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del
January 10, 2012, 07:45:00 AM
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January 10, 2012, 07:49:45 AM
 #2

I don't mind that the amount is valid for a trade, but I do mind that robots (superhuman) can manage 1 x 10^8 trades at .01.


In other words, there needs to be a limit to the number of bids that exceeds the threshold of human bidding but minimizes the amount of bids that can be placed by a bot.


I'm thinking that number x should = 35.
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January 10, 2012, 09:06:50 AM
 #3

I don't mind that the amount is valid for a trade, but I do mind that robots (superhuman) can manage 1 x 10^8 trades at .01.


In other words, there needs to be a limit to the number of bids that exceeds the threshold of human bidding but minimizes the amount of bids that can be placed by a bot.


I'm thinking that number x should = 35.

That's a bad idea.
Trade bots are not "superhuman" -- they are different than human.  Some things, a trade bot does better than a human.  Most things, humans do better.
One of the things trade bots are better at is placing orders quickly and anytime (when they're running -- no sleep necessary like humans), according to some rules / variables.
The speed at which the trade bot can do this is limited by the exchange's API.  This is not some arbitrary figure like you are suggesting.

Actually, the figure you are suggesting may not be completely arbitrary, but it is much more difficult to objectively measure, and (I would imagine it would be ) much MUCH more difficult to overcome and resolve.

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January 10, 2012, 09:08:06 AM
 #4

You guys are just jealous you don't have the resources to run a bot to buy bitcents all day.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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January 10, 2012, 11:44:43 AM
 #5

It's spamming the histories.

Just round the fees up to some minimum value and prevent super-small trades.

I don't know about you, but I'm not so happy with hundreds of pages of trading history. Manual processing is impossible, and even automated can become a hassle if someone does DoS on this.
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January 10, 2012, 11:49:25 AM
 #6

I agree that 0.01 is too small of a tick. I'm not sure what the tick size should be, but I'm going to guess 0.05.

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January 10, 2012, 11:50:55 AM
 #7

How many transactions can one have open?  I've only had a hundred at a time at most, as it takes a few seconds to place each order through PHP.  Snooze. 

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January 10, 2012, 11:54:23 AM
 #8

I agree that 0.01 is too small of a tick. I'm not sure what the tick size should be, but I'm going to guess 0.05.

Somebody's listening.

https://www.bitcoin.org/bitcoin.pdf
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January 10, 2012, 09:36:05 PM
 #9

i like the guy with the 0.0123 bot
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January 10, 2012, 09:37:30 PM
 #10

i like the guy with the 0.0123 bot

Haters gonna hate.  Apparently even bitcoiners hate free markets.

https://www.bitcoin.org/bitcoin.pdf
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January 10, 2012, 09:39:22 PM
 #11

Someone should mix it up a bit and go with 0.0124.
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January 11, 2012, 06:29:29 AM
 #12

Better yet, 3210.0! 
(ノಠ益ಠ)ノ彡┻━┻


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January 11, 2012, 09:04:30 AM
 #13

Better yet, 3210.0!
(ノಠ益ಠ)ノ彡┻━┻

┬──┬ ノ( ゜-゜ノ)

that's better...no need for violence now :]
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January 11, 2012, 09:28:50 AM
 #14

The 0.0123 btc trader makes for some pretty graphs.  He grappled with my bid and took dozens of bites out of it.  Maybe the bot owner's goal is to generate thousands of trades, pulling the bids and asks into a tighter spread and then attacking the dumb market by suddenly buying or selling thousands of bitcoins.  It appears to be working again.  I predict another wild swing in the next few hours.


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January 11, 2012, 01:23:29 PM
 #15

I think the 0.123 is someone trying to initiate rallys and selloffs by pushing a bot to its action point hoping for a domino effect. It seems to be working too.
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January 11, 2012, 05:49:02 PM
 #16

3 0.01 transaction per second this is interesting

It's not consistent though.... Still, bot is very hungry.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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January 11, 2012, 09:13:23 PM
 #17

If there would be a limit of transactions per account per second, people would start writing bots which are operating in multiple accounts simultanously.

As long as MtGox is able to handle such amounts, so be it..

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January 11, 2012, 09:51:04 PM
 #18

Better yet, 3210.0!
(ノಠ益ಠ)ノ彡┻━┻
Bots

Y U no trade 0.067. Or 7.513. Or 15.
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January 13, 2012, 12:32:23 AM
 #19

Just set a minimum fee, like every stock exchange in the world. So you can do very small trades but it will cost you.
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January 13, 2012, 01:03:34 AM
 #20

Just set a minimum fee, like every stock exchange in the world. So you can do very small trades but it will cost you.

... is this really an insurmountable problem? Mtgox just needs to fix their shit to allow this kind of trading times 1000.
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