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    Thursday, March 8, 2018

    [Daily Discussion] Thursday, March 08, 2018 Bitcoin Markets

    [Daily Discussion] Thursday, March 08, 2018 Bitcoin Markets


    [Daily Discussion] Thursday, March 08, 2018

    Posted: 07 Mar 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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    Japan punishes seven cryptocurrency exchanges over regulatory lapses

    Posted: 08 Mar 2018 03:30 AM PST

    From the article (archived: https://archive.is/6NC7G):

    Japan punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection after a $530 million theft of digital money from Tokyo-based Coincheck Inc earlier this year.

    The exchanges included Coincheck, served with its second such notice since it was targeted in the late-January heist, and GMO Coin, run by GMO Internet Inc (9449.T). Bit Station and FSHO were ordered to halt operations for a month.

    The punishments represent the FSA's broadest response yet to concerns over security at Japanese cryptocurrency exchanges, which were first triggered by the 2014 collapse of the Mt. Gox exchange and resurfaced with the Coincheck heist.

    The regulator said Coincheck lacked proper systems for dealing with risks such as money laundering and terrorism financing. It gave the exchange until March 22 to submit a report on how it would improve.

    submitted by /u/dnivi3
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    What caused the crash to under $9300 today?

    Posted: 08 Mar 2018 09:02 AM PST

    BTC dropped to $9050, and ETH to $700 today. Yesterday it was Mt. Gox news and Binance troubles. What happened today? Whales? Bots?

    submitted by /u/ericthedreamer
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    Livecast now - US SEC Investor Advisory Committee including some crypto reg stuff ...

    Posted: 08 Mar 2018 06:41 AM PST

    https://www.sec.gov/video/live/85268659-iac-030818.htm Thing is day-long, but here, for example, is 10AM panel: Discussion of Regulatory Approaches to Combat Retail Investor Fraud: --- R. Cromwell Coulson, President, Chief Executive Officer and Director, OTC Markets Group --- Thomas Drogan, Senior Vice President and Deputy, Member Regulation's Office of Sales Practice, FINRA --- Sara Hanks, CEO, CrowdCheck, Inc. --- Melissa Hodgman, Associate Director, Division of Enforcement, SEC --- Christian Leuz, Joseph Sondheimer Professor of International Economics, Finance and Accounting, Booth School of Business, University of Chicago --- Lori J. Schock, Director, Office of Investor Education and Advocacy, SEC

    submitted by /u/avdmv
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    Crypto Will Bring 'True Freedom' Around the World

    Posted: 08 Mar 2018 08:43 AM PST

    https://cryptos.com/2018/03/08/steve-bannon-crypto-will-bring-true-freedom/

    By the way, This is the one of the most reliable crypto news sites.

    submitted by /u/ForrNarniaa
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    US CFTC Commissioner Quintenz stmt at DC Blockchain Conf 3/7/2018 - "New Chapter of Cryptocurriences"

    Posted: 08 Mar 2018 09:46 AM PST

    http://www.cftc.gov/PressRoom/SpeechesTestimony/opaquintenz8

    Inter alia, Quntenz said: "During the TAC meeting, I also expressed my willingness to explore how a new, private independent organization could perform an oversight function for U.S. cryptocurrency platforms. For example, we see this model working today through the National Futures Association (NFA) and the Financial Industry Regulatory Authority (FINRA). Currently, a patchwork of state and federal regulators have jurisdiction over the cryptocurrency industry. In my opinion, the area with the greatest need for enhanced regulatory certainty and oversight is the spot market. Today, state regulators and the Treasury Department's Financial Crimes Enforcement Network (FinCEN) regulate cryptocurrency platforms as money service businesses.16 While cryptocurrency exchanges can resemble traditional money transmission services, there are enough differences to warrant different regulatory treatment. As Congress works with federal and state regulators to determine the appropriate regulatory framework for cryptocurrencies, I believe an SRO-like entity could develop industry standards that could inform, or even serve as a blueprint for, future action... "

    submitted by /u/avdmv
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    There is no reason for the Mt Gox trustee to sell any more BTC.

    Posted: 07 Mar 2018 11:43 AM PST

    It seems like many/most are confused about the Mt Gox bankruptcy process.

    The Mt Gox trustee has no reason to sell any more of the Goxcoins. There are something like 165,000 BTC left.

    The sales so far cover all of the existing claims (which are in JPY based on aprox $470 market price of BTC)

    If bankruptcy proceeds, then the excess 165,000 BTC will be distributed to shareholders of the Mt Gox compahy (mainly Mark Karpeles).

    If civil rehabilitation is what the court switches to, then the 165,000 BTC will be distributed to claimants.

    So there is no reason to sell more, or at least not another big chunk.

    https://www.reddit.com/r/mtgoxinsolvency/

    submitted by /u/MyFavoriteDude
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    Main Takeaway from the Mt.Gox Selling Bitcoin/Bitcoin Cash (This is What Matters)

    Posted: 07 Mar 2018 07:15 PM PST

    As Tweeted: https://twitter.com/CoinLive_IO/status/971584495903129600

    Main takeaway from the Mt.Gox selling Bitcoin/Bitcoin Cash: Don't focus on the past events bur rather on the following "I plan to consult with the court and determine further sale of BTC and BCC," Kobayashi wrote.

    https://www.coinlive.io/terminal/crypto-recap-march-7

    submitted by /u/Ivo333
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    Quantamize Machine Learning Cryptocurrency Signals

    Posted: 08 Mar 2018 06:39 AM PST

    Bitcoin offers investors significant opportunity for profits through trading, but the markets can be difficult to navigate. AI and machine learning can simplify the investing process. Would you be interested in seeing this process applied to Bitcoin? What would investors like to see in a Bitcoin machine learning algorithm signal? Our proprietary machine learning algorithms generate a forecasted 3-day "buy/don't" own signal for cryptocurrencies, with Bitcoin being one. Are you interested in a more in-depth review of the technicality of the algorithm's inputs, or are you only concerned with the accuracy rate of the signal? How important is a back test to you, and how long should it be?

    submitted by /u/QuantalyticsResearch
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    How can I convert BTC to USD as a minor?

    Posted: 07 Mar 2018 08:28 PM PST

    I was thinking prepaid cards but I don't think you can buy those with bitcoin anywhere...

    submitted by /u/Meowderp9
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    Japan's FSA issues punishments to cryptocurrency exchanges

    Posted: 07 Mar 2018 05:57 PM PST

    Gemini deposit limit

    Posted: 07 Mar 2018 04:39 PM PST

    I'm interested in giving Gemini a try but see that daily deposit limit via ACH is $500. I want to deposit at minimum $5k. Is Gemini not an option or do I have to spend the money on a wire from my bank (prefer not to)?

    submitted by /u/torku
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    Which Crypto currency compare site do you use?

    Posted: 07 Mar 2018 02:06 PM PST

    I recently start to use this site called CoinRanker. The company just started and I don't want to support the biggest ones like CoinMarketCap.

    submitted by /u/Sophiaportera
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    Why I Think the Bitcoin Price is Declining -- It's not BTC Hate, Bear Whales, Bots or Mt. Gox.

    Posted: 07 Mar 2018 07:37 PM PST

    It's not MT. Gox bankruptcy sales. It's not anonymous "bear whales" who hate Bitcoin and want USD. It's not Roger Ver. It's the simple process of a market maturing -- as more people see that there are infinite ways to make money in the market, and many possibilities for the tech, they are using their profits from the epic latest bullrun to invest in alternatives and new technology around the ecosystem. As this drains the bitcoin power core, the price loses its benchmark highs. Could it go up again? Quite possibly. But I think at this stage it's Important to do research and look at what is going on in the other coins and other tech around mining and hardware, and follow smart money, which is likely going into these improvisations and innovations. I know that if I was a whale who got epically lucky, I wouldn't HODL forever. I would diversify to preserve my gains and then hopefully 10-20x my gains in other areas, because that's how bio-diversity in capital works. It's never one horse. It's a stagecoach connected to several types of horses.

    submitted by /u/TravelPhoenix
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    This is the Real Crash

    Posted: 07 Mar 2018 10:57 AM PST

    Yesterday I was thinking that we might be headed back upward but after Bitcoin went from 11700 to back below 10k I think that move is the final nail in the coffin for awhile. The reason being is that it indicates that a lot of people have taken a lot of losses and that they are going to continue to take profits whenever they get a reasonable opportunity to take them.

    I really felt like it could go either way yesterday. I was watching ripple rally and I thought that we were really going to see everything skyrocket.

    The catch with markets is that not everyone can really benefit from the reads that anyone can provide about them. Only the first sellers really get the benefit.

    I was thinking about who the buyers are here for a rally and if they are really bullish enough to buy at 11000 in these market conditions. It's not like it's an obvious sustained bull market. It's more like a situation where the upside is anemic and the downside swings are pretty harsh even though they have all recovered to the same anemic level. Even on the downside there is painful trading and conflict. A sign of confusion. I don't see a conflicted market at still somewhat elevated prices engendering a lot of confidence.

    I believe this is the real crash. That the previous one never really stopped. It just sort of slowed. But as painful as it probably will be I think that ultimately it will be good for the market. The lows could be truly painful.

    I'm 100 percent in cash until further notice.

    submitted by /u/olesentv
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