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    Cryptocurrency Daily Discussion - September 5, 2019 (GMT+0)

    September 05, 2019

    Cryptocurrency Daily Discussion - September 5, 2019 (GMT+0)

    Daily Discussion - September 5, 2019 (GMT+0)

    Posted: 04 Sep 2019 05:12 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 The prior exemption for karma and age requirements is no longer in effect.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.

    To see the latest or prior Skeptics Discussions, click here.

    To see the latest or prior Support Discussions, click here.

    submitted by /u/AutoModerator
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    Freaking finally

    Posted: 04 Sep 2019 09:32 AM PDT

    Brave discovered secret Google tracking

    Posted: 04 Sep 2019 09:13 PM PDT

    For the first time, users can easily create a stable version of any token. For instance, someone can create a stable version of BAT pegged to the US dollar, allowing users to borrow against the value of BAT. Giving networks the ability to segment between speculators and real users

    Posted: 04 Sep 2019 11:46 PM PDT

    NYC Sept 25 - Energy Efficient Blockchains and Hybrid Solutions - Free NYC Climate Event

    Posted: 05 Sep 2019 03:27 AM PDT

    Don't worry, the SEC is here to protect us!

    Posted: 04 Sep 2019 04:50 PM PDT

    Samsung is launching a blockchain friendly phone . series of blockchain applications will be pre-installed.

    Posted: 05 Sep 2019 01:27 AM PDT

    Samsung to Release Crypto-Friendly Edition of Galaxy Note 10 Smartphon

    Posted: 05 Sep 2019 01:01 AM PDT

    I bought $1000 worth of the Top Ten Cryptos on January 1st, 2018 (Aug. 2019 Update)

    Posted: 04 Sep 2019 08:40 AM PDT

    I bought $1000 worth of the Top Ten Cryptos on January 1st, 2018 (Aug. 2019 Update)

    ​

    EXPERIMENT - Tracking Top 10 Cryptocurrencies for Two Years (2018 & 2019) - Month Twenty - Down 80%

    Full blog post

    tl;dr - August marked the second down month in a row and Bitcoin snapped its streak of six straight months of growth. Bitcoin dominance sets yet another all time Experiment high and is 50 percentage points ahead of second place Litecoin.

    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. Spoiler alert: the 2019 Experiment makes for happier reading.

    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 Twenty - Down 80%

    https://i.redd.it/fx3itih2klk31.png

    August ended completely in the red with all of the 2018 Top Ten losing ground. BTC performed the "best", down -10%. While February through June saw five straight months of upward trajectory, July and August have ushered in two-month downward streak.

    Ranking

    https://i.redd.it/o3klsxc5klk31.png

    Despite being down for the month Cardano and IOTA both gained a place in the rankings against their peers. NEM continued its slow and steady fall, now at #24. Stellar keeps yo-yoing in and out of the Top Ten, this month dropping to #11. Dash had a tough August, dropping two places to #17.

    NEM, Dash, IOTA, Stellar, and Cardano are the 2018 Top Ten dropouts - they have been replaced by EOS, Binance Coin, Tether, Monero and BTCSV.

    August Winners - Although down -10%, this was enough for Bitcoin to outperform the field.

    August Losers - All coins finished in the red, but Litecoin had roughest month, down -29% followed by NEM, down -26%. Stellar dropped back out of the Top Ten as well.

    For those keeping score, here is tally of which coins have the most monthly wins and loses during the first 20 months of this experiment. Most monthly wins (5): Bitcoin. Most monthly loses (5): Stellar. All cryptos have at least one monthly win. The only two coins never to lose a month? Bitcoin and Dash.

    https://i.redd.it/mjgzmk97klk31.png

    Overall update – Bitcoin opens widest lead of the experiment. NEM, Cardano, and IOTA worst performers.

    Although down -10% on the month, Bitcoin is crushing the other Top Ten experiment coins. BTC is down -20% since January 1st 2018 but now holds a +50 percentage point lead over second place Litecoin which is down nearly -70% over the same period. This is by far the widest lead Bitcoin (or any coin for that matter) has held since I started the experiment nearly two years ago.

    NEM is still the worst overall performer (down -95%) followed by IOTA and ADA both down -93%. My initial $100 investment in NEM is worth just $5.20.

    Total Market Cap for the entire cryptocurrency sector:

    https://i.redd.it/fhpgaoj9klk31.png

    For the second straight month, the total crypto market cap decreased, shedding about $40B in August. The overall market cap dipped below the $300B mark and is back to a level we saw around early June 2019.

    Bitcoin dominance:

    https://i.redd.it/dcmlbhebklk31.png

    Bitcoin dominance continues to increase, now at 70%. This is easily the highest point so far since the experiment began in January 2018. For context, Bitcoin dominance was at 33% in early February 2018.

    Overall return on investment from January 1st, 2018:

    https://i.redd.it/gsweszecklk31.png

    My Top Ten 2018 portfolio lost about $45 in total value this month. The August decrease confirms a two month losing streak after an impressive five month straight run of gains (February to June).

    If I cashed out today, my $1000 initial investment would return about $203, down nearly -80%.

    Implications/Observations:

    Although still down overall since January 2018, Bitcoin is dominating the space and showing no mercy towards other cryptocurrencies. August did snap BTC's streak of six straight months of growth but this month also saw it shatter the 70% dominance figure for the first time since the experiment began.

    Bitcoin continues to increase its overall lead. After twenty months, it is now about 50 percentage points ahead of distant second place Litecoin in terms of return on initial investment.

    As always, the experiment's focus of solely holding the Top Ten Cryptos continues to be a losing approach. While the overall market is down -%53 from January 2018, the cryptos that began 2018 in the Top Ten are down -80% over the same period. That's close to a 30% difference, the widest gap of the experiment so far.

    At no point has this investment strategy worked: the initial 2018 Top Ten have under-performed each of the twenty months compared to the market overall.

    I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. The S&P 500 is now up +8.7% since the beginning of 2018. My initial $1k investment into crypto would have yielded about +$87 had it been redirected to the S&P. (By the way, I'm not counting reinvested dividends, just as I'm not tracking potential staking rewards in cypto. Reason? Laziness).

    https://i.redd.it/t6e04amfklk31.png

    Conclusion:

    No doubt about it, August was a down month for crypto - the first all red month for the Top Ten 2018 Experiment cryptos since January 2019. Bitcoin, after getting tantalizingly close to the break even point in July (the price I paid on January 1st 2018) retreated a bit in August, but still continues to dominate. 70% dominance seems incredibly high - how much higher can it go? Will alts ever make a move?

    Thanks for reading and for supporting 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. Keep an eye out for my parallel project where I repeated the experiment, purchasing another $1000 ($100 each) of a new set of Top Ten cryptos as of January 1st 2019.

    submitted by /u/Joe-M-4
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    LukkiExchange.io is a SCAM!

    Posted: 04 Sep 2019 02:59 PM PDT

    Anyone else have their bittrex account seized by US gov?

    Posted: 05 Sep 2019 12:01 AM PDT

    I was trying to login to my bittrex account a few days ago and kept getting denied with wrong password, I tried the password reset email and that didn't work.

    I tried bittrex support email and they kept saying send us an email from the account holders account which was odd because I was sending it from the account holders account anyway I pressed them for a proper response and this is what i got:

    ""Hi xxxxxxxxxxx,

    As previously stated please take note of the following:

    Bittrex is a U.S based exchange and thus, it complies with applicable laws and regulations, including orders from law enforcement or other governmental authorities. The account for xxxxxxxxxx was seized pursuant to a warrant issued by the US District Court for the Western District of Pennsylvania.

    You should be contacted by the involved authorities through formal correspondence soon. We have no additional information to provide at this time.

    Best Regards,"

    Anyone else have this issue?

    Edit: The email was a reply from bittrex support who I've been emailing with trying to get my account unlocked.

    submitted by /u/Nimelo
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    North Korea slams accusations of crypto theft

    Posted: 05 Sep 2019 04:06 AM PDT

    A huge database of Facebook users’ phone numbers found online

    Posted: 05 Sep 2019 04:00 AM PDT

    Can edge-based caching and blockchain-nodes speed up data transmission?

    Posted: 05 Sep 2019 05:43 AM PDT

    Twitter CEO: Bitcoin's Longevity and Resilience Makes it Prime "Currency for the Internet" Candidate

    Posted: 05 Sep 2019 12:27 AM PDT

    Cryptos & Blockchain Steps in to Help Save the Burning Amazon

    Posted: 05 Sep 2019 05:00 AM PDT

    Serious thoughts on MAIDsafe

    Posted: 05 Sep 2019 04:20 AM PDT

    OK, ive been about this Reddit forum for a while now, have invested in numerous altcoins, lost with numerous altcoins too.

    One of those I have not yet sold is the MAIDsafe token, why? Because after years in development it still ain't finished!

    I'd like to know, what do you guys think of it? Do you know about it? There is a lot of FUD and bullshit on here relating to the next awesome or crap coin, to which all quite frankly are pump and dump shite, apart from bitcoin.

    Is anybody here sitting tight and waiting for these guys (MAIDsafe) to launch the safe network, to then unload there (converted) safecoins? What's your target sell point?

    Their forum is always quite busy but around here they seem pretty dead. Are they crap at marketing? Or is it soo old people can't be arsed with it?

    I'd be keen to know what others think of it.

    Thanks.

    submitted by /u/d4vegee
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    Bismuth CRYPTO Chess 960 tournament at Friday, 6th.

    Posted: 05 Sep 2019 04:08 AM PDT

    Register And Remain In Business, Central Bank Of Netherlands Tells Crypto Firms

    Posted: 05 Sep 2019 03:54 AM PDT

    Oracle Lets Blockchain Tech Firm Hydrogen Into Its Cloud Marketplace - CoinDesk

    Posted: 04 Sep 2019 11:28 AM PDT

    Cryptocurrency Elite Gathering at Crypto Fest 2019 in South Africa

    Posted: 05 Sep 2019 03:28 AM PDT

    East African Country Burundi Bans All Crypto Trading

    Posted: 04 Sep 2019 10:23 PM PDT

    Abu Dhabi Commercial Bank Integrates Trade Finance Blockchain

    Posted: 04 Sep 2019 11:34 PM PDT

    Google searches for bitcoin are going through the roof – could be manipulated

    Posted: 04 Sep 2019 11:06 AM PDT

    Jack Dorsey Advocates Bitcoin With No Chance Of A Twitter-Coin Anytime Soon

    Posted: 04 Sep 2019 12:54 PM PDT
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