Learned Fortran on an old TI-99; forgot Fortran; learned to draw, paint, sculpt, and play violin; learned how to merge code and art, turned it into my UX/Front-end dev Frankenthing.
Well, to be fair, people who have analysed trading bots have something different to say. As it turns out, the vast majority of people using trading bots lose money, while a tiny handful who tweak their trading bots constantly actually make money.
There are also a growing number of places where trading bots are banned, esp. areas where someone has made money off trading. As it turns out, the people making money with trading bots often run multiple bots on multiple servers, with a few running entire facilities, which has led to excessive energy consumption. A trading bot facility in a small town can double or triple the power consumption of that town (apparently it's not just small towns anymore, according to the article I just found), and it's not the facility paying for it all; it's the residents. Higher power bills, higher taxes, and the extra pollution created by creating all that extra power has actually tanked more than one small town's economic stability.
On the surface, it sounds great, making money by doing basically nothing, but in truth it's more likely you'll lose money, and if by some miracle you do start making money, you'll probably be contributing to the decline of the economic and physical health of your community.
Nice post! But how many do you know who really make money with their own trading bot? ;)
I know a guy ๐
Well, to be fair, people who have analysed trading bots have something different to say. As it turns out, the vast majority of people using trading bots lose money, while a tiny handful who tweak their trading bots constantly actually make money.
There are also a growing number of places where trading bots are banned, esp. areas where someone has made money off trading. As it turns out, the people making money with trading bots often run multiple bots on multiple servers, with a few running entire facilities, which has led to excessive energy consumption. A trading bot facility in a small town can double or triple the power consumption of that town (apparently it's not just small towns anymore, according to the article I just found), and it's not the facility paying for it all; it's the residents. Higher power bills, higher taxes, and the extra pollution created by creating all that extra power has actually tanked more than one small town's economic stability.
On the surface, it sounds great, making money by doing basically nothing, but in truth it's more likely you'll lose money, and if by some miracle you do start making money, you'll probably be contributing to the decline of the economic and physical health of your community.
cnbc.com/2019/03/22/majority-of-bi...
vice.com/en_us/article/7xgzpy/cryp...
vice.com/en_us/article/zma4w3/quad...
Don't misunderstand; the idea of easy money is tempting (I'd considered it myself, once), but the reality is a sordid mess.