Post
Topic
Board Micro Earnings
Re: FaucetHUB.io - Micro-cache/Mini-exchange, Bitcoin & Alt-coins.
by
fragilefungi
on 10/06/2017, 20:50:50 UTC
You could probably write an api that automatically buys coins on poloniex at the current price and then sends BTC back with the daily payment.  As long as more people want to use their 50k sats from pokebits to buy dogecoin then are selling, someone is going to have to arbitrage.  If it isn't you, orders are going to sit around until the coinmarket cap price goes up.

I made a comment about the fee for cancelled orders in the trollbox and feel I was misunderstood.  I want faucethub to collect fees.  I just don't think that the cancelled order fee maximizes the total fees collected.  Just like every other economic decision, there is an opportunity cost of lost profits somewhere else.  More fees are collected from a completed trade then a cancelled trade.  The cancel order fee discourages people from placing large buy orders because of the possibility that it won't fill in a reasonable amount of time.  Because fees are collected from both buyer and seller, each of these discouraged trades would have generated more fees if they were filled then if they were placed and then cancelled.