Yeah, I really don't have a problem with what Coinbase did/had to do. Congrats to you, that you were in a position to make money on the situation.

What does bother me, is my email to support was answered with a half-truth reply. Don't they know the truth will set you free? I would have much more satisfied with the publicly released explanation...

"Hello and thank you for contacting Coinbase support!

 Our price is based on both our own internal pending orders from users buying and selling on Coinbase as well a weighted average price on several different bitcoin exchanges. So the price on Coinbase may differ from one particular bitcoin exchange but is correlated to the price on any major bitcoin exchange in the long term.

 I hope this answers your question!"

Yeah, they're saying they base their prices on orders on there own site, plus current prices on un-named exchanges. Most of the data for buys and sells on their site are hidden or obsured in low resolution charts. Doesn't this look wrong? lol

http://i.imgur.com/tQwMIfB.jpg

I've been on coinbase for a while, and up till now, they've pretty much been in lock-step with Bitstamp for current buy prices. Suddenly they're asking about + $30 per coin compared to Bitstamp and Bitpay BBB prices.

When the price was at 690 on Bitstamp and I was considering buying another coin or two, Coinbase was asking 720. Then about an hour into that, there was a huge buy on Bitstamp, and suddenly the Bitstamp prices 'was actually' 720.  Now the Bitstamp price around 718 and Coinbase is asking 748. Still a $30 dollar spread. What's up with that? They're very cagey for answering inquiries on how they set their price, giving vague answers and not aswering more pointed questions.

I guess I'm not really complaining if they're manipulating the market in the up direction. Though it would have been nice to pick up a coin or so at the actual low of 690 a few hours ago.

Not sure where you get that idea, or maybe I don't understand the definition, but from my perspective you can't be further from the truth.

Eh, I have no pony in this race, Energizer can defend, or not, that comment....


Here's my recent stats, been running for a couple days. I'm looking for 15%+ gains on the buy and sells. Pretty much just stuck in the doldrums , no big swings happening right now....

-----------------------[tradable amount]-----------------------
         tradable buy amount @ market price: 0.00000
        tradable sell amount @ market price: 0.00000
             tradable buy amount for orders: 0.00000
            tradable sell amount for orders: 0.00000
---------------------------------------------------------------
                [orders] 114  buy: 21  sell: 93
---------------------------------------------------------------
    [in] 17.66376 BTC [cost] 1885.33904 USD [avrPrice] 106.73486 USD
   [out] 10.45759 BTC [cost] 1228.47314 USD [avrPrice] 117.47192 USD
[Profit] 101.49823 USD [avarage BTC traded per mint] 0.00576 BTC
---------------------------------------------------------------

My Bad.

Thanks   

I don't know, I was sorta thinking everyone cares that market manipulation is the weak-link for btc destruction.

Let's be real, any-'ol billionaire can smash btc to the ground if they wake up in bad mood and decide they don't much like this whole bitcoin economy.
 



 

Yeah, I'm a newb, feel free to make fun of me and rip me limb to limb, no offence taken... 

Random thoughts vaguely related to the thread title...

It only takes a few million to make great swings in the market either way.

I'm thinking the whales are purposely stabilizing the price for a while to make it seem safe for more people to get into the game.

Next, hopefully they just run it back up, to hopefully the 150+ range with a hugh pump and dump. Though they might be cruel and dump it back down to 80 first, causing all the people who thought it had stabilized to panic sell so those evil bastards can scoop up more cheap coins, and go straight to the pump after that...     

You should ask the Energizer how much, he's free to set his own prices. Guessing it would not run on your Mac unless your running windoze emulator.

For me, it was plenty expensive, but I think I made the right choice. Bought it on high lucky profits, and not having a heart-attack anymore on huge market swings, just incremental profits instead...

And just to be clear, I'm not a shill for Energizer. I started by specifically searching for bot-traders on Google and ran across his announce here, from way back in March.

This part of his announcement below made it worth the money for me. I mean he's way ahead of my curve, maybe he's onto something...

"EnerBot is a modular/custom Mt.Gox trading bot. I've started developing EnerBot 18 months ago. During this period EnerBot used hundreds of different trading strategies until it matured and reached its final flexible/profitable trading algorithm, that I've been using privately for the last 6 months."

So far it's working for me. I took a week or so before I actually took the plunge to purchase. These things you never can tell, mostly just looked back on posts here long-time back from Energizer to feel comfortable he's not a scammer. I felt that most scammers don't take a year or so making posts that portray themselves as up-standing citizens, before they scam you...

I was right, Energizer is indeed an upstanding citizen and has a good product and good support after the sale. If you can afford it, I recommend it...    

It would still be your fault, not Enerbot's fault  if you lost money. Since all your buy/sell amounts, i.e cash/coins to risk, spreads of how far down you buy, how high you sell, percentage change between buys and sells, you choose all before you launch the bot. Then, if you made a bad choice you can always kill the bot placed buys and sells at anytime.

Sure it's a little bit different than if you 'predicted' last week that BTC would drop all the way to 91 or so and correctly placed your 5k buy order right there, then correctly predicted it would go as high as 124ish over the weekend and correctly placed your sell order there. For sure if you had a crystal ball like that, you should go with it, that's the way to make huge gains...

The above was sorta what I was trying to do, and mildly successful with huge gains and losses in-between, it's really hard on the heart and holding back on the panic button when the market takes big dives...

Trading with a bot like this, is a bit different, because you spread your bets over a much wider range incrementally based on your own inputs and % profit your looking for. Unless you never sleep, and are really fast to input your own buys and sells when the market takes great swings, there's no way you can keep up with pre-thought bot-trader strategy making money for you while you sleep if you set the spread correctly when you kicked it off...

You make money both ways up and down if you set your spreads right. It automagically sets new buys and sells based on your inputs. For each sell order if the market is moving up, it generates a new buy order to gain profit if the market takes a sudden dip. IE. if you sold .3 btc at 124 , depending on your input, maybe buys back at 115. That's a profit over doing nothing, you bought back a coin or fraction of, 9 bucks cheaper than you sold it for. Same thing for each coin you buy low, sets a sell price, so for those coin I just started picking up now at 102ish , selling starts when it gets back to 115...

If you cover a wide spread, it's a way to be making money in all the waves of buys and sells whether up or down. It's not the same as predicting the future and making that huge score when you bought huge at 65 a couple few weeks ago and sold at 160 or whatever. It's just a safe (depending on your inputs) way to be incrementally making smaller gains over-all, and not get blown outta the market with one bad decision or panic-sell....

    

  


 

  

UPDATE: Engerizer got me a new version on a Sunday night. Seems the previous version got Goxed by an api change. I'm a happy camper, more testing next week. I'll put a proper review in Energizer's announcement thread after I get a few more trading sessions in.... 

Good Morning California

That looks interesting, but Enerbot is a lot more trick than just trading on the moving averages. You can make money on all the waves in-between the moving average crosses. Well, at least while it was working....

Oh, and since I need to work up post count, and testing bot-traders anyway. Anybody else find anything that seems to be successful?

bot-trader from Energizer

https://bitcointalk.org/index.php?topic=148443.msg1575845#msg1575845


Apparently I can't post my results there yet , since I'm a newb. So I'll start here...

I was very pleased with how it worked and my first couple trading sessions. Here's my first 24 hour trading result...

-----------------------[tradable amount]-----------------------
         tradable buy amount @ market price: 0.00000
        tradable sell amount @ market price: 0.00000
             tradable buy amount for orders: 0.00000
            tradable sell amount for orders: 0.00000
---------------------------------------------------------------
                [orders] 201  buy: 52  sell: 149
---------------------------------------------------------------
    [in] 20.11859 BTC [cost] 2340.78166 USD [avrPrice] 116.34919 USD
   [out] 11.77121 BTC [cost] 1448.01156 USD [avrPrice] 123.01298 USD
[Profit] 65.47993 USD [avarage BTC traded per mint] 0.02483 BTC
---------------------------------------------------------------

I felt I was doing well on the second trading session, but ran into a bit of glitch and haven't been able to get it working again properly...

Currently testing out customer service, "after the sale". If there's any interest, I'll let you know how that works out, if it turns out to be good. If there's no interest, I'll still let you know how it works out, if it turns out to be bad....  

UPDATE: Engerizer got me a new version on a Sunday night. Seems the previous version got Goxed by an api change. I'm a happy camper, more testing next week. I'll put a proper review in Energizer's announcement thread after I get a few more trading sessions in....