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    [Daily Discussion] - Monday, May 31, 2021 Bitcoin Markets

    May 31, 2021

    [Daily Discussion] - Monday, May 31, 2021 Bitcoin Markets

    [Daily Discussion] - Monday, May 31, 2021

    Posted: 30 May 2021 09:00 PM PDT

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    submitted by /u/AutoModerator
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    UK Police Raid Cannabis Farm, Find Illicit Bitcoin Miners

    Posted: 31 May 2021 02:27 AM PDT

    UK Police raided an alleged cannabis farm in the West Midlands recently, expecting to find drug dealers and heavy stoners. Instead, they stumbled upon computer geniuses secretly mining Bitcoin. https://coinquora.com/uk-police-raid-cannabis-farm-find-illicit-bitcoin-miners/

    submitted by /u/CorrineSomers
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    Where does the profit come from when a perp future is closed?

    Posted: 30 May 2021 01:32 PM PDT

    If I guess right with 1,000 Lots ($1,000) at 100x, watch it run for 10%, and then sell it. My account value goes up $10,000 (bitcoin or stable equivalent). Where does the $10,000 come from? $1,000 might come from the buyers of the 1,000 lots but where does the other $9,000 come from?

    Brokerages might have different products. The one I am familiar with seems to be a simple ledger with no underlying instrument that has value to generate the extra account value. It seems that I would be paid from other customer's liquidations or losses.

    When I sell at a loss, the buyer pays the flat lot rate ($1,000) and I get less than what I put in (assuming I don't liquidate). I know that a small percentage of futures traders make any long term profit. If 90% lose then maybe it can support the other 10%.

    If that is the situation, what happens if a group gets very lucky? 10,000,000 lots at 100x just as a dump program is started. When it's closed out 10% later, where did the $100,000,000 profit come from?

    submitted by /u/CapeCoralHobo
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    Can anyone give me input/advice on the different/best Bitcoin/crypto trading bots out there, the different coins they can trade, and some different possible strategies?

    Posted: 30 May 2021 05:18 PM PDT

    This may be the wrong subreddit for this question, so I apologize in advance if I'm in the wrong place, but the subreddit name seemed logical.

    I do some investing on the side and occasionally day trade. I wanted to get more into crypto besides just buying and holding. Day trading crypto doesn't seem super complicated as compared to trading options, there's just not as many moving parts. I know how volatile crypto markets are so I see this as an opportunity to really just trade on the price swings and build up the amount of coins I have over time.

    I really don't have the time during the day to sit and watch the price movement of crypto to get in and out of the market. I heard of crypto trading bots before but I don't know much about them. I'll begin doing my own due diligence on bots after I'm done this post but I figured I'd ask the good ole reddit community for input since everyone knows this is where you find out the real info your looking for from experienced users.

    When it comes to programming, I'm a beginner. I've only been working on learning C++ and I'm only 4 chapters in on my textbook teaching myself. These are kind of the parameters I am looking to fulfill:

    1. Ease of Use: Preferably a bot that that had an easy to use UI that required the most minimal-none coding to program it.
    2. Exchange: I typically use Coinbase, but the required exchange doesn't matter to me. If it can trade on multiple exchange that would be even more ideal because then I could try to arbitrage.
    3. Coin Traded: I would like a bot that was not restricted solely to Bitcoin. I haven't made a solid decision on which coin I would like to trade and may even end up trading multiple coins. I would prefer a coin with a low $/coin cost so that I am able to acquire more coins for my $ and also be able to start with a larger sum to be able to grow faster.
    4. Cost: If I could find a free to use bot, that would be dope. But if I have to pay for one, I don't mind. Something cost effective would be preferred, but I would rather pay more for a more effective bot.

    5. Strategy: I would prefer a bot that could do all of the following, but if one doesn't exist, I would like to know what the options are for each strategy.

      1. First: I'm trying to trade on small swings in price fluctuations, maybe start with 0.5%, then try 1%, then 1.5%, then 2%, same all the way up to 5%. I want to see which price movement to trade would be most profitable. Obviously a smaller % trade doesn't make as much money, but those swings are more likely to occur more often so it may add up to more coins being acquired in the long run than trying to get bigger % swings less often in the short run.
      2. Second: I want to try and day trade multiple different % fluctuations at once. So I would like a bot where I can run multiple instances of it at once, like opening several tabs in a browser. If this is not possible I'll probably just use multiple different bots at the same time. But if anyone knows how it works, I'd love your input.
      3. Third: I want to try to get into arbitraging. I don't know much about how that works, but I think it may be possible, correct me if I'm wrong.
      4. Fourth: After seeing which strategy is more lucrative, I would like to try a combination of both day trading price fluctuations (single and multiple instances) and also arbitraging at the same time.
      5. Fifth: These are the only strategies that I know of, so if anyone has any other strategies that are possible, I'd love to hear from you on what your play is.

    Any input/advice from ya'll on the bots that are out there and any that fulfill all/any of my needs would be greatly appreciated.

    If anyone currently uses bots to trade, I'd like to hear from you on what is useful to know when getting into this, what coins are the best to trade, what strategies seem to work the best, and any other insight you can give to someone.

    Thank you in advance for everyone that gives me some feedback.

    Cheers!

    submitted by /u/BullMarketCowboy
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