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Offline emski

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Price Feed Difference
« on: September 25, 2014, 10:32:22 PM »

There are 2 widely used price feed scripts.
Alt's and Xeroc's version.
They produce different results due to additional exchanges added by xeroc.
However the volume on these exchanges is much lower and some might argue their weight in the price calculation should be reduced.
See the volume for yourself at http://coinmarketcap.com/currencies/bitshares-x/#markets.
I'd say mean price weighted by volume might be the best choice here.
Other suggestions ?

Offline tonyk

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Re: Price Feed Difference
« Reply #1 on: September 25, 2014, 10:55:34 PM »
Always have been of the same opinion.
Shouldn't be a rocket science to be done in the script. Even the use of historic volumes will be better than non-weighted average/median.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: Price Feed Difference
« Reply #2 on: September 26, 2014, 06:56:54 AM »
*agreed* ... my script was a first shot and probably will change (improve) over time .. thanks for pointing it out!

But I am not so sure if it fits to "building the median over all exchange prices" :|
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Offline emski

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Re: Price Feed Difference
« Reply #3 on: September 26, 2014, 07:04:03 AM »
*agreed* ... my script was a first shot and probably will change (improve) over time .. thanks for pointing it out!

But I am not so sure if it fits to "building the median over all exchange prices" :|
Yes it is not exactly like that.
However, even though it accounts for specific currency pairs and does additional conversions it still accounts for the price derived from low volume exchanges the same as the price derived from high volume exchanges.

Offline tonyk

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Re: Price Feed Difference
« Reply #4 on: September 26, 2014, 07:12:59 AM »
*agreed* ... my script was a first shot and probably will change (improve) over time .. thanks for pointing it out!

But I am not so sure if it fits to "building the median over all exchange prices" :|
Yes it is not exactly like that.
However, even though it accounts for specific currency pairs and does additional conversions it still accounts for the price derived from low volume exchanges the same as the price derived from high volume exchanges.

Is it really that hard to provide weighted price feed? Give me a break... I, myself, can probably learn enough python (or whatever) to change it in a day or 3.....
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: Price Feed Difference
« Reply #5 on: September 26, 2014, 07:15:35 AM »
It is not difficult ... but at the end you will have the choice between

1) average over weighted-by-volume exchange prices
2) median over exchange prices

right?
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Offline emski

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Re: Price Feed Difference
« Reply #6 on: September 26, 2014, 07:16:29 AM »
Is it really that hard to provide weighted price feed? Give me a break... I, myself, can probably learn enough python (or whatever) to change it in a day or 3.....
It is not about writing the script. It is about convincing everyone to use that technique.
It is useless to provide such script if noone uses it.

Offline tonyk

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Re: Price Feed Difference
« Reply #7 on: September 26, 2014, 07:25:49 AM »
It is not difficult ... but at the end you will have the choice between

1) average over weighted-by-volume exchange prices
2) median over exchange prices

right?

I do not care about the median if 95% of the trade volume is at some other price.

right?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: Price Feed Difference
« Reply #8 on: September 26, 2014, 07:29:11 AM »
conclusion: we should go by 1)

makes sense!
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Offline tonyk

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Re: Price Feed Difference
« Reply #9 on: September 26, 2014, 07:32:30 AM »
conclusion: we should go by 1)

makes sense!

YES it does!

Which on is easier? - To manipulate the price  at 9 exchanges with 5 trade volume or at one with 100 trade volume?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: Price Feed Difference
« Reply #10 on: September 26, 2014, 07:35:59 AM »
Which on is easier? - To manipulate the price  at 9 exchanges with 5 trade volume or at one with 100 trade volume?
That's why I am polling multiple exchanges and derive the MEDIAN ...

however you are right as the whole median thing only makes sense if I polled like 20 exchanges and not only 3-4 ..
Gonna pimp my script towards volume-based averaging .. this evening
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Offline cryptillionaire

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Re: Price Feed Difference
« Reply #11 on: September 26, 2014, 08:27:25 AM »
http://www.xe.com/datafeed/ Has anyone considered using a professional source of currency data?
It actually looks quite expensive:
Quote
Daily: US $540 / year
Hourly: US $2,160 / year
Quarter Hour: US $4,320 / year
Minute: US $6,480 / year

Any alternatives? I could see the quarter hour being justified once delegates are earning above that, but for now it's a massive expense..

Alternatives:
http://www.xignite.com/forex/product

...Think one of us could grab said feeds and distribute it? Kinda a breach of ToS.. hmm : /
« Last Edit: September 26, 2014, 08:33:23 AM by cryptillionaire »

Offline emski

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Re: Price Feed Difference
« Reply #12 on: September 26, 2014, 08:30:16 AM »
http://www.xe.com/datafeed/ Has anyone considered using a professional source of currency data?
It actually looks quite expensive:
Quote
Daily: US $540 / year
Hourly: US $2,160 / year
Quarter Hour: US $4,320 / year
Minute: US $6,480 / year

Any alternatives? I could see the quarter hour being justified once delegates are earning above that, but for now it's a massive expense..

Only if BitsharesX blockchain was legal entity able to purchase the above-mentioned feed....
It could pay for the bills from the fees.

Offline cryptillionaire

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Re: Price Feed Difference
« Reply #13 on: September 26, 2014, 08:39:07 AM »
http://www.xe.com/datafeed/ Has anyone considered using a professional source of currency data?
It actually looks quite expensive:
Quote
Daily: US $540 / year
Hourly: US $2,160 / year
Quarter Hour: US $4,320 / year
Minute: US $6,480 / year

Any alternatives? I could see the quarter hour being justified once delegates are earning above that, but for now it's a massive expense..

Only if BitsharesX blockchain was legal entity able to purchase the above-mentioned feed....
It could pay for the bills from the fees.
Well.. delegates could individually purchase said feeds.. perhaps all of the delegates could create a corporation (perhaps establishing itself as a single entity) and get a single license for an expensive price feed and allow everyone to use it?

Offline xeroc

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Re: Price Feed Difference
« Reply #14 on: September 26, 2014, 08:52:48 AM »
I am here, on this forum that is, for several proposes (self appointed, btw).... One of them is to post the below regarding your bolded text:

...
what tonyk wants to say is: Cooperation of delegates is a NO-GO!!
« Last Edit: September 26, 2014, 10:10:50 AM by testz »
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