THELOGICALINDIAN - Meeting the aggregation for the aboriginal time
I met Oleg at the North American Bitcoin Conference (in Miami), who was apery BTC Robot. They were one of the abounding exhibitors. I was already in chase of a accepted BTC Robot, so I was blessed to see that this aggregation was there and I could absolutely allocution to someone. We agreed that Bitcoinist.net would try out their software and address a review.
It is not a scam
Let me affirm one absolutely important fact. BTC Robot (www.btcrobot.com) is NOT a scam. There is a absolute software abaft it.
BTC Robot Setup / Customer Service Experience
Shortly afterwards the appointment I got my authorization for the (recommended) Gold Plan, which is pre installed on their server and is accurate for one year. I created a new BTC-e annual (as advised) and put the anew created API from BTC-e in the bot settings panel. It was absolutely accessible and straightforward. I deposited 365$ on the annual and set the bot on average accident trading mode. The bot did not do any barter for 5 days, so I anticipation this could be the absolute befalling to analysis their chump service. I contacted them and abundant the problem. I was afflicted with the fast and advisory reply. They brash me to appeal a new API and alpha the accomplished action over. They additionally arrested my settings. Two canicule afterwards the new setup, the bot started trading.
Trading
On the aboriginal week, the bot absent 3$. There was not abundant trading activitiy on the aboriginal anniversary and the trading amounts were amid 0.01 BTC – 0.1 BTC. By the additional anniversary of alive trading the bot was loosing over 8$. The acumen I am autograph the losses in US Dollars is because the bot is advised to accomplish accumulation in USD. It will not accomplish you added BTC but it is meant to accomplish you added USD. This is absolutely the acumen why I deposited Dollars instead of BTC. (You can armamentarium the annual with BTC as well). On the additional anniversary the bot was loosing about 15$ from the antecedent 365$. I was acquisitive that it would change but it did not. I had no ambition to change the trading set up to low accident as the bot is absolutely abeyant in that approach and the accumulation is a lot beneath too. By the end of the aboriginal ages the absolute accident was 30$. I kept allegory the trading activities and I was abashed on what I saw. The apprentice bought BTC back it was aerial and awash back it was low. Basically it did the absolute adverse of what it should accept done. I am not a banal agent and not a big day or anniversary banker either, but if I see that the bill is in an uptrend I artlessly do not buy. Anyways, the additional ages was alike worse, as the losses accumulated to alike more. It has been over 2 ages back my bot is trading and the absolute accident amounts to 65.59$.
Explanation from the developers
I capital to apperceive the affidavit of the trading bot’s poor achievement and additionally accord a aftermost adventitious to the developer aggregation to explain what was activity on.
This is what I wrote them:
Here is their answer:
“Hi Mate,
We accept your concerns. In our defense, it was a difficult month.. due to MtGox’s collapse, the amount is still not activity able abundant and we were switching our allusive assay from mtgox to bitstamp, so there were some certain losses during the alteration period.”
After that bulletin 10 canicule passesd and the bot absent 17.27$…
Conclusion
BTCRobot is blaming the poor achievement on the MtGox collapse and the BTC price. If the MtGox collapse is messing up their assay to this extent, they should let both their absolute and new barter apperceive about it. I ability accept chock-full my bot to anticipate added losses. The BTC amount is not a accurate account at all as they claimed. The bot makes accumulation in $, as it is aiming to accumulate your funds in $ rather than in BTC. The appellation of this analysis is BTC Robot analysis Allotment 1, but the company’s achievement did not absolutely argue me to do allotment 2, so I ability save ourselves some money.
