I posted an opinion video about Craig Wright getting a copyright for Bitcoin source code and early documents. This was posted on Youtube but I got detailed comment on what is really going on with this:
Hi Bryan, thanks for this news update. No worries about BTC, it’s just the copyright registration that got confirmed, this neither validates the claim nor copyrights anything, this news means nothing. Everyone can do this if they wanted, the opposing copyright claimers could then chose to sue each other in an attempt to prove their claim but nobody else interferes automatically. If anyone cared enough about this, they could do a massive copyright registration as a protest so he had to sue thousands, but why bother with this clown. It is all contradictory with the MIT license the BTC code was published on, if this ever was meant to be copyrighted then it would not have been opensource ofcourse. BSV pumps because it is heavily centralized, not many miners left and they could just mine BTC for a few weeks, now pump it into BSV to fake a news response, algos just follow pumps. Their delisting from major exchange has a perverse effect, the real volume needed to pump it is greatly reduced, if this was still listed on exchanges like Binance it would need millions of dollars to keep the price up like today. Gonna be interesting to see if BSV can hold this level.
Let me know what you think?
A few more notes about this Kraken bot here:
It seems that the cryptocurrency is more negative than positive. I have also tested many different threshold to have higher probability of profit. It seems that this volume weighted average price metric needs to be at close around 2. Here the average is -0.21 which shows the amount of downward pressure on the entire asset class.
How is this volume weighted average price calculated?
I use the volume and hourly price of BTC, ETH, LTC, ETC, and BCH to measure it. This is also measured hourly as you can find in the image.
What does this mean?
It seems that the space is more negative with whipsaws that take out open positions. They come out of nowhere which means you get a very high probability of losing positions. It seems that is quite difficult to trade in these conditions. When the overall crypto space (usually driven by the performance of BTC), it seems the trading conditions are never good to fight upstream a surging river. I have tested this since Friday these conditions. Over the last 24 hours, it just seems there are more negative positions than positive even if this average price hits close to 0.94.
As a result, it might be best just to wait it out until automated trading kicks when this average price hits around 1.5 or 2 for higher probability of winning positions. How often this happens is another question. We shall be ready when it does happen.
Want to build a crypto currency bot under great market conditions? You can profit a lot when it hits!
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