Intro and a few noob questions

[cryptologist]

Hello I am new to the forum this is my first post.
Relatively new to the crypto world in general. Came across Gunbot from web research which eventually led me here.

So far I am quite intrigued by Gunbot and seriously thinking of getting it but just had a few questions first.

1. The general consensus seems to be roughly 10-30% monthly profit, if this is correct, what is the motivation for people selling their licenses?
2. Is buying a used Poloniex license (for example) any different than buying a brand new one? I mean are they 100% transferable?
3. Do we know of any plans for a Mac GUI? I'm really not into command line stuff if I can help it.

Thanks!

[xgast]

1. Some people need at lease 200% per month, so maybe he is not satisfied...

[cryptologist]

So if that's the case then why does he buy a bot that only produces 30% on a good day??

[sylance]

What you get out of Gunbot is what you put in.  Also, it's not perfect, there are some minor bugs that you have to work around, but all this is easily avoidable with some work and attention to detail.  Also, the bot can't predict (no one can) radical swings in the market like what happened when China banned ICO's.  My bot was running over night and bought a bunch of falling knives and when I woke up in the morning I had a wallet full of loses.  That said, the market recovered over the next two days, so did my bot, and so did my profits.

However... some people don't have the patience for that and end up selling their license.  Also, don't expect 2% gains a day consistently and on your entire portfolio.  Your bot will make gains on what you give it, but it may not use your entire balance.  I'm running with about 25-pairs on a conservative strategy and my bot is typically using only about 1/4 of my BTC balance at any given time.

[cryptologist]

What you get out of Gunbot is what you put in.  Also, it's not perfect, there are some minor bugs that you have to work around, but all this is easily avoidable with some work and attention to detail.  Also, the bot can't predict (no one can) radical swings in the market like what happened when China banned ICO's.  My bot was running over night and bought a bunch of falling knives and when I woke up in the morning I had a wallet full of loses.  That said, the market recovered over the next two days, so did my bot, and so did my profits.

However... some people don't have the patience for that and end up selling their license.  Also, don't expect 2% gains a day consistently and on your entire portfolio.  Your bot will make gains on what you give it, but it may not use your entire balance.  I'm running with about 25-pairs on a conservative strategy and my bot is typically using only about 1/4 of my BTC balance at any given time.

This is actually quite helpful. Thank you. I was starting to wonder if the reason people are selling their license is because of a lackluster support community. Do you mind me asking what is your average monthly return using your current config.? Also, are you running multiple exchanges? I'm still very skeptical. I was going to buy  a used Poloniex license until I had a friend not get his withdrawl from them recently. Googling "Poloniex withdrawl problems" brings back a staggering amount of results. I'm afraid to try looking up Bittrex the same way.

[mos87]

Hi, I did ~10 withdrawals from bittrex in last month, and not a single problem.
Cheers

[sylance]

I can't speak for Poloniex.  I've seen numerous threads in Bitcointalk about Poloniex issues but I've yet to encounter them.  That being said, I did eventually move all my coins to Bittrex because of these same issues.  It's a shame because I prefer Poloniex's UI and manual trading features more than Bittrex.

I'm still a newbie when it comes to Gunbot, I've been running for about 2-weeks and tracking my Bittrex balance at the end of the day.  Some days are positive, some days are negative but the trend is about 1-2% profit a day.

My suggestion for you since you're new to crypto would be to hang out in Bitcointalk.com for a few weeks, manually trade on an exchange during that time using Gunthar's Bollinger Band trading strategy here: https://bitcointalk.org/index.php?topic=1715214.0;topicseen, and generally immerse yourself in crypto.  Setting up and managing the bot isn't difficult, but if you're trying to do that while also learning trading basics, and learning crypto then I don't think you'd be successful.  It'd also prove to yourself that you're serious about all this.  If after two-weeks you're not interested in it then you just save yourself the cost of a license.

Then... if all is good then hit up a reseller and purchase a license!  If you use the ones in here you'll typically get it 10% off and they help you get setup and running.

[arnthorsnaer]

"1. The general consensus seems to be roughly 10-30% monthly profit"

I've never seen anyone talk about profit % here, can anyone point me in the right direction?

[cryptologist]

"1. The general consensus seems to be roughly 10-30% monthly profit"

I've never seen anyone talk about profit % here, can anyone point me in the right direction?

Perhaps nobody here wants to reveal their earnings or settings etc.. Go to youtube. You will see many gunbot users talking about (and showing) percentages.

It would seem that with the correct settings, a person should be getting at least 1% profit daily on average. 1% x 30 days = 30% monthly.
If you're not averaging at least 1% daily, you might start asking yourself what's the point?

[BurnData]

With 100% reinvestment 1% per day for 30 days is 34.77%
With 100% reinvestment 1% per day for 365 days is 3,678%
With 100% reinvestment 1% per day for 730 days is 142,659%

If you invest $1000 and get a true 1% return per day and you let it reinvest and compound you will be a millionaire in about 695 days (perfect scenario of course)

Compound interest builds fortunes!

If the Gunbot can really do this its a millionaire making machine and I think I'm going to give it a shot.

[Aitor]

1. The general consensus seems to be roughly 10-30% monthly profit, if this is correct, what is the motivation for people selling their licenses?

Some people purchases the bot to someone how doesn't know how to use the bot, or just someone to doesn't help him. So when this happens, usually it's hard to get profit if no one helps you with the config, installation, pair list, tricks etc...

2. Is buying a used Poloniex license (for example) any different than buying a brand new one? I mean are they 100% transferable?
Thanks!

If you purchase a second hand license you have to be careful, there are many scammers out there. On the other hand, if you are lucky and you get a real second hand license, the guy who is selling it, is doing it because he has no clue on how to use the bot, so don't expect any kind of support and help.

3. Do we know of any plans for a Mac GUI? I'm really not into command line stuff if I can help it.

v5.0.5 will include GUI, but as far as I know, only for Windows.