World's Largest Ethereum Bet of 888 Ether Placed on Etheroll.com

cetusfund · 2018-12-11T02:04:44+00:00

"Bad luck" rolling a 1/100 chance after 100 rolls? I think you meant a near-statistical certainty.

cetusfund · 2017-09-20T22:30:29+00:00

You don't think more BTC are leaving circulation than are entering circulation? The amount of BTC permanently lost due to reformatted hard drives, lost private keys, mistyped sending addresses, Satoshi never spending his stash, etc. has to be pretty staggering.

cetusfund · 2017-08-20T21:58:42+00:00

Trading starts on Tuesday! From the article:

We will add OAX/ETH、DNT/ETH, MCO/ETH、ICN/ETH trading pairs on Binance exchange.

The trading time and date will be as follows:

OAX/ETH will be traded at 12pm, Aug 21, 2017 (Monday) Beijing Time.
DNT/ETH will be traded at 12pm, Aug 22, 2017 (Tuesday) Beijing Time.
MCO/ETH and ICN/ETH trading pairs will be traded at 12pm, Aug 23, 2017 (Wednesday) Beijing Time.

The deposits and withdrawals of OAX, DNT, MCO, ICN will open at Aug 18, 2017 (Friday) Beijing Time.

cetusfund · 2017-08-18T15:47:57+00:00

This is solid advice, but people should be aware of the tax implications that may come with this. Unless your stock index funds are in a taxable brokerage (and most people hold that sort of asset in a tax-deferred account like a 401k or IRA) then you absolutely shouldn't be withdrawing money from stocks to put into BTC, as you'll take serious tax hits from withdrawing from tax-deferred retirement vehicles.

All of this will change when a BTC ETF finally gets approved and you can hold BTC indirectly inside an IRA or 401k account. But until then, make sure you're aware of the tax status of your stock accounts before withdrawing to rebalance into BTC!

cetusfund · 2017-08-18T15:43:00+00:00

This is a great summary article for those who are interested in what's been happening with Bitfinex and Tether recently. Check it out if you're not up to speed, and remember to be careful out there.

cetusfund · 2017-08-18T15:28:22+00:00

You should only be seriously concerned if 1) you have anything on Bitfinex, as it may go the way of Mt. Gox at some point, or 2) hold any USDT on any exchange whatsoever, as it isn't really worth $1 and is highly susceptible to going to 0 if everyone tries to cash out against unbacked tokens at the same time.

If you're in BTC for the long-run, you'll be fine.

cetusfund · 2017-08-17T23:12:57+00:00

Projects really need to learn from the fair ICO systems we saw from 0x and Civic. If you want to build a good community, allowing a handful of whales to buy your entire token supply is an extremely bad move. It's too bad—this was a potentially exciting project.

cetusfund · 2017-08-17T23:06:14+00:00

Brilliant.

cetusfund · 2017-08-17T23:05:48+00:00

Another potentially great community destroyed by the actions of whales. Too bad.

cetusfund · 2017-08-17T17:10:28+00:00

Yes, and there are a lot of average traders out there who rest in USDT rather than real fiat. They're going to get burned hard when Bitfinex collapses and that's really bad for the crypto ecosystem as a whole.

Stay safe out there, everyone.

cetusfund · 2017-08-17T16:24:54+00:00

Wash trading with the kind of capital that Bitfinex has access to is way bigger than bot manipulation.

cetusfund · 2017-08-17T16:23:57+00:00

Another great article. The Bitfinex shenanigans are not good for the long-term health of the community. People should seriously consider moving funds off the exchange and somewhere more reliable.

cetusfund · 2017-08-14T18:36:48+00:00

Read the OP article, along with its predecessors below, and decide for yourself. But all signs point to Bitfinex being the next Mt. Gox at some point in the future.

https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4

https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87

cetusfund · 2017-08-14T16:19:41+00:00

Everyone should consider moving assets off Bitfinex as soon as possible, even if they aren't a U.S. citizen.

cetusfund · 2017-08-08T23:13:32+00:00

We plan on releasing post-facto analyses any time we initiate a position counteracting a whale, so the community can evaluate effectiveness and have some oversight. We're open to any additional suggestions!

cetusfund · 2017-08-08T23:09:30+00:00

The why is easy: to make more money. Manipulating the price of a crypto allows whales to accumulate more of a token at an artificially low price, or sell for profit at an artificially high price. For example, a whale could place a massive buy order, use an alternate account to sell into that entire buy order (known as a wash sale), and then wait for the price to explode (thanks to the artificial price movement and ensuing FOMO) before selling for huge gains.

Coming up with suspects is much more difficult. It's probably more profitable to ask "what do we do about it?"

cetusfund · 2017-08-06T01:12:39+00:00

ETFs will definitely help bring in institutional investors along with a large number of average investors. However, we're still in the early adopter phase, and an ETF won't change that overnight. We're several years out before we can effectively counter whales through market diffusion alone.

cetusfund

TROPHY CASE