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Post by goldservice on Jun 26, 2014 17:15:42 GMT
Elsewhere GSV said: "I'd sell mine, but a) you couldn't afford it, and b) it's seriously tuned to my requirements, and I have no desire to support it for anyone else's, and c) having paid my ludicrous price (based on my ludicrous £/hr rate) the buyer would probably abuse it by throwing in more money than I consider fair and reasonable (to be a commercially viable venture it probably ought to play with a six or seven figure sum).
Sifting the secondary market automagically has been done for a couple of years now (and complained about over on the official forum for most of that time). I believe mention has even been made here how some of the buy-bots are dumb enough to be persuaded to buy rubbish, albeit only if offered at a discount (as opposed to FC's autobid, which will only buy rubbish at par)."
Leaving aside the charming 'automagically', this post refers to both bid-bots and buy-bots. May I ask all buy-bot owners to consider adding a procedure that would remember the rest of us who do not have buy-bots. This new procedure would start a new thread on this board each time the buy-bot had exhausted the most attractive parts on the secondary market, and would tell us what crumbs it was leaving us :-)
Perhaps the apparently uneven playing field created by the use of buy-bots echoes the story today about yet another banking scandal: Barclays allegedly favouring high frequency traders at the expense of other investors.
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Post by GSV3MIaC on Jun 26, 2014 18:10:16 GMT
Well I'm sure it could be done, but you'd probably drown in new threads, which nobody would read.
Just for the record, I don't buy-bot on the secondary market anyway (have the capability, declined to employ it), but I do bid-bot to make sure that bids I put in damn well STAY in (until/unless the rate gets silly) .. this is obvious to anyone looking through the 'all bids' auction listings anyway (and I could produce a list of similarly equipped individuals, but probably shouldn't). Over on many other platforms it isn't necessary, since the platform already provides this sort of dynamic bidding facility. A roll-your-own bot construction kit (well, an API which would make it rather easier) has been promised, but not yet delivered by FC. Actually it was promised for 'early next year' back in Oct/Nov, so I guess they are late.
Yes, there is an uneven playing field at FC, for a lot of reasons (bots being one). The whole concept of the auction, where folks can wind up getting 6% or 15% interest on exactly the same loan part, is IMO pretty crass, but that's the way it is (unless you are the government, or a whole loan buyer). The stock market, as you note, is even worse, with ungodly amounts of money being spent on computer science solutions to making more money.
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