Author Topic: Dry Run 15: Fifteen ( Market GUI ! )  (Read 28796 times)

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Offline cgafeng

which branch are this dry run use, i try the branch master and develop, neither work because of can't connet.
and the p2p log is:
Code: [Select]
Received a rejection from 107.170.30.182:1778 in response to my "hello", reason:
 "You're on a different chain than I am. 
I'm on 6af511b5e7edfb4a36e946443eb514cd8c5e47d5fad578b75c03447d94df71fd
and you're on 4f07657a990f68ed155b6bf7d20f37e46991d84481439394abbec9eab60a73f7"
BTC:1EYwcZ9cYVj6C9LMLafdcjK9wicVMDV376

Offline sudo

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anyone having trouble connecting to test network through GUI?

network_add_node "207.12.89.119:1776"

Offline mavisjames

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anyone having trouble connecting to test network through GUI?
Pmp2K9S5t15hTEkrrFk1cfieb2Y2eVR6YG

BTSX ID: mdyyz

Offline bytemaster

@alt: so all is fine now? market is still safe?
no,  control the average price to higher is still very quickly, only need 1 block.
control to low price is more difficult.

In fact, this is not a big problem, we can get the  medium price  just like  feed price, sort and use the middle price.
and use a time more than 1 hour.

what I am worried about is the rule:
1. margin call can create bts, this can be use to attack the whole system. I still prefer just clear the short position can't be cover.
2. the short price is limit, if the limit is too lower for some reason, like a sudden price grow of bts, nobody ask with a lower price, and no asset can be create.
I have post  for my thought here.
I have no doubt that market consensus will make bitusd track the price of USD.
but the rules with leak will break the market consensus.
the rules with too many limit will stop the market consensus.

I think we should make a rule with  less limit, and without leak.
here is my solution.
the main different is the short bitusd is separate from bid XTS.
for example:
If I want to short 100 bitUSD with price 1bitUSD/xts, I need to  freeze 200 XTS, and I can get 100  bitUSD immediately.
then I can usd these bitUSD to buy XTS with a different price, for bit order. maybe 0.5 bitUSD/XTS or whatever, there is no limit for the price of bid order.
the same, there is no limit for the price of ask order. there is no limit for the market depth check.

the key is to limit the short price.
the maximum  short price is coming from the minimum matched bid price of latest blocks(maybe latest 24*60*6 blocks).
at the beginning there is no matched bid price, we can set a safety initial limit price, come from the central trade market, like 0.01USD/XTS.

I agree median price would be harder to manipulate... more expensive to calculate, but harder to manipulate. 
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline sudo

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OMG    i got the wrong  direction   :'( :'( :'( :'( :'( :'( :'(

short usd     less bts mean  high risk………………

Offline Riverhead

USD:XTS
short USD
quantity 1
price 0.04536595820001758  because 0.04536595820001758 is min

failed

info
Quote
Order failed: stupid order (20034) You are attempting to short at more than 5% above the buy price. This short is based on economically unsound principles, and is ill-advised. If you're sure you want to do this, place your short again and set allow_stupid_short to true


HAHAHA  +5%

Offline xeroc

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Quote
Order failed: stupid order (20034) You are attempting to short at more than 5% above the buy price. This short is based on economically unsound principles, and is ill-advised. If you're sure you want to do this, place your short again and set allow_stupid_short to true
lol .. very nice :)

Offline sudo

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USD:XTS
short USD
quantity 1
price 0.04536595820001758  because 0.04536595820001758 is min

failed

info
Quote
Order failed: stupid order (20034) You are attempting to short at more than 5% above the buy price. This short is based on economically unsound principles, and is ill-advised. If you're sure you want to do this, place your short again and set allow_stupid_short to true

Offline alt

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@alt: so all is fine now? market is still safe?
no,  control the average price to higher is still very quickly, only need 1 block.
control to low price is more difficult.

In fact, this is not a big problem, we can get the  medium price  just like  feed price, sort and use the middle price.
and use a time more than 1 hour.

what I am worried about is the rule:
1. margin call can create bts, this can be use to attack the whole system. I still prefer just clear the short position can't be cover.
2. the short price is limit, if the limit is too lower for some reason, like a sudden price grow of bts, nobody ask with a lower price, and no asset can be create.
I have post  for my thought here.
I have no doubt that market consensus will make bitusd track the price of USD.
but the rules with leak will break the market consensus.
the rules with too many limit will stop the market consensus.

I think we should make a rule with  less limit, and without leak.
here is my solution.
the main different is the short bitusd is separate from bid XTS.
for example:
If I want to short 100 bitUSD with price 1bitUSD/xts, I need to  freeze 200 XTS, and I can get 100  bitUSD immediately.
then I can usd these bitUSD to buy XTS with a different price, for bit order. maybe 0.5 bitUSD/XTS or whatever, there is no limit for the price of bid order.
the same, there is no limit for the price of ask order. there is no limit for the market depth check.

the key is to limit the short price.
the maximum  short price is coming from the minimum matched bid price of latest blocks(maybe latest 24*60*6 blocks).
at the beginning there is no matched bid price, we can set a safety initial limit price, come from the central trade market, like 0.01USD/XTS.
« Last Edit: August 15, 2014, 03:24:37 pm by alt »

Offline xeroc

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@alt: so all is fine now? market is still safe?

Offline alt

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oh, I have missed that, then it's more difficult  to control the price.
The 1 hr rule is in terms of blocks where the market actually executes.  If you attempt to stall the market then no time will run off the clock. 


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Offline alt

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 :'( :'( :'(
somebody  have withdraw the short order
I have try, but why there is depth error?
Code: [Select]
default (unlocked) >>> blockchain_market_order_book USD XTS                                                                                                             
                  BIDS (* Short Order)                                       |                                   ASKS                                 
TOTAL                     QUANTITY                                     PRICE | PRICE                                        QUANTITY                     TOTAL   COLLATE
RAL
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
5,169.1045 USD                                                  MARKET PRICE | 10.000000000000 USD                 100,000.00000 XTS        1,000,000.0000 USD
300,000.0000 USD          30,000.00000 XTS               10.000000000000 USD*| 100.000000000000 USD                199,999.00000 XTS       19,999,900.0000 USD
4,122.9218 USD            412,292.18476 XTS               0.010000000000 USD*| 1000.000000000000 USD             1,000,000.00000 XTS    1,000,000,000.0000 USD
0.3968 USD                53.96960 XTS                    0.007352941176 USD*| 100000000.000000000000 USD        4,000,000.00000 XTS400,000,000,000,000.0000 USD
0.9999 USD                136.00000 XTS                   0.007352941176 USD*| 100000000.000000000000 USD        1,000,000.00000 XTS100,000,000,000,000.0000 USD
0.9999 USD                137.00000 XTS                   0.007299270073 USD*| 10000000000000.000000000000 USD            1.00000 XTS10,000,000,000,000.0000 USD
2,100.0000 USD            300,000.00000 XTS               0.007000000000 USD |
9,991.3057 USD            1,499,695.00000 XTS             0.006662225183 USD*|
799.9999 USD              120,719.98491 XTS               0.006626905235 USD |
99.9999 USD               15,500.00000 XTS                0.006451612903 USD*|
66.6666 USD               10,666.65600 XTS                0.006250000000 USD |
0.6240 USD                100,000.00000 XTS               0.000006240000 USD |
0.1999 USD                1,999,000.00000 XTS             0.000000100000 USD |
0.8000 USD                800,000,000.00000 XTS            0.000000001000 USD |
0.0900 USD                90,000,000.00000 XTS            0.000000001000 USD |
0.0010 USD                100,000,000.00000 XTS            0.000000000010 USD |
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
Average Price in Recent Trades: NO FEEDS     Bid Depth: 1,957,814.15436 XTS     Ask Depth: 20,582,540.38032 XTS     Min Depth: 2,000,000.00000 XTS
Last Error:  insufficient depth (37005)


Details:
37005 insufficient_depth: insufficient depth

    {"reason":"After executing orders there was insufficient depth remaining","market_stat":{"quote_id":22,"base_id":0,"bid_depth":192781415436,"ask_depth":2061254038032,"avg_price_24h":{"ratio":"1.72982868043448879","quote_asset_id":22,"base_asset_id":0},"last_error":null},"(((1000*1000*int64_t(1000)*1000*int64_t(1000)) / 5)/1000)":200000000000}
    th_a  market_engine.cpp:433 execute
default (unlocked) >>> wallet_market_
wallet_market_cancel_order  wallet_market_order_list    wallet_market_submit_bid   
wallet_market_cover         wallet_market_submit_ask    wallet_market_submit_short 

Bid Depth: 1,957,814.15436 XTS 
< 2M

Offline alt

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I think I should got 1,000,000 USD at this attack for now, but don't know why the market stop match... and about 700,000 USD is grab by others  :'(
I have to stop here, but the plane what I will do is:
I will get about 1,000,000 USD.
then I will give a bid order at price 0.011 USD, with 1,000,000 USD will buy about 100,000,000 XTS.
then give a ask order at price 0.012 USD.
wait some time, when the average price down to normal, start the margin call, and I can get 100,000,000 XTS
I use about 5,000,000 XTS for this attack

I have try, but why there is depth error?
Code: [Select]
default (unlocked) >>> blockchain_market_order_book USD XTS                                                                                                             
                  BIDS (* Short Order)                                       |                                   ASKS                                 
TOTAL                     QUANTITY                                     PRICE | PRICE                                        QUANTITY                     TOTAL   COLLATE
RAL
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
5,169.1045 USD                                                  MARKET PRICE | 10.000000000000 USD                 100,000.00000 XTS        1,000,000.0000 USD
300,000.0000 USD          30,000.00000 XTS               10.000000000000 USD*| 100.000000000000 USD                199,999.00000 XTS       19,999,900.0000 USD
4,122.9218 USD            412,292.18476 XTS               0.010000000000 USD*| 1000.000000000000 USD             1,000,000.00000 XTS    1,000,000,000.0000 USD
0.3968 USD                53.96960 XTS                    0.007352941176 USD*| 100000000.000000000000 USD        4,000,000.00000 XTS400,000,000,000,000.0000 USD
0.9999 USD                136.00000 XTS                   0.007352941176 USD*| 100000000.000000000000 USD        1,000,000.00000 XTS100,000,000,000,000.0000 USD
0.9999 USD                137.00000 XTS                   0.007299270073 USD*| 10000000000000.000000000000 USD            1.00000 XTS10,000,000,000,000.0000 USD
2,100.0000 USD            300,000.00000 XTS               0.007000000000 USD |
9,991.3057 USD            1,499,695.00000 XTS             0.006662225183 USD*|
799.9999 USD              120,719.98491 XTS               0.006626905235 USD |
99.9999 USD               15,500.00000 XTS                0.006451612903 USD*|
66.6666 USD               10,666.65600 XTS                0.006250000000 USD |
0.6240 USD                100,000.00000 XTS               0.000006240000 USD |
0.1999 USD                1,999,000.00000 XTS             0.000000100000 USD |
0.8000 USD                800,000,000.00000 XTS            0.000000001000 USD |
0.0900 USD                90,000,000.00000 XTS            0.000000001000 USD |
0.0010 USD                100,000,000.00000 XTS            0.000000000010 USD |
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
Average Price in Recent Trades: NO FEEDS     Bid Depth: 1,957,814.15436 XTS     Ask Depth: 20,582,540.38032 XTS     Min Depth: 2,000,000.00000 XTS
Last Error:  insufficient depth (37005)


Details:
37005 insufficient_depth: insufficient depth

    {"reason":"After executing orders there was insufficient depth remaining","market_stat":{"quote_id":22,"base_id":0,"bid_depth":192781415436,"ask_depth":2061254038032,"avg_price_24h":{"ratio":"1.72982868043448879","quote_asset_id":22,"base_asset_id":0},"last_error":null},"(((1000*1000*int64_t(1000)*1000*int64_t(1000)) / 5)/1000)":200000000000}
    th_a  market_engine.cpp:433 execute
default (unlocked) >>> wallet_market_
wallet_market_cancel_order  wallet_market_order_list    wallet_market_submit_bid   
wallet_market_cover         wallet_market_submit_ask    wallet_market_submit_short 


Offline bytemaster

The 1 hr rule is in terms of blocks where the market actually executes.  If you attempt to stall the market then no time will run off the clock. 


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For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

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I have try, but why there is depth error?
Code: [Select]
default (unlocked) >>> blockchain_market_order_book USD XTS                                                                                                             
                  BIDS (* Short Order)                                       |                                   ASKS                                 
TOTAL                     QUANTITY                                     PRICE | PRICE                                        QUANTITY                     TOTAL   COLLATE
RAL
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
5,169.1045 USD                                                  MARKET PRICE | 10.000000000000 USD                 100,000.00000 XTS        1,000,000.0000 USD
300,000.0000 USD          30,000.00000 XTS               10.000000000000 USD*| 100.000000000000 USD                199,999.00000 XTS       19,999,900.0000 USD
4,122.9218 USD            412,292.18476 XTS               0.010000000000 USD*| 1000.000000000000 USD             1,000,000.00000 XTS    1,000,000,000.0000 USD
0.3968 USD                53.96960 XTS                    0.007352941176 USD*| 100000000.000000000000 USD        4,000,000.00000 XTS400,000,000,000,000.0000 USD
0.9999 USD                136.00000 XTS                   0.007352941176 USD*| 100000000.000000000000 USD        1,000,000.00000 XTS100,000,000,000,000.0000 USD
0.9999 USD                137.00000 XTS                   0.007299270073 USD*| 10000000000000.000000000000 USD            1.00000 XTS10,000,000,000,000.0000 USD
2,100.0000 USD            300,000.00000 XTS               0.007000000000 USD |
9,991.3057 USD            1,499,695.00000 XTS             0.006662225183 USD*|
799.9999 USD              120,719.98491 XTS               0.006626905235 USD |
99.9999 USD               15,500.00000 XTS                0.006451612903 USD*|
66.6666 USD               10,666.65600 XTS                0.006250000000 USD |
0.6240 USD                100,000.00000 XTS               0.000006240000 USD |
0.1999 USD                1,999,000.00000 XTS             0.000000100000 USD |
0.8000 USD                800,000,000.00000 XTS            0.000000001000 USD |
0.0900 USD                90,000,000.00000 XTS            0.000000001000 USD |
0.0010 USD                100,000,000.00000 XTS            0.000000000010 USD |
------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------
Average Price in Recent Trades: NO FEEDS     Bid Depth: 1,957,814.15436 XTS     Ask Depth: 20,582,540.38032 XTS     Min Depth: 2,000,000.00000 XTS
Last Error:  insufficient depth (37005)


Details:
37005 insufficient_depth: insufficient depth

    {"reason":"After executing orders there was insufficient depth remaining","market_stat":{"quote_id":22,"base_id":0,"bid_depth":192781415436,"ask_depth":2061254038032,"avg_price_24h":{"ratio":"1.72982868043448879","quote_asset_id":22,"base_asset_id":0},"last_error":null},"(((1000*1000*int64_t(1000)*1000*int64_t(1000)) / 5)/1000)":200000000000}
    th_a  market_engine.cpp:433 execute
default (unlocked) >>> wallet_market_
wallet_market_cancel_order  wallet_market_order_list    wallet_market_submit_bid   
wallet_market_cover         wallet_market_submit_ask    wallet_market_submit_short 

Bid Depth: 1,957,814.15436 XTS 
< 2M