Author Topic: more professional price feed?  (Read 20774 times)

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Offline lil_jay890

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I think what bitcrab is getting at is that witness's should provide a quality robust price feed.  They are being paid by the blockchain to produce blocks and provide a reliable feed. Providing this reliable feed is well within the scope and responsibility of the witness and shouldn't be subsidized by a worker proposal.

That said, I know feeds for assets can be expensive.  Right now, a witness would run at a net loss if they were to subscribe to a professional price feed like Bloomberg.

The witness's that can find a balance between robustness and cost effectiveness of the price feeds are going to be the ones that get and stay elected.

Witnesses are NOT paid to produce feeds... it is an ongoing expense to witnesses. Some do not publish as often as others as a result.

If you want to have 'reliable feeds' then what I am saying is relying on free sources is by no means reliable. Those that are using a few other sources are by no means providing real 'robustness' to the network. It is paper thin now even with others publishing. So we have a choice to make. We continue to treat bitassets like a hobby, or get them to a level that is robust and reliable.

I am proposing a fix instead of a bandaide in my estimation.

In the interim I am going to stop publishing CNY as suggested and following suit with other witnesses until there are enough reliable markets available to support it.

Personally I have expected that if a witness wants to get voted in, providing price feeds is part of the deal.  The better the price feed the more satisfied I am with the witness I'm voting for.  If a witness is going to knowingly provide bad data, then all the more reason to vote them out in favor of one who will take the job more seriously.  I get that problems can occur, but this has been brought to the at fault witness's in the past and in most cases there has been little to no response.

There may not be any requirement that witness's provide price feeds, but the shareholders should and most likely will vote in witness's who provide the most value... It's capitalism and competion. And it's a better solution than having BTS pay for it.  There are already witness's out there doing a good job with the price feeds.

Plus having BTS pay for a feed that all the witness's end up using kind of goes against the whole decentralization principles.

Offline BunkerChainLabs-DataSecurityNode

I think what bitcrab is getting at is that witness's should provide a quality robust price feed.  They are being paid by the blockchain to produce blocks and provide a reliable feed. Providing this reliable feed is well within the scope and responsibility of the witness and shouldn't be subsidized by a worker proposal.

That said, I know feeds for assets can be expensive.  Right now, a witness would run at a net loss if they were to subscribe to a professional price feed like Bloomberg.

The witness's that can find a balance between robustness and cost effectiveness of the price feeds are going to be the ones that get and stay elected.

Witnesses are NOT paid to produce feeds... it is an ongoing expense to witnesses. Some do not publish as often as others as a result.

If you want to have 'reliable feeds' then what I am saying is relying on free sources is by no means reliable. Those that are using a few other sources are by no means providing real 'robustness' to the network. It is paper thin now even with others publishing. So we have a choice to make. We continue to treat bitassets like a hobby, or get them to a level that is robust and reliable.

I am proposing a fix instead of a bandaide in my estimation.

In the interim I am going to stop publishing CNY as suggested and following suit with other witnesses until there are enough reliable markets available to support it.
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Offline yvv

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Market fee could be used to pay for price feeds too.

Offline alt

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we must contact these witness, ask them stop publish price for CNY immediately,
the depth from yunbi is too worse, 300K BTS can dump the price to zero
and the feed price of CNY will be zero if these witness still publish their feed
 
today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.

Offline lil_jay890

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today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.

Note - datasecuritynode wasn't being voted for by your proxy before anyway.

I would suggest we create a worker proposal to gain access to more price feed data rather than continuing to rely on bottom of the barrel free data. Vote for it?

I  don't understand why worker proposal are needed here.
if some witnesses have proved that they can provide professional price feed for free(no more than the block generation reward), then why should I vote for the worker propossal?


I'm just going by what you said.. not professional enough. I never seen free as ever being professional enough.. so I am recommending we do things professional and proper and have paid data feeds that are the same quality as all the major forex markets around the world.

I think what bitcrab is getting at is that witness's should provide a quality robust price feed.  They are being paid by the blockchain to produce blocks and provide a reliable feed.  Providing this reliable feed is well within the scope and responsibility of the witness and shouldn't be subsidized by a worker proposal.

That said, I know feeds for assets can be expensive.  Right now, a witness would run at a net loss if they were to subscribe to a professional price feed like Bloomberg.

The witness's that can find a balance between robustness and cost effectiveness of the price feeds are going to be the ones that get and stay elected.

Offline BunkerChainLabs-DataSecurityNode

today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.

Note - datasecuritynode wasn't being voted for by your proxy before anyway.

I would suggest we create a worker proposal to gain access to more price feed data rather than continuing to rely on bottom of the barrel free data. Vote for it?

I  don't understand why worker proposal are needed here.
if some witnesses have proved that they can provide professional price feed for free(no more than the block generation reward), then why should I vote for the worker propossal?


I'm just going by what you said.. not professional enough. I never seen free as ever being professional enough.. so I am recommending we do things professional and proper and have paid data feeds that are the same quality as all the major forex markets around the world.
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Offline bitcrab

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today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.

Note - datasecuritynode wasn't being voted for by your proxy before anyway.

I would suggest we create a worker proposal to gain access to more price feed data rather than continuing to rely on bottom of the barrel free data. Vote for it?

I  don't understand why worker proposal are needed here.
if some witnesses have proved that they can provide professional price feed for free(no more than the block generation reward), then why should I vote for the worker propossal?
Email:bitcrab@qq.com

Offline BunkerChainLabs-DataSecurityNode

today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.

Note - datasecuritynode wasn't being voted for by your proxy before anyway.

I would suggest we create a worker proposal to gain access to more price feed data rather than continuing to rely on bottom of the barrel free data. Vote for it?
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Offline bitcrab

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today a man made margin call happened again for bitCNY, about 50K bitCNY margin called, someone did price manipulation just by selling a little quantity of BTS in yunbi.

proxy bitcrab decided to unvote below witnesses, until they implement professional enough bitCNY price feeding.
spectral delegate-clayop bhuz bue delegate.ihashfury spartako fox elmato rnglab datasecuritynode

don't tell me btc38 always fail to provide price, don't ask me how to generate good price feed, you are witnesses, you should find ways to make that done.
Email:bitcrab@qq.com

Offline alt

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there are only one  BTS,
the BTS in polo is the same as in BTC38
I don't understand why get CNY feed from BTC38 but get USD feed from polo
you can always sell/buy BTS with both BTC38/POLO

in my script, I get CNY/BTS from BTC38/yunbi, get CNY/BTS from okcoin/huobi...., then transfer CNY/BTS to BTC/BTS
calculate  the BTC feed from all exchange based on custom weight include: BTC38/POLO/yunbi...
then calculate all others feed price from this BTC feed price.

Offline abit

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is it possible to calculate a BTS/CNY price with BTS/BTC price from polo and bittrex and BTC/CNY price from yunbi/huobi/okcoin and give this price some weight?

the settlement price should be somehow fault-tolerant, if btc38 always fail to provide price, then we need to add  other price channels to avoid single point data fetch.

As I posted earlier:
Code: [Select]
                   "CNY" : {
                       "metric" : "weighted",
                       "sources" : ["btc38",
                                    "yunbi",
                                    "huobi",
                                    "btcchina",
                                    "okcoin",
                                    "poloniex",
                                    "bittrex",
                                   ]
                   },
Best if @xeroc can confirm.
People still need to be able to access huobi/ok/btcc though.

By the way, btc38's api is responding now, also seems the site/trading has been brought online. But their hot wallets are still empty (funds gone here: https://cryptofresh.com/u/btsx-bitshare)
« Last Edit: December 21, 2016, 09:48:42 pm by abit »
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Offline Bhuz

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is it possible to calculate a BTS/CNY price with BTS/BTC price from polo and bittrex and BTC/CNY price from yunbi/huobi/okcoin and give this price some weight?

This is what I am doing now, but for who is outside the great wall there are issue with those chinese exchanges...due to connection time out, or exceeding the max allowed retries.

Offline mf-tzo

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There are rumors that btc38 is hacked.

I have never been able to reliably get data from btc38 for anything for a very long time. Their feeds always timeout no matter how high I set the wait.

If they have been hacked that is also bad news though.

Well if they have been hacked again that is another opportunity to promote bitshares DEX though and short some btcs..

Offline bitcrab

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is it possible to calculate a BTS/CNY price with BTS/BTC price from polo and bittrex and BTC/CNY price from yunbi/huobi/okcoin and give this price some weight?

the settlement price should be somehow fault-tolerant, if btc38 always fail to provide price, then we need to add  other price channels to avoid single point data fetch.
Email:bitcrab@qq.com

Offline BunkerChainLabs-DataSecurityNode

There are rumors that btc38 is hacked.

I have never been able to reliably get data from btc38 for anything for a very long time. Their feeds always timeout no matter how high I set the wait.

If they have been hacked that is also bad news though.
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