Thread: RIP Bitcoin

^ I don't know of one.

APPC just broke $4USD!!! WHOOT!!!

Originally Posted by jabir

Anyone know a 'reputable' exchange that accepts deposits via paypal? Am sick of bx adding 10-15% premiums, and last night thb-eth was +20%!

getting money in is a fucken expensive pain...

Don't notice anything with BX, if only trading on that exchange.

Put in say 50k baht via K-Bank. BX THB Wallet shows 50k. Buy 50k baht of whatever crypto at the price people are selling at. 0.25% fee taken as crypto, Portfolio lists 50k baht (minus the 0.25% fee.) If the buying rate of the crypto reaches 60k baht. Sell it at that minus the 0.25% fee. The BX THB wallet will be 60k baht. Deposit this to your bank account, for 60k baht it lists a 80 baht withdrawal fee. The amount to your bank account 59,920.


If you're taking what you're buying to other sites for trading and selling, then the BX buy/sell price might make a difference, but if buying and selling them solely on BX I don't see anything besides minuscule fees.

Why is Bitcoin 14,300 USD on Blockfolio and on that BX exchange 545000 thb-17,000USD ?

The 14,300 is the average across all exchanges and is the correct figure

So itll cost me 2,700 USD more to buy one on BX? and coins.co.th want 555,000 baht for one

Originally Posted by Dillinger

Why is Bitcoin 14,300 USD on Blockfolio

Blockfolio is total shit. BitUniverse is ten fold better.

https://play.google.com/store/apps/d...ortfolio&hl=en

The prices showing on all those cryptos on the Thai exchanges are 20% higher than that Blockfolio.

Am I missing something here?

Haven't used BitUniverse but Delta app is the tits

^ BitUniverse syncs with most of the exchanges and updates in real time. Blockfolio doesn't do that. Not sure about Delta but BU is all I need.

Bit Universe has BTC at 16,000 USD.

Is that right then ?

No its too high. 14,300 is the current price

Portfolio is basically flat today. Up big in ETH, down big in bitcoin, everything else just sort of canceling itself out.

If buying and selling on the same exchange, it doesn't matter what the rate is compared to others.


If you can buy for $12,000 on some other exchange, and sell for $17,000 on a Thai exchange because they are so much higher, you're gonna be making serious money in seconds..... let us all know where you can buy 20% lower.


Yeah, Blockfolio is shite.

Originally Posted by Dragonfly

the bank doesn't handle bitcoin trading because it doesn't deem cryptocurrency an asset class.

They don't but for tax purposes some governments around the world do, fokkers.

Originally Posted by Dillinger

Bit Universe has BTC at 16,000 USD.

Did you pick an exchange? I am looking at binance on BU and the its is 14248.72

Originally Posted by Luigi

Yeah, Blockfolio is shite.

Originally Posted by Plan B

They don't but tax purposes some governments around the world do, fokkers.

If you live in the US this is.....not good

Originally Posted by bsnub

Did you pick an exchange? I am looking at binance on BU and the its is 14248.72

Right now people are bidding to buy @ $16891 on BX (544,000thb)

If you can buy on Binance at that rate, get it to BX to sell, there is an 18% profit in doing so. Somehow I feel the various fees wouldn't make it worth while, but check it out.

ahhh. it said average. Yeah I see Binance now and the figure 87000 baht cheaper than that fukkin BX.in.th

I posted on this some pages back; take it slowly, if you want to day trade that's fair enough and best of best to you, as long as you are aware of what's actually going on; a daily profit of around 15 or maybe more % (depending on your trading volume, because it's as exponential as the zero on a roulette wheel!) will allow you to break even, and this is after you cover trading/transfer fees, spreads and withdrawal fees etc.

Most prices on the bx trading list are 10-15% above other exchanges, occasionally up to 20%. Check it out, go to the bx trade list and compare each coin against the average on other sites. This effectively means all cash deposits that you use to buy coins on bx are subject to that 10-15% premium; say you deposit 100k, your cash balance will show 100k but the actual value of that cash is 85-90k.

This is the reason I offered to buy peer-to-peer, for cash; avoids the extortion and both sides benefit...but it was met with silence, which says either that others don't see what's happening or they are happy enough to pay through the nose for the privilege of turning a profit.

Now, I understand what you say about trading only on bx, but no offence and let's take the illusion of your own example.

Put in 50k and you have 50k cash balance. Buy 1 ETH at 50k (less trading fee). Cash balance zero, coin balance (just less, but say) 1 ETH.

Assuming no price movement, if you transfer and sell that ETH at another exchange you will get around 42k for it, because that's the real price. But if you try to sell it straight back to bx, from whom you have just bought it for 50k, here's the catch, they won't give you 50k for it, not 48k or even 45k, because the real price is 42k; instead, you will see a green 'order successful' popup which may encourage you to believe you have sold it, but actually all they've done is, as the popup says, successfully created a sell order for you. Now you wait.

If the real ETH price doesn't reach 50k you wait forever. If the real ETH price does rise from 42k to 50k (by which time bx will be listing it at 60k), then your bx sell order at 50k kicks in and you have your money back (less spreads and fees etc).

In fact the best way to explain all of the above is to consider this: If bx has ETH at 50k and everyone else at 42k, why not simply buy a truckload on binance at 42k and transfer for sale to bx at 50k? Arbitrage, except it's an illusion.

And bx with its sister firms have a complete monopoly over those in Thailand using THB, which is why in an unregulated market they can get away with this.


Not finished yet! If when reading the above you thought to yourself 'no I've never seen that green 'successful order' (or order created) popup', and indeed it doesn't pop up when you try to sell your 50k bx ETH that's worth 42k, it probably means you placed your sell instruction as a Market Order (market price, real price, 42k), not a Limit Order (50k). Now you get a 'completed sale' popup instead of a 'successful order' popup, because the sale is completed but at 42k, not 50k, which is easy enough not to notice in a trading frenzy.

Originally Posted by Dillinger

So itll cost me 2,700 USD more to buy one on BX? and coins.co.th want 555,000 baht for one

That's what I've been saying from 30 pages back! See my previous post.

Yeah, Jabir, you're talking about transfering between exchanges.

It doesn't make any difference at all if buying and selling on the same exchange.


If the buy/sell price is so much greater on one exchange (BX), have you bought on the lower exchange, transferred to BX and immediately sold at the much higher BX price?

Originally Posted by Dillinger

So itll cost me 2,700 USD more to buy one on BX?

Doesn't matter, if you sell it on BX, as the sell price (what people are selling at) will be the same % higher.


Buy it lower on the lower exchange, transfer to BX where people are bidding to buy at $2700 more, quids in.

Originally Posted by Luigi

Yeah, Jabir, you're talking about transfering between exchanges.

It doesn't make any difference at all if buying and selling on the same exchange.


If the buy/sell price is so much greater on one exchange (BX), have you bought on the lower exchange, transferred to BX and immediately sold at the much higher BX price?

NO, Luigi, which is precisely the point I'm trying to make, and using your own examples but you won't see it. Forget other exchanges; what you buy on bx must go up 10-15% before you can sell it back to bx and break even, before even thinking of a profit.

Go on, you said earlier you were experimenting in prep for day trading, so try this experiment: buy something on bx, say 1 REP @ 3360 which is the price right now against 2788 on Coinmarket right now. Then sell it straight back on bx: your sale will not go through at anything like 3360 or even 3000 unless it's a MOrder, which means around 2788, and you have already lost almost 20% (+fees etc).