Main > Stakeholder Proposals
[Poll] BSIP42: adjust price feed dynamically
pc:
--- Quote from: roelandp on September 22, 2018, 01:22:44 pm ---What I would propose is for
- transparency
- useability of the actual market reflecting pricefeeds
to have next to the quote/base data per asset also a new variable, namely a 'premium' or 'modifier / premium / feedback'-float to be set per asset. This modifier/premium can then be set irregardless of the pricefeed publishing (or together, but ideally also seperate `publish_modifier`) and can be a 'median of medians' .
--- End quote ---
+1
j.galt:
Your proposal is far better for the community and for transparency RoelandP.
The "fast track" of bsip42 and now seeing signs of push for BitUSD for a similar scheme indicates there is an agenda at play here which goes beyond simply wanting a tighter peg. Although I haven't seen much, it has been mentioned to eliminate the global settlement price, so Thul3's comments about that may right.
Are we witnessing the "controlled demolition" of this ecosystem? When major shareholders propose price feed manipulation (i.e. bsip42) and other proxies and the committee don't jump in to stop it or at least demand a more careful plan to conduct testing, I have to ask.
Making adjustments to increase a derivative's peg "tightness" is one thing, removing global settlement is another.
BTW, when will this bsip42 experiment be over? When will we see a report or something written up about this? When will we have seen enough variations in the market to know the PID parameters are optimized for all market conditions?
Or, are witnesses endlessly supposed to keep making adjustments to the PID settings? That's hardly an improved feed algorithm.
I sure hope bsip42 is heavily discussed at Bitfest and a solid plan is considered to prevent a catastrophe.
roelandp:
@abit I'm walking around here on Bitfest and we've been discussing the BSIP42. If we are looking into updating the software with a future hardfork or major release, irregardless of whether to continue the BSIP 42 or it might get voted out we could move and seperate the "pricefeed"-data and the "premium" (modifier) data into a new variable set by witnesses publishing this 'modifier/premium'.
What I would propose is for
- transparency
- useability of the actual market reflecting pricefeeds
to have next to the quote/base data per asset also a new variable, namely a 'premium' or 'modifier / premium / feedback'-float to be set per asset. This modifier/premium can then be set irregardless of the pricefeed publishing (or together, but ideally also seperate `publish_modifier`) and can be a 'median of medians' .
1. This would mean that witnesses can continue to publish pricefeeds according to the old "market reflecting" data as sampled from all sources.
2. The pricefeed data reflects "true" reflection of the market and can continue to be used as trusted source for input for other projects whatever they may be.
3. Then inside the new software version code the final price to be calculated could be as simple as "pricefeed median * 'modifier median".
- If BSIP42 gets voted out it could be as simple as everyone publishing a "1.0"-value as "modifier".
- If BSIP42 stays active it is way easier to see witnesses' premiums/modifiers and the pricefeeds can stay usefull for other projects beyond and inside the Bitshares realm.
Thul3:
--- Quote ---BSIP42 worked fairly well on bitCNY, we need to apply it on bitUSD in the next step.
--- End quote ---
BSIP42 is a total failure moving BitCNY directly and quickly to a global settlement.
We already have at this high BTS price a BTS sell wall of 21 million BTS on a CTR of 1.65 and the global settlement price will be already reached at 0.47 CNY .
This is fucking nuts what you guys are doing.You fucking play with everyones collateral.
You guys are clearly out of control and should be kicked out of commitee for these steps.....
In my private opinion to protect your own assets against margin call.
--- Quote ---BSIP42 worked fairly well on bitCNY, we need to apply it on bitUSD in the next step.
--- End quote ---
Yeah lets quickly change bitusd too to protect your assets on bitusd too before people realise what shit they implemented and what its causing.
Hurry hurry to implement bitusd calling bsip42 after a few days a full success ignoring now the big margin walls we have in the smallest downtrend .
Once its changed it will stay like your fucking 5% settlement fee.
You deserve the price of the biggest manipulator on bitshares thinking being so smart to always be able to sell the community stupid trojan horses
abit:
--- Quote from: paliboy on September 16, 2018, 11:21:30 am ---
--- Quote from: bitcrab on September 15, 2018, 06:44:11 pm ---data at this moment:
bitCNY: BTS price:0.818, feed price:0.917, premium:0.1%
bitUSD: BTS price:0.115, feed price:0.119, premium: 4%
BSIP42 worked fairly well on bitCNY, we need to apply it on bitUSD in the next step.
--- End quote ---
how did you calculate this premium?
--- End quote ---
You can also check here https://coinmarketcap.com/currencies/bitcny/ , remember to set CNY as base currency.
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