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Bitcoin Bots + Current Bots + feeler thread

Discussion in 'CryptoCurrency' started by zenoGlitch, Apr 2, 2013.

  1. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    Lately I have been doing quite a bit of bitcoin trading. Buying low, selling high with some marginal success doing so. Does anyone have any experience with any current bitcoin bots? I have a few ideas sitting on the back burner but admittingly not our niche, and fairly high risk, but certainly something we are experimenting with now ... thoughts?

    P.S.

    Here are a few free bitcoin bots I dug up on github if it's something you want to test out. USE THESE AT YOUR OWN RISK. I am just starting to get my feet wet in this and cannot personally testify to the effectiveness of the bots on github yet.


    Bitcoin Arbitrage (python)
    Code:
    https://github.com/maxme/bitcoin-arbitrage
    buy/sell bot (node.js)
    Code:
    https://github.com/adv0r/botcoin
    bitbattle.me gambling bot
    Code:
    https://github.com/TripleSpeeder/bitbattlebot
    mtgox trade bot (in php)
    Code:
    https://github.com/1360/mtgox-php-tradebot
     
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    Last edited: Apr 2, 2013
  2. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    Thanks, yesterday was talking with a few BHW Members about a Bitcoin Bot and it seems you read my mind :)

    Bitcoin is profitable, but what's worrying me is that it is not instant-sell, it is depending on the bid, if there is a buyer for that bid...
     
  3. krzysiekz

    krzysiekz Senior Member

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    From my understanding, this is exactly how all FOREX trades work. It's never instant sell - there has to be a buyer. But with traditional currencies, there's so many buyers that when you go to sell, in a practical sense, it's almost immediate or instant.

    I am fairly sure it all works the same with Bitcoins. Given that there are fewer buyers, selling might take a bit longer. Someone is welcome to correct me if I am wrong.
     
  4. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    The trade volume is picking up a lot of speed lately, I watch it live at http://bitcoin.clarkmoody.com. I initially started buying at the hourly low and selling at the hourly high but the way it's going up now, i've just been letting it ride. It takes between 1 and 30 seconds on mtgox.com to make a trade for me which is kind of a pain in the ass. It bit me yesterday with a quick spike down right when I executed the trade.

    Bubble or not, I speculate we're going to see it above 1,000USD per coin this year.
     
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  5. closedCaption

    closedCaption Regular Member

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    If you can buy on btc-e and sell on any more popular EUR exchange you can profit instantly. The hardest part is to get money into btc-e account.
     
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  6. zoomsixx

    zoomsixx Senior Member Premium Member

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    Didn't Cyprus get a Bitcoin ATM machine? I also heard at one point there was going to be a Bitcoin debit card. I wonder what happened with that.
     
  7. pintonbd

    pintonbd Power Member

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    what is bitcoin ? sorry very noob question ..
    how to trade, where to trade ?
     
  8. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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  9. LukaB

    LukaB Jr. VIP Jr. VIP Premium Member

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    Google it and you'll find more info than anyone in here can provide you.
     
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  10. lancis

    lancis Elite Member

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    What I dont understand about bitcoins is the presumption of finite supply. Yeah, I know the story - harder and harder to generate, hard-coded limit, etc. But...

    Bitcoin is a real number, and its not bounded from below. So now we use milli-coins, tomorrow pico coins, and so all the way down till we hit the Planck scale of things. Or did I miss something?
     
    Last edited: Apr 3, 2013
  11. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    Yep, that's the concept. It is finite supply with infinite decimal places. I don't think a lot of people understand that really yet as most of us are accustomed to paying for things in whole numbers.
     
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  12. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    I mostly agree with the skeptics of bitcoins, but they dont really cover the opportunity at hand. The opportunity here is playing the market. Last night I sold at 142 AFTER buying at 90 then selling at 115 then buying again at 113 for a decent profit. Now I'm in again at 117 and we're already at 131. IMO there are some bots running rampant from looking at the live feed (hence all the 502 errors you may get on mtgox), so I try to follow there cues. It's risky as hell and requires keeping a constant eye on the market and not being too greedy with it.

    At any point it could crash down to 75 but I think enough people start buying at that point to counter balance all the sells which in turn starts another trend up.

    Bottom line in my opinion as long as bitcoin is a hot topic in the media, it's going to be volatile and present plenty of opportunities to lose coin fast OR gain coin fast. I'm certainly not risking more than I can afford if it were to all be gone tomorrow at this point.
     
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  13. soberealtor

    soberealtor Junior Member

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    damn should have dumped 4k in it at $20 per coin a few months back. Have to start listening to the Gut
     
  14. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    Hind site is 20/20 my friend. It's the same risk RIGHT NOW if you were to drop in 4k as it was back then. You are risking 4k but now the price is at 130 so you are speculating a burst.... same speculation you had at 20. A burst could happen in the next 5 minutes, or it may never happen and you will be either be kicking your self in the ass in a few months or glad you did it ;) ... That's why this is the kind of gamble you don't bet the farm on and don't let it consume you. It is a monster for sure.
     
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  15. Zapdos

    Zapdos Power Member

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    I also wanted to invest but when it was at $5/coin. I knew it would go up I just didn't want to wait around.

    Guess I'll go with my gut feelings next time I think something is awesome. Everytime it's turned out to be so and I lose out on the opportunities :(
     
  16. zenoGlitch

    zenoGlitch Executive VIP Jr. VIP Premium Member

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    Best thing to do is to invest moderately and focus on turning your time into money. There is no better investment, than using your brain to create something awesome ;).
     
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  17. boomboomer

    boomboomer Executive VIP

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    Golden insight.
     
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  18. phatzilla

    phatzilla Supreme Member

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    i had about 400 of these last year when they were 10 bucks a pop, damnit.
     
  19. lonny41

    lonny41 Jr. VIP Jr. VIP Premium Member

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    Invest in litecoin. Theyre only going to go up in time to, people are already buying them. I think theyre at $3.90 now, the were .80 or something a week ago.
     
  20. tshin810

    tshin810 Junior Member

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    Bitcoin was discussed here almost 2 years ago, I was farming it about 2 days. The price was @ USD 10 and didn't change much over a year, and I thought it not going to work well. I am surprised that the price jump up to USD 130.

    I formatted my pc few times but I still managed to find my bitcoin wallet, turned out that i have 0.56 BTC inside it, not bad :p