Topic: Bot - page 2. (Read 21521 times)
If you want option two then you need to either trade me the shares for .9 BTC now or send me the shares and get put on a waiting list for .95 or whatever it is (based on bitcoinica giving us back our funds) when you want to cash out.
I would like to take the offer of 0.9 per share. How would I go about doing this?
Well, if you _really_ trust Goat, option 1 is of course the best. This might be best handled by opening (or reusing) a different asset and accepting shares from Tygrr.bot to be traded for these.
If you don't trust him, a loss of 10% or even less is not that tragic (depending on when you bought the bot bonds), so it would make sense to have option 1 opened for the people who trust Goat and the rest gets paid (let's say in the beginning of August) 0.9 or more (depending on Bitcoinica) BTC as dividend. Should Bitcoinica still be something that oyu might recover, he can keep the bonds outstanding to share holders, then when the bitcoinica money comes issue a final dividend, buy back for 1 Satoshi and close it down for good.
If you don't trust him, a loss of 10% or even less is not that tragic (depending on when you bought the bot bonds), so it would make sense to have option 1 opened for the people who trust Goat and the rest gets paid (let's say in the beginning of August) 0.9 or more (depending on Bitcoinica) BTC as dividend. Should Bitcoinica still be something that oyu might recover, he can keep the bonds outstanding to share holders, then when the bitcoinica money comes issue a final dividend, buy back for 1 Satoshi and close it down for good.
Thank you for the explanation.
Why do you have to move the USD? If you'd convert to BTC and move those, then convert to USD at the other exchange, how much would we lose doing that? I understand the risk of the price moving in between the 6 confirmations, but surely it'd be less than a bank transfer?
Ack, I don't know, just really would like to see this going...
The biggest fee we have is moving USD around from exchange to exchange not the trading fees.
Why do you have to move the USD? If you'd convert to BTC and move those, then convert to USD at the other exchange, how much would we lose doing that? I understand the risk of the price moving in between the 6 confirmations, but surely it'd be less than a bank transfer?
Ack, I don't know, just really would like to see this going...
What a shame! This is by far the most interesting GLBSE asset I hold :-(
If the bot goes for anything above 0.5% and the fees are 0.5%, why not have the bot go for anything above 1%? Sure that'd be less trades, but less fees too. Just a thought from the uninitiated.
If you are sure the bot works as it should (maybe with some tweaking), I really hope we can stick to the contract (without freebies). However:
How could we have option 3 at all?
If the bot goes for anything above 0.5% and the fees are 0.5%, why not have the bot go for anything above 1%? Sure that'd be less trades, but less fees too. Just a thought from the uninitiated.
If you are sure the bot works as it should (maybe with some tweaking), I really hope we can stick to the contract (without freebies). However:
Trying to tell bankers why I need these accounts and why I need to constantly send money back and forth was not really productive. After looking into it the only real way for me to do this on any sort of scale (at a reasonable fee) was to become a registered business somewhere. Seeing how the bot was not making much money, and that the costs to do this would be massive we thought it was a bad idea.
How could we have option 3 at all?
So you wanted to trade 100% secure arbitrages only (like when there's an offer for 1 BTC @ 5 USD on A and someone sells 1 BTC for 4.90 USD on B) but still were "outbotted" by others and/or only traded close to the exchange's fee margins? From the logs you posted it seems like the bot would snipe any trade possibility above 0.5% (which would likely be the MtGox fee), so a lot of fees are to be expected.
To be honest, this should have been communicated earlier - you claimed to:
Trade more currencies than only USD trades (EUR<-->BTC<-->EUR for example still has some nice arbitrage opportunities from time to time) - which was one of the reasons why I liked the idea (more liquidity in shallow markets)
Have 0 or highly reduced fees on some exchanges
In the end of may you said:
What I'd like to hear:
Volume of trades so far in USD and BTC
Exchanges the bot is/was active on
Fees you'd currently have to pay on these exchanges, if you re-enabled this bot right now
Amount of USD + BTC on each of these exchanges' accounts
Why did you do USD --> BTC --> USD and not the other way round, so you end up with more BTC with all trades?
To be honest, this should have been communicated earlier - you claimed to:
Trade more currencies than only USD trades (EUR<-->BTC<-->EUR for example still has some nice arbitrage opportunities from time to time) - which was one of the reasons why I liked the idea (more liquidity in shallow markets)
Have 0 or highly reduced fees on some exchanges
We will report the daily volume and the profit. We will not report each trade.
In the end of may you said:
we are much closer to limiting the number of outstanding shares that will have dividends paid. we will take away 5000 if all goes well.
So by that time you probably already knew about the issues, as this was probably this big investor choosing the 1% + 1% route.What I'd like to hear:
Volume of trades so far in USD and BTC
Exchanges the bot is/was active on
Fees you'd currently have to pay on these exchanges, if you re-enabled this bot right now
Amount of USD + BTC on each of these exchanges' accounts
Why did you do USD --> BTC --> USD and not the other way round, so you end up with more BTC with all trades?
If we decide to keep the shares, do we get a portion of the profits if the bot is sold?
No, I personally do not even get a portion of the profits if the bot is sold. This was a team effort and the tech side of the team kept all rights to the bot but I know they want to sell to cover lost time assuming its a fair bid. They did a massive amount of work.
Also keep in mind this is a bond and not a stock in a company.
Doh, that's right it is a bond. Ok
I can not wait to see the results for the past two weeks of trading! I run a very simple bot, no where near what arb trading can produce, on just Gox and this week has been heavenly.
We will see a real dividend payment this week, right Goat? Not a 50 btc hand out and a pat on the head. Bots been running since May 23rd on all exchanges.
Same We will see a real dividend payment this week, right Goat? Not a 50 btc hand out and a pat on the head. Bots been running since May 23rd on all exchanges.
I can not wait to see the results for the past two weeks of trading! I run a very simple bot, no where near what arb trading can produce, on just Gox and this week has been heavenly.
We will see a real dividend payment this week, right Goat? Not a 50 btc hand out and a pat on the head. Bots been running since May 23rd on all exchanges.
We will see a real dividend payment this week, right Goat? Not a 50 btc hand out and a pat on the head. Bots been running since May 23rd on all exchanges.
Also, for anyone who wondered, HorseRider likes to troll Goat's posts (and now that I said this here, probably mine).
I find HorseRider's comments contrarian and informative. Not everyone should be rooting for the home team.I have read them all, I also called HorseRider a troll before but then I got a PM from them and HorseRider seemed truly concerned.
Also, for anyone who wondered, HorseRider likes to troll Goat's posts (and now that I said this here, probably mine).
I find HorseRider's comments contrarian and informative. Not everyone should be rooting for the home team.Also, for anyone who wondered, HorseRider likes to troll Goat's posts (and now that I said this here, probably mine).
I find HorseRider's comments contrarian and informative. Not everyone should be rooting for the home team.
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