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Messages - Crypto Kong

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This is a great idea, we are working on a trading bot worker proposal and if we can better organise and allow the community to give input easier I’m all up for it. We would like to get involved.

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General Discussion / Re: btsbots wallet release v0.0.1
« on: December 04, 2017, 07:45:53 am » will not support the fork because of the unreasonable trade logic.

so if this fork happened, btsbots will stop all service for Bitshares.
include feed price source and trade bots etc.
Hi Alt, I’ve been using btsbots for a while now, thanks for creating it! We are working on a worker proposal to create a new bot. We’d absolutely love your opinion on it and any help you had to offer. Here’s the link to the thread

Upcoming WP for creating easy to use liquidity bots. Feedback please!

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From alt 9 hours ago with regards to btsbots: will not support the fork because of the unreasonable trade logic.

so if this fork happened, btsbots will stop all service for Bitshares.
include feed price source and trade bots etc.

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If the bot was released open source on github, and could run from Ubuntu, I'd be interested.

If the bot was even hard coded to give a 1% donation from all profitable trades to a hardcoded BTS user, I'd even leave that in there to support the developers myself. Of course anyone could take that out, but if I get 99% profit from using the bot, I'd use it.
Thanks for your input. Obviously we want everyone to profit from this but the point is to provide tools to provide liquidity and orders on the books. Wether someone profits is down to the end user. The developers will be paid a fair price for their work, they won’t do it if they aren’t happy and it won’t get voted in if everyone in the community doesn’t agree. The scale of the profits given away with 1% would potentially be massive with the liquidity this bot can potentially create and is unnecessary as the developers will be paid already.

It’s worth pointing out though that with the number of transactions being constantly carried out (orders constantly placed and cancelled) bts fees and lifetime memberships will increase.

With regards to it being open source, marko can answer that question better for you but I believe the current plan is to use and improve the stake machine and get that working and improve it as advised by bill butler a while ago. This is currently available on github.

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What is market making and why do we need this bot?

Market makers provide liquidity to exchanges by placing orders on both the buy and sell side. These orders allow people to trade. Without them the order books are empty like most of our markets.

Market makers earn by buying low and selling high constantly throughout the day. They earn money from the spread they have created.

With a lack of market makers there is no competition and the spread stays large. (The spread is the difference in the highest buy and the lowest sell order).

By allowing access to bots for everyone more people can try their hand at market making. Increasing not only the amount orders on the books on our markets and increasing market depth but increasing competition between market makers and lowering the spread.

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I’d like to mention btsbots. Marko and I started a room a while ago with the simple purpose of solving liquidity on the dex. From this room the bot proposal room was started.

In the liquidity room we have over 100 members now, btsbots is so hard to use I’d bet there’s less than 5 people in the room actively using it and these are some of the keenest people to provide liquidity in the community. All we talk about is btsbots and staggered orders, sometimes arbitrage. Jonny bitcoin has made a video guide, I have written a guide. Still we don’t know for sure what it does. How many years has btsbots been around? How few people are using it? Know about it? How little liquidity is it providing. To say btsbots is adequate to provide serious liquidity to the dex is naive and very unrealistic.

Btsbots only works on some markets and is only one strategy. The bot we are proposing will be available on ALL markets, even user created asset markets.

I hope that clears up why btsbots is a great toy to play with and not a good tool to work with. We are talking about providing serious liquidity to the whole dex. Not some chump change to one market. We need billions in liquidity.

Suggesting btsbots as adequate for this task, is quite frankly, a joke.

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Whenever I read promises like these
Someone tells you that there is a way to increase the value of your coin and simultaneously accumulate more of it. An easy way. You can just stake your coins and get a passive income. Like you can have your own masternode with as little as $1. You might earn 0.01% per day, or 10%. Depends on the day. And you don't even take the value from someone else.

a klaxon goes off  in my head and a big red sign reading "SCAMMER" lights up.

You cannot write a bot that trades with a guaranteed profit.

thanks for highliting the language in the proposal needs changing. This is certainly not a guarantee of profits but providing tools to all so that everyone can be a market maker and provide liquidity to the dex. How profitable a market making strategy or business becomes is entirely up to the user.

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Btsbots already does pretty much what you describe, and they did not ask for funding through worker or other way. Sorry bro, but you have a tough competition here.
Bts bots is not easy to use and no one knows exactly what it’s programmed to do, for example it doesn’t work from the midpoint it works from the settlement price. This is not ideal. In active markets we need the option to work from a calculated mid point.

The point of the worker proposal is to provide liquidity providing tools to the masses so that everyone can help increase liquidity on the dex. Btsbots will never provide this. Also in the proposal it offers two additional liquidity providing strategies that btsbots does not offer (triangle arbitrage and staggered orders).

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Hi, I’m fairly new to bitshares, the only reason I even heard about it is because I was looking for a fund that tracked cryptos and stumbled upon bit twenty.

I agree more marketing is needed. We have a working product, we should be marketing it.

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General Discussion / review for price feeding
« on: November 19, 2017, 09:06:00 am »
This is great to see ineffective exchange price feeds removed.

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Hopefully we can be kept updated here on how this change pans out.

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General Discussion / Re: Blockfolio
« on: November 12, 2017, 08:50:51 am »

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General Discussion / Blockfolio
« on: November 12, 2017, 08:33:03 am »
We are not listed as a selectable exchange where you can choose to get prices from our markets on Blockfolio, Waves is. We need to all message, email or tweet Blockfolio to add us. It will only happen if enough people ask for it.

It’s a great way to advertise our markets, dex and bitAssets. Everyone uses blockfolio, everyone trades or watches btc/usd. Everyone messes with the drop down box. No one sees the name bitshares.

You can contact them here:

Twitter- @blockfolioapp
Email- [email protected]


Please do your bit, it’s only a quick message.

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General Discussion / Re: Marketing efforts
« on: November 06, 2017, 06:08:42 am »
Awareness is another, we could all start posting on  and similar sites making traders aware of Openledger  and Rudex
This is a fairly simple but good idea, also etoro. It has a lot of noob users looking to buy bitcoin that don’t know how. They have a good forum/ chat room thing on their app. Few of us should start sharing posts on how bitshares is safest best way to trade crypto

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For those of us who want to chip in but don’t fully understand the mechanics. How are the bit assets pegged above the price at the moment? What has been put in place to stop it dropping and why can’t it be used on the opposite side to stop it rising. Just so we all understand the situation and problem better. Thanks.

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