Bitcoin Forum

http://upload.wikimedia.org/wikipedia/commons/4/43/Anti-bot.GIF


Right Now. as soon as you buy, the price will drop.
when a person buys, it's a bot selling.
if that happens, the bot has to make the price lower,
so it can buy more.

so right now, buying is always a loss to the buyer.

therefore, do not sell to or buy from the bots.

;)

http://iwt.wpengine.netdna-cdn.com/wp-content/uploads/2008/11/robot-holding-cash.jpg

so far, there have been several people who have publicly stated using Bots.
You have been been logged and today, you are now targeted.

i use a bot. log me. target me. whatever.  ;D

Targeted for what?

So, uh, how exactly does the bot "make the price lower"?  Can you think of any way to do it that doesn't involve reducing their asking price?

If you've made it this far, can you think of a strategy to counteract this type of bot?

Oh, and feel free to add me to your list.  My bot doesn't act at all like your paranoid hallucination, but it is a bot.

from what i've heard, bitcoin bots don't perform much better than buy and hold.

anyone know a good one?

Do not trade with bots?

A trade embargo, that's how it starts...  seems the preparations for the first Luddite war are underway  ;D

It's not some form of luddite revolution, it's a very quiet refusal to give these adolescents anymore money.
remove the buys, and set the sells very high.
time for the humans to walk away time for the humans to close the doors.

STFU! just because you are too dumb to make your own bot, it does not mean that other may not make bots.
if you really want to see how many people who care about bots, go make your own exchange, where you make it hard for bots, by writeing random letter from a picture.

you have no right to tell me what to do, and what not to do. i buy from bots when i want to.

I was hoping you would reply. xD

now i did.

You have it backwards, you have to make the price higher so you can buy more. If I buy at $10 and then want to buy more, I have to offer more than $10. If there were any way I could buy at $10 or less, I would already have done it.

no offence but i think that you got it backwards...
if i have $10.
and i place a bid at $10 for 1btc, i get 1 btc
now if i want to have more btc i would lower my price to $9 and get 1.11 btc, of cource than my order would not be filled.

this is likely just to be a misunderstanding...

I can't follow what you're saying. If you lower your price, you will buy fewer BTC. If you want to buy more, you have to raise your price. The higher your price, the more sellers you can buy from and therefore the more bitcoins you can buy. If you buy all you can at $10 and wish to buy more, you have to offer more than $10. (Or wait for the market to change on its own.)

The bot is selling to you, and then using some sort of magic to drive the price lower so that it can buy more to sell to the next guy.  It is essentially a short, but without borrowing.

it was a misunderstanding. :) you are thinking that we have enough funds, and don't really care about the price.
well yes the market price will rise when you buy, and therefor if you want to buy you need to set a higher price.

but again if you only have $10. you will get more btc when you buy at 9 instead of 10.

If you had the choice between buying at 9 or buying at 10, you'd buy at 9 no matter what.

not always... if it was on a exchange then yes.
but if a friend wanted to buy from me in person at 10, even if he could buy at 9 in an exchange. he would buy it at 10.

Sure. Also if someone put a gun to your head and said "buy these bitcoins for $10 each", then you would probably pay the extra dollar too.

sure i would, i might also pay the one dollar more, if they performed torture on somebody i care about.

i really love derailing this useless thread, do you too?

I'm part of the anti-bot movement.

We all agree to bitcoins stage of infancy.  Having bots manipulating the market is bullshit and should be looked down upon. 

Just because you can download some hacks for a game doesn't make it the right thing to do.

Rather than be Anti-bot, I am for better programming to avoid such occurrences.

thanks for the announcement.

no. childhood maybe.

no its not. welcome to the real world, if i can do it, i may do it.
bots are in fact helping to stabilize the market, bots are good for bitcoin.
and bots are not manipulating the market, bots can't do that. only very cleaver people.
to manipulate the market you would need either a) to spreading false imformation b) a good amount of money(BTC or USD).
bot don't have any of them.

bitcoin is not a game. if you are shot is the real world you are dead. if you gets shot in a game you respawn.


whole your argument is like:
just because im way too dumb to make my own bot, NOBODY should be allowed to do it.
cry cry cry. im now trying to make you look bad by spreading fallacy's. and there by showing that im too dumb, to even look though my own bad argument.


i will galdly admit i use bots, my bot is stabilizing the market. and im gaining on it, no matter what way the market goes. :P
 

occurrences? of what? bots? or stupid people like tasty?
i don't understand what you mean.

Bots themselves and the occurrences of their use so easily.    The markets need to find out what specific things the program looks for and find ways that it cannot be exploited.

This could probably done with some type of 'over verification' process, where people have to re-enter passwords multiple times to make one trade.

It's the solution only people who are actually invested in Bitcoin long term will love.  Traders and bots will hate it. 

What are you talking about? What is being exploited?

there is nothing thats gets exploited.
feel free to make your own exchange, with capchas on every trade. a password every time does not make it harder for bots, its only annoying humans.

Exhibit A : Age group of bitcoin users is a wide range of 12-50 :)

Anyhow kokjo : Please school me a little bit as to how placing huge buy/sell orders stabalize things if there is no real intention of actually following through with that order?

If I goto bestbuy and tell them I want 1000 laptops, they're obviously not going to fill the order at the time, and they're not going to just let me cancel the order after they bring 1000 laptops to the store for delivery. 

Others have suggested fees should be placed on cancellations like this and I'm in agreement.

LOL. thats not the bots. that is speculators who think that price will go or down.
or that they can manipulate you to think that the hell is about to break lose.
i don't get tricked by large sell/buy orders.

I'm not going to explain it, because it might give an adolescent a useful set of rules.
So I am going to agree with what a previous poster stated in that it being "magic". xD

HAH.

told you.

(btw whatever happened to the rest of this thread, I will keep to myself. ;) be nice. )

As long as they pay the transaction fee (no 0% special period like weeks ago) I think they're just fine. It's human traders panicking.

Mt. Gox even officially encourages the use of automated trading bots.
https://mtgox.com/support/tradeAPI

It went way off-topic, and thus was deleted in accordance of forum policy.

People, we need you to report these things BEFORE they start stretching on for pages. The person who said that they reported a post was lying.

Anyway, back to the topic, folks!

correct me if i am wrong but, wouldn't forcing a min fee per transaction on an exchange make it stupid to run a bot. or simply remove any apis that bots use. if they start using the actually html, use captcha.

Targeted. (http://www.youtube.com/watch?v=VXa9tXcMhXQ)

xD

HAHA! Excellent! Precision.
I'm seriously sick of seeing that fuck be mean to people all over the forum.
I'd strangle his ass IRL just to be able to post a pic of eyeballs popped out of their sockets.
;)
I really don't like people who are impolite.

anyhow, the title of thread states exactly what I intended to state yesterday.
I see a lot of people got burned and I know why,
surprisingly it wasn't actually the bots even though they contributed largely to people's fears.
Wasn't even the panic sellers. In a round about way we could say it was the authoritarians, but we can't hide behind that. One could say it's just greed. xD