This bot is somewhat useless.. as the previous user says.. it basically has 3 trading styles.. conservative, keeps very little currency in bitcoins mostly usd.. medium risk, splits your currency almost 50/50 btc, usd. and aggressive, buys bitcoins right away regardless of value of bitcoins.. hardly ever sells them even if the value of btc goes down. really its a useless bot. if anything upsets the markets, this bot just follows the charts down like a rock, and when value is going up , you will lose half of the true value that bitcoin goes up. again if you leave it in conservative mode, you would hardly ever gain bitcoins.
im ready for a refund .. im not impressed.
Topic: BTC Robot (Read 3319 times)
ok, got it!
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Sorry for bumping, but would you happen to know if this comes with a demo version?
Bitcoin trading does not have demo trading accounts. If you are asking about our software, it comes with 60 day money back guarantee.
That graph looks pretty good, but the story is a little different...
Full disclosure, I was given a free BTC robot license by the owners. I had PMed them because everything looked sketchy, so I told them I'd try it out to see if it was legit.
I figured it wasn't legit and they wouldn't take me up on my offer, but they did. It does seem to be a legit company, but I'm just not a fan of how things are done.They are really only looking at profit in terms of USD, and that graph makes it look like I gained a fair amount. Over the course of a month I actually lost BTC. I started with 2 BTC a month ago and when I withdrew the other day it was 1.965 and about $1 in the btc-e account. If you're looking to grow the amount of BTC you have I would suggest not using this.
Please let me know if there are any questions.
I have reviewed my first month experience with the BTC robot here: https://bitcointalk.org/index.php?topic=268533.160 . Please feel free to check it out and ask questions if any arise
Edit: @tysat - Sorry I don't mean to link off of your post! I just would rather leave it in one place rather than copy/paste it.
Edit: @tysat - Sorry I don't mean to link off of your post! I just would rather leave it in one place rather than copy/paste it.
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So the point is to grow the value in USD equivalent, not to grow the amount of bitcoins in the account.
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but what if I or others, want to grow their BTC value? Can you make a bot that grows BTC value instead of fiat, or is your bot limited to fiat growth? So the point is to grow the value in USD equivalent, not to grow the amount of bitcoins in the account.
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Lets give different example to explain the point.
You buy a bar of gold and pay for it $100.
The worth of your portfolio is $100.
Instead of trading with gold you decided to keep it assuming price will always grow. (like you just assumed with BTC when saying you need to grow BTC only)
But instead of growing the price of gold is just going down this year
after few months you are still sitting on your gold bar which is now worth only $60
You lost $40 of the value and not happy anymore keeping it forever.
With the BTC robot this would not happen. Instead of keeping the BTC forever, it would anticipate the price decrease and trade it into USD during such time so you would not lose but WIN.
You buy a bar of gold and pay for it $100.
The worth of your portfolio is $100.
Instead of trading with gold you decided to keep it assuming price will always grow. (like you just assumed with BTC when saying you need to grow BTC only)
But instead of growing the price of gold is just going down this year
after few months you are still sitting on your gold bar which is now worth only $60
You lost $40 of the value and not happy anymore keeping it forever.
With the BTC robot this would not happen. Instead of keeping the BTC forever, it would anticipate the price decrease and trade it into USD during such time so you would not lose but WIN.
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I am sure that in the long term, this robot will broke the account and lost everything.
Thank you for trolling me again marcovaldo. You seem to be all over the place with your assumptions.
Why would it lose ? It's a proven strategy, battle tested even in hard times for bitcoin. I have shown this picture many times.
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I know the robot bases the value in $, but most people here are probably more interested in BTC.
Most people are interested in making money and growing the portfolio, no matter what currency that is.
BTC-e.com allows you withdraw in any currency you need.
I'm seeing the same exact thing. This isn't really a trading robot that uses small changes in the market to make money. It's a buy and hold insurance plan. STUPID!
Still you say that the robot is legit (even if you lost money).
Maybe you can let those 2 btc in the account for 3 months, and we will get a better idea.
I am sure that in the long term, this robot will broke the account and lost everything.
Maybe you can let those 2 btc in the account for 3 months, and we will get a better idea.
I am sure that in the long term, this robot will broke the account and lost everything.
I know the robot bases the value in $, but most people here are probably more interested in BTC.
Just stating facts... In one month of letting 2 coins sit with the robot I went down to 1.965BTC and $1, so I lost money. I want other people here to know that the robot isn't specifically going to grow your BTC.
Just stating facts... In one month of letting 2 coins sit with the robot I went down to 1.965BTC and $1, so I lost money. I want other people here to know that the robot isn't specifically going to grow your BTC.
The main misunderstanding coming from the fact that during the very short test that he performed the price of BTC was growing. But if you see the long term chart
the price of BTC NOT ALWAYS grows.
Now imagine your 2BTC with the original value of say 250 usd, with the "buy and hold forever" strategy turned into "100 usd" because the btc price went down ? Now having your 2BTC is not so good anymore and you would think "oh i should have sold it into dollars when the price was high"..
This would never happen if the robot was managing portfolio, because it would anticipate the downfalls and sell BTC before you hit the low price. This is the power of the robot.
The robot is made as a long term solution for trading at least a year (or better 3 years) to see full potential.
In couple of weeks you can't see the big picture. It needs time.
Like i explained to tysat in PM,
The profit is calculated in USD not in bitcoins.
That is the value of your portfolio.
The point of the robot is to grow the USD value (counted as sum of BTC+USD) and protect it from the price changes.
In case of BTC price increase the robot keeps most of the portfolio in BTC because the price of BTC in USD grows. So in USD equivalent it grew and generated $52.15 so far in the value. (USD profit)
However in case of the price going down, the robot is anticipating the move, selling bitcoin into USD and keeping most of portfolio in USD protecting it from the fall. On the other hand in case you did not do that and just sit with bitcoins and the price goes to, say 60, you would be in a big loss, while the robot would protect it.
That is how it protected your portfolio during the September 6-9 downfall. Otherwise your profit would be at zero during that time.
So the point is to grow the value in USD equivalent, not to grow the amount of bitcoins in the account.
If the price goes up of course the robot is keeping BTC and not selling. If it anticipates the downfall it starts selling BTC to protect the account from the decrease of the price.
The profit is calculated in USD not in bitcoins.
That is the value of your portfolio.
The point of the robot is to grow the USD value (counted as sum of BTC+USD) and protect it from the price changes.
In case of BTC price increase the robot keeps most of the portfolio in BTC because the price of BTC in USD grows. So in USD equivalent it grew and generated $52.15 so far in the value. (USD profit)
However in case of the price going down, the robot is anticipating the move, selling bitcoin into USD and keeping most of portfolio in USD protecting it from the fall. On the other hand in case you did not do that and just sit with bitcoins and the price goes to, say 60, you would be in a big loss, while the robot would protect it.
That is how it protected your portfolio during the September 6-9 downfall. Otherwise your profit would be at zero during that time.
So the point is to grow the value in USD equivalent, not to grow the amount of bitcoins in the account.
If the price goes up of course the robot is keeping BTC and not selling. If it anticipates the downfall it starts selling BTC to protect the account from the decrease of the price.
That graph looks pretty good, but the story is a little different...
Full disclosure, I was given a free BTC robot license by the owners. I had PMed them because everything looked sketchy, so I told them I'd try it out to see if it was legit. I figured it wasn't legit and they wouldn't take me up on my offer, but they did. It does seem to be a legit company, but I'm just not a fan of how things are done.
They are really only looking at profit in terms of USD, and that graph makes it look like I gained a fair amount. Over the course of a month I actually lost BTC. I started with 2 BTC a month ago and when I withdrew the other day it was 1.965 and about $1 in the btc-e account. If you're looking to grow the amount of BTC you have I would suggest not using this.
Please let me know if there are any questions.
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