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Title: When robots attack Post by: BBanzai on July 23, 2011, 08:14:26 PM I must assume that these are what happens when automated scripts trade. How can this possibly lead to a rational market price?
http://i51.tinypic.com/sowdi9.jpg http://i52.tinypic.com/12478gg.jpg Title: Re: When robots attack Post by: Jaime Frontero on July 23, 2011, 08:23:01 PM it can't. three more days of 0% at MtGox...
Title: Re: When robots attack Post by: TKE406 on July 23, 2011, 08:25:05 PM I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.
Question is... how can we do this? Title: Re: When robots attack Post by: kiba on July 23, 2011, 08:28:48 PM I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market. Question is... how can we do this? Fair? What is fairness? Title: Re: When robots attack Post by: error on July 23, 2011, 08:30:36 PM Go buy about 10,000 bitcoins. That'll pretty much screw those bots. :)
Title: Re: When robots attack Post by: kiko on July 23, 2011, 08:38:20 PM Is their money less good because they own a computer? I think one should be careful whining about scripted trades. It's hypocritical to complain about people using programming to gain advantage while sheltering under the digital currency they have woven for free, for all of us.
Just sit back and enjoy the show, if at any given moment you think the price is wrong; put your money where your mouth is. Title: Re: When robots attack Post by: Serge on July 23, 2011, 08:49:36 PM until they become self-aware we are good
those patterns are cute although highly restrictive keep things virtually stable Title: Re: When robots attack Post by: Jered Kenna (TradeHill) on July 23, 2011, 09:09:10 PM These program traders are also keeping prices stable across TradeHill and Mt Gox as well as cross currency.
I'm with Serge, if they become self aware GTFO. Jered Title: Re: When robots attack Post by: BBanzai on July 23, 2011, 09:22:17 PM The value of a market lies in the traders. Scripts may be written with certain goals in mind, but the value lies in the coder, not the machine. I suspect this disconnect is comparable to the difference between a spiritual enlightenment and a church, between a Constitution and a government, between a marriage and a lifetime together. A map trading by map-based rules differs from the territory geometrically.
Title: Re: When robots attack Post by: BBanzai on July 23, 2011, 09:28:53 PM As an aside...with the tiny differential those programs look like they shoot for, they aren't beating the 4 cents per trade price at about $13.5/BC are they? MtGox is making far more off of these trades than they are.
Title: Re: When robots attack Post by: charliesheen on July 24, 2011, 03:55:52 AM heres a php bot
http://bitklein.com/sniper.php.gz (http://bitklein.com/sniper.php.gz) Title: Re: When robots attack Post by: Meatpile on July 24, 2011, 04:34:56 AM How can it lead to a rational market price? Well to me it looks like the fluctuations of your graph are about $0.01
Which is way more stable than bitcoin has ever been. Title: Re: When robots attack Post by: geek-trader on July 24, 2011, 06:34:53 AM As an aside...with the tiny differential those programs look like they shoot for, they aren't beating the 4 cents per trade price at about $13.5/BC are they? MtGox is making far more off of these trades than they are. I assume these bots are working for traders that have 0% fees for 3 more days. Title: Re: When robots attack Post by: error on July 24, 2011, 06:35:21 AM Yeah, but why can't the bots "stabilize" the price at around, oh, $50? ;D
Title: Re: When robots attack Post by: newMeat1 on July 24, 2011, 06:38:47 AM I'm having fun over at CampBX. There's not too much action going on, so I usually have both the highest bid and the lowest ask. Playing both sides-- don't really see a way to lose at that game
Title: Re: When robots attack Post by: BBanzai on August 02, 2011, 04:09:47 AM Stable is not synonymous with rational. Although most people treat it as such.
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