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    [Daily Discussion] Tuesday, April 21, 2020 Bitcoin Markets

    April 21, 2020

    [Daily Discussion] Tuesday, April 21, 2020 Bitcoin Markets

    [Daily Discussion] Tuesday, April 21, 2020

    Posted: 20 Apr 2020 09:04 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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    [Altcoin Discussion] Tuesday, April 21, 2020

    Posted: 20 Apr 2020 09:05 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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    How oil price fall affected Bitcoin miners

    Posted: 21 Apr 2020 08:09 AM PDT

    Not that long ago it was suggested that in some time oil companies will dominate Bitcoin mining since they have resources to power the rigs. Some of the companies seized this opportunity. It turned out that instead of looking for a way to make flare gas environmentally harmless, it can be used for the profit of Bitcoin miners.

    Yesterday made this future look a little different. Because of the oil price fall, Bitcoin miners lost access to the source of power.

    Marty Bent, the Great America Mining co-founder, started to use byproduct gas in 2019. He believes in the idea of turning byproduct gas into Bitcoins and thinks that oil and gas companies standstill will influence this win-win cooperation very much. However, in the current situation, these plans and ideas are quite questionable.

    submitted by /u/SimpleSwapExchange
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    Does the Bitcoin derivatives market (futures) affect price discovery on the Bitcoin spot market?

    Posted: 21 Apr 2020 10:54 AM PDT

    What are people's thoughts here?

    In theory, we all know that the derivative price is derived from the price of an underlying. But in practice, with the highly speculative nature of a market (without sufficient spot market liquidity) - it almost seems like the derivative markets can affect the price in the spot markets. Thoughts?

    submitted by /u/oxy_storifier
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    Gekko Forks

    Posted: 21 Apr 2020 08:02 AM PDT

    Hey All

    So I'm dipping my toes in crypto trading bots. So far I've tested Zenbot and Gekko.

    While the UI of both could be optimized, I never managed to get Zenbot stable for more than a couple of days. Gekko on the other hand has been running fine for almost a week now.

    But here's the thing, the Gekko repository is no longer maintained. Somewhere in the repo, Mike states to use one of the many forks. But I struggle to find one that actually seems like the "Gekko-NG" I'm looking for. I've looked at all the forks on github that where updated within the last 12 months, nothing stood out.

    Any of you use Gekko or a fork? Any pointers to which fork looks promissing?

    submitted by /u/woutervddn
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    Whalepool - Bitcoin Volume Validator

    Posted: 21 Apr 2020 01:06 AM PDT

    Whalepool has created and released an open-source tool for analysing volume on exchanges and to sniff out fake volume. See:

    From the GitHub repository:

    Theory

    Every trade execution by law of Central Limit Order Book logic has both a "maker" and a "taker" side from orders created.

    Every "maker" order has an event pushed to the "OrderBook" websocket stream.

    The API documentation in all cases of exchanges used indicates real-time pushing of updated data (we did not use streams where there was indication of 1000ms or so delays).

    So the methodology used throughout is to programmatically watch:
    - The order book best bid/offer
    - The raw trade feed

    Then look for trades which occur inbetween the bid/ask.

    This would indicate a trade took place which no one else was able to execute because the trade never appeared on the order book for anyone to be able to see, to then take.

    It is known that some exchanges are just not good at reporting the orderbook data and trade data in synch, or they do not provide detailed enough information of event timestamp/id to be able to resolve suspicious data.

    The scripts here compute both Fake Trades Count vs Legit Trades Count, as well as Fake Volume vs. Legit Volume.

    Feel free to request an exchange you use to be analysed using our methodology and we'll be happy to post it along with results.

    Some results (also from the GitHub repository):

    Exchange Volume executed between the spread (_o_) ? Notes
    Binance 30% Approx 30% of volume executes between the spread
    Coinbase 2-3% Approx 2-3% of volume executes between the spread
    Bitstamp <1% Tested over a 12h period
    FTX <1% within margin of error for latency issues
    Kraken 0% PERFECT - Tested and no fake volume identified
    Bitfinex - Exchange has hidden orders so test is non applicable
    "Bilaxy" YES Totally fake. See video
    submitted by /u/dnivi3
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