Author Topic: Bit20 - The cryptocurrency index fund  (Read 17085 times)

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Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #45 on: May 21, 2017, 04:34:09 pm »
Bit20 - The cryptocurrency index fund [2017/05/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 33466725332 USD / 10 % / 1.3560949564735 coins / 2047.895 USD
ETH / 11377850088 USD / 10 % / 22.402660303053 coins / 123.9647454061 USD
XEM / 1987540515 USD / 10 % / 12575.472318352 coins / 0.220837835 USD
LTC / 1382715584 USD / 10 % / 102.82128131986 coins / 27.009389936 USD
DASH / 725308576 USD / 8.5034181874375 % / 23.794811670675 coins / 99.2450951061 USD
ETC / 655379046 USD / 7.6835739764117 % / 298.94180280172 coins / 7.137965 USD
XLM / 517353271 USD / 6.0653787360591 % / 31141.759425676 coins / 0.05408945 USD
XMR / 499540382 USD / 5.8565428704628 % / 47.191958490703 coins / 34.4644309352 USD
BCN / 437629790 USD / 5.1307115878504 % / 595554.65992168 coins / 0.00239251 USD
STEEM / 277727491 USD / 3.2560389829456 % / 760.23611010903 coins / 1.18943 USD
SC / 249203834 USD / 2.9216315435029 % / 85067.716440735 coins / 0.009538025 USD
BTS / 222005577 USD / 2.6027629117326 % / 8470.0114148986 coins / 0.0853391672 USD
DOGE / 205890538 USD / 2.4138324064853 % / 356364.47325837 coins / 0.001881094 USD
GNT / 205929879 USD / 2.4142936349693 % / 2685.6849971206 coins / 0.2496507084 USD
GAME / 205699490 USD / 2.411592585957 % / 204.41014892712 coins / 3.2764177632 USD
GNO / 199808181 USD / 2.3425236878961 % / 3.5964135044609 coins / 180.889 USD
STRAT / 194427340 USD / 2.2794394465992 % / 320.35403935923 coins / 1.976039591 USD
REP / 191425862 USD / 2.2442505305172 % / 35.814690065416 coins / 17.4023510701 USD
MAID / 165105928 USD / 1.9356792370382 % / 1473.4567627467 coins / 0.3648327205 USD
WAVES / 165332000 USD / 1.938329674135 % / 325.58809111446 coins / 1.65332 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



Stop hesitating and start trading on the Bit20 market !!!





Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #46 on: June 21, 2017, 03:21:08 pm »
Bit20 - The cryptocurrency index fund [2017/06/21 - revision]


 
On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.
 
We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:
 
BTC / 44542132746 USD / 10 % / 1.9061466095515 coins / 2715.8 USD
ETH / 33003336242 USD / 10 % / 14.530392547647 coins / 356.267936 USD
LTC / 2397237239 USD / 10 % / 111.50421557899 coins / 46.4261636687 USD
ETC / 1979316830 USD / 10 % / 242.64982149599 coins / 21.3340893074 USD
XEM / 1845980243 USD / 10 % / 25238.849025675 coins / 0.2051089159 USD
DASH / 1390507483 USD / 7.9316982800247 % / 21.772912995834 coins / 188.583518 USD
BTS / 836220873 USD / 4.7699503535105 % / 7666.3167389237 coins / 0.322092925 USD
XMR / 733386040 USD / 4.1833624508888 % / 43.27768963159 coins / 50.0397937356 USD
STRAT / 726382700 USD / 4.143414172644 % / 290.65727715955 coins / 7.3795729682 USD
ZEC / 628094847 USD / 3.582763040508 % / 4.584192533031 coins / 404.5845749 USD
GNT / 548560810 USD / 3.129086960236 % / 2448.6880851165 coins / 0.6615127964 USD
BCN / 566387452 USD / 3.2307732491764 % / 540491.71858338 coins / 0.00309436485 USD
SC / 519890746 USD / 2.9655478925955 % / 79904.719168308 coins / 0.0192126202 USD
WAVES / 511334500 USD / 2.9167415664798 % / 295.2887762246 coins / 5.113345 USD
STEEM / 498055930 USD / 2.8409982769845 % / 693.03578728719 coins / 2.1221173388 USD
ANS / 417700750 USD / 2.382638253188 % / 147.6443881123 coins / 8.354015 USD
XLM / 381851379 USD / 2.1781471607078 % / 28786.277936949 coins / 0.0391702 USD
LSK / 363268932 USD / 2.0721496276412 % / 320.52465335415 coins / 3.346676683 USD
ICN / 295019175 USD / 1.6828410573335 % / 256.9012353154 coins / 3.391025 USD
DOGE / 348847571 USD / 1.9898876580814 % / 324451.39928504 coins / 0.0031749215 USD
 
The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed
 
You will find on the website the composition with the updated price of each coin and the total value of the index
 

 
Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange
 

 
Stop hesitating and start trading on the Bit20 market !!!

 



Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #47 on: June 21, 2017, 04:46:42 pm »
[member=32961]EstefanTT[/member]

It is unfortunate that btsbots provide incorrect price feed for bit20. This makes the use of bot for bit20 very difficult. If you could collaborate with [member=4465]alt[/member] to help him fix this, running bot on bit20 would be sweet.

Offline Red_Sanford

Re: Bit20 - The cryptocurrency index fund
« Reply #48 on: June 24, 2017, 08:46:24 pm »
[member=32961]EstefanTT[/member]

It is unfortunate that btsbots provide incorrect price feed for bit20. This makes the use of bot for bit20 very difficult. If you could collaborate with [member=4465]alt[/member] to help him fix this, running bot on bit20 would be sweet.

I have just started using the dex and would like to know what bot you use. I use bots on polo and bittrex but I am unfamiliar with what is available on the btsdex

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #49 on: June 24, 2017, 09:57:31 pm »
[member=32961]EstefanTT[/member]

It is unfortunate that btsbots provide incorrect price feed for bit20. This makes the use of bot for bit20 very difficult. If you could collaborate with [member=4465]alt[/member] to help him fix this, running bot on bit20 would be sweet.

I have just started using the dex and would like to know what bot you use. I use bots on polo and bittrex but I am unfamiliar with what is available on the btsdex

Check out this thread

https://bitsharestalk.org/index.php/topic,23457.0.html

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #50 on: July 21, 2017, 12:34:34 am »
Bit20 index is currently screwed by wrong data:

Quote
XEM   Quantity: 24030.020904655;   Price in USD: 186.419032726;   Value in USD: 4479653.2534313

The price feed is currently wrong and  this caused a bunch of margin calls.

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #51 on: July 21, 2017, 01:16:42 pm »
[member=32961]EstefanTT[/member]

It is unfortunate that btsbots provide incorrect price feed for bit20. This makes the use of bot for bit20 very difficult. If you could collaborate with [member=4465]alt[/member] to help him fix this, running bot on bit20 would be sweet.

I will contact him
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #52 on: July 21, 2017, 01:21:48 pm »
Bit20 index is currently screwed by wrong data:

Quote
XEM   Quantity: 24030.020904655;   Price in USD: 186.419032726;   Value in USD: 4479653.2534313

The price feed is currently wrong and  this caused a bunch of margin calls.

The problem seems to have come from 2 witnesses. They have published a price feed twice as big as the previous ones causing not only margin calls but a black swan event.
I will contact them and try to understand what happened.

Luckily, if I'm not wrong, a worker proposal has just been voted in to reactivate markets having suffered a black swan.
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #53 on: July 21, 2017, 02:03:45 pm »
Bit20 - The cryptocurrency index fund [2017/07/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 45802864660 USD / 10 % / 1.3729080571151 coins / 2782.75 USD
ETH / 21004746485 USD / 10 % / 16.993825805106 coins / 224.814585 USD
LTC / 2329412021 USD / 10 % / 85.431272535297 coins / 44.7196885 USD
ETC / 1488458592 USD / 10 % / 240.6244783362 coins / 15.87727035235 USD
DASH / 1386652697 USD / 9.6908906808352 % / 19.860450223695 coins / 186.419032726 USD
XEM / 1372267347 USD / 9.590355878893 % / 24030.020904655 coins / 0.1524741496 USD
MIOTA / 806183302 USD / 5.6341679970041 % / 7421.3523096666 coins / 0.290043 USD
XMR / 600317850 USD / 4.1954374521395 % / 39.545834399725 coins / 40.5314511 USD
STRAT / 512680669 USD / 3.5829680555235 % / 262.91802219672 coins / 5.2064083132 USD
BCC / 419175256 USD / 2.9294873841125 % / 16.090153636757 coins / 69.558 USD
VERI / 409717046 USD / 2.8633868534283 % / 5.2585441855467 coins / 208.032 USD
QTUM / 407485920 USD / 2.8477941976697 % / 136.17011840017 coins / 7.98992 USD
EOS / 400728396 USD / 2.8005679336608 % / 615.10047493905 coins / 1.739465 USD
ZEC / 371173836 USD / 2.5940201724948 % / 4.7612325628377 coins / 208.146733172 USD
ANS / 367054750 USD / 2.5652331429687 % / 133.5001160786 coins / 7.341095 USD
BTS / 353766437 USD / 2.4723651963701 % / 6934.062861147 coins / 0.1362198796 USD
STEEM / 326337322 USD / 2.2806715188457 % / 634.87244499065 coins / 1.37243538325 USD
WAVES / 321447500 USD / 2.2464980516515 % / 267.00023215721 coins / 3.214475 USD
ICN / 267928500 USD / 1.8724701645896 % / 267.00023215721 coins / 2.679285 USD
BCN / 262378844 USD / 1.8336853198129 % / 489017.8276222 coins / 0.0014325697 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



Stop hesitating and start trading on the Bit20 market !!!





Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline R

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Offline wackou

Re: Bit20 - The cryptocurrency index fund
« Reply #55 on: July 22, 2017, 02:34:14 am »
so I investigated a bit, but I'm not really sure what caused it yet... if I run it now I get the correct results
given that that coincap returns no result for BCC, VERI, QTUM it is not used, meaning that the data is coming straight from CoinMarketCap only

let's look at the last feeds published for wackou, verbaltech2, fox:

Code: [Select]
wackou

FeedPrice: 1.75457e-06 BTWTY/BTS  569940.2132716278  (2017-07-20T20:59:57+00:00)
FeedPrice: 1.47023e-08 BTWTY/BTS  68016568.8361685  (2017-07-20T20:35:33+00:00)
FeedPrice: 1.47023e-08 BTWTY/BTS  68016568.8361685  (2017-07-20T20:29:27+00:00)
FeedPrice: 1.47023e-08 BTWTY/BTS  68016568.8361685  (2017-07-20T20:23:18+00:00)
FeedPrice: 1.70705e-06 BTWTY/BTS  585805.9224978765  (2017-07-20T20:11:06+00:00)
FeedPrice: 3.39766e-06 BTWTY/BTS  294320.20861416386  (2017-07-20T19:28:27+00:00)
FeedPrice: 3.39766e-06 BTWTY/BTS  294320.20861416386  (2017-07-20T19:16:15+00:00)
FeedPrice: 3.40805e-06 BTWTY/BTS  293422.92513314064  (2017-07-20T18:51:51+00:00)
FeedPrice: 3.40365e-06 BTWTY/BTS  293802.24171110423  (2017-07-20T18:27:27+00:00)
FeedPrice: 3.4317e-06 BTWTY/BTS  291400.7634700003  (2017-07-20T18:03:06+00:00)

Code: [Select]
verbaltech2

FeedPrice: 1.75844e-06 BTWTY/BTS  568685.8806669548  (2017-07-20T21:00:12+00:00)
FeedPrice: 3.38361e-06 BTWTY/BTS  295542.3349617716  (2017-07-20T20:04:54+00:00)
FeedPrice: 3.38991e-06 BTWTY/BTS  294993.0824122174  (2017-07-20T20:00:36+00:00)
FeedPrice: 3.40312e-06 BTWTY/BTS  293847.99830743554  (2017-07-20T19:05:18+00:00)
FeedPrice: 3.4082e-06 BTWTY/BTS  293410.0111495804  (2017-07-20T19:03:33+00:00)
FeedPrice: 3.43005e-06 BTWTY/BTS  291540.93963644846  (2017-07-20T18:03:42+00:00)
FeedPrice: 3.4321e-06 BTWTY/BTS  291366.8016666181  (2017-07-20T18:02:18+00:00)

Code: [Select]
fox

FeedPrice: 3.3770663424682977e-06 BTWTY/BTS  296115.0  (2017-07-20T19:51:39+00:00)
FeedPrice: 3.397962581636051e-06 BTWTY/BTS  294294.0  (2017-07-20T15:51:06+00:00)
FeedPrice: 3.3295376604004766e-06 BTWTY/BTS  300342.0  (2017-07-20T11:50:33+00:00)
FeedPrice: 3.362994948781587e-06 BTWTY/BTS  297354.0  (2017-07-19T21:13:06+00:00)
FeedPrice: 3.422653172286093e-06 BTWTY/BTS  292171.0  (2017-07-19T17:12:27+00:00)
FeedPrice: 3.470342453393301e-06 BTWTY/BTS  288156.0  (2017-07-19T13:11:51+00:00)

so on 2017-07-20, up until 20:10 every is fine, and then at 20:11 I start publishing a feed price that is slashed in half
at 21:00 verbaltech2 publishes his next feed and his price is also affected

at this point, this triggers the black swan and no one can publish feeds anymore. Fox not having published a feed since 20:11, we don't know if his code would have been affected too or not. Given that the script currently returns the correct feed price for me, I am tempted to say that this was a temporary glitch in the CMC api. I don't have debug logs from then, and the historical data on CMC looks clean, so there's no way for me to confirm this hypothesis either...

I don't think I'm going to spend more time trying to figure out what happened, but rather think about what can be done to avoid this type of situations in the future.

There are 2 areas I want to improve:
- there should be a check that the feed value is consistent with the previously published value. If not, user should be notified, and feed should not be published unless overriden manually (via the config.yaml file)
- we should keep historical data of all queries to external sources and persist it in a local db. This would allow to have a much better traceability with respect to feed queries and publishing.

Let's hope that pc manages to get BSIP-018 finalized quickly so that we can reboot the BTWTY market!
Please vote for witness wackou! More info at http://digitalgaia.io

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #56 on: July 22, 2017, 08:42:45 am »
Data on www.bittwenty.com was also out of whack for some period.

Offline George_Bitspark

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Re: Bit20 - The cryptocurrency index fund
« Reply #57 on: July 22, 2017, 02:07:26 pm »
Thanks for the investigation Wackou, so am I correct in saying that if the price feed had more witnesses for this asset and if the price feed is an average of witness feeds, this can help reduce black swans in future? Although such a sharp divergence in feed pricing likely still would black swan the asset even with twice the amount of witnesses correct?

Bitspark- Cash to Cryptocurrency

Offline BigBurgers

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Re: Bit20 - The cryptocurrency index fund
« Reply #58 on: July 24, 2017, 03:37:36 pm »
Complete BTS noob here, but can someone provide a link to the net asset value (or current premium) that BTS is trading to the underlying coins? Also, id there a history of this premium available somewhere. Many thanks.



But how exactly is it made, what are the coins in it and how can I invest in it?

I'm here to share with you this promising blockchain project and answer all your questions. 

I wanted to create a tool that allows anyone to invest in the global economic growth of cryptocurrencies without a headache. Just buy something that will track this soon economic Cambrian explosion.
This tool had to be decentralised because we all know how centralised projects dealing with money end up, especially in the cryptocurrency world. So my team and I have created a cryptocurrency index fund (ETF like).

I want to spread the information about this index fund in the crypto community so everyone can invest in a great asset that will grow as the cryptocurrency global market grows. Not something going up and down wildly, but more something like a monster slowly waking up and devouring the fiat money markets.

I want it to be a place where you can store your value with a high probability that months later, you will still have your investment intact and a nice return on investment.

I also want to spread the word out of cryptocurrencies. My plan is to start with the cryptocurrency savvy crowd and then move on to trading forums, forex, stock markets and others. This is how I aim to make new money comes into this space. The bigger the index daily volume will grow, the easier is going to be to promote it and make people interested in crypto.

The index took almost a 2 years to be fully tested and heavily reviewed. It´s finally ready and has been officially launched on the BitShares decentralised exchange on 16/12/2016. The index is fully decentralised and every Bit20 will always be backed by a minimum of 175% of its value.

Here is the evolution of Bit20 ober the last 18 month in $ :



This is 100% secure, 100% decentralised, 100% pure cryptocurrency !

If you have any question, please have a look on the website at the "FAQ"  or "About Bit20" tab. If you don't find what you are looking for, I'll do my best to answer you in this post.





Offline wackou

Re: Bit20 - The cryptocurrency index fund
« Reply #59 on: July 24, 2017, 10:11:52 pm »
Thanks for the investigation Wackou, so am I correct in saying that if the price feed had more witnesses for this asset and if the price feed is an average of witness feeds, this can help reduce black swans in future? Although such a sharp divergence in feed pricing likely still would black swan the asset even with twice the amount of witnesses correct?

that would have helped a bit maybe, yes. What is really needed is more implementations of the feed script. We currently had 3 witnesses publishing the feeds, but using 2 different scripts only (fox has his own, verbaltech and myself use bts_tools). So when my feed started failing, it automatically also failed for verbaltech. If we would have had more witnesses, but running only 2 scripts then maybe we could have noticed the issue earlier (when the first witnesses started to fail) and could have stopped it or started publishing manually before the median went off the rails. That is not a real solution, though, as it could have bought us a bit more time, but it would have happened anyway (as long as more than half of the witnesses are wrong).

But really, I think that what should be done is to have a maximum difference allowed between 2 consecutive feed prices to ensure that the price doesn't shoot up or down due to a bug. If needed (because the market really did go up or down that fast), this can be overriden manually to still publish the feed. I believe that xeroc's script work like that but I haven't implemented it yet myself. It jumped up a few places on my priority list, though...
Please vote for witness wackou! More info at http://digitalgaia.io