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    Cryptocurrency Daily Discussion - May 2, 2019 (GMT+0)

    May 02, 2019

    Cryptocurrency Daily Discussion - May 2, 2019 (GMT+0)

    Daily Discussion - May 2, 2019 (GMT+0)

    Posted: 01 May 2019 05:13 PM PDT

    Welcome to the Daily Discussion. 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 exercise utmost caution before acting on any trade tip mentioned here.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.
    submitted by /u/AutoModerator
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    Dear Justin Sun, this is not a "comprehensive developer guide", this is just a list of where to buy Tron.

    Posted: 01 May 2019 12:03 PM PDT

    Dear Justin Sun,

    This is not a developer guide, this is just a list of where to buy Tron. You also conveniently listed Binance first (out of alphabetical order). You are a fraud.

    Edit: Lol he deleted the Medium post.

    /u/phillipsjk posted link to the Archive https://archive.is/50Uxm

    submitted by /u/M0untainDew
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    USDT Bitfinex...

    Posted: 02 May 2019 01:51 AM PDT

    Square nearly doubles Bitcoin Revenue in Q1 Year over year

    Posted: 01 May 2019 02:37 PM PDT

    Square released their financial results and 10Q for the first quarter of 2019. In the financial statements, they break out revenues from Bitcoin which surged to $65,528,000 from $34,095,000 in the prior quarter.

    https://www.sec.gov/Archives/edgar/data/1512673/000151267319000007/q1fy19squareinc10-q.htm

    ​

    They are growing revenues in that space very rapidly. However, it's not exactly a hugely profitable business yet as of that revenue, only $832,000 was net profit. Still, interesting to see how much activity is happening on the Square app.

    submitted by /u/bannercoin
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    Central Banks Use Blockchain for First Time to Swap Currency

    Posted: 01 May 2019 11:09 PM PDT

    U.S tax payers can now get tax refunds in bitcoin for a $30+ USD fee

    Posted: 01 May 2019 09:49 AM PDT

    Cash App bans users for transferring BTC to non-Cash App addresses

    Posted: 01 May 2019 12:48 PM PDT

    Posted as a friendly warning!

    MESSAGE FROM CASH APP:

    After a recent review of your transfer of funds, we detected the use of Cash App for activity in violation of Square's Terms of Service. As a result, you will no longer be able to use Cash App to send or receive payments.

    We are also exercising our discretion under Sections 4 and 5 of the Cash App Terms of Service in the decision to block or reverse your transfer of funds. For security reasons, unfortunately we cannot provide more details regarding our decision.

    Visit the Square website for more information regarding the Cash App Terms of Service.

    Thank you for your cooperation.

    ME:

    Based on some basic internet researching people are claiming this type of ban is based on purchasing BTC and transferring it to another address (in my case coinbase.com). I made 3 transfers from the Cash App to Coinbase.com in BTC. They offered no other details here and did not even warn me 1.) that I was being banned or 2.) to not engage in this type of transaction. They granted me the ability to purchase BTC, transfer it out, and banned me for it. Can't even use the "cash" USD/fiat portion of the app anymore, which angers me quite a bit since I've been using this app since 2013

    Please learn from my.... "mistakes"

    Edit: Sent CashApp BTC to Binance once and Coinbase 2 times.

    submitted by /u/live9free1or1die
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    Should I sell my XRP for BTC ?

    Posted: 01 May 2019 08:07 PM PDT

    I've had XRP since .20 in 2017 It was suppose to be a "long" .... but

    If I sold it all of it rn I could pretty much have 1 BTC. Not too long ago it was almost 1.5 BTC.

    All the talk with it being a security, and shwartz selling his xrp coupled with the fact that bitcoin has finally got its hash wars figured out and tether finally busted has me thinking of selling.

    Then I google XRP and it's like "NASDAQ, .... blah blah blah , big things to come "

    And it's the number 3 crypto.

    .... But no one besides xrp army seems to give any thoughts about xrp....

    Should I just sell for BTC ?

    submitted by /u/MyRedditGamertag
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    2 Crypto Startups Want to Put 10 Million Used Cars on a Blockchain - CoinDesk

    Posted: 01 May 2019 12:01 PM PDT

    Wirex is the best choice for me so far. Some bad experiences with wirex?

    Posted: 02 May 2019 02:04 AM PDT

    Okay, so I created my wirex account for the usage of the wirex card, you have btc wallet in your wirex account app and you can exchange instantly btc for euros there. I just wanted to have an quick option to use my crypto in real life situations quickly if needed, turns out that it is much cheaper bridge between fiat and crypto then let's say coinbase, if you use card purchase it will cost you about $3 per $100 in fees at coinbase and $1 per $100 at wirex. Plus at the card is 0,5% crypto back. Some arguments against wirex?

    submitted by /u/BaldSoust
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    BTC & ETH trading on E*TRADE: When, exactly?

    Posted: 02 May 2019 12:11 AM PDT

    Rumour has it that E*TRADE will soon support trading crypto directly on their platform. I've personally contacted them and not received a definite answer as to when it will happen. That would certainly move the market if they jump in, so I'd like to know if anyone has good leads on any solid info.

    submitted by /u/reddity-mcredditface
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    Crypto Brahma leverage traded some pool funds and lost $270k of investors' money

    Posted: 01 May 2019 08:19 AM PDT

    Absolute disaster. 1700 ETH liquidated. Leverage trading is an anxiety nightmare.

    He says he'll be back in five months to repay it with interest.

    Anyone get caught up in this?

    He's deleted Twitter, Discord, Telegram.

    I don't know much about the guy. Is he known, or could he in theory just disappear?

    The email he sent is here: https://pbs.twimg.com/media/D5Z2wbvWwAAdS_5.jpg

    submitted by /u/theniath
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    Update projects

    Posted: 02 May 2019 03:08 AM PDT

    I'm now 2 years into crypto and the last couple of months there seems to be a lot of technical enhancements in a lot of projects. Before I put a new load of funds in crypto I would ask you which coins you like, prefer, follow,.. and why in short. The market is getting to big to follow all the coins individual..

    submitted by /u/steven_ger
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    The Gaming Multiverse: Stormwall - The Shield That Moves Across Universes - Enjin Asset (~1 minute video)

    Posted: 01 May 2019 02:09 PM PDT

    Here you'll find a video giving a little information about one of the newest assets for use across the Enjin Multiverse.

    Not many are left, these days—most were destroyed in a series of devastating civil wars that plagued and ultimately fractured the Sovereignty of Hyperion-Helix, the first multiverse-spanning empire that dominated hundreds of worlds, spanning dozens of realms.

    Initially used by the Sentries, an elite military force sworn to protect the Empire to their last breath, Stormwall shields are now scattered through the multiverse—many are hidden under torched, ancient ruins of broken worlds, some are sold at incredible prices at heavily guarded antique shops, and only a handful are in possession of those rich—or brave enough to acquire them.

    (source)

    submitted by /u/pale_blue_dots
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    EXPERIMENT - Tracking Top 10 Cryptocurrencies for Two Years (2018 & 2019) - Month Sixteen - Down 82%

    Posted: 01 May 2019 08:08 AM PDT

    EXPERIMENT - Tracking Top 10 Cryptocurrencies for Two Years (2018 & 2019) - Month Sixteen - Down 82%

    Three good months in a row, still down -82%

    Click here for full blog post with all the charts

    tl;dr - April marked the third positive month in a row. Still down -82% over life of experiment. Bitcoin retakes overall lead from Stellar. Bitcoin Cash wins best monthly performer for the first time since the experiment began 16 months ago.

    The Experiment:

    Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. Think of it as a lazy man's Index Fund (no weighting or rebalancing), less technical, more fun (for me at least), and hopefully still a proxy for the market as a whole - or at the very least an interesting snapshot of the 2018/2019 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.

    I have also started a parallel project: on January 1st, 2019, I repeated the experiment, purchasing another $1000 ($100 each) into the new Top Ten cryptos as of January 1st 2019.

    The Rules:

    Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment two years. Hold only. No selling. No trading. Report monthly.

    Month Sixteen - Down 82%

    ​

    https://i.redd.it/4hhg1jru7mv21.png

    April marked yet another solid month - we've now seen three strong months in a row. While 6 out of the 10 were flat or slightly down, the remaining four cryptos more than made up the difference, gaining between +12% and +49%.

    Ranking

    Just two cryptos moved this month. Stellar dropped from #8 to #9 and Bitcoin Cash moved up two spots from #6 to #4 after a very strong April.

    NEM, Dash, and IOTA are Top Ten dropouts - they have been replaced by EOS, Binance Coin, and Tether. NEM holds the dubious distinction of being the first crypto in the experiment to have fallen out of the Top Twenty.

    April Winners - Here's something you don't see everyday: Bitcoin Cashabsolutely crushed the field this month, up +49% in April. In fact, this was the first time Bitcoin Cash has ended a month outperforming its Top Ten peers since I began the experiment 16 months ago. Bitcoin finished second this month, up nearly +30%

    April Losers - Stellar had a tough April, finishing the month down -8% and dropping a place in the ranking. The rest were either flat or down a few percentage points - no big deal for crypto.

    For those keeping score, here is tally of which coins have the most monthly wins and loses during the first 16 months of this experiment. Most monthly wins (3): Litecoin. Most monthly loses (4): NEM. Special mention goes to Bitcoin Cash which finally logged its first win this month.

    Overall update – Back and forth between Bitcoin and Stellar continues. NEM and IOTA at the bottom.

    Stellar's tough month dropped it from overall experiment champion to third best performing crypto over the life of the experiment. Bitcoinregained the lead, now 'only' down -60% from January 2018 and now Litecoin has passed Stellar as well.

    Bitcoin Cash's phenomenal April allowed it to barely crawl out of the cellar, but is still down -90% since the beginning of the experiment. NEMis the worst overall performer (down -94%) followed by IOTA which is down -91%. My initial $100 investment in NEM is worth just $5.91 and IOTA is worth $8.21.

    Total Market Cap for the entire cryptocurrency sector:

    The total crypto market cap increased over $25B in April, up +18% from last month's report. It is down -70% since the beginning of the experiment, January 1st, 2018. At $171B, the market is at its highest point since November 2018.

    Bitcoin dominance:

    Bitcoin dominance jumped quite a bit in April, now standing at nearly 55%. This is the highest point Bitcoin dominance has reached so far in the experiment.

    Overall return on investment from January 1st, 2018:

    My Top Ten of 2018 portfolio increased nearly $15 in total value this month. Another tiny gain, but noteworthy, as ending three months in a row in positive territory is a first so far in the experiment.

    If I cashed out today, my $1000 initial investment would return about $181, down -82%.

    Another rare event: I have almost always ended months setting a record low in terms of value over the life of the experiment. April marks the third month in a row where this has not the case.

    Implications/Observations:

    Recording three solid months in a row is new territory for this experiment. While it feels like the bottom could drop out again any day, the string of positive months keeps increasing.

    Of note this month is the record high Bitcoin dominance, the highest since the experiment started in January 2018. This, coupled with the rise in the crypto market cap, shows that while enthusiasm for crypto is growing, it is focused on the most well know options - people are cautious at the moment about investing in altcoins, but seem to be more willing to invest in Bitcoin.

    On a related note, Bitcoin reclaimed the overall lead this month in a convincing manner - it is 7% ahead of second place Litecoin.

    The experiment's focus of solely holding the Top Ten continues to be a losing proposition. While the overall market is down -70% from January 2018, the cryptos that began 2018 in the Top Ten are down -82% over the same period of time. At no point in the experiment has this investment strategy worked: the initial 2018 Top Ten continue to under-perform compared to the market overall.

    The 12% difference is up significantly from last month's 8% difference. It is the widest gap so far and was also seen at one point last year (September 2018).

    I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. After a pretty significant December dip, the stock market continues to rebound. It's up over +10% since the beginning of 2018, so that $1k investment I threw into crypto would have yielded +$100.

    Conclusion:

    February, March, and now April have been quietly solid months for crypto. I personally would be quite satisfied to have these slow, steady $15B-$25B monthly gains for a while instead of the volatile periods, but it does feel a bit like the calm before the storm.

    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.

    submitted by /u/Joe-M-4
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    Bitcoin for IoT - Japanese startup launching Thunderbird, a Lightning implementation for M2M micropayments

    Posted: 01 May 2019 02:46 PM PDT

    Crypto Crime May Have Cost Sector $1.2 Billion in Q1, Says Report

    Posted: 01 May 2019 10:45 AM PDT

    9Lives Arena Uncut Gameplay During Internal Pre Alpha - Enjin Multiverse game

    Posted: 01 May 2019 02:13 PM PDT

    Here's a pretty cool video of some testing of 9 Lives Arena

    Upcoming blockchain-based game 9Lives Arena will let players design 'blueprints' for their characters which they will also be able to sell on the blockchain.

    9Lives Arena is a fantasy role-playing game (RPG) based around skillful one-on-one (1V1) duels. As the name aptly implies, players will have a grand total of nine lives before having to create a new character.

    The game will feature a sparring mode where players can freely test their skills against other players in matches where deaths will not count.

    Upon losing nine lives, players' characters will turn into a statue in the arena and cannot be used again.

    The game is advertised as cross-platform – meaning players on PC, Xbox, and PlayStation should be able to play with one another.

    (source)

    submitted by /u/pale_blue_dots
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    Margin trading flag enabled for 9 trading pairs in the Binance API

    Posted: 01 May 2019 01:09 PM PDT

    Remember this post over a month ago? Research: Margin trading features found on Binance API

    I took another look today and found that the isMarginTradingAllowed flag is now enabled for the following 9 pairs:

    • BTC-USDT
    • BNB-BTC
    • BNB-USDT
    • ETH-BTC
    • ETH-USDT
    • TRX-BTC
    • TRX-USDT
    • XRP-BTC
    • XRP-USDT

    Perhaps, a sign that the margin trading is coming soon to Binance.

    submitted by /u/lifofifo
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    DEATH OF AN ANDROID, short dark comedy directed by Always Sunny in Philadelphia director released. Sequel to award winning Crypto comedy BUY THE DIP. 'After a man loses all his money to cryptocurrency, his suicide attempt is cut short when a passerby offers him the most ridiculous reason to live'

    Posted: 01 May 2019 02:56 PM PDT

    Hey everyone,

    ​

    Delighted to be able to finally share this with you. Thanks for everyone who has messaged, and all the interest I've received since posting the trailer last month.

    It's a dark satire based around the endless iPhone vs iPhone debate, and a loosely connected sequel to my previous Cryptocurrency comedy BUY THE DIP. It's short, so I won't give too much away. Check it out at https://youtu.be/6wartpoxzcQ

    ​

    The film was written and produced by me, directed by Always Sunny in Philadelphia, Black Jesus, & You're The Worst director Heath Cullens, and stars an awesome cast, including Greg Romero Wilson, soon to be seen in the Amazon Studios series UPLOAD from The Office and Parks & Rec creator Greg Daniels.

    ​

    If you haven't seen it already, you can find a link to the previous film BUY THE DIP in the video description.

    submitted by /u/samxls
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    Lots of weird corruption in cryptos and blockchain

    Posted: 02 May 2019 03:50 AM PDT

    Lots of weird corruption in cryptos and blockchain

    source article

    ​

    Korean blockchain project BOScoin and its affiliated communities and entities have been engaged in a heated dispute for nearly a year over alleged misconduct on behalf of the director of BPF Korea. This is one of the bigger companies to come out of the ICO craze in Korea.

    tl;dr - The director probably opened a bunch of companies (in family members' names) to funnel the Foundation's money into, then pocket for himself. He denies it but has no explanation for the huge amount of evidence mounting against him.

    ​

    https://i.redd.it/uqvrjy103sv21.png

    submitted by /u/CoKBrian
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    Way to make money with bitcoin exchange price discrepancies

    Posted: 02 May 2019 02:31 AM PDT

    As everyone knows there are three BTC prices: BTC/USD, BTC/USDT, and BTC bitfinex

    ​

    There's a 1.5% gap between BTC/USD and BTC/USDT and a 5% gap between BTC/USD and BTC bitfinex, but many services when quoting the "official" BTC price use all the prices to make an average.

    ​

    So in theory , someone could sell BTC at this inflated average such as in-person or on a peer site or use this inflated average when buying goods with BTC but buy BTC cheap on coinbase .

    submitted by /u/ApplesDapp
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    Radix DLT - updates, new dev cards

    Posted: 02 May 2019 02:15 AM PDT

    Hey guys, just wanted to share our most recent updates on Radix DLT! Just so you know - I work for Radix as a social media coordinator, and if you feel this post breaks any rules - just delete it and let me know, so I won't bother you in the future :)

    So, as far as development goes we are getting closer to our technical go-live (scheduled for Q4 2019) goals - the Node Runner software is nearly done at 95%, the Asset-Backed Tokens API is at 90%, with the Utility Token Toolkit dragging behind a bit, with 70% completion (https://www.radixdlt.com/roadmap).

    For defining our development productivity, we're using the Scrum/Agile methodology here at Radix. We define what needs to be delivered using User Stories and measure our productivity by our sprint velocity, which are the number of Story Points completed in an average two-week sprint. From now on, we've decided to share with everyone what which Sprint consists of in our knowledge base - https://docs.radixdlt.com/alpha/develop/sprint-reviews

    We've also released two interesting use cases - a POS card system (https://docs.radixdlt.com/alpha/learn/use-cases/card-payment-system), which can not only be used for simple transactions - it's a slightly more complex solution, which gives insight to spending habits and can also store loyalty points.

    We've also prepared Radix branded developer cards - if you are thinking of using those for building an app, please let me know, or contact Radix at any social media account.

    Check those cards out here - https://twitter.com/radixdlt/status/1123512208154136576

    The second use case is an IOT (https://docs.radixdlt.com/alpha/learn/use-cases/internet-of-things) solution focused on exploring the possibility of a temperature controlled logistic system on the ledger.

    Our community has grown a lot thanks to https://twitter.com/Takeshi_TGAL, who has created both a Medium channel with Japanese translations of our articles (https://medium.com/radix-japan-unofficial) and a Japanese twitter handle to distribute those articles - https://twitter.com/RadixJapan. Thanks a ton, Takeshi!

    submitted by /u/Witos89
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    Are NFTs (currently) only built on Ethereum?

    Posted: 01 May 2019 01:31 PM PDT

    Hey guys,

    I'm learning about NFTs atm - kind of a gap in my knowledge - and have been reading about the ERC-721 standard. It seems everywhere I go, I hear all about the Ethereum-based standard but nothing else. Are people developing NFTs elsewhere (e.g. other blockchains, enterprise/private blockchains even)?

    Thx

    submitted by /u/-goldmund-
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