Author Topic: who can tell me what's the GOLD price?  (Read 8767 times)

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Offline xeroc

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Re: who can tell me what's the GOLD price?
« Reply #15 on: December 25, 2016, 03:54:09 pm »
Well .. witnesses are paid for providing blocks and witbessing a correct price feed .. the definition of 'correct' of cpurse depends on the markets look at for generatimg the feed price they publish.
Either way i am looking for sone witnesses to produce more professional feeds as my 'script' was always ever meant for educational purpose and not for productive use (see script header) ..
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Offline alt

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Re: who can tell me what's the GOLD price?
« Reply #16 on: December 25, 2016, 10:35:11 pm »
thanks to clarify this.

I agree the price feed is witness's responsible, they got paid for that. anyone others never have responsible to help these witness.
wish you can remove your vote for those witness who can't give a reasonable feed price, who don't take responsible.
I prefer 9 witness with responsible instead of 25 witness without responsible

Witness is not only a part job, but a glorify. kick the lazy witness out.

Well .. witnesses are paid for providing blocks and witbessing a correct price feed .. the definition of 'correct' of cpurse depends on the markets look at for generatimg the feed price they publish.
Either way i am looking for sone witnesses to produce more professional feeds as my 'script' was always ever meant for educational purpose and not for productive use (see script header) ..

iHashFury

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Re: who can tell me what's the GOLD price?
« Reply #17 on: December 26, 2016, 12:26:58 pm »
The true price of bitGOLD, bitSILVER, bitUSD, bitGBP, bitCNY bit...

is what someone is "willing to pay" for the assets on the BitSharesDEX or external exchange.

Price feeds are a reference for guidance.

Offline yvv

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Re: who can tell me what's the GOLD price?
« Reply #18 on: December 26, 2016, 02:07:13 pm »
The true price of bitGOLD, bitSILVER, bitUSD, bitGBP, bitCNY bit...

is what someone is "willing to pay" for the assets on the BitSharesDEX or external exchange.

Price feeds are a reference for guidance.

Price feed is not just reference for  guidance, it is the price these coins are supposed to be pegged to. If you peg bitGold to something other than gold, it does not make sense.

Offline xeroc

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Re: who can tell me what's the GOLD price?
« Reply #19 on: December 26, 2016, 07:51:41 pm »
Agreed. Price feeds are what makes settlements and margin calls work as intended.
I will take down my votes from lazy witnesses when i am back at the office next year.
I will alao work on a tool that makes it easier for witbesses to provide manual feeds ... but for now, i am on vacation :)
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Offline Yao

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Re: who can tell me what's the GOLD price?
« Reply #20 on: December 27, 2016, 10:39:46 am »
Agreed. Price feeds are what makes settlements and margin calls work as intended.
I will take down my votes from lazy witnesses when i am back at the office next year.
I will alao work on a tool that makes it easier for witbesses to provide manual feeds ... but for now, i am on vacation :)

Witness.yao on standby!
I need your vote, thx.

https://bitsharestalk.org/index.php/topic,23628.0.html
BTS witness: witness.yao
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iHashFury

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Re: who can tell me what's the GOLD price?
« Reply #21 on: December 27, 2016, 11:44:00 am »
If you peg bitGold to something other than gold, it does not make sense.
yes I agree even though its a ridiculous argument.

Price feeds are what makes settlements and margin calls work as intended.
yes I agree with this too.

My point is in relation to the OP "who can tell me what's the GOLD price?" :

An asset is only worth what someone is willing to pay for it (free market supply and demand): even if Yahoo, Google, BTC exchanges or some Government says otherwise.


Offline yvv

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Re: who can tell me what's the GOLD price?
« Reply #22 on: December 27, 2016, 01:26:00 pm »

An asset is only worth what someone is willing to pay for it (free market supply and demand): even if Yahoo, Google, BTC exchanges or some Government says otherwise.

These sources don't make the price. They just report the market price, which is supposed to be fed to bitshares by witnesses to peg bitAssets to it.

This "free market" argument is irrelevant here. Bitshares is a free market, which needs an accurate price feed from trusted sources to function.

« Last Edit: December 27, 2016, 01:39:33 pm by yvv »

Offline abit

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Re: who can tell me what's the GOLD price?
« Reply #23 on: December 27, 2016, 04:27:11 pm »
Due to unable to provide a forever accurate price feed, or no time to track whether they're correct, I'll stop producing price feeds for assets other than CNY/BTC/USD/EUR and their copies e.g. TUSD. IIRC actually I've never supported the assets with next to zero activity. It's my fault to provide price feeds for them.
« Last Edit: December 27, 2016, 04:29:55 pm by abit »
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Offline alt

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Re: who can tell me what's the GOLD price?
« Reply #24 on: December 27, 2016, 10:42:12 pm »
Due to unable to provide a forever accurate price feed, or no time to track whether they're correct, I'll stop producing price feeds for assets other than CNY/BTC/USD/EUR and their copies e.g. TUSD. IIRC actually I've never supported the assets with next to zero activity. It's my fault to provide price feeds for them.
maybe we can't stop publish price for GOLD/SILVER unless all short positions quit.

Offline kani

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Re: who can tell me what's the GOLD price?
« Reply #25 on: December 27, 2016, 11:19:46 pm »
Due to unable to provide a forever accurate price feed, or no time to track whether they're correct, I'll stop producing price feeds for assets other than CNY/BTC/USD/EUR and their copies e.g. TUSD. IIRC actually I've never supported the assets with next to zero activity. It's my fault to provide price feeds for them.

Wait.  WHAT?

Really, that's your attitude?  Jeez, let's vote this guy out and find a new witness who actually cares about Bitshares.

EDIT: I mean, really!  If you're not prepared to handle the responsibilities involved with being a witness, there are many others who can step up and fill that role.

Bitshares is a business.  If anyone is incapable or unwilling to do their JOB, it should be given to someone who will.
« Last Edit: December 27, 2016, 11:46:35 pm by kani »
My opinions are my own

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Offline kani

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Re: who can tell me what's the GOLD price?
« Reply #26 on: December 28, 2016, 02:36:06 am »
Yes, I’m relatively new here and yes I can be abrasive.  And no, I don’t really know who the important players are.  But, I thought I had found something special in Bitshares: a professional-grade network, and many robust features ensured by delegated proof of stake.

I’m sorry, I just don’t understand why abdication of responsibility shouldn’t have consequences for something as important as the witness.

Being a witness in Bitshares is the foundation of a secure network and is the primary mechanism to ensure that Market Pegged Assets (aka: SmartCoins, or bitAssets) function as intended.  Without responsible witnesses (and a community voting to ensure it), the Bitshares ecosystem is less enticing for use and investment.

I mean no disrespect to abit and his many contributions to Bitshares.  It’s just that running a witness node should not be viewed as an ‘inconvenience’ — many will gladly take the job for the important one that it is.

A professional network requires professional witnesses.

And that includes GOLD.  Please don't throw up your hands and give up when someone suggests an improvement.  Work to fix it!
« Last Edit: December 28, 2016, 02:41:52 am by kani »
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Offline wackou

Re: who can tell me what's the GOLD price?
« Reply #27 on: December 28, 2016, 11:38:28 am »
just wanted to chime in and say that, as a witness and feed script provider, I will update/fix/do whatever is necessary to produce correct feed price for GOLD (as well as for other assets) but as most other people I am currently on holidays with the family, so it will have to wait a week or so.
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Offline kani

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Re: who can tell me what's the GOLD price?
« Reply #28 on: December 28, 2016, 01:31:46 pm »
just wanted to chime in and say that, as a witness and feed script provider, I will update/fix/do whatever is necessary to produce correct feed price for GOLD (as well as for other assets) but as most other people I am currently on holidays with the family, so it will have to wait a week or so.

Thank you.  That's very reassuring.
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Offline yvv

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Re: who can tell me what's the GOLD price?
« Reply #29 on: December 28, 2016, 01:36:52 pm »
just wanted to chime in and say that, as a witness and feed script provider, I will update/fix/do whatever is necessary to produce correct feed price for GOLD (as well as for other assets) but as most other people I am currently on holidays with the family, so it will have to wait a week or so.

Nice to hear this. Happy New Year!