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Different Request for Feedback
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Friends,
We have received another interesting suggestion. A couple of customers have suggested a bot that would be similar to Butter-Bot but which would trade stocks on sites like Bitfunder based on different analysis principles. It has been suggested to us that there is high volatility on these stock sites and that this would be a useful tool.
We would appreciate feedback on this idea as well, is a stock trading bot something that interests the majority? What kind of features would you like to see in such a bot?
Thank you.
Pablo.
Hi Pablo,
First, a great big thank you to you and your dev team. You folks have created a great product.
In regards to your request for feedback --- while an arbitrage bot could be very profitable, the issue that we face is the extraction of the funds to place them back into another exchange to permit the arbitrage to work. If we look at MTGOX for example, the time frame for withdrawing funds could be forever and recently there have been several posts about not being able to withdraw BTC's for a variety of reasons. The arbitrage bot would be an alert system and therefore the actual moving of BTC's and funds in an out of exchanges would be up to the customer (time consuming). The profits would also be eaten up (factoring in trading fees and other fees associated with the depositing of funds into financial entities to get the funds into a BTC exchange of course a great arbitrage spread could make up for that, but how often would those opportunities surface).
I believe that the best opportunity in terms of a money maker might be the 2nd suggestion ---- trading stocks on Bitfunder. There is a great deal of volatility on that exchange and the bot would function on that exchange, like the current Butterbot functions on a designated exchange. There won't be a need to move funds/BTC's in and out of an exchange to another exchange as in the arbitrage idea.
You know that I've always been asking you to create a bot to trade stocks on a financial exchange (DOW, Nasdaq, etc.) and a bot to trade on Bitfunder is an EXCELLENT start.
I'd would like to be your first customer for the
StockBotThanks and keep up the great work.