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Author Topic: [Bitarb] GET A FREE SHARE FOR HELPING! Bitcoin Arbitrage Bot Trading Fund  (Read 10000 times)
shakaru
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March 04, 2012, 11:29:45 PM
 #1

See https://bitcointalk.org/index.php?topic=67352.msg791865#msg791865 for more info.


-----INCOMING MESSAGE-----
Sender: Unknown
IPv4 Address: Huh.Huh.Huh.Huh
MAC Address: 1L.1V.E4.1A.M0

Artificial Intelligence...............

........Virtual Currency.............

.............Distributed Earning.....


Its a new way to invest...........
Its a new way to trade............
And it will be on the GLBSE.......

Coming March 7th, 2012...........

The Machines and BitCoin rise...



EDIT: Viral campaign over.....
Here is the full info.


What is Bitarb?

Bitarb is short for Bitcoin Arbitrage

The Bitarb fund is a 100% computer automated trading platform on the Mt.Gox Bitcoin Exchange and traded on the GLBSE.
Each month 100 shares are issued, each share is exchanged at a rate of 1 Share for 1 Bitcoin. These shares are available at the beginning of every month (On the first day month  before the bot's runtime).

At the end of every month, all bitcoins held & profits (98%) shall be paid out as dividends to the 100 shareholders.
{ example: If today is March 3rd, the available fund for pre-release would be the Bitarb.apr [bitarb april shares] }

Only 100 shares will be issued. On the first day of the shares run month, all the bitcoins exchanged for the shares are
placed into an empty Mt.Gox trading account. Then at 24:00 Eastern Standard Time (est) the bot is started up and a series of trades are made based on an Oscillation Price Retracement Trading Bot or OPRTB for short.

As fluxes in the bitcoin market happen, the bot makes a series of calculations and strategic trading to come out with more bitcoin than it went in with. On the last day of the month at 24:00 Eastern Standard Time (est), the bot is stopped, all bitcoins are transferred directly to the GLBSE account and divided out at a rate of 98% of total account holding (2% goes to running the program and cost associated with it).


*shares for Bitarb.apr available now (100/100 shares sold)
**Bitarb.may will be available to buy from 1st of April 2012

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terrytibbs
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March 04, 2012, 11:31:09 PM
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What the fuck is this?
shakaru
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March 04, 2012, 11:33:20 PM
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What the fuck is this?


Check back on 3/7/2012 and see....

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March 05, 2012, 09:14:24 PM
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watching

edited to reduce nonsense.

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March 06, 2012, 02:22:35 AM
 #5

https://glbse.com/asset/cfdc02932641a4dd367eaf7864814a75ee7b66fc2e3623724335008f8b20bc2d

shakaru
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March 06, 2012, 02:40:28 AM
 #6


Ok, cat is out of the bag!


I'm going to address this a bit later (on my way out to eat).

senbonzakura: feel free to post the "What is Bitarb?" while im out

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March 06, 2012, 02:42:56 AM
 #7


Asset Id   Bitarb.apr
Max Bid   0.0000000 BTC
Min Ask   1.0000000 BTC
Issues   100
Last Price   1.0000000 BTC

Asks
Price   Quantity
1.0000000 BTC   53


at least two on the ticker
https://twitter.com/#!/GLBSE/status/176853616685105153
https://twitter.com/#!/GLBSE/status/176803953000988672


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Raoul Duke
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March 06, 2012, 03:01:30 AM
 #8

how's the trading fee bonus rolling from trading account to trading account?
afaik with rising trade volume the fees drop down.
next bot could benefit from prev. version trading volume.
that would be worth real bitcoin in fee savings

p.s. 53 shares available

If I'm not mistaken trading fee bonuses are calculated monthly, so there's nothing to lose by using a new account each month. Correct me if I'm wrong!

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March 06, 2012, 04:49:35 AM
 #9

The MT.Gox fee is a sliding 30 day window, not a hard date.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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March 06, 2012, 05:18:34 AM
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Ok, cat is out of the bag!


I'm going to address this a bit later (on my way out to eat).

senbonzakura: feel free to post the "What is Bitarb?" while im out


Well, considering it was already trading, and people like me were wondering what the heck it is, the cat was never really in the bag to begin with. Smiley

shakaru
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March 06, 2012, 05:49:19 AM
 #11

Right now within a 30 day window, my fee is 0.46%. Thats due to the trading volume of the bot. The fees are calculated into the bots performance with 0.6% fees.

Now to the fun stuff...


Over the past 4 months, Smeckles has developed a bot that I have been using to make small trades on Mt.Gox to bring in more btc than generated. During its development, the bots wallet was funded by me. During that time, I saw enough btc gain to decided that I would trust it with my wallet. During that period, the bot either lost around 5% or gained 16% on its best day. After enough run time, the bot had made me enough btc to allow me to consider it for the following purpose.

100 shares of Bitarb are sold each month 30 days in advance at a price of 1btc each. IE. If this is March, then the April shares of Bitarb.apr are available. On the first day of the month that the CD is issued for, the bot is started with all btc sold for that months CD to be used for trading. (A sellout means 100 shares at 1btc each, so 100btc to trade)

At midnight on the last day of the month, the bot is stop, and all funds in the trading account are payed out as a dividend at a rate of 98% of all funds. (2% op fee. If the bot breaks even, 100btc will be in the account. As a result, 98btc are payed out to 100 shares with 2btc to both Smeckles and myself.)

The bot is based on an Oscillation Price Retracement Trading Bot that was publicly sold, with many new features and our personal choice of patchs and algorithmic trading functions with many more to come in the coming days....

In the VERY near future we will have instant stats on the fund available to shareholders (This is already done, its just a hosting issue right now, and will most likely be up before the Bitarb.apr fund stations).


This fund is a test. With only 100btc to trade, we can see if this type of offering on the GLBSE is possible, and if so, we will offer be offering not larger, but multiple funds in a variety of fund sizes and options presented to ONLY fund holders via the motion aspect of GLBSE.

Currently, of the IPO that was NOT to be traded until 3/7/2012, there are 53 share remaining. Once they sell out, there will be no new shares offered until 4/1/2012 with the Bitarb.may fund.

Thats the basis of it. I will take any questions publicly. Ask away.  

To the note on it not being arbitrage. The current bot is not and yes is a day trader. The software we have does do arbitrage, but requires a multi-exchange interface. The second exchange is Bitcoinca, but due to their use of interest and then the mater that IBB could not be involved, made us have to pull that part of the software while we incorporate use of the CryptoXchange api and also discuss with the shareholders of the Bitarb.apr and Bitarb.may funds as the course of starting fund placement and currency footing, as well as potential new exchanges to add.

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March 06, 2012, 06:46:45 AM
 #12

hi, is that up to and including the 7th March-and which timeline ie GMT or EST? reg
edit sorry just read again and the EST bit I got so I just have to work out when 24;00 on the 7th march is in GMT?
shakaru
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March 06, 2012, 07:07:13 AM
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hi, is that up to and including the 7th March-and which timeline ie GMT or EST? reg
edit sorry just read again and the EST bit I got so I just have to work out when 24;00 on the 7th march is in GMT?

There is no March contract. 1st run is on April 1st 2012 - April 30th 2012 on sale now

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March 06, 2012, 07:50:46 AM
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hi, ok- interested. reg
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March 06, 2012, 08:50:49 PM
 #15

Is this a corporation or is this done as a personal endeavor?  If you're doing this personally or as the same corporation that has already defaulted on its numerous and sizable loans, "Investors" should understand that, were this ever to see attorneys, they would receive any payouts (if any) _after_ your existing debts are settled.

+1

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March 06, 2012, 09:05:18 PM
 #16

This is basically a hedge fund. I think it is an interesting idea to do this with bitcoins and hope you will consider trading on Bitfloor as one of your exchanges Smiley

Also, if you post returns (either on a weekly or monthly basis) you will attract more investors (assuming the returns are good). Obviously with any such trading there is a risk for loss and you should also make that clear, just to avoid any miscommunication issues later.
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March 06, 2012, 09:09:56 PM
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Ok, so lets look at this. 40+% of the shares are bought by people who are tied into SDM at this point. Total cost for me to set this up <1btc. As stated before, there is no promise of return here. You buy a share for 1 btc, if the bot makes btc in its runtime, you get your 1/100th -2% fee no mater what the value is.

Examples

Bot makes 15% in the period and all 100 shares sold, the finial balance is (115btc -2%)/100 paid as dividend.

Bot losses 5% in the period, then finial balance is (95btc - 2%)/100.

This corp is not part of SDM.
My portion of any profit goes into the SDM dispersal fund.
And considering only 100btc can be invested MAX (thats a combined, not per person) the potential losses are limited. The contract will be followed exactly as written so there is also no way for this to become an legal matter anyways.

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March 06, 2012, 09:12:06 PM
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This is basically a hedge fund. I think it is an interesting idea to do this with bitcoins and hope you will consider trading on Bitfloor as one of your exchanges Smiley

Also, if you post returns (either on a weekly or monthly basis) you will attract more investors (assuming the returns are good). Obviously with any such trading there is a risk for loss and you should also make that clear, just to avoid any miscommunication issues later.

The stats on the bots current balance and performance can be accessed by shareholders during the run. We are finishing up the finial touches on our web integration right now.

Also. Can I get some more info on Bitfloor? I still dont know them well enough to make a choice on that exchange.

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March 06, 2012, 09:16:59 PM
 #19

Capping at 100 BTC sounds fine, but is it possible that the bot could gain better returns with a fatter wallet?

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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March 06, 2012, 09:18:23 PM
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The stats on the bots current balance and performance can be accessed by shareholders during the run. We are finishing up the finial touches on our web integration right now.

Also. Can I get some more info on Bitfloor? I still dont know them well enough to make a choice on that exchange.

I am the founder of Bitfloor so obviously a little biased but here are some highlights:
- our APIs are fast and well documented
- we have rebates for liquidity providers and low fees for liquidity takers
- fast matching engine
- self-trade protection

If you would like to contact me directly, feel free to shoot me a PM or email support and I can give you some more information about the trading platform Bitfloor provides.
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