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    Saturday, December 23, 2017

    [Daily Discussion] Saturday, December 23, 2017 Bitcoin Markets

    [Daily Discussion] Saturday, December 23, 2017 Bitcoin Markets


    [Daily Discussion] Saturday, December 23, 2017

    Posted: 22 Dec 2017 08:06 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

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    submitted by /u/AutoModerator
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    Exchanges can use this trick to lower withdrawal fees by 80% - Request your exchange to Batch withdrawals

    Posted: 23 Dec 2017 07:08 AM PST

    What's the history behind the first bitcoin exchange?

    Posted: 23 Dec 2017 06:32 AM PST

    Hey,

    Recently I've found out that the first Bitcoin exchange was "BitcoinMarket.com" (It existed even before the BTC/Pizza deal). But I didn't find any information on it or on any other exchange that started at that time.

    So the question is - How did this first market came to be? How did it start selling bitcoins? How did it get it's user base? Why was it closed? Who started it and why?

    I would be really grateful for any information on this.

    submitted by /u/xord37
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    Bitcoin has "crashed" 6 times during the 2017 but followed by major bull runs. Relax, Zoom out and Don't panic.

    Posted: 22 Dec 2017 02:59 PM PST

    Just some fresh perspective from the real world... (In case you haven't left this echo chamber in a few weeks like I haven't!)

    Posted: 23 Dec 2017 12:01 AM PST

    So I went to a Christmas Party this evening.

    Filled with friends and family whom I mostly knew.

    And to my utter astonishment... despite Bitcoin's meteoric rise over the past 8 months, and it's dramatic fall over the past 48 hours... which I have followed almost every minute of...

    Not a single person at this party of 50+ people even made a mention to Bitcoin or crypto currencies or anything of the sort!

    I managed to strikeup somewhat of a conversation around Crypto in general with a guy who is "in finance"... but he knew relatively little other than it had exploded in value and barely works as advertised so he was sceptical.

    That was it.

    I was blown away.

    Am I crazy? Are they? Or is it a little bit in between?

    submitted by /u/grumpyThrifter
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    New to crypto trading. Tips and advice?

    Posted: 23 Dec 2017 09:15 AM PST

    Hi all. I've dabbled in forex in past years, and I'm finally back in a position where I have a little spending money again. I'm going to play around with some crypto trading this time. I signed up to BitMEX, which seems to be reputable.

    Any tips or advice for a novice is greatly appreciated. Apologies if this kind of thing gets posted a lot. I tried to search for similar posts but Reddit's search is just useless.

    One question to start with: what's up with the variance between exchanges? In forex I'm not used to seeing a variance of more than a few pips. Right now I can see a $1000 difference between Bitfinex and Coinbase. Is that normal? If so, why aren't people arbitraging the shit out of this? The current cost of transactions?

    submitted by /u/Gareth321
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    The SEC's crackdown on cryptocurrencies is about to get serious, former chairman says

    Posted: 22 Dec 2017 10:10 PM PST

    Transaction stuck.

    Posted: 23 Dec 2017 05:44 AM PST

    sent a transaction a couple of days earlier for 0.03671818 and put the fee way too low at 0.00112500. I immediatly realized my mistake and figured i was gonna be waiting for a while, but after three days it shows no sign of coming through. What has happend here? did i lose the money? is it just stuck in limbo forever? ive read stuff about a transaction getting "rejected" en refunded to the wallet after a set amount of time of not confirming hoping this is true. I was sending BTC from electrum wallet to Bittrex. thanks for reading

    submitted by /u/161419
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    Can you share your profit taking strategy here?

    Posted: 22 Dec 2017 07:17 PM PST

    After having some real nice profits and losing most of them during this dip ( due to panick selling, buying again etc) i now realize the importance of profit taking.. In stock investment is actually real simple, 4% is "the golden rule" obviously this doesnt apply to crypto. Do you have a plan for this?

    submitted by /u/cryptocraze_0
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    What's up Polo? Have you turned into a fucking scam!

    Posted: 23 Dec 2017 01:25 AM PST

    Wallets and Exchanges can use Segwit to save 50% of TX fees!

    Posted: 23 Dec 2017 07:20 AM PST

    Contact your wallet and exchange, send them an email, request Segwit.

    submitted by /u/_RME_
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    GDAx ‘other’ category

    Posted: 23 Dec 2017 02:11 AM PST

    Wish I got a screen grab but loaded gDAx and bitcoin cash was below litecoin under a new category other. Wonder if it was a bug or a sign of things to come....

    submitted by /u/strangeneon
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    Do you recommend bitfinex?

    Posted: 23 Dec 2017 10:04 AM PST

    I am tired of GDAX and Coinbase in general, not because the BCH bs, but because of more stuff (pending shite, customer support, etc). I actually use Bitpanda (I am in Europe) and I also checked out Bitstamp. But I prefer a more GDAX interface, and that is when I saw Bitfinex, but I don't know if it is good or not or it is f up. Would you recommend it? Alternatives (with GDAX interface and "market actual price"? Thanks! :)

    submitted by /u/DanielBarragues
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    Issuing futures contracts will always be a short position

    Posted: 23 Dec 2017 10:02 AM PST

    Because bitcoin can be stored at no cost, there will never be a time where a long position is best expressed as a contract because you can just buy the bitcoin now and hold it. There may be a slight premium on contracts if there is a convenience factor to it, so in theory it could be a little above spot price, but it would be a relatively small amount and this would be a rare occurrence.

    People were laughing about the ideas of companies shorting bitcoin, but that is exactly what the companies that issue the contracts are doing. Granted, it's not by much, but it is technically the only type of trade that can be done on futures contracts.

    By the way, if you are planning on buying and hodling BTC and under no condition will sell, you might as well buy the futures then take the proceeds to buy BTC when they expire. This way you will 100% always be buying at a discount (the only obligation is you need to hold the position for a month, which you are already doing).

    submitted by /u/out_caste
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    [AskBitcoinMarkets] Those of you who sell during a panic like today's, why?

    Posted: 22 Dec 2017 03:31 PM PST

    There are three types of Bitcoin owners:

    Those who got in very early ($0-$1000)

    Those who got in before November 2017

    Those who got in above $10k

    I consider each group individually and ask why would they sell during a panic? There really isn't a reason if you got into crypto with the right mindset.

    I actually bought mine at an ATH this summer, it subsequently crashed but is up like 650 percent even after crashing multiple times. immediately after I bought it went down ~ 40 percent and held there for a couple of months. Sure, it would be up 900 percent of I bought a week later, but that's when you average down if you have the means. Unlike many investments, the crypto charts speak for themselves. Chill out

    submitted by /u/Timoniel_Shinjo
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    Your Daily Moon Math - 2017-12-22

    Posted: 22 Dec 2017 11:00 AM PST

    Please add your feature requests and bugs to the issue tracker:

    There's a new chart today... well, kind of new. The 2017 trend chart is back!

    For all the doom and gloom, we still seem to be in a good position on the moon math charts. However, the price action we've seen isn't shown in the charts, yet. The closing price there is $16,454.72, and we may yet work our way back up that direction today. As always, the rainbow charts filter out the noise of daily price action and let you focus on the long term trends.

    There are many lessons for noobs today. The biggest lessons are for weak hands who sold the bottom and strong hands who have started accumulating again. Is this the bottom? Will we confirm that the log trend can continue indefinitely? Where does the correction stop and the bull trend resume?

    Are you smart? Yes, you are. You're accumulating again by putting in buy orders at regular intervals that are sustainable long-term. Your goal is to accumulate more BTC, not cash out at a loss. If you were going to sell you've really missed your opportunity. Cut your losses and make a better plan that's financially sustainable.

    Moderate buy recommendation. Feels good to say that again.

    submitted by /u/jarederaj
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    Banks are looking to use artificial intelligence in almost every part of their business: Here's how it can boost profits

    Posted: 23 Dec 2017 03:47 AM PST

    Questions about leveraging on Bitmex. Please explain this to me...

    Posted: 22 Dec 2017 04:08 PM PST

    Hi, I think I understand the basics of leveraging correctly but I'm having troubles understanding the subtleties.

    Thank you for taking the time to read this.

    1) For example, if I long btc at $10000 using x2 leverage with 1 BTC in my account balance. So this means I have to write $20000 and select x2 leverage, my order goes through.

    I get liquidated if the price hits or drops below $5000, ok.

    Firstly I don't understand if the $10000 reference price i'm using is BXBT or XBTUSD as seen here : https://i.imgur.com/bKMfBr9.png

    Because BXBT always seems to be so far away and way higher than XBTUSD, does that mean that any candle that would appear with a huge wick down for example, but closing in the normal price range doesn't affect my position because only BXBT is taken into account by Bitmex and such a drastic price change would not appear there ?

    2) If the price keeps rising and I change my leverage during the rise. Let's say I change it to x100 leverage, this would mean that now my position is only using 200$ from my account and i have 9800$ free to use again to buy more contracts, is that correct ? Since i'm so far off from my liquidation price, this position is now safe (let's say btc price is now at 12000$ or something)

    3) Consequently, if I buy contracts with my 9800$ using x2 leverage again, so typing $19600 and using long x2 again. What would be my new "averaged" position and my new "averaged" liquidation price ? How is that calculated ? Let's say the price is now currently $12000

    What stops me from doing this technique all the way up to when I think btc is at the ath and it's time to close my position ?

    Thanks for any answer, I'm trying to understand this....

    submitted by /u/nakaryle
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    Exchanges: if you could use segwit, batch, and give fee options, that would be nice...

    Posted: 22 Dec 2017 12:23 PM PST

    You're getting used if you don't.

    submitted by /u/Champion4L
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    Has anyone found a mobile portfolio tracker where your portfolio is tracked in BTC?

    Posted: 22 Dec 2017 11:40 PM PST

    All the portfolio tracker apps show your gains/loss in USD or some other currency, but not in BTC. Has anybody found a good one?

    submitted by /u/breyf
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