Retail traders don't trust trading bots

Adam Cochran: "retail traders don't trust trading bots"

In the report, Cochran writes that 10,388 cryptocurrency traders were surveyed. The total volume of assets under their management amounted to $ 53.5 million. The overwhelming majority of respondents are retail traders with assets from $ 1,000 to $ 50,000. Such users account for 94% of the respondents. Among all those surveyed, 81% identified themselves as active traders.

Since the purpose of the survey was to identify the use of trading bots, the first question was the experience of using such programs. It turned out that 38.05% of respondents had tried trading bots, but 93% of respondents did not extend the trial period. 63.07% said that they had problems with the bot, 29.46% answered that they simply did not have the necessary functions.

One of the main reasons for refusing to use trading programs was the lack of trust in the bot and its developers (88.46%). Also, the reason was often a lack of ready-made scripts, an insufficient choice of exchanges for trading using a bot, a high complexity and high risk of such trading.

“Many users are interested in automated trading. But they need ready-made scripts, brands that can be trusted, and the ability to split balances, ”concluded the author of the study.

Trading bots are very popular in the DeFi industry right now. Such programs track potentially profitable transactions on decentralized exchanges and create similar transactions with increased fees so that the transaction is completed faster than the original. This has become such a big problem that special solutions are being prepared to deal with it. One of them is the Taichi Network mining network from the Sparkpool pool.

UK Treasury to create guidance on private stablecoin issuance

The UK regulator issued a statement that "new technologies, such as stablecoins - private digital currencies - could change the way people store and exchange money, and make payments cheaper and faster."

UK Treasury Secretary Rishi Sunak tweeted that the regulator will "publish guidance to ensure that new private currencies - stablecoins - meet the high standards expected from other payment methods." According to him, this "will enable the potential benefits of stablecoins to be harnessed while managing risks to consumers and financial stability."

According to the ministry, the government and the Bank of England are still examining whether "central banks can issue their own digital currencies as a supplement to cash." Government-owned cryptocurrencies can compete with private stablecoins or help people move towards cashless payments.

Mining company Hive doubles hashrate by installing 1,240 WhatsMiner M30S devices

With the addition of 1,240 WhatsMiner M30S devices from MicroBT, Hive's computing power has doubled, the company said. Now her hashrate is 229 petahashes per second (PH / s), up from 116. She intends to achieve a hashrate of 1,000 PH / s over the next 12 months.

Bill Miller: Every Big Investment Bank Will Want Bitcoin

Billionaire investor and founder of Miller Value Partners fund Bill Miller believes that the risks of a complete depreciation of bitcoin are now lower than ever before. He made this statement in a conversation with CNBC on Friday.

“The history of bitcoin is very simple - it is supply and demand. Bitcoin supply is growing at 2.5% per year, while demand is growing faster, ”he said.

Miller managed to outperform the S&P 500 stock index for 15 years while managing the Legg Mason Capital Management Value Trust. In December 2017, he announced that half of his hedge fund MVP1's assets were invested in Bitcoin. In a recent interview, Miller warned of a "return" of inflation caused by the Fed's "shelling of money" and future congressional stimulus measures.

The investor expects that after MicroStrategy invested $ 425 million in Bitcoin, Square - $ 50 million, and PayPal announced the addition of its support, every major investment bank and companies with high asset value will want to open up to the cryptocurrency and commodity market, primarily gold. ...

Miller also serves on the investment board of the Johns Hopkins University Foundation. According to him, the investment director of the fund said that "everyone will want to have at least some bitcoins" due to the "asymmetric properties" of the cryptocurrency.

“The fund may never buy bitcoin. Nevertheless, this is a bold statement for the university foundation, ”he added.