bitRage is the new kid of our family: it was born officially 140 builds ago in a very strict beta room that I sincerely thank you! I'm very happy of the product we have right now, eventho it is not ready to be published yet. Let's see why and when.
1.- the actual bitRage is far from the original one I've ran and test in my very own experimental dev box: one thing is trying arbitrage alone in the deepest dark of myself alone against the exchanges, a different thing is running and testing it togheter with 100 of my best beta testers. This is the main reason why I knew (and I confirm) that bitRage will NOT be distributed to more than an average of 50 users per each exchange. As I keep adding supported exchanges, I will distribute to more people.
Why bitRage cant flood the markets tho? Many reasons, the most important we observed during the beta sessions are:
- because the more people acting against a spread, the more the spread wides open, and that's not healthy for arbitrage opportunities
- because exchanges charge fees in quote currency and they use that balance to level up spreads
All things we have sorted out in the actual bitRage that weren't sorted out in my original product!
2.- the actual bitRage is one of the best pieces of software in terms of driven intelligence: if you look around for arbitrage software you will just see one single line. Compare prices and fire up trades: this is exactly what will lead to the flat market I've described in point 1. Just do this: go download any arbitrage bot from GitHub and test it by yourself, you will find zero opportunities. The actual process we refined in bitRage, goes tru all of that and uses its own data to actually "create" arbitrage opportunities in those markets that are not spontaneously generated. How? We analyze the entire market and its own arbitrage possibilities with both tri- and quad- possible combination. If arbitrage opportunities are present we take advantage immediately of them. If arbitrage opportunities are not present we start to calculate prices inside the spread that would create those opportunities and start to act as market makers: the market reacts pretty fast to that and then they have one possibility only, to follow and serve our limit orders!
This is a technique I have implemented in an hidden feature of Gunbot reserved to a very strict beta testers: the Gunbot Market Makers bot, that will be distributed soon(TM) to the public.
3.- Presenting this in a nicely laid GUI was our next goal: as always our beloved Yashie gave us his arts and created a GUI for us that is actually going to help for pair filtering based on a lot of parameters like volume, variance and so on. Thanks again Yashie!
4.- We observed a lot of bitRage technology can be ported back to Gunbot: I'm merging all of those candies and both Gunbot and bitRage will contribute to each one development as we fix and implement things.
5.- We observed that bitRage can use Gunbot trades and balances to actually handle bags and burn them with arbitrage opportunities: one of my active branch is to merge Gunbot and bitRage in the same product and make Gunbot listen to bitRage activity and vice versa.
Said this, what is the very near future about it:
1.- bitRage will be available to purchase only with GUNTHY tokens: get a good reserve now that they are cheap because as soon as I open the gates, you won't find cheap tokens to buy bitRage anymore
2.- there are actually some of you that have pre-ordered bitRage in the past with some deals with resellers: despite I was not happy about it, I will honor what my resellers promised to you and distribute bitRage to you in a special room I have already created and invited you in. ETA: 2 weeks by now. Why 2 more weeks? Because you know me enough, I need to feel extremely comfortable with my code and know 200% it wont harm your money: there are some things we are still nailing down in beta room that I want to verify in different market conditions. Please be patient and thank you
What else to say: the final envision is to have one big product that integrates Gunbot, bitRage and Market Maker bot in one single GUI and uses the different algorithm serving the user configurations. A native backtesting tool will complete the beast and I've already started to implement it. All of this needs patience guys, intelligence and support from all of you: my codevs and myself are constantly listening to beta testers suggestions and feedback and despite I'm often a brat, they dont get impressed at all and keep bugging until they succeed to achieve our common target. We aim to build the perfect money machine...and we dont give up!
Feel free to comment and give me your opinions, suggestions, insults if needed, I'll leave this topic open.
Thank you.
~Gun
