GitHub - xunxdd/bitcoin-news-charts: A collection of ...
Bitcoin - The Internet of Money
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
This is a subreddit for discussion of forking Bitcoin to allow a free-market and consent-based approach to Bitcoin's / Bitcoin Cash's progress. In Bitcoin Cash we brought together like minded people - users, developers, miners - to carry on the experiment that is Bitcoin. We stand ready to fork again should it become necessary to protect Bitcoin to ensure the option of peer-to-peer electronic cash can survive and thrive.
Introducing ClassicBitcoin(CBTC)'s BitClassic Marketplace. ClassicBitcoin(CBTC) powers the Next Generation Online Marketplace using AI Solutions and Blockchain Technology to provide High Quality services to Designers, Retailers, Manufacturers and Consumers.
CryptoMiso ranks blockchain projects according to their developer activity. Herein, “activity” is defined as the number of code contributions to the popular repository platform GitHub. The more the developers, the higher the confidence in the project, a fundamental factor that directly affects the value of a digital asset. More participants also mean more features. Based on this, Lisk, aelf, and Chainlink, respectively, are the most valuable as developers were unfazed by the effects of the coronavirus pandemic. For the uninitiated, Lisk is an open-source project seeking to drive blockchain accessibility and interoperability. Lisk developers are provided with a software development kit (SDK) for distributed ledger technology (DLT) applications. https://preview.redd.it/bxob7aryp2551.png?width=453&format=png&auto=webp&s=80643ef07cf1849ea1f9a7aeac9bf385c0ca04fb
aelf Community Continues to Deliver
Closely following Lisk in terms of developer activity on GitHub is the decentralized self-evolving cloud computing blockchain network aelf. ![img](jv7vzox0q2551 " ") Launched in August 2017, aelf is committed toward providing a high-performance platform for commercial adoption of DLT. The coronavirus pandemic seems to have minimal impact on the aelf ecosystem as it hit its yearly ATH during the lockdown with an impressive 212 commits at the start of March. https://preview.redd.it/nlhn87e2q2551.png?width=768&format=png&auto=webp&s=26ce79a464b84a36d5d60ad737eb6927206124e2 Interestingly, it only took aelf two days to submit the same number of commits (284) as Ripple had the whole year.
A Win for Chainlink?
It will be food for thought for traders and investors most of whom are glued to price charts, making decisions solely based on price action. From this “new” ranking, it will be a double win for Chainlink, an oracle network. Perched at third in the CryptoMiso leader-board, it could mean its native token LINK may be undervalued. https://preview.redd.it/xwf6ljn5q2551.png?width=475&format=png&auto=webp&s=8fd9bf7f2e4858eeb6666ffd2ec59f7c2961c775 The Chainlink network offers reliable tamper-proof inputs and outputs for complex smart contracts across all blockchain networks. The project’s decentralized oracle network provides a robust security guarantee. The protocol’s structure allows multiple Chainlinks to evaluate the same data before it becomes a trigger. This way, it eliminates any one point of failure and keeps the overall value of a smart contract that is highly secure, transparent, and reliable.
Bitcoin, TRON, Ethereum Slide Down the Ranks
While Lisk, aelf, and Chainlink shined on GitHub, other heavyweights in the cryptocurrency ecosystem tumbled. Bitcoin, the premier cryptocurrency although has well over 100 contributors, failed to provide more than 80 commits on any given day. In the same vein, the top altcoin, Ethereum, tumbled down to 41st position despite their highly-anticipated ETH 2.0. upgrade poised to be released soon. Other smart contract projects, such as TRON and EOS displayed similar unimpressive results. Over the past six months, EOS has slid from 11th position down to 19th. TRON, similarly dropped from 18th position to 20th when comparing their 12 months and 6-month activity levels.
[HALVING MEGATHREAD] Block 630000 has been mined. Mining subsidy is now 6.25 BTC per block. The third Bitcoin Halving is now complete!
As of now, 630,000 blocks have been mined on the Bitcoin network, and the block reward has successfully halved for the secondTHIRD time. The previous block reward was 12.5 BTC, and the new block reward is now 6.25 BTC. Since the previous halving at Block 420000, monetary inflation decreased from 4.17%% to 3.57%. Block 630000 signals an immediate 50% reduction to 1.79%. The next halving will occur at Block 840000 in approximately four years. Godspeed, Bitcoin! Here's Block 630000 in all its glory!
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
vectorbt - blazingly fast backtesting and interactive data analysis for quants
I want to share with you a tool that I was continuously developing during the last couple of months. https://github.com/polakowo/vectorbt As a data scientist, when I first started flirting with quant trading, I quickly realized that there is a shortage of Python packages that can actually enable me to iterate over a long list of possible strategies and hyper-parameters quickly. Most open-source backtesting libraries are very evolved in terms of functionality, but simply lack speed. Questions like "Which strategy is better: X or Y?" require fast computation and transformation of data. This not only prolongs your lifecycle of designing strategies, but is dangerous after all: limited number of tests is similar to a tunnel vision - it prevents you from seeing the bigger picture and makes you dive into the market blindly. After trying tweaking pandas, multiprocessing, and even evaluating my strategies on a cluster with Spark, I finally found myself using Numba - a Python library that can compile slow Python code to be run at native machine code speed. And since there were no packages in the Python ecosystem that could even closely match the speed of my own backtests, I made vectorbt. vectorbt combines pandas, NumPy and Numba sauce to obtain orders-of-magnitude speedup over other libraries. It builds upon the idea that each instance of a trading strategy can be represented in a vectorized form, so multiple strategy instances can be packed into a single multi-dimensional array. In this form, they can processed in a highly efficient manner and compared easily. It also integrates Plotly and ipywidgets to display complex charts and dashboards akin to Tableau right in the Jupyter notebook. You can find basic examples and explanations in the documentation. Below is an example of doing in total 67,032 tests on three different timeframes of Bitcoin price history to explore how performance of a MACD strategy depends upon various combinations of fast, slow and signal windows:
import vectorbt as vbt import numpy as np import yfinance as yf from itertools import combinations, product # Fetch daily price of Bitcoin price = yf.Ticker("BTC-USD").history(period="max")['Close'] price = price.vbt.split_into_ranges(n=3) # Define hyper-parameter space # 49 fast x 49 slow x 19 signal fast_windows, slow_windows, signal_windows = vbt.indicators.create_param_combs( (product, (combinations, np.arange(2, 51, 1), 2), np.arange(2, 21, 1))) # Run MACD indicator macd_ind = vbt.MACD.from_params( price, fast_window=fast_windows, slow_window=slow_windows, signal_window=signal_windows, hide_params=['macd_ewm', 'signal_ewm'] ) # Long when MACD is above zero AND signal entries = macd_ind.macd_above(0) & macd_ind.macd_above(macd_ind.signal) # Short when MACD is below zero OR signal exits = macd_ind.macd_below(0) | macd_ind.macd_below(macd_ind.signal) # Build portfolio portfolio = vbt.Portfolio.from_signals( price.vbt.tile(len(fast_windows)), entries, exits, fees=0.001, freq='1D') # Draw all window combinations as a 3D volume fig = portfolio.total_return.vbt.volume( x_level='macd_fast_window', y_level='macd_slow_window', z_level='macd_signal_window', slider_level='range_start', template='plotly_dark', trace_kwargs=dict( colorscale='Viridis', colorbar=dict( title='Total return', tickformat='%' ) ) ) fig.show()
Analyze and engineer features for any time series data
Supercharge pandas and your favorite tools to run much faster
Test thousands of strategies, configurations, assets, and time ranges in one go
Test machine learning models
Build interactive charts/dashboards without leaving Jupyter
The current implementation has limitations though:
It's still experimental and fast evolving, thus API can change quickly.
Fast processing means more memory requirements. Above example created multiple DataFrames each taking 46MB of RAM (price, signals, cash, shares, equity, returns, etc). The issue can be mitigated by deleting at least some artifacts as soon as they are created and by disabling caching.
Usage requires intermediate knowledge of pandas and NumPy to understand what's going on. Numba can be learned faster because of it mimicking NumPy. I tried to make lots of small examples in the documentation to get the idea how everything is glued together.
The approach of merging vectorized and iterative code differs significantly from classic OOP approach of designing strategies, and will require you to rethink how strategies are formulated and implemented (which is kinda fun).
Finally, if you're looking for a pure backtesting solution - it's not. It's more of a data mining tool to get to know your market and approach better.
If it sounds cool enough, try it out! I would love if you'd give me some feedback and contribute to it at some point, as the codebase has grown very fast. Cheers.
Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
I applied price discovery algorithms to 5 Min OHLCV data from Bitmex and CME contracts and Bitstamp, Coinbase, HitBTC, Kraken, Poloniex, Binance, and OkEx BTCUSD/BTCUSDT markets from March 2016 to May 2020. Some exciting results I got was:
Before the 2017/18 bull run, Bitfinex dominated the price discovery process. They started the run. But as the price increased, trades on other exchanges, Binance and Bitstamp played a more dominant role in leading the price up.
Since then, CME Contracts and Bitmex contracts have had an increasing role in price discovery. Today Bitmex and CME Contracts play the most substantial role in determining the direction of Bitcoin price.
In 2020, market dominance by Bitmex has been negatively correlated with price. Dominance by Bitfinex, Huobi and OkCoin has had high positive correlation with price.
Price discovery is the overall process of setting the price of an asset. Price discovery algorithms identify the leader exchanges whose traders define the price. Two approaches are most famous for use in Price Discovery. Gonzalo and Granger (1995) and Hasbrouck (1995). But they assume random walk, and a common efficient price. I do not feel comfortable assuming random walk and common efficient price in Bitcoin Markets. So I used this little know method by De Blasis (2019) for this analysis. This work assumes that "the fastest price to reflect new information releases a price signal to the other slower price series." I thought this was valid in our market. It uses Markov Chains to measure Price Discovery. Without going into the mathematical details the summary steps used was:
Data is first grouped into a daily interval. Then inside each daily interval's 5-minute candles, the change in prices between the current time t and previous time t-1 is calculated. The difference across the same time t across all exchanges in a given day is juxtaposed to create an initial matrix.
The initial matrix is used to create a Transition Matrix, which measures the probability of price changing to something else at time t+1 for its state at t.
Then other Markov Chain based algorithms are used to measure the influence an exchange at time t had over all other exchanges' price movement at time t+1 individually.
Reduction and normalization is done to this data. In the end, each exchange receives a single number that sums to 1 for a given day.
De Blasis (2019) names this number Price Leadership Share (PLS). High PLS indicates a large role in price discovery. As the sum of the numbers is 1, they can be looked at as a percentage contribution. I recommend reading the original paper if you are interested to know more about the mathematical detail.
Andersen (2000) argues that 5 Minute window provides the best trade-off between getting enough data and avoiding noise. In one of the first work on Bitcoin's Price Discovery, Brandvold et al. 2015 had used 5M window. So I obtained 5M OHLCV data using the following sources:
Poloniex, Bitfinex, Binance and HitBTC: Exchange's API through CCXT.
CME: Okay, this was was supposed to be tricky and expensive. I broke a TOS and scraped the data for free, removing the expensive part from the equation. I will not go into detail about where I scraped this data.
Futures data are different from other data because multiple futures contract trades at the same time. I formed a single data from the multiple time series by selecting the nearest contract until it was three days from expiration. I used the next contract when the contract was three days from expiration. This approach was advocated by Booth et al ( 1999 )
I can't embed the chart on reddit so open this https://warproxxx.github.io/static/price_discovery.html In the figure above, each colored line shows the total influence the exchange had towards the discovery of Bitcoin Price on that day. Its axis is on the left. The black line shows a moving average of the bitcoin price at the close in Bitfinex for comparison. The chart was created by plotting the EMA of price and dominance with a smoothing factor of 0.1. This was done to eliminate the noise. Let's start looking from the beginning. We start with a slight Bitfinex dominance at the start. When the price starts going up, Bitfinex's influence does too. This was the time large Tether printing was attributed to the rise of price by many individuals. But Bitfinex's influence wanes down as the price starts rising (remember that the chart is an exponential moving average. Its a lagging indicator). Afterward, exchanges like Binance and Bitstamp increase their role, and there isn't any single leader in the run. So although Bitfinex may have been responsible for the initial pump trades on other exchanges were responsible for the later rally. CME contracts were added to our analysis in February 2018. Initially, they don't have much influence. On a similar work Alexandar and Heck (2019) noted that initially CBOE contracts had more influence. CBOE later delisted Bitcoin futures so I couldn't get that data. Overall, Bitmex and CME contracts have been averaging around 50% of the role in price discovery. To make the dominance clear, look at this chart where I add Bitmex Futures and Perp contract's dominance figure to create a single dominance index. There bitmex leads 936 of the total 1334 days (Bitfinex leads 298 days and coinbase and binance get 64 and 6 days). That is a lot. One possible reason for this might be Bitmex's low trading fee. Bitmex has a very generous -0.025% maker fee and price discovery tend to occur primarily in the market with smaller trading costs (Booth et al, 1999). It may also be because our market is mature. In mature markets, futures lead the price discovery.
Table 1: Days Lead
Out of 1334 days in the analysis, Bitmex futures leads the discovery in 571 days or nearly 43% of the duration. Bitfinex leads for 501 days. Bitfinex's high number is due to its extreme dominance in the early days.
Table 2: Correlation between the close price and Exchange's dominance index
Binance, Huobi, CME, and OkCoin had the most significant correlation with the close price. Bitmex, Coinbase, Bitfinex, and Bitstamp's dominance were negatively correlated. This was very interesting. To know more, I captured a yearwise correlation.
Table 3: Yearwise Correlation between the close price and Exchange's dominance index Price movement is pretty complicated. If one factor, like a dominant exchange, could explain it, everyone would be making money trading. With this disclaimer out of the way, let us try to make some conclusions. This year Bitfinex, Huobi, and OkEx, Tether based exchanges, discovery power have shown a high correlation with the close price. This means that when the traders there become successful, price rises. When the traders there are failing, Bitmex traders dominate and then the price is falling. I found this interesting as I have been seeing the OkEx whale who has been preceding price rises in this sub. I leave the interpretation of other past years to the reader.
My analysis does not include market data for other derivative exchanges like Huobi, OkEx, Binance, and Deribit. So, all future market's influence may be going to Bitmex. I did not add their data because they started having an impact recently. A more fair assessment may be to conclude this as the new power of derivative markets instead of attributing it as the power of Bitmex. But Bitmex has dominated futures volume most of the time (until recently). And they brought the concept of perpetual swaps.
There is a lot in this data. If you are making a trading algo think there is some edge here. Someday I will backtest some trading logic based on this data. Then I will have more info and might write more. But, this analysis was enough for to shift my focus from a Bitfinex based trading algorithm to a Bitmex based one. It has been giving me good results. If you have any good ideas that you want me to write about or discuss further please comment. If there is enough interest in this measurement, I can setup a live interface that provides the live value.
We’re giving away an Apple Watch 5 as a thank you to the cryptocurrency community for supporting Crypto Pro.
The winner has been chosen: https://www.reddit.com/Bitcoin/comments/e465tg/and_the_winner_of_the_apple_watch_5_is/ EDIT: When the timer is done, we will run the linked script to select the winner. The script takes the Reddit IDs of all comments in this thread and sha256 hashes each one. It then finds the closest comment hash to the hash of latest Bitcoin block at the time (4PM PDT 30/11/2019). We will pick the first eligible comment from the list of results. (Our comments are ineligible) This way the results are completely random and yet still verifiable by everyone. You can run the script yourself and reproduce the results. (we will paste in the script output) https://gist.github.com/CryptoProApp/d2fa04fab93bbdc8602693f488ece354 In the holiday spirit, and as a thank you to the cryptocurrency community, we, at Crypto Pro are giving away brand new Apple Watch 5 to one lucky bag holders. Crypto Pro launched back in 2015 when Bitcoin was priced at $200 a pop, and Dogecoin ranked 7th. We wanted to create a small Apple Watch widget so that everyone can see Bitcoin’s price at the flick of a wrist. The app has gone a long way since then, and we have the reddit and cryptocurrency community to thank, for giving us both encouragements and constructive feedback to shape what the app is today. So thank you:)
Enter by simply commenting on this post. 1 comment = 1 entry
Only accounts created before the post is published (to avoid new account spamming).
Submissions will last for 24 hours, then the winner will be picked via a random comment selector. The Winner will have 48 hours to respond before picking another winner.
We will airdrop/ship the Apple Watch to any country, so long as it is possible to do so. Winner can select the size & color of band (standard).
What is Crypto Pro?
Crypto price / news / portfolio app designed for iOS. Users can see stats like portfolio gains, losses, and other cool analytics. As well as set price alerts, read news, connect to your exchanges and wallets. Here's a link to check us out!
How are we different?
We are the only major cryptocurrency app that keeps all the user data on device and doesn't track or analyze it in any way. We believe that privacy is important, and that no one should have access to your portfolio size, market viewing habits, or API keys. Everything is encrypted and stored locally on your phone. When you delete the app, all your data is deleted… the way it should be. (but we have an option to backup to your own iCloud or Dropbox account if you want to). We also think the design is pretty cool tbh. We got some nice sparklines going, cool charts, real-time pricing, and a bunch of other cool features. Here’s a few pictures I put together with a sample portfolio > https://imgur.com/a/acj0l67
What should I comment?
Feedback on the app is always appreciated :) or comment the year you first learnt about Bitcoin, or your price prediction for December 2020, or some just some random gibberish ಠᴗಠ. Happy [belated] Turkey Day! - Crypto Pro Team P.S. Buy the fucking dip. P.P.S. ^ not financial advice. P.P.S. Upvote if you'd like us to throw more giveaways in the future! The winner has been chosen: https://www.reddit.com/Bitcoin/comments/e465tg/and_the_winner_of_the_apple_watch_5_is/
06-27 22:34 - 'Crowd sourced Crypto Dashboard!' (self.Bitcoin) by /u/8baller030 removed from /r/Bitcoin within 185-195min
''' Hello all, Im a data science student working on one of my final projects. I am building a data visualisation dashboard for the top 100 coins. The dashboard is effectively a dashboard to help traders make decisions, and it will contain 3 pages to help analyse markets in real time. The first page is a break down of your portfolio; First Page [link]2 I am hoping to provide 2 more views, Market View This will be a break of the a live market with the users trades plotted against the appropriate market, it will show order books etc. Industry View This screen is where Im hoping to pull together some crowd sourced magic. I am looking to effectively provide a load of comparisons and charts to help describe the cryptocurrencies available. However, there is not really a source of data for this, now I have put together the basics for this; [[link]3 I was hoping that if anyone is a bit bored, and wants to have a quick look through, I would imagine that people know a lot of this off the top of their heads. I will be providing a hosted link of the dashboard once I have submitted the project, and of course the code will be on github once it has been submitted! Thanks for taking the time to get this far! ''' Crowd sourced Crypto Dashboard! Go1dfish undelete link unreddit undelete link Author: 8baller030 1: doc*.google.c*m*sp*ea*she*ts/d/1Zh2*ixrS*X*M72*Re***h*vKwG9md**-x*jl*A*tM2E/**it#g*d=0 2: previe*.re*d.it/u20h31*i6*7***pn*?w*dth=1***&*ormat=****amp;aut*=we*p&a*p;s=9455ff1*e740*6a7*c*9a629dc3**8ac7**9*fa* 3: docs*goog*e.c*m*s*readsheet*/d/1*h2*i*rSZX\**7**ReT*uhtvKwG9m*vk-x*jl***tM*E/*dit#gid=0**^1 Unknown links are censored to prevent spreading illicit content.
The past month of price action in the cryptocurrency markets has been extreme, with Decred price action being no exception. This week we look at a number of key metrics which have reached extreme values, often associated with the formation of price bottoms, reflexivity, and mean reversion. The first metric is the Stock-to-Flow model which was developed by the author. This model considers a log-log regression fit between Market Cap and the Stock-to-flow ratio of the Decred coin supply. The S2F Multiple is also shown which functions as an oscillator, indicating when network valuation has become oveundervalued relative to the S2F 'fair value' model. Following the price drop on 12/Mar, the DCR S2F multiple has entered the historical low zone last seen in Jan 2017. https://preview.redd.it/7o6dzb47r5r41.png?width=1528&format=png&auto=webp&s=e8b2f077ffe090dfa3746b2b514c0db63dcd91ee
Insight 2 - Stock-to-Flow Residuals
The next chart shows the statistical distance between the Decred Market Cap and the predicted S2F model valuation, measured in standard deviations. For reference, an equivalent S2F model for Bitcoin is shown, with some interesting similarities in the fractals playing out in Decred's price discovery. It can be seen for both networks, that as network value approaches ~2x standard deviations from the prediction, price tends to snap back towards the mean. For Bitcoin, this generally coincides with halving events, a shock to S2F value and scarcity. For Decred, this is more closely associated with oversold conditions since the smooth issuance curve is less variable than Bitcoin's. https://preview.redd.it/1httuil6r5r41.png?width=1520&format=png&auto=webp&s=3f0da25cc47b7969f6fbfed9f9376a13d0c43002
Insight 3 - 142-day Ticket Sum
An on-chain metric developed by u/permabullnino is the 142-day sum of all USD value bound in Decred tickets. DCR coins bound in tickets are indicative of strong demand for holding DCR long term. This metric (red line) has shown to act similar to an upper bound Bollinger Band as resistance during price discovery. By taking Fibonacci multiples (23.6%, 38.2% and 61.8%) of the 142-day ticket sum, additional trading ranges and boundaries have been identified. In particular, the 23.6% Fibonacci multiple (green line) has provided lower bound support throughout bull and bear cycles. In the 12/Mar market sell-off, price pierced below this level before rapidly bouncing back into the range. https://preview.redd.it/oigufn86r5r41.png?width=1388&format=png&auto=webp&s=5988ef2953cf40d3c39d8d441af9a1eb4355bd0b
Insight 4 - Puell Multiple
Decred ASIC miners have endured very challenging market conditions after ASIC hardware was first released in Jan 2018, at the peak of the alt-coin market cycle. Given miners are long term thinkers and investors, the Puell Multiple provides insight into whether income streams are profitable or not and the level of stress in the hash-power network. The Puell Multiple takes the ratio of daily PoW USD income to its 365day average. This provides a view of today's income relative to the past year. Similar to the metrics shown above, the Puell Multiple is approaching an extreme value commonly associated with the proverbial event where 'miners put the bottom in'. https://preview.redd.it/m1l3lct5r5r41.png?width=1303&format=png&auto=webp&s=e1143baa59722d8e8e9805d17bb6ebf06f8a63ee
TOP 10 Wash Traded Coins! Is Your Crypto Manipulated!?
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