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Messages - bitcrab

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中文(Chinese) / Re: bitCNY/bitUSD的进化
« on: May 12, 2019, 10:44:05 am »
抵押品用 GDEX.BTC GDEX.ETH GDEX.EOS,作为 bitcny 的补充,曲线救国。



General Discussion / Re: Price Feed Review
« on: May 10, 2019, 07:58:09 am »
Again, our feeds are not every second. It's a price snap shot taken within some specific period 20-40 minutes (2 in your case) so it's an unreasonable statement based on some snapshot in time. price feeds should average out to a true price among all witnesses. Look at the screen shots later on, my price happen to be 2% above on the other side of that price medium is that a warning also?
And when will GDEX start feeding all prices? Should be unvoted  by proxies until it does.

feed price should reflect the real market price, 20-40 minutes as price taking period is not acceptable.

"the higher, the better" is not my opinion. but now the main problem of feed price is some witnesses always feed too low price. we need to focus on this.

it's not difficult for me to request my coder to add feed price to all the smartcoins, but I am not sure that will make big sense.

taking bitEUR as one example, it has a supply of 57000 EUR and 24hour volume is about 4000 BTS, there are many users and important community members that come from Europe, but anyone care bitEUR?

if we really want to cultivate bitEUR, we need to consider to change something, such as MSSR, MCR, market fee etc., but seems no one want to do that.

General Discussion / Re: Price Feed Review
« on: May 10, 2019, 07:47:51 am »
only got round to accessing my feed script today just now.

My feed was actually the highest just now without changing anything a few hours later...I know we all wish BTS never moved down but guess does....are we gonna have this discussion and people calling hard-working witnesses names EVERY time BTS moves down? Let me know so I can be prepared. It's's goes up and and it goes down. I don't like it either but it happens.

Still... I disabled the outlier CoinEgg component of the feed as it seems untrustworthy. Feed now 4% above median

I don't think the higher feed price, the better, feed price should reflect the real market price. as feed price will have direct impact some operation, such as margin call, borrowing, force settlement.

it is not easy to judge what is "real market", but at least we can have some principles:

first, it is to get DEX price plus with smartcoin premium/discount as a reference, this is the most important reference.

second, it's not good to get average price of too long period and feed, an average of 5 min should be fine.

General Discussion / Re: Price Feed Review
« on: May 09, 2019, 01:47:50 pm »
While we are at it, I started working on a python project that is supposed to automatically disapprove (unvote) witnesses that provide inaccurate feeds (relative to price feed) here:

Any development resources to improve that would be welcome.

that's great.

I also would like to have one tool to provide convenience to voters to estimate witnesses' work.

say, integrate all the price feed data from each witness to a candle chart, with modified DEX price, that will also help a lot.

General Discussion / Re: Price Feed Review
« on: May 09, 2019, 12:18:23 pm »
Time: UTC 9th May 12:15

Warning:delegate-1.lafona, sahkan-bitshares, witness-hiblockchain, zapata42-witness, xeldal at the time feed a 2%+ lower price than reasonable.

General Discussion / Re: Price Feed Review
« on: May 09, 2019, 11:38:43 am »
Time: UTC 9th May, 19:30

at the time in in huobi BTS price is 0.0507 USDT, USDT OTC price is 6.85 CNY fiat, then 1USDT = 1.004USD, 1BTS = 0.0509USD
this value is consistent to DEX price.

Warning: xeldal feed a price of 0.0496USD, 2.6%+ lower than the reasonable price, please review your price feeding script.

General Discussion / Re: Price Feed Review
« on: May 09, 2019, 10:49:58 am »
Fixed. High volume but huge spread in CoinEgg causing huge different in witnesses' price feed.

Compare trading price/volume at different exchanges:

Orderbook in CoinEgg:

this remind us that it's important to filter out the data which is inconsistent with real market, "the price feed should not conflict with the DEX price plus an bitCNY premium/discount offset" can be a good reference in judging the data from CEXs.

BTS need to encourage bitCNY supply when it is in obvious premium and shortage.

a lower MSSR can help to make the yellow order highly placed and create chance for traders to borrow more with low CR and get profit.

I have explained this idea at

there is a price called "switch price", at which BTS/bitCNY pair switch from "margin call orders is eaten instantly" to "yellow orders highly placed" status, this price is relevant to market depth, market emotion and MSSR, currently the switch price for bitCNY is about lower than 0.4CNY.

if the price is below switch price, traders get incentive to borrow more and buy BTS, however there is accumulated risk; if the price is above switch price, yellow orders will be eaten instantly and no risk accumulated, but traders are not so incentivized to borrow more.

for bitCNY it will be good to make the switch price  a little higher by lowering MSSR, it will encourage bitCNY supply and also lower the premium.

set MSSR=1.01 for bitCNY is a good choice, let's do that!

中文(Chinese) / Re: bitCNY/bitUSD的进化
« on: May 09, 2019, 07:29:52 am »







General Discussion / Re: Price Feed Review
« on: May 09, 2019, 05:11:40 am »
CNY price feed review:
time: UTC 9th May 5:01

BTS price calculated from DEX price and bitCNY premium/discount:0.35061*[1+(2.65%+1.91%)/2) = 0.3586

Warn: bangzi, clockwork, roelandp feed a price which is 5.4%+ lower than the reasonable price at the time, please review your feeding scripts.

General Discussion / Price Feed Review
« on: May 09, 2019, 04:59:06 am »
This thread is to replace

Feed Price is so important that we need some mechanism to review/audit it.

If anyone in BTS community find that some witnesses do bad in price feeding, please provide proof here to show to all, voters should also get information from thread and decide to support or not support which witnesses.

In bitCNY price feed, I'd like to emphasize one principle,which get strong consensus from China community: the price feed should not conflict with the DEX price plus an bitCNY premium/discount offset.


As the poll worker proposal 1.14.187 has been voted active and got more support than the "do not change" worker proposal 1.14.188, MCR of bitUSD will change from 1.75 to 1.6.

The change will happen after  UTC 00:00 13th, May, 2019.

Every witness is requested to update the feeding script to publish 1.6 as MCR of bitUSD, please do the job after UTC 00:00 13th, May, 2019 and finish before UTC 00:00 15th, May, 2019.

For more information about the poll for this change, please check





你只是猜测“ 也许”, 以四毛当时的市场情绪, 就是MSSR=1.10,也是随爆随吃。








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