Why you can’t cash out part 1: Bitcoin’s “price” is largely fictional

Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by wegschmeiss on Monday December 18, 2017 @08:17AM (#15951380)

> Until then, party on

Indeed. Earlier this year, mid-summer, I got curious about all this, so I decided to start an experiment, uploaded $100 to an exchange and started trading and programming against their API. Today, I am running fully automated bots which are winning, got about $25k in exchanges and cashed out about $15 to my bank account (no problem cashing out btw). That's 40000% in 6 month.

So all of this is absolutely crazy. I don't believe this can go on forever. But until then, yes, party on.

(I am using a throwaway for this - not being any careful, moderators should be able to easily track my other account if they want. I just don't want to associate my other account with this post.)

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Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by ericcholis on Monday December 18, 2017 @08:49AM (#15951546)

Without knowing your algorithms, is Bitcoin's 2,000% increase this year a heavy factor in your "win" rate. Or, are you confident in your logic that you can grow with a slower market?

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Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by hellbanner on Monday December 18, 2017 @08:27AM (#15951427)

Care to share general outlines of how your bots work?

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Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by ceejayoz on Monday December 18, 2017 @09:36AM (#15951840)

"Buy Bitcoin, hold Bitcoin, buy some more Bitcoin."

It'll work until it suddenly doesn't.

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Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by dzjkb on Monday December 18, 2017 @09:23AM (#15951759)

I was thinking about doing something similar as an experiment, do you have any good resources to get started?

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