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    [Daily Discussion] Tuesday, January 02, 2018 Bitcoin Markets

    January 02, 2018

    [Daily Discussion] Tuesday, January 02, 2018 Bitcoin Markets

    [Daily Discussion] Tuesday, January 02, 2018

    Posted: 01 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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    [Meta] Exchange issues megathreads

    Posted: 04 Dec 2017 07:31 AM PST

    We created megathreads a while back for specific exchanges to consolidate the rash of complaint threads popping up. Those old ones got archived, so this is the new set of remade ones.

    These are certainly not all exchanges, nor should this indicate exchanges that are particularly problematic. At this point, it's just a list of some of the most popular ones.

    These megathreads should be used to post your issues about exchanges and not in individual threads. This sub is one of few places where traders can get community warnings about exchange issues--withdrawals suddenly not happening, trade engine issues, etc. We welcome reasonably-toned posts to that end. Keep things objective and state your experience with as many details as possible.

    You should take any statements or assertions here about positive or negative experiences with a grain of salt. There have been plenty of shill and smear campaigns for or against many exchanges.

    These are not threads for user-specific support issues, which should be pursued w/ the respective exchanges ticket/help systems.

    Megathreads so far (updated Dec 4 2017):

    More will be created as needed.

    submitted by /u/deb0rk
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    The Dark Markets are voting with their wallets

    Posted: 02 Jan 2018 04:09 AM PST

    Bitcoin survived it's early years because the dark markets used it.

    They're now switching to the private coins:

    https://www.bloomberg.com/news/articles/2018-01-02/criminal-underworld-is-dropping-bitcoin-for-another-currency

    This line in the article was particularly interesting:

    Princeton University researchers recently developed a tool that helps them analyze Zcash transactions at least to some extent -- but they haven't been able to crack monero. And Zcash high-security features can't be used on disposable burner phones, a favorite of criminals eager to stay anonymous.

    Looks like Monero will be the winner in that space.

    As for what this does to bitcoin's prospects - if ordinary merchants like Steam are disabling it and asking people to use fiat instead, and the dark markets are switching to Monero, what is bitcoin's point?

    submitted by /u/teatree
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    BTC market dominance from 87% to 36% in one year. Where will it be on Jan 1, 2019?

    Posted: 01 Jan 2018 07:56 PM PST

    https://coinmarketcap.com/charts/#dominance-percentage

    What is your prediction? I will say 21%. I figure it will drop more slowly now, although could be in the teens. I don't see it going to single digits in the next 12 months.

    But if it loses the #1 spot, that could accelerate the decline.

    submitted by /u/PeaceHere
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    19 years old student, spent my holiday to develop a free desktop client for CoinMarketCap

    Posted: 02 Jan 2018 09:03 AM PST

    Hi guys,

    Paul here, a student who completely fell in love with the tech behind cryptocurrencies. After I read the whitepapers a couple of months ago, I invested in what I considered it had intrinsic value and since then things went well, hence I decided to give back to the community.

    Check out CoinMarketCap for Desktop and track your favourite cryptos much more easily! You can also set to launch it on startup + there are many cool features on the roadmap, such as automated refresh and ability to set notifications when a specific price is hit. Not affiliated with the official website.

    You can download it from here: https://coinmarketcapdesktop.com I will continue to work on the project, as much as my time will allow it, but of course the code is open source and anyone is able to contribute: https://github.com/PaulRBerg/CoinMarketCap-Desktop

    Happy tracking,

    Paul Berg

    submitted by /u/PaulRBerg
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    My road to 1BTC - 10mBTC Challenge

    Posted: 02 Jan 2018 08:21 AM PST

    Hi guys! I've been trading for quite a bit now and wanted to see if I can make my 10mBTC become 1BTC just by trading. My approach would more of a "buy the rumor sell the news" instead of doing too much technical analysis stuff.

    Below is an excerpt of my blog post (as I think it's quite long):

    Intro

    People usually think that in order to start trading Cryptocurrencies they need a large capital. In this series, I'll be doing what I will call a 10 mBTC challenge. The goal of this challenge is to show that you can profit from trading Cryptocurrencies even with a minimum starting investment. I'll be following a set of guidelines while doing this challenge which I'll discuss later.

    Note: Trading cryptocurrency is very risky due to the volatility of the market. Only invest what you can afford to lose.

    Guidelines

    Below are some guidelines that I'll be using in this challenge:

    • The coin or token that I'll invest in must be part of coinmarketcap's top 100.
    • The coin or token that I'll invest in must be in coinmarketcal's list of events.
    • Bittrex will be the only trading platform that I will use. Optional trading platforms will be suggested.
    • A shared google sheet will keep track of all my buy and sell orders.
    • Screenshots from Blockfolio and Bittrex will be shared in blog posts to show updates.
    • At least one trade per week will be done.

    I'll be doing updates on my progress in my blog and hopefully some of you guys can provide some feedback or just moral support on what I'm doing.

    Thanks and happy trading! :)

    submitted by /u/sraelgaiznaer
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    Your Daily Moon Math - 2018-01-02

    Posted: 02 Jan 2018 09:04 AM PST

    Go to http://MoonMath.Win for Bitcoin Rainbow charts and the full Moon Math table.

    There will be another update today after the closing price comes in. I'll let you know when that happens in the daily thread.

    Lately, the culture around here seems to be improving. We're seeing new familiar faces and shit posters are getting called out for shit posting. This sub requires that community members police it a little. Good citizens are looking for analysis, perspective, and thought. Our sub suffers when we fill up the daily with memes, reposts, or other low effort content.

    Seeing a lot of cross pollination with other CCs recently. That's been frowned on more in the past, but there's beginning to be a predictable relationship forming. There does seem to be a pattern that we can observe in the relationship between our sub and the broader crypto market. Here's a list of things I'm observing around that line of speculation:

    • Number of daily comments drops
    • Quality of submissions as a percentage of total seems to go up
    • More users are called out for low effort content
    • Reports of selling at a loss increase
    • Alt markets over-perform
    • BTC/USD stabilizes
    • Alt bubble debated
    • Alts push profit into BTC
    • Alts crash
    • 7-day CDPR surges above the 2017 column
    • BTC Moon bubble debated
    • Number of daily comments surges
    • Shit posting peaks
    • BTC price retraces to some moderate fib level
    • BTC obituaries
    • Alt shilling peaks
    • Repeat

    Variations of this cycle get pointed out regularly in our daily. Currently, we're waiting on sustained price stability from USD/BTC. Meanwhile, the alt crash is beginning to unfold as bag holders in those assets line up. Alt markets should be looking to sell into BTC now. BTC holders should absolutely stay clear of the alt market.

    Principles:

    • Buy where the price is low
    • Sell where the price is high
    • Do not trust your emotions
    • Follow your plan

    Good hunting.

    Go to http://moonmath.win for the full update and rainbow charts

    Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
    Starting Price USD $13,917.03 $10,895.01 $7,030.00 $4,320.09 $997.69 $434.46 $313.92 $770.44 $13.30 $5.27 $0.30 $0.09
    Compounding Daily Periodic Rate -0.53% 0.70% 1.08% 1.27% 0.71% 0.47% 0.34% 0.20% 0.38% 0.36% 0.42% 0.44%
    Over $20,000.00 on Never!!! 2018-02-27 2018-02-06 2018-01-31 2018-02-24 2018-03-25 2018-04-25 2018-07-22 2018-04-12 2018-04-18 2018-03-31 2018-03-26
    Over $31,622.78 on Never!!! 2018-05-04 2018-03-20 2018-03-09 2018-04-29 2018-06-30 2018-09-06 2019-03-13 2018-08-11 2018-08-24 2018-07-19 2018-07-08
    Over $100,000.00 on Never!!! 2018-10-16 2018-07-05 2018-06-08 2018-10-07 2019-03-02 2019-08-07 2020-10-21 2019-06-10 2019-07-11 2019-04-19 2019-03-27
    Over $1,000,000.00 on Never!!! 2019-09-13 2019-02-03 2018-12-06 2019-08-26 2020-07-04 2021-06-08 2024-01-11 2021-02-06 2021-04-14 2020-10-19 2020-08-31
    /u/nannal 's A+ on NEVER!!! 2019-03-14 2018-09-05 2018-07-25 2019-02-26 2020-03-05 NEVER!!! NEVER!!! NEVER!!! NEVER!!! 2020-08-31 2020-06-11

    http://moonmath.win

    submitted by /u/jarederaj
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    Kraken's big December 'upgrade'

    Posted: 02 Jan 2018 03:12 AM PST

    Kraken is as bad as ever as I type this on January 2, 2018.

    Would anyone say otherwise?

    How do these clowns get away with this and still remain a major exchange?

    Remove them from the header.

    https://np.reddit.com/r/BitcoinMarkets/comments/7eboh7/suggestion_remove_kraken_from_the_header_ticker/dq4egbk/

    This is disgusting.

    submitted by /u/arganam
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    We Built A Better Version Of Coinmarketcap! Feedback? :D

    Posted: 02 Jan 2018 05:11 AM PST

    Yo guys, we've built a real-time crypto price index, where you can track your portfolio, customise the UI and there's no 3rd party ads!

    https://www.livecoinwatch.com/

    Feedback would be awesome! :D

    submitted by /u/Ithurtsbad822
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    Do you imagine that the Bitcoin market would dip similar to the stock market?

    Posted: 02 Jan 2018 06:04 AM PST

    In 2013, the Associated Press's twitter was hacked and tweeted out that two explosions at the White House had injured the then-president, Barack Obama. However, before they could rush to retract it, the stock market dropped by one percent. In four minutes, the stock market dropped quite far. Given this, I am wondering if the bitcoin prices could react in a similar way to things being affected in the real world. For example, what would happen to it if a terrorist attack occurs? Does it drop? The only information I can find about bitcoin dropping is that of it when it is about the infrastructure of the website and people being annoyed at really high transaction fees.

    Given this possibility, how do people plan for cryptocurrency dips when it is almost unexpected? Unless you are able to have a bot that can quickly sell the coins at the split second that something happens.

    With a bot that uses social media and follows the mainstream news, wouldn't that bot be able to see an issue similar to this (let's say a world leader being attacked) and quickly sell the coins/buy the stock that it knows it needs to to be able to stay afloat?

    The only reason I say this is because I recently had a thread where someone mentioned a bot similiar to this and he said; "Think of it like Deep Blue or one of those chess computers that can beat the world champions. Both learn from past data and real-time data. So while the chess bot is looking at how the rook movement is similar to a move from forty years ago, the Vega system is looking at past currency prices and comparing them to real-time data, seeing what is the best for its user." Do you think there is any merit in this kind of bot?

    Apart from that, would you say that the market price dips similar to the stock market or does it act independently?

    submitted by /u/NuclearCorpus
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    2017 Taxes - How should I account for crypto I lost from transaction fees when withdrawing/depositing across exchanges and wallets?

    Posted: 01 Jan 2018 02:27 PM PST

    My trend lines keep pointing towards a potential bull run around late Jan5 or Jan6.

    Posted: 01 Jan 2018 06:22 PM PST

    Started with a Nov12 uptrend and a Dec17 downtrend. Curious if anyone else is in the same ball park.

    submitted by /u/etgarr
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    Will BCH replace BTC in 2018?

    Posted: 02 Jan 2018 10:02 AM PST

    At this rate it looks like it has a shot, why do I keep selling my Bitcoin Gold, Bitcoin Cash, Bitcoin... so early.

    submitted by /u/Bittrexed
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    Bitcoin altcoin adoption in Scotland

    Posted: 02 Jan 2018 09:51 AM PST

    Is crypto big in Scotland?

    submitted by /u/outpost5
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    New BCH pump

    Posted: 02 Jan 2018 09:29 AM PST

    It appears the BCH crowd is beginning a fresh pump today. BCH is surging for no apparent reason and the Bitcoin Mempool is once again being flooded with cheap transactions.

    submitted by /u/Bharatsatoshi
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    Overview of 2017's intermediary corrections

    Posted: 02 Jan 2018 12:55 AM PST

    GUYS BITCOIN PLUNGED 12% THE PAST WEEK SELL SELL SELL

    Posted: 02 Jan 2018 09:55 AM PST

    Best exchange for biggest portfolio and easiest interface

    Posted: 01 Jan 2018 12:33 PM PST

    I'm invested in BCH, LTC, ETH, XRP, and XLM; Can someone help guide me on how to buy the rarer coins like Steem, Tron, Golem, Raiblocks, IOTA, etc without going through too many hoops?

    like buy eth on coinbase -> binance, sell eth for (xcoin) ..??
    (thats how I got my ripple and lumens but I dont really like binance.

    I'm using Kraken, but that is slow as hell, and Poloniex I like but I only use it to watch market transactions. Binance seems to have the most options but I don't like how its purely trading and the platform is a little confusing to me.

    Also are those coins worth it? I finally realized I need to research what these companies are doing and those seem like top companies. Anyone have other suggestions that arent 'meme' coins like DogeCoin..... or 'another ledger with no transaction fees and its crypto/not crypto!' like

    Also can anyone confirm Litecoin is being adopted by facebook, Stellar Lumen is backed by IBM for quantum computing tranfers, Ripple is supposedly being adopted by big banks (dont care); Steem or Gamercredits may turn into a functional currency; I read that TRON is suppose to make huge gains in 2018 too, but same with things like IOTA being backed by a ton of companies.

    submitted by /u/Sgt-Zest
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    Bitcoin being pushed down by Altcoin profits?

    Posted: 01 Jan 2018 05:49 PM PST

    This might be obvious or an overly simplistic analysis but I would like others take on it and what could end up changing things.

    The past couple of weeks we have seen bitcoin not being able to compete with the gains that it seems like 80% of all altcoins are having atm. Just looking at the 6H time window on Binance it looks like 80% of allcoins have been going up 100% - 400% since bitcoins high.

    So you have to assume that a lot of people who are investing in altcoins are making huge profits resulting in many of them cashing out large amounts. The obvious way to do that is through the exchanges that accept FIAT withdrawals like Coinbase, Kraken etc. So people ends up selling their altcoins for bitcoins, sending them to Coinbase and selling their Bitcoin for FIAT pushing bitcoin further down, and as long as Altcoins are seeing massive gains people will keep buying and switching their bitcoins for altcoins which prevents the altcoins from more or less plummeting while bitcoin struggles to keep up.

    What likely has to happen to change this is for Bitcoin to begin a bull run to the point where the btc/altcoin ratio starts going down probably more than 10% resulting in people finally switching their altcoins for bitcoin making them more cautious throwing everything into altcoins. Right now that seems unlikely and I can't see what would really kickstart it unless Bitcoin would receive some really great news whatever that would be...

    Reasonable assumption or am I way off?

    submitted by /u/Makylias
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    Similarities between to the 2008 Dow Jones crash and current pattern of Bitcoin a technical analysis

    Posted: 01 Jan 2018 10:46 PM PST

    Hi everyone, below is a compilation of technical analysis of a very clear head and shoulder pattern showing a clear indication of a crash, very similar to the one I remember in 2008.

    Head and Shoulders definition:

    In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.

    Source: https://www.investopedia.com/terms/h/head-shoulders.asp

    Technical Analysis

    Head and shoulder (2008 crash): https://imgur.com/Tq1FMpC

    Head and shoulder (Bitcoin): https://imgur.com/XKkl0en

    I also personally noticed a strong descending channel which confirms the direction of the Head and Shoulder going down:https://imgur.com/iaEe370

    submitted by /u/DrixlRey
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    If ever a huge news breaks in...

    Posted: 01 Jan 2018 12:36 PM PST

    If ever a huge news regarding any cryptocurrency breaks in, what media or platform delivers that particular news the fastest?

    Asking this so that we get an early mover's advantage and take decisions accordingly to the news. (Basically we can FOMO first 😛)

    E.g. : Like CB incorporating BCH. Which led to one of the biggest FOMO trading ever.

    submitted by /u/GanpatiBappaMorya
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    I'm finally done with Kraken

    Posted: 01 Jan 2018 10:08 AM PST

    Kraken was my first exchange. I've been using them since 2016, way before it became a shithole of an exchange.

    As many of you know, Kraken became completely unusable when people started to flood into the crypto sphere.

    Like most people, I had to stop using Kraken and switched to other, working exchanges. Recently I heard they upgraded their trading engine and the website is usable again. And oh wonder, no server errors. So I decided to give it another try...

    Today I deposited a few ETH to my account. The status promptly said success but the balance has not been added to my account. Yeah, I will spam their support every day but I already consider those funds lost. My last support ticket from a few months ago still didn't get answered.

    Well, this was the last time. Never gonna use them again.

    A friendly advice for everyone who wants to keep their money: Stay away from this crippled piece of a bug.

    submitted by /u/chescos
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    Addon for Crypto Prices on Binance (firefox and chrome)

    Posted: 01 Jan 2018 02:10 PM PST

    Hi all,

    I slightly updated my addon for prices of crypto currencies on Binance. Also published for Chrome, so go ahead and try it also there. :)

    Firefox: https://addons.mozilla.org/en-US/firefox/addon/crypto-prices-binance/

    Chrome: https://chrome.google.com/webstore/detail/crypto-prices-binance/hjldnpiclhlaomebmfifoffocgabipje

    Addon shows in pop-up window all available crypto coins and their pairs with BTC, ETH, BNB and USD ( calculated from BTC) Through settings you can choose, which coins and pairs would be shown in pop-up window. Additionally it shows also price of BTC, ETH and LTC in USD.

    Addon -> https://imgur.com/vhczDMl Settings window for addon -> https://imgur.com/Lgf0QXX

    I would be glad for all tips and reviews from you people.

    And I wish you all that your coins rise right from the start of the year!

    submitted by /u/passbbi_svk
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