bitBTC price

[serejandmyself]

. If there's any interest I'll post it up but I'm still testing it. It's kinda crude but it compiles and runs :).

yes please  :)

[Riverhead]

possibly because people aren't running arb/market making bots on bitBTC yet. I've been wanting to get started on it won't have time to look at it until later in the week. It's really easy to adjust bytemaster's example code in the market making thread.

I took the few lines of code Toast posted up a while ago and retrofitted it to the market_maker code. It basically gets the last filled price of a pair and then creates bid and sell orders a few points above and below the last fill price. When the next fill price is a certain percentage different from the last fill price (trade history) it cancels the orders and reposts them. If there's any interest I'll post it up but I'm still testing it. It's kinda crude but it compiles and runs :).

[kisa]

btc38 looks really heavy... big short orders... waiting for big bulls to come and eat the bears up and bears to switch back to long. I expect the low to be here somewhere. Maybe in 4-5 hours we might see a bump up.

i was on about the bitBTC price on the platform - why is it way below what it should be? (but thanks for the TA anywas  :D )

1 - its early days and little liquidity in bitBTC, arbitrage is difficult to execute in reasonable volume.
2 - current BTSX market participants are rather BTSX bulls, and prefer short bitBTC position, pushing bitBTC below BTC peg.
3 - the search for an appropriate level interest on bitAssets holdings to ensure sufficient demand is continuing

[maqifrnswa]

btc38 looks really heavy... big short orders... waiting for big bulls to come and eat the bears up and bears to switch back to long. I expect the low to be here somewhere. Maybe in 4-5 hours we might see a bump up.

i was on about the bitBTC price on the platform - why is it way below what it should be? (but thanks for the TA anywas  :D )

possibly because people aren't running arb/market making bots on bitBTC yet. I've been wanting to get started on it won't have time to look at it until later in the week. It's really easy to adjust bytemaster's example code in the market making thread.

[xeroc]

It is better IMO.. black swans are an anomaly in the market, and it is best kept organic.

About the client reporting 0 fund, I think if Xeroc is right then its a bug because the fund is not being updated or displayed correctly or BM simply removed the notion of a fund and just put it somewhere else internally to distribute yield based on time/size of stake.

If I am informed correctly then this should be the reserve fund:

delegate (locked) >>> blockchain_get_asset USD
{
  "id": 22,
  "symbol": "USD",
  "name": "United States Dollar",
  "description": "1 United States dollar",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 5477664136,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 25150589
}

[serejandmyself]

btc38 looks really heavy... big short orders... waiting for big bulls to come and eat the bears up and bears to switch back to long. I expect the low to be here somewhere. Maybe in 4-5 hours we might see a bump up.

i was on about the bitBTC price on the platform - why is it way below what it should be? (but thanks for the TA anywas  :D )

[jsidhu]

btc38 looks really heavy... big short orders... waiting for big bulls to come and eat the bears up and bears to switch back to long. I expect the low to be here somewhere. Maybe in 4-5 hours we might see a bump up.

[serejandmyself]

There is a independent reserve fund for each and every bitAsset that is used to pay the yield!

But this fund is not used to intervene in the market right?

It was originally the idea to use it as a black swan fund in the case of a flash crash .. but as far as I know the only purpose of it is to pay the yield .. nothing more... no market intervention

It is better IMO.. black swans are an anomaly in the market, and it is best kept organic.

About the client reporting 0 fund, I think if Xeroc is right then its a bug because the fund is not being updated or displayed correctly or BM simply removed the notion of a fund and just put it somewhere else internally to distribute yield based on time/size of stake.

got it. Back to price, anyone?

[jsidhu]

There is a independent reserve fund for each and every bitAsset that is used to pay the yield!

But this fund is not used to intervene in the market right?

It was originally the idea to use it as a black swan fund in the case of a flash crash .. but as far as I know the only purpose of it is to pay the yield .. nothing more... no market intervention

It is better IMO.. black swans are an anomaly in the market, and it is best kept organic.

About the client reporting 0 fund, I think if Xeroc is right then its a bug because the fund is not being updated or displayed correctly or BM simply removed the notion of a fund and just put it somewhere else internally to distribute yield based on time/size of stake.

[serejandmyself]

Well i earlier on today before updating the client took my 8500 satoshi in yield so there is a yield (held for a4 or 5 days). BUT on bitsharesbolcks it shows as 0 (reserve fund). Anyone esle on the price - its imortant i think to get those pegs working

bump

[xeroc]

There is a independent reserve fund for each and every bitAsset that is used to pay the yield!

But this fund is not used to intervene in the market right?

It was originally the idea to use it as a black swan fund in the case of a flash crash .. but as far as I know the only purpose of it is to pay the yield .. nothing more... no market intervention

[jsidhu]

There is a independent reserve fund for each and every bitAsset that is used to pay the yield!

But this fund is not used to intervene in the market right?

[Riverhead]

How come the price so differs from the real price? Should be almost 15000? but its on the 13000 boundary. I mean doesnt it defeat the point of having assets - they are supposed to tied up to the price of the real asset. + why isnt there a reserve fund in bitBTC

If I recall correctly

There is no reserve fund, it is used for interest to pay for long asset holders.

Right! It turned into that with bitAsset "Rewards". So as it turns out I did not recall correctly :P.

[serejandmyself]

Well i earlier on today before updating the client took my 8500 satoshi in yield so there is a yield (held for a4 or 5 days). BUT on bitsharesbolcks it shows as 0 (reserve fund). Anyone esle on the price - its imortant i think to get those pegs working

[xeroc]

There is a independent reserve fund for each and every bitAsset that is used to pay the yield!

[jsidhu]

How come the price so differs from the real price? Should be almost 15000? but its on the 13000 boundary. I mean doesnt it defeat the point of having assets - they are supposed to tied up to the price of the real asset. + why isnt there a reserve fund in bitBTC

If I recall correctly the reserve fund builds up over time from bitBTC fees and is used in the event that extreme market volatility causes calls on short to have insufficient collateral to fully cover.

As for why the peg is off - That's above my pay grade.

There is no reserve fund accrual like that, it is used for interest to pay for long asset holders.

The insufficient collateral problem, is that not why 2x and not 1.1x or something is held in collateral?

[xeroc]

there is a reserve fund in EVERY market pegged asset  ... so also in bitBTC .. bitEUR, bitGLD, bitSLV ....

but NOT in user-issued assets .. such as FREE, BEER!

[serejandmyself]

How come the price so differs from the real price? Should be almost 15000? but its on the 13000 boundary. I mean doesnt it defeat the point of having assets - they are supposed to tied up to the price of the real asset. + why isnt there a reserve fund in bitBTC