the Hive pump & dumps are honestly just a nightmare. Probably scaring away quite a few. The only solution I see is that we all move to South Korea and apply for citizenship there so we can trade on Upbit and move Hive off of there :/
the Hive pump & dumps are honestly just a nightmare. Probably scaring away quite a few. The only solution I see is that we all move to South Korea and apply for citizenship there so we can trade on Upbit and move Hive off of there :/
Ha well if more people simply had steady hands and were willing to dump into the pumps and defend obvious support lines we'd be just fine. Surprisingly few actually do this. No matter how much number pumps most will want it to pump more. When people do end up finally selling it's not to defend a support line but to cash out and actually buy something.
Creating a market-making trading bot that anyone could use would be a good start, but no one has a financial incentive to build such a thing because they'd be inviting competition in to nerf their own gains.
good point, and yes it's definitely market psychology at play which is super hard to overcome.
that's super interesting. Not sure how to solve the problem underlying it
Could be developed by a bad-ass open source dev or simply funded by the @hive.fund out of pocket.
Honestly bots like this already exist as Hive already has market makers.
The trick is watering one down for mass consumption.
It would also be possible to do a lot of this on the internal market.
I've always thought the idea of Swarm Intelligence (perhaps even paired with AI) would work.
At the end of the day it's simply a matter of consensus.
Where should we place bids and asks and for how much?
This is the only question that needs to be answered.
Users can place the orders themselves or with a super simple bot.
well we already know when these pumps happen: virtually all of them happen at 00 UTC.
We could then calculate the average of these pumps (a difference seems to be "mini" pumps with max 20% and the others big ones with 40%+) and place the sell order there, the rebuys are basically always at the start of the pumps. It actually seems very straightforward
Interesting conversation. An innovative way to dis-incentivise non value add extraction from the community. There is a good chance that trying this actually loses the ppl doing it profits when the issue is resolved, profits that ppl who didn’t contribute to the effort will gain. But the ppl contributing to such an effort would be well appreciated if it reduced incentives for pumps and drops that make the rest of the community loook like the play thing of a small faction of a community that has quite well isolated itself from the rest of the market… discuss further?
https://peakd.com/@edicted/venti-20-point-crypto-trading-system-explained
Ultimately what needs to happen is that I actually get to work and built the shit that I've been talking about for years. But honestly some of my ideas... like this one (Venti Trading System) get better and better as infrastructure improves.
I would have never dreamed of making such a thing using the Hive/HBD internal market back when I wrote this... but now it seems like the obvious thing to do because all the data is on-chain and the internal market actually has volume now.
I've been trying to get back into the grind and continue working on MySQL database but it's been damn near two years and I'm dreading how rusty I am. Perhaps I need to pay for an AI subscription that can bootstrap my coding ability. Is there one specifically for programming?
Are unaware that a layer two JavaScript smart contract system that could do this autonomously is about to be released?… I can t say much more, but all in good time
ChatGPT4 is what you need.
Swarm intelligence will be good, many will be able to learn and if it works in keeping hive price healthy then by all means bring it on.