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Bitcoin blow as fund drops U.S. exchange application

reuters.com

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Re: Bitcoin blow as fund drops U.S. exchange application

#61

Post by josh2600 »

LrnByTeach wrote: post #52
jameskegel wrote: post #43

Earlier quoted context omitted.

Reading what you describe, I think Coinigy does this currently. I have a premium account and use it as an 'exchange aggregator' for my trade portfolio, to trade on and trade between many different exchanges with many trade pairs, and I believe it offers an API so that I could essentially abstract their frontend from the process. I pay about 20 dollars a month.

Yes, Good source for BTC historical data https://www.coinigy.com/bitcoin-data/

BTC is easy. There are a million sources for it. The altcoins are the hard ones.

Re: Bitcoin blow as fund drops U.S. exchange application

#62

Post by josh2600 »

scottlocklin wrote: post #58
josh2600 wrote: post #37

Earlier quoted context omitted.

As a fund manager, I wish there was a data warehousing service I could pay for with a queryable by the minute (or better granularity) API that captured multiple exchanges across multiple countries for the top 50 coins. I would pay a lot monthly for that product. Such a pro-level service doesn't exist at all yet. Also there aren't any derivatives or futures to speak of yet (don't point out the existing futures markets…

There's at least two of these: https://www.coinapi.io/ https://cpxtrading.net/news/

CPX doesn't have the breadth of exchanges I'm looking for. CoinAPI is interesting. I'll play with it and give you an opinion.

Re: Bitcoin blow as fund drops U.S. exchange application

#63

Post by 1001101 »

h2so4 wrote: post #50
1001101 wrote: post #46

Earlier quoted context omitted.

> no single government can stop the blockchain network completely Would you like to place a wager on that?

They cannot. Once the transaction becomes part of the blockchain, its replicated to each and every node in the world (we are talking about thousands) that span the length and breadth of the planet. Thus, its practically impossible.

Quick thought experiment: I just did a quick back of the envelope calculation on the brute force approach. 50% of the current hash rate would be 548 million retail - (current rate 8M TH/s, 1850$ retail Antminer S9 rated 13.5 TH/s). That's a quick thought on naive approach - not sure I have that right, so please check my work. I have a few other ideas as well. edit: of course, the existing hash rate would still be there, so you'd have to double it, not buy half. I still think the retail estimate is on the high side (markup, not leveraging economies of scale). My guess is that an organization like DARPA could buy Bitcoin for <250M$.

Re: Bitcoin blow as fund drops U.S. exchange application

#64

Post by scottlocklin »

josh2600 wrote: post #62
scottlocklin wrote: post #58

Earlier quoted context omitted.

There's at least two of these: https://www.coinapi.io/ https://cpxtrading.net/news/

CPX doesn't have the breadth of exchanges I'm looking for. CoinAPI is interesting. I'll play with it and give you an opinion.

I know the guy who did it a little; it's new, but if you have requirements, ping him and he'll probably fix it for you.

Re: Bitcoin blow as fund drops U.S. exchange application

#65

Post by sukulent »

I dont get bitcoin. Whats the value? I dont really see where I need it.

Used to mine back in the days right after I heard about and had great hopes and fun. It was worth nothing back then, but since just had too many letdowns because of the community around this so called currency. You could literally replace "Bitcoin" with "Jesus" in any conversation online in the big bitcoin communities and it would seem just like a religious cult, which I am not too much into. Actually that would be a fun idea for a browser plugin now that I think about it :D

I transfer money regularly to asia, but Transferwise is a much better option for this. Takes 20 minutes to have the real usable money in the account.

I lost 3000 euro recently on an exchange that went bust and I almost lost 60 bitcoins on MtGox, where I was one of their 50 first users. Only saved it because I went crazy on their IRC, so I guess MagicalTux just wanted to get rid of me.

Those 3000 euros were for playing around with ETH by the way - no big deal - but I decided that was the last straw. Just had enough, I guess and I kind of hope that this will turn into the shitshow, I think it is going to turn into because these days there is really nothing I could think of doing with a bitcoin if I had one.

Seriously. If I had a bitcoin, what could I do with it except selling it??

And the blockchain? What is it good for except for bitcoin? It has been around now for 10 years and everybody has been praising it to the skies, but have we really seen any breakthrough tech come out of this? Its not super complicated tech - just an interesting solution to a computer science problem. If it was so valuable, I am sure everybody who wants to earn money would be all over it. Thats what we like, right? Earn money.

A certain story by HC Andersen comes to mind.

Re: Bitcoin blow as fund drops U.S. exchange application

#66

Post by zodiac »

h2so4 wrote: post #50
1001101 wrote: post #46

Earlier quoted context omitted.

> no single government can stop the blockchain network completely Would you like to place a wager on that?

They cannot. Once the transaction becomes part of the blockchain, its replicated to each and every node in the world (we are talking about thousands) that span the length and breadth of the planet. Thus, its practically impossible.

I think large states definitely have the resources to launch 51% attacks

Re: Bitcoin blow as fund drops U.S. exchange application

#67

Post by readhn »

clarkmoody wrote: post #38
readhn wrote: post #15

Earlier quoted context omitted.

There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.

The first time I saw someone refer to Bitcoin as tulips was in 2011 when I started in the space. I'm sure others labeled it as such as soon as it started trading in 2010 at $0.06.

a few people have been called crazy for pointing out bubbles... prematurely. it does not change the fact that its still a bubble. as i said getting the timing right is pretty much impossible. time and market will be the ultimate judge ;)

Re: Bitcoin blow as fund drops U.S. exchange application

#68

Post by jameskegel »

josh2600 wrote: post #61
LrnByTeach wrote: post #52

Earlier quoted context omitted.

Yes, Good source for BTC historical data https://www.coinigy.com/bitcoin-data/

BTC is easy. There are a million sources for it. The altcoins are the hard ones.

Which trade pairs are you looking for that Coinigy doesn't track and service already?

Re: Bitcoin blow as fund drops U.S. exchange application

#69

Post by clarkmoody »

readhn wrote: post #67
clarkmoody wrote: post #38

Earlier quoted context omitted.

The first time I saw someone refer to Bitcoin as tulips was in 2011 when I started in the space. I'm sure others labeled it as such as soon as it started trading in 2010 at $0.06.

a few people have been called crazy for pointing out bubbles... prematurely. it does not change the fact that its still a bubble. as i said getting the timing right is pretty much impossible. time and market will be the ultimate judge ;)

Do you think that the entire space "is a bubble" as in, "cryptocurrency itself will go away one day." Or did you mean "is in a bubble" as in, "the price will drop significantly someday."

Re: Bitcoin blow as fund drops U.S. exchange application

#70

Post by ringaroundthetx »

benmowa wrote: post #54
sova wrote: post #44

Earlier quoted context omitted.

Whoa. So the likelihood of an SEC-backed coin exchange is... nonzero??

well if crowdfunding can get OK'd ..... why not crypto? https://www.sec.gov/news/pressrelease/2015-249.html

Crowdfunding was OK'd by Congress in the financial reform bill of 2010 and the JOBS act of 2012, it took the SEC 3 additional years of dragging their feet to be forced to be "okay" with it, and the SEC introduced many compromises which makes crowdfunding under those regulations to be dead-on-arrival with the 1 million usd limit and similar costs as other kinds of fund raising.

Despite that, understand that crypto enjoys no such luxury from Congress, and what we are talking about here has nothing to do with crowdfunding via crypto like the ICOs, but instead digital commodity trust ETFs

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