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Crypto Weekly News — October, 9

What important crypto events happened last week?
Cryptocurrencies
The AAVE Token Arrives On Gemini
Regulated cryptocurrency exchange Gemini has added support for AAVE (formerly LEND) tokens, of another protocol widely used in DeFi. At the moment, only custody and deposit services are available; trading will arrive shortly.
RSK & RIF Integrate DAI Stablecoin
The RSK team, which developed a sidechain extension of Bitcoin with support for smart contracts, announced that the stablecoin DAI is now available on its platform. This integration allows users to transfer DAI from Ethereum to the RSK sidechain, making the stablecoin available for usage in a DeFi ecosystem supported by Bitcoin.
Litecoin Inches Closer To Greater Privacy With Mimblewimble Testnet
The long-awaited Litecoin update, designed to increase the privacy level of the network, has come closer due to the test launch of MimbleWimble technology. Charlie Lee first announced his plans to integrate this technology in early 2019, but progress only appeared with the arrival of the Grin++ developer David Burkett in December 2019. The MimbleWimble update will allow users to hide their transactions and personal data.
Projects And Updates
Access To DeFi Oracles: Radix Integrates Chainlink
Radix announced integration with Chainlink to make DeFi Oracles more accessible to developers, which will facilitate the spread of traditional financial services through decentralized applications. Radix is a first-level Protocol created specifically for DeFi. According to its CEO Piers Ridyard, the data access that developers will get after integrating with Chainlink is vital for providing the best infrastructure to build next-generation DeFi products.
Brave Websites And Browser Now Available On TOR
Brave web browser, which has user privacy its top priority, has announced that its websites will now be accessed directly from the dark web through .onion addresses. Greater integration with Tor will make users' experience with its services even more secure.
Bitfinex Starts Staking On Cardano
Bitfenix cryptocurrency exchange has announced the launching of Cardano (ADA) staking. There is no minimum amount to stake, and ADA stakeholders can expect an income of up to 4.3% per annum with weekly payouts. In most cases, users will be able to withdraw funds immediately.
Switcheo Launches Zilswap, First Decentralized Exchange DEX On Zilliqa
The team of developers of the decentralized trading platform Switcheo will launch an analog of the Uniswap exchange, specialized in trading the DeFi market’s tokens. The exchange named Zilswap will be based on the scalable Zilliqa blockchain and will be the first of its kind.
Hacking
KuCoin Exchange Hackers Identified
The KuCoin exchange's CEO, Johnny Lyu, informed that his team found out who committed the hacking of the site on September 26. In his tweet, he noted that the company has substantial proof of the suspects' guilt and that the case is being handled by law enforcement officials. According to the official statement, the company has enough funds to cover all losses.
Bungled Theft Of Bitcoin ATM Puts Canadian Business Out Of Action
In the Canadian Kelowna, an attempt to steal a Bitcoin ATM ended with failure. The unlucky burglars could not take the ATM away but caused significant damage to the building by their truck.
Regulations
A Digital Euro May Be Imminent: ECB Could Launch Digital Euro Project In 2021
The European Central Bank is considering its cryptocurrency project. The decision will be made in mid-2021 after conducting surveys among EU citizens and consulting financial experts.
People
John McAfee Could Face A 5-year Jail Term Over Concealed Crypto-Assets And Tax Evasion Allegation
John McAfee, the founder of the antivirus company McAfee, may end up in prison for tax evasion. His charge includes allegations of cryptocurrency frauds, registration of a property for the third persons, and using false names making bank transactions.
Winklevoss-Founded Crypto Exchange Gemini Hires Former Morgan Stanley Exec
Gemini crypto exchange has hired Andy Meehan, a former executive at Morgan Stanley investment bank, to expand in the Asia-Pacific region. According to the press release, Meehan will work with regulators "to promote smart regulations that drive adoption in this growing market".
Exclusive Interview With David Waslen From HedgeTrade
David Waslen, the CEO and co-founder of HedgeTrade, gave CoinJoy an interview in which he talked about new technologies, the accuracy of market predictions, and shared exclusive news about the project.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to CryptoCurrencies [link] [comments]

Crypto Weekly News — October, 9

What important crypto events happened last week?

Cryptocurrencies

The AAVE Token Arrives On Gemini
Regulated cryptocurrency exchange Gemini has added support for AAVE (formerly LEND) tokens, of another protocol widely used in DeFi. At the moment, only custody and deposit services are available; trading will arrive shortly.
RSK & RIF Integrate DAI Stablecoin
The RSK team, which developed a sidechain extension of Bitcoin with support for smart contracts, announced that the stablecoin DAI is now available on its platform. This integration allows users to transfer DAI from Ethereum to the RSK sidechain, making the stablecoin available for usage in a DeFi ecosystem supported by Bitcoin.
Litecoin Inches Closer To Greater Privacy With Mimblewimble Testnet
The long-awaited Litecoin update, designed to increase the privacy level of the network, has come closer due to the test launch of MimbleWimble technology. Charlie Lee first announced his plans to integrate this technology in early 2019, but progress only appeared with the arrival of the Grin++ developer David Burkett in December 2019. The MimbleWimble update will allow users to hide their transactions and personal data.

Projects And Updates

Access To DeFi Oracles: Radix Integrates Chainlink
Radix announced integration with Chainlink to make DeFi Oracles more accessible to developers, which will facilitate the spread of traditional financial services through decentralized applications. Radix is a first-level Protocol created specifically for DeFi. According to its CEO Piers Ridyard, the data access that developers will get after integrating with Chainlink is vital for providing the best infrastructure to build next-generation DeFi products.
Brave Websites And Browser Now Available On TOR
Brave web browser, which has user privacy its top priority, has announced that its websites will now be accessed directly from the dark web through .onion addresses. Greater integration with Tor will make users' experience with its services even more secure.
Bitfinex Starts Staking On Cardano
Bitfenix cryptocurrency exchange has announced the launching of Cardano (ADA) staking. There is no minimum amount to stake, and ADA stakeholders can expect an income of up to 4.3% per annum with weekly payouts. In most cases, users will be able to withdraw funds immediately.
Switcheo Launches Zilswap, First Decentralized Exchange DEX On Zilliqa
The team of developers of the decentralized trading platform Switcheo will launch an analog of the Uniswap exchange, specialized in trading the DeFi market’s tokens. The exchange named Zilswap will be based on the scalable Zilliqa blockchain and will be the first of its kind.

Hacking

KuCoin Exchange Hackers Identified
The KuCoin exchange's CEO, Johnny Lyu, informed that his team found out who committed the hacking of the site on September 26. In his tweet, he noted that the company has substantial proof of the suspects' guilt and that the case is being handled by law enforcement officials. According to the official statement, the company has enough funds to cover all losses.
Bungled Theft Of Bitcoin ATM Puts Canadian Business Out Of Action
In the Canadian Kelowna, an attempt to steal a Bitcoin ATM ended with failure. The unlucky burglars could not take the ATM away but caused significant damage to the building by their truck.

Regulations

A Digital Euro May Be Imminent: ECB Could Launch Digital Euro Project In 2021
The European Central Bank is considering its cryptocurrency project. The decision will be made in mid-2021 after conducting surveys among EU citizens and consulting financial experts.

People

John McAfee Could Face A 5-year Jail Term Over Concealed Crypto-Assets And Tax Evasion Allegation
John McAfee, the founder of the antivirus company McAfee, may end up in prison for tax evasion. His charge includes allegations of cryptocurrency frauds, registration of a property for the third persons, and using false names making bank transactions.
Winklevoss-Founded Crypto Exchange Gemini Hires Former Morgan Stanley Exec
Gemini crypto exchange has hired Andy Meehan, a former executive at Morgan Stanley investment bank, to expand in the Asia-Pacific region. According to the press release, Meehan will work with regulators "to promote smart regulations that drive adoption in this growing market".
Exclusive Interview With David Waslen From HedgeTrade
David Waslen, the CEO and co-founder of HedgeTrade, gave CoinJoy an interview in which he talked about new technologies, the accuracy of market predictions, and shared exclusive news about the project.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

How and why exchanges are manipulating the price in order to capitalize on the new market dynamics

The current market seems to be largely driven not by organic buying and selling, but by exchange driven manipulation of the spot market to exploit the current dynamics of leverage trading. We just saw it again now as they liquidated 3K longs but you can see this pattern of clear manipulation over and over in the last few weeks .
We have seen several forces set an incentive for exchanges to do this:
Some exchanges like Gemini have reacted to all of this by increasing their trading fees by 400%. Meanwhile Bitfinex specifically seems to be using its hefty weight to manipulate the price in order to capitalize on the record number of people using margin to bet.
Both longs and shorts are bets on the price moving up or down and they have a "liquidation price" at which they get liquidated by the exchange, essentially the exchange gets the entire stack they bet with and extracts a high market fee multiplied by the leverage. Since the exchanges know the characteristics of the outstanding shorts/longs, and since volume is low after these pumps or dumps leading to sideways drift, they can essentially engineer movements in price that create income in terms of liquidations. When there are lots of overleveraged shorts, an exchange can pump the price with bots briefly and collect the short position. Same with longs but in reverse, a quick burst of selling pressure.
You can see this in the most recent pumps too on Bitfinex, where 1K buy orders appear out of nowhere after long sideways movement only to be followed by either sideway movement or slow bleed on pathetic volume:
https://i.imgur.com/3YaWVBI.png
https://i.imgur.com/pvpcd7Z.png
Take a look at the most recent pump up to 7K, it instantanously liquidated about 700 short positions:
https://i.imgur.com/3sCLEB8.png
Now this last dump was a laddered 12.5K sell order on Bitfinex that liquidated around 3K long contracts
https://i.imgur.com/znYyUT8.png
Bitfinex tends to be where the big money traders move (their minimum deposit is 10K) so even if each long position was only 0.5 BTC on average they exchange would make a ton of money. If you look at the BitmexRekt twitter feed that shows a running list of Bitmex liquidations with humorous commetary, you will see many >$1 million dollar positions being liquidated during these moves.
This is what all the "Bart" formations we have seen stem from. Its not George Soros pumping Bitcoin for shits and giggles, nor is it the nebolous "whales". They have no incentive to try and pull off PnDs now that it only leads to either sideways movement or decline after the pump. A PnD only works if the delta between the top of the pump end point and dump initiation point is positive, while now it seems to be followed by sideways movement. Those who do want to bet on further upward movements seem to be doing it off the spot market, using margin with futures and perpetuity swaps on Bitmex. This makes the low volume spot market ripe for manipulation, exchanges like Bitfinex and Bitmex have every incentive right now to manipulate the price.
Looking back it seems almost inevitable that this would have happened, that traders would try to replicate the gains they saw by buying and selling on the spot market a few months ago by using increased leverage and derivatives. In December and January there were days where your holdings would increase by at least 20% no matter what you bought. Once you experience those 20% daily gains you don't want to go back to a market where it slowly bleeds down a few percent every week, so people jumped in on high leverage short positions to multiply their profit on those single percent moves down.
For the small time investor there really isn't much you can do to stop this. This is what being part of an unregulated market means, it means that things like wash trading and long/short liquidation hunting is allowed.
All you can really do if you're a trader is look at the current ratio of longs vs shorts on Bitfinex and be aware that once short contracts become too high its possible that an exchange may pump the price to profit on it, while if the longs become too dominant we may see a dump.
Edit: Bitfinex, not Bitfenix.
submitted by arsonbunny to CryptoCurrency [link] [comments]

[Build Complete] Silverstone FT03 Mini w/ GTX Titan 'oZo' PICS a plenty

Hello,
I built oZo from my old Bitfenix Prodigy build. I wanted a smaller case (Pic is deceiving but it's about 1/3rd of the Prodigy) but I also wanted a Titan and so the FT03-Mini case sat in my Amazon cart for several months while I thought about it. After doing much research and knowing other people did it, but not how I decided to just go for it. I'm really glad I did. I drilled, and cut a TON of metal over my bathtub with JLO style sunglasses on to get a big enough opening for the titan. This case is perfect for this mod as the side panels are like curtains and they cover any of the cutting. Also black electrical tape goes a long way. The hole in the bottom isn't bad, and to keep the filter on I used 2-sided velcro which works fantastic and keeps it very flush. Filter required on a bottom fan sitting on hardwood floor :D Temps are great so far, and I also used a Noctua resistor ULN adapter to slow the fan a little bit but haven't decided if I want to use the Noctua Fan, may swap that out. It's very quiet with the Penetrator fan right now.
COMPONENTS:
PICS GALORE! http://imgur.com/a/vIzK4
All parts bought from Amazon or NewEgg.
Feel free to ask any questions.
Other favorite reddit's /bitcoin /rawdenim
submitted by heeblet to buildapc [link] [comments]

Charlie's Thoughts - Friday, June 27th, 2014

Happy Friday!
I decided to post some of my thoughts today. It's about 6pm ET on this Friday, the Silk Road Auction Day. Banks on the east coast have closed and west coast banks are soon to follow.
In 15 minutes bidding closes for the 30,000 Silk Road coins.
quintin3265 hasn't posted his "a few thoughts" today, and I know many of us (including myself) are looking for some thoughts on this insane day (EDIT: As I'm writing this he posts lol), so I wanted to jot down some of mine on the day, the weekend, and next week.
Today
Yesterday and overnight we saw a nice recovery to $590 (after our drop from $590 that happened on Wens) and it was met with a large amount of resistance, the price simply couldn't break upward. The volume wasn't huge over a short period of time, rather it was done over a 4-8 hour window. Personally, I prefer when the price rises consistently over a period of a few hours than in 1 shot. About an hour ago, we saw a $15 drop, about 700 BTC sold within a 30 minute period. As I'm writing this, the price is building itself back up, currently at $582.55.
Personally, I've been wanting to buy all week. I'd like to buy another 6 BTC or so before the auction results are announced or leaked. I'm tapped out at the moment, I like to keep enough USD in my credit union to cover 3-4 months worth of bills (my other assets are either not liquid or have penalties for selling) and if I buy 6 BTC now, that's reducing myself to 2 months of USD in the credit union. Thankfully, my consulting work pays in BTC and payday is Monday. I've been quietly praying that if we see a significant jump, it is not until Monday afternoon.
The Weekend
Honestly, this can go either way. We've seen weekends with a slow 3 day $40 rise and we've seen weekends where the opposite happens. Anyone who tells you the price always rises or always drops on weekends has no idea what they are talking about.
I'd like to see data from Bitstamp/Bitfenix that shows a chart of how much USD/EUCNY vs BTC they are holding. Not to do with fractional reserve or anything, I'd like to see if there was a significant amount of fiat that has been wired in, anticipating a rise. If those numbers are high, and my friends who work for companies that are bidding are telling me the truth, their exchange accounts are fueled with fiat and ready to buy.
Many people have predicted that this week people would be buying up, especially those who work for the companies that are bidding, as they would know the bid. However wouldn't it be smarter for these insiders to wait until after the bid closes at 6? I think so. The reason being, they can buy up cheap coins and no one else at the same time they will get more coins as they buy up to the bid price. Once bidding ends and the banks close, people won't be able to send wires into the exchanges to buy more coins. These insiders may be saying "If we start buying on Wens, we don't know what the final bid will be, and we give other people to piggyback off us and make our coins more expensive or we get less. Rather, if we wait until banks close, we are the only ones who stocked up significant fiat thus we can buy the coins up to the bid price"
Just like quintin3265 says, the community is very small and word spreads quickly. There are always people in the know and will trade on their knowledge. The market is just waiting right now.
Next Week
The auction will end on Monday, and the winners announced. According to the USMS.gov website:
On Monday, June 30, 2014, by 5:00 PM EDT, the USMS will notify the winning biddebidders that their bid/bids has/have been selected.
This is very important, because many people are bidding solely for the sake of bidding. They want to be part of history to say they bid and have no intention of buying the coins if they win. Everyone is telling me "Well Charlie, I doubt the winners will announce what they paid". While that may be true, the losers will announce what they bid. That is very important. If the price is $580 on Monday, and someone who bid $650 announces they did not win the coins, what do you think will happen? Of course this opens us up to people lying/spreading FUD, so I wouldn't trade on some guy with a week old reddit account on /Bitcoin saying he lost, I'd wait for someone who actually has a reputation to lose to say something.
Long Term
Obviously those who know me know I'm long term bullish on Bitcoin. I bought my first Bitcoin at under $5 back in 2010 and have regretted selling when I needed to every since. Thankfully I get paid in Bitcoin and have bought on the lows and sold on the highs enough times to accumulate many back.
Nothing could happen next week, who knows. The bubble may come 2 weeks or 2 months from now, maybe we will see slow growth for a year and slow decline. It's impossible to tell for sure. What I can say, is that if you buy 1 Bitcoin today, in 5 years you'll thank me.
I'll end with a funny story. 2 weeks ago I was at the NYC Bitcoin Fair which takes place every Sunday, we have over 25 merchants accepting Bitcoin. Food, drinks, friends, and a lot of fun. Some random guy comes up to me and says "Charlie?" and I said, "Yup, thats me!", he proceeded to grab me and give me a huge hug. Now, many early adopters have had their fair share of 'Bitcoin celebrity' status, but this was unusual, even for me. Of course I asked him, why the hug? He said:
I've been wanting to thank you for so long, but I've been waiting to finally meet you in person. 3 years ago when you were running BitInstant I made a cash deposit to buy some Bitcoin when the price was going up! A few days after I bought, the price totally tanked and I was furious, I spent $1000 but my Bitcoins were worth almost half. I emailed you to blow off some steam and you answered a day later telling me to hold onto the Bitcoin unless I really really needed the money. Well, I listened to you and about a year ago I sold some during the $1200 bubble and bought an awesome Lexus!
Granted, if the price was zero right now, he wouldn't be coming at me for a hug, rather for something else. It was still nice to hear the story none the less and he bought me a burger as a thank you :)
Have fun this weekend, go outside and enjoy the summer!
Charlie Shrem
submitted by Bitcoin_Charlie to BitcoinThoughts [link] [comments]

My most painful PC Build... - ROG Rig Reboot 2019 - YouTube Bitwit - YouTube Tutorial Part 6 Lets Learn Margin Trading Bitfinex Trading Crypto Long Shorting Leveraging Proof Bitcoin topped out & drop is coming! I would take my profits before it's too late LIVE TRADING 3 POSITIONS - Crypto Trading, Ethereum, IOTA, EOS on Bitfinex

Bitfinex trade volume and market listings Bitcoin prices have fallen sharply One of the most direct impacts of the Bitfinex hack could be seen in the price of bitcoin, which plunged after the news broke. Prices fell by nearly 20% ... bitfinex is one of the worst exchange i have ever used. I have deposited a small amount of bitcoin which was 0.0017 btc to test out the exchange before dive deep into it. my transaction was successful at btc.com and has 200+ confirmations and also it showed “completed” in the transaction section and when i go to my wallet there is nothing there. it doesnt show up in my wallet. it was about ... Various statistics on Bitfinex. Bitfinex is the largest and most advanced cryptocurrencies exchange. Bitfinex offers order books with top tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO and many other digital assets with minimal slippage. Margin funding. Liquidity providers can generate yield by providing funding to traders wanting to trade with leverage. Funding is traded on an order book at various rates and periods. Margin trading. Bitfinex ...

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My most painful PC Build... - ROG Rig Reboot 2019 - YouTube

This is the beginning of the end for Bitcoin. The greed index if at 95% and the NVT is screaming a drop is coming. I show this using simple TA using pitchfor... Join Dominic and special guest Cavisicolina in a walk around of the MLG Crypto-Currency PC gaming machine that he just recently finished. Also take a look at his gaming setup along with the ... Thanks to the ASUS Republic of Gamers for sponsoring this video! Check out the complete line of ASUS ROG gear on Amazon (Paid Link) at https://geni.us/tDFiz ... Live bitcoin price and chat. We're back after a long time away! We now have a dedicated rig, so we truly can be 24/7! There may be some technical hiccups and restarts in the first few days as I ... That which is boxed must be unboxed. Unless it's filled with snakes. Don't open that.

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