The cryptocurrency market brings opportunities for all. The same digital currency can be bought at the same time by a determined investor who is willing to invest a large part of his savings and “HODL” for several years or decades, as well as an ambitious trader whose goal is to achieve the highest possible return in a short time.
However, there is currently another fact connected between the two actors – the defeat of an ordinary hamster, which trades in cryptocurrencies by running in a wheel and passing through tunnels, warns Business Insider.
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Hamster with an apt name Mr. Goxx, which symbolizes one of the biggest frauds in the world of cryptocurrencies – the Mt. Gox thus brings to reality the well-known theory of economist Burton Malkiel entitled „A Random Walk Down Wall Street“ (Random walk down Wall Street).
In it, Malkiel argues that even a blindfolded monkey who selects specific stocks to buy and sell by throwing an arrow would ultimately achieve the same results as “human” investment advisers and funds.
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This is shown by the rodent, which has been trading independently and randomly with a portfolio of various cryptocurrencies since 12 June, with its “work” streamed by the project’s creators at Twitchi. Behind the project, about which the portal was the first to inform Protos, there are two Germans who want to remain anonymous.
Comparison of Mr. Hamster Portfolio Performance Goxx, bitcoin and several index and investment funds / Source: Screenshot / Protos
The biggest surprise, however, is the performance of the hamster portfolio, the value of which to date, after 113 purchases and 60 sales of various cryptocurrencies overall increased by almost 20%. Mr. Goxx currently holds cryptocurrencies worth around € 400, currently owning the most TRX tokens, followed by XLM and cardano.
In mid-September, however, the return exceeded 50%, when the value of its portfolio approached the amount of 500 euros from the original 326 euros. The performance of the hamster portfolio over the same period is surpassed by many investment and cryptomen funds, including the S&P 500 index.
Mr. Goxx can start and end trading a position whenever he wants, and his “office” consists of a treadmill on which he randomly selects one of the 30 cryptocurrencies to be traded during the activity. Following the passage through one of the two tunnels that represent the sale or purchase of a given cryptocurrency, the system buys or sells a certain amount of that cryptocurrency.
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As he writes BBC, almost everything from the hamster office is hand – made, except for a few snippets of code that powers the entire trading system. The project was created as a recipe for endless boredom during the COVID-19 pandemic, but the creators also have several expansion plans that want the activity of Mr. Bring Goxxa closer to an even larger audience and bring them more space.
Hamster progress, including purchases and sales, is updated daily and you can also follow it on the official forum at Reward or on Twitter.