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Cryptocurrency bot exits? And some flaws (lets discuss)

Discussion in 'CryptoCurrency' started by PinguSpy, Jun 24, 2017.

  1. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    This type of bot exits?

    For example. You play short.

    You set buy at $1.
    And sell at $2.


    1. And this bot will keep doing this thing again and again and again without you no need to look at your computer.

    2. This will sound stupid, but the more I look at those bunch of altcoins, the more I realize, it have some flaws. You can buy coin A, and pump into coin B, and then resell it back if (the price goes down or up, too complex to explain), and then you buy another new coins, sell it back and purchase another new coin.

    (sound confused)

    Because I realize, this crypto currency trade is more like game, casino or some ponzi scheme pump/dump. And new coins that sudden exits out of nothing automatically it have value?

    Imagine if you trade forex, but new type of currency keep existing again and again, and you can pair it with another fiat currency.
     
  2. tb303

    tb303 Power Member

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    A bot would need more complex rules that that or you will end up bag holding.

    Ive been looking around for bots recently and keep coming back to Gunbot for Poloniex. Have you looked at this? It seems to be one that still getting good support but Ive not tried it myself. So for now Im sticking with trading though conigy. A trading bot just seems too good to be true as we all know unpredictable this stuff can be.
    https://bitcointalk.org/index.php?topic=1715214.0

    If you're lending at all there is a lending bot thats open source and free. Pretty basic but it does work. It got me a few lent out at 0.4% for 60 days. Still a low % but its something and safer with less api permissions needed
    https://github.com/BitBotFactory/poloniexlendingbot
     
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  3. Froiland

    Froiland Newbie

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    I FOLLOW THIS THREAD.. KEEP UPDATING. THANKS
     
  4. roki4ka

    roki4ka Senior Member

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    It should be easy to make such bot, if it doesn't exist already

    To buy when index is under specific value

    To hold when index is between 2 specific values

    To sell when index reach specific value

    It will be cool if it can analyze the market and predict values but where human can't I don't think a bot would be able

    You can test it with some cheap cryptos
     
  5. 3dom

    3dom BANNED BANNED

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    Better solution is to create a bot which makes money based on diffrent price on diffrent exchanges
     
  6. RayMayLaidPipeDay

    RayMayLaidPipeDay Registered Member

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    They already have bots guys and your right they arent perfect. THe thing about them is if you watch the pattern, you can make a lot of money in the spread especially because they are usually programmed to keep raising a price or lowering a price sometimes without respect to the bid or ask amount
     
  7. whiteblackseo

    whiteblackseo Jr. VIP Jr. VIP

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    There is a saying.

    The only people who made real money from bots were the sellers, while the buyers were left in a shit puddles because they didn't work.
     
  8. elavmunretea

    elavmunretea BANNED BANNED

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    These bots exist but are a terrible idea for crypto.

    For example, people using these bots when ETH crashed the other day woke up to a massive price increase, but because their bot auto-pulled out in the dip, they lost a lot of $$$$
     
  9. RayMayLaidPipeDay

    RayMayLaidPipeDay Registered Member

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    Yeah and if you ever notice those crazy spikes on some coins, usually its a bot. One time i sold 3 btc at triple the high due to a bot malfunction (i assume unless they are just idiots)
     
  10. redarrow

    redarrow Elite Member

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    There loads of money makey currency bots privately sold for a huge price even methods shown with them .

    Internet marketers get huge $350 payouts on selling this kind of bot.

    But it a doggy doggy world you knowing the crap , don't do what it suppose to do ,but convincing overs there going to get rich.

    Quick rich scams via software very popular .

    Use google and youtube to see examples ....

    The question your get asked is .

    Do you fill guilty selling a dream what dont really exist, unless those no the score ...

    I can show you i drive a million pound car ,and live in a huge house ,and got everythink in life , but in realty i got shit just a dream , but throw a good planed out niche in there , and that dream might come true....
     
  11. FOAM

    FOAM Newbie

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    Automated Bitcoin and Ethereum Trading Bot

    I came across a interesting little script on github named "phptrader" that uses coinbase api. Although I haven't tried it yet I look forward to giving it a go once my coinbase account is verified & my raspberry pi zero w arrives in the mail. The bot will also notify you when currency is bought & sold.

    github: https://github.com/chrisiaut/phptrader
    details: https://blog.haschek.at/post/feb62


    Bot in action:
    [​IMG]
     
    Last edited: Jul 1, 2017
  12. Selfinflicted

    Selfinflicted Newbie

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    So true RayMayLaidPipeDay.

    To answer you PinguSpy, bots like this does exist indeed. I've been involved in testing a new trading bot on Poloniex for 60 days which I got results from recently.

    Investment was 1 Btc. To keep it short, we basically had 60 straight days without any loss whatsoever. It returned between 2.6% to 22.1% every day, but it was offline alot. We tried many different algorithms and changed investment preferences many times. Even so, 1 BTC became 5.23 BTC in 60 days. So it definitely works!
     
  13. randomport90

    randomport90 Newbie

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    i think this 2 rules like buy for some cash and sell for another is normal on trading sites like bittrex without any bot.
     
  14. masush300

    masush300 Jr. VIP Jr. VIP Premium Member

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    i am planning to make a bot for bitrex (not fully automated ) but to do things like : keeping your bid at top by setting certain highest amount.. options for Frenching currencies that fluctuats.. many more handy automations..
     
  15. jerennar

    jerennar Newbie

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    How cool is bittrex about bot use in their platform? I have similar thoughts but don't want my account to get banned.
     
  16. ramous0

    ramous0 Newbie

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    You won't get banned for using a Bot. They're all fair game. I use a bot for Bittrex with no issues. Also some known bots are Gunbot , CAT and Haas. This are all trading bots and take time to setup up.
     
  17. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    Any update?
     
  18. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    Mine to share lol
     
  19. Tozzy

    Tozzy Jr. VIP Jr. VIP

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    The idea to use some kind of bot to trade even sounds very odd.
     
  20. petr0x

    petr0x Newbie

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    There is a platform I am using that has a tradingbot that pays you a consistent fixed interest daily but in cash not coin. The bigger the volatility the greater the return. And the way bitcoin has been moving i have really been enjoying the interest. I would post my referral link but I am respectful of the rules. LOL Anyway crypto is risky but with great risk comes great reward. The bots out there just make it automatic and repeatable which is awesome! Set it and forget it watch the money snowball.