A bot, or an investment, can only be considered successful if it outperforms competing strategies that have the same, or better, accessibility and the same, or less, risk.
Buying a stack of BTC and holding it in a paper wallet is easy, accessibility is really high. A trade-bot, on the other hand, takes more effort and knowledge to set up, tweak and monitor and more risky than holding BTC. So if the trade-bot does not outperform simply holding BTC, it's not worth it. And when does it outperform a simple buy-and-hold strategy? When it increases your BTC and equivalent fiat value.
Except a good bot can reduce your risk compared to holding BTC. In case you haven't noticed, BTC can go from $266 to $50 in just a few days
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Both have a valid point. So I'm kinda wondering... Will bitcoin go down enough times for my bot to become more profitable than a buy & hold.
When the exchangerate crashes I end up with alot less losses in dollars than when I just did a buy & hold. My bot won't even notice and will be 'glad' to buy cheaper btc.
Either way, I consider it less risky to have money in my bot than in bitcoin on a paper wallet.
Are there alot of daytraders or bots able to increase their btc holdings on a consistent basis? Even during a rally like we're in at present?