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    [Daily Discussion] Friday, August 03, 2018 Bitcoin Markets

    [Daily Discussion] Friday, August 03, 2018 Bitcoin Markets


    [Daily Discussion] Friday, August 03, 2018

    Posted: 02 Aug 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.

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    submitted by /u/AutoModerator
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    [Altcoin Discussion] Friday, August 03, 2018

    Posted: 02 Aug 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.

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    submitted by /u/AutoModerator
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    NYSE Owner Announces Bitcoin Venture With Starbucks, Microsoft - Launch of physical futures contract planned for November

    Posted: 03 Aug 2018 07:18 AM PDT

    Bloomberg is reporting that Intercontinental Exchange Inc. has announced that they have created a new company that is going to launch one-day physically-delivered Bitcoin futures in November and that they want to offer merchant and consumer applications.

    Article URL: https://www.bloomberg.com/news/articles/2018-08-03/nyse-owner-announces-bitcoin-venture-with-starbucks-microsoft

    Press release from ICE: https://ir.theice.com/press/press-releases/all-categories/2018/08-03-2018-133022149

    From Bloomberg's article:

    One of the world's biggest exchanges is finally diving into Bitcoin, teaming up with Starbucks Corp. and Microsoft Corp. and announcing a futures contract on the cryptocurrency.

    Intercontinental Exchange Inc., which owns some of the biggest futures markets as well as the New York Stock Exchange, said it's creating a new company called Bakkt that aims to "create an open and regulated, global ecosystem for digital assets," according to a statement Friday.

    The venture hopes to introduce a one-day futures contract in November that differs from derivatives already offered by U.S. competitors CME Group Inc. and Cboe Global Markets Inc. because it's physically delivered, meaning owners of the contract will get Bitcoin, not cash, upon expiration.

    Fortune is also reporting on this with a long-form article: http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/

    submitted by /u/dnivi3
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    The OkEX wall gets eaten up seconds after it's moved down by settlement. This heavily hints that this whole situation was indeed liquidation engine abuse.

    Posted: 03 Aug 2018 01:40 AM PDT

    Follow up to this thread i made a couple of days ago : https://www.reddit.com/r/BitcoinMarkets/comments/93k2h9/could_the_400_million_liquidation_have_been_an/

    If what i described was true, that contract holder needed the liquidity to exit his shorts. After the liquidation formed by the sell walled was moved back, courtesy of the socialized loss/insurance fund, this was the perfect opportunity for that manipulator to hit his own wall and get the liquidity to exit.

    A couple minutes before settlement, i was like "If the wall gets eaten up right after settlement, this heavily confirms my theory". And guess what ? 20 sec after settlement, the wall gets eaten up and more, and then aa full retrace to pre-settlement price occured.

    Of course, it could have been another person, who, knowing this was coming and wanting to get a big long exposure, took advantage of this wall to enter a big position, but somehow i highly doubt it. I'm almost certain this was socialized loss abuse from a malevolent trader

    I don't know if OkEX realized it could have been it, but I hope they'll do the maximum in order for this to not happen again. I know they are changing their Limit Risk rules, but for example if someone split their position on multiple accounts, this could still be done theorically.

    I simply hope that OkEx will take action and that the appropriate persons will be punished.

    submitted by /u/Mishichi
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    Bitcoin Is Coming to Starbucks and May Reach Your 401(k) Through Partnership With Microsoft and Wall Street Powerhouse

    Posted: 03 Aug 2018 09:15 AM PDT

    "A new startup created by one of the biggest financial institutions on Wall Street aims to bring Bitcoin to Starbucks and introduce a groundbreaking new cryptocurrency futures contract.

    Intercontinental Exchange (ICE), owner of the New York Stock Exchange and some of the largest futures markets, says it's launching a startup called Bakkt in collaboration with tech giant Microsoft. Bakkt is designed to create a regulated, global ecosystem for digital assets.

    As reported by Bloomberg, the new company aims to "introduce a one-day futures contract in November that differs from derivatives already offered by U.S. competitors CME Group Inc. and Cboe Global Markets Inc. because it's physically delivered, meaning owners of the contract will get Bitcoin, not cash, upon expiration.'"

    Source: https://dailyhodl.com/2018/08/03/bitcoin-is-coming-to-starbucks-and-may-reach-your-401k-through-partnership-with-microsoft-and-wall-street-powerhouse/

    submitted by /u/Shrenopi
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    MtGox confirms creditors will receive BTC & BCH

    Posted: 03 Aug 2018 06:17 AM PDT

    "We are of the opinion that most of the assets, including approximately 166,000 BTC and 168,000 of BCH and other derivatives currently held by Mt. Gox, should be paid to creditors at the time of the first payment."

    "The revised policy stated that the first payments to creditors are expected to start in May or June 2019, if the rehabilitation plan can be approved, that is"

    This is really big news as there is most certainty 166,000 BTC will enter the market and circulation. If this were to happen, and the creditors decide to market sell, once they have received.

    It is very plausible BTC would have one of the biggest corrections ever, - potentially worse than the 2014.

    What do others think?

    submitted by /u/Balkrish
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    Bitmex - how to set up take profit from untriggered order?

    Posted: 02 Aug 2018 07:00 PM PDT

    I have just set up a stop market short order. The triggering price is lower than the current market price so the order is not yet active. I would like to set up two take profit orders if the price goes lower. How do I do that?

    Current price: 7333
    Order triggering price: 7210
    Take profit targets: 6850 and 6810.

    I will be grateful for your tips.

    submitted by /u/Aaleksander
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    You can buy BTC now at 1/2 price - How Many Would You Buy?

    Posted: 02 Aug 2018 05:56 PM PDT

    If you could buy any amount of BTC right now from 0.001 up to 200 BTC at 50% of current price - what % of your cryptos would you spend?

    So to be clear, BTC today is at 7600, you can buy at 3800.

    Okay but before you reply theres a catch:
    - you can sell those BTC for next 2 weeks but only on same price or lower (and you have no control where its gonna go)
    - after 2 weeks you may lose from 0% up to 100% of the BTCs.
    - the chances of winning (keeping cheap BTC) or losing (losing from 1% to 100%) are not 50/50 like in hi low. You cannot predict the risk but in high/low game it either win or lose, while here you can lose just portion.

    To make sure we understand each other.

    You can buy right now 1 BTC for 3800 USD and in 2 weeks have from 100% of them up to 0% with all other numbers possible. So for example in 2 weeks instead of 1 BTC you may have 0,5 BTC which, since you bought at 50% still makes money. But you can also have 0.

    So now - what % of your crypto would you risk in such situation (if any).

    submitted by /u/kingscrown69
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