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    Friday, June 8, 2018

    [Daily Discussion] Friday, June 08, 2018 Bitcoin Markets

    [Daily Discussion] Friday, June 08, 2018 Bitcoin Markets


    [Daily Discussion] Friday, June 08, 2018

    Posted: 07 Jun 2018 09:06 PM PDT

    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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    [Altcoin Discussion] Friday, June 08, 2018

    Posted: 07 Jun 2018 09:06 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Cryptomeximent - Realtime sentiment site for communities

    Posted: 07 Jun 2018 02:25 PM PDT

    Wasn't really sure how to word the title without it sounding like a weird shill. Cryptomeximent has been developed for a couple of months in testing on the BitcoinMarkets slack using the users over there. It's been going strong with around 100 users quite nicely so it's time to give it to a new community. Makes sense to open it to the subreddit of the slack as the first one.

    How is this different from the position bot/flair game?

    If you're on BitMEX you can enter a read-only api key and it will automatically verify and update your positions. No more telling a bot what you're doing, no more globally shouting across the internet what your stop and liquidation levels are. Meximent only shows average entry price and if you're long or short. There's no leverage or position size information being leaked.

    Why should I use it?

    It's secure, it has a monthly leaderboard, it's verified (for BitMEX positions). If you want to show off your trading skills this is definitely the place to do it. You can even create your own group on the site that is just for you and your friends if you don't want to be seen on the global positions page.

    Why did you make it?

    For fun. On the slack community there were a load of traders that I felt didn't have skin in the game and wanted a way to prove it. So a couple of months back I made this site and they've now mysteriously left. Then I figured it would be useful for other communities to do the same, and here we are.

    Also I'm a bad trader but a pretty decent coder. Don't judge me on my trading skills.

    If you want to join then feel free. On the settings page there's a Communities tab where you can join the Bitcoin Markets Reddit community. Or you can be listed only on the Global page, up to you. Feel free to ask me any questions.

    submitted by /u/Deif
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    Smart Contracts in Banking: To Reinvent Financial Services

    Posted: 08 Jun 2018 03:43 AM PDT

    Currently, numerous myths, speculations, and inadequate buzz surround Smart Contracts in Banking. So, let us clear the clouds and tell you what changes can smart contracts in banking bring, how they could prove to be beneficial for banking, and how they could transform the way the modern financial institutions operate.

    read more at-http://blockchain.oodles.io/use-smart-contracts-in-banking/

    submitted by /u/anubhav27
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    Libertarian National Party adds Blockchain Committee

    Posted: 07 Jun 2018 02:23 PM PDT

    People in this sub may not subscribe to Libertarian politics, but it shows progress for this industry that the third political party is taking is seriously and wants to start taking donations in crypto. Check out the link below.

    https://www.lp.org/blockchain-committee-invites-lp-member-input/

    submitted by /u/namaxwe1
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    BTC OTC WAR STORIES - I fell in bass-ackwards

    Posted: 08 Jun 2018 12:17 AM PDT

    We all know what it [OTC] means, but do we all know what that entails? I certainly do!

    I've been a vocal advocate for Bitcoin since early 2011. I've also been part owner of multiple mining operations. I have close friends that operate and/or work in tandem with some of the largest mining operations in the world. Approximately 1 year ago I received a call from an old childhood friend, now working with a hedge fund.

    That's when I unwittingly advanced to the new front-lines of the battle...

    __________________________________________________________________

    Hedge Friend - Hey Knight, I recall you posting on social media in the early 2010's about BTC. How's that been going for you?

    Me - Well pretty good I suppose. Aside from spending some coins on silly things like a PS4 video game for a PS4 my gf got me for my birthday for like 0.3 BTC on TigerDirect.com as an experiment, I'm rather proud with myself. I certainly lost a few dozen "friends" along the way but look at me now - the aliens came!

    Hedge Friend - (disingenuously) That's funny. So the reason I'm calling is because the Company I work for is looking to scoop up a massive amount of BTC OTC style & we have no idea how to go about making it happen. I recalled you posting forever ago so was hoping you might be able to point us in the right direction?

    Me - Actually, I might know a few people I could reach out to for you. Will get back to you ASAP.

    __________________________________________________________________

    I called one of my buddies that I knew to operate tens, possibly hundreds of millions of dollars worth of mining equipment and ran the Q by him. To my astonishment, he was overly enthusiastic about my inquiry!

    Mining Friend - BRO, you have no freaking clue! We've been trying to find close contacts to help us diversify for ages!

    The call went on with the usual preliminary OTC interrogatories one would expect...

    Fast-Forward to now

    • I've now helped facilitate the closing of north of a dozen OTC deals since then. :)
    • I've experienced the torpedoing of hundreds, always with a legitimate party on at least 1 side.
    • After making a conscious effort to tap into every corner of every outlet within my reach, I've graduated to a position where I'm now having "brokers" from one hemisphere introduce me to "brokers" from another hemisphere, and in many occurrences, I actually already knew that party.
      • Side-note; even though pre-existing relationships can sometimes render an NCNDA null & void, I honor the introduction & allow said introducing Party the opportunity to have a seat & plate @ the closing table if I truly wasn't aware of the new deal the introduced Party recently had. Because - INTEGRITY.
    • I've forged legendary relationships with some people I truly admire & look up to in ways.

    I have many purposes for launching this post into the WWW. I.e.

    • I have a black-list & I'm not afraid to share it.
    • I get trolled @ least 3X/week w/ my current network and their peers, I'd like to raise that to 5 or 6X/week. :P
    • The stories I could tell... I've seen some of the most inane attempts of debauchery in this part of the sector - they're simply too entertaining for me to keep to myself!
    • I need an outlet to vent my frustrations, this is cheaper than a shrinks couch.
    • I'm genuinely curious to hear what kind of stories/scams I have yet to experience that surely some of my readers have already endured.

    Let's start with one of the latest cons;

    There's a character floating around this space that goes by the name of "Jack". He's telling victims he has the ability to have "temporary access to a sellers wallet" via blockchain.info. He then goes on to offer a video for POC, even a live video-conference call where he can log in and show the sellers balance in real-time. This "seller" allegedly has just north of 341K BTC to sell. The con is compelling if you don't know the ins-outs of the blockchain.info app for iPhones/Androids = I do.

    Jack will log in and show the dashboard where it depicts a balance reflective of 341k BTC. He then (quickly) jumps to the "transactions" tab and scrolls down through the most recent 20-30X transactions. THEY'RE ALL MICRO-SATOSHI TRANSACTIONS! What many people aren't aware of is that you can upload wallets on the app that you don't have access to! It highlights in small text underneath "WATCH ONLY". So after calling Jack out on his shenanigans in a text, he ghosted me!

    Less than one week later, I get pinged from a broker-chain; (I'm both a Buyers Mandate & Sellers Mandate for more than 1X party on both sides. As such, it's common to receive leads for both sides).

    Brokers - Knight, we've got a live one. He claims to have access to over 300k BTC and is willing to do a live video for a satoshi/wallet test.

    Me - Oh really? This sounds eerily familiar. What's his first name?

    Brokers - "JACK"

    Me - Let's coordinate a group video conference call!

    I then go on to explain to them what I went through via the "Jack" I met one week prior and express concern it's probably the same perpetrator.

    ___________________________________________________

    I change my username on the video-chat platform prior to joining in so as to not thwart my attempt at catching this fool in the same con he just tried on me.

    We go live (I have my video camera blocked so you can only hear me - I also distort my voice to further mask my identity.)

    Jack turns on his camera and it's aiming at the same white table that's in the video he made for my Company. His stringy fingers holding a smart-phone and he quickly initiates his ploy. I let him get as far as showing the transaction history and interrupt right as he taps back to the dashboard page (remember, he doesn't want us to see the feed too far down because it's going to show a bunch of transactions from the "watch only" wallets - which would prove he DOESN'T have access that many BTC).

    Me - JACK WAIT! Please go back to the transaction tab, I'd like to see you scroll further down than just the top 30 or so transactions.

    Jack - I can't, the seller won't let me.

    He then locks the smart-phone and there's an awkward silence. My team and I start drilling him HARD about wondering whether or not he realizes what he's doing is illegal. That it's blatantly fraudulent and in a best case scenario, he'd get in trouble with the authorities... In a** wors**t case scenario, there are people out in this world with the kind of money he's trying to have wire into a random bank account that would.... well, you know... Surely some of you guys have seen one of the latest episodes of Billions for Season 3 - What do you think John Malkovich's character "Grigor" would have done to a guy like Jack?

    We wrap it up by giving him a final warning & tell him we better never hear of this story ever again. One of my Brokers politely asks him to leave the conference call so we can recap WTF just happened. He exits. Then he sends a text message in a group chat w/ one of my Partners and myself. Then sends a redacted screen-shot depicting blurred out names on his phone yet leaving the last message sent to each one to be clear as day - the same message he sent to us in the group chat...

    The direct message.

    His direct text.

    His feeble attempt at convincing us he's done playing games.

    His feeble attempt at convincing us he's done playing games.

    Enough about me, let's hear some of your war-stories!

    Please feel free to submit non-refundable satoshi's to:

    BTC - 1GHqoMLJjjB12umFTeXjZr67GVxjY9yXsg

    submitted by /u/KripDoughKnight
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