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    Cryptocurrency Daily Discussion - May 3, 2019 (GMT+0)

    Cryptocurrency Daily Discussion - May 3, 2019 (GMT+0)


    Daily Discussion - May 3, 2019 (GMT+0)

    Posted: 02 May 2019 05:19 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 The prior exemption for karma and age requirements is no longer in effect.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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    Bitcoin at Almost 6,100$ on Bitfinex, 5750$ on Coinbase. Marking 2019 Highs.

    Posted: 03 May 2019 02:09 AM PDT

    Justin Sun deletes his "Comprehensive Developer's Guide" after people noticed it was nothing more than a collection of exchanges for buying TRON

    Posted: 02 May 2019 12:44 PM PDT

    US Justice Dept seizes part of missing money from Bitfinex Tether scandal. Arrests made.

    Posted: 02 May 2019 10:18 AM PDT

    US Justice Dept seizes part of missing money from Bitfinex Tether scandal. Arrests made.

    Article laying out the details and connection points

    https://modernconsensus.com/cryptocurrencies/tether/feds-justice-hsbc-account-bitfinex-seized/

    Indictment Info

    https://www.justice.gov/usao-sdny/pr/arizona-man-and-israeli-woman-charged-connection-providing-shadow-banking-services

    Official Indictment Document

    https://www.justice.gov/usao-sdny/press-release/file/1158991/download

    Reginald Fowler, former minority stakeholder in the Vikings, arrested.

    https://www.sportsbusinessdaily.com/Daily/Issues/2013/11/18/People-and-Pop-Culture/Reggie-Fowler.aspx

    Reggie arrest, article by Sports Illustrated

    https://www.si.com/nfl/2019/05/01/alliance-american-football-reggie-fowler-investor-arrested-bank-fraud

    Reggie Fowler has history of shady dealings

    http://www.espn.com/nfl/news/story?id=1995986

    Reginald (Reggie) Fowler

    https://i.redd.it/wnp9mkvn1uv21.jpg

    Ravid Yosef

    Assuming this is correct woman. Same name / sex / age as person indicted. Not much info on her. All her social media and biz websites haven't been updated in several years. She seems to have gone off the grid.

    https://i.redd.it/u86u36ny4uv21.jpg

    submitted by /u/CryptoKujira
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    It's Friday, I start posting memes

    Posted: 02 May 2019 10:49 PM PDT

    PSA: FacebookCoin and similar currencies are not "cryptocurrencies" and don't refer to them as such.

    Posted: 02 May 2019 07:01 PM PDT

    With mass adoption likely coming in the next few years, what we do and what we say will shape how newcomers see cryptocurrencies. Because of this, it is important that we distinguish between decentralised, permissionless blockchain currencies and controlled, censorable currencies. If we refer to the centralised currencies as digital currencies and decentralised currencies as cryptocurrencies and help the public to understand the difference between such currencies even if only at a basic level, then we might just see the masses adopt real cryptocurrencies over a controlled, centralised, dystopian currency like Facebook coin or government issued currencies will likely be.

    I realise that some currencies such as JPMCoin will likely operate on Ethereum or a private fork of Ethereum, but if the company has any more control over it as it has over Bitcoin or Ether then as far as I'm concerned it's centralised.

    Also, some of you will argue things like "Ripple or EOS are centralised". While sure, they may be more centralised than Bitcoin or Ethereum, I can almost guarantee that they will be more decentralised than any digital currency released by a company such as Facebook. For the sake of unity and simplicity, it's fair to assume that almost all projects currently in the crypto space in decentralised.

    TL:DR: We should refer to decentralised currencies as "cryptocurrencies" and centralised currencies as digital currencies, it will help the general public understand that bitcoin and other cryptos are different from currencies operated by companies and governments.

    submitted by /u/Tricky_Troll
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    Monero Transactions is at an all time high!

    Posted: 02 May 2019 11:18 PM PDT

    Short liquidations increasing at BitMEX

    Posted: 03 May 2019 12:13 AM PDT

    Everyone, “Please no dump”

    Posted: 03 May 2019 02:54 AM PDT

    Hashes of all education certificates will be published to Ethereum mainnet by all Singapore institutions

    Posted: 02 May 2019 10:14 PM PDT

    ICON just hit it's transactions ATH (over 20k)

    Posted: 03 May 2019 02:14 AM PDT

    In 2018, Copytrack raised $11 million in an ICO only to abandon their token holders

    Posted: 02 May 2019 05:59 PM PDT

    I've done a little research on this, and felt like sharing because a little more into embracing transparency and good practices is needed in crypto, isn't it?

    Anyway, in the middle of the crypto boom, a friend of mine insisted we invest in this ICO, Copytrack. The ERC-20 CPY tokens were valued at 1.2 USD, although I remember them having different bonus tiers and price brackets... I remember this opened trading at a huge loss, and I just took it. Mind you, it wasn't too much money but nobody likes losing it. Anyway, this token is trading a year later in one major exchange, HitBTC, for 0.02 USD (98% drop from ICO) and 2 USD of trading volume.

    Currently, the company who did the ICO shows no association with Blockchain whatsoever and mentions of the CPY tokens are nowhere to be found in their site. It looks like a regular startup https://www.copytrack.com

    Their Github is an absolute joke https://github.com/copytrackio

    You can see on their Twitter that apparently they are doing fine, even showing that they employ a fair amount of people https://twitter.com/COPYTRACK/status/1122781330654339072

    Researching a little bit, apparently they created a branch company named Concensum which is the one associated now with the CPY tokens... But they haven't done any decent progress as you can see on their outdated roadmap https://concensum.org/en/about and also their Coinmarketcap and Etherscan pages shows the old data https://coinmarketcap.com/currencies/copytrack/ & https://etherscan.io/token/0xf44745fbd41f6a1ba151df190db0564c5fcc4410

    The original team members of Copytrack are still there https://www.copytrack.com/about-us/ and they were the same people raising funds in the ICO https://icodrops.com/copytrack/

    Anyway, just your regular ICO grab that without the wild wild west of the crypto world wouldn't have achieved any funding. Let's say they did a soft scam.

    submitted by /u/exegg
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    Fidelity Survey Finds Institutional Investors Are Eyeing Crypto

    Posted: 02 May 2019 12:43 PM PDT

    Just Counter Trade Him.

    Posted: 03 May 2019 02:04 AM PDT

    Top 30 Coins by Wash Trading Volume

    Posted: 03 May 2019 02:10 AM PDT

    Interesting to note that more than half the volume for all top 10 coins (except BMB) is fake. Only four coins in the top 30 have less than 25% fake volume.

    Ethereum Classic (CMC rank 18) = 85% wash trading

    Tron (CMC rank 11) = 85% wash trading

    Litecoin (CMC rank 5) = 77% wash trading

    ZCash (CMC rank 25) = 76% wash trading

    EOS (CMC rank 6) = 75% wash trading

    Ethereum (CMC rank 2) = 73% wash trading

    DASH (CMC rank 13) = 69% wash trading

    Ontology (CMC rank 21) = 68% wash trading

    Tether (CMC rank 8) = 68% wash trading

    Monero (CMC rank 12) = 67% wash trading

    Bitcoin (CMC rank 1) = 65% wash trading

    Stellar (CMC rank 9) = 65% wash trading

    Iota (CMC rank 17) = 64% wash trading

    NEO (CMC rank 19) = 64% wash trading

    Cardano (CMC rank 10) = 63% wash trading

    Bitcoin SV (CMC rank 15) = 58% wash trading

    Bitcoin Cash (CMC rank 4) = 57% wash trading

    XRP (CMC rank 3) = 57% wash trading

    Crypto.com Coin (CMC rank 24) = 54% wash trading

    NEM (CMC rank 23) = 45% wash trading

    Tezos (CMC rank 16) = 44% wash trading

    Bitcoin Gold (CMC rank 29) = 40% wash trading

    Binance Coin (CMC rank 7) = 39% wash trading

    Doge (CMC rank 27) = 30% wash trading

    Maker (CMC rank 20) = 26% wash trading

    BAT (CMC rank 23) = 23% wash trading

    VeChain (CMC rank 26) = 21% wash trading

    Decred (CMC rank 30) = 17% wash trading

    USD Coin (CMC rank 28) = 12% wash trading

    *No data available for Cosmos (CMC rank 14)

    Data taken from here https://www.bti.live/top-wash-traded-coins/ and CMC

    submitted by /u/thebloodyobvious
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    The front page is finally filled with discussions instead of clickbait articles. What feedback do you have for the mods during this whitelist trial?

    Posted: 02 May 2019 03:19 PM PDT

    3 arrests in Darknet 'Wall Street Market' probe

    Posted: 03 May 2019 12:14 AM PDT

    Why do these online sites need my passport number social security number picture of me holding my passport for my $50 of btc??

    Posted: 02 May 2019 09:04 PM PDT

    I have been out of the game a while and wanted to gather up all my crypto and consolidate. Now everything has a KYC thing and idk if it is worth the time and struggle to pull out $50 worth of crypto from 4 or 5 places. What happened and where can I go to not feel like I am getting scammed?

    submitted by /u/Skoden
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    New BTI report indicates that 25-75% of the total volume of 30 pairs on Binance are being wash traded.

    Posted: 02 May 2019 02:53 PM PDT

    Can someone explain this 'action' to me?

    Posted: 02 May 2019 06:11 PM PDT

    So I'm currently watching the BTC/USDT being traded on Binance.

    The price has broken out a few times, testing $5500, $5510 and the increments up to where it is currently ($5530~)

    At each level when the price was moving upwards quickly, I keep seeing (what I assume is one seller) is that a wall of 902, to 678 BTC keeps popping up and being removed every 5 or so seconds, at various price points, typically pushing down the upwards momentum.

    It also looks like whenever this wall goes up, none of it is really eaten in to and the price is held (or lowered) successfully at this price.

    I'm assuming this massive 'spike' /giant wall appearing all of a sudden, is messing with algorithmic trading (bots), but I am assuming it is a real person 'flashing' on and off with these massive sell walls. Anyone know this sort of strategy? Simple price manipulation to suppress it going too high by virtue of owning massive amounts of BTC?

    submitted by /u/escherAU
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    Pro-cryptocurrency Bills introduced to U.S. Congress

    Posted: 02 May 2019 09:53 AM PDT

    U.S. Congressional lawmakers are set to review and decide on two pro-cryptocurrency Bills aimed at helping regulate and better define the legal status of digital currency. AXEL General Counsel David Kaplan weighs in on the bills

    submitted by /u/Monster_Chief17
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    Running away from a fraudulent stable coin to another one will just postpone the meltdown, centralized coins are the antithesis of cryptos

    Posted: 03 May 2019 02:47 AM PDT

    Cryptos were built to escape from centralized money creation.

    Stable coins are exactly the opposite of cryptos : allowing a few shady hands to create/print extremely valuable tokens.

    What could go wrong? Everything!

    A lot of posters here try to guess whether it is a scam or not, whether stable coins are backed or not, whether they are printed out of thin air or not. Look no further, here is the answer :

    When a small group of unknown people manages a huge amount of money (billions of USD) without any code rules nor legal constraints it NEVER ends well. Never.

    That's why a truly decentralized blockchain is mandatory in the crypto market. Everything else has no value. Call it a startup, or offshore company, or ponzi scheme or whatever you want, but don't make the mistake to treat it as a cryptocurrency.

    submitted by /u/Organic_Pineapple
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    Reports suggest that hackers were able to breach Microsoft Outlook, allowing them to utilize the email service in stealing funds from crypto users

    Posted: 02 May 2019 04:24 AM PDT

    Reports suggest that hackers were able to breach Microsoft Outlook, allowing them to utilize the email service in stealing funds from crypto users. The exploiters were reportedly successful in gaining entry to the accounts of customer support employees from Microsoft. From there, they managed to obtain access to non-corporate email accounts, including the likes of MSN and Hotmail.

    Microsoft Outlook Hackers Reportedly Stole Cryptos - ChainBits

    Microsoft: Hackers compromised support agent's credentials to access customer email accounts - TechCrunch

    tl;dr

    Microsoft has confirmed to TechCrunch that a certain "limited" number of people who use web email services managed by Microsoft — which cover services like @msn.com and @hotmail.com — had their accounts compromised.

    "We addressed this scheme, which affected a limited subset of consumer accounts, by disabling the compromised credentials and blocking the perpetrators' access," said a Microsoft spokesperson in an email.

    According to an email Microsoft has sent out to affected users (the reader who tipped us off got his late Friday evening), malicious hackers were potentially able to access an affected user's e-mail address, folder names, the subject lines of e-mails, and the names of other e-mail addresses the user communicates with — "but not the content of any e-mails or attachments," nor — it seems — login credentials like passwords.

    Microsoft is still recommending that affected users change their passwords regardless.

    The breach occurred between January 1 and March 28, Microsoft's letter to users said.

    submitted by /u/sdblro
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    Bitcoin has just completed the Golden Cross, an extremely bullish signal, where the 50 day moving average rises above the 200 day MA.

    Posted: 02 May 2019 06:45 AM PDT

    Facebook building cryptocurrency-based payments system (WSJ)

    Posted: 02 May 2019 04:05 PM PDT

    CNBC: London Stock Exchange hints it could find use in blockchain technology integration.

    Posted: 02 May 2019 09:17 AM PDT

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