The idea is to scan ETH transactions and see what addresses are doing the most transactions, then calculate the % of the volume made by bots.
If <25% it will be yellow
If <50% it will be orange
if >=75% it will be red.
Details like what addresses are using bots will be available.
I might do 2 versions, one free but limited and one $10 / month to compensate for the work and service.
I have no doubt that such a service will be DDOS by angry owners/ token holders, so the $10 is justified, the hosting and security must be top notch.
What do you think?
I just made a suggestion to Bittrex staff on their support about identifying orders that come from bots and they were somewhere between dismissive and hostile about it in response.
"It's not a problem", "It's unavoidable", "No one cares", "It would be too expensive to fix"
All BS. The reality is it's too profitable for them to stop. Bots make them money, and they don't care if long term it's slow death for the coins and scamming their customers.
So I think your idea of addressing it independently is a step in the right direction. Good luck, I look forward to any results you may come up with.
We came to the same conclusion, I agree 100%, I am quite sure that botting is making good cash for both Exchanges and fat tokens owner at the expense of the traders.
This need to changes or Altcoins will become a dead zone where nobody will come to trade.
I have several projects to improve this, with an ERC30 standard that would store all the transactions inside the contract, making transparent what is happening in the exchanges, and also could limit the number of transactions per day per address.
I am doing a mini exchange that can be added in any website for the coin owners who cannot be listed in the Exchanges since it seems that they are only taking coins that are profitable (based on our conclusion), then ICO could be launched with its own mini local exchange that will work transparently because using the ERC30 new standard.
See, I am busy.