BitShares Forum
Main => General Discussion => Topic started by: paliboy on September 19, 2017, 08:23:27 am
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Hi all,
since BitShares bitCNY feed depends on prices on external centralized exchanges and probably all of Chinese ones will stop trading soon, what implications does it have on BitShares? Will it influence stability of bitCNY? Do we have contingency plan for bitCNY?
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We will likely do conversion from BTS->USD->CNY to attain the feed price, but I'm not sure if the witnesses have this all figured out yet.
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very important question. witnesses please state your intentions.
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Wonder if we could create a worker to fund using something like this:
https://www.xignite.com/forex/product#ka0400000008SmZAAU
$3k per year would be easy to do via a worker and we would have at least one very, very solid feed that we never have to worry about.
$3k gets 1000 API hits per month, so all witnesses could hit it a few times per day to keep things in line.
For $13k/year witnesses could basically have a real time feed with unlimited API hits
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Here are some free feeds:
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TrueFX has free real-time (multiple updates per second) forex quotes, but only for a limited number of pairs: http://webrates.truefx.com/rates/connect.html?f=html
They also have free downloadable tick data for the same pairs, going back to May 2009: http://truefx.com/?page=downloads
You can get real-time quotes for a larger selection of pairs from FXCM: http://rates.fxcm.com/RatesXML
Realtime rates for about 40 currency pairs are available here: http://1forge.com/forex-data-api, eg: https://1forge.com/forex-quotes/quotes
They also have free downloadable tick-data, going back to 2007, but you need to create a demo account and use a COM based Windows API called Order2Go to retrieve it.
They promised that they will make available the same tick data in CSV format for free sometime this year here: http://www.forexcodesource.com/index.php/Category:Historical_Data
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We will likely do conversion from BTS->USD->CNY to attain the feed price, but I'm not sure if the witnesses have this all figured out yet.
The price feed will depend on Bitshares liquidity vs CNY. If there is a reliable exchange that has BTS:CNY pair we will use that, otherwise we will have to calculate the fair value of BTS in CNY based on the current USD:CNY pair.
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Consider BTC/CNY -> BTS/BTC too. Whichever has a higher volume.