Alt coin bot trading as well as manual trading and arbitrage
Would love to see feedback on the idea, pro con and neutral. Please share how you feel about it ?
BurgerBaron last edited by BurgerBaron
pro: It will diversify the supply of the asset exchange
Any other feedback ?
Dario's wallet last edited by
@tomahawkeer pro: it will increase the buy pressure on burst, because of the dividends
FrilledShark last edited by FrilledShark
Cons: Altcoin trading requires experience and won't be able to bring in any notable amount every month, but the amount is only notable over periodes of 6 months or longer.
Cons: An altcoin trading bot adds another point of failure and most good bots requires either: Monthly cost in form of rent or high starting cost + running cost of the bot. (Raspberry pi is always a good option almost eliminating the running cost)
Cons: Arbitrage takes a lot of time and isn't very profitable because it isn't a new idea.
Pros: If you wait and do arbitrage between any 3'third party exchange and the upcoming decentralized Burst exchange you might be able to help the community and earn a few bucks while doing it.
I don't wanna be a gamestopper, because owning an asset gives a lot of experience and knowledge about how it works, but just keep in mind all the cons and see if you are able to overcome them.
@FrilledShark Thats exactly what I wanted to hear. While I don't have a lot of experience trading, what I have found is that I can turn profits every month, normally ranging from 5-15%, and have actually done so ever since getting involved in alts late last year.
I have also become well versed with a couple of bots that are on the market that help me make the profits, however, my issue that im struggling with, is that I am fine if I were to lose my money, but I would be hugely pissed if I took a chance with the communities money and lost a large amount of it.
I believe I am going to kill the idea, for now and spend a little more time focusing on researching more staking coins for a new staking asset, and / or add to the existing asset. More than likely something new. Bottom line for me is to try to get more future buy pressure for BURST.
Thank you to everyone for the feedback and votes.