[Daily Discussion] Thursday, August 02, 2018 Bitcoin Markets |
- [Daily Discussion] Thursday, August 02, 2018
- I work for a professional crypto trading firm. Ask me (almost) anything!
- XLM, BTC, Bitcoin Cash win June, XLM takes overall lead (EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - Month Seven - Down 63%
- BitcoinMarkets to host a verified institutional investor for an AMA on 8/2 at 12pm EST
- Introducing faster transactions and GBP support for UK customers
- [Altcoin Discussion] Thursday, August 02, 2018
- How to Assess Cryptocurrency Market Sentiment?
- displaying private keys in electrum from trezor
| [Daily Discussion] Thursday, August 02, 2018 Posted: 01 Aug 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| I work for a professional crypto trading firm. Ask me (almost) anything! Posted: 02 Aug 2018 07:56 AM PDT Hello! I work for a company which primarily trades crypto currencies. I have seen a lot of talk about various 'institutional' clients or 'wallstreet money' waiting on the sidelines ready to jump in. I'd love to field questions about the current pains and sentiments actual firms are feeling now to hopefully shine some light into this dark mysterious side of crypto. I wont be answering anything too specific since it is a smaller space and I have no intention of revealing anything which could get me in trouble with my employer. For this, I'd appreciate some level of understanding if I dodge specifics. This is primarily to provide knowledge to the subreddit about what the institutional side is feeling right now. I will answer questions starting at 12pm EST. [link] [comments]  |
| Posted: 02 Aug 2018 06:38 AM PDT tl;dr: July recoups some of June's losses, but still painfully down for the year. Also, Stellar has a fantastic month and is now the best performing crypto of the experiment. Click here for full blog post complete with charts, graphs, and charts of graphs. The Experiment: Instead of hypothetically tracking cryptos throughout the year, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. It began as a lazy man's Index Fund (no weighting or rebalancing), but I'm starting to move away from that terminology as things have changed quite a bit since January 1st, 2018. Plus the term "Index Fund" seems to bring out the shills trying to sell their own Crypto Index Fund product. My experiment is less technical, more fun (for me at least), and hopefully still a proxy for the entire market- or at the very least an interesting snapshot of the 2018 crypto space. I'm trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet. The Rules: Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment 365 days. Hold only. No selling. No trading. Report monthly on blog. Month/Episode Seven - The Force Awakens. But Not Really, Still Down 63% There's been an awakening - have you felt it? Well, maybe not a full on awakening, but we're finally seeing a bit of upward movement. I always enjoy the these updates, but have to admit it's a bit more fun to share when there's at least some green on the board. July Winners - Stellar, Stellar, Stellar! What a great month for the Little Crypto Who Could. After falling 37% in June, Stellar has regained last month's loses and then some, posting a 47% gain in the last thirty days. It has also moved up two positions in July from #8 to #6. Bitcoin finishes second this month with an impressive 20% gain, and Bitcoin Cash added 4% landing it in third place. July Losers - IOTA performed the worst this month, down 10%. It wouldn't be so bad had** IOT**A not got hammered in June as well (it was down -44% last month). All others either broke even or lost less than 10%. Not bad considering the year we've been having so far. Overall update – Stellar back in the lead with a vengance. NEM at the bottom as usual Stellar is the only crypto approaching the break even point, down 13% on the year and looks to be within striking distance of the price it held on the 1st of January 2018. It is the best performing of the original 2018 Top Ten by far. It's not even close. A distant second is Ethereum and Bitcoin both down over -40% since the begining of the year. NEM still holds its familiar position at the bottom: it has the dubious distinction of worst performer this year, down -83%. That means my initial $100 investment is now worth about $17 bucks. Ripple, Cardano, and DASH aren't doing much better, each down around 78% on the year. In terms of movement, Stellar again made the most progress this year, moving up four slots from #10 to #6 since January 1st, 2018. Sixth place is back where it sat the end of January. The award for biggest drop goes to NEM who dropped from #8 at the beginning of the year to #16 today. Only NEM and Dash have fallen out of the Top Ten. They have been replaced by EOS (now at #5) and Tether (currently at #10). Total Market Cap for the entire cryptocurrency sector: July saw the total market cap gain approximately $15B. Definitely positive news, but for a bit of perspective: from January 1st the market has lost -52% or just over $300 billion in value. Bitcoin dominance: Bitcoin dominance increased to a high for the year of nearly 48% this month, up about 3% from the previous high in March. Overall return on investment from January 1st, 2018: My $1000 initial investment is now worth about $367, down -63%. Not the lowest I've been this year, but close. I'm back to where I was at the end of March, up a little from the end of June. Implications/Observations: Although the last week or so has seen a downturn, the crypto space did fairly well in July and fared much better than it did in June. Bitcoin crossed the $8k level and while it's come back down to the $7,500 range, at the end of June it was closer to $6,300. This month, Stellar really put some space between itself and the rest of the field. This is unsurprising at this point - without exception throughout the experiment, every single month has been won by either Stellar or Ethereum. Although Stellar has significantly widened the gap this month - it's down -13% on the year while Ethereum and Bitcoin are down -40%. Again, the approach on holding equal amouts of only the Top Ten continues to be a losing strategy. While the overall market is down -52% from January, the cryptos that began 2018 in the Top Ten are down -63% over the same period of time. This approximately 11% differential is about the same as last month, but that gap has generally continued to increase as the year goes along. At no point in the experiment has this investment strategy worked: the initial Top Ten continue to underperform compared to the market overall. In months like July where Bitcoin has done well, I'm curious how it would have turned out if I had tried to weight the Top Ten like a proper Index Fund. Maybe I'll run the numbers and share the results. I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. As of August 1st, it's up 5.5% for the year. Not bad. Conclusion: July saw some positive price movement in the crypto space. In terms of overall market cap, it's recovered nicely from the June lows and now sits higher than March as well. July saw some days where the market cap got back over the $300 billion mark. Let's see if we can have more of those days as we progress through the summer. Thanks for reading and the support for the experiment. I hope you've found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. What do you think about the way the market is going this year? Do you think crypto bottomed out in June? Catch up with previous experiment updates: May Recap: down -51% April Recap: down -37% March/Q1 Recap: down -63% February Recap: down -32% January Recap: down -20% [link] [comments]  |
| BitcoinMarkets to host a verified institutional investor for an AMA on 8/2 at 12pm EST Posted: 01 Aug 2018 04:41 PM PDT /u/InstitutionThrowAway trades in multiple cryptocurrencies at an active trading desk. This person is responsible for all interaction with exchanges, profit and loss, financial and volume analysis, and strategy at their organization. The trading desk has been open for a substantial period of time. This AMA aims to answer questions relevant to /u/InstitutionThrowAway 's professional experience, including questions about the CBOE ETF application and other ETFs. They also expect to talk about the intricate nature of the cryptocurrency space as it relates to exchanges, OTC partners, custodians and financial analysts. They have experience with the futures markets as well; they are trading futures vs their BTC and have detailed knowledge about settlement and clearing for these products. Look for /u/InstitutionThrowAway AMA tomorrow, 8/2 at 12pm EDT (follow link to view in your timezone), here at /r/BitcoinMarkets . [link] [comments]  |
| Introducing faster transactions and GBP support for UK customers Posted: 02 Aug 2018 03:26 AM PDT Unbelievable! I heard whispers that this feature would be implemented a while back and a mere 2 months ago made an enquiry for further details to the Coinbase support team. I was informed that: "This is a really interesting request. Please note that as of the moment, it's not something we currently offer. Most new features and improvements to Coinbase come directly from feedback like yours, so it's very valuable to us. I've recorded your request so that it can be reviewed by the product manager when planning which features to build next". I have a Euro account in place to make withdrawals. The rate I get is bank rate, usually 0.02 EUR less than market price. Bloody nuisance, had I had my enquiry confirmed I could have held tight and saved quite a few quid. Whinge whinge moan etc, is anyone even listening? Well Coinbase should be, considering the amount of money that has flowed through there from my account over the past 5 years. [link] [comments]  |
| [Altcoin Discussion] Thursday, August 02, 2018 Posted: 01 Aug 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| How to Assess Cryptocurrency Market Sentiment? Posted: 01 Aug 2018 10:10 PM PDT Look at the Fear & Greed Index (https://alternative.me/crypto/fear-and-greed-index/). It indicates the emotional state of Bitcoin traders, based on six factors: volatility, market momentum/volume, social media, surveys, dominance, and trends. A value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed." "With our Fear and Greed Index, we try to save you from your own emotional overreactions. There are two simple assumptions: Extreme fear can be a sign that investors are too worried. That could be a buying opportunity; When investors are getting too greedy, that means the market is due for a correction," as explained by index creators. In 2018, the maximum level of fear occurred on February 6 and stood at 8 points. The maximum level of greed was 74, on February 17 and February 24. At the moment, the index shows 48, which is a "neutral" value. flashcards[link] [comments]  |
| displaying private keys in electrum from trezor Posted: 01 Aug 2018 05:10 PM PDT im trying to claim all of these random bitcoin hard forks that i held btc during... so i transferred all my btc from my trezor and am trying to use the 24 word seed to find my private keys to claim my forked coins. so when i follow these steps here: https://www.reddit.com/r/BitcoinAirdrops/comments/7u5r4f/guide_to_claim_your_forked_coins_from_trezor/ my electrum wallet displays my bitoin addresses from my trezor, but only the addresses that are not a part of my passphrase addresses on trezor.. in other words when you are prompted to enter your passphrase on trezor directly after entering your trezor pin, if you just click enter without a passphrase, those are the addresses that i am seeing in electrum. ive tried all i know how to try to get the addresses displayed that need a passphrase to show on my trezor, but i cannot get them. this is a sample of the list that first shows that is my trezor list WITHOUT a passphrase.
THESE are the addresses that i need to have displayed, the ones that are displayed on my trezor WITH a passphrase
how do i find my private keys for my addresses that are part of a passphrase i am using on trezor? also tried https://iancoleman.io/bip39/ which i like better, seems easier to see everything. this also displays the exact addresses electrum was, the ones i included above, the ones WITHOUT a passphrase needed to see. [link] [comments]  |
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