who can tell me what's the GOLD price?

[yvv]

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.

[iHashFury]

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.

[Yao]

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

[xeroc]

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

[yvv]

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.

[iHashFury]

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.

[alt]

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) ..

[xeroc]

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) ..

[alt]

there are about 390 SILVER will be margin call when BTS price dumped to 0.004USD/BTS
in fact his real margin call price is 0.0034USD/BTS

and he has to bought 390 SILVER at price 18.7USD/SILVER instead of 15.7USD/SILVER

I'd like to know if it's fair to this guy

if you witness don't know which price is fair, just stop publish the shit.
no price is good than wrong price

[xeroc]

seems nobody care about these shit MPA
maybe most people still waiting for  BM to give an order

if anybody care about these , please set up a new witness, prepare the feed price, and I will give my vote.

You are being unfair here ..
anyways, i agree that witnesses should take more responsibilty about the prices they publish .. i gavw them all the tools they need with FOSS code and dont see that its my duty to do anything here given that a dont run a witness or anything

The code also uses google and quadl and can easily be extended to any other source .. bit i persinally will not pay for professional feeds because i dont run a witness ..

[alt]

seems nobody care about these shit MPA
maybe most people still waiting for  BM to give an order

if anybody care about these , please set up a new witness, prepare the feed price, and I will give my vote.

[Chronos]

I have upgrade my feed script, got GOLD/SILVER price from sina finace, the GOLD price  is 1130
http://finance.sina.com.cn/futures/quotes/XAU.shtml

Great work, @alt! You're setting a great example with your fast response. Unfortunately, the feed could get a little strange until we have more witnesses make the fix...

[alt]

I have upgrade my feed script, got GOLD/SILVER price from sina finace, the GOLD price  is 1130
http://finance.sina.com.cn/futures/quotes/XAU.shtml

[yvv]

There is no SINGLE PRICE of anything.
It all depends on the subset of buyers and sellers that define specific price on a specific trade. Fortunately, we have some bigger exchanges that have a ticker for those trades.
Unfortunately, we have many of them, some bigger, some smaller. Each exchange has there own price. In fact, every trade has it's own price.

In this case, do we need to be more specific when we create a bitAsset about which index will it be pegged to, like yahoo gold, poloniex BTC, etc?

[alt]

thanks, there are no doubt that we provided   wrong price for GOLD/SILVER always
I will fix my feed price script ASAP
we need more professional team to handle these things
before these fixed, as a witness, I will stop publish feed price for GOLD/SILVER