price feeding review

[sahkan]

Witness sahkan-bitshares is using Zapata's script to provide the bsip price feeds. In addition to the script I utilize paid services from currencylayer and bitcoinaverage for more reliable currency pricing and increased api availability with closer to real time market pricing.

On second note, I believe that transparency or not, witnesses' job is to provide price feeds in accordance with current rules (ie BSIP42) and it should not matter if a particular witness agrees with it or not. This should also be true for the future, if there are any changes that are voted in, the witnesses should provide data according to those changes. What I don't agree with is making changes without voters approval.

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to for voters to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory.

I agree transparency on pricefeed is a must.

You can find the up-to-date details of my algorithm there.

Note that, I always tryed to be the more transparent as I can:

• My algorithm and the various changes are discused in my application thread.
• My pricefeed code is public, and I always used the public version of the code.
• I've build a tool to help shareholders to monitor the witnesses prices over time, and compare against each other, median feed/dex/cex prices.

[yamtt]

支持

[btspp]

btspp-witness algorithm：

Code: [Select]

# => pseudocode
item = magicwallet_json.find{|item| item['datatype'] == '12h'}
premium = (item['depositFiatCNY'].to_f + item['withdrawFiatCNY'].to_f) / (item['depositBitCNY'].to_f + item['withdrawBitCNY'].to_f)
if premium < 0.99
  premium = [premium, 0.94].max
else
  premium = [[1.0, premium].max, 1.06].min
end
feed_price = current_feed_price * premium

[ouresw]

I find this talk of transparency somewhat disingenuous, as very few witnesses produce a report of their operations periodically.

I will soften that to the extent I don't monitor non-English publications, so if there are non-English witness reports out there, great. Would be nice to see them announced on a prominent platform or in the Bitshares_Witnesses channel of Telegram. I asked one Chinese speaker to translate for me once, but he never followed thru. Neither did I in finding another.

I think Google translate has probably gotten good enough where it is adequate to bridge the language barrier between Mandarin & English now.

I have very consistently published a monthly witness report, I have been more transparent than most witnesses in what I do each month. I have repeatedly stated I use bts_tools for my price feeds. That will change when the MCR fix is released, at which time I will use zapata's price feed script.

I have been publishing my reports on steemit, but given the recent changes on that platform I will be moving to the whaleshares platform. I have no idea which sites Chinese shareholders have access to, given their governments censorship of the internet. I will make it a point to update my witness proposal thread here on this forum, to at least provide a link to my full report on Whaleshares.

I encourage all witnesses to follow the lead of zapata and myself to improve your level of transparency of ALL of your witness operations, at least those that don't compromise security, not just transparency in how you produce feeds.

Maximum respect to you @zapata. As a relatively new witness you set a good example for others to follow.

Good suggestion！But it's best to use the proposal form to determine it.

[ouresw]

Our views are slowly becoming more consistent in practice. From the beginning of the reform, I have always suggested that without the chain acceptance function, there is no objective judgment on whether the supply of bitCNY is sufficient or not. Based on this, the strength of the negative feedback should not be too large. In addition, the establishment of the chain acceptance function helps the commercialization and promotion of bitCNY. Now I think the most important thing is to discuss the feasibility of accepting on the chain. By the way, we can also "pull it."

WTH? "chain acceptance" "pull it" ? I do agree an lack of objective judgement for BitCNY supply being "sufficient", depends on who you ask. We've heard from bitcrab and his followers. The same thing can be said for all other bit assets.

ha! ha! ha!
The chain acceptance means is Exchange function between bitCNY and French currency，Sorry!  I can't find a word to express this meaning.
As for the translation of <pull it> into Chinese, it is to express that ，"扯一扯"！

[Thom]

I find this talk of transparency somewhat disingenuous, as very few witnesses produce a report of their operations periodically.

I will soften that to the extent I don't monitor non-English publications, so if there are non-English witness reports out there, great. Would be nice to see them announced on a prominent platform or in the Bitshares_Witnesses channel of Telegram. I asked one Chinese speaker to translate for me once, but he never followed thru. Neither did I in finding another.

I think Google translate has probably gotten good enough where it is adequate to bridge the language barrier between Mandarin & English now.

I have very consistently published a monthly witness report, I have been more transparent than most witnesses in what I do each month. I have repeatedly stated I use bts_tools for my price feeds. That will change when the MCR fix is released, at which time I will use zapata's price feed script.

I have been publishing my reports on steemit, but given the recent changes on that platform I will be moving to the whaleshares platform. I have no idea which sites Chinese shareholders have access to, given their governments censorship of the internet. I will make it a point to update my witness proposal thread here on this forum, to at least provide a link to my full report on Whaleshares.

I encourage all witnesses to follow the lead of zapata and myself to improve your level of transparency of ALL of your witness operations, at least those that don't compromise security, not just transparency in how you produce feeds.

Maximum respect to you @zapata. As a relatively new witness you set a good example for others to follow.

[zapata42]

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to for voters to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory.

I agree transparency on pricefeed is a must.

You can find the up-to-date details of my algorithm there.

Note that, I always tryed to be the more transparent as I can:

• My algorithm and the various changes are discused in my application thread.
• My pricefeed code is public, and I always used the public version of the code.
• I've build a tool to help shareholders to monitor the witnesses prices over time, and compare against each other, median feed/dex/cex prices.

[Thom]

Our views are slowly becoming more consistent in practice. From the beginning of the reform, I have always suggested that without the chain acceptance function, there is no objective judgment on whether the supply of bitCNY is sufficient or not. Based on this, the strength of the negative feedback should not be too large. In addition, the establishment of the chain acceptance function helps the commercialization and promotion of bitCNY. Now I think the most important thing is to discuss the feasibility of accepting on the chain. By the way, we can also "pull it."

WTH? "chain acceptance" "pull it" ? I do agree an lack of objective judgement for BitCNY supply being "sufficient", depends on who you ask. We've heard from bitcrab and his followers. The same thing can be said for all other bit assets.

[ouresw]

Our views are slowly becoming more consistent in practice. From the beginning of the reform, I have always suggested that without the chain acceptance function, there is no objective judgment on whether the supply of bitCNY is sufficient or not. Based on this, the strength of the negative feedback should not be too large. In addition, the establishment of the chain acceptance function helps the commercialization and promotion of bitCNY. Now I think the most important thing is to discuss the feasibility of accepting on the chain. By the way, we can also "pull it."

[matle85]

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to for voters to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory.

I agree price feeding is absolutely critical and the more transparent the better. The clearer we are on what is going on the easier it is to understand / discuss the various adjustments being considered.

[Thom]

I will resume cny and usd feeds when a proper fix is available thru MCR AND a reasonable algo is established that doesn't need minute by minute "adjustments".

We actually can't be certain without doubt bitcrab's objectives can be achieved through MCR, but that is our best hope. Time will tell.

I'm not a fan of rushing when it comes to these things. I wish more witnesses would think independently and question what is actually going on, not just trust in proxies blindly.

I also wish more witnesses took their roll more seriously and work to set standards and conventions, to "tighten the ship" and consider the many factors, not only focus on 1 or 2 aspects like feeds. Very few are even wiling to discuss those matters, such as better ways to track witness operations. What can be automated and what are the metrics we could measure?

That is MY appeal to witnesses.

[johnson]

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory.

support

[Valera Cogut]

Absolutely agree with you about publishing ! I feel the same !

[xeroc]

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory. 

I agree with this, assuming that satisfactory == transparent.

This finally leads to requiring more transparency from witnesses and their actions. The times where witnesses just needed to setup "some script" and keep their block producers reliable are over. Competition is heating up and witnesses have to be more pro-active.

I used to have a rather lose set of requirements from witnesses - this will change.

[bitcrab]

price feeding is so important for Bitshares and it need witnesses to pay more attention and efforts on this.

witnesses need to publish their algorithm to for voters to evaluate and check with the real feed price.

the published algorithm need to include

1. how the premium is calculated out.
2. how the feed price is calculated out based on premium and other factors.

I am sorry that I'll use my voting power to push this thing, after 20th, Nov, I may update voting on witnesses if the behavior on this is not satisfactory.