kwaidan, you and robbbb seem to be saying that the bots are ok because they have become a fact of life like the weather or taxes or something or other over which we have no control.
The difference I can see is the undemocratic aspect of these things. Why can't I use my own software program to access the sharemarket and run a bot system? They should be available to all on an equitable basis or to none, otherwise there is the possibility of a manifestly unfair situation arising, regardless of your assertion that the human mind alone can conquer these things.
If they become as pervasive and increasingly intelligent as new computing power becomes available (only to the merchant banks & hedge funds) then the problems we see now will only become worse and the share market in general become seen as only a place for the privileged and connected, more then it is now.
It's no good to say that it is too late.
The politicians are the ones to lobby, not ASIC. Sorry about the analogy, I expect you are not in favour of taxes, but the logic is the same.
