Bits.ca – Bitcoin and Crypto Currency News and Resources

  • CoinMarketCap announces a new metric "Liquidity" to combat fake volume
    by /u/UnknownEssence on January 23, 2020 at 12:27 am

    CoinMarketCap just release a blog post announcing that they have listed a new metric on their website. They call this metric "Liquidity". ​ The Liquidity metric by CoinMarketCap is designed to eventually replace volume as the default metric when ranking market pairs and exchanges. Liquidity refers to the ease of being able to trade in and out of an asset, or in this case cryptocurrencies. The Liquidity metric by CoinMarketCap takes into account a wider range of key variables from the order book, such as the distance of the order from the mid-price, the size of the order and the relative liquidity of the asset in question. ​ We refrain from using a static percentage depth to calculate Liquidity, [...] The adaptive methodology will make the Liquidity metric very difficult to “game” You can see the Liquidity metric on CoinMarketCap's site now, when you view the exchanges for an asset. https://preview.redd.it/n9bhcz1mafc41.png?width=954&format=png&auto=webp&s=2147a52892efc1a1233aee06fbcab583f40cbc04 ​ Everyone knows that exchanges fake their volume numbers so they can appear at the top of this list. The new Liquidity metric is supposed to solve this problem. When filtering by the Liquidity, you should see a list of the actual most popular exchanges. ​ https://preview.redd.it/fyu12p3abfc41.png?width=744&format=png&auto=webp&s=26f56ccb5e296d10b39eeb904a29e9400632a137 However, it seems this metric is still somewhat flawed. Even when filtering by "Liquidity", the list of exchanges is now what you would expect. Some of the most popular exchanges such as Binance are not even listed. Surely Binance has more liquidity than many of the exchanges listed here, and fake exchanges such as ZB.COM is listed as the 4th most liquid exchange. Has anybody every even used this exchange before? What do you guys think of this new metric? submitted by /u/UnknownEssence [link] [comments […]

  • Daily Discussion - January 23, 2020 (GMT+0)
    by /u/AutoModerator on January 23, 2020 at 12:08 am

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Comments will be sorted by newest first. To see prior Skeptics Discussions, click here. submitted by /u/AutoModerator [link] [comments […]

  • Q4 2019 XRP Markets Report | Ripple
    by /u/R4ID on January 22, 2020 at 11:02 pm

    submitted by /u/R4ID [link] [comments […]

  • BABB beta set to launch Feb 12
    by /u/Feed-Me-Your-Tron on January 22, 2020 at 9:50 pm

    I'll preface this by saying it's a shameless plug for referrals as I'd love to get Beta access to the BABB app. I've been heavily invested in BAX since May 2018 when the project kept cropping up here in threads about micro cap projects with big potential. For those who don't know, the ultimate goal of BABB is to provide fundraising services and to become a crypto bank. Target market is the billions of unbanked who are excluded from typical financial services across the globe. If you are interested, or are just happy to support my honesty with a referral signup here is the spiel... thanks! 👍👍 Imagine a world where we were able to move assets across borders and between our peers without being dependent on expensive legacy systems, high operational costs and subjected to considerable 3rd-party fees. Today, we are another step closer.... We've had nearly 2,500 subscriptions to the Beta waiting list from over 100 countries. On the 12th of February, 2020 the first cohort of BABBians will be given access to the hotly anticipated Beta Platform. Do you want to be one of them? 🤔 At BABB, the security of our customers is of paramount importance. Because the Platform will be in a Live Production Environment and using real assets, we are exercising caution by limiting the number of those who have first access to 200 and scale to everyone on the waiting list in phases. Once authorized, Beta participants will be able to store, send, receive and convert their own tokens. More importantly, they will be able to raise funds and donate to causes that are dear to BABBians all over the world, but at a much lower cost. In short, more funds get to where they are needed most. Here is your unique link to share with your family, friends, colleagues, and neighbours: https://getbabb.com/?referral_id=1666 - the referral window will close at 18:00 on the 31st January 2020. Those who qualify (and are eligible) will also be invited to attend the event in-person, or online through a private live stream if they would prefer. submitted by /u/Feed-Me-Your-Tron [link] [comments […]

  • BlockFi lowering it's interest rates
    by /u/SilverHoard on January 22, 2020 at 9:44 pm

    BTC (0-5 BTC) Current rate: 6.2% New rate: 5.1% ETH (0-500 ETH) Current rate: 4.1% APY New rate: 3.6% APY We are reaching out to announce an upcoming BTC and ETH tier rate change. We hope this provides all BlockFi clients with more earning opportunities. Our new rates are as follows: Bit funny that they phrase it as creating 'more earning opportunities' while their rates are clearly going down. But okay. Going into effect February 1st. submitted by /u/SilverHoard [link] [comments […]

  • If central banks go crypto, why use retail banks to store your crypto ? How will retail banks fund their lending business ?
    by /u/Rombbb on January 22, 2020 at 9:15 pm

    Seems like quite some consequences. You could almost just get a mortgage directly from the central bank. They probably couldn't handle the admin of servicing a whole population directly, so a role remains for retail banks, but man will it be different. No more retail deposits pretty much sets its on its head. Banks could become some sort of crypto custodians, for people not wanting the responsibility or technicalities of owning wallets and private keys, but wallets will become way more useable and anyone could start a custody business. When central banks go crypto there's also no real need for Swift for international payments or a need for fiat on ramps anymore. Turns the banking system pretty much upside down. submitted by /u/Rombbb [link] [comments […]

  • BCH announces cartel of miners and forced donations of mining reward to support development
    by /u/slevemcdiachel on January 22, 2020 at 9:08 pm

    https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e tldr: The top 4 miners of BCH have announced that they will separate 12.5% of their mining rewards from BCH towards a developer fund. Since their combined hash rate is over 50% they say they will orphan all Blocks that don't follow suite. submitted by /u/slevemcdiachel [link] [comments […]

  • MyEtherWallet now supports Unstoppable Domains!
    by /u/MagoCrypto on January 22, 2020 at 8:50 pm

    submitted by /u/MagoCrypto [link] [comments […]

  • Our Podcast covered the Coss.io situation in a new format we decided to call Red Flags where we lay out red flags, and what excuses there could be for them. We'd love feedback!
    by /u/CryptoBasicBrent on January 22, 2020 at 8:26 pm

    After years of talking about red flags on the CryptoBasic Podcast, we decided to make it official and have a format where we strictly cover the red flags of a project. We break down each red flag, why it's bad, and what excuses there could be for it to not be a red flag, and then give our opinion of the aggregate of the red flags we've seen. We covered the Coss.io situation in this first episode with this new format, and we focused heavily on some of the mod drama that was put front and center in this subreddit (related to the other subreddit of course). We would love feedback on the format, and feel that we are helping contribute to thought out analysis rather than FUD or tribalism in the space. Check out the episode here submitted by /u/CryptoBasicBrent [link] [comments […]

  • Is Trade FX International a Trustworthy Platform?
    by /u/Disgustipated2 on January 22, 2020 at 6:35 pm

    submitted by /u/Disgustipated2 [link] [comments […]