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Haasbot is one of the oldest and most advanced cryptocurrency trade bots on the market. Here is a talk with the creator and CEO of the bitcoin trading project! We have been using this bot since long time so decided it would be good if others meet it but with another way than just review.
Lets get some backstory first. How did you come to crypto world ?
– I think i was reading a new article about the bitcoin which has to reach a few cents of value. I think this was end 2012 or something?
Haasbot is one of the oldest and most advanced trading bots. How did it start ?
– It all started back in early 2012 when i encountered the bitcoin for the very first time. I was directly sold to the bitcoin because of the price movements, i kinda directly saw the opportunity to get into trading. BTC-e was the first exchange i have been using and over there i saw the API, as being a software developer myself it was only logical to begin to connect these 2 dots. This is how it all started, i began to make a bot for myself. However, i was in need of some funds to trade myself and this is how i began selling my bot. This was in may 2013, i believe.
How many users you have now and what are future plans for Haasbot that you can speak of ?
– We are having about 35,000 users right now and with that we are leading the crypto bot industry. For this reason, we are keeping our roadmap disclosed for the biggest part. All that i am willing to share is that we will be going for a hybrid solution eventually. Currently we are selling the haasbot as an application and later on we will also offer it also as a cloud solution. But i am not telling how we will do this and what innovations we will be present then.
Which of pre-built bots you find most interesting or you personally use the most ?
– I am a big fan of the Advanced Index Bot and the FlashCrash Bot. The Advanced Index Bot is a really simple bot which just uses the price movements (in general) in its favor, so it makes easy profits. The FlashCrash bot is a so-called grid trading bot, as the name implies it loves sudden price movements and this is what we see happening at almost all cryptocurrencies. So that directly explains why this is also one of my favorites.
Every year we have loads of hacks, some stay not public. I’ve read over 2 million USD are lost between exchanges monthly on hacks just they cover those from fees.
What is your stance on exchanges right now? I see Haasbot doesn’t add exchanges too often.
– We are very careful with adding new exchanges, we are looking if there is enough trading volume at an exchange and if this trading volume is real. We also look to the reputation the exchange has on how it handles complains of users. If we support an exchange with the Haasbot then in a way we say that this exchange is alright to put your coins in. So, this is why we are carefull and to not blindly add all the exchanges.
What about decentralized exchanges, do you think they are the future or what problems they may have? Are you thinking to add any of them into the bot?
– We are watching the decentralized exchanges and we have even run several test with them. The idea behind decentralised exchanges is technically perfect, however there fundamental issues which have not been resolved yet. For example, decentralized exchanges need to stay in sync and this process it taking too much time. In addition, there is another problem, most decentralized exchanges do not have a lot of trading volume and this gives issues with getting orders filled. As a bot provider, it’s, of course, essential to get the order filled. So looks like we are still in the early stages of decentralized exchanges, we will keep watching them and once the quality comes near the central exchanges then we will very likely begin to support them.
Now to the BTC price. We saw 20k USD in December 2017. When do you think we will see that price crossed again ? Or maybe when do you see 2000 USD again.
– We are not going to see the $2,000 prices. The lowest price i am expecting to see is in the ranges of $2,800 up to $3,000. As for the longer run, we are looking to a new uptrend again. Personally, i am expecting to see the price to get started on its uptrend by the end of February or the begin of March. This uptrend can not be stopped because its going to be the start of a new price peak. All my estimations say that by begin 2020 we will see new all-time high prices of the bitcoin again
And to the AI. You have AI bot Alice. How does she work if you could say and is there a way to ask her for price predictions for upcoming months or years? Did you ever try that?
– Yes it has been tried and the outcome was inconclusive, Alice is a machine learning bot. She is only able to deal with the information which she got right now, she is not really able to forecast things. However, internally we got a research group set up especially for ML developments and we are exploring how we are able to push Alice to the next generation.
So far our research has shown us that ML is not outperforming humans yet. They are coming close, but they are not better than us yet. Research done by others has proven the same thing. Its predicted that it is going to take a few more years before AI is better than us humans.
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