Author Topic: review for price feeding  (Read 11953 times)

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Offline ElMato

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hi, @ElMato @wackou @verbaltech2 could you please check your price feeding and update the script? your feeding price is far below the reasonable figure.

the price from poloniex need to be removed.





Feed prices are back, poloniex was removed from the equation

Offline bitstopia2049

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Why isn't the bitUSD:BTS market also similarly subject to a raised settlement offset?  maybe 2%, 3% ??

I've been observing that market all week and the settlement order book will be getting as long as a Dead Sea scroll pretty soon.

If bitUSD sellers have this "discounted escape valve" then it will artificially reduce BTS buy pressure on the DEX and I wonder if therefore this can be considered real "price discovery"... (regardless of the manipulations taking place on Poloniex)..  If everyone ( except CEX and predatory whales ) wants to see the universe of BTS expand to rival BTC and Ethereum, etc.  then this market mechanism that is unique to the BTS exchange
has to be managed in an effcient and fair manner so as to not disadvantage one party and discourage the creation of bitAssets and also  leads to a chronic undersupply.

From the perspective of a shorter it wouldn't be reckless to open a few short positions this past week, but even though it seems like a reasonable bet, is it really worth the risk that the shorter could become entangled in some mercenary whale's huge dump of forced settled bitUSD?

If I wanted to short I would have to maintain a defacto collateral ratio of 400% - 600%. if I wanted to get a good night's sleep.   
The situation we have now is a rather frustrating "chicken and egg" problem subject to the machinations of any mercenary whales in a thin market
and furthermore with the cumulative amount of bitUSD removed from circulation continues to stymie the growth of the bitUSD ecosphere.

Looking at the Settlement Order book....the amounts range from a low 10.14988 bts  to an avaricious 186,801 bts, which as of the moment
of this writing is =  bitUSD 1.086 - 19,997..  Why would anyone want force settle for a $1.09 worth of BTS ???!! 

Obviously under current market conditions and trading volumes the 24 hour settlement delay is not a sufficient disincentive...I always thought that forced settlement was to be used only under some sort of dire circumstances or market imbalance ?  Did bytemaster ever say why the delay was 24 hours and not maybe 36 or 48?

So I think at the very least the Witnesses need to stay on top of this and provide a more accurate feed price that actually reflects the realities of what's going on in the markets and if not they should be voted out because they are  undermining the rate of BTS value appreciation and the DEX cannot be considered as operating at an INDUSTRIAL grade performance level ready for PRIME time adoption by the rest of the world.

 With BTC busting through the $8k mark...is it realistic to think that any trader would short into existence any significant amount of bitBTC
if he knows that he could be prematurely forced to close his position ????! even though he was willing to take a ri$k that a BTC correction would be coming in the near future? 

This situation is only good for SUPER ASTRO MEGA-WHALES....I on the other hand need my sleep.!

Offline Thom

I posted this on Telegram earlier:

Quote
How quickly things change!  Witness dropped from rank 5 last night to rank 18 this morning.

Granted I've had some issues lately, but it is very obvious a drop that huge wasn't a bottom up (viral, grass-roots, individualist) phenomenon but rather due to our lack of decentralization and proxy vote changes.

It appears bitcrab has removed his proxy vote for my witness. If that change was based soley on my feed problems lately I believe that was premature. I am installing an update to wackou's bts_tools as we speak. Witness.still is also not voting for verbaltech2, but unlike bitcrab I don't know if he was supporting me before last night.

Until the vote weight of these proxies becomes less pronounced by the dilution of more voting accounts and proxies, I guess I shouldn't be too surprised about such radical changes to the bts landscape.

I actually want to thank bitcrab for being attentive to feeds. I just wish I had the confidence he did so fairly to both eastern & western feed producers.

It is no secret that only a few price feed scripts exist. It takes time for witness to become aware of new versions and then more time on top of those delays to get the scripts updated. Wackou completed the release of his script updates less than 8 hours ago. Everybody needs to sleep at some point.

Although I am glad bitcrab is attentive to feed issues, I feel his removal of support (if prompted by recent issues I've had) was too swift and doesn't balance other important factors witnesses are responsible for.

Verbaltech2 provides more resources, seed nodes and infrastructure support than the majority of other witnesses. I don't feel those contributions were given appropriate weight in the decision.

On the other hand, being ranked at the top of the witness list deserves a higher degree of accountability and review, so bitcrab's actions (tho perhaps were overly focused on feeds) were protective of the network. Can't fault him for that!
« Last Edit: November 19, 2017, 06:42:40 pm by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline oxarbitrage

just contacted @ElMato to see if i can assist him with this or something.

Offline guan1990

I have now fixed my feed prices and released a new version of my feed script adding Fixer, CurrencyLayer, Quandl, AEX, ZB, Livecoin as feed providers

Thanks,,  I  find  this problem  at  this morning in  China.  I   think it  should  be  common sense  that  Poloniex  price represent  only  bts  what  is  not  circulated, just  like  when  btc  couldn't  be  withdrawed  in  Okcoin  this  Spring  because  CN  Gov.  forced,that  some  btc  index  removed  OKCoin's  btc  price.I'm  not  sure  whether all  witness  know  this.
« Last Edit: November 19, 2017, 12:07:46 pm by guan1990 »

Offline Crypto Kong

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This is great to see ineffective exchange price feeds removed.


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Offline wackou

I have now fixed my feed prices and released a new version of my feed script adding Fixer, CurrencyLayer, Quandl, AEX, ZB, Livecoin as feed providers
Please vote for witness wackou! More info at http://digitalgaia.io

Offline bitcrab

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hi, @ElMato @wackou @verbaltech2 could you please check your price feeding and update the script? your feeding price is far below the reasonable figure.

the price from poloniex need to be removed.





« Last Edit: November 18, 2017, 03:14:11 pm by bitcrab »
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