Author Topic: To switch to feed real market price in CNY market?  (Read 842 times)

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Offline bitcrab

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To switch to feed real market price in CNY market?
« on: December 26, 2018, 06:07:36 am »
it's clear now that bsip42 is given up by the community.

the key flaw of bsip42 is that it may make the feed price much higher than market price and make the margin call orders just stay there without being eaten. this can lead to risk accumulation.

even though, we have learned that the negative feedback mechanism really works, it's possible that we update the solution, one of the solution update plan is here: https://bitsharestalk.org/index.php?topic=27522.0

in the plan list the 4th -  reduce bitCNY force settlement offset to 2% - is finished, the 1st and 2rd involve big complex and need much time to reach consensus and implement.

the 3rd - change MSSR to 5% - is drafted as bsip41 and is now in voting process, in the voting process we can see it get big support from the community, however, some whales vote to oppose it as they do not want to reduce MSSR when some witnesses feed a price which is much higher than the market price.

as bsip42 is voted out, I think witnesses now need to feed real market price, right?

https://bitsharestalk.org/index.php?topic=27672.msg326693;topicseen#msg326693 here we can see that @roelandp @xman @xn-delegate and @cyazybit now feed a price which is 5%+ higher than the market price, how about to switch to feed real market price? in order to make the whales to support bsip41?

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #1 on: December 26, 2018, 06:21:16 am »
it's clear now that bsip42 is given up by the community.

the key flaw of bsip42 is that it may make the feed price much higher than market price and make the margin call orders just stay there without being eaten. this can lead to risk accumulation.

even though, we have learned that the negative feedback mechanism really works, it's possible that we update the solution, one of the solution update plan is here: https://bitsharestalk.org/index.php?topic=27522.0

in the plan list the 4th -  reduce bitCNY force settlement offset to 2% - is finished, the 1st and 2rd involve big complex and need much time to reach consensus and implement.

the 3rd - change MSSR to 5% - is drafted as bsip41 and is now in voting process, in the voting process we can see it get big support from the community, however, some whales vote to oppose it as they do not want to reduce MSSR when some witnesses feed a price which is much higher than the market price.

as bsip42 is voted out, I think witnesses now need to feed real market price, right?

https://bitsharestalk.org/index.php?topic=27672.msg326693;topicseen#msg326693 here we can see that @roelandp @xman @xn-delegate and @cyazybit now feed a price which is 5%+ higher than the market price, how about to switch to feed real market price? in order to make the whales to support bsip41?
you are wrong to request permit from these witness.
the witness didn't have the authority to make the decide.
it's the voter's fault to keep these unresponsible witness acitve.

Offline finn-bts

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Re: To switch to feed real market price in CNY market?
« Reply #2 on: December 26, 2018, 06:23:24 am »
Agree, I think we can ask more than half of the witnesses to provide the real price, and the final result is the real price. As for the witnesses who provide the witnesses deviating from the price, we can gradually persuade or replace them. Currently, the high premium generated by bitcny has a very bad impact on the market, and we should put aside prejudice and try to push it.

Offline bitcrab

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Re: To switch to feed real market price in CNY market?
« Reply #3 on: December 26, 2018, 07:10:00 am »
you are wrong to request permit from these witness.
the witness didn't have the authority to make the decide.
it's the voter's fault to keep these unresponsible witness acitve.

now the final feed price is already very close to real market price.

I greatly suggest you to support bsip41 right now, both can be pushed at the same time: real market price + MSSR=105%

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #4 on: December 26, 2018, 08:03:11 am »
you are wrong to request permit from these witness.
the witness didn't have the authority to make the decide.
it's the voter's fault to keep these unresponsible witness acitve.

now the final feed price is already very close to real market price.

I greatly suggest you to support bsip41 right now, both can be pushed at the same time: real market price + MSSR=105%
I see now only you and @xeroc have supportted to reduce MSSR to 5%, why not you vote out those witness first, it has been delay for several weeks and it's only worth you several minutes.

Offline bitcrab

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Re: To switch to feed real market price in CNY market?
« Reply #5 on: December 26, 2018, 08:33:55 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.

Offline btspp

Re: To switch to feed real market price in CNY market?
« Reply #6 on: December 26, 2018, 08:50:52 am »
Support
Feed the real price. adjust mssr to 103%-105%. Prevent black swan.
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Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #7 on: December 26, 2018, 08:58:18 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.

Offline finn-bts

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Re: To switch to feed real market price in CNY market?
« Reply #8 on: December 26, 2018, 09:14:07 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #9 on: December 26, 2018, 09:31:16 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

Offline bitcrab

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Re: To switch to feed real market price in CNY market?
« Reply #10 on: December 26, 2018, 09:51:46 am »
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

we agree, kindly support.

Offline crazybit

Re: To switch to feed real market price in CNY market?
« Reply #11 on: December 26, 2018, 10:05:24 am »
i will feed the market price as well

Offline finn-bts

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Re: To switch to feed real market price in CNY market?
« Reply #12 on: December 26, 2018, 10:10:25 am »
i will feed the market price as well
thanks :)

Offline finn-bts

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Re: To switch to feed real market price in CNY market?
« Reply #13 on: December 26, 2018, 10:55:05 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
I think we should also try to contact witnesses who offer too low a price and ask them to provide an accurate price.

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #14 on: December 26, 2018, 11:26:59 am »
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

we agree, kindly support.
I have supportted, but seems the feed price from gdex-witness still 3%-4% higher than market price.

Offline bitcrab

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Re: To switch to feed real market price in CNY market?
« Reply #15 on: December 26, 2018, 11:28:26 am »
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

we agree, kindly support.
I have supportted, but seems the feed price from gdex-witness still 3%-4% higher than market price.

will adapt soon.

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #16 on: December 26, 2018, 11:32:54 am »
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

we agree, kindly support.
I have supportted, but seems the feed price from gdex-witness still 3%-4% higher than market price.

will adapt soon.
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.

Offline finn-bts

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Re: To switch to feed real market price in CNY market?
« Reply #17 on: December 26, 2018, 11:35:11 am »
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

we agree, kindly support.
I have supportted, but seems the feed price from gdex-witness still 3%-4% higher than market price.

will adapt soon.
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.
The bitcny acceptance business of MagicWallet has been paralyzed for a long time. I think we don't have much time. Now the price is the real price. Now bitcny has generated a premium of more than 10%. If the mortgagor is not encouraged to produce bitcny to eliminate the feed price as soon as possible, it is only a matter of time before global liquidation occurs

Offline Bangzi

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Re: To switch to feed real market price in CNY market?
« Reply #18 on: December 26, 2018, 11:45:32 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

Bangzi feeding market price since few weeks ago. Bangzi also provide seed node, API node and testnet witness node. Kindly support.
Please Vote for My Witness: Bangzi
My Blog: https://steemit.com/@bangzi
请投票支持比特股见证人: Bangzi

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #19 on: December 26, 2018, 11:52:47 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

Bangzi feeding market price since few weeks ago. Bangzi also provide seed node, API node and testnet witness node. Kindly support.
sorry, you guys too late to response.
Building trust is not something that can be achieved overnight.

Offline xeroc

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Re: To switch to feed real market price in CNY market?
« Reply #20 on: December 26, 2018, 01:54:14 pm »
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.
Sorry for the late response. We have Christmas season in Europe and plenty of appointments with family and friends.
I will look into this an moment.

edit:
I just removed my vote from witnesses xn-delegate, roelandp, and xman as they are feeding CNY prices that are more than 8% off.
gdex-witness promised to fix their feed script shortly.
I have also removed openledger-dc since they feed a USD price that is almost 20% off.
« Last Edit: December 26, 2018, 01:58:07 pm by xeroc »
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Offline roelandp

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Re: To switch to feed real market price in CNY market?
« Reply #21 on: December 26, 2018, 02:15:13 pm »
I have removed bsip42 - will write a script to monitor the voting poll asap. I was in Xmas mode a bit too much. Thank you for considering revoting me @bitcrab @alt @xeroc. :humblebow:
« Last Edit: December 26, 2018, 10:14:43 pm by roelandp »

Offline xiangxn

Re: To switch to feed real market price in CNY market?
« Reply #22 on: December 26, 2018, 02:19:03 pm »
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.
Sorry for the late response. We have Christmas season in Europe and plenty of appointments with family and friends.
I will look into this an moment.

edit:
I just removed my vote from witnesses xn-delegate, roelandp, and xman as they are feeding CNY prices that are more than 8% off.
gdex-witness promised to fix their feed script shortly.
I have also removed openledger-dc since they feed a USD price that is almost 20% off.

Sorry, I am in China, the feed price has been revised, I hope you can continue to vote for me.
Please vote for my witness: xn-delegate
My wallet:https://btsgo.net/

Offline Bangzi

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Re: To switch to feed real market price in CNY market?
« Reply #23 on: December 26, 2018, 02:27:40 pm »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

Bangzi feeding market price since few weeks ago. Bangzi also provide seed node, API node and testnet witness node. Kindly support.
sorry, you guys too late to response.
Building trust is not something that can be achieved overnight.

True! Please check this:
https://bitsharestalk.org/index.php?topic=27470.msg325397#msg325397
Please Vote for My Witness: Bangzi
My Blog: https://steemit.com/@bangzi
请投票支持比特股见证人: Bangzi

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #24 on: December 26, 2018, 08:54:42 pm »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
thank you.
I have to wait until all the wrong feed price be voted out or be fixed.
I need to make sure the majority voter have got the consensus to provide the real feed price, then I will support to reduce MSSR ASAP.
I wonder if you could support some witnesses who are willing to offer the right price.Instead of just waiting. like gdex-wintness abc123
I will support gdex-witness if they agree to give the right feed price. feed price is the base requirment, not the sufficient.
And I still have to wait those witness who give wrong feed price be voted out.

Bangzi feeding market price since few weeks ago. Bangzi also provide seed node, API node and testnet witness node. Kindly support.
sorry, you guys too late to response.
Building trust is not something that can be achieved overnight.

True! Please check this:
https://bitsharestalk.org/index.php?topic=27470.msg325397#msg325397
Sorry I missed the post, I have support bangzi and bhuz just now.

Offline alt

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Re: To switch to feed real market price in CNY market?
« Reply #25 on: December 26, 2018, 08:58:59 pm »
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.
Sorry for the late response. We have Christmas season in Europe and plenty of appointments with family and friends.
I will look into this an moment.

edit:
I just removed my vote from witnesses xn-delegate, roelandp, and xman as they are feeding CNY prices that are more than 8% off.
gdex-witness promised to fix their feed script shortly.
I have also removed openledger-dc since they feed a USD price that is almost 20% off.
thank you.

Offline roelandp

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Re: To switch to feed real market price in CNY market?
« Reply #26 on: December 26, 2018, 10:56:12 pm »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.
I think we should also try to contact witnesses who offer too low a price and ask them to provide an accurate price.

:) would have loved to hear something, but have to blame myself for not shutting of BSIP42 earlier. Have done so earlier today. Wishing you all a good New Year's Eve (for the western's)

Offline Xeldal

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Re: To switch to feed real market price in CNY market?
« Reply #27 on: December 27, 2018, 01:36:34 am »
proxy bitcrab will vote these witnesses out tomorrow morning if they do not change, give them some time to response.

Witness xeldal has been feeding real price for nearly a week now.  Will continue to do so. 

seed-node: bts-seed.xeldal.com
api-node: kc-us-dex.xeldal.com

All, Please consider your vote.
Thank you.

Offline ivandev

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Re: To switch to feed real market price in CNY market?
« Reply #28 on: December 27, 2018, 08:52:34 am »
openledger-dc has revised and updated feeds, according to real prices. Could you consider voting back?
thanks.
I don't want to waste time, so if you can contact xeroc admit to vote out those witness still give wrong feed price tomorrow.
I will support reduce MSSR soon.
Sorry for the late response. We have Christmas season in Europe and plenty of appointments with family and friends.
I will look into this an moment.

edit:
I just removed my vote from witnesses xn-delegate, roelandp, and xman as they are feeding CNY prices that are more than 8% off.
gdex-witness promised to fix their feed script shortly.
I have also removed openledger-dc since they feed a USD price that is almost 20% off.