Woo hoo! Alt-cap-to-Btc cap has snuck over 14%.
Moving up slowly, even though the bitcoin price remains somewhat steady, pretty interesting. |
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This will be interesting to follow, US Bankruptcy Court Set to Weigh in on Bitcoin's Currency StatusA California bankruptcy court is set to weigh in on whether bitcoin should be considered a currency. The hearing, set for 19th February, follows months of legal wrangling between the trustee of bankrupt bitcoin mining firm HashFast and Marc Lowe, a former promoter for the service who operated under the handle 'cyberdoc'. Trustee Michael Kasolas filed suit against Lowe in February of last year, seeking to recoup 3,000 bitcoins that had been paid by HashFast to Lowe for promoting the service, including a series of posts on the Bitcoin Talk forum. The trustees alleged that Lowe was an insider who received preferential treatment from the firm, including the awarding of a refund while other customers were awaiting theirs, prior to HashFast’s bankruptcy. Commodity or currency? In a 22nd January filing, the trustees asked for a summary judgment requiring that Lowe return the 3,000 bitcoins, as well as – perhaps more importantly – a determination that bitcoin is a commodity rather than a currency. By doing so, the court would essentially require that Lowe pay back the 3,000 BTC at today’s rate rather than the value, in dollar terms, when he received it in September 2013. The filing states: “Accordingly, the Court should grant the Motion and enter an order directing that if the subject transfers are avoided, the estate’s recovery shall be either the 3,000 bitcoin themselves or the value of those bitcoin at the transfer date or time of recovery, whichever is greater. This result is consistent with both established Ninth Circuit law and section 550(a)’s purpose of restoring the estate to the financial condition it would have enjoyed had the transfers not occurred.” Predictably, Lowe pushed back, seeking the opposite ruling in a 5th February court filing. The heart of his argument was that, during the time he was promoting HashFast’s products, the company was treating bitcoin as a type of currency. “ The bitcoin Dr. Lowe received from HashFast should be treated as currency, not a commodity,” the filing states. “That was how HashFast intended bitcoin to be treated at the time it sent the bitcoin to Dr. Lowe, and that is how federal agencies, merchants, courts, the Debtor, and the Trustee himself have treated bitcoin. The Court should not grant the Trustee the undeserved windfall he is seeking.” |
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Quoted from CryptoMoms I wrote this one a while ago, and not sure why I held off on publishing it. It's still just as applicable today. As much positive as the Cryptosphere has going for it, the industry as a whole has a number of serious flaws, one of which is basic lack of professionalism. This article elaborates on some of the manifestations I've personally experienced, and urges the reader to not do them. I'm sure that it's totally preaching to the choir to post it here, but if you've been around the Cryptosphere for any amount of time, I bet you've had similar experiences. Feel free to share here or as a comment to the blog. On not self-destructingKudos to Alan (Shepherd) and the entire DNotes leadership team for also noticing this and making it a priority to maintain an atmosphere of utmost professionalism in all aspects of the DNotes journey! Excellent write-up, Wiser. A recommended must read. Thanks for a great contribution to the community. We all can learn from it. Great write up wiser! |
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I resurrected my thread about retiring on faucets over on CryptoMoms. I decided to kind of start all over with an even less labor intensive approach, which I figure will appeal to people who have very limited time. I'm considering offering prizes for a friendly competition if the interest is there. I've got plenty of DNotes for a few small prizes. Although faucet earnings are generally considered negligible they can be a way for people who have absolutely no other way to acquire cryptos to get involved and even turn those negligible earnings into something that could be significant down the road. For this reason, it makes sense to raise some awareness of the possibilities. Here's the new message: http://cryptomoms.com/forum/general-discussion/9/could-i-retire-on-faucets/951/msg6088#msg6088Thank you wiser, looks great! It's seems faucets have lost traction in popularity over the last year, but still a fascinating concept and great for everyone trying to get started in cryptocurrency. |
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That is significant, their stocks are down 12% to 22%, and one company is going to lay off 4,000 employees. I take it the fines from 'white collar crimes' are killing them and people are in turn losing confidence. Hopefully the digital currency and fintech industries have and will continue to absorb some of the loss in jobs. It is always disheartening to see people being laid off, especially under these circumstances. |
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The game plan would be to have a small light weight bot for each strategy. You would have a separate exchange account assigned to your bot. This would make it easy to run multiple strategies on multiple accounts.
So far the ideas for bots are (I will elaborate on features and options later):
Hold the Line - Ensures there is always a buy order with a given price range.
Market Stabilizer - Watches the market for swings in price and reacts to it to stabilize the market. (Without trying to hinder market growth*)
Accumulator - Slowly buys and competes at the best market price.
Bollinger Bands - bid X% inside each bollinger band.
Profit Model Accumulator - Buys low and sells higher with the intention of accumulating DNotes through small profit trades.
Feel free to throw out more ideas, strategies, and discuss what we have so far.
The Accumulator should be good to go soon. I've been running it for a couple days now, with a small amount, using the percentage option. That will take care of the Hold the Line option as well, unless we feel it doesn't have the right options for Hold the Line? For the Market Stabilizer, I was thinking we could take an x day average of the weighted average, and the Average Trading Range, to calculate where the market should be. We could possibly use the daily highs and lows as well. You can see all this kind of data if you click the Charts button in the accumulator. Options for determining the low/high end. So we can configure where to buy and sell. 1) Average of the last X days daily low/high. 2) Average of Weighted Average +/- (Average Trading Range / 2) over the last X days. Something else? |
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Wishing a Happy New Year to all Chinese DNotes holders, and hope you find prosperity in a time of economic uncertainty.
Well said CryptoBroker, Happy New Year to our Chinese supporters! |
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We have a new set of Categories in the CryptoMoms forum, under Finance & Money. Chase is spending a lot of time to market CryptoMoms and working on the forums, and recently taken over the CryptoMoms twitter account. IMZ and wiser have put in a great deal of effort to help support the CryptoMoms forums as well.
Since we have also seen an increase in CryptoMoms popularity.
5272 Posts in 618 Topics by 17096 Members.
CryptoMoms is ranked 211,000 in U.S. in the Alexa Traffic rank (the lower rank the better) which is impressive, getting close to DCEBrief. I don't remember what it was before, but I know it wasn't close to 211k.
Thank you for everyone's support, CryptoMoms is certainly growing.
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Some limited features available, namely using purchase by percentage of available bitcoin. DownloadThis would be a limited feature Alpha release, so very limited testing has been done. What is the risk? As long as this is run on a separate PoloniEx account, with limited funds in it, and you do not set the API keys to allow withdrawing (by default withdrawing is disabled), then the risk is probably limited to over purchasing DNotes if the application misbehaves. I don't see that happening, but you never know. How do I set it up? -Register a brand new PoloniEx account. -Once logged into your new PoloniEx account, click the wrench in the upper right hand corner and select API keys. -Create New API key. - Download and unzip the Accumulator.zip file to a folder. -Open Accumulator.exe and enter your API key and Secret, then click save API keys. -Deposit whatever amount of BTC into your new PoloniEx account that you are looking to purchase DNotes with. -Wait for the BTC to confirm. Then you can adjust your bot settings and click the Start Bot button. Some notes: The application breaks the purchases into hourly amounts. If the bot already purchased too much, it will wait an hour before re-calculating. Time is set to UTC time, to match PoloniEx. It does require DotNet 4.5 or higher. If it doesn't work, you will likely need to update DotNet. I won't be providing Mac or Linux versions in the near future, if there is a demand at a later point, we will definitely consider creating them or offloading to a trading bot developer. I am releasing this with limited functionality to give the community an opportunity see how it works and comment. The backstop function is now enabled, you can Download it here. It will function as just a backstop bot if you uncheck the Purchase using percentage option. Otherwise it will do both. Cool, what is the charts button for? Forgot to remove it, it just pulls daily information about DNotes trading history and dumps it into a grid. Probably not very useful, unless you are analyzing DNotes trade history. |
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Some limited features available, namely using purchase by percentage of available bitcoin. DownloadThis would be a limited feature Alpha release, so very limited testing has been done. What is the risk? As long as this is run on a separate PoloniEx account, with limited funds in it, and you do not set the API keys to allow withdrawing (by default withdrawing is disabled), then the risk is probably limited to over purchasing DNotes if the application misbehaves. I don't see that happening, but you never know. How do I set it up? -Register a brand new PoloniEx account. -Once logged into your new PoloniEx account, click the wrench in the upper right hand corner and select API keys. -Create New API key. - Download and unzip the Accumulator.zip file to a folder. -Open Accumulator.exe and enter your API key and Secret, then click save API keys. -Deposit whatever amount of BTC into your new PoloniEx account that you are looking to purchase DNotes with. -Wait for the BTC to confirm. Then you can adjust your bot settings and click the Start Bot button. Some notes: The application breaks the purchases into hourly amounts. If the bot already purchased too much, it will wait an hour before re-calculating. Time is set to UTC time, to match PoloniEx. It does require DotNet 4.5 or higher. If it doesn't work, you will likely need to update DotNet. I won't be providing Mac or Linux versions in the near future, if there is a demand at a later point, we will definitely consider creating them or offloading to a trading bot developer. I am releasing this with limited functionality to give the community an opportunity see how it works and comment. The backstop function is now enabled, you can Download it here. It will function as just a backstop bot if you uncheck the Purchase using percentage option. Otherwise it will do both. |
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Digital Currency Weekly Recap 2-7-2016UN’s ECLAC Recommends Caribbean Pursue Cryptocurrency Innovation. Factom Partners with China for Smart City Project. Survey Shows BTM Users Reluctance to Offer Altcoins in ATMs. Major Japanese Bank Unveils Its Own Cryptocurrency. http://dcebrief.com/digital-currency-weekly-recap-2-7-2016/ Great recap Ken! I agree, this was a bit disappointing: Coin Telegraph recently published an article providing some insight into the results of a survey they conducted with Blockchain ATM owners to assess their opinions about offering altcoins to their customers. While there was some support for offering currencies other than Bitcoin if customers demanded it, most of the respondents asserted that no such demand had yet materialized. It may not have been a large amount of support, but I'm sure that will grow. |
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Digital Currency Weekly Recap 2-7-2016UN’s ECLAC Recommends Caribbean Pursue Cryptocurrency Innovation. Factom Partners with China for Smart City Project. Survey Shows BTM Users Reluctance to Offer Altcoins in ATMs. Major Japanese Bank Unveils Its Own Cryptocurrency. http://dcebrief.com/digital-currency-weekly-recap-2-7-2016/
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A fair bit of this article is similar to what we have read in many other articles but there was one part of it that caught my attention. Perhaps cryptocurrency's 'concept of divisibility' needs an education push?? Why Bitcoin Looked Much More Grown Up This week"The concept of divisibility was so alien that many people couldn’t grasp the idea despite its basic simplicity. Instead of issuing more coins as the global economy grew, the idea was, why not simply use smaller and smaller fractions of the existing coins? That solved the issue presented by growth while increasing the value of the existing currency of savers."Read more: http://www.nasdaq.com/article/why-bitcoin-looked-much-more-grown-up-this-week-cm574995#ixzz3zPIA5I6VI think that's a good idea Chase. The whole concept of money as we know it will change as cryptocurrency becomes more and more widespread. The world simply isn't used to decimals beyond the hundredth, never mind hundred millionths. Moving the decimal point and renaming the unit seems like a good idea, for example DNotes price is 1247 satoshi, but I don't know where it will settle. We can certainly lay out the methodology behind it though. I guess we would have to wait a while to see where it settles, and when the time is right, it may be easier for people to start wrapping their head around it if it followed a metric prefix (or something similar?). A lot of people may struggle with the 8th decimal place in currency because they are not used to it, but even more will be wondering why we even need it. If they could comprehend the fact that dividing existing currency into smaller units as needed instead of the government printing off currency on a whim, would protect their wealth, they may come to realize that this is a really good thing. Is it a fair assumption to say that everyone in cryptocurrency is probably good at math, so decimals are not an issue here?  Lol, that is probably true, and here people have a vested interest in learning and adapting to it. Either way, it will make a great topic to cover, and has the potential to relieve some of the fear of cryptocurrency. |
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A fair bit of this article is similar to what we have read in many other articles but there was one part of it that caught my attention. Perhaps cryptocurrency's 'concept of divisibility' needs an education push?? Why Bitcoin Looked Much More Grown Up This week"The concept of divisibility was so alien that many people couldn’t grasp the idea despite its basic simplicity. Instead of issuing more coins as the global economy grew, the idea was, why not simply use smaller and smaller fractions of the existing coins? That solved the issue presented by growth while increasing the value of the existing currency of savers."Read more: http://www.nasdaq.com/article/why-bitcoin-looked-much-more-grown-up-this-week-cm574995#ixzz3zPIA5I6VI think that's a good idea Chase. The whole concept of money as we know it will change as cryptocurrency becomes more and more widespread. The world simply isn't used to decimals beyond the hundredth, never mind hundred millionths. Moving the decimal point and renaming the unit seems like a good idea, for example DNotes price is 1247 satoshi, but I don't know where it will settle. We can certainly lay out the methodology behind it though. |
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Blockchain Weekly Recap 2-6-2016UNICEF Innovation Fund to Invest in Blockchain Startups. Equibit Secures $150,000 Closing Its Angel Funding Round. Digital Asset Holdings Exceeds $60 Million in Funding Round. Blockstream Series A Funding Hits $55 Million. JPMorgan Chase Launches Blockchain Project Trial. Identity Management Firm Cambridge Blockchain Wins Santander Competition Top Prize. http://dcebrief.com/blockchain-weekly-recap-2-6-2016/
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