What's wrong today with profit?
Until today, i was around 3/5% profit and now :
Could you explain us how is possible?
I can understand a bad day and a small lose, but here it's a big lose of all earn since two weeks...
This case worth explanation...
Hey guys,Today was a very turbulent day indeed. The way that the bot currently works is, that it takes deposited BTCs and distributes them evenly among different currencies on different exchange markets, so it can trigger trades as soon as arbitrage opportunities arise. Most opportunities can last only few seconds at most, so we can't afford to do fund transfers before the trade. The screenshot shows how you can view your current fund distribution on the dashboard.
https://i.imgur.com/htuc1ja.pngAs you click on withdrawal button, you can see this calculation here showing where profit comes from and what everything it entails. (By the way this also separates us from ponzi websites claiming to make profits from arbitrage - we can show you how we get to the profits - they can't. Ask them, we dare you
)
https://i.imgur.com/i1rcZpI.pngConsequently, as we hold three currencies, we are somewhat exposed to fluctuations of LTC and USD. Without getting into too much technical detail, the problem arises as we convert LTC back to BTC - affecting the profit. We are well aware of the fluctuation problem (also explain it in the warning page) and are currently in the process of testing a solution. When determined that it is 100% stable and effective in mitigating currency risk, we will patch Bitllama with the new algorithm. If successful, users should no longer experience any negative trades, arbitrage loss or negative fluctuations. Not even temporary
So stay tuned, we're working on this solution really hard and can't wait to release it - it shouldn't take much longer than 2 weeks.
Until then we remain in beta (also our fees remain beta appropriate) and appreciate your patience.
As we value our users above all else, if at any point you wish to make a withdraw on a day that LTC is causing a loss in your portfolio, simply contact us and we'll discuss covering it with our own funds. Throughout the year though, we have not once ended up with a loss at the end of the month - just very short rough patches (lasting 1-2 days due to fluctuation of LTC).
Also we want to let everyone know that looking at the platform, all our users have profit again as LTC is stabilized. This is a screenshot of our testing account with deposit from about 2 months ago.
https://i.imgur.com/7u87SN3.pngHopefully we clarified it for you and if you ever need our prompt reply or explanation, feel free to contact us at
info@bitllama.com and we'll get back to you much faster than on the forum
