Author Topic: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)  (Read 13084 times)

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Offline yvv

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #30 on: March 23, 2016, 01:14:17 am »
Holy crap! The War of Indexes has started. Strip your rockets gentlemen, aim, charge!


Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #31 on: March 23, 2016, 01:34:15 am »
Holy crap! The War of Indexes has started. Strip your rockets gentlemen, aim, charge!
Lol ;p

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Offline karnal

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #32 on: March 23, 2016, 12:30:42 pm »
Wouldn't a Top 5 or 10 make more sense than 20?

At least today, we can find ~10 interesting, original, promising crypto projects.

Offline liondani

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #33 on: March 23, 2016, 01:10:50 pm »
Wouldn't a Top 5 or 10 make more sense than 20?

At least today, we can find ~10 interesting, original, promising crypto projects.

 +5%

Offline Empirical1.2

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #34 on: March 23, 2016, 01:20:38 pm »
+5% +5% +5%  for the initiative !!!


some thoughts...

I think if you want to stick to the "best" 20 crypto's you should use the first 20 with the biggest volume NOT the 20 with the  biggest marketcap.... because we will see many shitcoins on the list very often....
if bit20 is depended from marketcap only it will be very misleading...  And not only use the 24h volume of course... we can use the top 20 crypto with the biggest weekly or monthly volume....

if you want to stick only with the marketacap then I prefer a bit10 index instead of the bit20 so that crap coins get out-filtered...

I support this point. Market cap is a bad measure of performance. Issue trillions of shit coins and get #1 market cap. Look at ripple for example. Trade volume is the only good way to evaluate crypto token performance.

trade volume is also easily faked

It depends what exchanges you reference I guess. You can't fake volume very easily/for very long when you're paying 0.2% per trade can you?

(Coinmarketcap for example excludes the BTC exchanges with no fees from their calculations http://coinmarketcap.com/currencies/bitcoin/#markets )
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Offline liondani

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #35 on: March 23, 2016, 02:18:35 pm »
You can't fake volume very easily/for very long when you're paying 0.2% per trade can you?

except you are the exchange owner... so the fees come back to you...

Offline Creat0r

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #36 on: March 23, 2016, 02:37:47 pm »
Wouldn't a Top 5 or 10 make more sense than 20?

At least today, we can find ~10 interesting, original, promising crypto projects.

Agree with you, at this moment 10 will be better.

Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #37 on: March 23, 2016, 04:24:53 pm »
You can't fake volume very easily/for very long when you're paying 0.2% per trade can you?

except you are the exchange owner... so the fees come back to you...

That's why I first consider the MC, because it's the only thing you can't fake. The only way to manipulate the MC is by pouring your money in the coin ;p
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Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #38 on: March 23, 2016, 04:26:48 pm »
Wouldn't a Top 5 or 10 make more sense than 20?

At least today, we can find ~10 interesting, original, promising crypto projects.

Agree with you, at this moment 10 will be better.

It depends on how your index is weighted. 10 seems a little to small to me, lots of good coins from 10 to 20. Obviously, they don't have the same weight that the top ones.

Bit20, the cryptocurrency index fund http://www.bittwenty.com
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Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #39 on: March 23, 2016, 04:30:52 pm »
A few month ago, there was a debate on the "PERCENT OFFSET OF FORCED SETTLEMENTS" and the "MAX FORCE SETTLE VOL" for BitUSD and other smartcoins. I think TCNY have done it differently that BitUSD.

They are set by default that way  :

Force settlement offset   1%
Max force settle vol   20%

Do someone have an opinion on wich kind of values would fit better to an index ?
« Last Edit: March 25, 2016, 03:18:55 pm by EstefanTT »
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Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #40 on: March 25, 2016, 06:35:56 pm »
I'm still wondering about the default % of these two, is that seem ok for the index ?

Force settlement offset   1%
Max force settle vol   20%

I'm now wondering about the permission, I would choose these ones :

Enable market fee
Allow issuer to force a global settling
Allow witnesses to provide feeds

I don't understand the difference between permissions and flags, it seems the same to me ...

I'm almost done the website, it has been a crazy week with very little sleep and a lot of <#/'=var"@! ... I just need some precision to these grey areas and I will be ready to go live with the web site and actually create the index on the DEX.
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Offline xeroc

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #41 on: March 25, 2016, 06:44:03 pm »
I don't understand the difference between permissions and flags, it seems the same to me ...
If you have permissions enabled you MAY use those features but don't need to do so ..
You can ACTUALLY enable a feature by enabling the corresponding FLAG!

Note, that, once you have disabled a PERMISSION!! you cannot re-enable it. It is like an indefinite opt-out!
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Offline Empirical1.2

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Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #42 on: March 25, 2016, 06:50:40 pm »
I'm still wondering about the default % of these two, is that seem ok for the index ?

Force settlement offset   1%
Max force settle vol   20%

If I was too guess, I would think you might have more people willing to go long than short, so you would probably want to offset that with settings that are more favourable for shorters. A force settlement offset of 5% should be more positive for people shorting the index as they would be less worried that they are going to be force settled against unexpectedly. I think, I'm not sure about that though.

You can't fake volume very easily/for very long when you're paying 0.2% per trade can you?

except you are the exchange owner... so the fees come back to you...

That's why I first consider the MC, because it's the only thing you can't fake. The only way to manipulate the MC is by pouring your money in the coin ;p

A lot of cryptos claim to have X supply on the market but you can't be sure they really distributed them, so their market cap is inflated but this is often obvious by their much lower volume.

(As an extreme example, have an ICO for 100 million coins, raise 100 BTC but 99.9 BTC actually came anonymously from you. Now there's only 100 000 coins on the market you don't own. Building their price up to $1 a coin would be fairly cheap and now your DAC/Coin would be valued at $100 million, but it would be clear your market cap is inflated because of the low volume.)
« Last Edit: March 25, 2016, 07:11:07 pm by Empirical1.2 »
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Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #43 on: March 25, 2016, 09:12:17 pm »
I don't understand the difference between permissions and flags, it seems the same to me ...
If you have permissions enabled you MAY use those features but don't need to do so ..
You can ACTUALLY enable a feature by enabling the corresponding FLAG!

Note, that, once you have disabled a PERMISSION!! you cannot re-enable it. It is like an indefinite opt-out!

Thanks for the explanation, make more sense now.

I was going to enable these 3 permissions :

# Enable market fee
# Allow issuer to force a global settling
# Allow witnesses to provide feeds

I'm not sure if I'm missing something important. Do you know a place where I can read more info about these permissions ?
« Last Edit: March 26, 2016, 12:33:08 am by EstefanTT »
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Offline EstefanTT

Re: BIT20 Smartcoin, top 20 cryptos weighted index (ETF like)
« Reply #44 on: March 27, 2016, 02:41:19 pm »
I've just created the INDEX on the testnet : http://testnet.bitshares.eu/#/market/BITSOMETHING_TEST
I will test it there until I have it right and then create it on the DEX. I'm now trying to understand the process of proving the price feed.

I'm also almost done with web site. I'm loooking for someone to review the explanations in english I have made about the index.
All the texts to review are regroup in a google doc of 1000 words, less than 2 pages. I need a english native person who will be able not only to review orthography but also re-shape the sentences in an serious and elegant way if necesary (not all the text sentences but some sentences will defenitively need this). My english is not good enough to let the texts as I wrote them.

It would take probably less that an hour to do that. Is someone interested in making 1000 bts by helping me with that, shoot me a PM !

Bit20, the cryptocurrency index fund http://www.bittwenty.com
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