BitShares Forum
Main => General Discussion => Topic started by: abit on October 16, 2019, 12:23:59 pm
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There is an ongoing discussion about a protocol change that Decouples BitAssets from Platform Governance: https://github.com/bitshares/bsips/pull/238 . Before it finally gets on chain (also possible it won't), the committee can already do something with current protocol.
I created 2 committee proposals to remove the "witness_fed_asset" flag from bitCNY and bitUSD.
https://cryptofresh.com/p/1.10.50330
https://cryptofresh.com/p/1.10.50333
If the proposals got approved by the committee, active witnesses would be no longer responsible for feeding price for bitCNY and bitUSD, instead, the committee would be responsible for explicitly updating the list of feed producers for bitCNY and bitUSD. Other assets won't change this time.
One topic to discuss is, the feed producers will be paid according to their performance. The funds to pay the feed producers are from market fees. (Note that bitCNY has much higher market fee income than bitUSD.)
The initial price feed producers would be active witnesses, they'll not get paid in the beginning.
If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.
If you aren't an active witness, but have interest in feeding price for bitCNY and/or bitUSD, please also leave your message.
Thanks for participation.
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The initial price feed producers would be active witnesses, they'll not get paid in the beginning.
Are you 100% certain of this? I don't want to end up with expiring feeds if this was not the case!
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Create just private MPA with your homy, stop scamming bitAssets
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Witnesses are busy, is not uncommon witnesses never check price feed and let it expire for few days before someone inform them. I believe if committee empower a group of oracles/price feed producers who can monitor and correct price feed 24/7 would be much better.
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报名
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By what standard will new price feeders, which will need to be approved by the committee need to meet? What standards on price will the committee set? I am happy to consider any formulas for price feeding. This is very important to understand
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The initial price feed producers would be active witnesses, they'll not get paid in the beginning.
Are you 100% certain of this? I don't want to end up with expiring feeds if this was not the case!
It's my proposal. Anyone who have a different proposal please describe it.
By what standard will new price feeders, which will need to be approved by the committee need to meet? What standards on price will the committee set? I am happy to consider any formulas for price feeding. This is very important to understand
What's your proposal about the standards? I'm interested to hear.
报名
Please describe what/how you will do, what resources do you have, and etc.
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If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.
As an active witness (in.abit) I'd like to continue feeding price for bitCNY and bitUSD according to the consensus, at this moment, the voting result of BSIP76.
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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.
Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?
https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds
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Price Feeders who are interested but unable to register new forum account can register at Chinese forum:
本论坛目前不能注册新账号，如果您有兴趣成为预言家/喂价提供者可以去中文论坛注册：
https://dpos.club/t/topic/104
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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.
Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?
https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds
There is currently no market on DEX.500k BTS dump and you tank the price to 0
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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.
Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?
https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds
There is no market on DEX.500k BTS dump and you tank the price to 0
That would be just a spike. We can defend against such kind of attacks. But consider that changing price-feeds source to the dex would very fast increase liquidity in my opinion because of new opportunity's for profit... I see many willing to open limit orders or using the DEX bot...
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I created 2 committee proposals to remove the "witness_fed_asset" flag from bitCNY and bitUSD.
https://cryptofresh.com/p/1.10.50330
https://cryptofresh.com/p/1.10.50333
Thanks @abit . I support this.
I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.
I have often pointed out that this will create a feedback loop, because the feed price already affects trading activity on the DEX. Feedback loops are inherently unstable and dangerous, and should be avoided.
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gdex.witness would like to work as price feeder and follow BSIP76.
I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.
I have often pointed out that this will create a feedback loop, because the feed price already affects trading activity on the DEX. Feedback loops are inherently unstable and dangerous, and should be avoided.
exactly.
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https://cryptofresh.com/p/1.10.50330
https://cryptofresh.com/p/1.10.50333
If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.
If you aren't an active witness, but have interest in feeding price for bitCNY and/or bitUSD, please also leave your message.
Thanks for participation.
It is right. These BSIP76 innovations are necessary. We understand the importance of adjustments. This offer is necessary for the Bitshares at the moment. We support this proposal.
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Price Feeders who are interested but unable to register new forum account can register at Chinese forum:
本论坛目前不能注册新账号，如果您有兴趣成为预言家/喂价提供者可以去中文论坛注册：
https://dpos.club/t/topic/104
謝謝你
我們將在論壇上註冊。
thanks for the opportunity. it greatly strengthens friendships and helps blockchain technology progress
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witness.hiblockchain would like to continue price-feeding , and follow BSIP76 rules
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As a committee member, I support the decoupling of price feeding from block production, making them two separate roles.
Therefore I am supporting the two committee proposals.
I am also willing to feed prices for BitUSD and BitCNY according to what is deemed necessary by stakeholders through their achieving-consensus rules.
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delegate-zhaomu would like to continue providing price feeding service according to the community's consensus.
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zapata42-witness would like to continue providing price feeding service according to the community's consensus.
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If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.
As an active witness (witness.yao) I'd like to continue feeding price for bitCNY and bitUSD according to the consensus, at this moment, the voting result of BSIP76.
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active witness (xn-delegate) I'd like to continue feeding price for bitCNY and bitUSD according to the consensus, at this moment, the voting result of BSIP76.
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btspp-witness would like to continue providing price feeding service according to the community's consensus.
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And there you have it. Witnesses are willing to do the price feed (because, wow - they are the most qualified?) and there is no need to de-couple the price feeding from witnesses. But there is a need to to stop the fake price feeding and fix the smart coins to fulfill the DEX promise of a smart coin being the same value as the RL asset it represents.
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roelandp would like to continue providing price feeding service according to the community's consensus.
i hope the consensus changes somewhat tho :)
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I don't really understand the logic of this. What is being said here is that the committee is free to change the roles of witnesses. Is that actually the case?
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according to the community's consensus.
There is no consensus wrt the price feed. A decision was made by a majority of stake.
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Witness ioex would like to continue providing price feeding service according to the community's consensus.
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delegate.freedom would like continue providing price feeding. Follow BSIP76 rules.
Link is here . https://dpos.club/t/topic/104/13
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liondani would like to continue providing price feeding service according to the community's consensus
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Every one of you who supports manipulation of the price feeds is part of the fraud and will be responsible for the outcome, shame on you
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Every one of you who supports manipulation of the price feeds is part of the fraud and will be responsible for the outcome, shame on you
Nobody supports manipulation of feeds. Just following majority of stake voting. If witnesses would do what ever they personally wanted then we would have probably a bigger problem. What will you say if it ends up in favour of bts future? I see it just as a transition period with no permanent bad results.
The only thing you can do is trying to convince stake holders for their vote "mistake". Calling names and blaming will not get you there.
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yep faking feeds is just following the orders, I've already heard it somewhere,
I don't care how you excuse yourself when you supporting fraud, but fraud is a fraud.
https://en.wikipedia.org/wiki/Witness - if you forgot what this word means