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Messages - biophil

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121
Stakeholder Proposals / Re: BitSuperLab please fix your feeds
« on: March 17, 2015, 01:31:43 am »
I guess I should just go design a feed-prediction attack and make money myself, since people seem so hard to convince.

At the very least, feed scripts should randomize update times. I'll leave it at that until I can give a better argument.

122
Stakeholder Proposals / Re: BitSuperLab please fix your feeds
« on: March 16, 2015, 03:03:27 pm »
@Gentso- do you believe there is any such thing as a perfectly accurate price? What's the spread at btc38? 1%? 0.5%? Which price is the price you think is "correct?" The bid or ask? The price of the last trade? I think you'll agree with me that none of those are quite right; you'd almost always be more interested in something between the bid and ask. So what do you pick? The average? A recent moving average of market prices? Those sound better, but they're still only estimates. Maybe I'm being long-winded, but I'm trying to make the point that there isn't ever 1 price and the best you can ever do is estimate it. So adding in 0.2% noise will still give an accurate price feed, especially if everybody is doing it and all the noise averages out.

@Xeroc, I haven't actually designed a manipulation algorithm to exploit feed price prediction, but isn't it obvious that a noisy feed would be better than a predictable one? I'm working from this principle: if I can execute trades on btc38 and predict exactly what that will do to the price feed, then I can make money moving the price feed around. Probably a fraction of a percent per trade, but the fact is I'll be taking money from the system without providing any benefit. Doesn't that sound like something we should try to prevent?

maybe we can find a compromise and have a randomness in-line with the lowest spread of your exchanges .. if btc38 says 1% you may add randomness with a spread of less than 1% with confidence >90% or so ..
Yeah, that's more or less what I had in mind.

Another way to do it halfway is to randomize update times. Update every 20 minutes plus or minus 5.

Also there should be no hard triggers that push a new price with 100% certainty, because those could be pretty easily exploitable. Again, based on the principle that a deterministic price feed is exploitable.

123
Stakeholder Proposals / Re: BitSuperLab please fix your feeds
« on: March 16, 2015, 02:21:32 pm »
@Gentso- do you believe there is any such thing as a perfectly accurate price? What's the spread at btc38? 1%? 0.5%? Which price is the price you think is "correct?" The bid or ask? The price of the last trade? I think you'll agree with me that none of those are quite right; you'd almost always be more interested in something between the bid and ask. So what do you pick? The average? A recent moving average of market prices? Those sound better, but they're still only estimates. Maybe I'm being long-winded, but I'm trying to make the point that there isn't ever 1 price and the best you can ever do is estimate it. So adding in 0.2% noise will still give an accurate price feed, especially if everybody is doing it and all the noise averages out.

@Xeroc, I haven't actually designed a manipulation algorithm to exploit feed price prediction, but isn't it obvious that a noisy feed would be better than a predictable one? I'm working from this principle: if I can execute trades on btc38 and predict exactly what that will do to the price feed, then I can make money moving the price feed around. Probably a fraction of a percent per trade, but the fact is I'll be taking money from the system without providing any benefit. Doesn't that sound like something we should try to prevent?

124
Stakeholder Proposals / Re: BitSuperLab please fix your feeds
« on: March 16, 2015, 03:15:00 am »
One more fairly obvious item you should add to the list is:

Always multiply your published price by a random number that is close to 1; maybe within a quarter percent of one. It's an easy step that makes the price feed that much less predictable and improves security against precision market manipulation.

125
General Discussion / Re: An attack on DevShares
« on: February 09, 2015, 07:21:13 pm »
I like this. Gonna go get some popcorn.

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126
Technical Support / Re: Comming from NXT and confused.
« on: February 08, 2015, 04:48:53 pm »
...
So now onto the main question. I need delegates that (upon receiving my stake), will reward me with part of their profits.

There aren't any I think.

That's somewhat amazing and incredibly beautiful. Not a single case of myopic vote-buying. :)

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127
BTS: zebulon

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128
They did what xeroc said and found the deposit. Thanks!

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129
Last week I'm quite sure I sent a deposit of 13,396 to Bter. I have screenshots of my client with all the "btercom" transactions filtered out, and my deposit shows up in that list.

However, Bter tech support tells me it's not showing up in the Bter wallet! Does anybody have any idea what this could mean? The txid prefix is 142a3e31, and you can see it's a transaction in this block: http://bitsharesblocks.com/blocks/block?id=1575565

Is there anywhere my deposit could have gone except to Bter? Does Bter need to re-scan? This happened around the time 0.5.0 came out; maybe the deposit came in while they were updating and somehow didn't get scanned properly by their wallet?

Is there a way they could scan my transaction in particular to verify that it's to them?
Please verify from your transaction history that the receiver is indeed "btercom"

I am confident that bter.com already knows how to handle theses issues.
They have two options:

- rescan 1575565 .. which contains the transaction
- wallet_verify_titan_deposit 142a3e31

the first one should make the transaction appear while the second one would tell them if the transactions is redeemable by them (read: you indeed sent to btercom).

From the observerspoint of view there is no way to figure out where the tx went to and who can redeem the funds. but btercom should be able to check if THEY can ..

Ok, will suggest those to tech support.

I *think* I'm sure I sent it to btercom. Is there any possible way I could have literally typed the letters "btercom" but then the transaction went somewhere else? Lol.

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why don't you click on your account name and check your  "Recent Transactions" on the gui ?

I've done that; I filter by account name btercom and get a nice complete list of my dealings with Bter. I'm positive I sent it to them. Because of TITAN, the only way I can prove it is by sending them my wallet and password, haha.

For the future, how do public accounts work? If a public acct sends to a TITAN account, how public is the transaction? In this situation, I'm cursing TITAN a little for protecting my privacy so well.

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130
Last week I'm quite sure I sent a deposit of 13,396 to Bter. I have screenshots of my client with all the "btercom" transactions filtered out, and my deposit shows up in that list.

However, Bter tech support tells me it's not showing up in the Bter wallet! Does anybody have any idea what this could mean? The txid prefix is 142a3e31, and you can see it's a transaction in this block: http://bitsharesblocks.com/blocks/block?id=1575565

Is there anywhere my deposit could have gone except to Bter? Does Bter need to re-scan? This happened around the time 0.5.0 came out; maybe the deposit came in while they were updating and somehow didn't get scanned properly by their wallet?

Is there a way they could scan my transaction in particular to verify that it's to them?
Please verify from your transaction history that the receiver is indeed "btercom"

I am confident that bter.com already knows how to handle theses issues.
They have two options:

- rescan 1575565 .. which contains the transaction
- wallet_verify_titan_deposit 142a3e31

the first one should make the transaction appear while the second one would tell them if the transactions is redeemable by them (read: you indeed sent to btercom).

From the observerspoint of view there is no way to figure out where the tx went to and who can redeem the funds. but btercom should be able to check if THEY can ..

Ok, will suggest those to tech support.

I *think* I'm sure I sent it to btercom. Is there any possible way I could have literally typed the letters "btercom" but then the transaction went somewhere else? Lol.

Sent from my SCH-S720C using Tapatalk 2


131
Last week I'm quite sure I sent a deposit of 13,396 to Bter. I have screenshots of my client with all the "btercom" transactions filtered out, and my deposit shows up in that list.

However, Bter tech support tells me it's not showing up in the Bter wallet! Does anybody have any idea what this could mean? The txid prefix is 142a3e31, and you can see it's a transaction in this block: http://bitsharesblocks.com/blocks/block?id=1575565

Is there anywhere my deposit could have gone except to Bter? Does Bter need to re-scan? This happened around the time 0.5.0 came out; maybe the deposit came in while they were updating and somehow didn't get scanned properly by their wallet?

Is there a way they could scan my transaction in particular to verify that it's to them?

132

I run the market maker bot on bter to make money. It provides liquidity but it trades on a spread against bitstamp's BTC price. It has the side effect of also supporting the peg. This isn't false volume in IMHO as even non Bitshares supporters would do this to make money.

Changes I just submitted:

1) config.json now supports new parameters MinBal_Quote, MinOrder, and Base.

2) Logic changed to use all funds in your account up to the MaxOrder parameter with an order no smaller than MinOrder that also does not put the account below MinBal_Quote.

For example if you set MinBal_Quote to 1 and MinOrder to 0.5 and MaxOrder to 5 it would use all the funds in both bitUSD and BTC to submit orders of value 0.5 BTC or greater up to 5 BTC that still leaves 1 BTC of value in both BTC and bitUSD.

Questions for you:
1. do you actually make money? I'm running a market maker bot of my own design on the same trading pair and it's actually been a surprisingly good volatility-hedging machine, but I'm certainly not netting any profits in USD.

2. Are you aware that your bot (I assume it was yours; could be wrong) was offering almost $1000 of a 4% arbitrage opportunity yesterday? If I had had the funds in the right places, I could have sold bitUSD on the BTS exchange, sold BTS for BTC on bter, and then bought your cheap bitUSD with the BTC, earning 4% net of fees. This is a PSA more than anything; I just wanted to let you know that you're frequently offering the world significant portions of your surplus. And, if I keep seeing these juicy arbitrage opportunities, I don't think I'll be able to keep myself from writing an arbitrage bot. :)

133
General Discussion / Re: Crypti Goes DPOS
« on: January 26, 2015, 03:07:05 pm »
Anybody know what's happening? Are they cloning BTS or writing their own implementation?

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134
AFAIK, Poloniex is US-based. Just to nitpick.

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135
Maybe someone could create a 100% delegate and fund a bot with a portion of the proceeds.  That way we could more directly compete with nubits.  You wouldn't have to risk your own money and you could help bootstrap these assets on the exchanges and get paid at the same time.  Perhaps you could even optimise this bot to be profitable over time.  As you get more and more capital, you could bootstrap other bitassets on the exchanges.  Maybe 50% of the pay could go to fund the bot and 50% pay kept by the delegate for her work in maintaining the bots.

Rather than repeat what has already been discussed, I will just point to https://bitsharestalk.org/index.php?topic=13334.msg174476#msg174476:
We need market makers who run bots on centralized exchanges. Maybe another opportunity for paid delegate?

Sounds like an opportunity for *anyone who wants to make money*. We don't need to PAY people to make money, and we don't need to support artificial walls which will disappear when we pull the plug but prevent real market makers in the meantime.

Sure, except that toast is VASTLY overestimating how much money there is to be made net of exposure to BTC volatility. I quite like the idea of a delegate acting as a market-maker loss-leader.

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