This is an overview of a new cryptocurrency reporting platform proposed called crypto statto
The web data platform
I own the .co.uk and .com domains. the plan is to use my web data platform which hosts both info rhino and findigl for this new website. if you browse to the pages under this address you will see Maps tables and dashboards - https://www.findigl.com/markets. These reports are self discovering and we just simply need to drop Json data sets into folders on the web server to a Windows folder and the report manager functionality would interrogate these files and decide what type of support they are whether that is a map a chart or a table. Admittedly - some of the displayed information is not perfect but we are looking to add new types of report types to this application - better charts, better maps, more interactive data. You will also note that the dashboard does match on dimensions to articles. Note how Tube Lines - "Hammersmith and City" links to an article I wrote. Whilst primitive at the moment this will become more advanced in the future as more report types and article integration is added to this web data platform. There is outstanding work to integrate payment handling via a plug-in capability so that we could potentially use stripe, cryptocurrency wallets, merchant accounts, etc. Payment handling would be very much a plug-in type affair.
My preference is to have cryptocurrency as the main source of payment, but I am not too fussed about this right now.
Most who are made aware of the capabilities of the web data platform still cannot appreciate how powerful the ability to drop data in a relatively simple format to find it then appear within the application dynamically without any need to transform the data is. An added benefit is the caching ability - the reports are held in memory and without needing to go to and from a database. There will be an optimum threshold for how much can be held, but the website is capable of supporting many reports.
the main point is aside from setting up content pages and structure the website would be good to go with presenting cryptocurrency information very quickly - a matter of weeks with minimal development.
Nothing in this document is an offer of partnership. It is an overview of a new cryptocurrency trading platform that some developers may wish to collaborate on. Some will receive access to additional sample files to demonstrate how the calculation engine processes data. Contact email@example.com if interested.
The trading application
Automated Cryptocurrency Trading Engine
You may also want to read this. It puts out more ideas on the direction of the trading application.
Trading Ideas for risk management in cryptocurrency
If you can forgive the audio - these two videos kind of outline my trading strategies. https://www.youtube.com/channel/UCvcVP4oMAoI7zhIs6CCBvgg
There is no doubt these strategies work but are a slow burner. My issue is that I don't have time to do technical analysis all day - and am certain there is a high chance of failure. My strategy, can certainly be optimised to run automatically to increase returns and extract profits. I have looked at trading bots, software that does this, platforms that can do this. There are some applications in .Net/C# but they focus more on exchange integration. I looked into coinrule, and may test this, for example.
To summarise how the application works from a very high level
The application monitors prices of assets on a periodic basis, the positions held on an exchange. We differentiate between capital that is available for trading and capital that is active i.e. in a limit order, we can using configuration and rules decide whether to allocate capital to active trades, cancel active positions or to effectively withdraw capital based upon certain criteria for example if Bitcoin went over £30,000 we may say there's no way we're buying bitcoin now. Of course - cryptocurrency exchanges offers; limit orders, leverage/margin, stop losses, shorting, take profits and many other types of trades. the problem of these types of exchanges they are specific to each exchange and they tend to take you down a path of thinking in terms of trade terminology. My application focuses on being more natural in the way the trades are expressed but to also allow for additional data and metrics to be incorporated into the trade decision making. For example interest rates may have a significant impact on cryptocurrency prices you may decide to set trade actions based upon interest rates this might interest rates not being part of the cryptocurrency price.
It is important to understand that the application has been built to not have too much intelligence within it. There are other applications that we can use to add more intelligence to decision making. A future aim could be to generate the trade instruction configuration dynamically or using artificial intelligence, but this is way into the future.
We are not looking to integrate the trading application into the crypto statto website for a very long time - if you read my article on Bastyon, we will see that I see this more as a potential risk management solution long term. The goal is not to use crypto statto as a trading platform. The point to understand is that I am looking to in some way provide data on crypto statto that would benefit my trading strategy if it existed. Without going into too much detail, the main challenges in cryptocurrency information for traders we see is that most crypto YouTubers presents sporadic information that is inconsistent, and most trading exchanges presents information such as all the books prices last percentage return per day, per month, but when you drill into this it is quite hard to get relative information between different points in time. is incredibly hard to try and articulate how I envision this trading strategy being reflected within in crypto statto but if we look at the dashboard approach the idea of data being pushed to the website to be displayed in a series of different screens along with articles linked and it's information you can get a pretty good feel for how this will hang together. Of course, it is not just about my trading strategy, but it will offer a very different view on the market.
Work on this trading application started again August 2022. There is quite a lot to do still but, it feels like the application is heading in the right direction.
The data calculation engine and prices
I wrote an application that polls for prices from coinmarketcap.com prices to a json file on a directory. Originally I built a database schema in SQL Server considered doing a multidimensional cube on this but just didn't seem to make sense I know they wanted to spend lots of time building lots of SQL queries to transform this data for the data warehouse it felt like too much effort. Some may know that there is an outstanding platform called findigl, a property platform and and this has a similar set of use cases whereby we may want to evaluate differences in measures over a time period furthermore, we may want to compare prices in terms of whether they were lower last week than they are this week and whether they are above or below an average from a different time period. The data calculation engine has a number of processing modes that can be run in different ways to do a lot with data such as time series analysis. There are a number of .Net calculation engines on Github - but they didn't allow for the types of comparative temporal analysis I am using. I definitely plan to use their software if possible.
A simple overview on how the data calculation engine works
Imagine we received a file with 100 cryptocurrency prices within it over the last 10 minutes? We may want to understand if the current price is higher than intervals for the previous last 2 periods of 5 minutes. We may think if that price is above the maximum of the last two periods by 10% it would be a good time to sell. We may wish to transform this information into a format that may make it easier to present on a chart. we may wish to compare one cryptocurrency against the average of all the other cryptocurrencies and we can write custom SQL to undertake this task.
At this point you might say - "big deal, who cares?" but the critical advantage of his application is that there is no need to write code to perform most of the data analysis. The application obviously has performance bottlenecks but this can be mitigated by work in a smaller sets of data and running more of these applications simultaneously.
About the sample data presented to you
Inside the analytical processor folder are a number of files along with a folder called interval which when you open contains a list of cryptocurrency folders inside each cryptocurrency folder is an action bucket result file. We have rowset files that has been generated by transforming data and running SQL on it. The format has been created to allow the data top be chartable within the website application.
Whilst the content may be slightly unfamiliar the root of the analytical processor contains a series of container formula and mode files which allows for the analytical process application to know how to transform the data.
What should be apparent is that the base configuration inside the root folder is loaded into the application we then find one or more priced files which are then turned into action bucket results calculation results and other types of outputs. We have other applications that can manage the files where they are saved and move appropriate files to relevant target folders.
By setting up multiple instances of this application we could run this on cryptocurrency data and present this information to the website and allow for lots of reportable information on cryptocurrency price action and other metrics.
The plan for crypto statto
There are many different types of cryptocurrency data websites not many that are truly useful that provides cryptocurrency price analytic data. one that I find particularly interesting is crypto Quant, another is tradingview. They both have very different use cases. But it is not ideal because you need to keep looking up lots of charts. You can write your own scripts to trade. Both platforms charge a set amount per month as does many other platforms. Tradingview charges between 20 and 60 dollars a month - currently offering 50%. Crypto Quant is charging between $30-800 a month. We see that cryptoquant recommends brokers and makes money from other affiliate efforts. There is little point trying to replicate tradingview. Instead a website with a series of power views, data feeds via an API available to subscribers seems to be a much better model. The focus of would be on on trade signals by signals summary charts and other information to provide a much more powerful dashboard view than currently on the Web Data Platform.
What will make our website unique? A goal of Crypto Statto is to allow data to be compared for different time frames at different levels of granularity. Rather than focusing on technical analysis and available and cryptocurrency data charting websites, we are looking to highlight two market indicators at different levels of granularity to help users make more informed trading decisions. It isn't designed for users to trawl through pages all day - headline information they can use to take action.
What skills are needed for Crypto Statto?
- Dynamic Data Visualisation development. Client plugins for dashboards would be incorporated into view components within the web data platform. Not all developers would need to be .Net Developers (C#).
- C# and ASP.Net MVC. Whilst the .Net Core Web Data Platform is highly advanced, in effect, most of the development is configuration, library based, and view component based. Ideally, there is a plan to move this platform to the later version of .Net Core. There are a few outstanding pieces of work relating to pluggability, incorporating better data views, fixing existing defects with component inclusion, and extending the Content tool to permit plugging in of payment handling etc.
- Data Skills and application management skills. Ideally, most of this will be setting up instances of the data calculation engine and other applications to coordinate and produce data. It is highly possible that these applications could run from desktops at home, and save data to an FTP folder.
- Content management and Marketing skills. This won't just be about doing lots of development. Content Creation, Content Marketing, linking on platforms, writing articles on other platforms, generating youtube/dtube videos will be vital.
- Development of affiliate programs and other traffic increasing tools to grow attention.
- System Support and maintenance. The system will need support and maintenance.
Can it make money?
For me, I am looking for a platform such as this. I don't want to become a day trader, I don't want to just hoddle. The accumulator cryptocurrency platforms offering 2% a day are a scam/exit scheme. The YouTube cryptocurrency content creators can provide valuable insights and they have their place, but their content is sporadic and inconsistent. I see it more likely that those who subscribe to trading view, some will also subscribe to cryptoquant or cryptostatto. Perhaps some prefer to not use charting platforms all day long. There won't need to be that many thousands of paying users to generate quite a reasonable return.
Equity or payment
There is a serious amount of time and effort behind the existing infrastructure. I can't begin to estimate how much this would cost if this was outsourced. Realistically, we are looking at maybe another 10% to finish off the technology. What is important is that whoever gets involved sees this platform as a long term effort. The architecture is very much focused around not having to continually maintain and develop the architecture. The application focus is dynamic and configurable. This means that we should be able to reduce the time spent developing the platform in the future - the opposite of what other happens on other platforms.
Anybody wanting to get involved must be thinking - what am I expecting to get in a year? my thinking is to say cap the maximum amount of equity on offer to the initial team at potentially 15%. Each person may be allocated half a percent then it moves to 1% to 2%, 4% etc. Or each person gets a higher percentage and that gets reduced if more join? Now - if the platform was making £100k a year, would £4000 be worth it? What if it is was bringing in £300k a year and providing £16,000? Perhaps there should be some form of bonus? Would even 10% be worth it? Perhaps higher percentages of lower profits that reduces as the income increases to at least incentivise better? Perhaps new development by new people reduces profit share for those no longer developing? Possibly the profit share increases? The key thing is I don't want to complicate this.