Congrats on the breakthrough. I’ve been reading along with your progress. I think it interests me because I have done something similar in another area. I used to day trade stocks and I was rather good at it. But my emotions would get the best of me and override what I knew was right and cost me money. So, I took my knowledge of trading and my knowledge of coding and created my own trading bot. First in PHP which proved to be too slow and failed just because of that. Since then I have rewritten it in Python and it trades for me every day. Getting closer and closer to an efficient system that I can just leave running to make me money. Today’s market is not the best time for this. But at least it gives me time to get it running smoothly before it turns back into a bull market. Good luck in your venture.
Thank you so much for your support. I have tried with several trading strategies in the crypto market before (just backtesting) and the verdict was that buy+hold performed better than trading back and forth.
Additionally, I dint not really have success in analyzing charts. Kudos to you if that works for you.
What I do have a good track record with is trusting my gut and predicting med/long term stock development. I only briefly use chart and company data for that. The most part is looking at the ceo, what the company does and what the market conditions are for that given sector.
The issue with that is: How do you program such an analysis where you only preselect on numbers but then analyze if the ceo is telling bullshit, or if the whole portfolio of the company is mostly marketing blah (thats what most of my analysis comes down to)?
The answer for me was starting to program something which does not try to predict market movements at all. For most people, this seems rather stupid, but given that apparently a Monkey outperforms most funds (well I tried that as well a “any monkey can beat the market” portfolio behaves just like an etf interestingly)…
The final approach is to use a set of well known very basic rules which many say its hard to achieve.
like
- when everyone wants to buy, prices are likely high
- when everyone tries to sell, prices are likely low
- never try to catch a falling knife
- dont sell your golden cow
Off the top of my head would be to look at what analysts say about the company. Maybe you could find an API that would feed you analyst scores. If that doesn’t exist, you could do some sort of web scraper to pull the scores from different sites and then consolidate yourself. (Just a thought)
Yeh, my script runs on a specific strategy looking for a specific setup on the chart. It throws a bunch of checks at the mover along the way to make sure it meets all the requirements and then makes a trade. After that it watches it in case it pumps and then pulls back. Dumping if it needs to, otherwise either a target or trailing stop is triggered. Today was a good day, 2 trades, 2 wins, +$521.20.
actually I though about exactly the opposite: just doing exactly the opposite of what the analysts say.
In general, I do not read analysts recommendations. Too often im reading them, look at my portfolio and think: uhm what, exactly the opposite of what they said happened.
Unfortunately, most analyst’s ratings are paid for by one party or another and the rest of the analysts suck. So, yeh, agreed.
Just a very, very brief update today.
The chia api and accordingly the chia rpc library are in a good spot (id say around 70% finished)
As of right now, I am cleaning up the code, writing some unit tests and writing documentation.
First unit tests look very good, I can fetch all data from the api.
In case you are a c#/.net windows developer, feel free to test the libraries out:
This will enable me to push transactions (will see how that goes, the official documentation is quite complete… except on how to push a transaction - yehy)
This is a critical part, as minting an nft is a transaction, and I will also need transaction pushing to trade my coin as well as sending it to the happy holders of CryptoCrest nft.
From there on, ChiaMinter will go quickly, as it is basically finished (except for the pushing transaction part)
well done.
i follow your update.
Playing around with some marketing:
As we approach the closed alpha 1 phase, I want to make sure that my website is as comprehensive and clear as possible. In the previous posts of the thread, there may have been misunderstandings about my intentions and goals, and I want to avoid any confusion going forward.
One of the key priorities for me is to ensure that the growth of my portfolio and business is sustainable and manageable. I have seen firsthand how some companies have struggled or even collapsed due to rapid expansion that they were unable to handle (just as one example: Boosted Boards). That’s why I want to be cautious and methodical as I build my business.
At the moment, my portfolio is still relatively small, and it is acceptable to hold assets on a stock exchange. However, as the portfolio grows, I want to move away from this approach and consider other options such as integration with further wallets and possibly even cold storage. It’s important to me that I have all of the technical details sorted out before moving forward, as any missteps or oversights could be fatal to the success of my business.
Hey everyone!
I just wanted to share that I am really happy about the holiday season and the start of a new year. I hope everyone had a nice and relaxing holiday too.
I took a break from my projects for the past three weeks and it was really nice to relax and recharge. However, I am now ready to get back to work and make some progress.
I wish everyone a great start to 2023 and all the best for the coming year. Let’s make it a great one!
Hello everyone,
Long time no see! I apologize for the lack of updates in the past month, but I’ve been fully focused on the Chia Minter project, which turned out to be a much bigger project than I initially anticipated. However, I am happy to report that it is finally coming to a close and I am already using it for my minting projects.
With the Chia Minter project wrapped up, I can now redirect my efforts back to the Blockchain ETF project. During my time working on the Chia Minter, I have gained a better understanding of the Chia API, offerings, and interaction with the Chia client. I am excited to apply this knowledge to the Blockchain ETF project.
Stay tuned for updates and I look forward to sharing the progress with you all.
Best regards,
Dear Community,
I’m excited to announce the release of the NFT minter project, which is now complete. I’ll be updating the documentation and creating a quick start video this week to wrap things up.
The BTF project is also on my radar, and I believe the crypto market has found its bottom. While there may be a short-term dip of up to 50%, I anticipate a sideways or upward trend moving forward. Keep in mind, this is just my personal observation and not investment advice.
My focus now is to stabilize and release the BTF to take advantage of the upcoming growth opportunities in the crypto market.
Dev update 19
The minting tool has been completed with all surrounding works such as documentation, Web page ant video tutorial.
I am now working on two things:
-
Getting the Portfolio manager mort stable
This takes time as there are plenty of cases which I have to handle Just as an example, OKX has frequent maintenance downs, gate has some timeouts and server outages. There are several bits which do not happen too frequently so I can only work on them once in a while -
Update the chia client api
Yesterday, the chia client brought out version 1.7 which is exciting to me. They implemented a lot of new features, many of them which are usability related.
This brings new features and possibly changes in the api. Further more I will now implement the cat interface which is required for ETP Project
Offering
There are some good news regarding offering.
I implemented offer creation and automatic upload to spacescan and dexie into the nft minter.
I learned how to update the offers.
So there will be two options for exchange:
a) sending directly to a specified wallet address
b) using an offer file from a dex with a slightly higher fee
I forgot about this topic because of the exciting developments of chia.
Your updates have been great.
Is it actively working now?
Frankly, the trade movements you sent above are very successful, if this is your service and if it is ready, I am ready!
greetings!
Hello Root87,
I have been working on finishing up the chia Client API. It is now completely done.
It took me way longer than anticipated with the chia 1.7.1 update which also added a lot of capabilities.
That beeing said, all available chia wallet functionalities are now implemented.
I will now start working on implementing the chia client into my project. That primairly includes:
- Creation of a coin for the project
- Implementation of offers
- Implementation of asset transfers between the chia client and the exchanges
- Reporting functionalities
- Bot stability improvements
This will allow me to start trading the asset and I will also start to invest into my etf
I can’t wait to test it!
I hope it ends soon!
I have a new update.
I’ve been considering the concerns raised about how a centralized authority for the coin might undermine the free market. I’ve come up with a potential solution and would like to share it with you and gather your opinions on the matter.
- Due to the nature of the project (fully backed), I can’t treat sales of the coin as earnings, but rather as assets under management. Taking these funds as profit would directly contradict the goal of providing fully backed assets. This is a challenge since I need to finance the project somehow. Many projects and companies have been run down this way in history where all of a sudden, there were no assets underlying anymore, which is pretty much the current situation on the Financial market. I think it is best to not even remotely consider touching the assets under management for that reason.
- I want to cover my costs, and since I’m managing the assets, there is inherent risk involved. Naturally, I’d like to earn some money from the project, even if it’s not much at first. Initially, it’s more of a psychological/motivational factor to see some income.
- I want to offer a fair partnership, not a rip-off. This is very important to me.
So, how can I combine these three elements? I have investigated three approaches:
- Traditional asset managers charge a recurring fee, which is deducted by diluting the asset. These fees are typically expressed as an annual percentage of the ETF’s net asset value (NAV) and are deducted from the ETF’s assets before the NAV is calculated. This would mean that the coin would be diluted, which I want to avoid.
- The second approach, which I discussed earlier, is to control the market by providing offerings with a slight spread to the fair price (calculated by the net asset value). I still believe this is a fair method. I won’t go into more detail since I’ve already covered this previously.
- Recently, I’ve considered creating a custom smart coin that implements a royalty fee upon buying/selling the asset. This is similar to the current NFTs on Chia, where a small royalty fee gets deducted and sent to the creator of the NFT, in this case, the creator of the coin. On the positive side, this could simplify various aspects, such as calculating the current price for offers. I would still provide offers based on the current net asset value to ensure a secure means of purchasing/selling the asset and fulfilling the buyback warranty. This would also cleanly separate assets under management from actual income, as I could send fees to a different wallet than the management wallet. Fees would apply only when the asset is traded. However, the downside is the complexity of this approach, as there is currently no precedent. I would have to derive the smart contract from the current NFT standard, and there are no available references, documentation, or examples to follow. If anyone has information on custom inner_puzzles in cat_v2 Chialisp, I would be more than happy to look into them.
Regarding coin creation, there are two methods:
- A fixed amount, which cannot be changed. This means the amount is set and cannot be altered in the future without issuing a new, different coin. This might pose issues down the line. It requires creating many tokens to avoid running out.
- A variable amount, which allows changing the number of available coins by minting new tokens or melting tokens back to Chia. This is what most stablecoins currently do to manage the amount of tokens. On the positive side, this makes the project more flexible in adjusting to demand and maintaining the total amount of tokens close to what is circulating. On the negative side, it is more complex to manage and might pose increased security risks if someone breaches the system and mints/melts coins to manipulate the price.
Please let me know your thoughts on these topics. I’ll be exploring the royalty fee aspect for a few days to see if it’s feasible or beyond my capabilities, given the lack of references or documentation to follow.
If you ask me, it may not be a good idea to directly manage people’s investment. How many people can you find to entrust your money to you?
In the crypto world, unfortunately, people are scammed even for $5.
I think you should charge a monthly fee, or you should charge per transaction, or you should charge on profit, or all at once.
I do not care about that part. Primairly, I plan on managing my own assets with it for now. I truely believe that trust does not lurk around the corner and that it has to be earned and built up, which may take Time.
I also have 2 great updates:
-
The Coin is minted. There is no fee built into it. I have been in close contact with the chia developers in the Dev forums, in GitHub and on the Keybase channel.
I have been able to mint a prototype coin on the testnet but It seems so far that the Chia Client does not support tokens with a custom contract. So I did not waste further Time and minted a Standard, one time issuance token with fixed supply.
You can now find the Token on Spacescan:
Chia Asset Token(CAT) - Chia Blockchain Explorer -
The Whitepaper (draft) is now complete. You can check it out here and let me know what you think or provide any feedback:
Coin-Documentation/BTF/BTF-Whitepaper.md at master · KryptomineCH/Coin-Documentation · GitHub
The planned Launch is June 30
Good luck with your endeavor!
Very Brief Update about the Progress:
The Chia client API is now updated to version 1.8.0 and its integrated into the Portfolio manager.
I can now see the chia wallet, balance and BTF tokens in the portfolio manager.
The calculation of the token price and floating supply is already finished.
The next big challenge is to join the exchange rebalancing strategies to accomodate for assets beeing held on on-shore wallets. (EG, the chia assets).
After that, I will proceed to buy the first tokens from my wallets for testing purposes.
It sounds quite easy but I have the feeling that joining the rebalancing calculations for multiple exchanges and Wallets might pose difficulties.
I am thinking about the transferral processes between exchanges and Wallets which might pose challenges to liquidity due to transfer times and transfer fees.