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    Crypto Currency Markets [r/CryptoMarkets Daily Discussion] - 21/Feb/2018

    February 21, 2018

    Crypto Currency Markets [r/CryptoMarkets Daily Discussion] - 21/Feb/2018

    [r/CryptoMarkets Daily Discussion] - 21/Feb/2018

    Posted: 20 Feb 2018 10:05 PM PST

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    VW announcing cooperation with IOTA foundation at BOSCH Connected World

    Posted: 21 Feb 2018 10:21 AM PST

    Coinmarketcap is BULLSHIT and why this is not a bubble

    Posted: 21 Feb 2018 05:07 PM PST

    The marketcap of the entire crypto market is a complete and total lie. First let's begin with why the marketcap of bitcoin itself is completely inaccurate, and just as a reminder, marketcap is a simple calculation of circulating supply multiplied by the spot price. Here's why that's total bullshit:

    Firstly, you can remove 1 million BTC from the circulating supply right off the top, which is the Satoshi wallet which can never be touched or it will crash the entire market just on the news that it's active. Then, there is an indeterminate number that is very likely very large of coins that were mined very early on in very large numbers and lost forever in wallets that will never be recovered. There are likely at least a couple of million BTC in dead wallets mined by people in the CPU and early GPU days as a novelty that they forgot about or lost for whatever reason. We can probably safely assume that at least 3 million and perhaps upward of 5 to 6 million BTC are lost and irrecoverable for whatever reason. Now again, marketcap is calculated by circulating supply multiplied by the spotprice.

    This presents a problem because BTC has never once in it's life actually been subjected to an organic level of price discovery, it's always been heavily manipulated during a time when the majority of the value of BTC was from mined coins that had never once touched fiat. You might recall the recent MIT study that showed that the price run up from $100 to $2000 was orchestrated by a single individual doing wash trades with himself. The point here is that the current spotprice of BTC is not AT ALL reflective of a fair market evaluation of it's price as a utility, but merely as a speculative instrument and thus the "market cap" is completely and utterly false because any significant movement of BTC volume into fiat will have a disproportionate effect on the "market cap" of the coin, since the order books are far, far, far thinner than anyone actually realizes due to the effects I've enumerated above about the circulating supply and actual volume of coins exposed to fiat being exceptionally lower than anyone generally realizes or acknowledges. Now on to the alt market:

    All of the alts with the exception of Ethereum and to a lesser extent Litecoin are merely doublings of the fiat value of their respective fiat on ramps. However, even Ethereum was only obtainable by purchasing with BTC or mining it for a significant period during early adoption, giving us another example of a thin market that has never actually seen any significant organic price discovery of the underlying asset's utility value. So, we can safely estimate roughly 50%-60% of the circulating supply of ETH has never touched fiat, and upwards of 95%+ of alts have never touched fiat whatsoever.

    Thus, at the very least, 70%-80% of the alt market DOES NOT represent an actual influx of fiat into the market, but a mere artificial doubling of the fiat price of the fiat onramps used to purchase those coins. Meaning, when you buy BTC to buy an alt, fiat value goes into the market raising the "market cap" of BTC, but when you purchase your alt with BTC, the marketcap of BTC doesn't go down to represent a transference of fiat value to that alt, it merely pumps the "market cap" of that alt, artificially doubling the "market cap" of the entire crypto market.

    So, are we in a bubble? Well, I would say no we're not, because this market is absurdly thin compared to the perception of it's value due to the effects described above. The reason this market is so insanely volatile, and the reason there is such a stark crash from such a sharp peak, is that there is in reality likely a mere $60 to $120 billion of actual fiat in the ENTIRE crypto market, and perhaps even less than that depending on the actual circulating supply of BTC, and especially the circulating supply that's actually feasibly exposable to exchanges, even assuming the owner still has access to the wallet.

    It's quite obvious that the marketcap of the entire crypto space is an absurd illusion, and that even 10 years on we haven't even seen a minuscule fraction of a percent of the adoption potential of this technology in the public space. Even at the height of the peak when shills on MSNBC and CNBC were pumping BTC with FOMO sermons, we probably never exceeded even 200 billion in actual market capitalization worldwide, at the very best.

    submitted by /u/Gargonez
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    Volkswagen CDO announces investment in IOTA and calls IOTA Web 3.0 (see 4 minute mark of video)

    Posted: 21 Feb 2018 02:25 PM PST

    You can now get alerts as soon as we generate a new A.I. trade signal on CoinLoop.

    Posted: 21 Feb 2018 08:59 PM PST

    Today I got margin called on kraken

    Posted: 21 Feb 2018 07:57 AM PST

    Feels bad man Should have never discovered the leverage option, 2k Euros gone. Be smarter than me, don't gamble

    submitted by /u/luk400
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    The Potential of Request Network ($REQ) and a Beginner Introduction

    Posted: 21 Feb 2018 01:14 PM PST

    “Should I buy the dip?”

    Posted: 21 Feb 2018 09:07 AM PST

    Of course you should buy the dip. Of COURSE you should buy the dip. That's like asking, should I buy shoes while they're on sale or wait for them to be twice as expensive?

    If "buy low, sell high" sounds like a good strategy to you, then it's almost time to buy.

    How low into the dip should I buy?

    Right now, BTC is trading around $10,000. At its lowest point during this month, it was trading close to $6,000. That's a huge difference, right? But just remember that the worst place to buy into BTC this month wasn't at $7,000, $8,000, or $9,000 - it was $11,697.33, it's month high.

    Missing the dip entirely is the most expensive possible mistake you can make. Mis-timing the dip isn't the end of the world.

    Today we're down about 10% so far, still 9% above the weeklong low. Maybe you think it'll hit that weeklong low. Maybe the monthlong low. But no matter what happens, you know - you know - that the recovery is both inevitable and will occur much faster than your ability to react to it.

    The market corrected down to $6,000 last month then promptly shot back up. The market is excited to spend more than $6,000 per BTC. A couple months ago, the market was happily paying $19,000 per BTC. Nothing about the underlying assets has worsened. In fact, the underlying asset is improving all the time - new development and marketing activity is still happening constantly. The market is growing and the number of new buyers is way outgrowing the number of market exits.

    Don't overthink the timing. Buy the dip. Set reasonable price targets and don't miss out on an opportunity to grow your money by the approximate size of the dip.

    If you don't think it will recover to the present level, then by definition you must exit the market. Now. 100% of your portfolio must be liquidated today. Why not? If you don't think the market will recover, then why would you let your money just peter out like that? It is an internal contradiction to believe both that the market will not recover and that you should keep holding.

    submitted by /u/VirtualCurrencyLaw
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    Bitcoin Transaction Fees Reach Ten Month Low

    Posted: 20 Feb 2018 10:34 PM PST

    No pressure anything but...

    Posted: 21 Feb 2018 08:39 AM PST

    Addicted to Bitcoin | My Strange Addiction

    Posted: 21 Feb 2018 01:02 PM PST

    I've been on bitfinex playing with .4-1 eth/btc for about two hours straight. Those trade patterns...

    Posted: 21 Feb 2018 06:57 PM PST

    That's some high level fucking AI right there. I'm tempted to say there's a win-win strategy between more than one AI that plays with, not only the frequency of the trades, but also with the order book.

    Any day traders have recommendations on how to beat around this? I'd go as far as purchasing AI software.

    submitted by /u/OneOverNever
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    $BLZ listed on huobi.

    Posted: 21 Feb 2018 10:06 PM PST

    Idea to settle tezos dispute

    Posted: 21 Feb 2018 10:00 PM PST

    Spain Is Giving Crypto Tax Breaks, Promoting Blockchain Experts

    Posted: 21 Feb 2018 04:42 AM PST

    Glitch in Japansese exchange allowed user to place a $20 trillion Bitcoin order...

    Posted: 21 Feb 2018 06:11 PM PST

    Monero Private Coin - How Does It Work ( Explained Simple )

    Posted: 21 Feb 2018 09:33 PM PST

    Neurotoken is now listed on CMC

    Posted: 21 Feb 2018 05:16 PM PST

    I Think I'm Actually In A Coin Early...

    Posted: 21 Feb 2018 12:12 PM PST

    Backstory: Started learning about crypto about December 20th and after 2 weeks I figured I'm an expert and started buying (January 2-6 spent my initial investment). Yes, I am the ATH king! Learned a lot since, dollar cost average'd my way down to where I'm not much in the red at this point (approx 20%). Quickly realized I'm dumb AF, not an expert and maybe barely a step up from a NOOB. All that said, I spent a lot of time these last 2 months reading and research and understanding the fundamentals much more than trying the get a handle on hype. I'm not hip so I figure I have no chance at investing based on hype.

    Now onto my early investment. Yesterday I got into High Performance Blockchain (HPB). I had made up my mind that I would take my LTC profits right around the fork and invest elsewhere so I sold close to the high on Feb 20 (pure dumb luck.. what a drop today). I wanted a coin under $100M market cap with partnerships (partnership with massive company Union Pay and NEO is an angel investor), a huge use case, well off it's ATH, and one that had not been hyped yet. Admittedly HPB is not under $100M, in fact it was $120M when I bought it but close enough, checks the other boxes, especially being under-hyped / relatively unknown.

    What gets me so excited is this: Many who do know of HPB say it is the EOS of China. Although there are some differences in their projects I'm sure, from what I understand their underlying goal is the same: massively increase transactions per second to enable a high volume of data transfer.

    EOS has a current market cap of approx $6B and was over $10B at the ATH. A $10B cap for HPB would be an 83x. I'm not suggesting HPB will get there soon or ever but it doesn't need to to be a wildly successful investment. When EOS is back to $10B, HPB could have 20% of the market cap at $2B and it would be a 20x investment. And with an updated white paper coming out, testnet in Q1, mainnet in Q2, and better marketing / awareness, I am more than confident that HPB will be a $2B coin and beyond in the future. I am hodling this one for a few years.. this one is my retirement (I can dream right?)

    All that said, I'm open to counter-points. Did I miss someone massively important that will make this project a total bust? Or am I a genius and you are thanking me for your future retirement too?

    submitted by /u/Hidden58Farm
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    Crypto Recap Feb 21: Market Value Fails to Hold Above $500b

    Posted: 21 Feb 2018 05:02 PM PST

    Shorting A Crypto-less Future

    Posted: 21 Feb 2018 04:57 PM PST

    The Real Test of Social Commitment: What Cryptos Grew the Most on Reddit/Twitter in Last 30 Days?

    Posted: 21 Feb 2018 08:37 PM PST

    Things To Know About The Robinhood Crypto Exchange

    Posted: 21 Feb 2018 07:05 AM PST

    Venezuela 'Raises $735 million in ONE DAY' from sales of New Oil-Backed Petro Cryptocurrency

    Posted: 21 Feb 2018 12:46 PM PST

    Meanwhile on Zaif exchange..

    Posted: 21 Feb 2018 11:23 AM PST

    What are we doing wrong?

    Posted: 21 Feb 2018 04:04 PM PST

    Greetings,

    I'm responsible for handling the marketing facets of an ICO which I believe to have immense potential. Unfortunately resources as of late have been scarce, and the project has been relegated to advertising almost exclusively on free platforms. We've put a lot of work into refining the presentation, but to no avail. Moentum Token launched today and the reception was underwhelming to say the least.

    At this point I'm really just left wondering how it is that so many blatantly bogus projects managed to raise substantial amounts of money, whereas our project with all the credibility in the world (our whitepaper for more on that), and with the capacity to genuinely change the game, has fallen on utterly deaf ears.

    Any advice at all would be appreciated. I'm not sure where else to turn. https://www.moentum.com/

    Thanks in advance.

    submitted by /u/David_Balabon
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