Cryptocurrency Daily General Discussion - December 18, 2017 |
- Daily General Discussion - December 18, 2017
- Is Bitcoin a Bubble? Andreas shares his throughts.
- First mover advantage
- Throwback to that time Ether flash-crashed on GDAX to $0.10
- Financial Modeling for Cryptocurrencies: The spreadsheet that got me my first 1,000% gain
- Power Ledger Signs Agreement With BCPG To Bring Distributed Renewable Energy Trading To Thailand!
- Suddenly Everyone Is An Expert …
- TFW Its midnight, but your cards are STILL MININ', ///goodnight\\\
- Binance Lists ICON (ICX)
- Great article about Request Network and it's future with IoT
- Power Ledger Signs Agreement With BCPG To Bring Distributed Renewable Energy Trading To Thailand!
- I do own Iota, and I'm also really hyped on Raiblocks. Here's why
- Fear the volatility of alts, not the CME/CBOT
- This emoji pisses me off. Increase icon is colored red and decrease icon is colored blue.
- Huobi.Pro adds Vechain : a little snack before the Major listing
- Ark getting on more articles, good exposure. Ark article front page at discover.coinsquare.com atm
- Just finished making my Christmas presents.
- I day traded traditional equities for nearly 10 years. Here are some tips for those that want to give it a try in crypto.
- We've been working really hard to give Jamie Dimon an opportunity to short Bitcoin, and anybody who says that you know, it's a fraud or a bubble, you can go now put your money where your mouth is, and bet against it.
- Waltonchain meets with Vice Minister Guo and Director Liu
- Stellar Lumens Article in Forbes
- XRB gets a new exchange
- Most ICOs right now don’t need their own coin, they’ve just been developed to have their own coin. They are just regular startups disguising themselves to buy into the cryptocurrency craze.
- NEO Price Reaches a new All-time High of $74.6
- Monero Multisignature just got merged
| Daily General Discussion - December 18, 2017 Posted: 17 Dec 2017 10:06 PM PST Welcome to the Daily General Discussion thread! Guidelines:
Rules:
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Thank you in advance for your participation. Enjoy! [link] [comments]  | ||
| Is Bitcoin a Bubble? Andreas shares his throughts. Posted: 17 Dec 2017 05:58 PM PST
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| Posted: 18 Dec 2017 02:36 AM PST
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| Throwback to that time Ether flash-crashed on GDAX to $0.10 Posted: 17 Dec 2017 02:36 PM PST
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| Financial Modeling for Cryptocurrencies: The spreadsheet that got me my first 1,000% gain Posted: 17 Dec 2017 01:32 PM PST TL;DR: I created a spreadsheet that automates pulling trending cryptocurrencies, recent tweets, and bullish/bearish sentiment into Google Sheets. You can find it here: https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy I know some crypto users prefer to work in spreadsheets (including myself) so I created a spreadsheet that looks at trending symbols and estimates bullish/bearish sentiment. I never had the time to develop software engineering skills, but the recent launch of a few add-ins has allowed regular joes like myself to harness the power of APIs. The Beauty of Sentiment TradingAccording to Google Trends, the word "sentiment analysis" has been gaining steady traction over the past 5 years. Sentiment refers to the attitude expressed by an individual regarding a certain topic. This is especially relevant in trading, where so much of the change in price is dictated by emotions: When it is applied to trading, sentiment can be used (with great potential windfall) as a directional signal to figure out whether you should enter a crypto position within your portfolio. A way you can utilize sentiment when trading crypto, is to measure the positivity or negativity of a tweet. If recent tweets have been overwhelmingly bullish (aka, the person expects the crypto rise) and movement is beginning to happen in the currency, chances are good that the trend will continue. Luckily for you, StockTwits already does this with around 225 different cryptocurrencies. And if you can combine the sentiment with trending cryptocurrencies, you can catch the wave right as it forms. Services Used:
Full disclosure: The google sheets add-in is a 14-day free trial, and $15 per month after. However, no one should be refused access on the basis of money (especially true for students and less fortunate). Send me a message, and I will make sure you are not left in the dark. A note on securityUsers have expressed hesitation about running a google sheets add-in on their main computer, so I will attempt to ease those concerns:
What it pulls:
AN OVERVIEW OF THE SECTIONSHow to use the spreadsheet to spot trending cryptocurrenciesYou will spend most of your time in the "Analysis" tab, where the trending cryptocurrencies reside. I am almost always looking at the "By Hour" timeframe, as the "By Day" and "By Week" is usually a missed opportunity…however, those time frames can still be very useful (albeit, for different reasons). You want to ride the wave on a cryptocurrency under one or both of the following conditions:
Getting the spreadsheet to work for you1. Install the Spreadstreet add-in for Google Sheets
2. Get sheet ready for use with the add-in
3. After logging into the add-in, refresh the sheet
Troubleshooting
Some trending coins are not pulling correctly…what's going on? StockTwits has a list of ~225 coins it currently supports. See the "TweetInfo" tab for the full list. I have tried logging in, activating the template with "Use in this document" and refreshed the sheet…still nothing. Head to the "Data" tab. Delete the formula in cell A1, and repaste the following: =SS("tickers-coinmarketcap", headers, "0", Currency) Hoping this is something that is useful to everyone, and I am more than happy to help peeps setup the sheet so they can use it. Just send me a message on here. Original Medium article can be found here: https://medium.com/@spreadstreet/financial-modeling-for-cryptocurrencies-the-spreadsheet-that-got-me-my-first-1-000-gain-f4d0d1a6e5ed RESOURCESDownload the spreadsheet: https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy Download the add-in: https://spreadstreet.io/tools/google-sheets-add-in Help: https://spreadstreet.io/docs First time install and login: https://www.youtube.com/watch?v=aLjtPR4T2bg Bitfinex Candles endpoint help: https://spreadstreet.io/knowledge-base/bitfinex-api-candles-endpoint/ RELATED POSTSTop 12 Cryptocurrencies Ranked by Risk-Adjusted Return 10 Statistical Price Predictions for 10 Cryptocurrencies Bitcoin Madness: How to Simulate Bitcoin Prices in Google Sheets ABOUT THE AUTHORJohn Young is the founder of Spreadstreet.io, former Financial Analyst for a big-ass company, and runner-up in the 6th grade spelling bee. He would have invested in Google if he knew about it...and had any money. He is the author of the Spreadstreet blog, which has over 3 readers (not a typo). He hopes to hit 10, but honestly writing is a lot of work. [link] [comments]  | ||
| Power Ledger Signs Agreement With BCPG To Bring Distributed Renewable Energy Trading To Thailand! Posted: 17 Dec 2017 10:30 PM PST
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| Suddenly Everyone Is An Expert … Posted: 17 Dec 2017 08:26 PM PST Let my start by saying I am no crypto expert. I have started a few companies and raised money from venture capitalists. I have seen how institutional investors approach evaluating a new investment opportunity and the level to which they scrutinize every deal they look at. Most VCs I have pitched asked to see the following: pitch deck, models, projections, marketing plans, financials, hiring plans, and product demo. The ones who decided to invest asked for even more: background checks, legal disclosures, IP disclosures, company reps, etc. This is apparently very different than the crypto space, where all you need to be a trusted analyst is YouTube account and Coingy access. Having seen what deal diligence looks like first hand, I cringe when I see videos of people recommending this or that crypto because it is a great idea (great ideas are a dime a dozen) or because Vitalik Buterin is an advisor (he seems to be an advisor to half of the market) or because one of the founders used to work at Kraken or Coinbase (who cares?) or because its value is only 1/5 of another crypto trying to do the same thing (irrelevant) or because some lines on a graph look like a tea cup or waves (or Jesus, for that matter). To those of you sharing advice, secrets, prophecies, or whatever: please be honest and disclose what your experience is in the space first. Why should you be trusted? Don't just tell us what picks you guessed right, but tell us the ones you got wrong. Don't position yourself as an expert in something if you are not, especially if people may invest their money into something because of you. I have no idea what will happen in this space, which companies, platforms, and currencies will survive. I don't think anyone does at this point. But let's not all fool ourselves into thinking we are able to guess the winners based on a few unimportant bits of information. If that is your personal strategy, you may want to think twice about posting your advice as a professional just to increase your subscriber/follower count or to shill the coins you own. [link] [comments]  | ||
| TFW Its midnight, but your cards are STILL MININ', ///goodnight\\\ Posted: 17 Dec 2017 10:06 PM PST
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| Posted: 17 Dec 2017 09:18 PM PST | ||
| Great article about Request Network and it's future with IoT Posted: 17 Dec 2017 03:27 PM PST
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| Power Ledger Signs Agreement With BCPG To Bring Distributed Renewable Energy Trading To Thailand! Posted: 17 Dec 2017 10:14 PM PST
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| I do own Iota, and I'm also really hyped on Raiblocks. Here's why Posted: 18 Dec 2017 01:31 AM PST Look, regardless of how strongly you believe in Iota, I hope one day you'll realise that It isn't the currency that you would use to purchase coffees. Raiblocks would be what you use. Iota will, however, take care of charging your Tesla wirelessly, paying for the parking fee and reading traffic information while you enjoy that hot cup of coffee. They serve different purposes. I have been following Iota from Day 1 and the team has always been very clear about their long term project that'll truly explode in the age of IoT. Some of us here might see that as a distant time in the future, well guess what that was the same consensus towards Bitcoin back in 2009/2010. Everybody heard about Bitcoin, but no one gave a flying fuck. I don't believe in one universal cryptocurrency, I believe in feeless transactions. I believe in high transaction speed and I believe in scalability. And I think you should too. I would recommend everyone here to try transacting Raiblocks just to get a feel of what the future will be, or supposed to be. I bought mine on Bitgrail, the registration literally took 2 minutes. The website is simple and extremely easy to use. They also don't charge anything for XRB withdrawal (staring at Bitfinex), which btw took less than 10 seconds to arrive in the wallet. Make a few wallets to bounce your XRB between them and see what cryptocurrency was truly meant to be. Feel that speed, feel that feelessness. This is the future. [link] [comments]  | ||
| Fear the volatility of alts, not the CME/CBOT Posted: 17 Dec 2017 10:58 PM PST I think one of the most frustrating comments I commonly see is "whatever if BTC tanks.. just diversify into alts". The fact is that alt-coins rise with bitcoin and fall with bitcoin. The thing is, it's actually shocking how correlated alts are with each other. I want to show:
Here, I've taken 6 fairly popular alts, and plotted the 30 day rolling correlation of their returns with Bitcoin. Also, I plot the 'mean correlation' in orange, which is the average of all 6 cryptos' correlations, and finally I've plot the 'Alpha' (the intercept, a, for y = a * x + b, where x is the return of BTCUSD and y is the return of the instrument). I think it's pretty obvious that:
This has strong implications for risk management, because during periods of high volatility, the beta, or systemic correlated risk, is very high. One reasonable theory is that when volatility is high, the entire market trades on sentiment, buying all cryptos as bitcoin goes up, and selling all cryptos as bitcoin goes down. It also has strong implications for those of us seeking a safe haven in case of a crash. So far we haven't seen a serious bear market after the great proliferation of alts in 2016 - 2017. There were few alts during the great bear market of 2014, and most of ones that were around were extremely illiquid back then. Therefore, I posit two hypotheses: (1) alts will see a massive drop when Bitcoin drops, even more than a regular leveraged position in BTC, and (2) This will have the same effect as a debt crisis. I believe the psychology of #2 will work like this: A lot of people are putting a ton of money into Bitcoin, and now with the bull run of alts, they are seeking greater returns. People know that alts are more risky, but they are mis-calculating the risk, because they think alts will be a safe-haven when Bitcoin crashes. The math and FOMO reinforce the feeling that alts gain more when bitcoin goes up, and they provide some de-correlated returns when bitcoin crashes. But I believe when we have the big crash, de-correlation will turn into just even larger dumps for alts. For fundamental traders / long time holders, I think the most important number these days to look at is the float, or the number of outstanding coins actually hitting the market for any alt-coin. We already know pre-mine is a market diversity problem, because one big original holder can dump a lot. However, coins like BCH also have a serious problem because of the small float. "Circulating Supply" is very deceiving. What percentage of BCH haven't been moved at all from their pre-fork address? This smaller pool of traded coins just means that when the market tanks, the illiquid, lightly traded, and low-float coins are at higher risk for an overall risk-off period. It's extra frightening when you look at the market cap of extremely new / vaporware coins. There's no way that new money will be able to stomach a 95% drop in a new alt-coin when the FUD returns. Of course, nobody knows when the music will stop, so for now, risk on. [link] [comments]  | ||
| This emoji pisses me off. Increase icon is colored red and decrease icon is colored blue. Posted: 17 Dec 2017 05:20 PM PST
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| Huobi.Pro adds Vechain : a little snack before the Major listing Posted: 17 Dec 2017 10:52 PM PST
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| Ark getting on more articles, good exposure. Ark article front page at discover.coinsquare.com atm Posted: 17 Dec 2017 11:23 PM PST
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| Just finished making my Christmas presents. Posted: 17 Dec 2017 12:33 PM PST
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| Posted: 17 Dec 2017 07:48 PM PST
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| Posted: 17 Dec 2017 07:37 PM PST
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| Waltonchain meets with Vice Minister Guo and Director Liu Posted: 17 Dec 2017 07:16 PM PST
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| Stellar Lumens Article in Forbes Posted: 17 Dec 2017 11:47 AM PST
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| Posted: 17 Dec 2017 09:26 PM PST
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| Posted: 17 Dec 2017 10:03 PM PST | ||
| NEO Price Reaches a new All-time High of $74.6 Posted: 18 Dec 2017 02:58 AM PST
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| Monero Multisignature just got merged Posted: 17 Dec 2017 12:12 PM PST
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![TFW Its midnight, but your cards are STILL MININ', ///goodnight\\\](https://b.thumbs.redditmedia.com/aM4V0Git9JBMLCNzLCx3LpztoiThB0655sQGwXzpRUU.jpg "TFW Its midnight, but your cards are STILL MININ', ///goodnight\\\")
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