Bot

[Newar]

Thank you for the explanation.

The biggest fee we have is moving USD around from exchange to exchange not the trading fees.

Why do you have to move the USD? If you'd convert to BTC and move those, then convert to USD at the other exchange, how much would we lose doing that? I understand the risk of the price moving in between the 6 confirmations, but surely it'd be less than a bank transfer?

Ack, I don't know, just really would like to see this going...

[Polvos]

So we have to choose one of the options you gave us?

[Sukrim]

Well, if you _really_ trust Goat, option 1 is of course the best. This might be best handled by opening (or reusing) a different asset and accepting shares from Tygrr.bot to be traded for these.

If you don't trust him, a loss of 10% or even less is not that tragic (depending on when you bought the bot bonds), so it would make sense to have option 1 opened for the people who trust Goat and the rest gets paid (let's say in the beginning of August) 0.9 or more (depending on Bitcoinica) BTC as dividend. Should Bitcoinica still be something that oyu might recover, he can keep the bonds outstanding to share holders, then when the bitcoinica money comes issue a final dividend, buy back for 1 Satoshi and close it down for good.

[Tachikoma]

If you want option two then you need to either trade me the shares for .9 BTC now or send me the shares and get put on a waiting list for .95 or whatever it is (based on bitcoinica giving us back our funds) when you want to cash out.

I would like to take the offer of 0.9 per share. How would I go about doing this?

[Philj]

I'll take the .9 per share now. Can I just PM you my address, or would you just look at who transferred the asset back to you then transfer the BTC to them using GLBSE?

[Polvos]

Add me to the .9 option too.

[lonelyminer (Peter Šurda)]

How long does the offer last for?

[EuSouBitcoin]

Arbitrage is a tough game. You need to be big, fast, have lots of money, and able to move money quickly. And picking up nickels in front of a moving steam roller is always dangerous.

[lonelyminer (Peter Šurda)]

I will make it clear when the offer is no longer good and give a weeks notice.

Thanks. Do you know if your (i.e. the bot's) Bitcoinica claim was assessed as accurate yet?

[Tachikoma]

Okay here are the maths...

7326 total shares sold minus 700 for bitcoinica = 6626 left for us to pay out.

6626 / 7326 = .9044499

I have placed a bid on GLBSE for 300 shares at that price. I will place more tomorrow (going to bed soon).

Keep in mind if bitcoincia pays us tomorrow there is no way I can send you back the extra .05 BTC. This donation will be put towards my losses if you want to do it this way.

Thank you.

Sold. Thanks for offering this solution. This was my favorite GLBSE bond and I'm sad to see it go. 

[redbeans2012]

Looks like my spidey senses have been off in the timing of my last few investments.  Lol

Oh well glad we could get out with a small loss and goat didnt disappear in cambodia

[Red Emerald]

Disappointing

[RaggedMonk]

The first is a non guaranteed bond paying back 1% of capital and 1% interest each week. This bond will last for 100 weeks. A large shareholder of 5000 plus shares already took this path.

Am I right in understanding the first option?  

Every week you receive 2% of remaining capital, and capital is decreased by 1%.

First week 0.02, second 0.0198, 0.0196...

My calculations show 0.5BTC in 30 weeks, 0.9 BTC in 61, and 1.26 in the full 100 weeks.  Did I get this right?

PS: Kudos, I think you are handling this very professionally.

[stochastic]

About 95% of the trading profit went to pay fees...

Did you not account for the fees when you ran the trading simulation before running the bot in the real world?

We suspect the intersango bot gets information from the intersango exchange before our bot. Also since they do not have to pay the fees (or at least one side) we are at a disadvantage.

Welcome to the world of unregulated exchanges.  Hopefully soon we can get a P2P exchange.

[likuidxd]

What of the dividend that was not paid while you withheld important financial information from your investors? Instead you held us all in suspense telling us you have important information to tell us.
You are welcome for the large negative interest group loan. Sorry it didn't work out. Glad to read you aren't blaming this on someone else.

I'll take the 0.9 BTC for my 30 some shares, I'll PM you the details later.

[redbeans2012]

325 more bids for shares are up at GLBSE for people wanting to get out of this at .09044499   I will keep placing them as they empty. Once Bitcoinica pays us back we will move that up to just over .95

@ Stochastic   We did account for the fees but we had massive up and down swings and the different exchanges were all over the place. There was a lot more money to be made. For whatever reason the market is much more sane/level and we suspect it will keep going this way. Our options were fold and take the hit or keep going with something we no longer had much faith with.

@ RaggedMonk  I have not worked it all out but looking at it very quickly I think you are right. Also thank you for your support.

@ Red Emerald   We very much agree


Thank you.

Maybe you're thinking too big, and should just stick to 2 exchanges or something.

[Seal]

Hey Chaang,

I've been following for a while with interest, I too am interested in all the bots out there. I'm not sure if intersango has their own arb bot. I suspect not as it is a conflict of interest (admittedly the only people who would know are the team members). There are a couple of scalping bots on intersango as there is effectively a 'liquidity rebate' which will give you a very low fee if you provide liquidity.

I believe they are performing whats known in the stock market as 'front running'. Its illegal on the real stock market, however its not hard to do in bitcoin as the gox price usually dictates the direction. Given the correct maths, its easy for them to scalp high volume at a small profit each time.

Good scalping will essentially help arb the market naturally.

I admire your efforts Chaang.

[lonelyminer (Peter Šurda)]

If I want to convert to the bond, how do I go about it?

[lonelyminer (Peter Šurda)]

Thanks for the prompt replies Goat.

[Newar]

Who's buying at 1.04 and 1.05?