Even if it means one person is taking the profits? At the moment there's 0 chance for anyone else to set a order that will actual buy or sell unless its at very thin margins in which the marketbot won't touch (for good reasons).
It is a free market and the bot runs the risk of a sell-off. A liquid market will always be better than an illiquid market in which you keep an asset of value 0 since you cannot sell it.
I agree with this in principal but the way it actually works adds very little liquidity because they undercut you by the smallest fraction possible, which in crypto can be .00000000001 on a $50 coin. So they can keep undercutting you and not move the price enough to even register in the way it displays. Meanwhile there's a 100% wide gap between the buy and sell price.
I have no problem with these bots in principle and would even like to design my own one day but the way they are now are super annoying and the liquidity benefit they add in this case is microscopic.
Even if it means one person is taking the profits? At the moment there's 0 chance for anyone else to set a order that will actual buy or sell unless its at very thin margins in which the marketbot won't touch (for good reasons).
Posted Using LeoFinance Beta
It is a free market and the bot runs the risk of a sell-off. A liquid market will always be better than an illiquid market in which you keep an asset of value 0 since you cannot sell it.
I agree with this in principal but the way it actually works adds very little liquidity because they undercut you by the smallest fraction possible, which in crypto can be .00000000001 on a $50 coin. So they can keep undercutting you and not move the price enough to even register in the way it displays. Meanwhile there's a 100% wide gap between the buy and sell price.
I have no problem with these bots in principle and would even like to design my own one day but the way they are now are super annoying and the liquidity benefit they add in this case is microscopic.