never forget to only play with what you're willing to lose
Ask HN: What is a good way to get into trading cryptocurrency as a developer?
11–18 of 18 posts
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#12Earlier quoted context omitted.
Why? If cryptocurrencies have value, the value will likely increase in the future. So why not buy?
> If cryptocurrencies have value, the value will likely increase in the future. That's not axiomatic. You really want to do more to prove this is indeed the case.
As long as there is a limited supply, speculators and draconian governments and crime it'll keep going up. I'll bet it'll keep going up.
Threats are hacks, quantum computers and crypto currency competition.
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#13I'm assuming you're talking about algorithmic cryptotrading here since you'd like to utilize your CS skills. No need to inform you that trading by bots is extremely risky, i'm sure you already know it. Well here you go: Grab some foreknowledge of cryptocurriencies from https://github.com/Xel/Blockchain-stuff . Sound knowledge of Quant,Stats and Economics in general . Also grab the Black Swan by Nassim Taleb if you ca…
Can you suggest some good telegram chats?
Bitstash chat is a small community, but incredibly helpful
WhaleClubBTC
ICOcountdown - If you're into pump and dump for quick money. This is heartless way of making money IMO
TheCoinFarm
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#14Earlier quoted context omitted.
> If cryptocurrencies have value, the value will likely increase in the future. That's not axiomatic. You really want to do more to prove this is indeed the case.
As long as there is a limited supply, speculators and draconian governments and crime it'll keep going up. I'll bet it'll keep going up. Threats are hacks, quantum computers and crypto currency competition.
Are quantum computers really a threat? If there was some massive takeover by quantum computers, wouldn't the network operators notice, pause and fork?
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#15You absolutely can make money with bots in cryptocurrency - there are times when different exchanges have $100 differences in the price of bitcoin. During times of volatility you can have bots making money off arbitrage.
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#16I found Cryptotrader [1] interesting years ago, & found myself wishing I knew how to code so I could get in on maybe making some money there.
Was using a minimal bot that came as a Chrome extension called "Butter-Bot", but it stopped working right after that one Thanksgiving when it broke $1k- when the market started going sideways. The developer was building a newer version called "Butter-X", which looked promising, but was never completed after money ran out.
[1]
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#17You absolutely can make money with bots in cryptocurrency - there are times when different exchanges have $100 differences in the price of bitcoin. During times of volatility you can have bots making money off arbitrage.
At least circa whenever it was that BTC broke $100, the state of exchanges' APIs was such that arbitrage wasn't practical. I remember reading about it on an old bitcointalk.org thread when the Butter-Bot developers were soliciting feedback regarding what direction their paid customer base wanted them to go.
The only working arbitrage software I ever saw was this short-lived one with a circular UI (IIRC), & it wasn't fully automated.
I'd be interested to learn the current state of affairs on the subject.
Re: Ask HN: What is a good way to get into trading cryptocurrency as a developer?
#18You absolutely can make money with bots in cryptocurrency - there are times when different exchanges have $100 differences in the price of bitcoin. During times of volatility you can have bots making money off arbitrage.
It's not really pure arbitrage when the prices are so volatile and every transaction takes ~30 minutes to confirm. I'd say he's going to have better luck with smaller crypto trading pairs.