Cryptocurrency Daily General Discussion - April 10, 2018 |
- Daily General Discussion - April 10, 2018
- Important point to remember
- I just closed my BMO Mastercard, and told the bank my main reason was for the way they are treating cryptocurrency.
- Nano Foundation Announces Legal Fund For BitGrail Victims
- “ It’s The Perfect Time To Buy Bitcoin ! “ Reddit Post From 6+ Years Ago
- How and why exchanges are manipulating the price in order to capitalize on the new market dynamics
- E-Grid Shanghai Consulting takes a step towards blockchain adoption in the automobile industry.
- Nanex.co will be donating to the Bitgrail legal fund
- The Owner of New York Stock Exchange: Crypto Trading Is a "Trend That We Can't Ignore"
- A documentary about the 2008 crisis — Reminder why banks and governments can't be trusted
- Verge holds users hostage
- LVMH inaugurates - Vechain is on the list ! (french article) To note The 23 start-ups that inaugurate this program have raised for a total of about 25 million euros since their creation.
- I really don’t think most people (including myself) can fathom just how early we are in this space
- Great read about holding bitcoin or alts when a bear market ends.
- New crypto exchange opens in India, despite new RBI regulations
- Cryptocurrency Traders Protest Against Poland’s Tax Rules
- Analysis: SEC started looking at Bitcoin ETFs, Again
- Smart money is accumulating this week
- Syscoin (SYS) Price Surge a Threat to eBay and Real Estate Auction
- What stage do you think CryptoCurrency is at, and why?
- OriginTrail (TRAC) - Ranger Release v0.5a, improved payment mechanism and more
- Bitmain control > 51% of Bitcoin Hashrate | #FairMining is important
- Guess i can chalk this one up as a loss.
- How AI May Change Our Future Investments
- NYSE Can Launch Crypto Futures
| Daily General Discussion - April 10, 2018 Posted: 09 Apr 2018 11:12 PM PDT Welcome to the Daily General Discussion thread. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and excercise utmost caution before acting on any trade tip mentioned here. PnDs and brigades are not sanctioned by the mod team in any way as they violate rule III. If you discover this thread is being used for these activities, bring it to the mod teams's notice via the modmail. Guidelines:
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Thank you in advance for your participation. Enjoy! [link] [comments]  | ||
| Posted: 09 Apr 2018 10:31 AM PDT
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| Posted: 09 Apr 2018 03:37 PM PDT Their response was "But sir, all banks will soon treat Crypto this way"..... And I laughed, and laughed and laughed. I then said absolutely, and they will be known as the ones that went out of business. Pretty pathetic that they spout this garbage messaging out there as an attempt to spread more FUD. I've had zero issues with CIBC, who actually happens to be a Ripple partner up here too. Silly BMO, you'll lose all your customers.... Edit: I closed my credit account because they were denying both credit and debit accounts for Cryptocurrency buying. [link] [comments]  | ||
| Nano Foundation Announces Legal Fund For BitGrail Victims Posted: 09 Apr 2018 10:46 AM PDT
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| “ It’s The Perfect Time To Buy Bitcoin ! “ Reddit Post From 6+ Years Ago Posted: 09 Apr 2018 09:05 PM PDT Did some old digging and stumbled across a handful of old Bitcoin Posts from 5-7 years ago. Just some fun stuff. Link Below is to the post about when Bitcoin was 5$ ENJOY GUYS! First Link is to Title Post List of another 7 Ancient Bitcoin Posts from 5-7 Years ago: " If I buy Now am I an Early Adopter " "Bitcoin threat to USD currency " " Bitcoin hits 7M Circulating Supply " " Bitcoin surpasses 20 currencies in Value " " Bitcoin Falls 90% " "Chances of Bitcoin becoming Widespread. Buy Now? " Days From Bitcoin Far Over " [link] [comments]  | ||
| How and why exchanges are manipulating the price in order to capitalize on the new market dynamics Posted: 09 Apr 2018 07:01 AM PDT The current market seems to be largely driven not by organic buying and selling, but by exchange driven manipulation of the spot market to exploit the current dynamics of leverage trading. We just saw it again now as they liquidated 3K longs but you can see this pattern of clear manipulation over and over in the last few weeks . We have seen several forces set an incentive for exchanges to do this:
Some exchanges like Gemini have reacted to all of this by increasing their trading fees by 400%. Meanwhile Bitfinex specifically seems to be using its hefty weight to manipulate the price in order to capitalize on the record number of people using margin to bet. Both longs and shorts are bets on the price moving up or down and they have a "liquidation price" at which they get liquidated by the exchange, essentially the exchange gets the entire stack they bet with and extracts a high market fee multiplied by the leverage. Since the exchanges know the characteristics of the outstanding shorts/longs, and since volume is low after these pumps or dumps leading to sideways drift, they can essentially engineer movements in price that create income in terms of liquidations. When there are lots of overleveraged shorts, an exchange can pump the price with bots briefly and collect the short position. Same with longs but in reverse, a quick burst of selling pressure. You can see this in the most recent pumps too on Bitfinex, where 1K buy orders appear out of nowhere after long sideways movement only to be followed by either sideway movement or slow bleed on pathetic volume: https://i.imgur.com/3YaWVBI.png https://i.imgur.com/pvpcd7Z.png Take a look at the most recent pump up to 7K, it instantanously liquidated about 700 short positions: https://i.imgur.com/3sCLEB8.png Now this last dump was a laddered 12.5K sell order on Bitfinex that liquidated around 3K long contracts https://i.imgur.com/znYyUT8.png Bitfinex tends to be where the big money traders move (their minimum deposit is 10K) so even if each long position was only 0.5 BTC on average they exchange would make a ton of money. If you look at the BitmexRekt twitter feed that shows a running list of Bitmex liquidations with humorous commetary, you will see many >$1 million dollar positions being liquidated during these moves. This is what all the "Bart" formations we have seen stem from. Its not George Soros pumping Bitcoin for shits and giggles, nor is it the nebolous "whales". They have no incentive to try and pull off PnDs now that it only leads to either sideways movement or decline after the pump. A PnD only works if the delta between the top of the pump end point and dump initiation point is positive, while now it seems to be followed by sideways movement. Those who do want to bet on further upward movements seem to be doing it off the spot market, using margin with futures and perpetuity swaps on Bitmex. This makes the low volume spot market ripe for manipulation, exchanges like Bitfinex and Bitmex have every incentive right now to manipulate the price. Looking back it seems almost inevitable that this would have happened, that traders would try to replicate the gains they saw by buying and selling on the spot market a few months ago by using increased leverage and derivatives. In December and January there were days where your holdings would increase by at least 20% no matter what you bought. Once you experience those 20% daily gains you don't want to go back to a market where it slowly bleeds down a few percent every week, so people jumped in on high leverage short positions to multiply their profit on those single percent moves down. For the small time investor there really isn't much you can do to stop this. This is what being part of an unregulated market means, it means that things like wash trading and long/short liquidation hunting is allowed. All you can really do if you're a trader is look at the current ratio of longs vs shorts on Bitfinex and be aware that once short contracts become too high its possible that an exchange may pump the price to profit on it, while if the longs become too dominant we may see a dump. Edit: Bitfinex, not Bitfenix. [link] [comments]  | ||
| E-Grid Shanghai Consulting takes a step towards blockchain adoption in the automobile industry. Posted: 10 Apr 2018 01:39 AM PDT | ||
| Nanex.co will be donating to the Bitgrail legal fund Posted: 09 Apr 2018 01:22 PM PDT
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| The Owner of New York Stock Exchange: Crypto Trading Is a "Trend That We Can't Ignore" Posted: 09 Apr 2018 01:11 PM PDT
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| A documentary about the 2008 crisis — Reminder why banks and governments can't be trusted Posted: 09 Apr 2018 05:10 PM PDT The documentary is called Inside Job and definitely earns the Oscar it won. It includes interviews and explanations from various people who were (more or less) involved. Obviously, influential people declined appearing. I believe this is a reminder of why cryptocurrencies exist and how they could avoid such crises in the future. Narrated by Matt Damon himself. [link] [comments]  | ||
| Posted: 09 Apr 2018 02:20 PM PDT I know how many people love to laugh about verge. And most of them are right. Im Verge holder from those days when it price was 1 cent. I had 25x but still not sold, yeah i was naive and stupid, new to market. And now we have that "hack" that stupid Sunerok forked code and dont even checked anything. Did hardfork and now Linux, Windows users can not access their money. SO how fa F@CK i sell all my verge at April 16th??? Sunerok is most pathetic loser i ever seen in development world. I can not write this in Verge subreddit because those idiots banned me. And i don't even write anything bad about them cause Verge was like 70% of my portfolio. SO for people like me - SELL your Verge. There is NO team, only 1 stupid dude, who are amateur on what he's doing. get profit and leave. Or sink if you want. verge will NEVER be in top coins, at least while this loser Sunerok is in charge. [link] [comments]  | ||
| Posted: 10 Apr 2018 02:59 AM PDT
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| I really don’t think most people (including myself) can fathom just how early we are in this space Posted: 10 Apr 2018 12:50 AM PDT I caught a post the other day featuring this picture, comparing it to today's decentralized tech, and it's completely right. Bitcoin was the world's first decentralized database. And it's great as just that but nothing more — a single database with static information. Its followers (Monero, Litecoin, Bitcoin Cash, Nano) serve the same core purpose — a database of transactions. For a single physical machine, this is analogous to a ledger and nothing more. Ethereum attempts to create a separate machine that is natively programmable with a true Operating System and its own scripting language. All other smart contract platforms attempt the same. For a single physical machine, this is analogous to a computer with no networking capabilities. Third generation technologies such as Cardano and EOS are attempts to create a third machine that is not only natively programmable, but also to network all other decentralized protocols via one mechanism. This is where we actually see distributed ledger tech reach the point that personal, single-machine computers did with the advent of the Internet. Once such a core Internet of Blockchains is created, the sky truly is the limit. It's extremely easy to envision this tech scaling to the point of being able to compete with bandwidth provided by a central internet service provider. We won't be talking transactions per second. We'll be talking megabytes or gigabytes per second. It may seem far fetched but it seems to be the next logical step given the path of development centralized computers have taken since their inception through the advent of the Internet to today — where people easily stream huge files not stored on their local machine, and where this decentralized tech has performed analogous leaps with analogous future goals. We truly are just getting started with this technology, and what the future holds is truly fascinating to speculate on. [link] [comments]  | ||
| Great read about holding bitcoin or alts when a bear market ends. Posted: 09 Apr 2018 09:11 PM PDT
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| New crypto exchange opens in India, despite new RBI regulations Posted: 10 Apr 2018 02:24 AM PDT
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| Cryptocurrency Traders Protest Against Poland’s Tax Rules Posted: 10 Apr 2018 12:32 AM PDT
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| Analysis: SEC started looking at Bitcoin ETFs, Again Posted: 10 Apr 2018 02:35 AM PDT
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| Smart money is accumulating this week Posted: 09 Apr 2018 12:35 PM PDT Tl;dr: The next major crypto bull run starts later this week. This is the moment the whales have been waiting for. First, lets review the past several months. Back in October 2017, Bitcoin was hovering in the $5000s. When Bitcoin Futures were announced, it felt like everyone and their grandmother were FOMOing in for 2 months straight, thinking they were frontrunning big institutional money. With Bitcoin's rise, money also flowed into alts. But Bitcoin peaked at the launch of CME futures and its daily volume ended up being consistently less than 1/100th the volume of Bitmex, barely something that should have impacted the price. Once money started leaving Bitcoin, alts were dragged down with it. Over the past few months I have witnessed a combination of profit taking, panic selling (the dreaded Bitcoin 'death cross' lol), and even new short sellers like my friend who has almost no trading experience but very recently told me he was opening 10x short on Bitmex. But even more impactful than all of that, is the fact that people made 10x, 100x, even 1000x gains in cryptocurrency in 2017 but did not plan ahead for taxes. Some estimate that it led to an extra $25 billion of selling to start 2018. However, bigger money has already sold to pay US taxes. The only people that are risking waiting until the very last week before April 17th to cash out are handful of smaller fish. The sell pressure has almost completely eased up and many cryptos are finding a bottom. Although prices have taken a big hit recently, crypto is far from dead. Bitcoin's lightning network just launched and is growing rapidly, Ethereum's plasma is set to launch soon, and Iota is already being adopted by Bosch, VW, Fujitsu, etc. with a 'typhoon' of releases incoming that the Foundation is working to finalize. Not to mention all the recent progress from Cardano, Eos, Litecoin, Neo, Ripple, Stellar, and many other coins outside the top 10. Goldman Sachs backed Circle has bought once dominant but overloaded Poloniex, Coinbase is launching an index fund that is getting interest 'well beyond anything we were expecting', and JP Morgan came out with a 60+ page report on cryptocurrencies, signaling that they are eyeing an entry strategy. I repeat, crypto is far from dead. The smart whales know all this. They also knew not to FOMO in at the peak. Instead, they have been FUDing the price down and waiting for the perfect moment to buy in. The end of tax season is that moment. Now we are seeing rumors of some of the wealthiest families and individuals coming into the market. Soros, Rockefellers, and Rothschilds (literally the richest family in the world) are beginning to invest in cryptocurrency. They are not coming in after the market has gone down 70+% and while its still in its infancy just to open a short. They are coming in now to hedge geopolitical risk, invest in world changing technology, and bet against the uncontrolled printing of fiat money by nations across the globe. I also suspect there are many more big players that are trying to enter more quietly. Now is the time for you to get in before the big banks and the wealthiest of whales eat our lunch. I may get downvoted by the bears and whales who have not bought in yet and want the last of the weak hands to sell, but I only speak facts and logic. I also have a good history of calling bottoms. My second to last post in this subreddit was on November 4th, calling the time to buy back alts right before the massive end of year pump. [link] [comments]  | ||
| Syscoin (SYS) Price Surge a Threat to eBay and Real Estate Auction Posted: 09 Apr 2018 09:04 PM PDT
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| What stage do you think CryptoCurrency is at, and why? Posted: 09 Apr 2018 05:59 PM PDT Hope I don't get downvoted for this. I'm seriously curious about which stage we are in. I'm in this for the long term for the technology, not the money, but i'm wondering about the actual stage we are at. Remember when the dot com bubble grew so big and then popped, and then it took like 10 years for the most prominent companies to float to the top while everything else pretty much died out. Are we at THAT stage? Was this the final bubble before adoption? Or do you think we are going to see more roller coaster bull and bear runs for the next few years still. Again, i'm not a trader, but i'm curious because even though I don't usually check prices so much, i've noticed a lot of FUD and people on the main bitcoin trading subreddit who are very concerned about manipulation and lack of volume. What are your thoughts on this? [link] [comments]  | ||
| OriginTrail (TRAC) - Ranger Release v0.5a, improved payment mechanism and more Posted: 09 Apr 2018 02:32 PM PDT (Taken directly from Telegram, Medium article to come on Wednesday.) Say hi to Ranger Ranger Release v0.5a - April 9th - Improved version of payment mechanism - Generalizing graph logic based on pilot insights This release introduces several improvements including a further generalization of the graph logic based on usage insights, enabling the easier addition of further standards and an improved version of the compensation system. See these links: - Published the graph structure documentation (description/theory) https://github.com/OriginTrail/ot-node/wiki/Graph-structure-in-OriginTrail-Data-Layer---version-1.0
A Medium post (blog article) will follow on Wednesday. Cheers & good night from Europe. [link] [comments]  | ||
| Bitmain control > 51% of Bitcoin Hashrate | #FairMining is important Posted: 09 Apr 2018 02:49 PM PDT
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| Guess i can chalk this one up as a loss. Posted: 09 Apr 2018 04:42 PM PDT
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| How AI May Change Our Future Investments Posted: 09 Apr 2018 05:46 PM PDT What's up guys? I have been doing a lot of research this week on how AI could potentially change the way we invest forever and I wanted to share some of the cool stuff I learned. Artificial Intelligence for Investment AI is finding a new home among the next generation of investment platforms such as Qompass. The Qompass trader App is designed to leverage your investments by employing this new technology to help you maximise your earnings without adding risk to your investment portfolio. The Qompass platform combines the best of all worlds to create an easy-to-use platform that leverages your efforts through smart learning AI. This innovative investment platform can be compartmentalized into main three main parts: Qompass Mobile App Nowadays, no crypto investment platform is complete without mobile support. Unlike previous investors, the cryptomarket is full of tech savvy individuals who are looking to technology to monitor the market and to make the most informed investment decisions. The Qompass mobile app provides users with a financial management application that is both accurate and concise. Qompass Card The Qompass Card is a Crypto-to-fiat debit card. This gives Qompass investors access to their funds for use in their day to daily lives. The card also functions as a hardware wallet to store users funds safely offline. When you make a purchase, your funds are instantly transformed into fiat currency at the POS. You may also use the card to withdraw funds from local ATMs. Qompass Trader Monitor the market like never before by utilizing the Qompass Trader. This investment tool will provide you with real-time market analysis, charting, and forecasting utilizing advanced AI algorithms. The trader combines anonymity and security into one powerful investment platform. QPSE Token and Leveraged Investments The QPSE token is an ERC20 token that is scheduled to be listed on most major exchanges throughout the year. The integration of this token allows the latest generation of cryptocurrency investors unlimited access to funding pools and liquidity pools. This is a huge addition to the platform as the funding pools can leverage your investments 100 times. The Qompass blockchain is able to manage and secure these leveraged transactions using smart contract technology. AI is coming It appears that AI is not just taking labor jobs and the day may not be too far off when you have robots managing your portfolio fulltime. The concept is exciting and the technology is already here. Now the only question is - what to do when robots start HODLing? Do you think AI is the future of the crypto market? What other blockchain/AI implementations are there? Interested to hear a bit more! [link] [comments]  | ||
| NYSE Can Launch Crypto Futures Posted: 09 Apr 2018 10:06 PM PDT
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