BitUSD Market Maker Live

[xeroc]

from my understanding you just run it like this

python main.py rpcuser rpcpass rpcport 1

gonna try this out tomorrow ..

you will need a local account "local-market-maker"

[Shentist]

would it possible if someone can set up a demo bts wallet with this bot to see how it is function?

i would love to run it my technical knowledge is limited.

[xeroc]

wow .. thats a free arbitrage bot .. am I right?

you guys rock!

[bytemaster]

We have produced a python script that can be used by anyone who wants to help make the BitUSD market and are looking for developers to help make it better!

https://github.com/BitShares/bitshares_toolkit/tree/develop/programs/market_maker

It is a tad crude right now, but we have plans to make this kind of script configurable for anyone who wants to perform this function. 

The rules are simple:
1) Buy BitUSD cheap (a few percent discount)
2) Sell BitUSD at the median price feed (or the latest feed from BTER) which ever is higher (in dollars per BTSX)
3) Adjust orders anytime they deviate from what the new orders would be by more than some tolerance.

Under this plan no *NEW* bitUSD will be created until the peg is hit *AND* everyone buying BitUSD can expect liquidity within just a few percent.   Meanwhile profits can be made every time someone switches sides of the market.

We are providing the script for others so that we can increase liquidity and decrease the spread (as our bots compete against each other ;) )

Users can now purchase BitUSD with confidence that they can sell it when they need to.   

Usage:

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python main.py USER PASS PORT REAL_NETWORK

Example:

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  python main.py user pass 8000 true

You can tweak the parameters by editing:
  main.py

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SPREAD_PERCENT = 0.05  # 5%
TOLERANCE = 0.01 # should be less than SPREAD_PERCENT / 2, the closer the tolerance the more often orders are canceled/updated

MIN_USD_BALANCE = 10  #make sure you retain enough USD to pay fees to update your orders
MIN_BTSX_BALANCE = 100  # make sure you retain enough BTSX to pay fees to update your orders
MIN_USD_ORDER_SIZE = 2  # prevent dust orders
MIN_BTSX_ORDER_SIZE = 100  # minimum order size to prevent dust

MEDIAN_EDGE_MULTIPLE = 1.001 # how far in front of the median price feed do you want to sell.