BitShares Forum

Main => General Discussion => Topic started by: biophil on June 21, 2017, 11:15:33 pm

Title: BitCNY Price discrepancy
Post by: biophil on June 21, 2017, 11:15:33 pm

I have been watching the BitCNY price slide downwards relative to bitUSD for the past several weeks. Right now, by dividing bitUSD and bitCNY price feeds, the implied bitCNY/bitUSD price is about 0.133. On the other hand, Google gives the exchange rate between CNY and USD at 0.146.

Why the discrepancy between exchange rates?

Title: Re: BitCNY Price discrepancy
Post by: R on June 22, 2017, 03:18:56 am

Vote for witnesses who provide accurate price feeds.

Title: Re: BitCNY Price discrepancy
Post by: Troglodactyl on June 22, 2017, 03:22:47 am

Price feeds are defined in terms of BTS, and BTS has been trading higher on Chinese exchanges recently than on other exchanges.

Title: Re: BitCNY Price discrepancy
Post by: biophil on June 22, 2017, 02:54:36 pm

Quote from: Customminer on June 22, 2017, 03:18:56 am

Vote for witnesses who provide accurate price feeds.

Not as simple as that. Trog is right - BTS has a different price in China than in the US. It'll even back out.