[Daily Discussion] Friday, April 06, 2018 Bitcoin Markets |
- [Daily Discussion] Friday, April 06, 2018
- Is there still hope for a bitcoin ETF this year?
- Crypto fees are insane
- Bull/Bear Gameplan.
- Little help for Indian traders where cryptocurrencies are virtually banned
- Am I calulating this correctly?
- Official Robinhood Crypto vs Circle Invest Analysis and Discussion
- Tradingview Ideas
- Is there Any perspective ICO in near future???
- How long is Bitstamp taking for account verifications these days?
- Track Bitcoin sentiment from 50k articles using machine learning
- Technical Bulls against Fundamental Bears.
| [Daily Discussion] Friday, April 06, 2018 Posted: 05 Apr 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| Is there still hope for a bitcoin ETF this year? Posted: 06 Apr 2018 12:07 AM PDT Yes, I know.. SEC filed a letter on January 18 with 31 questions, urging current proposals to withdraw. And 5 out of 6 proposals did withdraw quickly - looking like bitcoin ETFs wouldn't happen in a long time. However, since then, 2 withdrawn proposals are not (yet) officially withdrawn on the SEC site. And it looks like they are still reviewing those. Also, CBOE responded to the SEC letter on March 23 showing at least some confidence from the exchange. An overview:
At first I thought they just made a mistake by not showing a "notice of withdrawal" for ProShares and Direxion. However, in the last update for ProShares, they are asking the public to comment on very specific questions. So that shows that they are still seriously considering that proposal. Overall, I would expect them to delay Direxion for another 90 days before/on April 24. And I am not sure how quickly they are supposed to give an update after the comment due date of Proshares and GraniteShares. I am also curious if anyone has other details/theories about why the "withdrawn proposals" aren't actually withdrawn. PS, all these ETFs are based on CME/CBOE bitcoin futures. Also I don't really care about ETFs, but it's fun to follow IMO (: [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 06 Apr 2018 08:29 AM PDT The percentage based system that ALL crypto exchanges use is absurd. I began trading crypto and have switched recently into equities due to the lack of volatility in the crypto markets. After trading on a broker such as interactive brokers, where fees usually end up being between 50 cents and $5 round trip depending on what you are trading, going back to the crypto model of percentage based trades is... well painful. If you are trading with any type of real volume (lets say 50k worth or more - which many crypto traders these days have due to the 2017 bubble) the fees are out of control. Can be way over $200 / trade if using market orders. While I understand this favors limit orders, on many exchanges (other than GDAX), limit orders can be pricey as well. Say you buy 75k worth of crypto. Using a market order at average .25% fee that costs you $187.50 to do. Then you set a stop loss, lets say 10$ below the current price. It gets triggered. You are eating a total of $375 worth of fees in addition to the money you lost from getting stopped out. In a traditional equity market, using market orders you need to deal with slippage. Thats it. Not slippage plus an absurd fee. These exchanges are getting away like bandits from this fee model. The first to implement a traditional fee model will have a huge advantage. Hell, I gladly pay $20 / trade, which is higher than any traditional equity broker (etrade, fidelity etc) over what we have now. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 06 Apr 2018 09:00 AM PDT I've charted my gameplan going forward regardless of whether we continue bear or reverse bull https://busy.org/@tradealert/bitcoin-market-bull-bear-gameplan What's your plan traders? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Little help for Indian traders where cryptocurrencies are virtually banned Posted: 06 Apr 2018 02:18 AM PDT India has virtually banned cryptocurrencies as the central bank of India as barred providing services to any company like exchanges dealing with cryptocurrencies like Bitcoin. When a similar incident took place in South Korea and China, how did the traders there managed to trade? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Am I calulating this correctly? Posted: 05 Apr 2018 02:39 PM PDT I'm interested in playing with margin with BTC on bitmex on testnet. I really just want to test it out and if it's fun, I'll play around with $500. I wanted to see if I'm doing this correctly: I got 3.2 BTC (~$22,000) on testnet and did a test order. I put in a sell short order for $500,000 contracts at $6,732 at 25x leverage (roughly 74.21 BTC). Let's say BTC goes down to 6,200 and I close my short. Does that leave me with a profit of 6.44 BTC? How are margin, trading, etc. fees taking into account? FYI, gauging by how nervous I'm getting just putting in these orders with play money on the testnet, I highly doubt I will go over 2x leverage. That said, it is fun to see how much I can make or lose. Thanks all. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Official Robinhood Crypto vs Circle Invest Analysis and Discussion Posted: 05 Apr 2018 02:30 PM PDT Hello, friends. I finally got access to Robinhood, so I'll try to list the pros and cons of each and then it'd be great to hear some community feedback as well. They both offer streamlined apps, instant deposits/trades, and no commission fees. Pricing data is below, along with what the "fees" would work out to be when compared to actual market values. But first though, I'd like to address all the people calling these apps "scams" because you can't withdraw your crypto to a wallet or have access to the private keys. Yet. I guess the question I'd ask is how distrusting of entities do you want to be. Admittedly, I didn't lose anything when Mt. Gox was hacked. Or Parity, or any other exchange. So I don't have the paranoia that many in the community have over losing their crypto. But I've determined that as a simple investor, I have zero use for having that kind of direct control over keys or coins. I'm ok with someone else holding them, and from what I understand both companies utilize cold storage to some degree, as well as other security protocols. Also their commission-free trading, although slightly above market price, is nothing to scoff at. Neither are their instant deposits and instant trades. If I REALLY want to transfer to an external wallet in the future, I'll just sell for fiat and do it through another exchange. Hopefully by then both companies will have an option to do that in the app. Robinhood's announcement about offering crypto was honestly what got me serious about investing. Up to that point I didn't like exchanges in their current state, especially their fees and convoluted verification processes. I'd been strictly a traditional equity investor up until late January when I read their press release, and I finally thought I'd found a platform I could start with. I got on the waiting list immediately, hoping it would be released in February as stated. Wishful thinking, I guess. February came and went, and I was angry that I'd checked the app every morning for a month straight for nothing. I was so worried that I'd "miss the moon," oh boy was I wrong. If I'd just waited until it was released, I actually could've saved a lot of money not chasing the dip. Anyway, buying experience: once you've been onboarded and allowed to trade crypto, it's as simple as selecting your coin and tapping buy. You'll be asked to enter an amount, followed by a user agreement and then in my case being told I couldn't do a market buy and had to do a limit buy. I'm still new to this scene and unclear about the specifics of this, but just be aware that Robinhood specifies market and limit orders and may restrict which you can use, depending on how much you're investing. I'd say overall it was a painless transaction and I started tracking my holding immediately. Graphs can be manipulated to show specific prices at certain times, and I'm sure many will appreciate the market vs limit order options. Circle Invest became available mid-March, and I was ecstatic about it because of my fury over Robinhood's betrayal. If Robinhood is supposed to be a bare-bones exchange, Circle is just a bone. It's extremely basic, doesn't allow limit orders and its "graphs" aren't useful for anything besides looking at the squiggly line and saying hmmm, that looks bearish. Having said that, onboarding could not have been faster or easier, and I was hodling coins less than 5 minutes after I downloaded it. Circle allows for $10,000 of instant deposits from your bank a week, vs Robinhood's $1,000 a day. Circle's prices are also higher than Robinhood's. At the time of writing here are their prices and fees compared to the independent BitcoinAverage, which were recorded as simultaneously as possible: BitcoinAverage BTC price: 6778.55 Robinhood Crypto BTC list price: 6774.94 RC BTC buy price: 6784.81 (.0009% fee) RC BTC sell price: 6761.09 (.0026% fee) Total fee: .0035% Circle Invest BTC list price: 6842.52 CI BTC buy price: 6842.52 (.0094% fee) CI BTC sell price: 6700.89 (.0116% fee) Total fee: .021% BitcoinAverage ETH price: 376.71 RC ETH list price: 377.20 RC ETH buy price: 377.86 (.0031% fee) RC ETH sell price: 376.63 (.0002% fee) Total fee: .0033% CI ETH list price: 381.31 CI ETH buy price: 381.31 (.0122% fee) CI ETH sell price: 373.74 (.0079% fee) Total fee: .0201% According to my recorded data, Robinhood truly has lower fees than anyone else on the market. Period. Feel free to replicate my results if they seem disingenuous, although bear in mind it's a tad difficult to capture numbers from 3 sources simultaneously. Note: the first attempt to compile these numbers was cut short when I realized Circle Invest had blocked me from depositing fiat and buying/selling crypto due to my account being "under review." From what I could tell even though they'd confirmed a withdrawal from my bank, they never actually did it and therefore I was trading with imaginary money that they didn't actually have access to. Not my fault, clearly system error, but they locked my account. Maybe I'd been making too many buys in a short time for their taste and they wanted to check me out, but this process took much longer than expected and I wasn't able to trade or withdraw from March 28th until April 5th, until someone finally "manually reviewed" my account after I complained. Definitely an annoyance. So what has your experience been with either of these platforms? Which do you prefer? Which do you think people should use? How do their prices match up with your exchange of choice? Do you think they're both stupid because you don't control the private keys and don't trust anyone? Fire away! I think once these platforms release more coins and allow for wallet transfers both in and out, we have a couple winners on our hands. Disclaimer: Religious investor in Ethereum and Flippening disciple. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 05 Apr 2018 11:40 PM PDT I used to click on ideas on top of the tradingview screen, and I was able to see all ideas from all of the users. However, for a while I can only see ideas of the users that I follow. How can I fix this? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Is there Any perspective ICO in near future??? Posted: 06 Apr 2018 03:08 AM PDT received a salary and are thinking about investing in a promising project, but there are so many of them that even I do not know what real and what is scam. I will be very grateful for your answers and recommendations. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How long is Bitstamp taking for account verifications these days? Posted: 05 Apr 2018 07:20 PM PDT Is it still as bad as it was in December? It would be great it someone who got their verification done there recently share their total turnaround time. Many thanks! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Track Bitcoin sentiment from 50k articles using machine learning Posted: 06 Apr 2018 01:17 AM PDT https://www.quikfo.com/search.php?q=bitcoin I am not the creator, someone posted this about stocks in r/investing and it tracks also bitcoin. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Technical Bulls against Fundamental Bears. Posted: 05 Apr 2018 11:06 AM PDT Hi traders, In this article I give you my (bearish) prediction for April and I tell you why I think so many traders out here are still in denial of this bear trend. https://busy.org/@tradealert/bitcoin-technical-bulls-against-fundamental-bears How low should the price be for HODLERS to stop HODLING? Cheers :) Dan [link] [comments]  |
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