Here...take your pick....




I'm getting tired of this.

We can't simply publish high prices because it suits some people.

same goes for low prices.

that's why I suggest to feed price based on DEX price and bitCNY premium/discount.

who know where there is an CEX has a price of 0.399? if there is, just arbitrage between it and DEX.

Quote from: sahkan on April 12, 2019, 08:10:09 am

I think you meant to say that you "unvoted" us. Seems to me that  everyone is within the specified 4%. Also I am one of the few (if not the only one) that uses paid price feeds so my feeds report changes a bit faster than the rest of the network.

mine are paid too fwiw

paid price feeds does not mean good price feeds.

it's not difficult to know what is the exact BTS price at a moment without rapid price change.

when I do below screenshoting, DEX price is of 0.4266, bitCNY has a premium of about 1.8%, BTS price should be about 0.434CNY.
at huobi BTS has a price of 0.0629 USDT and in OTC market 1USDT = 6.92CNY, so BTS price should be 0.435CNY.
but both paid price feeds gave price 1%+ lower than the market price.

I open this thread and poll to provide a place for community to express their opinion on bitCNY price feeding.

good price feeding is so important, without it we cannot make bitCNY pegged well enough, and cannot convince users that BTS is a dependent financial system.

I hope that anyone vote here can at the same time provide proof and explanation on your selection.

 

Quote from: bitcrab on April 11, 2019, 09:59:31 am

你改得不对，逻辑是：正常情况下取内盘修正价，极端情况，比如内盘突然拉盘，或者外盘突然砸盘时另行处理。
"内盘修正价>1.1*外盘价" 是用来定义极端情况的。
当然的确有点不平滑，而且如果外盘砸盘时也不应该简单取外盘。
或者这样：
if 内盘修正价>1.1*外盘价
   喂价 = （内盘修正价+外盘价）/2
otherwise
   喂价 = max（内盘修正价，外盘价）

这样可以的。实际上内盘突然拉盘且超过外盘十个点，概率太小了。总之内盘有了喂价定价权就总算是给了多头一点机会。

关于内盘修正价
内盘修正价=内盘价*（1+cny溢价率）
目前bitcny最大的交易市场就在鼓鼓，所以暂时用鼓鼓的充值费率代替溢价率我认为是可以的，以后有其他的市场发展起来再加入也可以啊。

只要你给镰刀创造收割的机会，哪怕万分之一的概率镰刀也会让事件发生。

Quote from: zhouxiaobao on April 10, 2019, 03:17:24 am

Quote from: bitcrab on April 09, 2019, 07:07:34 am

Quote from: binggo on April 09, 2019, 04:44:49 am

这样猴子就可以尽情抵押拉盘.

if 内盘修正价>1.1*外盘价
   喂价 = 外盘价
otherwise
   喂价 = max（内盘修正价，外盘价）

可以防止猴子拉盘了吧？

if 内盘修正价>1.1*外盘价
   喂价 = 1.1*外盘价
otherwise
   喂价 = max（内盘修正价，外盘价）

是不是应该这样啊，蟹老板。

巨蟹的这个方案有点不平滑,  而且1.1的余量会使喂价太高了, 都10%了,  而且max（内盘修正价，外盘价）可能会使喂价变化太快, 内盘一爆仓,或者有大户砸盘, 就会迅速下滑, 喂价就会上窜下跳.

你改得不对，逻辑是：正常情况下取内盘修正价，极端情况，比如内盘突然拉盘，或者外盘突然砸盘时另行处理。
"内盘修正价>1.1*外盘价" 是用来定义极端情况的。
当然的确有点不平滑，而且如果外盘砸盘时也不应该简单取外盘。
或者这样：
if 内盘修正价>1.1*外盘价
   喂价 = （内盘修正价+外盘价）/2
otherwise
   喂价 = max（内盘修正价，外盘价）

recently, bitCNY price feed is always 1%-2%+ lower than DEX price, at the same time , bitCNY still has an about 0.3% premium.

as bitCNY has a 2% force settlement offset, this provide chances for speculators to exploit debt position owners, this is not reasonable.

and at the same time, we heard many traders complained that the witnesses doing bad in price feeding, and this unconvinced them that BTS worth trust.

I feel we need to pay more attention on this, and need to review how to guarantee the price feed well enough.





my first consideration is that, we need to give the DEX price more weight, because:

1. price feed are serving DEX margin trading, naturally DEX price should have most weight.
2.DEX BTS/bitCNY pair has the biggest volume without any faking.
3.BTS/bitCNY is the closest price we can get, and is most direct, prices from other CEXs need always convert from USDT/BTC, many distortion there.

but at the same time, we cannot depend only on DEX price, as there's possibility that whales borrowed and manipulate market.

I suggest such an CNY price feeding algorithm for reference:

Pdex: DEX price that has been modified by bitCNY premium/discount factor
Pcex: price get from CEX

if Pdex>1.2*Pcex:  ## to cope with unusual exreme issues.
   Pfeed = Pcex
otherwise:
   Pfeed = max(Pcex, Pdex)

I am just kiding.
there is big problem in this strategy, witness who use this strategy will lose my support.

the current price feed also have big problem, we need to find some solution for this.
otherwise, maybe we have to reset the force settlement offset back to 5%.