The Litepresence Report on Cryptocurrency

i2a3rh1.png
 
Hi everyone!

I found out about bitcoin a year ago and found this forum soon after. since then it has been my greatest source of good information and knowledge about trading and bitcoin in general. so first thank u everyone! especially litepresence of course! i am amazed by your willingness to share all the knowledge about bitcoin trading.

i am starting to write an autotrading software and am searching for some historical data to do my backtesting on. for example i am searching for a 1min candle data for the whole year 2015 for LTCUSD on OKcoin.com. any suggestions on where to get historical data of this kind?
 
bitman said:
Hi everyone!

I found out about bitcoin a year ago and found this forum soon after. since then it has been my greatest source of good information and knowledge about trading and bitcoin in general. so first thank u everyone! especially litepresence of course! i am amazed by your willingness to share all the knowledge about bitcoin trading.

i am starting to write an autotrading software and am searching for some historical data to do my backtesting on. for example i am searching for a 1min candle data for the whole year 2015 for LTCUSD on OKcoin.com. any suggestions on where to get historical data of this kind?
Click to expand...

Hi bitman!

Welcome to ronpaulforums.com and the litepresence report :D

I trade via cloudbot at tradewave; they take care of the "backend" of bot development.

But if you want your own data search keyword:

"bitcoin csv"

or look here:

http://api.bitcoincharts.com/v1/csv/

[URL]http://bfxdata.com/datadownload/
[/URL]

if you find any other good sources please post them
 
[h=1]Coinbase Tests Bitcoin XT, Gets Removed From Bitcoin.org[/h]
Coinbase-logo.png

Written by: Justin OConnell
2015/12/29 4:00 PM







According to CEO Brian Armstrong, Coinbase is now running the new version of Bitcoin software, Bitcoin-XT, a move which has divided the Bitcoin community in the past few days. The company is merely experimenting with the software, it stresses; however, this has inspired much contentiousness on online Bitcoin forums, including being removed from Bitcoin.org.
Also read: Samsung Pay Bringing More Competition to Bitcoin by Enabling Online Shopping in 2016
Coinbase is now running BitcoinXT (BIP101) in production as an experiment, blog post w more details coming soon https://t.co/x2GHvQ6UOO
— Brian Armstrong (@brian_armstrong) December 27, 2015
​
His announcement — which is pending a blog post on Coinbase — has caused much debate among Bitcoin players. Many questions were asked of Armstrong on Twitter, Armstrong cleared some things up:
To be clear, we are still open to other proposals, just want encourage things to move forward and #HelpBitcoinScale
— Brian Armstrong (@brian_armstrong) December 27, 2015
​
People are much divided on what implementation of Bitcoin to use, and there has been much debate, including a Scaling Bitcoin conference, dedicated to the updating (or not) of the Bitcoin protocol due to its current limitations of 1MB per block size.
Many people believe Bitcoin should be some sort of global currency, and towards that end, the current implementation of Bitcoin does not process enough transactions per block — which take approximately ten minutes to create — to power a modern economy.
Coinbase, one of the largest Bitcoin companies on the planet, has chosen to run the new Bitcoin core, which uses BIP101, as an experiment. Many companies have pledged support inside the Bitcoin space as proponents of the XT implementation.
Founded in June 2012, Coinbase earned a May 2013 Series A of $5 million USD. In December 2013, the company received US $25 million investment led by venture capital firms Andreessen Horowitz, Union Square Ventures and Ribbit Capital. The company formed partnerships with Overstock, Dell, Expedia, Dish Network, Time Inc and Wikipedia before receiving $75 million investment including New York Stock Exchange.
Coinbase is a major influence in the Bitcoin sphere and this move could have reverberations through the Fintech space.
Upon making the announcement, Coinbase was removed from Bitcoin.org.
Wow…Coinbase removed from https://t.co/zj5LkmyP0Q for experimenting with how to scale bitcoin? https://t.co/orCF5dSNE6 disappointing
— Brian Armstrong (@brian_armstrong) December 27, 2015
​
The debates, which cropped up over the weekend, will likely cause the Bitcoin community to reach conclusions quicker about what future protocol of Bitcoin should be used, and now Coinbase is at the center of that debate.
Click to expand...
http://bitcoinist.net/coinbase-tests-bitcoin-xt-removed-bitcoin-org/
 
[h=1]Jeff Garzik and Gavin Andresen: Bitcoin is Being Hot-Wired for Settlement[/h]
by Bitcoin Magazine
3:04 PM
Dec 28, 2015- Aa +

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[h=1]The Latest[/h] Segregated Witness, Part 3: How a Soft Fork Might Establish a Block-Size Truce (or Not)
Jeff Garzik and Gavin Andresen: Bitcoin is Being Hot-Wired for Settlement
Segregated Witness: The Right Answer to the Wrong Question
Segregated Witness, Part 2: Why You Should Care About a Nitty-Gritty Technical Trick
Is Bitcoin Headed for a Break in Fungibility?
Enigma, MIT Media Lab’s Blockchain-based Encrypted Data Marketplace, to Launch Beta

Editor's Note: This piece was originally published on Medium by Co-Founder of Bloq Inc. & Bitcoin Core Developer Jeff Garzik and Chief Scientist of the Bitcoin Foundation & Bitcoin Core Developer Gavin Andresen.
 Disclaimer: The following is personal opinion and does not reflect an official position by Bloq, MIT or any other organization or group.
The proposed roadmap currently being discussed in the bitcoin community has some good points in that it does have a plan to accommodate more transactions, but it fails speak plainly to bitcoin users and acknowledge key downsides. The roadmap summary most relevant to bitcoin users is:
Bitcoin is shifting to a new economic policy, with possibly higher fees.
Core block size does not change; there has been zero compromise on that issue. In the face of rising transaction volume — it has doubled over the past year — getting stuck at 1M results in higher fees, notable economic changes, and suffers from increased political risk by embracing an accidentally-created economic policy tool.
Change By Design
Higher fees and reshaping the fee market impact all bitcoin users, yet it is only mentioned obliquely in paragraph 18 of the roadmap:
These proposals help […] prevent defection between the miners from undermining the fee market behavior that will eventually fund security.”​
and in the middle of paragraph 4 of another BIP by the same devs:
The development of a fee market and the evolution towards an ecosystem that is able to cope with block space competition should be considered healthy. […] However, the purpose of such a change should be evolution with technological growth, and not kicking the can down the road because of a fear of change in economics.”​
Notable devs think it necessary to change bitcoin to a different economic system with “healthy” competition for block space. In the field today, that is accomplished by maintaining the core block size in the face of rising transaction volume — an outcome the current dev consensus has produced, and the roadmap continues.
In an optimal, transparent, open source environment, a BIP would be produced, covering a change in bitcoin’s economics to a “healthy fee market.” This would be analyzed through the lenses of technical, economic, hard fork etc. risk. This has not happened.
There would also be a related BIP describing the basic requirements for a full node in terms of RAM, CPU processing, storage and network upload bandwidth, based on experiments — not simulations — done on a platform like planet-lab.org. This would help determine quantitatively how many nodes could propagate information rapidly enough to maintain Bitcoin’s decentralized global consensus at a given block size.

How Satoshi Avoided a “Visible Hand”Getting stuck at 1M core block size transforms a historic DoS limit into an accidental policy tool. Satoshi added the 1M consensus limit in 2010, intentionally set above the free market fee range. This artificial ceiling acts against network DoS, raising the cost of attack. Setting the limit above free market range resulted in a safety limit reasonably free from politics.
The update process was also described by Satoshi in 2010.
As average block size approaches the 1M limit, the game theory picture changes. The accidental, artificial 1M limit becomes a Visible Hand in the market. Competition occurs not only for block space, but for developer consensus — because in this new economic system, the ability to freeze or move the 1M limit produces a system where humans — not the free market directly — wield oversize power.
By accident or design, Satoshi managed to create a working free market and push this Visible Hand years into the future by setting the limit high, well above the free market range for transaction fees. The limit served for years as a DoS limit, exponentially increasing cost-of-attack, while a free market equilibrium range established itself.
This block size debate ultimately comes down to competing economic and system survival theories. One theory is that a free market range exists for block size, in absence of a hard limit. Another theory is that a hard limit is required to forcibly constrain the free market. Stalling on core block size changes the former to the latter — uncharted territory for bitcoin.
A System-wide Upgrade To Avoid A System-wide Upgrade
The resultant bitcoin user and market view is muddled: From 2010 through Scaling Bitcoin:Montreal, it appeared that the core block size would see an increase. Following Scaling Bitcoin:Hong Kong, the roadmap abruptly switches direction to Segregated Witness (SW).
SW avoids an ecosystem-wide hard fork through ecosystem-wide upgrades to bitcoin transactions, blocks, addresses, scripts, full nodes, miners, wallets, explorers, libraries, and APIs. All to provide partial relief to core block pressure assuming users upgrade — 1.6M if 100% upgrade, based on current usage.
SW roll-out requires extensive software modifications just to maintain current functionality in the face of rising transaction volume. SW complicates bitcoin economics by splitting a “block” into a basket of two economic resources — core block and extended block — each with unique price incentives and (heavily intersecting) sets of actors.
In contrast, increased core block size is compatible with existing bitcoin software; Some wallets will work seamlessly with no change at all. The total number and scope of changes to wallets, databases, libraries etc. is very minimal. The high hurdle is the hard fork itself.
One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase. Scaling Bitcoin was useful in surveying consensus on core block size. 2M appears to be the consensus most common denominator.
Skipping Hard Questions Until Too Late
The roadmap skips the short term issues of:

  • When are fees too high?
  • What is the process for changing core block size then?
  • Why do we need high fees at this early stage of bitcoin’s life?
Rather than an automated software system, a fixed core block size puts an economic policy tool in the hands of humans. Humans are making subjective decisions about “healthy” fee levels, what miner income should look like, and the relative expense of bitcoin transactions, rather than the free market.
Users have concerns that this roadmap and new economic direction dances obliquely around a shift of bitcoin from a network for P2P cash payments to a settlement system for as-yet-incomplete technology such as side chains or payment channels, pushing out businesses that bought into the original “P2P electronic cash” vision of bitcoin. As the RootStock white paper notes:
If Bitcoin block size is not increased via a hard-fork, when the next Bitcoin reward halves, Bitcoin transaction fees may become prohibitively high for certain applications.”
​
Maybe that’s inevitable. However, in the short term, we have a disappointing situation where a subset of dev consensus is disconnected from the oft-mentioned desire to increase block size on the part of users, businesses, exchanges and miners. This reshapes bitcoin in ways full of philosophical and economic conflicts of interest. As noted here, inaction changes bitcoin, sets it on a new path.
Way Forward
Bitcoin is not an academic science project. Stalling on hard questions produces tangible market changes. Few have the luxury to pause until a new payment layer is developed on top of bitcoin-1’s emerging settlement layer. Stuck-at-1M risks reversing bitcoin’s network effect by pricing users out of the core blockchain, forcing them onto centralized platforms.
A better way forward includes leadership on a definitive short term core block size decision, plain talk with users about exploring new fee market economic theories and system survival theories, and plain talk with users about the risks and possible negative consequences of getting stuck at 1M.
Core block size resolution and validation cost edge cases are the top priorities. A positive outcome of Scaling Bitcoin was a consensus of 2M, assuming some validation DoS fixes. Segregated Witness can proceed in parallel, sans the assumptions that it’s an easy change or that it mitigates economic issues described above.
And finally, to remove long term moral hazard, core block size limit should be made dynamic, put in the realm of software, outside of human hands.
Bitcoin deserves a roadmap that balances the needs of everybody who has worked hard over the last six years to grow the entire ecosystem.
—Jeff Garzik and Gavin Andresen
Click to expand...
https://bitcoinmagazine.com/articles/bitcoin-economics-are-changing-1451315063
 
We're very tight consolidation pinched in the impending 30/60 12h sma bear cross, its going to break up or down soon and big.

Marketplace Honey Badger is holding BTC.
 
Suzu said:
Please translate to phrasing that a person without specialized knowledge (of the sort needed here) can understand. Thank you.
Click to expand...

during a 12 hour simple moving average cross of period 30 and period 60 there tends to be a prolonged breakout either up or down. its an important cluster to watch; so be mindful of your holdings this next 48 hours.
 
What is the best crypto currency to get involved in and why?

I'm new to all of this, and want to make a small initial investment. Where do you suggest I start?

Thank you in advance for your insight.
 
honey badger pro has moved to fiat based on the impending 30/60 12h sma bear cross

Code: 
[2016-01-03 16:19:00] Emailing the strategy owner: "FIAT TIME"
[2016-01-03 16:19:00] 1451855940
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 424.56 USD)
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 424.593 USD)
[2016-01-03 16:21:26] Adjusting price for 2.00 BTC order to 424.39500000 because the market order did not fill fast enough.
[2016-01-03 16:21:47] Order filled for 2.00 BTC at 424.395, placed at 2016-01-03 21:21:26.803602.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 424.576 USD)
[2016-01-03 16:22:27] Adjusting price for 2.00 BTC order to 424.37700000 because the market order did not fill fast enough.
[2016-01-03 16:22:47] Adjusting price for 2.00 BTC order to 424.37600000 because the market order did not fill fast enough.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 424.40 USD)
[2016-01-03 16:23:08] Order filled for 2.00 BTC at 424.376, placed at 2016-01-03 21:22:47.935314.
[2016-01-03 16:23:27] Order filled for 2.00 BTC at 424.400, placed at 2016-01-03 21:23:07.173309.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 424.805 USD)
[2016-01-03 16:24:28] Order filled for 2.00 BTC at 424.805, placed at 2016-01-03 21:24:07.708764.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 425.242 USD)
[2016-01-03 16:25:28] Order filled for 2.00 BTC at 425.242, placed at 2016-01-03 21:25:08.266815.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 425.996 USD)
[2016-01-03 16:26:29] Order filled for 2.00 BTC at 425.996, placed at 2016-01-03 21:26:08.821257.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 426.474 USD)
[2016-01-03 16:27:29] Adjusting price for 2.00 BTC order to 426.40000000 because the market order did not fill fast enough.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 426.475 USD)
[2016-01-03 16:28:30] Order filled for 2.00 BTC at 426.475, placed at 2016-01-03 21:28:09.900887.
[2016-01-03 16:19:00]  SELL: 2.00 BTC (at 426.61 USD)
[2016-01-03 16:19:00]  SELL: 2.42225674 BTC (at 426.80 USD)
 
BillRow said:
What is the best crypto currency to get involved in and why?

I'm new to all of this, and want to make a small initial investment. Where do you suggest I start?

Thank you in advance for your insight.
Click to expand...


Without a doubt, if you are new to this, stick to bitcoin. It has a much larger market cap and moves much slower in comparison to other coins.

alt coin ratios spend MOST of their time LOSING... then if you get aboard at the right time you can go 4X 10X etc. but you will continually take losses trying to pin down that "right time" without solid botscript.
 
presence said:
during a 12 hour simple moving average cross of period 30 and period 60 there tends to be a prolonged breakout either up or down. its an important cluster to watch; so be mindful of your holdings this next 48 hours.
Click to expand...
Not even halfway to comprehensible for anyone without that specialized knowledge. :(
 
Suzu said:
Not even halfway to comprehensible for anyone without that specialized knowledge. :(
Click to expand...

If you look at the price at 12 hour intervals starting now, 12 hours ago, 24 hours ago, 36 hours, etc., for the last 30 days and average those values that is the current 12 hour 30 day moving average. You can chart that moving average over time. If today is day 0, and 30 days ago is day 30, then yesterday's value is the average from day 2-31. 2 days ago the moving average was the average of days 3-32, and so on.

If you do the same thing, but go back 60 days that is the 60 day moving average. If the 60 day moving average is the same as the 30 day moving average, then you have hit both the 30 day and 60 day mean and those who study technical analysis have found that breakouts + or - tend to occur during these times.
 
Last edited:
Gemini Co-Founder Sees Exciting Time Ahead As Institutional Investors Enter Bitcoin Market

“Every day we are onboarding more and more traditional financial institutions who are only willing and able to work with regulated bitcoin exchanges,” he said. “In short, the “institutionalization” of bitcoin trading is most definitely happening as we speak. It will be a very exciting next 12 months as these types of investors enter the market.”

Read more at http://www.econotimes.com/Gemini-Co-Founder-Sees-Exciting-Time-Ahead-As-Institutional-Investors-Enter-Bitcoin-Market-140137#KwxojhxwC1WOlAQD.99
 
djthistle01 said:
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.
Click to expand...


boom
boom
and rekt

crystal ball never lies :p


PS: i have been doing more research and I still think the late march build up is valid. however I see the later half of july as being pretty strong. next phases include winter 2017, a good chunk of 2018 with that peaking in later jan 2019.

https://www.tradingview.com/chart/B...m_medium=email&utm_campaign=notification_vote
 
Last edited:
BillRow said:
What is the best crypto currency to get involved in and why?

I'm new to all of this, and want to make a small initial investment. Where do you suggest I start?

Thank you in advance for your insight.
Click to expand...

BTC is king. But putting 10% of your market cap at 10 solid alts is a decent idea imho. Things like DASH, XMR, LTC, DOGE, START, etc etc always pump. Blue chip alts have been moving here and there. I think the mid tier coins are going to all move 5-10xmin in late spring to summer. the weekly charts on coins like MAX, CANN, SDC, etc all have the same set ups. i see test pumps for a bit as people accumulate them we get legit alt pumps later. my 2cents https://twitter.com/djthistle01 <--- i posted some charts recently so you can see some patterns.
 
this is still valid: https://www.tradingview.com/chart/BTCUSD/TWLltoWT-Bitcoin-BTC-Holiday-resistance/

here is the saturn study: https://www.tradingview.com/chart/BTCUSD/NxKsK0sJ-Bitcoin-BTC-Bitcoin-vs-Saturn/

we seem to have strong moves coming out of retrograde, current cycle ends on the 25th: https://www.tradingview.com/chart/BTCUSD/y3qA8k3t-Bitcoin-The-Moon-and-Mercury-Retrograde/

oil interests me right now. sitting on a huge support. bought with a tight SL today because $32 is mental. if it breaks then 26 it is.

https://twitter.com/djthistle01
https://www.tradingview.com/u/djthistle01/
http://www.coinstreetnews.com/
 
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