Bitcoin Forum

hello,

i see robots on yobit that are buying coins in amounts of 4 satoshi per order, while the human traders can only place order which is more than 10,000 satoshi.

why is that?

because everything about YOBIT exchange is shady!
there is a little chance that it is another person's order that is being partly filled for example you place a big order to buy a coin with amount as big as 500,000 satoshi then there is another order above you for the value of 10,004 satoshi so when someone can buy 10,004 satosho but since it goes into two orders the history shows two, one of which is smaller than the allowed volume (this is normal)

but since it happens a lot on yobit and one right after another it can only be something shady that the site itself does not the people using the API.

for example (and i`m only guessing here) they take 1 bitcoin and split it to many orders with 4 satoshi value for a period of few hours. than everyone else thinks the market is going up and buy more coins at a higher value.

hey there, its called small buys in order not to peak the market before its time, or maybe make the market blink in order to draw attention,  there is a big chance also buying from there orders to increase volume slowly but steady..

The minimum amount is 0.0001 everytime I tried to buy less than amount I got a notification that I cannot trade at that level I have not seen order less than that,can you screenshot it we're going to believe it is a bot if it can order as low as 4 satoshis..

as its named is robot, we as the boss of that robot can order to that bot to do this over and over again, so we just have to watch it is work. it helps us which have robot and we can make our time can be use for another activities.

Never had such restrictions infact,never did bought coins worth less than 20,000 sats.Now I think of it,maybe the bots are simply pumping up the coin or making it in the top list of traded coins ? Yay,you can make a shit coin and pay Yobit to pump it up!

They are a bad exchange but why do you want to make such small orders anyway?

I think there is no reason to list 340 coins,  totally pointless.

I think they are using some script or bot for buying altcoin to pump it or to attract people..
But honestly i dont know what robot they are using because its weird we can only pay for 10k satoshi minimum..

Actually, I noticed that in yobit also found it odd and wanted to know how this also occurs, it is very likely to use bots and territory is a bit strange to me.

Its not as strange as you think it is.Let me give you a good news,no exchange site/marketplaces run without bots.All the trade volumes per second is nothing but the bots doing random stuff. Primarily used for promotion.Most of the gambling sites too, I may add.

I saw that to yesterday when I was looking at ETC. Why does those bots sell at 100btc for one.
It looks very odd.  :-\

lol bots main usefulness is to pump a coin price and maintain volume to avoid deletion from list of coins.

;)

I think your this is one of the reason why altcoin are staying alive in the market.. but not all..
Also i think thats why they are using bot because they want to clear  the reds or sell order only show buy orders so that they can attract people to buy that coins..

I totally didn't understand what you mean. Must be I have not enough experience with YoBit or maybe I just didn't notice. But here there are many replies on the question you are asking, and now with this help everything became a bit more clear to me.

I don't see that ETC is listed in yobit!! I see it on poloniex but not on yobit. OP i have seen many times that a less amount than 0.0001 can be exchanges only if the buy order is larger than a sell order and the rest can be few satoshis but there will be exchanged no matter if it is higher than 0.0001.

@to those of you who are saying it is a bot so it can do it I have to say you have no idea what a bot is and how API works. when you use a bot you are accessing the site with the same rules but through a different method. instead of opening the webpage and receiving the HTML you are contacting the site via sending it an http request and receiving usually a JSON respond.

but the rules are the same.

these things that you see defying all the rules are not being done by regular users, we don't have the power or access to do this. it is the site itself although I can not think of any reason why they are doing it! maybe a bug because there is no benefit in doing such thing.

sometimes on some coins when you see a multiple and frequent flashes, then click there if the situation will be the same which the OP mentioned then you will also see it that yes with bot it is possible to by with lowest price also. I think Yobit is paid for that to allow bot for lower sales.

i don't know where you are having in your mind but you can see them in the history of those coins. and nobody in his right mind would want to make a trade of size 4 satoshi, there is no point in that.

it is the site itself. maybe they want to keep those coins alive and say they are being traded without spending so much money. but they don't know that volume is important not the number of trades.

so this means that they dont own the bot

in yobit,ETC is in exchang!
I also very suprrise of the small mount exchang!

I am trading with smaller amounts on yobit but I am unsure why there is difference for human and bot traders. I think there must be some kind of minimum trade (not minimum order) limit for bots so eventually it might be as equal as human trades. In other words bots can choose frequencies but overall minimum limit should be 10,000 satoshis per lot (and bot can be set even to place order with 1 satoshi). I'm not sure though.

I think that Human and bots should be given the same rules to trade on Yobit. A lot of times bot place a lot of very small orders giving the wrong impression that there are too many buy and sell of the coin.
Since bot is auto and not human, it should have some restriction like maximum orders etc.

As it appears it has become a more frequent question of these days.
Only by looking at it I can manage to realize why they allow it.

the same rules apply for both human and bots the same way.
if you have ever tried any API or even YOBIT API you would have known this, when you send an API request to open an order on YOBIT or any other exchange site the same rules apply meaning if you place a 1 satoshi order it will be rejected and you will receive an error as your response.

Yes i don't think that's fair, all exchange must apply same rules for human and robot maybe you can report to their support agent with the proof about that trade so they will resolved this problem to be fair for all.

I can't trust this exchange at all. Constantly trading c robots. Confused by the interface and do all the actions on this exchange, what is risky, as it is unclear how it displays the balance in your account, each time differently.