[Daily Discussion] Wednesday, March 21, 2018 Bitcoin Markets

Can anyone kindly point me to any existing research which plots the release of new ASIC hardware to market (and hashing power volume) again associated coin market price over time.

I want to test the theory that a cryptocurrency has a fundamental value driven by the sunk cost of the miners. Hoping someone else has already done similar work and published it.

submitted by /u/opacey
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Not so HappyTax for taxes?

Posted: 20 Mar 2018 08:15 PM PDT

Crossposting this from r/cryptomarkets - but figured people should know.

So long story short, I signed up for HappyTax after seeing their CEO's AMA on here. I had also heard him on a podcast and he seemed knowledgeable.

I signed up for their main plan, on Feb 5th. I was looking to get my taxes out of the way early this year, so a few days passed and I didn't hear anything (not even a confirmation), until Feb 9th.

If you go on their site and use their mapping tool, they apparently have several preparers in my area (Bay Area, CA - so not surprised). However, the person who finally contacted me, ended up being located in the UK. Okay no problem, it's not ideal however they don't have to be in the US in order to prepare my taxes.

I was sent basically a copypasta email with instructions on how to link my account from bitcointax / cointracking.info - which I did. A week passed I heard nothing, then a second, then a third. Finally i hear back on March 1st, from a NEW person with the exact same copypasta message as the one I received nearly a month earlier from a different @happytax email account.

I go ahead and answer those questions, and of course I hear nothing back - and now I've received yet another email with instructions on how to link my accounts (something which i've already done) - from a third @happytax email account.

At this point, i'm running out of time to do my taxes to play the back and fourth email game. I'm not sure https://www.reddit.com/user/HappyTax was a worthwhile $650.00 investment. Which is a shame, because as I said Mario came across as very knowledgeable and honest previously.

submitted by /u/1dayitwillmake
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Top 300+ Crypto Map insights: 49 smart contract platforms and 42 digital cash

Posted: 21 Mar 2018 08:33 AM PDT

In the process of building a tool to compare coins by market cap (to estimate their potential), we ran into a problem of identifying comparable coins, i.e. competing projects. Therefore, we decided to categorize top cryptocurrencies by industry/field they operate in. Categories file with 300+ crypto map is here.

Observations

After going through 300+ coins' websites, reviews and sometimes even whitepapers, one by one, we've noticed a few issues:

There's a lot of projects but only a small number of them solve real-world problems. There are so many similar projects without any use cases, or potential real users.
Most coins aim to solve the same problems and focus on the same broad use cases.
A large number of projects claim to be "better, faster, bigger, etc." yet fail to provide any sustainable competitive advantage
With a few exceptions, the vast majority of blockchain platforms (Smart contracts and dApps) don't offer clear significant benefits against the established players. In addition, they don't provide services that would help attract new users, e.g. helping them integrate users' products into the platform, and they don't suggest any other ways of how they will attract a critical number of users. This will likely result in a large number of zombie platforms serving small numbers of companies.
Similarly, only top3, maybe top5 projects within each category should dominate, while the rest would struggle to attract users or cease to exist, unless they pivot to focus on specific small niches within their markets
Many projects fail to clearly communicate what they actually do and why they exist, i.e. what are their benefits against competition. In some cases, we needed to really go deep into their whitepapers or even discussion boards to understand what they actually do.
In cases when a project aims to solve a specific problem, it seems to have much lower market cap potential compared to crypto projects that are impossible to link to traditional companies or industries
Top 3 categories of the reviewed projects: Finance (29%), Digital cash (21%), Smart contracts and dApps (16%)

Categories (check the 300+ crypto map)

Categories are available on MatchCoins.info, currently as a feature of coin comparison. In addition, we've assembled all the top projects into a Crypto Map for you to see the big picture here. Enjoy! If you have any suggestions, we'd appreciate your feedback.

MatchCoins.info tool

MatchCoins.info is a cryptocurrency comparison and research tool. Use it to: 1. Estimate the potential of a coin by adjusted market cap and total/circulating supply 2. Check coin's major competitors and how they compare in relevant categories

Disclaimer

The coins have been categorized based on our own research and opinions. Information is provided merely for informational purposes and cannot be treated as investment advice.

submitted by /u/draudoff
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I built an app to keep track of all our cryptos - I hope you like it :)

Posted: 20 Mar 2018 02:50 PM PDT

Hi guys, I made an app to track our crypto portfolios! I was hoping to get some feedback from you! Let me know what you think! Thanks

https://f0l.io

submitted by /u/pcalessio
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What Might Happen if Bitcoin Loses Its Dominance? – Crypto Disrupt

Posted: 20 Mar 2018 01:28 PM PDT

For the entire history of cryptocurrency, bitcoin has been the dominant coin almost entirely because it was the first fully functional cryptocurrency to go live and showcased the power of the blockchain. According to CoinMarketCap, Bitcoin has mostly had a 90% dominance over the market from 2013 to 2017. This means that for four years, 90% of the money within the cryptocurrency market was in the form of bitcoin. It also means that bitcoin had the highest market capitalization.

However, from March 10th 2017 to June 19th, 2017 its dominance fell to a mere 37%. In the space of just 101 days, bitcoin lost 53% of its dominance. Since then, it has never seen dominance beyond 65%. Bitcoin's massive fall from grace was the first time that the market got a sense for its vulnerability, and if it wasn't for such a drop in dominance, we might not have the same thriving and diverse market that we have today. This is because, on June 12th, 2017, Ethereum reached its highest market dominance of 33%. Bitcoin's loss of dominance allowed for Ethereum's network to grow and flourish, providing us with hundreds of ERC20 tokens.

At the moment, Bitcoin's dominance is at 42%. This is still a massive number. In fact, it is absurdly massive. For comparison, there is nothing in the stock market that comes close to such dominance. While Bitcoin is a powerful force in the industry, it is perhaps not powerful enough to stay dominant forever. What would happen if it lost its dominance altogether? What if another coin held dominance?

Bitcoin could lose its relevance Bitcoin will always be remembered as the first cryptocurrency and the coin that brought us blockchain technology, but this alone is not enough to keep it relevant. Right now, bitcoin is used as a gateway into the world of cryptocurrency for investors. People mainly buy into it so that they can exchange it for other cryptocurrencies through services like Binance. This is partially because bitcoin is the most used trading pair, meaning that you need it to make trades with other more obscure coins. If bitcoin lost its dominance, it is likely that it would stop being used as the leading trading pair on exchanges.

No longer a viable store of value People who use bitcoin as a means of storing their wealth might think twice if it was to lose its dominance. At the moment, the most appealing aspect of using bitcoin for this function is that it is worth more than other cryptocurrencies. Without its dominance, people may start looking into other coins as a store of value. It is possible that they would come to the conclusion that a stablecoin is better suited for the job. Stablecoins are cryptocurrencies which are pegged to the price of something external (usually to legal tender or possibly gold). The most (in)famous example of this is Tether, which is pegged at $1.00, but investors are wary of using it as a store of value because of its shady handlings. New stablecoins like Dai are being developed that aim to take over from Tether.

The perk of storing your money in a stablecoin is that you can be confident that it will not fluctuate drastically like every other cryptocurrency.

Bitcoin's price could drop significantly Not only does bitcoin have market dominance, but it is also the most expensive coin on the market. Technically, bitcoin could remain the most expensive cryptocurrency even with a minority dominance, but this is unlikely. Bitcoin's price is arguably tied to people's trust that it will stay dominant. Without its dominance, it loses its proof of relevancy, and therefore its price.

We would have a new dominant coin Naturally, if bitcoin lost its dominance, we would have a new dominant cryptocurrency. A reasonable guess would be that Ethereum would become the new dominant coin since it has the second largest market cap right now. If Ethereum gained market dominance, it is possible that all ERC20 tokens could rise significantly in price too as they rely on Ethereum's blockchain. This would change the landscape of the market substantially. Ethereum dominance could mean that more Ethereum tokens enter the top ten on CoinMarketCap (currently only one token is there).

How likely is it that Bitcoin will lose its dominance? Bitcoin has only once come close to losing its dominance, which was on June 12th, 2017, when Ethereum's dominance rose. Since then it has kept a comfortable distance from all other coins. The reason people think bitcoin will lose its dominance is that other coins, like Ethereum, are more functional. You can use this tool to see how close Ethereum is to overtaking Bitcoin in terms of dominance.

With that said, Bitcoin may never lose its dominance. While it does seem likely that one day another coin will be more valued, there is no reason to say that will ever happen. This was merely a discussion regarding what might happen should such a situation arise.

What are your thoughts?

Source: https://cryptodisrupt.com/what-might-happen-if-bitcoin-loses-its-dominance

submitted by /u/pyro0049
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Snapchat Bans Cryptocurrency ICO Ads (Source: Cheddar)

Posted: 20 Mar 2018 05:39 PM PDT

Snapchat joins Reddit, Facebook, Google, and allegedly Twitter in the crypto advertising ban.

Original article: https://cheddar.com/videos/snapchat-bans-cryptocurrency-ico-ads

submitted by /u/thedailybit
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Taking A Position In Crypto Using Your Day Trading Computer

Posted: 20 Mar 2018 09:34 PM PDT

https://medium.com/@WarriorTrading/taking-a-position-in-crypto-using-your-day-trading-computer-ea6ae30f0b41

submitted by /u/RossCameron
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Can you short BTC only with FIAT?

Posted: 20 Mar 2018 02:04 PM PDT

Dumb question here but I am having problems finding answers how to correctly short BTC on Kraken. I am not sure I fully understand instructions on Kraken website, and a little mistake there can wipe out my entire funds.

Hypothetical situation: BTC is 9000$, I am in FIAT, I just cashed out my long. I now want to enter a short position on BTC without leverage directly with fiat, is that possible? If not what is the easiest way from this situation?

Sorry once again if this question doesn't belong here, I'll delete it, anyone who is willing to help me out a little can send me a private message.

Thank you

submitted by /u/0bran
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Is “BTC Will Take All Of Gold’s Value Within 5 Years” The Easiest Argument To Understand?

Posted: 20 Mar 2018 07:35 PM PDT

I know the possibilities of BTC in eating away at different financial pillars is very true, but when talking to people who don't own BTC, this is what they respond to best in my experience.

submitted by /u/DCEagles911
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How to stoploss and limit sell (profit) at the same time.

Posted: 20 Mar 2018 10:33 AM PDT

I tried finding the answer here and simple google. I know many people have asked but haven't found a good solution.

I am struggling to find a simple and cost effect (free would be awesome) to place both trades at the same time. So many trade ideas/targets mention stoploss and target. How to enter those? Watching screen continuously is not possible for me.

Sorry for the noob question again.

edit1: In other words which exchange do you use for OCO order types? (I am in USA)

submitted by /u/Wolverine9478
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G20 Conclusions....more could be asked from 2-3 days of meetings...

Posted: 20 Mar 2018 11:21 AM PDT

Whole lot of talking with no answers so far. Basically - what they have mentioned is that - they werent able to reach a conclusion.

This can mean another looming set of meetings and possible regulations.

Let's see if any other bits of news slip out that may push the public in one direction or another.
https://twitter.com/g20org/status/976156558034808834?s=19

submitted by /u/fcukjerry
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Tax on holdings if selling portion?

Posted: 20 Mar 2018 11:12 AM PDT

How is a holding taxed if one sells only a portion of it? I'm aware crypto-to-crypto is taxed at short term rates, however, suppose I buy BTC for 5K worth and 5 months later I sell 1K worth of it. Upon this "cashing out", is the 1K taxed, or is the entirety of the 5K (or however much it is then) taxed since you realize your gains?

Also, if I sell a portion of holdings, is the rest of the holdings which that portion is taken from void from long term holding tax, meaning the 5K is then subject to short term tax now?

And say you buy more BTC, is that a separate "lump" even though it adds to your holdings?

submitted by /u/kopoplok
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Margin Trading: Claiming a position.

Posted: 20 Mar 2018 12:05 PM PDT

Anyone that's experienced would elaborate a bit on when it's a good idea to do it... and when it's not, please?

submitted by /u/tekvx
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GDAX trading bot

Posted: 20 Mar 2018 10:14 AM PDT

Hi guys, can you please recommend me some HFT bot for GDAX ? I have my own strategy, i can place order manualy. All i want from tranding bot is automaticly and ultra fast moving my order to the top in order book. So i place buy order and when will not be filled and market will goes UP, bot cancel my order and place new order to the top. Can some bot do this ?

Sorry for english. Thanks for help

submitted by /u/wolf252525
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Wednesday, March 21, 2018

[Daily Discussion] Wednesday, March 21, 2018 Bitcoin Markets

[Daily Discussion] Wednesday, March 21, 2018 Bitcoin Markets

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