6 ms·

Is there a more socially unproductive, legit practice than this?

ryeguy 4y ago
This is such weird commentary that pops up on every algotrading post. Why does it have to be socially productive? No one makes the claim it is.
- nemo44x 4y ago
  It’s parasitic.
  - qnt 4y ago
    You can buy or sell 1 share of apple for a bid/ask spread of 1 cent today, or 0.006% of the stock price, and pay no commission to do so. There are very few other examples out there where pure competition between market participants have made things so cheap as to be indiscernible from free. Parasites indeed
  - 40yearoldman 4y ago
    Okay, and is that bad? The entire world has systems which parasitic relationships exist that if they simply did not the entire ecosystem of live could collapse. But here we are with 26 letters complaining on perhaps the most advanced thing humans have made because you don’t see the value of saving some money while trading. People don’t exist to give things a way, expecting people to pay more is parasitic.
auntienomen 4y ago
This is an article about how pension funds and other large players use algorithms to reduce their trading costs. You have a problem with that? Or did you not know you were in a Wendy's?
- nemo44x 4y ago
  Yeah that’s maybe an edge case at best. It’s nickel vacuuming in most instances.
  - hackerlight 4y ago
    One of the largest uses of algorithmic trading is not an edge case.
pixelpoet 4y ago
Hmm, for-profit prisons?
hackerlight 4y ago
Many things, I'd argue. Meat industry causing animal suffering. Social media, tobacco, fast food industries causing human suffering. Oil and gas industry causing environmental destruction. What direct suffering does algorithmic trading cause? It would take quite the narrative spin to argue that it's as bad or worse as one of the above industries.
- ImHereToVote 4y ago
  You are syphoning revenue from a diverse cast of multi-ethnic CEO's that could use that revenue to enrich their communities. They won't, but they could. They totally could, and you are ruining that possibility.
mythrwy 4y ago
In theory it is not socially unproductive at all (in practice much less so). The socially useful idea behind trading is allocation of capital. How do we determine which sectors get capital and which don't? How do we determine a price of something? This is in theory. In practice of course... BitConnect!

This is such weird commentary that pops up on every algotrading post. Why does it have to be socially productive? No one makes the claim it is.

nemo44x 4y ago
It’s parasitic.
- qnt 4y ago
  You can buy or sell 1 share of apple for a bid/ask spread of 1 cent today, or 0.006% of the stock price, and pay no commission to do so. There are very few other examples out there where pure competition between market participants have made things so cheap as to be indiscernible from free. Parasites indeed
- 40yearoldman 4y ago
  Okay, and is that bad? The entire world has systems which parasitic relationships exist that if they simply did not the entire ecosystem of live could collapse. But here we are with 26 letters complaining on perhaps the most advanced thing humans have made because you don’t see the value of saving some money while trading. People don’t exist to give things a way, expecting people to pay more is parasitic.

auntienomen 4y ago

This is an article about how pension funds and other large players use algorithms to reduce their trading costs. You have a problem with that? Or did you not know you were in a Wendy's?

nemo44x 4y ago
Yeah that’s maybe an edge case at best. It’s nickel vacuuming in most instances.
- hackerlight 4y ago
  One of the largest uses of algorithmic trading is not an edge case.

pixelpoet 4y ago

Hmm, for-profit prisons?

hackerlight 4y ago

Many things, I'd argue. Meat industry causing animal suffering. Social media, tobacco, fast food industries causing human suffering. Oil and gas industry causing environmental destruction. What direct suffering does algorithmic trading cause? It would take quite the narrative spin to argue that it's as bad or worse as one of the above industries.

ImHereToVote 4y ago
You are syphoning revenue from a diverse cast of multi-ethnic CEO's that could use that revenue to enrich their communities. They won't, but they could. They totally could, and you are ruining that possibility.

mythrwy 4y ago

In theory it is not socially unproductive at all (in practice much less so). The socially useful idea behind trading is allocation of capital. How do we determine which sectors get capital and which don't? How do we determine a price of something? This is in theory. In practice of course... BitConnect!