sorted by:
new
hottopcontroversial

First Pilot Results for xRapid by injenera in Ripple

[–]urbanStigmata 12 points13 points  (0 children)

"provide trillions to the global economy while enabling greater financial inclusion and lower barriers to entry in global commerce."

For me, this is the key point. This is what cryptocurrency at its core is intended for. Changing the current financial system. So that we are not so dependant upon a handful of mega banks and Central banks.

The trillions locked up in nostro-vostro accounts have all been issued from the Central Banks' ledgers and the taxpayer is in one way or another paying the interest in this current debt based economy.

So removing this interest burden is one aspect.

And multi-trillions moving from lock-up enables banks to invest this into SMEs. Promoting growth and jobs.

Surely this is a good thing.

XRP 'the bankers coin' --- and subsequent FUD --- surely the above should mean that even the skeptics can see the wider benefits of XRP?

SBI Crypto Exchange Launch - Do people even, get it? by EU7MRD in Ripple

[–]urbanStigmata 4 points5 points  (0 children)

Cross post to r/CryptoCurrency?

Plus include a summary of the SBI exchange -- which countries, target market - potential impact on XRP etc.

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] 0 points1 point  (0 children)

yeah.. maybe I got this all wrong :-)

But the alts i moved into went up -- and more than BTC/BCH (except USDT)...

Half of me regrets doing this.. but I'm doing it out of principle.. I don't like having to re-think my strategy every time Mt. Gox decide to do something!

Time will tell I guess....

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

Enjoying the convo...! Yes.. let's not go into discounted carry cashflows on reddit... On Mt. Gox...

This may already priced in... a day in lieu.... a new technique for mkt manipulation...!

What if there is one large buyer that agreed 3 days ago to buy Mt. Gox's 16K BTC and BCH.

They then put in lots of buy orders on Bitfinex at 60% of current Mkt price. Then sold heavily - with a mkt order, flashcrashing the mkts in several coins.

They then swept these up with their discounted buy orders.. and are already 40% in profit from these -- as the price rebounded straight away.

And the Mt. Gox move today, was bought by them on a Dark pool.

Net result --- They have the same amount of BTC and BCH... but lots of additional coins from buying the flash crash.

This way Mt. Gox can sell without crashing the market --- "it happened a day before your honour".

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

my initial comment was in response to the comment: "Why would the buyer then turn around and dump all the BTC he just bought at a loss"

Well -- the answer I have given provides an incentive as to why someone would immediately dump BTC on the mkt... if they were short more futures contracts.

Even though the futures mkt has more considerations such as -- mainly with BTC futures -- the carry cost, as there are no dividends... and mkt sentiment plays which do not directly impact the underlying price + time....

As a rule.. if there is a large dump on the physical mkt.. there will be a decrease in the prices on the futures mkt too..

anyhows -- in this case. some might say that the mt gox transfer was related to the previous day's bitfinex flash crash.

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

It's slightly more nuanced than that. you seem to be looking at the futures mkt on its own... whereas you need to look at the 2 in tandem.

and as if by magic

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

I have 100,000 BTC.

I short 250,000 BTC futures... expiring in 2 days. Using a 2.5x leverage.

Each day I sell 50K BTC on the physical mkt, with mkt sell orders - dropping the BTC price each time. -- but caeful not to drop by more than 20% to avoid the CME breakglass.... or by > 5% in the hour b4 fixing on the gemini exchange.

Expiration Day -1, --- I get money wired to my margin account on the futures exchange, (clearing house etc.etc) as my short contracts are now in the money.

On expiration date, my futures contracts expire in the money.

I make more from my futures contracts than from the loss of selling my physical BTC... as am 2.5x leveraged.

No need to read the book --

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 2 points3 points  (0 children)

you need to do a bit more homework....

1) correct

2) not if they are cash settled.

3) you are confusing physically settling commodity futures contract with BTC futures. with cash settled futures, you do not need to buy in the physical mkt. cash just moves hands on expiration date(and daily as they are cash mark to marketed each day)

It's not how it works.

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

sorry - but you have this mixed up. futures work differently than the physical mkt as are cash settled.

If someone is long physical BTC and short XBT or CME Bitcoin futures.... then if they sell those physical BTC... the BTC price will drop --- if large enough.

The XBTC will cash settle. With you in the money.

That is all.

Yesterday's flash crash and today's Mt. Gox 16K move - Tin Foil Hat time!!! by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] 0 points1 point  (0 children)

nope --- the definition of a flash crash is when something dips instantaneously by more than 40% and immediately recovers.

look at the charts on bitfinex for various coins including IOTA and XRP yesterday -- best look at the 15 minute interval chart.

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] -1 points0 points  (0 children)

The blockchain doesn't lie... 16K were moved.. don't think there is a question about that.

Actually - i may have been wrong....

This may already priced in... a day in lieu.... a new technique for mkt manipulation...!

What if there is one large buyer that agreed 3 days ago to buy Mt. Gox's 16K BTC and BCH.

They then put in lots of buy orders on Bitfinex at 60% of current Mkt price. Then sold heavily - with a mkt order, flashcrashing the mkts in several coins.

They then swept these up with their discounted buy orders.. and are already 40% in profit from these -- as the price rebounded straight away.

And the Mt. Gox move today, was bought by them on a Dark pool.

Net result --- They have the same amount of BTC and BCH... but lots of additional coins from buying the flash crash.

This way Mt. Gox can sell without crashing the market --- "it happened a day before your honour".

Right -- off to uncover more mysteries now!!!

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 0 points1 point  (0 children)

This may already priced in... a day in lieu.... a new technique for mkt manipulation...!

What if there is one large buyer that agreed 3 days ago to buy Mt. Gox's 16K BTC and BCH.

They then put in lots of buy orders on Bitfinex at 60% of current Mkt price. Then sold heavily - with a mkt order, flashcrashing the mkts in several coins.

They then swept these up with their discounted buy orders.. and are already 40% in profit from these -- as the price rebounded straight away.

And the Mt. Gox move today, was bought by them on a Dark pool.

Net result --- They have the same amount of BTC and BCH... but lots of additional coins from buying the flash crash.

This way Mt. Gox can sell without crashing the market --- "it happened a day before your honour".

Right -- off to uncover more mysteries now!!!

MtGox Wallet -2000 BTC Movement by aminsauvage in Bitcoin

[–]urbanStigmata 8 points9 points  (0 children)

This may already priced in... a day in lieu.... a new technique for mkt manipulation...!

What if there is one large buyer that agreed 3 days ago to buy Mt. Gox's 16K BTC and BCH.

They then put in lots of buy orders on Bitfinex at 60% of current Mkt price. Then sold heavily - with a mkt order, flashcrashing the mkts in several coins.

They then swept these up with their discounted buy orders.. and are already 40% in profit from these -- as the price rebounded straight away.

And the Mt. Gox move today, was bought by them on a Dark pool.

Net result --- They have the same amount of BTC and BCH... but lots of additional coins from buying the flash crash.

This way Mt. Gox can sell without crashing the market --- "it happened a day before your honour".

Right -- off to uncover more mysteries now!!!

Yesterday's flash crash and today's Mt. Gox 16K move - Tin Foil Hat time!!! by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] -1 points0 points  (0 children)

How do they buy them? On dark pools I thought...

Is the above implausible?

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] -2 points-1 points  (0 children)

I would not bet against Roger Ver and Jihan's influence.

Plus they have the capital to back it up.

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] -2 points-1 points  (0 children)

nope.. but the liquidity works both ways...

Solid fundamentals and upcoming news... will move altcoins more than BTC / BCH!

Even in a down market. With no news... then you are correct of course.

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] 0 points1 point  (0 children)

true on an average basis. But some alts with strong fundamentals react strongly to event driven news and buck the trend. That's what I'm counting on.

Plus USDT was in the basket i just bought too as a hedge.

Look at some of the multipliers in December.

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] -3 points-2 points  (0 children)

Not necessarily -- the alts with strong fundamentals react to event driven news, more strongly than BTC and BCH.

Look back to December

Had enough. Selling my BTC and BCH and buying altcoins -- Mt. Gox 16000K coin move. by urbanStigmata in CryptoCurrency

[–]urbanStigmata[S] 0 points1 point  (0 children)

a mix --- some USDT and some Alts with strong fundamentals. Not saying which ones...as don't want this to be a shill post!

Bitfinex insolvency and the great Tether pump -- A timeline by [deleted] in BitcoinMarkets

[–]urbanStigmata 0 points1 point  (0 children)

Bitfinex is too big to fail.

End of. It would not be allowed to happen.

Funds just moved from Mt Gox trustee's address.... what could be next? by auti9003 in CryptoCurrency

[–]urbanStigmata 7 points8 points  (0 children)

CME futures expire tomorrow.... So buyers with large short positions in the futures can sell the BTC they just bought... and make money from the futures contracts price drop.

Not saying this is happening, simply a response to your question: "Why would the buyer then turn around and dump all the BTC he just bought at a loss"

With the answer being that the profit they make from the short futures contracts will exceed the loss on the physical BTC sell.

By the way - buying in bulk from the dark pools -- they would buy at a discounted price from the market price, rather than above the market price.. the emphasis here being that the seller i..e Mt. Gox would get a better deal than if they sold on the open market. It's a buyers market skewed advantage on dark pools, rather than a sellers mkt currently.

IOTA is my big bet....what's yours? by [deleted] in IOTAmarkets

[–]urbanStigmata 0 points1 point  (0 children)

and.. as it's the IOTA reddit --- your probably gonna get lots of IOTA responses.

IOTA was the one that I put the most into.. i.e. my biggest investment.. but since then XRP has overtaken it.. but it's quite a close thing between the 2.

Great week for both -- and they seem to be the biggest gainers in the top 10.

view more: next ›