ELI5 UIA CER and prices

[xeroc]

Thanks for paying attention! I've already read it, but there are some things left to clarify for me.
What I basically asking here is: if I do not care about fee pool draining, whether or not should I still regularly update CER?

You should regularily update CER at least until the next hardfork which fixes the fee pool draining issue

[zenwarr]

You may find answers here:
http://docs.bitshares.org/user/assets-faq.html?highlight=fee%20pool

Thanks for paying attention! I've already read it, but there are some things left to clarify for me.
What I basically asking here is: if I do not care about fee pool draining, whether or not should I still regularly update CER?

[xeroc]

You may find answers here:
http://docs.bitshares.org/user/assets-faq.html?highlight=fee%20pool

[zenwarr]

Hi! I'm sorry if answers are too obvious, but I'm a newbie, so...

I want to fully understand how UIA work. I know that when I create my own asset, I can set core exchange rate for it. From docs, I know that it should be a bit higher than the lowest ask in order to prevent fee pool draining. But how should I calculate it, do I need to monitor MYASSET/BTS market and update CER according to its prices? If so, how often updates should be done? Or maybe CER isn't a game worth playing because of fees I have to pay for updating it?

The second question is more about trading (and even more ELI5-conforming). If I issue asset that is backed by some value external to BitShares, and people holding this asset want to trade it on market, how do they know BTS price to start with? If I know its exact USD price in the external world, I can calculate its price in BTS, but how does market get to know it? Do I need to publish it somehow?