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Server Costs Correlation with BitCoin Prices?

We've seen a dramatic rise in the cost of our servers that run the back tests in the recent weeks. It is the largest cost for QuantConnect so we do our best to keep the costs low while maintaining reliable service.

Recently there has also been a tulip style rise in the price of BitCoins - the anonymous currency which relies on server farms to "mine" the coins.



Which happens to correlate well with the sudden spike in the price of Amazon Servers:


Coincidence? Or have BTC miners taken over Amazon Spot Servers? :)
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.



There's was an arbitrage for mining LTC on amazon's large GPU instances, so miners were able to profit from amazon's cloud infrastructure.
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@Jared I don't think the BTC miners are using AWS to do SHA256 mining...it's extremely cost prohibitive. I'd get in touch with Amazon about the climbing rates though...

Extremely interested in learning more about QuantConnect and your product and possible relations to the Bitcoin Space though - extended you an invite to connect on LinkedIn

Jordan
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:) We got to the bottom of it with a bitcoin quant -- there was correlation but I can't disclose how he was using it since he shared on promise of confidentiality.

Would love to chat @JordanBaucke -- lets setup a time on jared at quant connect.com
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Oh wow very interesting...I've emailed you via LinkedIn. Now you've got me curious...!
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can we backtest on bitcoin history
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Hey @Bayani - soon! We're finishing the v2.0 of QuantConnect backend which allows completely generic datasets. Then you can maintain portfolio's and trade with BitCoins inside QC :)
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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