100% of the SBD this post raises will be sent to Bittrex to stabilize the price of STEEM.
This is a project Co-Started by @cryptohustlin
What do we propose?
You simply upvote this post. We have a market making(a trading strategy) bot built out for STEEM on Bittrex and by adding your donations in the form of upvotes to the bot, we could potentially stabilize steem quite a bit.
So what is market making?
Market making is when someone who places bids(wanting to buy) and asks(wanting to sell) on a product in an attempt to make profit. A by product of this activity is decreased volatility in the market(more stable prices).
http://www.investopedia.com/video/play/role-market-maker/Yesterdays trade volume Update:
- 177.4101004 Steem
- 0.0185578 BTC
It doesn’t take a lot!
This project was kicked off by 120$ worth of steem / bitcoin donated by @cryptohustlin, Since market making constantly is buying and selling, the amount of volume you can do with very minimal amounts of money, make this strategy for stabilizing steem great!Our Code.
https://github.com/cmtzco/steem_mm
We have decided to share our code with everyone so anyone who wanted to play around with it or use it was able to.
Keep in mind this bot does trade with and can loose REAL MONEY.
We are not responsible for any bugs in the code, how you choose to use this software or anything that could arise form running this software.
The current code will trade with your entire BTC and STEEM balances on poloniex and bittrex.