Author Topic: [Poll] BSIP76:Set bitCNY feed threshold  (Read 2584 times)

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Offline sschiessl

Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #15 on: October 08, 2019, 08:08:41 am »
How long will this be active for then? It's almost been 2 weeks now.
Until MCR for bitCNY is set to 1.5.
Min. feedprice can be lowered to 0.20625 bitCNY/BTS

I very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.

Online bitcrab

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #16 on: October 08, 2019, 09:43:43 am »
How long will this be active for then? It's almost been 2 weeks now.
Until MCR for bitCNY is set to 1.5.
Min. feedprice can be lowered to 0.20625 bitCNY/BTS

I very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.

I don't think that will happen, I don't think community will select to lower the threshold.

actually the current status is not so bad, although BTS market price is about 10% lower than 0.22CNY, bitCNY has about 4% discount, better than the 10%+ premium that we always see when MSSR=1.1.

Offline R

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #17 on: October 08, 2019, 10:41:51 am »
How long will this be active for then? It's almost been 2 weeks now.
Until MCR for bitCNY is set to 1.5.
Min. feedprice can be lowered to 0.20625 bitCNY/BTS

I very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.

I don't think that will happen, I don't think community will select to lower the threshold.

actually the current status is not so bad, although BTS market price is about 10% lower than 0.22CNY, bitCNY has about 4% discount, better than the 10%+ premium that we always see when MSSR=1.1.

It's more than 4% though, no? https://bitsharestalk.org/index.php?topic=29679.msg336034#msg336034

CNY feed price: 4.54545 BTS per 1 CNY (https://wallet.bitshares.org/#/asset/CNY)
1 CNY in USD (CURRENT): $0.140133 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=CNY&To=USD)
1 BTS in USD (CURRENT): $0.028488 (https://coinmarketcap.com/currencies/bitshares/)
(1-((4.54545*0.028488)/0.140133))*100= 7.594%


1 CNY in USD (26th september 2019): $0.140220 (https://www.poundsterlinglive.com/best-exchange-rates/best-us-dollar-to-chinese-yuan-history)
1 BTS in USD (26th september 2019): $0.025056 (same cmc source)
(1-((4.54545*0.025056)/0.140220))*100= 18.777% (That's a deep discount, no?)

Offline binggo

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #18 on: October 08, 2019, 12:03:16 pm »
I don't think the result you got is right.

The right answer is there: https://dev.bts.xyz/merchant/staff?action=recharge&asset=CNY


How long will this be active for then? It's almost been 2 weeks now.
Until MCR for bitCNY is set to 1.5.
Min. feedprice can be lowered to 0.20625 bitCNY/BTS

I very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.

I don't think that will happen, I don't think community will select to lower the threshold.

actually the current status is not so bad, although BTS market price is about 10% lower than 0.22CNY, bitCNY has about 4% discount, better than the 10%+ premium that we always see when MSSR=1.1.

It's more than 4% though, no? https://bitsharestalk.org/index.php?topic=29679.msg336034#msg336034

CNY feed price: 4.54545 BTS per 1 CNY (https://wallet.bitshares.org/#/asset/CNY)
1 CNY in USD (CURRENT): $0.140133 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=CNY&To=USD)
1 BTS in USD (CURRENT): $0.028488 (https://coinmarketcap.com/currencies/bitshares/)
(1-((4.54545*0.028488)/0.140133))*100= 7.594%


1 CNY in USD (26th september 2019): $0.140220 (https://www.poundsterlinglive.com/best-exchange-rates/best-us-dollar-to-chinese-yuan-history)
1 BTS in USD (26th september 2019): $0.025056 (same cmc source)
(1-((4.54545*0.025056)/0.140220))*100= 18.777% (That's a deep discount, no?)

Offline bench

Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #19 on: October 08, 2019, 12:34:28 pm »
How long will this be active for then? It's almost been 2 weeks now.
Until MCR for bitCNY is set to 1.5.
Min. feedprice can be lowered to 0.20625 bitCNY/BTS

I very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.

No margin call, because MCR (bitCNY)= 1.5!
Be part of the change and vote for the bitshares-vision proxy!

Online bitcrab

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #20 on: October 08, 2019, 12:35:53 pm »
It's more than 4% though, no? https://bitsharestalk.org/index.php?topic=29679.msg336034#msg336034

CNY feed price: 4.54545 BTS per 1 CNY (https://wallet.bitshares.org/#/asset/CNY)
1 CNY in USD (CURRENT): $0.140133 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=CNY&To=USD)
1 BTS in USD (CURRENT): $0.028488 (https://coinmarketcap.com/currencies/bitshares/)
(1-((4.54545*0.028488)/0.140133))*100= 7.594%


1 CNY in USD (26th september 2019): $0.140220 (https://www.poundsterlinglive.com/best-exchange-rates/best-us-dollar-to-chinese-yuan-history)
1 BTS in USD (26th september 2019): $0.025056 (same cmc source)
(1-((4.54545*0.025056)/0.140220))*100= 18.777% (That's a deep discount, no?)


bitCNY/CNY conversion fee at this moment:

« Last Edit: October 08, 2019, 12:38:08 pm by bitcrab »

Offline R

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #21 on: October 08, 2019, 04:03:54 pm »
I don't think the result you got is right.

The right answer is there: https://dev.bts.xyz/merchant/staff?action=recharge&asset=CNY

Your website isn't loading properly, it's displaying an indefinite spinning loading animation.

CMC shows the current BTS CNY price as 0.205061 & Coingecko say it's 0.203866, so:
4.54545 * 0.205061 = 0.93209  (6.79% below peg).
4.54545* 0.203866 = ‭0.92666 (‭7.334‬% below peg).

bitCNY/CNY conversion fee at this moment:

I'm unfamiliar with this trading exchange, but the shown rates are below my above estimates.

Offline abit

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #22 on: October 08, 2019, 06:29:05 pm »
As far as I can tell, data on CMC is not reliable.

72% of volume on BTS on CMC is from CoinEgg, with fake volume.
100% of volume on bitCNY on CMC is from CoinTiger, where you can't deposit/withdraw.

I have no idea how Coingecko got that data.
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Offline R

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #23 on: October 10, 2019, 02:58:33 pm »
As far as I can tell, data on CMC is not reliable.

72% of volume on BTS on CMC is from CoinEgg, with fake volume.
100% of volume on bitCNY on CMC is from CoinTiger, where you can't deposit/withdraw.

I have no idea how Coingecko got that data.
0.19975 CNY/BTS : https://www.livecoinwatch.com/price/BitShares-BTS
0.20149 CNY/BTS : https://coincodex.com/crypto/bitshares/?period=7D
0.2006 CNY/BTS: https://coincheckup.com/coins/bitshares/
0.208 CNY/BTS: https://coinlib.io/coin/BTS/Bitshares
0.20152 CNY/BTS: https://coincap.io/assets/bitshares

avg: (0.19975 + 0.20149 + 0.2006 + 0.208 + 0.20152)/5 = ‭0.202272‬ CNY/BTS
avg value of 1 bitCNY: 4.54545 * 0.202272‬ = ‭0.9194172624‬ = ‭8.058% below peg


Offline abit

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Re: [Poll] BSIP76:Set bitCNY feed threshold
« Reply #24 on: October 10, 2019, 10:24:32 pm »
As far as I can tell, data on CMC is not reliable.

72% of volume on BTS on CMC is from CoinEgg, with fake volume.
100% of volume on bitCNY on CMC is from CoinTiger, where you can't deposit/withdraw.

I have no idea how Coingecko got that data.
0.19975 CNY/BTS : https://www.livecoinwatch.com/price/BitShares-BTS
0.20149 CNY/BTS : https://coincodex.com/crypto/bitshares/?period=7D
0.2006 CNY/BTS: https://coincheckup.com/coins/bitshares/
0.208 CNY/BTS: https://coinlib.io/coin/BTS/Bitshares
0.20152 CNY/BTS: https://coincap.io/assets/bitshares

avg: (0.19975 + 0.20149 + 0.2006 + 0.208 + 0.20152)/5 = ‭0.202272‬ CNY/BTS
avg value of 1 bitCNY: 4.54545 * 0.202272‬ = ‭0.9194172624‬ = ‭8.058% below peg
Thanks for the links.
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