Topic: ATTN: MtGox - page 2. (Read 5994 times)
I doubt that someone would keep their bot running for two weeks if they are losing money with it.
mtgox's subreddit may be a good place for this.
GeniuSxBoY: Why do you care if a bot adds and removes orders? How does it effect you at all?
http://en.wikipedia.org/wiki/Gaslighting
Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?
And what about all the human traders that are better than you should they have to pay extra fees?
How does it affect me???!!! What an absurd question.
Bots are simply an unfair advantage over humans.
Bots have a distinct advantage over humans in trading. Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.
I'd have a lot more time on my hands if I had the time and resources and the knowledge to build and host a bot with a working trading algorithm.
I could walk away from the computer and make money. But then again, it wouldn't be fair to other people who are less fortunate.
Bots are simply an unfair advantage over humans.
Bots have a distinct advantage over humans in trading. Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.
I'd have a lot more time on my hands if I had the time and resources and the knowledge to build and host a bot with a working trading algorithm.
I could walk away from the computer and make money. But then again, it wouldn't be fair to other people who are less fortunate.
GeniuSxBoY: Why do you care if a bot adds and removes orders? How does it effect you at all?
So about these bots........ can you do something about them?
Have you lodged this with Gox, or just here on the forum? 
So about these bots........ can you do something about them?
Have you lodged this with Gox, or just here on the forum?
As someone who actually has a trading bot, I obviously wouldn't want to see any kind of extra charge for API calls. MtGox already probably makes more money in commissions off me than I make off them 
Then again, I don't see what this particular bot is trying to accomplish other than flood the market with junk orders that it never intends to execute. My only guess would be that they are trying to confuse other traders or bots? I can't see how it could make money doing what it is doing right now, but then again, maybe I'm missing something.
As someone else mentioned, seems like a small charge for excessive order cancellations would be the best way to stop these kinds of bots, if indeed they actually should be stopped (which I'm not entirely convinced of either).
Then again, I don't see what this particular bot is trying to accomplish other than flood the market with junk orders that it never intends to execute. My only guess would be that they are trying to confuse other traders or bots? I can't see how it could make money doing what it is doing right now, but then again, maybe I'm missing something.
As someone else mentioned, seems like a small charge for excessive order cancellations would be the best way to stop these kinds of bots, if indeed they actually should be stopped (which I'm not entirely convinced of either).
Guess what time it is?
Time to stop the bots.
So about these bots........ can you do something about them?
Yes, anyone from GOX listening?
The bot issue is annoying, but not nearly as annoying when you have standing orders to sell at 14.20 and BTC goes to 14.80,
yet no execution.
And of course, the typical broken English response from GOX, "Our system was down on the week end"
The bot issue is annoying, but not nearly as annoying when you have standing orders to sell at 14.20 and BTC goes to 14.80,
yet no execution.
And of course, the typical broken English response from GOX, "Our system was down on the week end"
Where did you get such an answer? There was no problem during the weekend.
As for the price, no, bitcoin did not go up to 14.80, only one old order which was placed at that price and which didn't get executed got executed when we rebuilt the orderbook, that's all.
Would you pay a premium to get larger coins, like to get one entire bitcoin instead of 100,000,000 individual satoshis?
Isn't there some premium you pay in fees if the 100 bitcoins you bought actually turns out not to be 100 bitcoins but, rather, a few million fragments of bitcoins?
Maybe if these tiny trades are to be present, customers should be permitted to specify the denomination in which they wish to buy, so they can buy larger fragments only, no puny ones; or whole bitcoins only; or only coins worth at least 5 BTC each, etc?
-MarkM-
Isn't there some premium you pay in fees if the 100 bitcoins you bought actually turns out not to be 100 bitcoins but, rather, a few million fragments of bitcoins?
Maybe if these tiny trades are to be present, customers should be permitted to specify the denomination in which they wish to buy, so they can buy larger fragments only, no puny ones; or whole bitcoins only; or only coins worth at least 5 BTC each, etc?
-MarkM-
i must agree- i'd like to see less noobots and perhaps some sort of service for automation or trade limit.... something.....
Mtgox!!!! please change your policy.
What's wrong with bots?
Have you ever aggressively traded the US equity markets?
The NASDAQ, NYSE, and AMX are all run by bots. What would
lead anyone to believe that the BTC markets would reject
automation?
What most inexperienced perceive as "a bot" are cascading reactions.
DKN
Have you ever aggressively traded the US equity markets?
The NASDAQ, NYSE, and AMX are all run by bots. What would
lead anyone to believe that the BTC markets would reject
automation?
What most inexperienced perceive as "a bot" are cascading reactions.
DKN
There may be bots trading US equity markets (and there are), but for the most part these bots have to pay for access. First to be an effective bot you have to pay for colocation. Then you have to pay for connectivity. Then you have to pay for each trade executed.
(You can eliminate/minimise some of these costs but not all).
The problem isn't bots per-se, the problem is bots doing stupid things. And when market access is free, stupid people can do stupid things with impunity.
So true! Im honestly also starting to get annoyed, especially since the additional overhead they impose on the system is making me spend 5 times more time @MtGox as I used to.
The bots aren't doing anything. I wonder how much the guy with the bot actually made. I'm thinking less than $10 or is in the hole
if it wasn't for the bots jockeying for profit, this downward slide would be a lot more sharp.
My only issue with trading bots is the spamming of pretty much null values, assuming price adjustments at 0.00000123 @ $14 then someone else offers a real price of 4 @ $13.5
I dont mind the exchange rate spamming but the actual BTC volume offered at exchange rate is just stupid.
I dont mind the exchange rate spamming but the actual BTC volume offered at exchange rate is just stupid.
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