Author Topic: Which witnesses do not doing well in CNY price feeding?  (Read 9309 times)

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Offline bitcrab

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开了个新帖:https://bitsharestalk.org/index.php?topic=28383.0

以后喂价问题去那里提供证据,投诉喂价不合理的见证人
Email:bitcrab@qq.com

Offline finn-bts

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If you can't provide a quality feed price and  timely view and maintenance it, and didn't understand how important to the smarcoin,  please withdraw the witness position.

and this also talk to some committee and big Proxy,don't play like a zombie.

The witness should have a threshold,which one he want to become a witness should lock 5M bts in the system, i didn't want someone didn't have 1 bts to become the witness and sunk blood from the system.

If the fuction of the witness is producing the block only,give Snoopy a computer it wil also can do this.

How about let Snoopy become the witness?



I agree
pretty good idea

Offline dirnet

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If you can't provide a quality feed price and  timely view and maintenance it, and didn't understand how important to the smarcoin,  please withdraw the witness position.

and this also talk to some committee and big Proxy,don't play like a zombie.

The witness should have a threshold,which one he want to become a witness should lock 5M bts in the system, i didn't want someone didn't have 1 bts to become the witness and sunk blood from the system.

If the fuction of the witness is producing the block only,give Snoopy a computer it wil also can do this.

How about let Snoopy become the witness?



I agree

Offline finn-bts

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If you can't provide a quality feed price and  timely view and maintenance it, and didn't understand how important to the smarcoin,  please withdraw the witness position.

and this also talk to some committee and big Proxy,don't play like a zombie.

The witness should have a threshold,which one he want to become a witness should lock 5M bts in the system, i didn't want someone didn't have 1 bts to become the witness and sunk blood from the system.

If the fuction of the witness is producing the block only,give Snoopy a computer it wil also can do this.


I agree with you

Offline binggo

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If you can't provide a quality feed price and  timely view and maintenance it, and didn't understand how important to the smarcoin,  please withdraw the witness position.

and this also talk to some committee and big Proxy,don't play like a zombie.

The witness should have a threshold,which one he want to become a witness should lock 5M bts in the system, i didn't want someone didn't have 1 bts to become the witness and sunk blood from the system.

If the fuction of the witness is producing the block only,give Snoopy a computer it will also can do this.

How about let Snoopy become the witness?


« Last Edit: May 09, 2019, 03:08:58 am by binggo »

Offline binggo

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« Last Edit: May 09, 2019, 01:07:04 am by binggo »

Offline alt

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correct, witness should compare with his old feed price.
there will be a big problem when we got a big wrong feed price even only 1 sec.

If the median is manipulated to 0.05 then a will update his feed when he checks next. That's why I said you should *check* frequently.

I admit that in your example the feed would be very much off for a short period of time, which could have catastrophic effects. It is an extreme example though, and I think that in practice such a situation would not occur.

Still, it makes sense to add another rule:

d) if your calculated feed price is off from your published feed price by more than 1-2%, you *should* publish the new price.

Offline pc

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If the median is manipulated to 0.05 then a will update his feed when he checks next. That's why I said you should *check* frequently.

I admit that in your example the feed would be very much off for a short period of time, which could have catastrophic effects. It is an extreme example though, and I think that in practice such a situation would not occur.

Still, it makes sense to add another rule:

d) if your calculated feed price is off from your published feed price by more than 1-2%, you *should* publish the new price.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline alt

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Then I do not understand where you see a problem.

If b feeds 0.1 and c feeds 0.101 then it doesn't matter if a feeds 0.06 or 0.09.

It is only important that a *checks* frequently what the price is. Then if b suddenly feeds 0.059, a can update quickly.
a feeds 0.05, b feeds 0.1, c feeds 0.101, then either b or c got a chance to manipulate the median price from 0.101 to 0.05.
if there are 21 witness, 10 feeds 0.05, 11 feeds 0.10, either of the 11 have a chance to maniuplate the median price to 0.05.

Offline pc

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Then I do not understand where you see a problem.

If b feeds 0.1 and c feeds 0.101 then it doesn't matter if a feeds 0.06 or 0.09.

It is only important that a *checks* frequently what the price is. Then if b suddenly feeds 0.059, a can update quickly.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline alt

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In your example a majority of witnesses collude to manipulate the feed price. That always works, independent from what the minority does.
nobody manipulate the feed price, they just been supposed to follow your suggestion, didn't update price when it can't change the median price.

Offline pc

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you are definitely wrong.
every witness should input the feed price without any dependence from other witness or median price.
this is what the meaning of "witness".

here is a possible result when follow your suggest:
suppose there are 3 witness, a gives price 0.059USD, b gives 0.06 USD, c gives 0.061 USD
when the price rise, b change to 0.061, c change to 0.062, a get a new price at 0.06, so he don't need to update feed price.
when b and c goes to 0.062, 0.063, a still keep unchange.
...
when b and c goes to 0.1, 0.101, a still keep unchange.
now b and c got a chance to control median price between 0.059 to 0.1.

for 21 witness, when there are 11 witness always get a little bit higher price, while other 10 always get a little bit lower, this could happen too.

Is that were we are trying to go with this? Provide frequent up to a minute feeds?

*Publishing* a feed every 2 minutes is normally not required.

*Checking* the feed often is a good idea though. Technically you need to publish only if
a) your feed is about to expire, or
b) if the new feed price would change your position relative to the median (i. e. old price was below median and new price is above, or vice versa), or
c) your feed price *is* the median

You may want to publish more often than that to avoid being accused of neglecting your duties. :-/

In your example a majority of witnesses collude to manipulate the feed price. That always works, independent from what the minority does.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline zhouxiaobao

There are many crypto exchanges around the world. They trade many coins and fiat currency, and they charge different fees. For example coinbase charges about .5% to trade and there are withdrawal fees. We can't feed prices based on all the fees that traders pay to acquire a particular coin, it would be impossible to get an accurate feed that way. So this is not how the feed price works or should work:

      The feed price should be  “how much RMB does it cost to buy 1 BTS?”
      But ,all along, I have been unable to use RMB to buy BTS  at this feed price .It is too low.
     (DEX price *bitCNY premium )is the actual price I paid.
     It is totally unfair that the feed price is lower than the price I actually paid.

       This is ridiculous!
       For example,There are two exchanges, one handling fee is 10%, BTS price is 0.9; The other one handling fee is 1%, BTS's price is 1. How to determine the feeding price?0.95?
       
       It is true that there are too many transactions that cannot be counted accurately. should we take the higher one more reasonably?

Offline zhouxiaobao



you do realise the prices we publish  are not random right?

I could cherry pick a combination of exchange routes from USD -> BTS or CNY -> BTS that result in even lower price or even higher than the ones you mention.

Thats why we take all of them into account.

       Don't you think there is no handling charge for such many price changes?All major CEX give you free exchange?
       This is why the feed price thus calculated is always surprisingly low.
        The feed price should not be lower than the actual price paid by investors to buy a BTS in the DEX  market.
        In fact, the feed price should take the highest price of several major CEX and DEX, because this is the actual amount of RMB paid by investors.

Offline sahkan

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There are many crypto exchanges around the world. They trade many coins and fiat currency, and they charge different fees. For example coinbase charges about .5% to trade and there are withdrawal fees. We can't feed prices based on all the fees that traders pay to acquire a particular coin, it would be impossible to get an accurate feed that way. So this is not how the feed price works or should work:

      The feed price should be  “how much RMB does it cost to buy 1 BTS?”
      But ,all along, I have been unable to use RMB to buy BTS  at this feed price .It is too low.
     (DEX price *bitCNY premium )is the actual price I paid.
     It is totally unfair that the feed price is lower than the price I actually paid.