[Daily Discussion] Monday, January 29, 2018 Bitcoin Markets |
- [Daily Discussion] Monday, January 29, 2018
- Misunderstanding of Korea developments
- Kraken Trading Offline Again?
- Wirex going to become the first full fledged cryptocurrency bank??
- Bitcoin futures sentiment bullish? Can someone explain this article?
- Korean Lawmakers Weigh in on Cryptocurrency Debate
- KodakCoin / KodakOne. Where?
- How to Trade the First Pullback
- BTCC Announces Acquisition and Shift to Focus on International Pool, Wallet, and Exchange Markets
- BTC chart analysis - 4th time a charm
- estonia and cryptocurrency daytrading
- [Meta] Trading and taxes
- Together, we can always win by trading crypto !
| [Daily Discussion] Monday, January 29, 2018 Posted: 28 Jan 2018 08:06 PM PST Thread topics include, but are not limited to:
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| Misunderstanding of Korea developments Posted: 29 Jan 2018 05:11 AM PST I feel like there has been a lot of misinterpretation of the timeline and exact sequence of events in Korea. I see a lot of comments celebrating the return of Korean buyers on January 30th and the lifting of some imaginary ban. I know from personal experience that at least one major exchange has never had any interruption of fiat deposits and as far as I know none of them have. New bank account registrations have been suspended for the last month though. January 30th is when the new Cryptocurrency regulations come into effect and it means all old accounts, both anonymous and linked to real names will no longer be able to deposit fiat to exchanges. However, they will still be able to withdraw. To be able to deposit fiat you have to register a Cryptocurrency account with a certain chosen bank for that exchange. These accounts become available at 9am Korea time Jan 30th. Foreigners both resident and non-resident will not be allowed access to these accounts and they may require proof of income. The migration may take some time and some groups are locked out permanently, on the plus side new investors will be able to deposit fiat once they have registered for one of these new accounts. I hazard a guess at a lack of buying power from Korea over the short term but draw your own conclusions from this information. Please correct me if you have any contrary information to the above. Here is one of the messages from Korbit today on the migration process. "Registration Process for New KRW Deposit Method The new bank verification and KRW deposit method will begin at 09:00 KST on 01/30/2018. In compliance with the regulations, all existing KRW deposit accounts will be terminated at 00:00 KST on 01/30/2018. You will need to register a Shinhan Bank account to be allowed to deposit KRW onto Korbit. When you register a Shinhan Bank account under your legal name, a new KRW deposit number will be issued. To ensure a consistent implementation of the new method, we are inviting you in two cohorts to complete the registration process: Cohort 1 Registration Period: 09:00 KST on 01/30/2018 to 12:00 KST on 02/06/2018 Eligibility: Hold an existing KRW deposit account as of 00:00 KST on 01/30/2018 Cohort 2 Registration Period: From 12:00 KST on 02/06/2018 onwards Eligibility: Do not hold an existing KRW deposit account as of 00:00 KST on 01/30/2018 Even if you are in Cohort 1, you may still register after 12:00 KST on 02/06/2018. However, we would strongly urge you to complete the process before then. You will be able to withdraw KRW to the registered bank withdrawal account after a temporary interruption that ends at 09:00 KST on 01/30/2018. You do not need to register a new verified Shinhan Bank account to withdraw KRW. Please review the following to expedite the registration process: Hold or create a Shinhan Bank account under your legal name. Enable mobile / Internet banking at Shinhan Bank. Ensure that the mobile phone number is the same at Korbit and Shinhan. Those who have already been using a Shinhan Bank account must also follow the procedure to register an account. We will post a more detailed information when the new registration process begins at 09:00 KST on 01/30/2018. Thank you." https://news.bitcoin.com/south-korean-exchange-korbit-stops-serving-international-citizens/ https://news.bitcoin.com/korean-crypto-exchanges-share-data-with-banks-new-account-system/ [link] [comments]  |
| Posted: 29 Jan 2018 07:44 AM PST I have not seen a single trade occur on Kraken.com for 30 minutes now. The website is up and I can login but no trades are happening. Has anyone see trades happen on kraken in the last 30 minutes? [link] [comments]  |
| Wirex going to become the first full fledged cryptocurrency bank?? Posted: 29 Jan 2018 08:36 AM PST https://wirexapp.com/wirex-bank-accounts-almost/ Not saying that this will be a service that I will personally use. But I have to admit, the reason why most people don't like the idea of cryptocurrencies is because most major banks and financial institutions hate it. Now there is a full fledged bank for cryptos, anyone else believe that this could be a major driving force for mass adoption? I personally think that this could increase adoption rate for the general public as this makes crypto's more easy to access. [link] [comments]  |
| Bitcoin futures sentiment bullish? Can someone explain this article? Posted: 29 Jan 2018 08:32 AM PST This article says "leveraged" long position is 1,142 contracts while "leveraged" short position is 518 contracts. All futures are leveraged so no point in saying that word and all futures contracts have to have equal number of longs as shorts don't they? How can you be long a futures contract with an expiration date (the date on which longs and shorts need to settle with one another) and not have equal number shorts to match up with? Logistically, how can you even buy a long futures contract unless someone sells it to you short? I just took at look at the bitcion COT report. http://www.cftc.gov/dea/futures/deacboelf.htm Can't find any 1,142 long or 518 short. Am I missing something or is this fake news? Can somebody please explain? Thanks. [link] [comments]  |
| Korean Lawmakers Weigh in on Cryptocurrency Debate Posted: 29 Jan 2018 07:29 AM PST Legislature Holds Meeting to Discuss Cryptocurrency After various departments of the Moon administration made conflicting announcements regarding cryptocurrency over the past month that have brought confusion and instability to markets, the Korean legislature has decided to move ahead of the administration in creating cryptocurrency related policy. The National Assembly held meetings today, the 29th with the topic of "How Should Cryptocurrencies be Legislated?" These talks included Bareun party leader and former presidential candidate Seongmin Yoo, whose party organized the meeting, with members of various other parties, professors and lawyers in order to facilitate an informative discussion on the topic. It's nice to see that Korean lawmakers are trying to engage in a discussion, and seeing the comments they made, it's good to see that they may actually begin to be educating themselves on cryptocurrencies and a proper path forward. Cryptocurrency Needs A Healthy Market, Not Chaos One of the legislators who participated in these discussions, Taekyung Ha, member of the Bareun Party, stated that "I will strive to create a bill that reflects the people's opinions first and is based on real discussions among academics, industry leaders, and regulators." Representative LeeBae Chae of the People's Party followed with "We need to secure transparency, soundness and stability in order to create a healthy market." He then added "We as the National Assembly should respond without waiting for the government's chaotic policy." Both these statements seem like big improvements over the Moon administration's previous statements on cryptocurrency, some of which were found to have resulted in government officials conducting "insider trading" selling bitcoin and other cryptocurrencies before the government announcements and then buying it back after for a profit. Professor Also Speaks in Favor of Crypto Additionally, professor Hyeon Joong Kim from Korea University Graduate School of Information Studies (the university I attend) had stern remarks for the government and these previously announced regulations. He stated "ICO restrictions are isolationist style policies, and closing [cryptocurrency] exchanges is suicide." He followed this up with "The government should not attempt to control prices, but instead should focus on the protection of investors and regulate unfair and opaque transactions, but not with approaches like bans or closure of exchagnes." Professor Kim is also pushing for cryptocurrencies by calling for government agencies conducting research regarding blockchain technology to simultaneously be looking into cryptocurrencies as an inclusive part of the blockchain. "Having a blockchain without a cryptocurrency is a difficult product to make," adding that "cryptocurrency R&D is blockchain R&D." Is Korea Coming Back to Crypto It is a great sign seeing both legislators and professors, in addition to the Korean people pushing back against unwarranted and uninformed government regulation. It seems that Koreans understand how much of an important player they are and can/will be in this space, and are fighting to make good things happen. Although I believe too much government interference is never a good thing, with healthy and moderate regulation, this can bring more users and people into the market, creating more demand and a more overall stable and growing cryptocurrency environment. As a fun experiment, I think it would be fun to thank these representatives for promoting realistic ideas on cryptocurrency. I've linked their twitters below, so go and tweet at them to show our support! Maybe we'll get an article written about us in Korea that I can report on tomorrow! Taekyung Ha https://twitter.com/taekyungh LeeBae Chae https://twitter.com/cwhej As always, thanks for the 4 minutes. [link] [comments]  |
| Posted: 29 Jan 2018 09:27 AM PST I have a reminder set in my calendar to check out and maybe buy some Kodak shitcoins that they announced some weeks ago. But does anyone know where I can acquire them coming Wednesday? Or isn't the exchange known yet? [link] [comments]  |
| How to Trade the First Pullback Posted: 29 Jan 2018 09:00 AM PST |
| BTCC Announces Acquisition and Shift to Focus on International Pool, Wallet, and Exchange Markets Posted: 29 Jan 2018 04:54 AM PST We're excited to announce that BTCC has been acquired by a Hong Kong-based blockchain investment fund. The acquisition will allow us to aggressively grow our pool (https://bt.cc/p), wallet (https://bt.cc/m), and exchange (https://bt.cc/x) businesses in the international market. Please visit our blog page for more details: https://bt.cc/anewchapter [link] [comments]  |
| BTC chart analysis - 4th time a charm Posted: 28 Jan 2018 12:07 PM PST John Carter made an observation in his book Mastering the Trade of a reoccurring pattern when pivots/support/resistance are tested that it is common for the 4th attempt to succeed which is what happened yesterday. There has been no follow through or enthusiasm on part of investors to celebrate this epic achievement though - lol. We now have an uptrend on the 4h chart to keep an eye on. BTC is consolidating just above the WP (weekly pivot) @ 11,700. If the WP fails, it will be 3 consecutive weeks BTC has failed to close above the WP. [link] [comments]  |
| estonia and cryptocurrency daytrading Posted: 28 Jan 2018 05:09 PM PST hi, is it possible to relocate to estonia and create a company, then to daytrade crypto with this company and benefit from the 20% tax ? any estonia crypto scalper ? is estonia crypto trader friendly thanks [link] [comments]  |
| Posted: 28 Jan 2018 09:07 PM PST I've been meaning to out together (read: have someone else do the hard work) a wiki page of resource for tax reporting on trading activity. For those who have no plan to do so, that's nice, but for those looking to avoid being made an example of by the long dick of the IRS, especially with all that going on at coinbase, this might be useful. There are quite a few informative articles I've glanced through, services like Bitcoin.tax and cointracking, etc. Most of general questions are already well answered in other writeups, but for fine details of process... So, post / link stuff if you want to contribute. Edit: also obviously none of this should constitute actual tax advice, pretty sure almost no one in this thread authoritatively can say anything for sure, and if they did, they'd make their own disclaimer too. [link] [comments]  |
| Together, we can always win by trading crypto ! Posted: 29 Jan 2018 07:54 AM PST The goal of this group is to create a community where we can ALL make money through long duration pumps. Here is how the process will work: First, it's important that you have set up a "cryptopia" account and have deposited the BTC that you wish to invest into the exchange before the pump. Like clockwork, we will release the coin name that we are going to pump here in our telegram channel. At this point, our group will buy into the coin, increasing the value. Don't be surprised to see a 100% jump solely from the volume created by our group, as we plan on pumping low volume coins to maximize our profits. Link to the group : http://shoopimy.fr/discord [link] [comments]  |
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