Bitcoin Forum

The establishment of modobot.com marks a milestone in a project I started in April, and sort of ballooned. I became interested in the idea of building a Bitcoin trading bot. Since in my daily life I work with PHP and web based technology, it was natural for me to utilize that platform to quickly build a proof of concept. Public Code. (http://"https://bitcointalk.org/index.php?topic=185901.msg1980400#msg1980400")At that point I called it 'Lazy Bot', because it is really the polar opposite of a high frequency trading bot.

While doing research, I found that there are some very good engineers building trading bots, and that although the trading logic is not magic, the configuration is necessarily complex. I personally found many of the applications to be unapproachable, mostly because I didn't understand the basics. I have since learned, but I wanted a way to introduce people to the world of digital currencies and automated trading in a manner that does not require any technical expertise other than the ability to open a browser.

I would also like to thank the following bitcointalk.org members that volunteered for alpha-testing: honolululu, td services, Elwar, btc-mike, Stephan224, and marlin1331. I appreciate the help and the direction.

Inasmuch as this is an announcement, I am also requesting public comment and questions.

http://www.modobot.com/modo/data/images/ModoBotcom_x_400.png (http://www.modobot.com)

A lot of things have happened since our last update. Our production server is up and running, and alpha-testing is proceeding. We still plan hitting the November 1st target date for a limited beta roll out, with a full public roll-out sometime before the end of the year. We added spread calculator for you to try out, a standard feature of our bots.

We hope you will come take a look.
Min

i would like to do an article about this for www.cryptonerd.co :)

It definitely looks interesting, and i signed up for a potential beta spot :)

Feel free to PM me with any specific details you want us to mention, and any insight in how it will exactly work would be appreciated :)

Would you mind terribly if I gave a description here, and then follow up privately with any clarifications? I'm an engineer, and not much of a publicist, so this is a good excuse to sharpen my prose. :)

Modobot.com is a web-based, automated platform for digital currencies. Right now, the only currency is Bitcoin, and the platform utilizes the Bitstamp API. Using a web-based platform allows bots to run 24-7, and frees the operator from the care and feeding of their bot. In other words, no software to download, or keep patched. It also allows for multiple bots to run against multiple currencies and and exchanges at the same time, and all are accessible via web browser anywhere.

The trading logic for this iteration is very simple; buy low and sell high, with some minor enhancements to prevent transactions when the market conditions are wrong. For instance, not selling while the price is still increasing. Future versions will include more sophisticated trading logic, and enhanced functionality.

Bots are going to be subscription/fee based. There will likely be a free simple version for everyone, but with a trading limit of 1BTC; a mid-level version with maybe a 25BTC limit, and a version for unlimited trading. The mid and top level versions will have some nominal entry fee, but will also have access to other tools, including a 'Speed Sim' back-testing tool, and mobile-based widgets to allow operators to monitor bots when not in front of a PC, plus the source code for a stand-alone bot. The site will collect a .03% - .05% transaction fee, based on trade level.

Most development at this point has been going into securing the back-end and database. The site is not yet set up for SSL; that will happen once we start adding active bots.

If I can clarify anything else, please let me know.

Min