[Daily Discussion] Sunday, February 18, 2018 Bitcoin Markets |
- [Daily Discussion] Sunday, February 18, 2018
- FBBAR filing - US requirement
- Korean Market Weekend Update: Korean Government Official Dealing with Crypto Passes Away; New Years Sentiment Leads To Spike
- Large corporations are embracing blockchain. This could wide adoption.
- Where to daytrade crypto in Australia?
- Tony's www.urbroadbandcoin.com update
- How good is the https://lakebtc.com/ exchange?
- Medium post re price valuation pairing on cryto exchanges ...
- Sentiment report and insights for the crypto market, week ending 2018-02-17
- Best place to short a ltc and eth ratio
- Bitfinex and US taxes
| [Daily Discussion] Sunday, February 18, 2018 Posted: 17 Feb 2018 08:05 PM PST Thread topics include, but are not limited to:
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| Posted: 18 Feb 2018 07:17 AM PST For those that don't know ... US investors who accounts with foreign exchanges with assets over $10k are supposed to file an FBBAR with FinCeEN. FinCEN takes these filings very seriously and the penalties for not filing include large fines and possible jail. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 18 Feb 2018 07:50 AM PST Korean Market Weekend Update News: Korean Official In Charge of Cryptocurrency Policy Passes Away Days After Making Announcement that Brought Encouragement to Markets http://news.kbs.co.kr/news/view.do?ncd=3607294&ref=A 2018021800677_0.jpg This weeks news starts off on an incredibly sad note. Although I am not a fan of governments, and what I see to have been their irresponsible intervention into the markets, this is something I never want to see. Jeong Ki Joon (ì •ê¸°ì¤€), the Korean Economic Chief Advisor in charge of dealing with cryptocurrencies passed away in his sleep on the 18th. He was assigned to the position of economic advisor last September, and has since then has been in charge of coordinating policy regarding cryptocurrencies. Just 3 days ago on the 15th he announced the formal government position on cryptocurrencies. Currently his passing seems related to the amount of stress he was dealing with related to his duties. He was 53. He actually seemed to have been one of the government officials who stepped up and really tried to understand what cryptocurrency was, and see the positive benefits it could bring. Him and others made announcements from the government last week that detailed plans in order to "block illegal activity and maintain transparency in order to foster a healthy environment for blockchain technology." It is sad to see his passing, and we hope this isn't a common occurrence in the cryptocurrency space. Korean Exchanges Made 700 Billion Korean Won, (Appx, 656 Million USD) in 2017. A 87 Times Increase http://www.yonhapnews.co.kr/bulletin/2018/02/14/0200000000AKR20180214194000002.HTML?input=1195m According to documents released with a government announcement from the majority party in Korea, Korean exchanges saw an increase of 83 times in revenue over the previous year. Upbit alone made nearly 200 billion won (187 million USD)after launching at the end of October. Upbits launch was accompanied by a double in the amount of volume coming out of Korea. Bithumb made 317 billion won (290 million USD), Coinone 78 billion (73 million USD) and Korbit 67 billion. (63 million USD) These top four exchanges, plus the nearly 30 other exchanges has caused the total revenue of exchanges to exceed over 700 billion won. Comparatively, crypto exchanges in Korea did 3 billion and 8 billion won, (2.8 million and 7.5 million USD)in 2015 and 16 respectively. This sort of news really shows the strength and fervor of Korean markets. It is significant to note that previous to Upbit being launched, Koreans only had access to KRW based pairs, but were still one of the larger markets. With the launching of Upbit, which is actually just a connection to Bittrex that doesn't actually operate an exchange, Koreans were able to access all sorts of new cryptocurrencies, which obviously furthered their enthusiasm. The Lunar New Year Effect Trend Continues http://www.insightkorea.co.kr//news/articleView.html?idxno=22860 Since 2015, the Lunar New Year, one of the biggest holidays in Korea and other eastern countries has always bode well for cryptocurrency. The chart above shows how every year, crypto has fared better after the holiday than before. This began in 2015 prices moved from 235 million won 2,300 USD to 245 million, 2,400 USD, a 23.5% increase. This trend has continued over the past years, and this year seems to have been no exception. This year has been no exception. With the holiday beginning on the 15th, and technically starting after work ends the 14th, the price has experienced a 25% increase, going from 8500 to 10725 at the time of writing. (Binance) This is in spite of a dip that occured in the last few hours, which have seen a healthy rebound with significant volume. If this trend continues, prices could travel beyond 12,000 by the end of the coming week. But we will have to see. My opinion on the reason for this is simple. It's the same as the Thanksgiving effect that we saw send us soaring back in November. People and families meet, and one of the topics that is often discussed is finance, and obviously Bitcoin and cryptocurrency is one of the hottest topics to talk about. Add to that the fact that many of the youth, as in those unmarried receive between 10,000 to 200,000 won (10 to 200 USD) as gifts, this brings a lot of spare cash with which to move the market as well as new interest and speculation. Sentiment: Sentiment in Korea continues to improve, with significant increases in volume across all exchanges in Korea and the world. Global volume increased 25 percent, from around 400 million USD to 500 million USD over the period. Over half all the transactions that are taking place in non-cryptocurrency pairs ex. BTC/USD, BTC/KRW are being conducted in Korean won. The "Kimchi Premium" is continuing to come back, sitting around 5 percent at the time of writing. Among forums and news articles, positive sentiment also seems to be increasing. More news articles and government announcements are focused on how to help Korea become a center of blockchain development, and foster a healthy space for all the components of blockchain to grow, including cryptocurrencies. Overall, the market seems very healthy, with some overextending following this latest run, but no trouble in Korea that I can see. Good luck! Korean Listings: Upbit: 2/14 - Sirin Labs Token SRN 2/14 - Worldwide Asset Exchange Token WAX 2/16 - 0x ZRX 2/17 - BlockV Vee Bithumb Coinone Korbit All still under the self-imposed no listing regulation. No news regarding when this will change. Coinrail: 2/14 - Enjin Token ENG Coinnest: 2/11 - Oceanchain OC 2/11 - Beechat Gopax: 2/14 - Steem, SteemDollar STEEM, SBD [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Large corporations are embracing blockchain. This could wide adoption. Posted: 17 Feb 2018 03:19 PM PST I wrote an article on the adoption of blockchain tech by large corporations. Hopefully this will create value add applications which will drive wider adoption. (Note: I'm doing this on the side to hopefully add some value to the community. Let me know if there are any topics of particular interest to you!) http://cryptoblockchainresearch.com/2018/02/17/large-corporations-are-embracing-blockchain/ edit: wonderful discussion going on in this thread. I learned a lot. Thank you all! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Where to daytrade crypto in Australia? Posted: 18 Feb 2018 12:32 AM PST Anyone know which exchanges are convenient for an Aussie to daytrade crypto? I have only ever bought crypto from exchanges like BTCmarkets to hold, but the site looks very archaic compared to exhanges like Bitfinex or gdax. Also will I have to pay taxes? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tony's www.urbroadbandcoin.com update Posted: 18 Feb 2018 10:05 AM PST The blockchain companies continue with registrations on the exchanges. #urbroadband [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How good is the https://lakebtc.com/ exchange? Posted: 18 Feb 2018 08:58 AM PST I saw the LakeBTC exchange selling bitcoin. It will have https://lakebanker.com/ for token sell. How good is this exchange? Thanks. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Medium post re price valuation pairing on cryto exchanges ... Posted: 18 Feb 2018 08:57 AM PST | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sentiment report and insights for the crypto market, week ending 2018-02-17 Posted: 18 Feb 2018 08:11 AM PST Sentiment snapshot: Positive sentiment on r/cryptocurrency and r/altcoin has rebounded after being at lows not seen since last fall. Here's a chart of historical sentiment Also, here are this week's stats on the most mentioned cryptos on reddit, as well as some recent posts from other redditors that I found extremely educational! Background: I wrote a program that scrapes reddit posts from r/cryptocurrency and r/altcoin, calculates how much certain cryptocurrencies are mentioned, and uses a machine learning model to give each post a sentiment score. Understanding crowd sentiment can help give an early indication of the next potential 10x crypto, or just a general understanding of where the market could be headed. I'm always doing more research into the data so stay tuned for updates, and let me know if you have any questions or suggestions! If you prefer to follow along via email, you can do so here. RECENTLY TRENDING CRYPTOS Interesting Highlights
Visit this page to get the Google Sheet with all the stats and links to the scraped reddit posts (I can't post the Google Sheet url here because it gets flagged as a referral link). Notes: "Post Count" means the number of posts that had titles that mentioned the specified crypto. "Week Over Week Change" means the change in the specified metric over the last 7 days, compared against the metric over the previous 7 days before last week. "Total Post Score" means the sum of net upvotes (or score) for all posts that mentioned the specified crypto. RECOMMENDED READING I found these recent posts highly educational and helpful for better understanding how the crypto markets work. Shout outs to /u/suuperdad and /u/arsonbunny for some amazing content!
STAY UPDATED If you'd like to follow along via email and get more sentiment insights like the above (including ones for small market cap coins) + a better looking report in your inbox, you can do so at my website here. If you sign up for the free mailing list, you'll get a free sample of the email report we send out every week. I'm always looking to improve and provide more useful and interesting info, so don't be afraid to reach out! [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Best place to short a ltc and eth ratio Posted: 18 Feb 2018 06:56 AM PST Hi everyone, Best place to short a ltc and eth ratio (us) Been trading for a bit just standard ta jumping trains on the ratio nothing to advanced but am now looking to up the game. 1) Is it possible to short a ratio, ie: looking to short the ltc / btc ratio (not usd). I have a target ratio price for ltc and eth and their ratio bull run to buy back in and I'd like to short it to that btc price target if that is possible. Not sure if this is possible but I'm not looking to use any leverage or margin just 1x shorting the ltc or eth ratio. 2) What exchange is best for this. I would use a vpn but have not clue about the process and don't want to mess it up. Bitmex and bitfinex sound like good options but like I said I don't want to goof it having not worked with vpn's before. But would be willing to give it a go if it's what most of you are using. Time to up the game off of gdax and binance. Happy trading everyone. Thanks [link] [comments]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 17 Feb 2018 09:56 AM PST Can anyone suggest a way to deal with margin trading taxes on fines last year? Coin tracking doesn't support it. I'd also be interested if someone can suggest a really good US cpa that could figure out a giant mess of crypto taxes. Thanks for any help. I'm feeling pretty overwhelmed and don't know how it's gonna be possible for me to calculate everything across so many exchanges. Bitmex also seems really tricky [link] [comments]  |
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