Topic: When robots attack (Read 1794 times)
Stable is not synonymous with rational. Although most people treat it as such.
I'm having fun over at CampBX. There's not too much action going on, so I usually have both the highest bid and the lowest ask. Playing both sides-- don't really see a way to lose at that game
Yeah, but why can't the bots "stabilize" the price at around, oh, $50? 
As an aside...with the tiny differential those programs look like they shoot for, they aren't beating the 4 cents per trade price at about $13.5/BC are they? MtGox is making far more off of these trades than they are.
I assume these bots are working for traders that have 0% fees for 3 more days.
How can it lead to a rational market price? Well to me it looks like the fluctuations of your graph are about $0.01
Which is way more stable than bitcoin has ever been.
Which is way more stable than bitcoin has ever been.
heres a php bot
http://bitklein.com/sniper.php.gz
http://bitklein.com/sniper.php.gz
As an aside...with the tiny differential those programs look like they shoot for, they aren't beating the 4 cents per trade price at about $13.5/BC are they? MtGox is making far more off of these trades than they are.
The value of a market lies in the traders. Scripts may be written with certain goals in mind, but the value lies in the coder, not the machine. I suspect this disconnect is comparable to the difference between a spiritual enlightenment and a church, between a Constitution and a government, between a marriage and a lifetime together. A map trading by map-based rules differs from the territory geometrically.
These program traders are also keeping prices stable across TradeHill and Mt Gox as well as cross currency.
I'm with Serge, if they become self aware GTFO.
Jered
I'm with Serge, if they become self aware GTFO.
Jered
until they become self-aware we are good
those patterns are cute although highly restrictive keep things virtually stable
those patterns are cute although highly restrictive keep things virtually stable
Is their money less good because they own a computer? I think one should be careful whining about scripted trades. It's hypocritical to complain about people using programming to gain advantage while sheltering under the digital currency they have woven for free, for all of us.
Just sit back and enjoy the show, if at any given moment you think the price is wrong; put your money where your mouth is.
Just sit back and enjoy the show, if at any given moment you think the price is wrong; put your money where your mouth is.
Go buy about 10,000 bitcoins. That'll pretty much screw those bots. 
I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.
Question is... how can we do this?
Question is... how can we do this?
Fair? What is fairness?
I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.
Question is... how can we do this?
Question is... how can we do this?
it can't. three more days of 0% at MtGox...
I must assume that these are what happens when automated scripts trade. How can this possibly lead to a rational market price?
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