Tuesday, August 27, 2019

[uncensored-r/BitcoinMarkets] [Daily Discussion] Wednesday, August 28, 2019

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Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Daily Discussion] Wednesday, August 28, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Wednesday, August 28, 2019

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


Nano's Inflation

OK I know Nano doesn't have mining and does not mint new coins so it technically has 0% inflation but hear me out (and see why I mention it).

Currently miners get 1800 Bitcoin per day and majority of that is flooding the market, which is why people believe halving causes sell-side supply squeeze since all of a sudden much less Bitcoin is available for sale. Considering the circulation of 18 million bitcoins every month there is an inflation of .3% if we assume all miner Bitcoins are sold on the spot, and .2% for a more reasonable estimation of 66% of them being sold immediately.

Why am I talking about this while we fully know that Nano does not operate like that? The supply is fixed and everything circulating is already available, right? Well not exactly. Think about developers' fund. Developers have to eat, have to pay for the office, have to pay for the bills, so it is inevitable that they have to sell Nano from the fund every month to survive, meaning every month there would be some Nano getting into the active market as a sell side supply, very similar to how miner minted coins in Bitcoin. We are on average seeing 125,000 Nanos sold in a period of a month for these purposes, so we are roughly seeing .1% of inflation per month. Not as much as Bitcoins but still a decent ratio.

What I am curious is that what would happen when this behavior changes. I am not here to discuss or predict prices, instead I am curious about the market movements since somehow demand/supply needs to balance. The way I see it things might change in two major events:

- Nano price changes in some direction significantly but developer bills are pegged to USD meaning they would end up selling significantly more/less coins, therefore causing a further flood or supply dry

- Developers eventually deplete the funds (probably within the next 2-3 years at this pace), making this type of inflation forever gone

I am not an economist myself, and I do not know as much about network effects as I would like to, but am curious what you think about above conditions changing the behavior of current Nano adopters.


Beyond USD: The Next Frontier for Stablecoins

https://i.redd.it/hj213pg9i3j31.png

George Harrap is CEO and co-founder of Hong Kong based Bitspark, a bankless money transfer ecosystem focused on Asia and Africa.

This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To keep the conversation going in person, register for Invest: Asia 2019 coming up in Singapore on Sept. 11–12.

Stablecoins are prevalent at all levels of crypto transactions these days, from the largest spot markets on exchanges like Binance to the trading pair of choice by many Hong Kong and mainland China OTC desks. The reason for the demand is simple: stablecoins provide a bridge between the fiat and crypto worlds.

However, not all stablecoins are the same. From currency peg to counterparty risk, there are two competing models duking it out at the moment: trusted and trustless stablecoins, with each referring to different levels of counterparty collateral risk.

We prefer trustless stablecoins as that model eliminates the counterparty risk of needing to trust a company, auditor, bank and humans in general.

The top 5 stablecoins in the market are all pegged to the US dollar and while USD is a reserve currency, that market is quite saturated already. In contrast, the opportunity in the other 180 fiat national currencies used by the majority of the world has barely been realised. That’s where the next frontier for stablecoins is.

In operating Bitspark in many emerging markets we have heard first hand from individuals, NGOs and companies how bank collapses are somewhat common and trust in government and banking is rock bottom. Access to digital cash that’s publicly visible and under the ownership of the individual would eliminate these problems and this is what Bitspark has been pioneering with PHP, IDR, VND pegged stablecoins for our remote money exchange agents.

Unique trading opportunities

There are interesting trading opportunities here too. Exotic currencies around the world almost always depreciate against the US dollar with recent examples found in Venezuela, Argentina, Turkey, Zimbabwe and Iran.

A good trade here would be to short those currencies via placing a dollar stablecoin as collateral to back the issuance of these currencies and then selling them for dollars. Bitcoin traders, merchants, and individuals need to use these currencies everyday anyway, so there is a market of buyers to which issuers can sell to.

Over time as the issued currency depreciates, the collateral value backing it becomes more valuable relative to the issued currency, enabling the issuer to withdraw or exchange excess collateral. Having already sold their issued coins on Day 1, they have effectively shorted the exotic currency without having to deal with any questionable local custodian — that’s almost impossible to do within traditional financial services

At Bitspark, we are creating trustless stablecoins for every currency in the world having recently launched an exciting product with Stable.PHP, a stablecoin pegged to the Philippine Peso backed by BitUSD (the first and oldest stablecoin in existence) using the Bitshares protocol.

I will be discussing more about some of the trading opportunities in taking short positions on Stable.PHP at this year’s Invest.Asia conference in Singapore. For example, when your collateral is BitUSD and you are issuing an exotic currency like Stable.PHP, you can take a leveraged position long or short.

Our set of exotic stablecoins will only be expanding through the year enabling more people to access a digital financial system in their local currency.

Abacus image via Shutterstock


ILPT Popular Csgo Gambling Site Exploit

In this guide, I will show you a new EXPLOIT on a popular

CS:GO gambling website - CSGOFAST.

LINK TO THE SITE?: ?

https://csgofast.com/

With this exploit, you will be able to refill your CSGOFAST

balance - completely for free, and then withdraw your money

or skins.

-----------------------------------------------------------------

  1. How it works?

I managed to find a vulnerability on their site, which basically

allows you to get a refund for your Bitcoin deposit on the site.

After you open a Bitcoin transaction page, you will have to

use a script that will change the timezone of your invoice.

When the timezone is changed, your current invoice will

expire, but at the same time a new invoice will be generated

(which will result in a change of your Bitcoin address). If you

send a payment to the new Bitcoin address, your CSGOFAST

account will be credited, but your Bitcoins will get refunded to

your wallet, because their payment provider (GameMoney)

thinks that your invoice has expired.

Simple as that.

-------------------------------------------------------------------------

. How do I use it?

First of all - you need to login to your CSGOFAST account. If

you don’t have one, you can create it by logging in through

Steam / VK / Google / Twitter / Facebook / Yandex.

Then, simply click on a “Refill” button.

--------------------------------------------------------------------------------

Now choose “GameMoney” and click “Refill”. The minimum

deposit is 0.01 BTC which is like $100 at the moment.

Once you click “Refill”, you will be redirected to GameMoney’s

payment page where you have to navigate to “BTC” option.

Then click on a “Bitcoin” logo to open your Invoice.

----------------------------------------------------------------------------------

Fill the “Amount receivable” - which is the amount of money

you want to deposit to your CSGOFAST account. As you can

see, the minimum amount is 0.01 BTC, so you can’t deposit less

than $100.

Now you will see the address where they want you to send the

money to - but don’t do that yet.

Now you will have to use a script that will change your

browser’s timezone. Your “Wallet address” will change to the

new one - this is the address where you need to send your

money to.

To use the script, simply right click (with your mouse)

anywhere on the invoice page and click Inspect and go to the

“Console”.

If you can’t see the “Inspect” or “Console” option, make sure

that you are using Google Chrome as I do.

------------------------------------------------------------

Now copy and paste the script into “Console” and click Enter.

You can copy the script from one of these links:

https://pastebin.com/UkjjXDed

------------------------------------------------------------

If you did everything correctly, you should see a new popup

window informing you that your current invoice has expired,

and a new address was generated.

Now simply copy the “Amount to be sent” and send Bitcoins to

the new address.

Once you do that, wait for your transaction to have 3

confirmations.

Now DON’T close the invoice page and wait for confirmations.

------------------------------------------------------------

Once the bitcoin sent to the new generated address reaches 3 confirmations on blockchain you will get a screen saying

you sent money to an expired invoice and your payment will be refunded.

CSGOFAST has processed your order even when it was

cancelled on GameMoney. You can now withdraw your funds

from the site either to Bitcoin / QIWI / Yandex.Money /

Webmoney / Card or simply withdraw CS:GO Skins.

Now when you finish this you will have the moeny being refunded to your bitcoin address and there will be 100 dollars

in csgo fast which you can withdraw to your bitcoin wallet which means you just doubled your bitcoin!

-------------------------------------------------------------------------------------------------------------

This method is repeatable - however, you can only make one

deposit per hour.

Enjoy your earnings!



Russell Okung (Bitcoin, 76 LA Chargers, two-time All American) is hosting a joint event Sept 1st for a football & Bitcoin. How can we get more of this??

https://www.pscp.tv/w/cDVbMjF4a2pETWR2WWtWRXp8MVlxR29kTmVZQk1Kdgj9tlNy6y77wE-xg-sclj-BE0JPx9YFSevsDjWR-g4B