more professional price feed?

[fav]

I did not have a clue when I put my money up for an adventure

and that's a huge problem I see in almost every ICO. clueless people throwing money at something they do not understand.

[mea123]

as an investor of BTS, Obits, ICOO, BTSR, BlockPay, Nexium, ETH etc..
this blows my mind and makes me very leery on top of it, what is going on.
I do not understand , nor do I like too learn to understand as an investor
what is going on with all the price of any of my investments..

I did not have a clue when I put my money up for an adventure
 that proof one better is an scientist to understand where one put his money into.

I guess its time to get this matter straiten before more and more potential investors get scared off.

oops what did I get into..looks like only pretty tech advanced ppl know whats going on, the rest is left in limbo at best.

I have a feeling that this can become a bigger issue, and it is already, otherwise we would not have to talk about

just my 2 cents

[gn1]

See price feed from http://cryptofresh.com/a/CNY

How come the price feed for the bottom three guys are stale for few days or more?

[abit]

we should develop an exchange service,
for example, we set up a service account: witness-exchange
every witness must accept the offer from account witness-exchange: sell BTS at your feed price*1.02, buy BTS at your feed price/1.02.
so witness-exchange can get the best ask/bid price from all witness's feed price, and serve all users.

you'll never know what's the reasonable price without trade.

I suggest the witness block reward is proportional to the  witness‘s sell/buy amount of BTS in the exchange service.

Better try to get more candidates on board before try to get rid of current ones.

[天籁]

we should develop an exchange service,
for example, we set up a service account: witness-exchange
every witness must accept the offer from account witness-exchange: sell BTS at your feed price*1.02, buy BTS at your feed price/1.02.
so witness-exchange can get the best ask/bid price from all witness's feed price, and serve all users.

you'll never know what's the reasonable price without trade.

I suggest the witness block reward is proportional to the  witness‘s sell/buy amount of BTS in the exchange service.

[天籁]

we should develop an exchange service,
for example, we set up a service account: witness-exchange
every witness must accept the offer from account witness-exchange: sell BTS at your feed price*1.02, buy BTS at your feed price/1.02.
so witness-exchange can get the best ask/bid price from all witness's feed price, and serve all users.

you'll never know what's the reasonable price without trade.

+100%

[abit]

Current feeds:

Code: [Select]

Price Feed Data
SETTLEMENT PRICE – BITCNY/BTS CER – BITCNY/BTS MCR MSSR PUBLISHER PUBLISHED
0.02606831 0.02744082 175% 110% datasecuritynode 2 minutes ago
0.02749951 0.02894955 175% 110% rnglab 10 minutes ago
0.0274246 0.028868 175% 110% verbaltech2 14 minutes ago
0.02748412 0.02893086 175% 110% in.abit 17 minutes ago
0.02620613 0.0264682 175% 110% witness.still 20 minutes ago
0.02742568 0.02886931 175% 110% fox 29 minutes ago
0.0263 0.02768421 175% 110% spartako 30 minutes ago
0.02742568 0.02886931 175% 110% xman 33 minutes ago
0.0273662 0.02880653 175% 110% wackou 54 minutes ago
0.0273665 0.0288078 175% 110% abc123 58 minutes ago
0.0263 0.02768421 175% 110% delegate.ihashfury 2 hours ago
0.0274 0.02884211 175% 110% bhuz 2 hours ago
0.02716187 0.02743349 175% 110% xn-delegate 3 hours ago
0.02692587 0.02719513 175% 110% delegate.baozi 4 hours ago
0.0263 0.02768421 175% 110% delegate-1.lafona 6 hours ago
0.026058 0.02631858 175% 110% jerryliu 10 hours ago
0.02609503 0.02635599 175% 110% elmato 23 hours ago
0.0260681 0.02632878 175% 110% xeldal 23 hours ago
0.02615227 0.02641379 175% 110% witness.yao 23 hours ago

BTC38 BTS/CNY latest price 0.276
Poloniex BTS/BTC latest price 332satoshi, which is around 0.271CNY according to BTC prices on non-Chinese exchanges (we know that all BTC exchanges in China have suspended or are delaying BTC withdrawals, so prices there are not good to use).

[alt]

we should develop an exchange service,
for example, we set up a service account: witness-exchange
every witness must accept the offer from account witness-exchange: sell BTS at your feed price*1.02, buy BTS at your feed price/1.02.
so witness-exchange can get the best ask/bid price from all witness's feed price, and serve all users.

you'll never know what's the reasonable price without trade.

[alt]

I will remove my vote for the witness can't give reasonable price.

Code: [Select]

喂价 – BITCNY/BTS 汇率 – BITCNY/BTS 维持保证金比例 强制平仓比例上限 发布人 发布时间
0.02541539 0.02675335 175% 110% datasecuritynode 2分钟前
0.0267 0.02810526 175% 110% wackou 3分钟前
0.02549522 0.02683719 175% 110% in.abit 6分钟前
0.02686897 0.02828619 175% 110% rnglab 8分钟前
0.0268669 0.02828095 175% 110% verbaltech2 22分钟前
0.0267 0.02810526 175% 110% bhuz 29分钟前
0.02580561 0.0271639 175% 110% abc123 34分钟前
0.02553466 0.02687886 175% 110% xman 36分钟前
0.02686688 0.02828142 175% 110% fox 37分钟前
0.028 0.02947368 175% 110% spartako 39分钟前
0.02679259 0.02706052 175% 110% xn-delegate 49分钟前
0.028 0.02947368 175% 110% delegate.ihashfury 1小时前
0.026927 0.02719627 175% 110% delegate.baozi 2小时前
0.028 0.02947368 175% 110% delegate-1.lafona 2小时前
0.02633407 0.02659741 175% 110% jerryliu 3小时前
0.02609503 0.02635599 175% 110% elmato 3小时前
0.0260681 0.02632878 175% 110% xeldal 4小时前
0.02615227 0.02641379 175% 110% witness.yao 4小时前
0.02598393 0.02624377 175% 110% witness.still 4小时前


[rnglab]

Forgot to comment back okcoin and btcc from CNY feed sources after running some tests.

abit , data, xman, witness.still, abc123: try removing the chinese exchanges with  BTS:BTC market from your CNY feed sources.

[alt]

unreasonable price:  rnglab, in.abit, witness.yao, datasecuritynode, abc123

[bitcrab]

just now two feed price come: 0.0264CNY/BTS and 0.267CNY/BTS

however, now in yunbi and btc38, the price is above 0.277CNY

and in polo, BTS price is 0.00000364BTC and BTC price is 1084USDT.

now BTC price in CNY is about 7554(yunbi price), USD/CNY  market rate should be about 6.98, based on these the calculated BTS/CNY price is above 0.0274.

so I can say ATM 0.0267 or 0.0264 is far from a correct market BTS price.

I feel the problem may come from polo price, as it need BTC/CNY or USD/CNY rate to convert the price to BTS/CNY price, but now maybe the real BTC price in CNY is not got, or a real USD/CNY market price is not got.

hope @abit and @rnglab and explain how the price is generated then we can discuss further.

[alt]

and which price do you think is more professinal?
most feed price is 0.0272
some price is 0.0299
my price is 0.0278 CNY/BTS

the median feed price is 0.0272,  some people realized this, and have ask for a settlement about 10K CNY.

wrong price from delegate.ihashfury and  spartako

[alt]

wrong price from delegate.ihashfury and  spartako

[Thom]

One point to make note of that I may have somewhat overlooked before is that the OP bases his analysis on prices obtained on yunbi. He even admits yunbi is a low volume exchange. In reviewing my logs I see more errors from yunbi than any other feed source. Basing the analysis or using yunbi as a basis for price accuracy is a flawed premise.

I approve of @bitcrab's BSIP proposal, however I disagree with him about using yunbi as a criteria for evaluating witness performance.

I agree with @bitcrab that more standards should be developed for evaluating witness performance, including standards for feed reliability and accuracy.

Standards for feed accuracy need to take into account the reliability of feed sources as well.