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Offline bytemaster

Arbitrage Opportunity... BitUSD bids are above market..
« on: August 26, 2014, 06:28:02 AM »

Anyone wanting to buy some cheap BitUSD has an opportunity to get in right now...
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline gyhy

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #1 on: August 26, 2014, 06:29:21 AM »
 +5%

Offline bytemaster

Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #2 on: August 26, 2014, 06:35:58 AM »
That didn't last long
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline CoinHoarder

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #3 on: August 26, 2014, 06:38:27 AM »
That didn't last long

Ya glad I'm didn't pull the trigger.. I had the order in, just had to click accept and it dropped even more. :)

I think it could go a little lower.. bter isn't looking so good right now.

Offline CoinHoarder

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #4 on: August 26, 2014, 07:03:12 AM »
FYI-

on buy side, 18.5000 showing up above 18.50

The 18.5000 is me, I had typed in 18.500001 or something like that.. not sure if I'm selling at that and the number is truncated or if I'm selling at 18.5 and it's a glitch of some sort since I'm priority to the other 18.5

18.5000   350.00   6,475.00035
18.50   10,000.00   185,000.00
« Last Edit: August 26, 2014, 07:05:20 AM by CoinHoarder »

Offline cygnify

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #5 on: August 26, 2014, 07:15:23 AM »
My order history isn't actually in order of time/date. Anyone else get that?

Offline bitmeat

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #6 on: August 26, 2014, 07:21:39 AM »
Bytemaster, I'm thinking the tool that I was going to do for the feeds, could be repurposed into a bot via the RPC, for interested folks who would:

1) profit from market inefficiencies
2) stabilize the system by running it

Any ideas on how to fund such project? have delegates who fund it get votes from the market participants?

Offline emski

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #7 on: August 26, 2014, 07:26:05 AM »
Bytemaster, I'm thinking the tool that I was going to do for the feeds, could be repurposed into a bot via the RPC, for interested folks who would:

1) profit from market inefficiencies
2) stabilize the system by running it

Any ideas on how to fund such project? have delegates who fund it get votes from the market participants?
You can propose this project to be funded by angel delegate. Not much aquired so far but it is doable. There is no other proposed projects (except one I plan to propose myself but some competition is OK).

Offline toast

Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #8 on: August 26, 2014, 07:27:59 AM »
Bytemaster, I'm thinking the tool that I was going to do for the feeds, could be repurposed into a bot via the RPC, for interested folks who would:

1) profit from market inefficiencies
2) stabilize the system by running it

Any ideas on how to fund such project? have delegates who fund it get votes from the market participants?

Or just let people do it because it's profitable?
I wrote a shitty 200-line bot and made $~50 so far. Maybe I will do more work and make a better bot, then I will get paid more.
Why do you need AGS for this?
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline toast

Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #9 on: August 26, 2014, 07:29:25 AM »
fill in the gaps...

Code: [Select]
while True:
    time.sleep(2)
    new_price = get_true_price()
    sec_since_update += 2
    if abs(new_price - last_price) / last_price > (SPREAD / 3):
        log("Price moved  -  old:  %f   new:  %f" % (last_price, new_price))
        log("Seconds since previous update:  %d" % sec_since_update)

        client.cancel_all_orders("USD", SYMBOL)
        client.wait_for_block()
        usd_balance = client.get_balance("USD")
        btsx_balance = client.get_balance(SYMBOL)
        client.submit_bid(0.3*(usd_balance * new_price), SYMBOL, new_price * (1+SPREAD), "USD")
        client.submit_ask(0.3*btsx_balance, SYMBOL, new_price * (1-SPREAD), "USD")
        last_price = new_price
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline tonyk

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #10 on: August 26, 2014, 07:30:38 AM »
My order history isn't actually in order of time/date. Anyone else get that?

What you mean you have an 'order history' for your account/wallet? A GUI one?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitmeat

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #11 on: August 26, 2014, 07:34:25 AM »
Or just let people do it because it's profitable?
I wrote a shitty 200-line bot and made $~50 so far. Maybe I will do more work and make a better bot, then I will get paid more.
Why do you need AGS for this?

I didn't mean AGS funding. Also, you need to take into account liquidity if you deal with some serious amounts. Yes a silly bot will do just fine if there is a wide spread. But for BitUSD to hold value you need a more responsive and tight spread liquidity.

Offline bitmeat

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #12 on: August 26, 2014, 07:41:52 AM »
As an example: BitUSD bids are way below market now. However liquidity is very thin, volatility is high, and there are no real buyers of BitUSD to help track the real price.

Offline bobohuy

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #13 on: August 26, 2014, 07:49:54 AM »
In bter.com, bid price for bitUSD/BTC is around 0.0023 and ask is 0.0021 . Why ask less than bid? And if 1 bitUSD = 1 USD then 1 bitUSD should be around 0.0019 BTC now. Why ppl want to buy at 0.0023? Any explain please

Offline bitmeat

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Re: Arbitrage Opportunity... BitUSD bids are above market..
« Reply #14 on: August 26, 2014, 07:56:13 AM »
From BTER current price:

BTSX/BTC 0.00008669
BTSX/USD 0.04395183
USD/BTSX 22.75218119

So price should be 22.75, however there are no buyers of BitUSD at the moment.

 

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