cointelegraph.com
>“I believe Poloniex and Bittrex both have a ton of internal trading bots that are monitoring people's trades, and due to a massive bot reaction, the entire market saw a decline,” he says.
T.hanks Poloniex and Bittrex Bots
Jason Jenkins
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Jaxon Nguyen
>believe
So not a shred of evidence.
Jordan Rogers
not true. there's actually been evidence of bots manipulating the market recently. ofc you'd know this if you didn't have your head up your ass
Thomas Reed
doesnt mean it doesnt happen. none of the exchanges are regulated so they can literally do whatever the fuck they want.
Blake Russell
(start at 3:50)
youtu.be
Wyatt Moore
my bots are good boys
my bot dindu nuffin
Asher Miller
you are human and smarter . why scare bots ? are you snails ?
Landon Gray
Those bots can be identified this way.
You see low volume buys so for example 12 coins buys or 8 or 16, really low. say at 200 sats in a coin. when you place a buy order at 201 sats for the same coin with say 300 coins that you want to buy, the bot immediately places another low buy order just 1 or 2 sats above your buy order. They do this until a certain price. Same goes for when you want to sell your coins, bot auto places sell order immediately 1 or 2 sats below your sell order.
This needs to stop cause it is screwing up everybody.
Landon Reed
All bankers need to do is, buy everytime someone is selling undervalue coin, when they have complete control over the market then they crash it
muh bankerless crypto is to susceptible to bots and bankers. They can crash this plane without survivors anytime they like once they hold a fair amout of market share
they are doing it now and crypto is ded
Robert Morris
Keep in mind that ANYONE can write a bot, and the whole trade history is visible to anyone
Jace Robinson
What I mean is there's no point in an "internal" bot because all trade data is already public. It's not exclusive. What an internal bot could do is monitoring people's deposits, though.
Nolan Ward
that's probably just a market making algorithm. As anyone else I don't if there's any insider trading but the prices downfall is not too strange given the circumstances, it's stanger the sudden increase a few months ago
Eli Garcia
>its a "the market is being manipulated by buying and selling" episode
hurr durr
Matthew Brooks
Bots make sense, but then the guy goes on to argue anyone concerned about government involvement is a black marketer.
You have to be living under a rock to be unaware of the historically low levels of institutional trust these days, and cryptocurrency is bound to have larger representations of these people.
Jayden Cox
>ANYONE can write a bot
This. You can make a bot by just copy-pasting shit from google in couple of days, even if you are a turbo retard.
Jacob Bell
obviously having bots is fine but internal trading is a whole different issue since they can make coins out of nothing
Jackson Baker
What you call internal trading is really just market making. And are those orders posted by the exchange? It literally doesn't matter. Maker orders for traders with high trade volume are completely free.
We don't need less bots. We need more of them, especially market making bots so the exchange can be more liquid. Don't come cry me a river if you can't "beat the bot". The API is public and anyone can use it. You got owned in a free market fair and square.
Aiden Carter
Stock market and forex is also shit full of bots an HFT. Doesn't matter.
Brandon Watson
True fucking that!!! I place an order at Lets say 200sat and literaly 0.1s after me theres a 201sat order!
Connor Davis
I know that bots are jewy and ruin it some time specially the arbitrage bots with huge sell and buy walls that move all time as seen with Monacoin on bittrex.
But then, I don't think anything should be done against them. They aren't cheating the exchanges or breaking any rules other than being a bot.
Thomas Scott
If the manipulators are just third-party actors like you and me, there's nothing wrong with that, it's part of the game
If a major exchange creates fake coins on its balance, it's much more serious. But they have to be really dumb to do that.
Evan Butler
Those are just third-party bots
Checking the price, cancelling and re-submitting orders is done very easily through API provided by every exchange.