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Blackbird: Bitcoin arbitrage

(github.com)
298 points vega_empire | 2 comments | 23 Dec 17 12:39 UTC | HN request time: 0.421s | source
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jluxenberg ◴[23 Dec 17 19:25 UTC] No.15995767[source]▶
From the README:

  >> your maximum loss on an exchange won't be 
  >> greater than $xx no matter what.
Unless I'm misunderstanding; the bot sells short on one exchange and buys on the other. If there was a bug where it didn't cover the short sale with a long buy, and Bitcoin price goes up, you'd be liable for the increase in price.
replies(1): >>15995778 #
1. jluxenberg ◴[23 Dec 17 19:27 UTC] No.15995778[source]▶
And here's an instance of this very bug! https://github.com/butor/blackbird/issues/348
replies(1): >>15996963 #
2. tomaskafka ◴[23 Dec 17 23:37 UTC] No.15996963[source]▶
And they will always happen - once you send a first transaction of the pair, if anything goes wrong (eg. overloaded exchange timeouts on API call) with the second one, there is no undo.