The Litepresence Report on Cryptocurrency

[amonasro]

Honey Badger Pro is latched on Green Dragon
Projected sell at $544; rising @ about 55 cents an hour.

omg

I almost forgot what a bull market feels like. That 10 month accumulation.

 

[presence]

The problem here - and this is something that quite a few people are still struggling to understand - is that Beijing has telegraphed a much larger devaluation, which means the pressure on the yuan will likely continue.
So yes, as difficult as this is to come to terms with, this is a scenario where China played the deval card and is looking to ever-so-gradually move from a 3% deval to an export-boosting double-digit deval, but in the meantime, Beijing must manage the pace, which means supporting the yuan via direct interventions. But the last week it appears that The IMF's decision to include the Yuan in the SDR basket has green lit another round of devaluation...

* * *
And the result is obvious, virtual currencies are surging once again as the Chinese find another route to get their savings out of the country...

It appears the moves are becoming increasingly aggressive among those wishing to get their capital out, as we detailed here, it is starting to directly correlate with Yuan movements...

http://www.zerohedge.com/news/2015-...hina-announces-crackdown-unionpay-pos-devices

 

[FSP-Rebel]

Morning breakout potential

 

[FSP-Rebel]

 

[djthistle01]

That PBOC call was ballin'....but i got rinsed out on that dump. what a pisser that was. all in the span of going to work. faaaack.

re LTC: yes i expect serious pampage. not calling a date though. i see a price fractal that should end at around 0.0-19-0.022 when complete.it is a combination of fractal patterns and ickimoku analysis

re Altcoins: seems people are getting ready for alt season, thus btc will be cooling off because the money cycle demands it has to do so for alts to pump.

BTC sentiment is high, but what if 500 was top, and sometime now-ish the bounce, then we wave so alts can pump. consider it at least.

 

[presence]

We didn't flinch on the flash dump on the 11th; held through.

Oversold now at 582.09 rising 41 cents an hour.

12h sma 2>30>60>90>150; all rising; Green Dragon

HODL BTC


regarding LTCBTC, the 15m MACD will come into alignment with BTCUSD when its time to enter.

Using browser window opacity, they're still out of sync:

LTCBTC MACD is up when BTCUSD is down; right now ltcbtc signal is just cancelling btcusd gains. To enter I want to see that 15m MACD in lockstep for 2-3 hours to know we trend up again.

 

[presence]

 

[presence]

 

[djthistle01]

is this LTC play short term? Because BTC sells over powering buys(order to order, not candle vs candle volume) and the LTC 1D MACD is still under zero on the histogram. of course it can pump, but a legit bull run seems to need a better technical base imo. maybe btc can make it till the 23rd. but i think it gets rekt on christmas day. i am looking at march 23 as the start of the next bull phase fwiw.

 

[presence]

 

[djthistle01]

if the denominator (usd) is rising and dragging down the numerator (other fx pair) wouldn't stand to reason that will take btc down? with CNY devaluing the other argument is what i have been saying, but the last round of easing is over and in this case we are post US market info (not china) so it wouldn't stand to reason that the US would be pushing things around a bit more than CNY?

 

[presence]

USDCNY just opened at 6.4975; that's over the previous day high.

 

[presence]

so it wouldn't stand to reason that the US would be pushing things around a bit more than CNY?

What's happening here is rapid devaluation of a global basket of currencies vs the USD. All of them are tanking.

RUB EUR CAD CNY JPY are all about to take a royal shit.

last respective

[70, 1.08, 1.35, 6.49, 122]

I'd venture in 6 months we're looking at:

[110, 1.35, 1.65, 7.50, 160]

PBOC currency controls make BTC an easier intermediary to get CNY out of China and into USD right now. So BTC is getting bloated as a buffer.

 

[FSP-Rebel]

BTC chilling out before breaking out thru this bullish fork?

 

[amonasro]

Rally looking to have stalled a bit; futures couldn't break resistance after settlement last night. Quarterlies made a minor new high but were knocked right back down. Seems the spot markets did not want to follow them up. P&F charts neutral to bearish (edit: looking much more bullish Saturday night). I am covering some of my longs as a precaution to lock in profit and raising my stop on the others. Have a great holiday guys!

 

[kfarnan]

Rally looking to have stalled a bit; futures couldn't break resistance after settlement last night. Quarterlies made a minor new high but were knocked right back down. Seems the spot markets did not want to follow them up. P&F charts neutral to bearish (edit: looking much more bullish Saturday night). I am covering some of my longs as a precaution to lock in profit and raising my stop on the others. Have a great holiday guys!

What trade platform do you use?

 

[presence]

We did a late night quickie on the 20th, by the time I noticed it... I realize it was better not to share as we were on our way back in

+3% BTC

 

[FSP-Rebel]

It's a professional HFT exchange for digital assets targeting the really large customers like Hedge funds and governments. It's almost ready for launch, and they want to make some buzz. You can support it and get your name on their dedicated backers thank you page while receiving free trade fees. It's not because they need the money, but because they want to spread the word.

https://www.startjoin.com/DAXP

http://www.blockex.com/about/

TECHNOLOGY
The core of the BlockEx Platform is a Pooled Liquidity Exchange with a lightning-quick High-Frequency matching engine, designed for trading Digital Securities; the new breed of asset class born out of Crypto Currencies . Built to meet the needs of traditional banking institutions, governments, retail trading firms and retail traders; engineered and secured by leading banking security experts.

Thoughts? This might be the big one.

 

[FSP-Rebel]

Capacity increases for the Bitcoin system

So...it seems there is some consensus on the blockchain upgrade.

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011865.html

Our recent and current progress has well positioned the Bitcoin ecosystem
to handle its current capacity needs. I think the above sets out some
clear achievable milestones to continue to advance the art in Bitcoin
capacity while putting us in a good position for further improvement and
evolution.

TL;DR: I propose we work immediately towards the segwit 4MB block
soft-fork which increases capacity and scalability, and recent speedups
and incoming relay improvements make segwit a reasonable risk. BIP9
and segwit will also make further improvements easier and faster to
deploy. We’ll continue to set the stage for non-bandwidth-increase-based
scaling, while building additional tools that would make bandwidth
increases safer long term. Further work will prepare Bitcoin for further
increases, which will become possible when justified, while also providing
the groundwork to make them justifiable.

*Very soon libsecp256k1 will be used for verification, which speeds up initial sync time by 400%-700% and reduces CPU load for all full nodes.
*A segregated witness softfork will be done ASAP (within 3-6 months, probably). This will at least double the effective transaction capacity (ie. it is equal to or better than BIP 102), and at the same time it will provide features important for safely scaling even more in the future.
*There will not be any hardfork for at least the next ~year.
*To pave the way for scalable hardfork max block size increases (which will eventually be necessary), and because it is already dearly needed, improved block/tx broadcasting technology such as weak blocks and IBLT will be implemented, hopefully soon after SegWit.
*The BIPs necessary for efficient deployment of Lightning are already in the pipeline and should be rolled out in 2016. Lightning will allow for almost all of the security, features, and decentralization of Bitcoin transactions while drastically reducing the number of on-blockchain transactions that each individual will need to perform. This is expected to be the real eventual solution to scaling.

 

[presence]

2016 could be a banner year for bitcoinCBS News‎ - 8 hours ago

Record highs predicted for bitcoin in 2016 as new supply halvesReuters‎ - 1 day ago