Damn trading bots

[haploid23]

I put in a single buy order on bitstamp and got flooded with micro-transactions. This is what happens when there are no temporary trading fees.

[joesmoe2012]

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

[grendel25]

Wow, look at how high the price was.  Think we'll ever see that again?

[freedomno1]

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

True enough but it does tend to create a lot of bloat
Just a bunch of the same order at tiny amounts filling the orderbook and what not

[ABitNut]

Wow, look at how high the price was.  Think we'll ever see that again?

I don't get your comment. The price right now is only about $10 away from the buy price. The price he bought at doesn't seem high compared to the current price at all!?

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

True enough but it does tend to create a lot of bloat
Just a bunch of the same order at tiny amounts filling the orderbook and what not

It would be nice if they could collapse all those tiny payments to an aggregate for the actual buy order. Just, you know, in case you don't want to see all that bloat but do want to see your buy order.

[freedomno1]

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

True enough but it does tend to create a lot of bloat
Just a bunch of the same order at tiny amounts filling the orderbook and what not

It would be nice if they could collapse all those tiny payments to an aggregate for the actual buy order. Just, you know, in case you don't want to see all that bloat but do want to see your buy order.

That would make a lot of sense they can put the order internally in their systems and have all those tiny amounts sum up into one larger amount
Example 1 BTC total would consist of all those 0.02's added together so people can see the real orderbook set at a different price.

[haploid23]

Yes, it's so hard to track your own trading when it's bloated with these transactions. They need to have options to display single trades you execute as an average rate, and sum of fiat and BTC.

No trading fee on bitstamp is only good for 1 more day.

[BootstrapCoinDev]

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

True enough but it does tend to create a lot of bloat
Just a bunch of the same order at tiny amounts filling the orderbook and what not

I've played with a micro roll bot in php; basically it makes orders on both sides looking for small profits per trade. It's not good when the market is moving too quickly, but does well when there's a trend with less extreme fluctuations.

[darkmind]

Bots don't necessarily make the market any less efficient though. Albeit a bit of a pain to easily analyze whats going on with all the random transactions.

True enough but it does tend to create a lot of bloat
Just a bunch of the same order at tiny amounts filling the orderbook and what not

I've played with a micro roll bot in php; basically it makes orders on both sides looking for small profits per trade. It's not good when the market is moving too quickly, but does well when there's a trend with less extreme fluctuations.

I made some bots in the past but got to the point that bots suck to make profit. bots are only useful for doing mass buys and mass sells, thats the only useful thing I think they offer

[1Referee]

I'm not sure if it is just 1 person or a group running these bots.

But these $5 $6 orders have been popping up and filling the orderbook for quite some time now.

Has not much to do with having zero fee's at the moment, they have been there also in 2014.

[CrackedLogic]

I'm not sure if it is just 1 person or a group running these bots.

But these $5 $6 orders have been popping up and filling the orderbook for quite some time now.

Has not much to do with having zero fee's at the moment, they have been there also in 2014.

It's most likely to be one person and if there is no trading fees at the time, more people will hope on the bot train.

[Nrcewker]

I check the time when this thread posted repeatedly, finally I understand the meaning

[haploid23]

I check the time when this thread posted repeatedly, finally I understand the meaning

In early January, Bitstamp lost 18,000 BTC, so they shut everything down for a couple days. When they went back online, they offered no trading fees for a while as an incentive to use their site again. No trading fees means you or a bot can take advantage of micro movements in the rates, hence more prone to a flood of micro transactions.

That's what prompted me to post the thread. Their fee structure is back again at this time. If you want no trading fees, look into btchina.

[Gebbit]

you might try gebbit.com there are no annoying bots there and the spread is tiny. The only bot which is allowed to operate has a deal with the site and must maintain a small spread. Also limit orders are not charged a fee.