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    [Daily Discussion] Sunday, January 28, 2018 Bitcoin Markets

    January 28, 2018

    [Daily Discussion] Sunday, January 28, 2018 Bitcoin Markets

    [Daily Discussion] Sunday, January 28, 2018

    Posted: 27 Jan 2018 08:05 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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Koreans Can Finally Make New Accounts and Deposit New Funds Into Exchanges Beginning Tomorrow!

    Posted: 28 Jan 2018 04:20 AM PST

    https://steemit.com/bitcoin/@jnem/is-korean-crypto-returning-to-normal-the-return-of-crypto-and-the-kimchi-premium

    Overview on what is going on in Korea and the process with how Koreans will now have to make bank accounts for Crypto Trading.

    submitted by /u/jnembit
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    USDT exists in real life it's called EuroDollars

    Posted: 28 Jan 2018 06:45 AM PST

    "Eurodollars are time deposits denominated in U.S. dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve. Consequently, such deposits are subject to much less regulation than similar deposits within the U.S.. The term was originally coined for U.S. dollars in European banks, but it expanded over the years to its present definition—a U.S. dollar-denominated deposit in Tokyo or Beijing would be likewise deemed a Eurodollar deposit. There is no connection with the euro currency or the eurozone."

    https://en.wikipedia.org/wiki/Eurodollar

    This hedge fund manager on his podcast explains why he thinks EuroDollar system caused the global financial crisis:

    https://www.macrovoices.com/300-jeffrey-snider-eurodollar-university-part-1

    The "Eurodollar University" podcast is several hours long but absolutely incredible, lots of plebs on reddit but for the people who like to use their brains and learn things, check this out, it's amazing.

    submitted by /u/lead-by-example
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    Tether/USD has crashed 11% since Friedman breakup confirmed

    Posted: 27 Jan 2018 10:57 PM PST

    Kraken's USD/USDT pair has dropped from recent high of $1.08 down as low as $0.93 USD overnight. It since rebounded back to $0.98 USD/USDT (EDIT: as of 9am PST), boosted primarily by arbitrage bots trading the spread between tether & fiat exchanges; for instance, GDAX was trailing BitFinex/Binance by as much as $600 overnight.

    This is what's driving BTC prices over $12,000 on Tether exchanges (BFX, Polo, Bittrex, Binance, et. all) and predictably fiat exchanges have followed due to arbitrage bots operating on the 1:1 peg assumption. However the BTC/USD pairs face strong resistance at $11,800 and it remains to be seen if this pump will be sufficient to break that level, or whether the fiat exchanges will reverse and break from Tether. Interesting times.

    submitted by /u/returnity
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    Breaking: Tether has "dissolved" relationship with auditor Friedman LLP, according to spokesperson for the company behind $USDT token. Story to come.

    Posted: 27 Jan 2018 03:43 PM PST

    Poloniex, Bittrex, and Binance -- All have same owners?

    Posted: 28 Jan 2018 04:19 AM PST

    The bitfinex wallet has been receiving lots of USDT as people try to cash-in their tether. I noticed something strange: This is 1 address that is sending to the bitfinex wallet: http://omniexplorer.info/lookupadd.aspx?address=1MZAayfFJ9Kki2csoYjFVRKHFFSkdoMLtX

    You will notice that there are several addresses that are sending to this address. For example:

    1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru -- Owned by Bittrex

    1Po1oWkD2LmodfkBYiAktwh76vkF93LKnh --- Owned by poloniex

    1FoWyxwPXuj4C6abqwhjDWdz6D4PZgYRjA -- Owned by binance

    I went back 20 pages and each of those three exchanges send to that address and only those 3 exchanges it seems.

    In other words, those 3 exchanges seem to have the same "deposit address" on bitfinex.

    submitted by /u/GettingGains
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    GDAX = $11,585. BITFINEX = $11,980.

    Posted: 27 Jan 2018 10:25 PM PST

    Over $400 difference now between GDAX and Bitfinex. Is this good or bad or doesn't matter? I'm nervous but I do think the end of Tether will be good short term for Bitcoin.

    Lots of traders holding Tether on exchanges. If Tether starts to fail, then all these hundreds of millions will be poured into crypto and probably Bitcoin if these funds are suppose to be the least risk adversed funds.

    Thoughts?

    submitted by /u/MondayDash
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    How can one manipulate the bitcoin market?

    Posted: 28 Jan 2018 03:14 AM PST

    I'm asking for a friend........just kidding, it's obvious you would have to own an absolute shed load of BTC to do this which I don't. But the recent nose dive surely indicates that there has been some fuckery happening in the crypto world.

    I was wondering how the mechanisms of manipulation work and what volume would 1 person or a group of people need in order to drive the price down?

    submitted by /u/KrisBkh
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    Kraken - Insufficient Margin

    Posted: 28 Jan 2018 07:58 AM PST

    "I check my charts, a clear up move is on the horizon. I wait patiently for the right candle formation to get in on the move. Looks like this is the right spot for a 5x margin long, but after all my work and patience, I get the 'Insufficient Margin' error!"

    Anyone else tired of this?

    Kraken's pool of USD funding to initiate margin long positions has been disastrously small for a long time now. They clearly do not have access to enough USD for some reason (which might worry some people just on its own).

    Some questions for Kraken:

    Where does your USD for margin lending come from? Is this a banking issue? Any intentions or plans to do something about this? Why not implement a similar system to Bitfinex which relies on peer funding?

    submitted by /u/pipN_aint_EZ
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    Tether in the Paradise Papers. Link inside

    Posted: 28 Jan 2018 08:59 AM PST

    https://offshoreleaks.icij.org/nodes/82024464

    What does this mean exactly? I mean to play devil's advocate could it be that they are merely basing tether in the Virgin Islands in order to avoid taxes or does this indicate a planned easy exit when the shit hits the fan?

    Look over this link.. what do you make of it?

    submitted by /u/pineconecandle
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    How much 10 BTC can affect CEX.io market?

    Posted: 28 Jan 2018 04:31 AM PST

    I am a new investor with small (~1000 euro) invested in BTC in cex.io. I noticed that most of the trading is in fractions of BTC. But there is one big guy who buys/sells exactly 10.0000 BTC (probably a bot) !! Given the price of 1BTC is at 9400 now, how much the price of BTC may fall or increase if the guy sells/buys 10 BTC ? The 24 hour volume in CEX.io now is 154.4845 BTC. Is 1000 euro worth to trade against bot with 10 BTC at all? Thanks in advance for any tips/advice.

    submitted by /u/yesilovethis
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    A different Bitfinex/Tether conspiracy theory

    Posted: 28 Jan 2018 04:19 AM PST

    First I'd like to say there is no hard evidence for this theory just a bit of circumstantial evidence that I am shoehorning to fit my narrative. (Like the 2 other theories out there)

    The Theory: FUD is being pushed everytime the bitfinex funding rate falls

    A lot of money is made when the funding rate is high, by users lending and by bitfinex charging 15% fees. So there is a very clear financial incentive to increase that funding rate.

    Below is the funding rate for the last 12 months, I am going to try and link some of the spikes with increased FUD.

    https://imgur.com/mDcLIyz

    April

    Let's start in April 2017, Bitfinex'ed joined twitter and began to post full time about tether and that it was all a house of cards. This was paired with constant posts on many reddit subs, medium posts, steemit articles, etc.

    This built for about a week or 2 until we saw a panic begin, people ended their funding (can take 2 to 60 days) and started to sell their tether into cryptos, driving those prices up on bitfinex. It also left the funding market with less liquidity which causes the rates to skyrocket.

    October

    There was renewed FUD using the BCH fork and bitfinex's decision to stop supporting individual US customers, it began in august but didn't seem to take hold until october nearly a month after the US announcement. People only then began to equate the US service restriction to tether with the contasant help of trolls. This caused bitfinex to issue a clarification around that time.

    Wash trading

    I remember them getting a lot of traction with FUD about wash trading but I can't remember when exactly, the start of December??

    Now

    Friedman LLP removed bitfinex from there list of customers, this was noticed about a week ago but as usual it takes time to build a bit of panic and get some traction with FUD. Expect to see funding rates begin to go up depending on how long they can keep this up.

    Bonus Conspiracy

    This post has been quite pro bitfinex so far, 'it is all FUD bitfinex is fine'. But what if they are in on the FUD. MAybe there reluctance to do an audit is so they can continue to undermined tether so they can keep the lending rate high. 15% of all interest is quite an incentive.

    Other Theories

    As mentioned at the start their are other theories that have as much proof as this one (namely none), so in the spirit of fairness here they are.

    1. Bitfinex/tether is a scam and will eventually collapse leaving USDT and probably any funds on bitfinex worthless.

    2. Bitfinex is a start up company that suddenly found itself worth billions and are trying their best to keep the skies on enough to continue to rack in millions a day in fees. Lack of audits, bad support itc are just growing pains.

    If you pick the correct theory and trade accordingly you will likely make a lot of money, good luck.

    Thanks for reading.

    This is a copy from my Steemit Post

    Advertisement

    My favourite site for trading is Bitmex, as the future contracts allow for lots of arbitage opportunites and the leverage lets me leave most of my stash safe in cold storage. If you don't already use it and would like to sign up, here is a referral link that will get you 10% off fees and rewards me with 10% of the fees you pay, we both win.

    More posts

    If you like this post there will be more like it on my posts page, this account will be dedicated to posting about trading cryptocurrencies and maybe a bit of general stock markets.

    If that sounds good please consider upvoting, following or resteeming. If you are feeling particularly wild you could do all 3.

    Disclaimer

    Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.

    submitted by /u/kilmarta
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    Does anyone know how to trade btcshorts/longs I see people posting their strategies on trading view.

    Posted: 28 Jan 2018 07:59 AM PST

    Look up there charts and you can tell they are Fucking lit! So how do I trade it? Bitfinex is the provider. I have an account. But I can't see anything with trading the shorts and the longs

    submitted by /u/jwarnyc
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    Bitmex - Liquidation vs. Mark Price

    Posted: 28 Jan 2018 02:25 AM PST

    As I understand, liquidation occurs when the price passes the mark price. However, often times (say when you're doing a long), you can't purchase at the mark price, but rather the index price, since the index price can differ by an amount. Regardless of the leverage you take, the liquidation price will be higher than what is needed to be if the index price is, say, 100 dollars higher. How does this make sense?

    TL;DR If the mark price is 100 dollars lower (such as right now), does this mean that by doing an order at 100x leverage for example, the price is effectively already -1% and would thus cause you to liquidate immediately?

    submitted by /u/eth_trader_12
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    How Tether Discounts Drive Rallys

    Posted: 27 Jan 2018 10:08 PM PST

    When Tether starts trading at a discount to USD, it is not obvious what is happening on the USDT/crypto markets. The assumption is that 1 USDT = $1 and therefore the crypto asset must be appreciating. This "increase" in crypto price is interpreted as market-leading. The actual USD markets are then pumped to catch up to the "leading" USDT markets. The USDT markets, in turn, are pumped further to price in the USDT discount (crypto asset premium). The cycle repeats. Matters are made worse by the USDT=USD on Bitfinex, misleading novice traders.

    submitted by /u/coinwatchman
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    Verification Issues with Poloniex with non existent support and large funds stuck

    Posted: 27 Jan 2018 10:31 AM PST

    Doing this post to understand if this is an issue others are facing as well since I had a large amount of crypto(6 figures) stuck on Poloniex that with its daily withdrawal limit is going to take me months to complete in Legacy level.

    I have submitted the verification documents multiple times, opened a ticket (#581256) that hasn't been responded to since 1+ month and currently they have a deadline to be posted by Q1 2018 to complete this by.

    I don't understand why this process would take so much long and if this is intentional by Polo since I am providing all the necessary info requested including SSN information and verification documents but they seem to have 0 support or contact info to reassure me that this isn't something of an indication of a more bigger issue with the Exchange.

    submitted by /u/xAlias
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    Wrong trading view macd indicators

    Posted: 27 Jan 2018 11:15 AM PST

    I just opened a pro trading view account but can't seem to get the right macd indicator that other users I know have and similar to the coinigy one.

    I attached what my original macd on tr looks like but I want the other one. I have tried all the other available macd indicators and the one i'm looking for is not available for some reason. Thank you in advance for any help.

    submitted by /u/RedbeardDeaves
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    I hope BTC price doesn't go to low!

    Posted: 27 Jan 2018 07:43 PM PST

    I think it's clear as day at this point...the downtrend will continue. The slow stoch on the 1 week candle has crossed over into oversold territory and MACD is setting up for a death cross - next week's candle (starting Monday) could bring another bloody candle...

    I hope BTC doesn't go to low! :/

    https://www.tradingview.com/chart/BTCUSD/DJwMxGNV-The-1-week-candle-is-bringing-in-a-big-bear/

    submitted by /u/Mnlsnk
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    Income Tax SZN

    Posted: 27 Jan 2018 01:04 PM PST

    Could we see a spike once tax return checks start coming in?

    submitted by /u/careerloser
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