DashingAgent (OP)
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November 12, 2019, 09:47:32 AM Last edit: November 12, 2019, 10:10:21 AM by DashingAgent |
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Is there any Impact of AI technology in Trading?
Is there any Impact of AI technology in Trading? or can it automate the trading process? IMO AI is not producing any benefit to humans because using the AI many companies will build robots and the need of humans will be ended. There will be no need of humans anymore, the unemployment rate in the world has already increased too much, & do you know that the salary you are getting paid is just nothing? $8K-$16K per month are even nothing to anything. The minimum salary a human may deserve should be equivalent to the cost a human pay to save his life in the hospital. Maybe AI can reduce the cost of operations but it does not resolve the issue yet, because the unemployment rate has been increased too much. Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?
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TrevorS
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November 12, 2019, 10:54:30 AM |
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If all work will be carried out by robots, then people are highly likely to switch to a basic income system. When each person will receive from the state a certain amount of money to cover their basic needs. Or there will be no money at all, and everything you need will be given out for free, because it will be created by robots. Thus, people do not have to spend time earning money in order to ensure their survival, and the forces of mankind will go to science and art.
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MURONDI
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November 12, 2019, 11:11:57 AM |
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the impact of robots in trading can save time because it can buy and sell automatically, but all of that also needs to be watched because the robot works continuously without regard to market conditions, humans will adapt to circumstances, maybe in the future people no longer work traditionally, people will follow the conditions of the time at that time, maybe at that time people relied more on the brain than on the muscles to make a living.
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ChrisPop
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November 12, 2019, 01:10:27 PM |
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If it would be an ideal world and the planet's resources would be used at the maximum potential then a universal basic income would be viable (free money) - that would cover all the basic needs of a person like shelter and food. Then if a person wants to achieve higher levels of life quality or social presence he/she should go and pursue a career, etc. With all these I still think that there should be some requirements for getting the UBI specific to different zones on our planet like having to go through education and not drop out, etc. I think the AI technology will only free our time from all those mundane, repetitive tasks so we can focus on more creative things. Humans are not robots - we are creative and can create wonderful things. Through AI traders basically automate trading strategies and/or find new ones. Of course that will have some repercussions on the market behaviour, but still the same rules apply - buy low, sell high to make a profit. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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wajik-tempe
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November 12, 2019, 01:11:27 PM |
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the impact of robots in trading can save time because it can buy and sell automatically, but all of that also needs to be watched because the robot works continuously without regard to market conditions, humans will adapt to circumstances, maybe in the future people no longer work traditionally, people will follow the conditions of the time at that time, maybe at that time people relied more on the brain than on the muscles to make a living.
Robots can not replace human on trading, even the robot itself must be coded by the human who know how to trade. And i think if this trends growing big, people are going to use AI without knowing what the bots will do and these bots can be manipulated by the algorithm makers to make profits to theirself and i think it's not good for crypto environment
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abel1337
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November 12, 2019, 01:41:44 PM |
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the impact of robots in trading can save time because it can buy and sell automatically, but all of that also needs to be watched because the robot works continuously without regard to market conditions, humans will adapt to circumstances, maybe in the future people no longer work traditionally, people will follow the conditions of the time at that time, maybe at that time people relied more on the brain than on the muscles to make a living.
Robots can not replace human on trading, even the robot itself must be coded by the human who know how to trade. And i think if this trends growing big, people are going to use AI without knowing what the bots will do and these bots can be manipulated by the algorithm makers to make profits to theirself and i think it's not good for crypto environment AI machines can't really replace humans on trading if we based on today's invented algorithm but we don't know in the future if programmers can do an AI for the sole purpose of trading. It's hard to compete with automatic trading but It can possibly block by some systems if it is illegal. So AI for me can't really invade human on trading, But it can possibly destroy us humans on a battle of trade. As I said humans can create an AI and an anti-AI.
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carlfebz2
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November 12, 2019, 01:42:43 PM |
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Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?
There are things which cant be handle out by robots.Yes, they can automate everything and fasten up operations way more than a regular employee would done but there are circumstances that a robot cant do like decision making on possible case scenario and come to think that AI/robot been created by human itself and it might automate or do such work but it wont come to a point that they would took care of everything. Human intervention would always be present.
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Hamphser
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November 12, 2019, 02:16:09 PM |
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Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?
There are things which cant be handle out by robots.Yes, they can automate everything and fasten up operations way more than a regular employee would done but there are circumstances that a robot cant do like decision making on possible case scenario and come to think that AI/robot been created by human itself and it might automate or do such work but it wont come to a point that they would took care of everything. Human intervention would always be present. AI robot will do everything you tell to it as long as it is written on their program but they can't do what the usual brain would do, for example: having a feelings, reasoning, hungriness, thirsty etc. Therefore, robots cannot replace human because it lacks of emotions although emotions also are the reason why most people will fail in trading or handling any investment.
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Wexnident
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November 12, 2019, 02:27:28 PM |
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It's a lot easier and less hassle for the trader when using AI's but it doesn't really provide the necessary advantage or profit that they are looking for or that a trader could get. Professors in the past often told me, Computers are stupid. They can only read 1's and 0's and not gonna lie, it looks quite fitting when using AI's. They are unable to perform tasks a normal human could, and more useful in terms of canned transactions. For those whom don't know what canned transactions are, it's pretty much just a repetitive process often used in a transaction like, the printing of a schedule for college students, the printing of report cards, those can be called canned transactions.
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BitHodler
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November 12, 2019, 03:21:37 PM |
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Therefore, robots cannot replace human because it lacks of emotions although emotions also are the reason why most people will fail in trading or handling any investment.
Bots not dealing with emotions is one of the main reasons traders use them, so I see it as an advantage rather than a disadvantage.... emotions are useless when it comes to trading so better eliminate that aspect by using a bot. The thing I'm not comfortable with is having no control over how that bot is utilizing my capital, especially when I'm asleep or just not paying attention, so I will stick to buy low sell high 'trading' manually as that is what I'm comfortable with.
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DoublerHunter
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November 12, 2019, 05:23:52 PM |
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We have a different perspective way and understanding about using Autobot in trading. There's nothing wrong if you are using this but remember they had also the capability to do work and help humans to make the task easier and less hassle-free. Just like in trading, I am using Autobot like Gunbot but I never rely on this and I still have my own research. At least I have an advantage when I am away from the keyboard but my auto bot will do the job. A proper setting like buying point and selling point which is no need to watch always the market price.
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DashingAgent (OP)
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November 12, 2019, 06:40:26 PM |
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If it would be an ideal world and the planet's resources would be used at the maximum potential then a universal basic income would be viable (free money) - that would cover all the basic needs of a person like shelter and food. Then if a person wants to achieve higher levels of life quality or social presence he/she should go and pursue a career, etc. With all these I still think that there should be some requirements for getting the UBI specific to different zones on our planet like having to go through education and not drop out, etc. I think the AI technology will only free our time from all those mundane, repetitive tasks so we can focus on more creative things. Humans are not robots - we are creative and can create wonderful things. Through AI traders basically automate trading strategies and/or find new ones. Of course that will have some repercussions on the market behaviour, but still the same rules apply - buy low, sell high to make a profit. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I am agree with you and this is to happen. Otherwise it will create a big problem, & there will be internal wars b/w people. Just imagine that when everyone will not find the job, and also not find a living, then he will kill you.
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Consider Donations: BTC 17ox7CoDkfwM9bpTXvnhH1YJAy1Cproa7D - Has any whale the power to donate a penny by considering 1000BTC=$1? (Consider "penny") ETH:: 0xa0ad5e0e8fc86a8440992ad57b201fadefbaf595 (Not for whales, but for crypto lovers to donate me eth or tokens)
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DashingAgent (OP)
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November 12, 2019, 06:50:25 PM |
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If all work will be carried out by robots, then people are highly likely to switch to a basic income system. When each person will receive from the state a certain amount of money to cover their basic needs. Or there will be no money at all, and everything you need will be given out for free, because it will be created by robots. Thus, people do not have to spend time earning money in order to ensure their survival, and the forces of mankind will go to science and art.
Agree with you. At-least if this happens then it will resolve the major problem of the world which is unemployment.
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Consider Donations: BTC 17ox7CoDkfwM9bpTXvnhH1YJAy1Cproa7D - Has any whale the power to donate a penny by considering 1000BTC=$1? (Consider "penny") ETH:: 0xa0ad5e0e8fc86a8440992ad57b201fadefbaf595 (Not for whales, but for crypto lovers to donate me eth or tokens)
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shield132
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November 12, 2019, 06:58:09 PM |
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Is there any Impact of AI technology in Trading?
Is there any Impact of AI technology in Trading? or can it automate the trading process? IMO AI is not producing any benefit to humans because using the AI many companies will build robots and the need of humans will be ended. There will be no need of humans anymore, the unemployment rate in the world has already increased too much, & do you know that the salary you are getting paid is just nothing? $8K-$16K per month are even nothing to anything. The minimum salary a human may deserve should be equivalent to the cost a human pay to save his life in the hospital. Maybe AI can reduce the cost of operations but it does not resolve the issue yet, because the unemployment rate has been increased too much. Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?
I think this question must be moved from trading discussion to other place because it's far from this section and includes a lot of things to discuss. Currently AI technologies aren't useful in trading because they can't read news from websites, analyze their content and decide what kind of impact it will have on currency's price. AI won't be able to change human because human created it, it's like saying human can change god. In this case we are gods for them cause we created them, AI. It's hard question to answer what will happen around employment task. This situation can make it better (make things easier and leave you with more free) or make things worse (leave you without job and make it fully AI functional). Minimum human salary was and will never be fair cause some people own more money than half of the nation but at the same time this is the world we created and product of what we become. Governments and banks never/ever have to pay free money to people because free money kills every kind of motivation and makes even motivated people lazy ones. It's needed as a stimulus.
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adroitful_one
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November 12, 2019, 06:58:54 PM |
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Therefore, robots cannot replace human because it lacks of emotions although emotions also are the reason why most people will fail in trading or handling any investment.
Bots not dealing with emotions is one of the main reasons traders use them, so I see it as an advantage rather than a disadvantage.... emotions are useless when it comes to trading so better eliminate that aspect by using a bot. The thing I'm not comfortable with is having no control over how that bot is utilizing my capital, especially when I'm asleep or just not paying attention, so I will stick to buy low sell high 'trading' manually as that is what I'm comfortable with. This is a huge aspect of trading with a bot. The bots are not going to panic sell a coin early just because the price went down. All the bot knows is that it bought at this price and should sell it at this price. This is the huge advantage crypto bots have over real people. Really, you should have control over what the bot does with your money. You should be able to tell it that you want to buy a coin that is down say 10% in a day and you want to sell it when it goes up 20% in a day for instance. It's not going to do anything you haven't told it to do.
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enhu
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November 12, 2019, 06:59:19 PM |
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AI may not really be the most brilliant technology ever created today, it may not even be the focus right now of government, industrial companies, facebook and banks because in the next few decades we are all going to be in transition to using blockchain and smartcontracts. They will all realize how revolutionary this technology is and we may be able to use it in trading.
But automation in trading will really depend to the kind of conditions and parameters to execute buy/sell order. In Forex this is what they call the Expert Advisor (EA) where they just install it on their trading platform and go on with their daily lives. Soon they realize EA doesn't understand all kind of market situation because in most case they end up losing money. When trading is automated, the decision isn't made by you but the bots.
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carlfebz2
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November 12, 2019, 08:05:26 PM |
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Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?
There are things which cant be handle out by robots.Yes, they can automate everything and fasten up operations way more than a regular employee would done but there are circumstances that a robot cant do like decision making on possible case scenario and come to think that AI/robot been created by human itself and it might automate or do such work but it wont come to a point that they would took care of everything. Human intervention would always be present. AI robot will do everything you tell to it as long as it is written on their program but they can't do what the usual brain would do, for example: having a feelings, reasoning, hungriness, thirsty etc. Therefore, robots cannot replace human because it lacks of emotions although emotions also are the reason why most people will fail in trading or handling any investment. When it comes to emotion matters then robots are indeed immune to it but come to think and as i have said earlier where there are circumstances which cant be avoided which do need some immediate action which would involve emotion and intuition on where these robots/ai cant do. Human are way superior yet its the main creator of these things and they do have that main purpose which on automation but doesnt mean that they are capable of everything.
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its-a-me-mario
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November 12, 2019, 08:20:42 PM |
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Alright well ignoring the utter nonsense about AI/ML in the post and focusing on the actual impact of AI on trading:
Smart order routers: One place AI is commonly used in trading systems is adaptive smart routing technology. Smart order routers are an industry standard (and a legal requirement) on Wall Street but they're still working their way into crypto trading. Machine learning techniques can help dynamically adjust and tune an SOR on the fly depending on volume, liquidity, trade activity, and other factors on each supported exchange.
Developing automated strategies Some ppl are using ML to determine trading strategies but I think most ppl still prefer to develop and tune their own parameters for an automated trading strategy instead of relying on training ML to develop a strategy as ML can be unreliable and trusting it with your (or your clients') money is a scary prospect.
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acdc
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November 13, 2019, 09:52:15 AM |
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I think there is a lot of AI in the trading market, even some big exchanges like Binance and Polo have their own AI. However, at present AI must operate under human supervision, it cannot operate independently. In the future, AI will certainly work in most areas, but the government will control it and people will move on to work on services.
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Genemind
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November 13, 2019, 10:46:37 AM |
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Just like robots and machines in our modern technology AI also has a huge impact on trading though it isn't advisable especially for beginners. Ai could perform our trading tasks but it couldn't control things since it's emotionless. As for me, it's better if we'll do trading ourselves instead of relying on Ais. Let's just have enough knowledge about it because there are services which Ai cannot perform.
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