I'm not exactly sure what you're asking. What's the goal of building a trading system?
As someone who's worked on trading systems in a professional setting I'll give some thoughts.
First and foremost the goal is to make money. I guess some people build these systems for fun/hobby or for the challenge/educational value. But huge amounts of money are spent on trading systems, with the goal that they increase profitability. Sometimes that means maximizing returns, sometimes that means assisting traders. This is a very large market, with very diverse types of end-users. I believe crypto is similar, but a microcosm of the broader trading environment (with some of its own cyrpto-specific idiosyncrasies). You have some "HFT" traders, "institutional", HODLERs, etc... Each has different objectives and skill sets. A trading system has a different value proposition for each trader's needs and objectives.
In terms of a 100% automated market, that's an interesting question. The biggest world markets are very highly automated, such as the equities market. Google "hft percentage of volume" and you'll find various sources claiming up to 70% of the equities volume is HFT. Since HFT trades complete in micro-seconds, this is fully automated trading. The Flash crash was partially blamed on a high-level of automation, were a trader was trying to game the response to large orders[1].
I think a 100% automated market would collapse. Even the 70% automated market of equities has shown some scary positive feedback loops that need human intervention.
1 - https://www.bloomberg.com/view/articles/2015-04-21/guy-tradi...
As someone who's worked on trading systems in a professional setting I'll give some thoughts.
First and foremost the goal is to make money. I guess some people build these systems for fun/hobby or for the challenge/educational value. But huge amounts of money are spent on trading systems, with the goal that they increase profitability. Sometimes that means maximizing returns, sometimes that means assisting traders. This is a very large market, with very diverse types of end-users. I believe crypto is similar, but a microcosm of the broader trading environment (with some of its own cyrpto-specific idiosyncrasies). You have some "HFT" traders, "institutional", HODLERs, etc... Each has different objectives and skill sets. A trading system has a different value proposition for each trader's needs and objectives.
In terms of a 100% automated market, that's an interesting question. The biggest world markets are very highly automated, such as the equities market. Google "hft percentage of volume" and you'll find various sources claiming up to 70% of the equities volume is HFT. Since HFT trades complete in micro-seconds, this is fully automated trading. The Flash crash was partially blamed on a high-level of automation, were a trader was trying to game the response to large orders[1]. I think a 100% automated market would collapse. Even the 70% automated market of equities has shown some scary positive feedback loops that need human intervention.
1 - https://www.bloomberg.com/view/articles/2015-04-21/guy-tradi...