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Offline teenagecheese

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Please Provide bitOIL Feeds!
« on: February 03, 2015, 09:11:39 PM »

I really really really want to buy bitOIL. Can some delegates step up and figure out how to do this. Do it and you will get yourself higher pay. That is how this works, show value and get paid for it.

This is the problem, it is the rare person that is self motivated enough to figure this out and do it on his own drive without anyone telling them to do it. But you don't have to have that person to make this work. Instead, we NEED someone managing to actively try to get things like bitOIL implemented. Come up with the idea, put up a bounty, and recruit to get a delegate to do it. Otherwise, stuff just keeps on not happening.

And COME ON bitOIL is such easy and obvious low hanging fruit to increase adoption. Do you realize how popular oil is right now to trade? Do you realize how hard it is and how much money it takes to trade it on the real market? A lot! Get a good market for this and advertise it to crypto traders and they will jump all over it. DO IT!

This is just one example of the several things that could easily happen, but are not. We need some management and recruiting here. I'm not saying bytemaster is not doing good at what he is doing, instead, that we need an additional person to do these things.

Offline Rune

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Re: Please Provide bitOIL Feeds!
« Reply #1 on: February 03, 2015, 10:02:23 PM »
I think the daily feeds are good enough for now. Delegates should update their scripts to include the daily oil feed ASAP so we can start to see a trickle of oil liquidity on the DEX.

Cryptohedge will be working to figure out the best way to get continous oil feeds from CFD and futures platforms... Once we have gold and silver up and running. Then we'll make sure gold, silver, and oil can be traded at low spreads on every bitcoin exchange.

Offline teenagecheese

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Re: Please Provide bitOIL Feeds!
« Reply #2 on: February 03, 2015, 10:09:39 PM »
Yea even if it's just daily feeds I guess that would be o.k., but right now we only have two. What a joke. Hopefully the voting system advances more and lame delegates that don't even post simple feeds that are available get voted out.

This stuff will work better/happen naturally when there is more competition for delegates, but right now they need to be pushed by the core team to do things I think. We can't just rely on natural motivation when we are trying to get adoption. We need to FORCE utility.

Offline emski

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Re: Please Provide bitOIL Feeds!
« Reply #3 on: February 03, 2015, 10:21:32 PM »
@teenagecheese can you be more specific about the type of bitOIL you want to buy?
To what price exactly you want it to be pegged ?

Offline pgbit

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Re: Please Provide bitOIL Feeds!
« Reply #4 on: February 03, 2015, 10:23:23 PM »
https://www.quandl.com/c/markets/crude-oil

Platinum and palladium prices too:
(spreadsheet cell)
=importHTML("http://www.apmex.com/","table",1)

Offline teenagecheese

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Re: Please Provide bitOIL Feeds!
« Reply #5 on: February 03, 2015, 10:29:26 PM »
@teenagecheese can you be more specific about the type of bitOIL you want to buy?
To what price exactly you want it to be pegged ?

I don't know the specifics, that is what I am asking for a delegate to do, figure out what feeds would be good and provide them. The two that exist are said to be "daily feeds," that sounds to be good enough to start. Obviously I would prefer the most accurate and frequent possible. The better service the feed providing delegates can provide, the better it will be.

Edit: if the delegates need more money to pay for a feed, sobeit, let them provide it and ask for higher pay to finance it.

I just want to be able to use the bitshares market to invest in oil at todays low prices (~$50/barrel). However that materializes, I don't care.

Offline pgbit

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Re: Please Provide bitOIL Feeds!
« Reply #6 on: February 03, 2015, 10:36:02 PM »
The feed type is significant:

for example - can be a wide difference between:

http://en.wikipedia.org/wiki/West_Texas_Intermediate
http://en.wikipedia.org/wiki/Brent_Crude

Offline teenagecheese

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Re: Please Provide bitOIL Feeds!
« Reply #7 on: February 03, 2015, 10:39:40 PM »
The feed type is significant:

for example - can be a wide difference between:

http://en.wikipedia.org/wiki/West_Texas_Intermediate
http://en.wikipedia.org/wiki/Brent_Crude

Thanks for the info. If that is the case, that is fine. Maybe they will need to take an average and provide that. Whatever will work is up to them to decide, I just want them to do it.

Offline emski

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Re: Please Provide bitOIL Feeds!
« Reply #8 on: February 03, 2015, 10:47:19 PM »
https://www.quandl.com/c/markets/crude-oil

Platinum and palladium prices too:
(spreadsheet cell)
=importHTML("http://www.apmex.com/","table",1)

These prices are updated daily. That is not frequent enough.
The prices that are used are futures for a specific date (15th march, 15th june .. etc) and for specific hub and for specific type of OIL ( Crude Oil Mar 15 (CLH15.NYM) ),
If we want to use the same prices we need changes into the bitshares client.
For example Crude Oil Mar 15 (CLH15.NYM) should expire after 15th march. And we should have at least 1 additional OIL asset per month.

This is not a job just for a delegate feed.

Offline emski

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Re: Please Provide bitOIL Feeds!
« Reply #9 on: February 03, 2015, 10:52:35 PM »
The feed type is significant:

for example - can be a wide difference between:

http://en.wikipedia.org/wiki/West_Texas_Intermediate
http://en.wikipedia.org/wiki/Brent_Crude

Thanks for the info. If that is the case, that is fine. Maybe they will need to take an average and provide that. Whatever will work is up to them to decide, I just want them to do it.

Types of OIL are significantly different and their price might not correlate.

What you are suggesting is something like a peg to multiple sources. For example if we define the price of EUC as (1/3 of EUR + 1/3 of USD + 1/3 of CNY) and all delegates agree to supply such feed => you will have a portfolio of assets. Which doesn't solve the issue with OIL feeds as they are defined as futures for a specific date.

julian1

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Re: Please Provide bitOIL Feeds!
« Reply #10 on: February 03, 2015, 10:54:20 PM »
Also, would we want the future's price, or the spot price?

Offline emski

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Re: Please Provide bitOIL Feeds!
« Reply #11 on: February 03, 2015, 10:59:39 PM »
Also, would we want the future's price, or the spot price?
In current system we need the spot price. However I'm not sure how can we define it.

Offline teenagecheese

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Re: Please Provide bitOIL Feeds!
« Reply #12 on: February 03, 2015, 11:05:20 PM »
Maybe even a derivative of crude oil price would be o.k.? Like average price at the pump for U.S....I understand that it is not directly correlated but at least it would give traders access to the market in some form.

...if that will not work and they have to use future prices, than it sounds like we have to have client development. For now probably not important enough.

Offline pgbit

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Offline teenagecheese

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Re: Please Provide bitOIL Feeds!
« Reply #14 on: February 03, 2015, 11:16:42 PM »
https://www.tradingview.com/e/?symbol=USOIL
https://www.tradingview.com/e/?symbol=UKOIL

Nice find. Yea that looks good to me, as long as it's specified what the source is it works, right?

 

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