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Good to be back! Finally managed to log in again, was having trouble for ages.
 

On 11/15/2018 at 3:50 PM, JamesYellen said:

Hey @BitcoinZAR do you think this is the dip towards the low $4000s people have been calling for earlier this year?

 

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.

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On 5/14/2019 at 10:09 AM, Spreadsheet Ranger said:

@BitcoinZAR what do you make of the recent price jump? 

 

I can't imagine the bottom to be in yet.

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.


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21 hours ago, JamesYellen said:

This whole article is crazy. Craig Wright and Calvin Ayre are orchestrating an attack on Bitcoin in front of our eyes.

EVERYONE should read this and digest what is happening.


https://www.bloomberg.com/news/articles/2019-05-21/bitcoin-s-supposed-inventor-says-he-won-copyright-registration 

I cant view it because its behind a paywall that I wont pay...but ja, I dont trust those guys one bit

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Posted (edited)

The three majors alone have made strong returns this year - BTC, LTC, ETH. That's great for trades made this year, but anyone holding from the all time highs will still be in deep losses. But I think investing in crypto remains quite a risky. I prefer to use my crypto for gambling mostly. I found online casino on syndicate.casino/en-za/casino/slots to get some extra crypto faster. That's so entertaining!

Edited by WilliG

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Posted (edited)

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...

 

1591706576_Screenshot_2019-06-18Cryptoassetnetworkvaluemarketcaprankingsmetrics.thumb.png.63248ea1a463d843159622b0af590660.png

Edited by BitcoinZAR

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I received the below from EE this morning.

What's your thoughts?

 

You've been hungry for Crypto to be added to our spread of investment goodies for a while now. Well get ready to roll up your sleeves: we've brought you a smorgasbord of the best, and the creators aren't short of FinTech Michelin Stars. 

Former FNB CEO and venture capitalist Michael Jordaan and entrepreneur Earle Loxton's DCX10 crypto token, is now available on the EasyEquities platform.

The DCX10 token is a crypto token linked to the value of the DCX10 Index. The DCX10 Index holds the top 10 cryptocurrencies. It's got all the good stuff in there (including a big chunk of Bitcoin), making it diversified and less risky than if you were to invest in individual cryptocurrencies on an exchange.

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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.

1420369501_Screenshot_2019-06-21DigitalCurrencyIndex.thumb.png.217280f93e45a034f1ffb457f528f927.png

 

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)

 

2084589387_Screenshot_2019-06-21Cryptoassetnetworkvaluemarketcaprankingsmetrics.thumb.png.3117e611445f53f36f3cb861e43ab416.png

 

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.

 

 

 

 


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Thanks for the well thought out response.

I took the plunge and put 2K in.

Will let it sit there and see what happens.

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I've put some money into DCX10 yesterday myself when it launched on EE, the great thing I like about it is the Weight is calculated on the Market cap of the coin from their Top 10 Coins on their Index, so yesterday Bitcoin was on 66% Weight it is now on 68% as the Market Cap increased for Bitcoin and Eth is on 11%, another platform I've seen called Rivex they just do 10% Weight on the Top 10 Coins which I don't like at all, I definitely like DCX10's strategy.

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Posted (edited)

I think it's very profitable investment for the future. Also I'm planning to invest in ICOs and often play bitcoin games at bitcoin play casino online to get some extra coins. That's so convy! Th best part is that this casino give bonuses for new players.

Edited by WilliG

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I've put some money into DCX10 yesterday myself when it launched on EE, the great thing I like about it is the Weight is calculated on the Market cap of the coin from their Top 10 Coins on their Index, so yesterday Bitcoin was on 66% Weight it is now on 68% as the Market Cap increased for Bitcoin and Eth is on 11%, another platform I've seen called Rivex they just do 10% Weight on the Top 10 Coins which I don't like at all, I definitely like DCX10's strategy.
I also have some in DCX10.

I'm sitting on a bit of cash. Really hoping to see BTC go below $6k in the coming month before it goes up.
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Join the official JSE Discord Channel

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Not that I'm the biggest crypto fan, but if it drops below R6k I'm buying more DCX10 than I usually would.


IQ Test

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I took the plunge and bought during the dip below $7000 so far I am feeling happy with my choice. 

 

I see Ice3x is an advertiser on the forum as well, I actually used them so that cool. 

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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.

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