Cryptocurrencies - General Discussion

Quick question.

What channels do you buy BTC through? Is something like Luno safe or is that just a front for something that can be annexed by government(s)?

Cyclo wrote: Quick question.

What channels do you buy BTC through? Is something like Luno safe or is that just a front for something that can be annexed by government(s)?

Luno is fine, but like any other exchange they likely give your identification to companies such as Chainalysis that use it to track your transactions. The bitcoin blockchain is transparent so that is to be expected.

If you do buy on Luno move your BTC off the exchange if you know how to store your private keys securely as that will prevent the exchange from freezing, seizing or losing your BTC.

Exchanges are centralised companies that covert fiat to crypto and vice-versa, so they are controllable and corruptible. Buy on the exchange and move it to your own wallet.

00pump wrote: Thanks bud, I'll set those price alerts and just starting doing some small trades to get myself into some pattern. I'm sure there are also a few good traders who share some level of trading information. It looks like you have done well for yourself by staying consistent.. I wish when I started mining many years ago I didn't land up selling my coins and cashing out, when I look at the price at which I sold them for I would have been a pretty rich man now if I had continued and kept them in a wallet hahaa, live and learn I guess..

For sure. Looking back, crypto is definitely a prime example of live and learn and 'if only I had done...'

It took me almost 2 years and many sleepless nights after big losses to become profitable on most trades. In a bull market everyone's a genius. When the market is choppy is when you really learn. Some very expensive school fees but I enjoy the risk/reward and learning to improve a useful skillset even if it's through losses.

BTC is my insurance policy against inflation and the corrupt government controlled financial system. Fiat currencies will all ultimately collapse. The more I learn about Bitcoin the more conviction I have in it's success. I don't cash out any trading profits. It all goes to my ledger wallet for my retirement or emergency fund, a bit of ETH and some USDT on exchanges for trading.

if yall wanna make ur own crypto. jsut get kali linux...

wish i knew about kali and its capabilities earlier for anononimity

00pump wrote:
Thanks bud, I'll set those price alerts and just starting doing some small trades to get myself into some pattern. I'm sure there are also a few good traders who share some level of trading information. It looks like you have done well for yourself by staying consistent.. I wish when I started mining many years ago I didn't land up selling my coins and cashing out, when I look at the price at which I sold them for I would have been a pretty rich man now if I had continued and kept them in a wallet hahaa, live and learn I guess..

For sure. Looking back, crypto is definitely a prime example of live and learn and 'if only I had done...'

It took me almost 2 years and many sleepless nights after big losses to become profitable on most trades. In a bull market everyone's a genius. When the market is choppy is when you really learn. Some very expensive school fees but I enjoy the risk/reward and learning to improve a useful skillset even if it's through losses.

BTC is my insurance policy against inflation and the corrupt government controlled financial system. Fiat currencies will all ultimately collapse. The more I learn about Bitcoin the more conviction I have in it's success. I don't cash out any trading profits. It all goes to my ledger wallet for my retirement or emergency fund, a bit of ETH and some USDT on exchanges for trading.

SOOOOO from a stats and risk management perspective i would say. "in a bull market everyones a genius"
Just have a huge heap of btc or eth.
The rest are shitcoins.
However i just paid my vacay for my GF and myself with shitcoins... soooo im not so sure. F*CK STOCKS BUY CRYPTO
{Straight outta the actuary's mouth}

Jacktuary wrote: if yall wanna make ur own crypto. jsut get kali linux...

wish i knew about kali and its capabilities earlier for anononimity

Kali is just a Debian distro with a bunch of tools ontop of it. I don't understand what you saying here.

We are in the middle of a hostile financial takeover. Bitcoin was invented to prevent exactly this, but so far it's behaving like a stock and not a currency. That's because adoption is still low and most that own Bitcoin measure its value against bullshit FIAT currencies. It's a mindset problem, 1 BTC is worth 1 BTC and not some arbitrary USD or ZAR value. It's because of this that stable-coins are the biggest threat to the crypto ecosystem. Over the last two week's we've seen what happened when the UST stable-coin went into a death spiral. Imagine what would happen should the same happen to USDT... Since USDT is centrally owned and controlled that makes it the perfect target for attack. Just something to think about.

That makes alot of sense. Mindset is the problem.

00pump wrote: That makes alot of sense. Mindset is the problem.

Yes, the problem is also that we are in a transitionary stage where moving from FIAT to BTC requires that BTC's value is measured against FIAT. That's a problem countries that adopted Bitcoin as a legal tender also face at the moment.

Hopefully our neighbours Namibia, Swaziland, Lesotho, Mozambique and Madagascar that are currently meeting in El Salvador also decide to adopt Bitcoin as legal tender.

You recon it's a good time to buy another bang? Or wait another day or two?

00pump wrote: You recon it's a good time to buy another bang? Or wait another day or two?

They say it's a good idea to buy when there is blood in the streets... I don't think there's enough blood in the streets yet.

Inflation is public enemy number one in the US at the moment and it's putting the current administration under pressure because of the upcoming mid-term elections. Politicians are psychopaths and will do anything to remain in power, they don't care what they destroy in the process. So, the US Fed will likely raise rates until they get inflation under control to save Biden's ass. The current market crash was the result of people seeing how high inflation still is so they are anticipating the Fed to increase rates more, they have not done so yet... imagine how bad the markets will crash if the Fed increases rates more than what the investors predicted. On the other hand, if they increase rates less than what the market anticipates it will cause a small market recovery.

I don't think the US Fed can increase rates more than 3% before their economy starts collapsing, so they are trying to talk down the markets and it's working at the moment. After the elections they will likely lower rates again, but it is going to be very turbulent until then.

The lockdowns in China are not due to some illness, they are trying to cause a supply chain delay in order to increase inflation in the US... they are trying to make things worse. Inflation is not only caused by too much borrowing, but also by too few "stuff" being produced.

If you decide to buy Btc now, don't go all in... rather dollar cost average. Just keep in mind that the price is going to be volatile and the next bull market is at least a year away... so if you buy then don't sell at a loss if the market goes down more, any investment now should be long term (4yrs +). Take your time and don't let FOMO set in.

I believe the market will crash more but best to just dollar cost average. Celcius network fiasco after the terra luna one is making things even worse on top of what admin said.

Hopefully in the future much more regulation around stablecoins can take place and the stimulus cheque people can stop treating crypto like a casino.

I invest mostly in crypto and metals and been in the crypto space for a while (2 bull and bear markets) but I have to say the last bull market there was WAYYY to much stupid money flooding into the market ,everyone throwing money at meme and shit coins with no utility expecting to become millionares over night.

Thanks bud. I'm going to buy a bit more over the next few days. I'm in no rush to cash out.

So.....bitcoin is currently I think at an all time Rand high...but not a dollar high. So with the guys well versed with crypto, whats the prediction, how high do you reckon we could go with the halving coming up in April?

I think Solana is also doing pretty well....

Wayne wrote:

So.....bitcoin is currently I think at an all time Rand high...but not a dollar high.

The fact that BTC reached its all-time high in Rand, approximately $17k, before the previous all-time high in Dollar, highlights the significant depreciation of the Rand against the Dollar. Additionally, one should consider that the Dollar itself has lost around 12% of its value since the previous all-time high.

Wayne wrote:

So with the guys well versed with crypto, whats the prediction, how high do you reckon we could go with the halving coming up in April?

I'm not comfortable enough to make any predictions, but it is a win no matter which way Bitcoin's fiat price goes. If the price crashes, I buy more... if the price moons, I enjoy watching the fiat maximalists panic.