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Author Topic: "Picasso" trading Bot Behind Coinbase Pricing  (Read 45 times)
coinbureau
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December 25, 2017, 12:19:11 AM
 #1

According to the blogger called Bitfinex'ed, the wild swings that we have been seeing on Coinbase and GDAX in Bitcoin cash is as the result of a bot he dubbed "Picasso".

Apparently, the bot is a big driver behind the price discrepancy in the price on Coinbase and other exchanges such as Bitfinex. The bot could be trying to artificially inflate the price on Coinbase, buy the funds on Bitfinex and make an arbitrage profit.

He claims that the bot was also responsible for the massive buy orders that were placed on Bitcoin cash when it was trading close to $8,000 on Coinbase. Algorithm error?

https://www.coinbureau.com/analysis/trading-bot-behind-coinbase-pricing-discrepancies/

Do you think that this Bot is actually behind the market manipulation? Who do you think could be controlling it? Bitfinex'ed is of the opinion it is being operated by his arch nemesis. 
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December 25, 2017, 12:46:45 AM
 #2

Saw this, kinda expected that there is a mass amount of bot usage when it comes to crypto. A wild west of trading online is bound to have these issues arise in it. I really do hope that some of these exchanges come out anti bot -- thought they wont and it's pretty evident why they wont.

As if they do they're going to be losing out on a shitton of fees. It's not worth it for them, business wise, to kill the bots.

I hope it does all end though.




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fabioganga
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December 25, 2017, 02:50:54 AM
 #3

I wouldn't be surprised in the slightest if that was really the case.

I have noticed a few cases for instance of exchanges doing strange things.... some having too much difference among themselves to make you think that something suspicious may be going on.
Serpens66
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December 25, 2017, 04:07:36 AM
 #4

all those noobs who have not a single clue about trading, arbitrage, manipulation or bots... omg
This is just nonsense.

edit:
I'm sry for insulting you, but please think before listening to such nonsense and judging "bots" in general. It only shows that you have no clue what you are talking about.
Its the same with those "Tether" theories. They only exist, because guys have no clue why someone should use tether. But those who are using it making tons of money, and that is why they buy tether and that is also the reason why it is backed 100% by USD.
I just hate all those stupid conspiracy theories.. just because you don't know how something works, it does not mean it is evil. You could tell the same bullshit about BTC, but you don't cause you know something about BTC.

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