Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. koss

    koss Member

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    This bloke has a pretty good market update:


    The bit that got me was the letter from the Fed that says the futures market trading was the cause of the fall in BTC price.
     
  2. shredder

    shredder Member

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    I don't doubt it. But I'm very curious about - what was the actual mechanism?

    People have stated in the past that the volumes in the actual Bitcoin Futures markets were only a tiny fraction of the value traded in the real Bitcoin market itself.

    So the question then is - what money flowed where, and how, in order to take advantage of the whole Futures thing?

    How do "they" manipulate things so that the tiny (volume-wise) Bitcoin Futures market can crash the comparatively massive Bitcoin market?

    It's very interesting.
     
    Last edited: May 9, 2018
  3. whatdoesthisdo

    whatdoesthisdo Member

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    I doubt it. I don't think that it was one single event eg futures that caused it. I think it was a multitude of things... Futures, US tax time, Mt Gox, etc etc
     
  4. douver

    douver Member

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    I think the reality is everyone was pre-buying BTC expecting the futures market to be good for the price, when this didn't happen there was capitulation (very similar to most altcoin tops by the way). Wall St can't sell coins they don't have. Everyone was Euphoric as anything in December - imho if you want to sell tops, remember the feeling you had at the BTC top (I reckon you need to have experienced it to know it) and sell next time you feel it (this goes for any market not just BTC).
     
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  5. koss

    koss Member

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    I don't know, the futures market doesn't trade actual BTC, so logically I would think to sway the BTC price you would have to get onto an exchange that trades BTC. It's all quite a mystery.
     
  6. douver

    douver Member

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    Wall St need to have BTC to dump, but a big price difference can make people arbitrage futures/spot (ie buy 1btc futures/sell 1btc spot if futures is 2% lower). Needs massive volume/open interest though.

    Had another look still can't see Wall St Futures making an impact. Bitmex/Okex still look massive comparatively (both of which have existed since like 2014).

    Open Interest Currently:
    Couldn't find CBOE data
    CME - 12.5k BTC
    Bitmex - 85k BTC
    Okex - 80k BTC

    So any impact from Wall St futures is almost entirely symbolic rather than actual selling.
     
  7. koss

    koss Member

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    One of my friends proposed the theory that it's not the trades on the futures market that are influencing the BTC price, it's that the futures traders are getting onto the BTC exchanges and shorting or pumping the BTC price so they can have a win on their futures position. ie. if it costs them a million bucks on a crypto exchange to manipulate the BTC price, and they make two million on their futures trade from it, then it's worth doing.
     
  8. Ronald Reagan

    Ronald Reagan Member

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    Probably a bit late, but anyone at Consensus 2018 right now and want to say hi?
     
  9. koss

    koss Member

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    So what's with the Bitcoin Cash price crash this week? Was that just the hard fork or something else?

    Some punters are saying there is a general bear market because the "bond yield curve is flattening" meaning short term bonds are looking attractive more so than stocks or crypto.
     
    Last edited: May 19, 2018
  10. dirkmirk

    dirkmirk Member

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    Some nice big falls, are we on the way below 5 grand?

    The chatter in crypto threads has dropped severely and not being spammed with youtube videos as much , it feels reminiscent of 2014 and if all goes to plan we will repeat the 2017 boom somewhere between 2019-2021.
     
  11. koss

    koss Member

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    Dunno, one of my mates cashed out BTC at $9k and said he was going to buy back in at $7,800, I just emailed him to say it was around $7,500. The market has been pretty bear for the past couple of weeks.
     
  12. aussie-revhead

    aussie-revhead Member

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    What has caused the falls in crypto prices over the last week or two? It's affected nearly every currency (afaik).

    Is it just part of the crypto cycle or has a political or financial event triggered the slide?

    Edit: just saw koss' post about bond yeild curve, is that global?

    I'm not into finance but why did My Gox have to declare bankruptcy if they still had a billion+ in BTC? Could they not have financed a Nicehash style payback themselves? Anti crypto conspiracy anyone?

    :)
     
    Last edited: May 25, 2018 at 8:14 AM
  13. Gunna

    Gunna Member

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    i've given up checking daily now until I have some disposable cash to play with. I've put all my ERC20 tokens on a Trezor and leaving it alone for 4 - 5 years. I expect a rise in one when the beta of the platform releases soon so it that rises to where I think it will($15+) i might cash out half.
     
  14. shredder

    shredder Member

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    Why not just say "Golem".
     
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  15. Gunna

    Gunna Member

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    Not Golem, Powr and Elix

    Elix going to beta, ATH for Elix is $2.40 I think. Once the product has launched and users are both lending and using the crowdfunding portion I think it could easy match where SALT got to of between $13 and $17
     
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  16. shredder

    shredder Member

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    Fair enough. There are indeed quite a few heavyweight ERC20's around these days - 0x is another. It seems to be the new "coming soon to Coinbase!" rumour.
     

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