You think having a botnet of real Bots is a bad idea?
Quite. But also very hard to see how the economic and business models will ever stack up.
They are looking to recoup maintenance cost but I don't think they will unless something drastically changes. If they break even then they will be happy.
But its added decentralized security for the network and LEA supporting Crypto so it's a Win Win in my book.
How could they break even when they are competing against ASICs in data centers?
ASIC resistant blockchains.
No such thing. Insider only ASIC blockchains yes.
Note the terminology employed. ASIC
resistant. Not 'ASIC proof'. There currently exist blockchains upon which GPU mining is profitable.
I hate to get you back "on topic" jbreher, but I would like to confess that I made a bit of a orderbook/laddering/incrementalism "screw up."
I had some sell orders fill in around the $11,950 price area, so I was resetting my buy orders, and the price was around $11,867, but I was setting one of my buy orders to buy back some of my coins in the $11,200 arena, but instead of typing $11,200, I fat fingered it (typed $12,200), and I accidentally bought immediately at $11,867.
So when I make those kinds of buy/sell mistakes, I have to attempt to make up for it, by cancelling at least one additional buy back order, and hope that I am able to sell the same amount that I accidentally bought at a bit of a higher price.. at least break even, cover my fees, and maybe a few dollars profits, just for cushion (in case I make another quickie mathematical mistake)..
So, anyhow, I am kind of hoping for BTC prices to go short term UP before going short-term DOWN in order to get my various order books laddering etc re-synchronized.. otherwise, my orders will likely be out of sync for a bit of time... until I make up for the mistake in the opposite direction. Either way, I am likely to get resynchronized, even though the mistake kind of screwed up my rhythm.
Surely, I have had much worse mistakes. This mistake ends up still being profitable because mostly it covers my fees on both ends, but it is just inconvenient. The worse mistakes are when I mistakenly buy back for more than I had sold and then having to account for fees, too,.. then I am kicking myself harder in those kinds of fat finger circumstances, and it usually takes longer to make up the difference when it is an already losing mistake... versus this one that was still covering my costs. This one just caused me to make less money and for my orders to be out of sync and so I have to spend additional time paying attention to getting my orders resynchronized.. .. but if the BTC price goes up immediately to about $11,987-ish, then I will be pretty much back to the position that I would have been (absent the mistake) and quickly resynchronized... and back into regular and systematic business as usual mode.
Edit (21 minutes later):Problem resolved. Correction sell order filled. I reset the correction sell order for $11,982-ish... because there was a little bit of a wall of coins at $11,984, so I wanted to make sure that my orders got filled, instead of getting stuck..... but either way the matter was resolved because the price went up beyond my amounts, and I was able to reset my buy orders back to the original intended amounts
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