Is there a bitcoin robot?

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Is there a bitcoin robot that can automatically trade bitcoin for USD?

I see that bitcoin rates fluctuate every day and has different rates at different exchanges, and it could be easily traded like other currencies.

So, is there a bitcoin robot, similar like forex robots?

Bitcoin Eric

Posted 2013-08-04T04:47:14.547

Reputation: 41

I found this http://www.minzie.com/Lazy/ is a opensource btc trade bot, currently for BitStamp only.

– None – 2013-08-05T18:17:17.660

Answers

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I tried writing one in 2011-12. I ended up doing a lot of volume, but I only broke even because of the commission. I generated a lot of money for Mt. Gox though!

In general, writing an automated trading program is always going to be a difficult task, because anyone who can write a superior program can cut into the profits of the inferior program, which leads to a development arms race. This is what some hedge funds do (not with Bitcoins), but any models they develop are only expected to make money for a short amount of time.

Even if someone released a high-quality open-source program, it would be difficult to make money by using it because so many people would run it.

paulkernfeld

Posted 2013-08-04T04:47:14.547

Reputation: 171