Not too long ago, we started the 10KQA Challenge (details about it here) and the core idea was simple: build a moderated list of 10,000 questions for anyone who wants to learn more about the blockchain and cryptocurrency in general. This challenge is already in our second week (the first week’s report can be found here, the second week’s here).
So the question about Bitcoin prices is still a pretty hot topic this week. And our top questions in 10KQA challenge are still about trading and making profits from cryptocurrency. Besides that, there is a lot of good news in regards to Bitcoin’s scaling problem adoption such as the fast-rising number of nodes on the Lightning Network. It looks like we’ll even see crypto in Starbucks (there is a good discussion on Reddit about it).
So here are the list of the most interesting questions and answers this week.
One of the reasons behind the Bitcoin price drop was said to be because MtGox was selling its Bitcoins after bankruptcy (by the way, here is an interesting Ask Me Anything from MtGox’s founder).
So, there is a chance that this is the MtGox’x cold storage address, which can be found here: https://blockchain.info/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk?filter=1
As we can see, starting from January 2018 there were ~37,000 BTC withdrawn (that is for about 0.22% from total bitcoin circulation supply, based on coinmarketcap). It is evident that this amount is not enough to affect the price.
There are still ~140,000 BTC in a wallet, which is 0.8% from total circulation supply).
All this turbulence with the crypto market leads us to the next interesting question:
Although there is an opinion that the extraction of arbitrage crypto profits will become impossible pretty soon, William Belk, a founder of tokenspread.com, lists seven reasons for the continuation of arbitrage opportunities.
Okay, in this case it seems evident that one should use trading bots.
Here is a list of the most popular bots available to the public that were prepared by a team at bitcoinexchangeguide.com. Most of them work on a subscription basis, but some offer free access.
There were questions regarding building bots yourself.
At the end of the day, we don’t need to forget about theory. That’s why before you start building a bot, just find the answer to the next question.
To join our challenge and get new updates, follow us on:
I will be appreciative of all participants, ideas, and discussions. It is my hope that we will all be able to get something positive from the process and that unforgettable feeling of having a flow.
We are also looking for moderators to join our challenge who will learn with us and search for new questions and answers regarding the blockchain and cryptocurrency in these categories:
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Kirill Shilov — Founder of Geekforge.io and Howtotoken.com. Interviewing the top 10,000 worldwide experts who reveal the biggest issues on the way to technological singularity. Join my #10kqachallenge: GeekForge Formula.