The Good, the Bad and the Ugly -- a Day as a STEEMIT Market Maker by jasonmcz

View this thread on: hive.blog | peakd.com | ecency.com

market · @jasonmcz · Jul 18 '16 (edited)

$6,710.80

The Good, the Bad and the Ugly -- a Day as a STEEMIT Market Maker

<html>
<h3><strong>Steemers!</strong><br>
</h3>
<p>It's @jasonmcz again form <a href="https://firstblood.io">Firstblood.io</a>! If you missed my self-introductory blog last time, here is a<br>
<a href="https://steemit.com/introduceyourself/@jasonmcz/hi-steem-i-am-a-young-and-hungry-entrepreneur-who-plays-saxophone-from-boston">link</a> to the post.</p>
<h2>The Beginning</h2>
<p>24 hours ago I was browsing the through some of posts about the <a href="https://steemit.com/steem/@blakemiles84/two-users-are-gaming-the-liquidity-reward-system-and-earning-1200-steem-per-hour">Steem Internal Market</a> posted by @blakemiles84, quickly learned that some whales / early players who are making the market are doing wash trades against themselves.</p>
<h2><strong>The fuck is Wash Trade?</strong></h2>
<p>For those of you who don't understand the concept of a wash trade, here is a <a href="https://en.wikipedia.org/wiki/Wash_trade">link</a> to the <a href="https://en.wikipedia.org/wiki/Wash_trade">wiki page</a> explaining the definition of a wash trade and why it is illegal. &nbsp;<br>
In short [<strong>wash trade</strong>] is a form of <a href="https://en.wikipedia.org/wiki/Market_manipulation">market manipulation</a> in which an investor simultaneously sells and buys the same <a href="https://en.wikipedia.org/wiki/Financial_instrument">financial instruments</a>. Why? For 3+1 reasons:<br>
<br>
1. inflate the volume<br>
2. commission fees rebate<br>
3. ping an instrument price onto the tape to cheat on derivative product settlements.<br>
4. some jurisdiction allows loss resulted from wash trades to be deducted from tax.</p>
<p>yeah but..<br>
<br>
In this case, the wash trade had a <em><strong>purpose</strong></em>, which is to game the liquidity reward.<br>
A reward totals 1,200 STEEM /hr or a dollar equivalent about $3720.00 /hr.</p>
<h2><strong>Last 24 hours</strong></h2>
<p>After reviewing all the archives on the topic of liquidity reward and internal market, I've decided to make market myself and see if I could take down those whales who are consistently getting those fat rewards.&nbsp;</p>
<p><br></p>
<p><img src="https://media.licdn.com/mpr/mpr/AAEAAQAAAAAAAALqAAAAJDJmY2Q0MTczLTIzNjctNDkxNi05Y2NkLWZjYTdjNWQ1M2E0OQ.jpg" width="522" height="299"/></p>
<p><br></p>
<p>some of those might think being a market maker needs a set up like this to watch the book, chart and signals..</p>
<p>But in reality, in this electronic trading world...Market making looks like this</p>
<p><br></p>
<p><img src="http://blog.addthiscdn.com/wp-content/uploads/2015/08/code-cleanup.png" width="900" height="450"/></p>
<p><br></p>
<p>You have elegant robots with just few dozen lines of code or a complicated system that has tens of thousands code and has the ability to learn from other peoples trades and its own mistakes.</p>
<h3><strong>Finding The APIs&nbsp;</strong></h3>
<p>Due to lack of documentation from Steemit official site about the internal exchange part forced me to look around for other solutions. Thanks to @Xeroc Fabian's <a href="https://steemit.com/steem/@xeroc/changelog-python-steem-0-2rc1">post</a>, I was able to set up something running really quickly with his steemit-python interface:</p>
<pre><code><strong>from</strong> <strong>pprint</strong> <strong>import</strong> pprint<br>
<strong>from</strong> <strong>steemexchange</strong> <strong>import</strong> SteemExchange<br>
<br>
<strong>class</strong> <strong>Config</strong>():<br>
 &nbsp;&nbsp;&nbsp;witness_url &nbsp;&nbsp;&nbsp;&nbsp;= "wss://this.piston.rocks/"<br>
 &nbsp;&nbsp;&nbsp;account &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;= "xeroc"<br>
 &nbsp;&nbsp;&nbsp;<em># Either provide a cli-wallet RPC</em><br>
 &nbsp;&nbsp;&nbsp;wallet_host &nbsp;&nbsp;&nbsp;&nbsp;= "localhost"<br>
 &nbsp;&nbsp;&nbsp;wallet_port &nbsp;&nbsp;&nbsp;&nbsp;= 8092<br>
 &nbsp;&nbsp;&nbsp;<em># or the (active) private key for your account</em><br>
 &nbsp;&nbsp;&nbsp;wif &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;= ""<br>
<br>
steem = SteemExchange(Config)<br>
pprint(steem.buy(10, "SBD", 100))<br>
pprint(steem.sell(10, "SBD", 100))<br>
pprint(steem.cancel("24432422"))<br>
pprint(steem.returnTicker())<br>
pprint(steem.return24Volume())<br>
pprint(steem.returnOrderBook(2))<br>
pprint(steem.ws.get_order_book(10, api="market_history"))<br>
pprint(steem.returnTradeHistory())<br>
pprint(steem.returnMarketHistoryBuckets())<br>
pprint(steem.returnMarketHistory(300))<br>
pprint(steem.get_lowest_ask())<br>
pprint(steem.get_higest_bid())<br>
pprint(steem.transfer(10, "SBD", "fabian", "foobar"))<br>
</code></pre>
<p>Setting something up isn't hard but winning that liquidity reward is insanely hard especially when you have few people who are already extremely well established with their book. I transferred some ETH via blocktrades to convert into my initial liquidity capital (STEEM).&nbsp;</p>
<p>I was pretty confident that I was going to score all the liquidity points by providing the tightest spread in the market.&nbsp;</p>
<p>Then I was <strong>WRONG</strong>.&nbsp;</p>
<pre><code>&nbsp;Algo_Bid: 3.239 x Algo_Ask: 3.2410000000000003&nbsp;</code></pre>
<p>Thanks to those well documented API. I was able to set up my robot and consistently provide a spread as low as $0.002, however providing the tightest spread doesn't mean anything and certainly doesn't earn me anything to the liquidity reward.<br>
</p>
<p><br>
<strong>But why is that?</strong></p>
<h2><strong>The 'A****' &nbsp;&amp; Nirvana/Ledzeppelin/thebeatles/thewho Clan</strong></h2>
<p><img src="http://i.imgur.com/FHmuAgc.png"/></p>
<p><br></p>
<blockquote>adeal, abit, alittle, aload, apiece, aton, afew -- the 'A' clan is controlled most likely (my speculation) by one person</blockquote>
<blockquote>Nirvana, theBeatles, the Ledzeppelin/thebeatles/thewho accounts are probably controlled by the same person as well</blockquote>
<p>It's strange and interesting &nbsp;at the same time to witness how the 'A' clan and the Nirvana clan were adjusting their trading strategies after the change to liquidity reward calculation in the last implementation.&nbsp;</p>
<p>[Now Liquidity Points are only applied to those open orders remains on the book for more than 30 minutes]</p>
<p>Now instead of wash trading every couple minute, they will place big wide orders on the order book with a huge spread. We that know with that $0.15 - 0.20 cents -- it is quite discouraging to people who want just to trade and with the less trades happening at the spread they are providing.<br>
<br>
They were able to utilize multiple accounts to wash trade every 30 minutes to take out the very liquidity they put on the book themselves.</p>
<p><em><strong>AHHHHH... THAT'S WHY I HAVE NO LIQUIDITY POINTS.</strong></em></p>
<p>Cuz my tight orders were eaten by them before they could hit the 30 minute mark, and it seems like the last thing they'd be concerned about is to provide orders with tight spread. Isn't this counter-intuitive in the way that encourages liquidity reward takers to place their bid/ask away from BBO?</p>
<h2><img src="http://i.imgur.com/5o9H0UT.png"/></h2>
<h2><strong>The Change of My Strategy</strong></h2>
<p>Knowing I have no chance to compete with whales on that fat check given by the network even tho the liquidity that I provide is obviously tighter than theirs. I've decided to change my strategy entirely. Instead of providing tightest liquidly on the market, I wrote a Robot that detects A clan and Nivara's orders.<br>
<br>
Robot will scan the orderbook and identify where the whales are and then place my orders one level above or below them so in order for them to wash trade they will have to eat the orderbook up from me first, but this time with bigger cost.&nbsp;</p>
<p>Now I am collecting few bucks on each trade they make! but HELLO??? Why are they collecting 1200.00 STEEM when I am real MM who's ACTUALLY providing order flow on top of the orderbook</p>
<h2><br>
<strong>The Conclusion</strong></h2>
<p>To be honest, as someone who has been prop trading for &nbsp;past 8 years on equities, derivatives and cryptos (on exchange) this strange structured liquidity reward thing is completely a new animal. I've never seen anything like this -- especially the part that all orders have to be on the book for ( 1minute before) 30 minutes. Perhaps @jl777 is right on his comments earlier or perhaps I just fail to see the bigger picture this time.<br>
<br>
I am not saying this is not doing its job but rather it's counter productive from making a liquid market for STEEM community. There is a reason why some exchanges let market makers compete on the order flow and get rebate (solely) on liquidity takers fees.&nbsp;Just my two cents.</p>
<p><br></p>
<p><img src="http://i.imgur.com/15h0DSB.jpg"/></p>
<p><br>
</p>
</html>

👍 berniesanders, dantheman, rainman, pharesim, steemit200, riverhead, enki, xeldal, witness.svk, kushed, au1nethyb1, complexring, badassmother, cryptoctopus, liondani, nanzo-scoop, joseph, masteryoda, xeroc, bitacer, anonymous, blakemiles84, boatymcboatface, cyber, theoretical, billbutler, stino-san, asmolokalo, pheonike, teamsteem, trogdor, kaylinart, svk, pairmike, lukestokes, nkdk, taoteh1221, bbqbear, silentpower, changby, johnsmith, eric-boucher, cdubendo, jchch, unosuke, hedge-x, knircky, jl777, chhaylin, thedashguy, jason, tinfoilfedora, scrawl, krypto, bittrex-bill, jacobt, miohtama, kevinpham20, pixellated, btcswag, hannixx42, fabio, himalayanguru, wesam, and 409 others
👎 nioctib

`author`	jasonmcz
`permlink`	the-good-the-bad-and-the-ugly-a-day-as-an-steemit-market-maker
`category`	market
`json_metadata`	{"tags":["market","steemit","liquidity-reward","market-making","firstblood-io"],"users":["jasonmcz","blakemiles84","jl777"],"image":["https://media.licdn.com/mpr/mpr/AAEAAQAAAAAAAALqAAAAJDJmY2Q0MTczLTIzNjctNDkxNi05Y2NkLWZjYTdjNWQ1M2E0OQ.jpg","http://blog.addthiscdn.com/wp-content/uploads/2015/08/code-cleanup.png","http://i.imgur.com/FHmuAgc.png","http://i.imgur.com/5o9H0UT.png","http://i.imgur.com/15h0DSB.jpg"],"links":["https://firstblood.io","https://steemit.com/introduceyourself/@jasonmcz/hi-steem-i-am-a-young-and-hungry-entrepreneur-who-plays-saxophone-from-boston","https://steemit.com/steem/@blakemiles84/two-users-are-gaming-the-liquidity-reward-system-and-earning-1200-steem-per-hour","https://en.wikipedia.org/wiki/Wash_trade","https://en.wikipedia.org/wiki/Market_manipulation","https://en.wikipedia.org/wiki/Financial_instrument","https://steemit.com/steem/@xeroc/changelog-python-steem-0-2rc1"]}
`created`	2016-07-17 23:22:00
`last_update`	2016-07-18 01:10:54
`depth`	0
`children`	54
`last_payout`	2016-08-23 14:44:18
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	5,839.444 HBD
`curator_payout_value`	871.351 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	8,835
`author_reputation`	15,125,782,224,192
`root_title`	"The Good, the Bad and the Ugly -- a Day as a STEEMIT Market Maker"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	155,509
`net_rshares`	132,833,274,878,638
`author_curate_reward`	""

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@anon.news · Jul 18 '16

This shit is like chess on a whole nother level. Love it

👍 satch

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
satch	0 B		90,750,069	100%

@ausbitbank · Jul 22 '16

$0.02

Great post, I'm uber jealous of your trading desk setup! I'm fascinated by these sort of closer looks at how these markets work behind the scenes, thank you for sharing details and code :)

👍 jasonmcz

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properties (23)vote details (1)

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@jasonmcz · Jul 22 '16

Thank you mate! Gonna do another one soon!

👍 ausbitbank

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properties (23)vote details (1)

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@bhokor · Jul 18 '16

Great post, it explain quite well how hard is the arbitrage in this markets, thank you for show us it with some deep

👍 jasonmcz, michaellamden68

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properties (23)vote details (2)

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michaellamden68	0 B		216,498,551	100%
jasonmcz	0 B		1,522,403,959	100%

@bjones · Jul 18 '16

See it's already paying off!

👍 michaellamden68

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properties (23)vote details (1)

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@blakemiles84 · Jul 18 '16

$0.51

Awesome writeup, @jasonmcz 

Learned a lot on this one. Thanks for the shout-out too. I only noticed those transactions because of @roelandp's stream website.

Lines of convergence :)

👍 blakemiles84, dwinblood, jasonmcz, dtsddace, mianeri

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@jasonmcz · Jul 19 '16

My pleasure man! It was your post that got me into market making at first place.

👍 jasonmcz

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properties (23)vote details (1)

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@blockchainbilly · Jul 18 '16

Bravo man.  It makes me mad to think I will never be able to earn a Liq.Reward.  because of those whale gaming the system.....  I'm glad you are not only shining a light on it but offering some insight as well...  They seriously need to fix this or take the reward away completely.......

properties (22)

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@blocktrades · Jul 19 '16 (edited)

I believe the plan is to eliminate the liquidity rewards soon (something I've been arguing for almost since they were introduced). If it turns out some form of liquidity reward is needed, it needs to be better thought out, and not so high.

properties (22)

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@coinhoarder · Jul 18 '16

$0.60

I proposed a solution, but it got very little love. Ironically the only whale that up voted it is the one getting a majority of the liquidity incentives (abit). LOL... https://steemit.com/sip/@coinhoarder/steem-proposal-abolishing-liquidity-incentives-and-reverting-the-funds-to-provide-actual-autonomous-liquidity

👍 theoretical, bittrex-bill, fabio, samether, arcurus, seanmchughart, methodise, stephencurry, dtsddace, anduweb, valencgarcia, me-tarzan, michaellamden68, ladeblah, mianeri

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valencgarcia	236,659,186	100%
mianeri	44,483,272	100%
stephencurry	3,717,699,207	100%
anduweb	468,003,122	100%
me-tarzan	234,695,415	100%
ladeblah	127,071,302	100%
arcurus	10,919,251,680	100%

@coinz · Jul 19 '16

I hope people don't go running to their nearest federal/government regulators and complain about "illegal" wash trades or whatever.  This is obviously an unregulated exchange and that is the whole point is it not?  Something about it being "trustless", one of those weird Bitcoin terms where the whole thing takes care of itself without outside interference.

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@capone · Jul 19 '16

Only patients get the victory in a three-day all this bad weather will go away, and only those who sold their coin would remember this time as a nightmare,

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@cousteau · Jul 18 '16

https://66.media.tumblr.com/8f02d2ebd5717041ae28a48196fc78cd/tumblr_n1mup6RgKY1scyl39o1_500.gif

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@discombobulated · Jul 18 '16

## Money fight!!
https://i.imgsafe.org/c59a528d8f.gif

👍 michaellamden68, davidr

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@domavila · Jul 17 '16

I am always down for the underdog to take out the whales!!

👍 jasonmcz, michaellamden68

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@dwinblood · Jul 19 '16

That is incredibly detailed and helpful.  As someone who has never looked into how any of this is done I found your post very informative!

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@flexcougar · Jul 18 '16

I only understand bits and pieces of the above, but what I gather, it is just one person providing liquidity, and getting then rewards for it?  If this is the case, isn't liquidity, liquidity?  If someone makes a better "engine" and then has the rewards, it is still liquidity right?  If the current rewarded makes a mistake, someone else will pick up the slack, or am I missing the point all together?

👍 michaellamden68, flexcougar

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@gainingsteem · Jul 18 '16 (edited)

$1.16

@jasonmcz I'd been wondering about all this. I'm so glad you shared this info with us. Thank you! We need more helpful posts like this one. Keep up the good work!

👍 piedpiper

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@gekko · Jul 18 '16

love the twelve monitors 8]

👍 jasonmcz, gekko, crazynotned

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@jasonmcz · Jul 19 '16

$0.03

@gekko, I actually have 3 monitors at home for my trading desk!

👍 jasonmcz, gekko

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@gekko · Jul 19 '16

me too, i need more 8]

👍 gekko, akareyon

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1 reply

@granblue · Jul 18 '16 (edited)

Wow, your article sure shine a light on trading  steem currency. Thanks for sharing!

👍 michaellamden68

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@jl777 · Jul 18 '16

I am correct on this
now i am being attacked by abit: https://steemit.com/hack/@jl777/i-am-being-attacked-on-liquidity-provider-points

👍 methodise, dwinblood

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@abit · Jul 18 '16

$0.08

Sure. You can attack back, then I'll have to enlarge the spread, then you'll earn spread from me.. happy end.

👍 bittrex-bill, methodise

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@jl777 · Jul 18 '16

you have far more capital than all the others combined and with 16+ accounts at the top of the the list, any stalemate in points will just get you automatically the hourly rewards

but I guess it is clear that your position is that anything within the rules is acceptable behavior, regardless of impact to the community. Thanks for clarifying that. I had mistaken you for someone who cared about the long term success of STEEM

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@knircky · Jul 18 '16 (edited)

$0.12

You know this site is still in beta. I'm sure getting these things solved is not simple.

Glad people are trying and battling with these guys. I think much bett than solving the issues via legal avenues is to build mechanics that can't be gamed.

Thank you for the entertaining post, explanations and your efforts.

👍 knircky, stephencurry, michaellamden68, johngalt, surf4life, brianreecegreen

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@liberosist · Jul 18 '16

Awesome post! 

That is an insane setup, by the way!

👍 michaellamden68

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@liondani · Jul 18 '16

Thanks for contributing to steemit. Keep giving liquidity... This post will help you further  ;)

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@lukestokes · Jul 18 '16

$0.56

Really glad to see this stuff getting attention.

To me, the whales who rule the waters need to be really, really careful. If they try to get too much out of the goose that lays the golden eggs, they'll kill it. This entire beta experiment relies on the perception of fairness. People are here because they believe it represents a peaceful revolution towards more freedom, in so many ways from expression to monetary policy. What we're seeing so far is discouraging to many as great content is missed and other content receives insane rewards. If the economics and exponential growth kick in so that no one can win unless the top of the food chain decrees it... well, that's not going to be good long term. The market maker part is just one side of it.

Thanks for talking about it.

👍 djleo, knircky, fabio, razvanelulmarin, judyhopps, mod-tamichh, arcurus, nineyards, bacchist, menta, trytobezen, seanmchughart, stephencurry, screasey, ghost26x, dwinblood, jasonmcz, anon.news, apocaloptimisto, cccmar71, ryvirath, dtbahoney, onthewayout, cousteau, mikegold10, me-tarzan, timer-the-teemer, valencgarcia, rongomaib, gerber, michaellamden68, davidr, jcweiss, ladeblah, borntowin, mxo8, joshuanboles, surf4life, crazynotned, brianreecegreen

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@jasonmcz · Jul 18 '16

$0.36

Well said @lukestokes,  I think most cryptocurrencies/projects always come down to the perception of freedom  and representation of something that's different which is why the community has its own unspoken rules such as no pre-mining, no pre-distribution of tokens  and etc. Whales accumulating liquidity reward by not even providing tight liquidity is something that would hurt the ecosystem in the long term especially for late-comers to come to realization that how 1% holds 99% of the STEEM (exaggeration here but you guys get my idea).

👍 lukestokes, fabio, mod-tamichh, arcurus, seanmchughart, stephencurry, jasonmcz, anon.news, apocaloptimisto, doctorstrange, onthewayout, shibley, gerber, michaellamden68, hmfoucault, ladeblah, crazynotned, brianreecegreen, mianeri

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@joshuanboles · Jul 19 '16

The lack of manipulation for this particular cryptocurrency being a social promotion environment with this platform is critical to the success long-term.

👍 seanmchughart, apocaloptimisto

properties (23)vote details (2)

@mikegold10 · Jul 18 '16 (edited)

I followed along with the whole article, but that dog pic at the end - those hypnotic doggie eyes - I just can't stop staring at them.

Now what were we talking about?

👍 mikegold10

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@luxiano-valdez · Jul 18 '16

This why I appreciate steemit,  where else would find a self-critical analytical honest post, that ultimaletly  helps improve its own system?

👍 methodise, jasonmcz, michaellamden68, davidr

properties (23)vote details (4)

@jasonmcz · Jul 18 '16

my pleasure guys!

👍 jasonmcz, michaellamden68

properties (23)vote details (2)

@makgorn · Jul 18 '16

Well said

properties (22)

@michaellamden68 · Jul 18 '16

Thank you, quite the "eye opener"!!

👍 michaellamden68

properties (23)vote details (1)

@msevoe · Jul 19 '16

Informative

properties (22)

@nysemax · Jul 18 '16

Thank you! Very interesting article!

👍 oliviav, michaellamden68

properties (23)vote details (2)

@phenom · Jul 17 '16

Don't give up, @jasonmcz. I hope you'll beat those whales! 
Be strong!

👍 konelectric, jasonmcz, phenom, michaellamden68, surf4life

properties (23)vote details (5)

@jasonmcz · Jul 18 '16

Thank you for encouraging me on this hehe! I wasn't going to but earning a bit money here and there by ripping some of the whale's orders is fun too!

👍 methodise, jasonmcz, oliviav, michaellamden68

properties (23)vote details (4)

@abit · Jul 18 '16

Glad that we have more traders like you! And I'm happy to share some of the rewards. Perhaps eventually we'll have a better liquidity rewarding system, but before it's put in place, we just have to guard the funds by taking them by ourselves.

By the way, as pointed out in [this article](https://bitsharestalk.org/index.php/topic,20376.msg262560.html#msg262560), maker-taker schema won't work here. Any other ideas?

👍 methodise, michaellamden68, davidr

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2 replies

@question-answers · Jul 28 '16

<p><strong>Welcome </strong>to the Steemit community! I have added you to my list of people to follow and I hope that you will do the same.</p>
<p>I have also created a blog here and would like to ask if you would kindly <strong>contribute </strong>some of your <strong>knowledge </strong>to the <strong>community </strong>and perhaps <strong>answer a question</strong> or two I have posted on the links below.  </p>
<p>By simply answering a few general questions your help to build our <strong>collective knowledge base</strong>, and your input is valuable.</p>
<p><strong>How valuable is my input?</strong>  Well answers to the questions you post have the opportunity to earn <strong>STEEM </strong>which can be converted into Bitcoin and then your countries local currency!  <strong>IT IS TRULY AMAZING!</strong></p>
<p><strong>I once answered a question on here and received 59 STEEM which converted to roughly $177.00 in USD!  </strong> The reason was that my answer was of value to readers!  So please add your value and answer a few questions here:</p>
<p><a href="https://steemit.com/questions/@question-answers/what-should-every-foreigner-know-about-your-country">What should every foreigner know about your country?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-youtube-video-of-all-time">What is your favorite YouTube Video of all-time?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-quote-which-quote-inspires-you">What is your favorite quote: Which quote inspires you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/payout-timer-when-do-you-get-paid-for-your-contributions">Payout timer.  When do you get paid for your contributions?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-role-of-religion-or-spirituality-in-your-life">What is the role of religion or spirituality in your life?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-habit-you-ve-taken-up-from-another-person">What is the best habit that you have taken up from another person?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-way-to-lose-weight-tell-us-how-you-did-it">What is the best way to lose weight and how did you do it?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-would-you-do-differently-if-you-knew-nobody-would-judge-you">What would you do differently if you knew no one would judge you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-are-some-amazing-facts-that-sound-like-bs-but-are-actually-true">What are some amazing facts that sound like BS but are actually true?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-music-video-of-all-time">What is your favorite music video of all time?</a></p>
<p><strong>YOUR CONTRIBUTIONS MATTER!  YOUR ANSWERS MATTER!  YOUR QUALITY ANSWERS PAY!</strong></p>
<p> #QUESTIONS #ANSWERS #CONTRIBUTE #TELLYOURSTORY #DISCUSS #VIVASTEEM </p>
<p><br /></p>

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@rdwn · Jul 18 '16

Interesting article. I would like to point out it is important to never throw all of your eggs in one basket. Even if you believe something will be successful you always need a plan B. I think steemit is a great investment but if you are talking about your retirement plan, I would be careful. Cheers!

properties (22)

@riverhead · Jul 18 '16

Great article and yes, please keep competing. I love the "People think it looks like this but it actually looks like this small screen of code" bit. So True. My wife calls it, "The Matrix" because there's no fun pictures just lines of code.

👍 michaellamden68

properties (23)vote details (1)

@sigmajin · Jul 18 '16 (edited)

@jasonmcz  I'm 99% certain that these micro wash-trades are happening on bittrex too.  If you have a way to exploit it, I'd love to hear about it.  I have a not bad amount of capital on there.

👍 michaellamden68, lurker1

properties (23)vote details (2)

@jasonmcz · Jul 18 '16

I am happy to take a look and do some investigation tomorrow. If you are on slack, feel free to message me anytime @jasonmcz, but normally I am in my own channel (http://tinyurl.com/hjpk6za) for my project.

👍 michaellamden68

properties (23)vote details (1)

@silentpower · Jul 18 '16

Normally I don't approve of whale hunting but in this case I do!

👍 jasonmcz, michaellamden68, lurker1, legendnal, brianreecegreen

properties (23)vote details (5)

@jasonmcz · Jul 19 '16

$0.03

@silentpower that's a good one!

👍 jasonmcz

properties (23)vote details (1)

@tinfoilfedora · Jul 18 '16 (edited)

$0.11

I noticed the same thing a few days ago and tried a similar test manually, and got nothing. I posted about it and asked if I should have gotten any rewards, my post was ignored by the ones that could answer, even though they were answering my other questions.

It is pretty obvious the people coding this seem to be the ones making all the hourly profit. If there are already 6 bots permanently at the top of the cue for rewards, that reinforces the idea. Regular steemit users and windows miners cannot even place orders on the market right now, only linux miners and linux developers can. If it wasn't for those 2 developers sharing info with you, that info never would have never even made it out to the public.

Perhaps you should focus an article on the illegal wash trade part, maybe that will get some attention.

👍 tinfoilfedora, cannav, jasonmcz, dtsddace, me-tarzan, oliviav, michaellamden68, hmfoucault, lurker1, borntowin, surf4life, brianreecegreen

properties (23)vote details (12)

@jasonmcz · Jul 18 '16

$0.09

"Perhaps you should focus an article on the illegal wash trade part, maybe that will get some attention. "
yep agreed!

👍 bittrex-bill, trytobezen, dwinblood, jasonmcz, oliviav, michaellamden68, lurker1

properties (23)vote details (7)

@toroiskandar · Jul 18 '16

What do you think with the yobit
https://steemit.com/yobit/@toroiskandar/yobit-net

👍 arwaniwawan

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