u seems hard to understand simple thing.... those who buy @ 20% higher than market price is because they wanted to cash out... read a few pages before it, alot saying 'its better to lose a bit than risking all your money' thats how supply and demand works. imagine you ahve 100k in luno, and you have no idea when luno gonna solve this issue.... and you worried that luno will went MIA or tax man simply took all their money for 2 ~3 years... do you want to lose 20% buying eth and transfer out to other places?

This makes little sense. You don’t buy into a higher market to cash out, if you are doing that you don’t have a clue what is happening.
If you have RM100k in luno today you should leave it alone until they fix the withdrawal. You would be a fool to purchase anything with Luno exchange price, you should only sell.
If you have BTC in luno today you should move it to another wallet or exchange for safety or for trading.

If luno fixes the issue and the exchange stays higher then you should always use luno to sell and never to buy, ie take advantage of arbatage.

Haha, CNY is coming everyone here wants to cash out. Hope it gets resolved soon.

that is you have faith in them, they will fix it... what if they can not fix it ? have you tot of that? lose 100k? you yourself already said, 'for safety'....i think you have no clue what the hell you yourself are talking... anyway, believe whatever you believe in... some believe it will not lose anything by holding RM in luno (that is why ppl are still selling btc in luno), some preferred to lose 10~20% by BTC/ETH and keep it elsewhere. its all about risk appetite and judgement.

This post has been edited by klthor: Feb 2 2018, 10:19 AM

like you said, only sell, dont buy.......then, sell to who?

This post has been edited by keane04: Feb 2 2018, 12:33 PM

It is not i hard to understand simple thing but it is you who try to complicate thing. I have mentioned many times Luno price is higher and Luno keep saying it is willing buyer and willing seller which i said is totally BS. Anyway, i also mentioned that i have transferred all my coins to my hardware wallet. So case close for Luno. If one day withdrawal is possible and price stay high, i will transfer back to sell. I said IF ok, which i personally don't think it will stay high when withdrawal option is available.

Sell to Luno users in Luno. Again, your cash stuck there until Luno fix the issue. Many people have transferred their coins out of Luno for safety purpose.

you yourself pulling out btc from luno is a sign of low supply in luno. simple fact of supply and demand yet couldnt understand. stay out from luno, they might use their 'tactics' again.

you are absolutely right

but whether LUNO manipulate the price themself or not, only LUNO staff know, the queue in exchange can be bots if they wanted to do so..

If buy and sell queues both came from Luno staffs. You should know the price will not drop much.

i can agree on that. some would like to believe in luno, some can have their own conspiracy theory. some prefer to cash out despite losing 10~20% some prefer to have faith in luno to solve this issue. im not putting a verdict on this, but based on my experience with LHDN... be prepare for a 3~6 months time to solve this. my 'solve' means arrive in conclusion, not the date of operating and unfreeze everything. why? because i have seen LHDN bring in police, LHDN officer, warrant... raid office, freeze director personal account ( yes, not just company account mind you), took all the accounting files, copy all your files inside server and hdd....

This post has been edited by klthor: Feb 2 2018, 02:56 PM

you are not making sense and changing the context of my reply. You can not talk dollars (RM) and BTC under the same value. When you say 100K are you talking BTC or RM? I'm assuming RM.

If you have Ringgit in Luno that means you have RM inside their wallet but not BTC. If you use that RM now to buy BTC you are wasting your money as it is almost double the price elsewhere. Right now you can not withdrawal that RM so hence leave it there and hope that Luno fix it or risk taking an almost 50% hit!

If you have BTC (in Luno or anywhere) you could send it to luno and sell it (ie turn it into RM) and wait until Luno fix there issue, if you think they will.

This post has been edited by TallJustin: Feb 2 2018, 03:14 PM

sell to the fools that are buying at this silly high price.

i highlighted your phrase is simply because the key word is for safety. some smart people already cabut with 10~20% losses long long time ago. now left those who pray hard day and night for luno to solve it ASAP and those greedy pep who sell btc at luno. you cant see the picture, i dont blame you... im lazy to explain, some people find it hard to min losses. remind me of my early days of playing with forex and share market. yes you can hold and hope.

This post has been edited by klthor: Feb 2 2018, 03:20 PM

there are always 2 sides of a coin.

A holds RM100k in luno. he decided to stay and wait for luno to resolve it. IF luno resolve the issue, RM100k withdraw no problem. IF luno fails and tutup kedai, RM100k gone in thin air.

B holds RM100k in luno. He decided to buy BTC in luno at premium aka lose RM60k and cash out at coinhako RM40k. IF luno resolve the issue, this fool lost RM60k. IF luno fails and tutup kedai, this fool cut losses at RM40k compare to smart peps that hold RM100k till dooms day.

end of story, not going to elaborate any more from here. you are narrowing your mind to 'LUNO WILL SOLVE THIS'. yes i think most likely they will solve it, why dont you sell your btc there to make a quick flip?

This post has been edited by klthor: Feb 2 2018, 03:32 PM

double post

This post has been edited by klthor: Feb 2 2018, 03:30 PM

I have no faith in LUNO at all, they are dodgy AF but I might still flip some as a hedge. The important point is be prepared to lose your money if you use LUNO, if you can afford to lose it then make a call.

Sell now guys :


We continue to work to resolve this matter as soon as possible. The IRB has now agreed to unfreeze our account while it completes the investigation, and we are working closely with Maybank to have the account operational again.

We’ll send out wider communication via email, in the Luno apps and on social media once we can confirm the status of the bank account.

BINGO!

they announce when BTC is crashing down? hmm coincidence?