Author Topic: Bots  (Read 2328 times)

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Offline netcoord99

Bots
« on: January 04, 2017, 03:07:28 pm »
To Open Ledger Trader Community:


I want feedback on how everyone feels about Bots in the trading arena?

Do you approve or disapprove?

Are they an advantage for trading or disadvantage and why?

I'll tell you upfront I see them driving the values of assets right to the bottom on every market.

If we can outlaw them, how do we go about it?

Please tell us how you feel!

Thanks

Mike A.
CC: Investors Int'l

Offline kani

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Re: Bots
« Reply #1 on: January 04, 2017, 03:28:27 pm »
To Open Ledger Trader Community:


I want feedback on how everyone feels about Bots in the trading arena?

Do you approve or disapprove?

Approve.

Are they an advantage for trading or disadvantage and why?

Advantage.  Bots provide liquidity and volume. 

EDIT: Also, if you are a patient and observant trader, you can take advantage of the bots.  For example: I saw a BLOCKPAY buyer buy a bot sell order, wait for bot to place new sell, then buy again.  Repeated quite a few times.  There are many other examples...  Smart traders can use the fact that bots are predictable to gain advantage.

I'll tell you upfront I see them driving the values of assets right to the bottom on every market.

Disagree.  Most bot implementations will follow the market, not set it.  If markets are going down is because more people are selling -- is a trend in almost every crypto market.  (There are always people who need money and will sell, fewer buyers until big news).

If we can outlaw them, how do we go about it?

Not a good idea, IMHO.  Bots are very good for the Bitshares DEX (or BAE, if you prefer :) )

Please tell us how you feel!

Thanks

Mike A.
CC: Investors Int'l

I think bots are good.

Welcome

Kani
« Last Edit: January 04, 2017, 03:50:18 pm by kani »
My opinions are my own

Turn up the H.E.A.T.

Offline netcoord99

Re: Bots
« Reply #2 on: January 04, 2017, 03:54:54 pm »
All I see are bots competing and driving the price down to zero.

Thats what they did to compuceeds and they are doing it to others now.

So your philosophy is holding water my friend!


Offline kani

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Re: Bots
« Reply #3 on: January 04, 2017, 03:59:42 pm »
Thats what they did to compuceeds and they are doing it to others now.

Terrible example!

COMPUCEEDS is down because you have hundreds (or thousands?) of users who have waited years for some kind of payout.  Also, you have the asset creator issuing billions to self and selling for BTS.

Bots will follow that market down.  Many, I'm sure, have lost money trading in this asset.
My opinions are my own

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Offline kani

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Re: Bots
« Reply #4 on: January 04, 2017, 04:18:14 pm »
So your philosophy is holding water my friend!

Haha, yeah.

Your anger is misplaced my friend.  Bots aren't (usually) the cause of price drops, but they will follow it ALLLLLLL the way down.  Sorry if you've lost funds in volatile and suspicious assets such as this.
« Last Edit: January 04, 2017, 04:22:15 pm by kani »
My opinions are my own

Turn up the H.E.A.T.

Offline yvv

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Re: Bots
« Reply #5 on: January 04, 2017, 04:25:46 pm »
Quote
If we can outlaw them, how do we go about it?

Are you crazy? Bots is one of few good things currently happening in bitshares. And how are you going to outlaw them? Restrict access to API? Good luck watching bitshares dying then.

Quote
Thats what they did to compuceeds and they are doing it to others now.

Compuseeds is down because it is a piece of shit, not because of bots. It is much better to outlaw such shitty assets.

Offline kani

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Re: Bots
« Reply #6 on: January 04, 2017, 04:54:06 pm »
Are you crazy? Bots is one of few good things currently happening in bitshares.

YES, EXACTLY THIS!

And how are you going to outlaw them? Restrict access to API? Good luck watching bitshares dying then.

Yep yep yep.  Bitshares needs MORE bots, not fewer (or none!).

Don't forget that bots are also feeding funds back into the reserve pool (yes, still small but growing).  I don't foresee any way Bitshares reserve pool becomes sustainable without bots.

So, LET'S KILL THIS IDEA RIGHT NOW!  Bots are GREAT for Bitshares and are here to stay.
 
My opinions are my own

Turn up the H.E.A.T.

Offline BunkerChainLabs-DataSecurityNode

Re: Bots
« Reply #7 on: January 04, 2017, 07:16:49 pm »
Are you crazy? Bots is one of few good things currently happening in bitshares.

YES, EXACTLY THIS!

And how are you going to outlaw them? Restrict access to API? Good luck watching bitshares dying then.

Yep yep yep.  Bitshares needs MORE bots, not fewer (or none!).

Don't forget that bots are also feeding funds back into the reserve pool (yes, still small but growing).  I don't foresee any way Bitshares reserve pool becomes sustainable without bots.

So, LET'S KILL THIS IDEA RIGHT NOW!  Bots are GREAT for Bitshares and are here to stay.

I was making this point about us needing more bot support in Bitshares if we want to see more liquidity yesterday in telegram.

I actually think this is something that should have priority over the GUI.

Bots bring liquidity

liquidity brings real users

users demand GUI

deliver better GUI

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Offline yvv

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Re: Bots
« Reply #8 on: January 04, 2017, 07:33:33 pm »

I was making this point about us needing more bot support in Bitshares if we want to see more liquidity yesterday in telegram.

I actually think this is something that should have priority over the GUI.

Bots bring liquidity

liquidity brings real users

users demand GUI

deliver better GUI

Great plan! We already have something to start:

https://btsbots.com

Trading bots with nice web GUI are waiting for you.

Offline netcoord99

Re: Bots
« Reply #9 on: January 08, 2017, 04:14:18 am »

I was making this point about us needing more bot support in Bitshares if we want to see more liquidity yesterday in telegram.

I actually think this is something that should have priority over the GUI.

Bots bring liquidity

liquidity brings real users

users demand GUI

deliver better GUI

Great plan! We already have something to start:

https://btsbots.com

Trading bots with nice web GUI are waiting for you.

Liquidity or not. When you drive the price down to the bottom then the asset becomes worthless and no one wants it!

That's what these bots are doing to assets!

You bot owners  just want to make money off the assets and don't care about the other asset holders!

So don't tell me this is a good thing. I aint buying it! Now they have cost me dearly.

Thanks a lot!

Offline Chronos

Re: Bots
« Reply #10 on: January 08, 2017, 04:28:52 am »
Um, bots don't make assets worthless. If the price goes to 0, maybe it's a worthless asset anyway, bots or not.

Study an asset carefully before you buy it, to see what underlying value it may have.

Offline xeroc

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Re: Bots
« Reply #11 on: January 08, 2017, 09:10:21 am »

I was making this point about us needing more bot support in Bitshares if we want to see more liquidity yesterday in telegram.

I actually think this is something that should have priority over the GUI.

Bots bring liquidity

liquidity brings real users

users demand GUI

deliver better GUI

Great plan! We already have something to start:

https://btsbots.com

Trading bots with nice web GUI are waiting for you.

Liquidity or not. When you drive the price down to the bottom then the asset becomes worthless and no one wants it!

That's what these bots are doing to assets!

You bot owners  just want to make money off the assets and don't care about the other asset holders!

So don't tell me this is a good thing. I aint buying it! Now they have cost me dearly.

Thanks a lot!
There are bots on the buy side aswell
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Offline DestBest

Re: Bots
« Reply #12 on: January 08, 2017, 12:12:20 pm »
Bots are our friends  +5%
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Offline mea123

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Re: Bots
« Reply #13 on: January 08, 2017, 01:08:46 pm »
Um, bots don't make assets worthless. If the price goes to 0, maybe it's a worthless asset anyway, bots or not.

Study an asset carefully before you buy it, to see what underlying value it may have.

Study an asset carefully before you buy it, to see what underlying value it may have
good luck with this suggestion

Offline mea123

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Re: Bots
« Reply #14 on: January 08, 2017, 01:17:22 pm »
Bots are our friends  +5%

the trend is our friend, and as long as the underlying asset goes down, thats because the company is crab, the problem is not A BOT, Assets
already said BOT go usually both ways, otherwise we would not have a Forex Market or Stock Market anymore
are not going to Zero because of BOTS, are they

Oh an other Q: where can one see its a BOT selling/buying do BOTs have a special account name?