BitShares Forum
Main => General Discussion => Topic started by: bitmarket on September 29, 2014, 09:25:15 am
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Hey guys,
- Can someone please explain or point me to a post that describes the significance of the feeds?
- Who posts them?
- Why are they motivated to post them?
- How does it benefit the community?
M
-
Hey guys,
- Can someone please explain or point me to a post that describes the significance of the feeds?
- Who posts them?
- Why are they motivated to post them?
- How does it benefit the community?
M
Here is a link https://bitsharestalk.org/index.php?topic=8358.0
Delegates publish and update their feeds (which in the end is just a number describing the ratio of BTSX/USD) at least once every 24h.
Delegates are motivated because they want to stay elected. Publishing a feed and updating it regularly is considered to be a criteria for being a valuable delegate.
It benefits the stability of the market peg. The rule is: It is not possible to short 10% above or below the price feed. This way the shorts can not compete for getting their shorts executed (in case there is more demand for shorts then for going long bitusd) by shorting lower and lower and therefore threatening the market peg.
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perfect. Thankyou
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Actually, current rules state that delegates should update feeds at least every 20 minutes may be more often if external exchange prices move quickly ..
current update rates per 24h can be found on bitsharesblock.com
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Hey guys,
- Can someone please explain or point me to a post that describes the significance of the feeds?
- Who posts them?
- Why are they motivated to post them?
- How does it benefit the community?
M
Here is a link https://bitsharestalk.org/index.php?topic=8358.0
Delegates publish and update their feeds (which in the end is just a number describing the ratio of BTSX/USD) at least once every 24h.
Delegates are motivated because they want to stay elected. Publishing a feed and updating it regularly is considered to be a criteria for being a valuable delegate.
It benefits the stability of the market peg. The rule is: It is not possible to short 10% above or below the price feed. This way the shorts can not compete for getting their shorts executed (in case there is more demand for shorts then for going long bitusd) by shorting lower and lower and therefore threatening the market peg.
The rule is all shorts occur at the price feed if there is someone willing to buy at that price and shorts are prioritized by collateral level.
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In the new UI when shorting there is a price you need to enter. If the price is defined by the feed, why is there a price, is that like a limit? Basically saying I won't short higher than that? Or is it I won't short lower than that? I'm confused and I must have missed the clean definition of how the new shorting works. Can we get a wiki with some graphics so people understand it better?
Also prioritized by collateral level in what direction? Again a page with some examples of pending shorts and which one takes priority would be great.
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In the new UI when shorting there is a price you need to enter. If the price is defined by the feed, why is there a price, is that like a limit? Basically saying I won't short higher than that? Or is it I won't short lower than that? I'm confused and I must have missed the clean definition of how the new shorting works. Can we get a wiki with some graphics so people understand it better?
Also prioritized by collateral level in what direction? Again a page with some examples of pending shorts and which one takes priority would be great.
!!!WARNING!!! Typical 'me' response follows....
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1. Enter 0 at that field if you want the order to execute!
2. Enter as much as possible in the next field!
3."Can we get a wiki with some graphics so people understand it better" - I am pretty sure we can.
.Also prioritized by collateral level in what direction? - Preferably towards 0, so we have less stable system...
;)
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In the new UI when shorting there is a price you need to enter. If the price is defined by the feed, why is there a price, is that like a limit? Basically saying I won't short higher than that? Or is it I won't short lower than that? I'm confused and I must have missed the clean definition of how the new shorting works. Can we get a wiki with some graphics so people understand it better?
Also prioritized by collateral level in what direction? Again a page with some examples of pending shorts and which one takes priority would be great.
Yes the price is a limit. When you short you are "selling" bitUSD into existance, so it is saying "I won't accept less than X number of BTSX for the bitUSD I am selling." You are of course always happy to take more BTSX per bitUSD than you are asking for, but it sets a lower limit on what you will take.
Hightest collateral is prioritized, meaning the shorts that are putting up the most collateral(BTSX) per bitUSD are prioritized and matched first.
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Ex-tonyk, you suck. It's a valid question and the steps you offered are plain dangerous.
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In the new UI when shorting there is a price you need to enter. If the price is defined by the feed, why is there a price, is that like a limit? Basically saying I won't short higher than that? Or is it I won't short lower than that? I'm confused and I must have missed the clean definition of how the new shorting works. Can we get a wiki with some graphics so people understand it better?
Also prioritized by collateral level in what direction? Again a page with some examples of pending shorts and which one takes priority would be great.
Yes the price is a limit. When you short you are "selling" bitUSD into existance, so it is saying "I won't accept less than X number of BTSX for the bitUSD I am selling." You are of course always happy to take more BTSX per bitUSD than you are asking for, but it sets a lower limit on what you will take.
Hightest collateral is prioritized, meaning the shorts that are putting up the most collateral(BTSX) per bitUSD are prioritized and matched first.
Thank you!
What wasn't clear is the limit price. In the past I read that overlap between bid and ask price will go to fees.
What if we did that with overlap between bid and short price? I.e. People willing to short will always get the price they asked for and difference between theirs and bids could go towards yields pay. This would also discourage shorting at 0 as ex-tonyk suggested.
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Ex-tonyk, you suck. It's a valid question and the steps you offered are plain dangerous.
actually the steps are correct!
the joke is after that...
PS
On the point of my suck-age, I think we can agree.
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The collateral field is it per BTSX or is it for the entire order?
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Hey guys,
- Can someone please explain or point me to a post that describes the significance of the feeds?
- Who posts them?
- Why are they motivated to post them?
- How does it benefit the community?
M
Here is a link https://bitsharestalk.org/index.php?topic=8358.0
Delegates publish and update their feeds (which in the end is just a number describing the ratio of BTSX/USD) at least once every 24h.
Delegates are motivated because they want to stay elected. Publishing a feed and updating it regularly is considered to be a criteria for being a valuable delegate.
It benefits the stability of the market peg. The rule is: It is not possible to short 10% above or below the price feed. This way the shorts can not compete for getting their shorts executed (in case there is more demand for shorts then for going long bitusd) by shorting lower and lower and therefore threatening the market peg.
The rule is all shorts occur at the price feed if there is someone willing to buy at that price and shorts are prioritized by collateral level.
Did that change? Wasn't it 10% on each side as a limit once?
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The collateral field is it per BTSX or is it for the entire order?
Per BTSX