Archive for the ‘Tests and Reviews’ Category


The second day of our testing of the automated Bitcoin trading bot Butterbot is now over and while in the last 24 hours there was a bit more movement on the BTC-e exchange that we are testing the bot on, still Butterbot hasn’t executed even a single trade. Our balance remains the same as yesterday, 0.030 BTC + 1.48 USD. Hopefully we are going to see more happening in the next day and the bot might actually do some trades and generate a profit, so stay tuned for our next report in 24 hours after another day passes.

To read more about the Butterbot automated BTC trading bot and our day 1 experience…


The last 24 hours we tested mining Protoshares at the 1GH PTS mining pool using their GPU miner along with a single AMD R9 Radeon 280X graphics card to see what we can expect in terms of mined PTS and check the profitability if PTS mining with GPU versus LTC mining with GPU. With the difficulty of the Litecoin going back higher and the increase of the price of the Protoshares lately with the boom of GPU mining it is interesting to see what is more profitable to mine with your graphics cards.

The current Litecoin difficulty of 3300 ensures that with a single graphics card such as the Radeon 280X that we’ve used you are going to be mining about 0.2195 LTC per day. That is the earnings if you are directly mining LTC and not mining alternative cryptos that you then trade for LTC giving you higher profit.

The two CPUs we’ve used for mining are:
– AMD R9 Radeon 280X graphics card running at 1050/1500 clocks

The 1GH pool we used for PTS mining has:
– 3.5% fee

The total earnings for 24 hour period (confirmed + unconfirmed):
– 0.5229 PTS

The value of the Protoshares mined for 24 hours is as follows:
– 0.00799201 BTC
– 0.29450000 LTC
– ~$6.46 USD

So while there is not much point in mining Protoshares (PTS) with CPU anymore, there is a good point in mining for Protoshares instead of directly mining for Litecoin as this will give you slightly higher profitability if you exchange the mined PTS for LTC. Judging from our results you cans ay that at the moment GPU mining Protoshares you can earn about 34% more than mining with the same graphics hardware for Litecoins. So if you are interested in PTS mining, we do recommend you to give it a try at the 1GH PTS pool with a single GPU to see if you are going to be happy with the result you will get.


Butterbot is one of the few available automated trading bots for Bitcoin (BTC) trading based on EMA (Exponential Moving Average) logic that professional currency traders use. It is in the form of a Google Chrome browser extension and the trading is done in the cloud, so you will need to have the Chrome browser installed in order to be able to use this automated trading bot.

The Butterbot is a commercial product that works in the cloud, so as soon as you purchase the product you will also need to pay a small monthly subscription fee. This however is a good option, because you don’t have to have a computer on all the time with the bot installed on it, it will work automatically as soon as you activate it and set the trading parameters and you only need a computer to be able to monitor what the actually bot is doing or to change the trading settings.

The best thing about the automated exchange trading of BTC/USD that Butterbot does is that it supports three of the major BTC exchanges – MtGox, BTC-e and Bitstamp and the bot can operate on all three exchanges with independent settings or only on one or two of them, it is up to you. Furthermore there is a7 day free trial that you can activate in order to test the automated trading bot, before you decide if you should pay for it and start using it on the long run. And while these 7 days to try it out are a great feature, this bot may not give very good idea if it will be profitable on the long run as it is designed to be used for longer periods of time and the results you get may not only vary based on your trading settings, but also on the current market situation and the trading on the exchanges.

For the moment the Butterbot supports only BTC trading, but the author of the trading bot is apparently also working on Litecoin (LTC) support in an upcoming update with the feature already available in beta. This is definitely a good thing, because it can increase your profitability chances by operating on more trading pairs than just the standard BTC/USD ones that are currently supported.


We’ve decided to give the Butterbot a try for the 7 day test period before deciding if we should start using it on the long run and we are going to share our results from the product during or trial period. We have started with a small sum of about 25 USD in the BTC-e exchange, it is good to start the test with a small amount on a single exchange to get a feel of the interface of the product and to minimize the potential loss if you mess up or you are not happy with the results you get from the bot at the end of the trial period.

What we’ve liked a lot about the Butterbot is the powerful and very easy to use backtesting engine that lets you try and experiment with different trading strategies until you find your optimal settings. And the testing is being done against actual trading data that has been collected from the Bitcoin exchanges, so it is not some inaccurate mathematical simulation, but testing against real trading data. We even received a recommended startup settings to try on the different exchanges by the authors of the bot, you can find these settings below…

The recommend starter settings for Mt. Gox:

– Short EMA: 10
– Long EMA: 21
– Buy 1: 0
– Buy 2: 0.25
– Sell 1: 0
– Sell 2: 0.25
– 2 hour time window

The recommend starter settings for Bitstamp and BTC-e:

– Short EMA: 20
– Long EMA: 42
– Buy 1: 0
– Buy 2: 0.15
– Sell 1: 0
– Sell 2: 0.1
– 30 minute time window.

We started with the recommended settings for BTC-e and already a day has passed with the bot active on the BTC-E exchange with a starting capital of 25 USD to operate with. So far the bot has executed just a single trade – it bought 0.03 BTC, so at the moment our balance is as follows: Balance = 0.030 BTC + 1.48 USD. We also noticed that the bot has not acted on some possible opportunities, so while the recommended settings may be well balanced for start they will need some tweaking for better profitability. For now however in just day it is hard to give any positive or negative feedback about the bot, so stay tuned for more of our testing results with the Butterbot automated Bitcoin trading bot in the next few days as we continue to test how will it perform.

If you want to learn more about the Butterbot and to give it a free try run…