I do not agree with the tone of the author, but some witnesses really did bad job in price feeding.
I am not referring to any specific witness, it's a generally speaking.
recently, I always feel that the market BTS/bitCNY price is a more exact BTS/CNY price than the feed price.
see below picture, market price is 2% higher than feed price, naturally you may think, does bitCNY has a 2% discount?
No. at the time bitCNY still have a premium of about 0.5%.
you may say that witnesses need time to response, so there's always delay when the market price change rapidly.
but what I see is that some witnesses do not update the price after 2+ hours or even 10+ hours even when the last feed price is 2% apart the market price.
I feel fortunate that months ago I disagreed to reduce the force settlement offset of bitCNY back to 1%, if it is 1% now it will provide chances for speculators to exploit debt position owners!
I feel in the future we need to make a candle chart and put feed price of each witness inside for users to evaluate how exact the feed price is.
witnesses need to take the responsibility, it's important to the whole ecosystem, if you do not like the job, just leave and let others do.