As long as you want Bitcoin to stay highly volatile and useless as a currency, then they are fine. They will constantly attract DDOS attacks, if you enjoy that kind of thing.
I detect no reasoning behind these claims.
Topic: Your opinion of trading bots... - page 2. (Read 2153 times)
I detect no reasoning behind these claims.
The right bots are a very very good thing.
Please note: DnnBitcoin went down only about a week before the pop. There would have been a ton of coins automatically bought and sold during the pop, if there had been more botters online. That would bring more stability, and more liquidity, smaller margins, more competition. Hell, I'll pay somebody $500 if they fix DNNBitcoin and make it public again. =) It's simple - you know the market manipulators want to move that price up and down for profit... that's a hell of a lot harder and more expensive when there are thousands of small bot orders in between the MMs and their margins. =)
Please note: DnnBitcoin went down only about a week before the pop. There would have been a ton of coins automatically bought and sold during the pop, if there had been more botters online. That would bring more stability, and more liquidity, smaller margins, more competition. Hell, I'll pay somebody $500 if they fix DNNBitcoin and make it public again. =) It's simple - you know the market manipulators want to move that price up and down for profit... that's a hell of a lot harder and more expensive when there are thousands of small bot orders in between the MMs and their margins. =)
As long as you want Bitcoin to stay highly volatile and useless as a currency, then they are fine. They will constantly attract DDOS attacks, if you enjoy that kind of thing.
How do bots attract DDOS attacks?
What do you consider a bot, would you consider a simple auto stop loss system a bot?
In a way people are bots too, just slower reacting, if after a long uptrend people see the price sliding then they become more likely to sell, which further drives down price, this compounding effect causes fast down corrections as everyone tries to "get out at the top". But these corrections are inevitable as the market becomes overbought.
I personally think that most correction avalanches are caused by DDOS. Imagine if you had a dial where you could control DDOS aggression. You could basically fly the market just as you would a hot air balloon.
In a way people are bots too, just slower reacting, if after a long uptrend people see the price sliding then they become more likely to sell, which further drives down price, this compounding effect causes fast down corrections as everyone tries to "get out at the top". But these corrections are inevitable as the market becomes overbought.
I personally think that most correction avalanches are caused by DDOS. Imagine if you had a dial where you could control DDOS aggression. You could basically fly the market just as you would a hot air balloon.
As long as you want Bitcoin to stay highly volatile and useless as a currency, then they are fine. They will constantly attract DDOS attacks, if you enjoy that kind of thing.
I'm curious what everyone else thinks of trading bots. Please leave your opinion out if you are currently using one because chances are you just love it and will praise it no matter what. But when you look at the micro-economy we have here, these bots seem to be anything but good. We have watched bots crash the prices time and time again at the whim of its owner. Granted some others can recognize the pattern and benefit from it. (heck I've done it myself) But long term I can not see the good for these things. Personally I would like to see them removed from the exchanges or have an exchange created that is 100% free of bots. Granted one can probably try to program something to get around a new set of rules but I'm sure no matter what it would be apparent if someone is using a bot in a new way or something of the sort.
IMO, these bots should not be allowed until we have a large enouch economy to allow them to run without crashing the market. Wall street has them but they are not capable of single handly crashing the market by themselves.
If enough people agree - I really think its in all of our best interests to make a large effort at changing this. Even the exchanges would benefit because more of the orders placed will end up being legit orders. The load on their servers will be reduced and free up the resources for members who are trying to conduct legit trades. We al know what happens when gox starts to get choppy and laggy.
What do you thinK?
IMO, these bots should not be allowed until we have a large enouch economy to allow them to run without crashing the market. Wall street has them but they are not capable of single handly crashing the market by themselves.
If enough people agree - I really think its in all of our best interests to make a large effort at changing this. Even the exchanges would benefit because more of the orders placed will end up being legit orders. The load on their servers will be reduced and free up the resources for members who are trying to conduct legit trades. We al know what happens when gox starts to get choppy and laggy.
What do you thinK?
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