the value right now. At lease DCX put a performance chart on their website, but without actual customer data, they are just using the past prices and working out the gains if a customer had used the service if it had existed back then. If you look at their performance to bitcoin, they only time you might have made more gains, is if you had invested more than 3 years ago. This is of course including the massive pump and dumps during the alt-season ICO rushes.... The thing to remember also is that these things work great when the market is going up. When the market is going down, its an ugly mess. At least with DCX I like that you can dump the lot to Rand....so if the market suddenly turns, you can exit quite easily. Another thing I like about DCX is that they are 66% bitcoin and only 33% altcoins, so they are not being as risky as some of the other companies also offering a similar service locally. As of today, here is a screenshot of the same coins DCX offer. The columns to look at would be the BTC ones (24hr vs BTC, 30 day change to BTC, and 1 year change to BTC) You can see that instead of holding bitcoin, if you had held that basked of coins, you would have lost value, and that shows in the DCX10 token performance pic above, from their website. I think the reason many of these companies are popping up now, is because there is a high chance of another bull run now, so there is a good chance many coins will pump in price along with bitcoin. In the next bull run, as usual, the biggest upside will be an altcoin with crazy risk. Bitcoin will produce the highest risk adjusted return, but it wont be the biggest upside as altcoins will always pump harder and fall harder. I think maybe companies like DCX are banking on one of the altcoins in the basket of cryptocurrencies being one of those altcoins that goes mental. Compared to holding Rand though, I would definitely choose bitcoin or something like DCX10 instead.
  23. 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...
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