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Bitx is now luno.com

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I see bitx.co has now changed and is now luno.com

 

Luno makes it safe and easy to buy, store and learn about Bitcoin in South Africa

 

We founded BitX in early 2013 to bring the power of digital currency to the world. We believe that decentralised digital currencies like Bitcoin will fundamentally change how the world views and uses money: cheaper, faster and safer transactions; more privacy and financial freedom; a significantly better user experience; and ultimately, more equality by giving everyone in the world access to the same financial system.

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I guess they would be a strategic company for Naspers? Given Naspers interest in china and bitcoin being mainly china based lately, what I mean by that is from what I read here:

 

http://www.theepochtimes.com/n3/2080774-what-is-going-on-with-china-and-bitcoin/ and https://www.cryptocoinsnews.com/largest-bitcoin-stash/

 

This stood out to me: “If you are willing to get capital out of China badly, then you are willing to take the risk,” Luria says. I can imagine Naspers would like to have control of their own bitcoin exchange...

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I got the Email, the rebrand looks interesting, I wonder if it was because they did not own the .com for bitx or was there another reason. That being said the price of bitcoin is sickening to me, to think in my prime I had the chance to get aboard the bandwagon early on, only to lose out because I was too busy debating whether it was worth it based on the price of electricity then. When the opportunity was actually to buy coins from existing miners when it was still considered a novelty and people was doing things like paying 10000BTC for pizza.

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I wonder how many BTC are lost? By "lost" I mean, when you could first mine your own and the difficulty was ridiculously low and BTC were worth fractions of a penny, I have plenty (as did a friends), then lost interest, took off on some other tech project, and the drive ended up getting formatted, the address/key lost. So those BTC are lost forever. Question I have is, how many more are like that?

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I wonder how many BTC are lost? By "lost" I mean, when you could first mine your own and the difficulty was ridiculously low and BTC were worth fractions of a penny, I have plenty (as did a friends), then lost interest, took off on some other tech project, and the drive ended up getting formatted, the address/key lost. So those BTC are lost forever. Question I have is, how many more are like that?

 

That is an excellent point. Something I've wondered myself, can you imagine how *bad word* please do not do thated people must be if they had lost their hardware/data containing their wallets now with one bitcoin worth over R10k ONE BITCOIN!!!? Do you think there is a business opportunity in buying old wiped hard drives from classifieds and using hard drive recovery software on it to see if you cannot retrieve any wallets. Kind of like physical bitcoin mining. Mmm...

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Has anyone used Luno.com? I got an invite but unsure about the costs and security.

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I've been using Luno.com (previously Bitx) for more than a year now... Can't complain about everything. And it is easy with their app also to stay up to date with the current price.

 

If you go to their website, you can see their fees: https://www.luno.com/en/countries - which I think is reasonable.

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I am reading this right your fees are 1% to and sell, isn't that expensive for a currency?

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No I have not, has anyone else?

 

  • Website: www.ice3x.com
  • Deposit Fees: Free
  • Withdraw ZAR: R10
  • Withdraw bitcoin / litecoin: Free
  • Trading fees: 1% of trade value for individuals, 0.8% for traders
  • Know Your Customer: FICA, Proof of ID / residence
  • Security: 2 Factor Authentication (Google Authenticator), Secure digital certificate
  • Developer API: Yes

  • Website: www.luno.com
  • Deposit Fees: Free
  • Withdraw ZAR: R8.50
  • Withdraw bitcoin: Free
  • Trading fees: Either 1% or 0% will be charged depending on whether you are taking or providing liquidity. Limit orders that rest in the order book won’t incur any fees when matched while orders that match immediately will be charged at 1%
  • Know Your Customer: FICA, Proof of ID / residence
  • Security: 2 Factor Authentication (Google Authenticator), Secure digital certificate, email notification of trades
  • Developer API: Yes

Source: http://www.bitcoinzar.co.za/bitcoin-exchanges-in-south-africa/

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