Author Topic: Which witnesses do not doing well in CNY price feeding?  (Read 3599 times)

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Online bitcrab

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Which witnesses do not doing well in CNY price feeding?
« on: April 11, 2019, 06:10:22 pm »
I open this thread and poll to provide a place for community to express their opinion on bitCNY price feeding.

good price feeding is so important, without it we cannot make bitCNY pegged well enough, and cannot convince users that BTS is a dependent financial system.

I hope that anyone vote here can at the same time provide proof and explanation on your selection.

 
« Last Edit: April 11, 2019, 06:16:02 pm by bitcrab »

Online binggo

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #1 on: April 12, 2019, 12:16:18 am »


0.4292 cny can buy 1 bts?
« Last Edit: April 12, 2019, 12:20:24 am by binggo »

Offline lin5464

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #2 on: April 12, 2019, 12:32:45 am »

Elmato is still feeding 1.1 MSSR so long after bsip59 took effect.
This kind of witnesses who ignore the community consensus are still supported by the proxy, why?

Online ljk424

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #3 on: April 12, 2019, 01:46:17 am »
当前bitusd兑bitcny实际汇率已经高达7.2:1,但是很多见证人仍然粗暴的使用6.8的汇率,将bitusd喂价转换为bitcny喂价发布,无视真实的cny交易价格,对bitcny交易对的用户造成了极大的不公和伤害。

Online bitcrab

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #4 on: April 12, 2019, 02:59:12 am »
update my selection:  now I vote magicwallet.witness, verbaltech2, sahkan-bitshares and elmato.

as shown below, at the moment DEX price is 0.4157bitCNY, bitCNY has about 1.8% premium,  a good feed price should be about 0.4157*1.018 = 0.423.

If an witness feed price which is 4%+ lower than such a price, I don't think he did a good job.

and elmato seems pay little focus on BTS now, he even feed MSSR=1.1 now, ignoring community consensus.







« Last Edit: April 12, 2019, 03:17:34 am by bitcrab »

Offline sahkan

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #5 on: April 12, 2019, 08:10:09 am »
I think you meant to say that you "unvoted" us. Seems to me that  everyone is within the specified 4%. Also I am one of the few (if not the only one) that uses paid price feeds so my feeds report changes a bit faster than the rest of the network.

Online clockwork

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #6 on: April 12, 2019, 08:55:40 am »
I think you meant to say that you "unvoted" us. Seems to me that  everyone is within the specified 4%. Also I am one of the few (if not the only one) that uses paid price feeds so my feeds report changes a bit faster than the rest of the network.

mine are paid too fwiw

Online bitcrab

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #7 on: April 13, 2019, 08:35:37 am »
I think you meant to say that you "unvoted" us. Seems to me that  everyone is within the specified 4%. Also I am one of the few (if not the only one) that uses paid price feeds so my feeds report changes a bit faster than the rest of the network.

mine are paid too fwiw

paid price feeds does not mean good price feeds.

it's not difficult to know what is the exact BTS price at a moment without rapid price change.

when I do below screenshoting, DEX price is of 0.4266, bitCNY has a premium of about 1.8%, BTS price should be about 0.434CNY.
at huobi BTS has a price of 0.0629 USDT and in OTC market 1USDT = 6.92CNY, so BTS price should be 0.435CNY.
but both paid price feeds gave price 1%+ lower than the market price.




« Last Edit: April 13, 2019, 08:47:18 am by bitcrab »

Online clockwork

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #8 on: April 13, 2019, 09:10:06 am »
I think you meant to say that you "unvoted" us. Seems to me that  everyone is within the specified 4%. Also I am one of the few (if not the only one) that uses paid price feeds so my feeds report changes a bit faster than the rest of the network.

mine are paid too fwiw

paid price feeds does not mean good price feeds.

it's not difficult to know what is the exact BTS price at a moment without rapid price change.

when I do below screenshoting, DEX price is of 0.4266, bitCNY has a premium of about 1.8%, BTS price should be about 0.434CNY.
at huobi BTS has a price of 0.0629 USDT and in OTC market 1USDT = 6.92CNY, so BTS price should be 0.435CNY.
but both paid price feeds gave price 1%+ lower than the market price.






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.

Online clockwork

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #9 on: April 13, 2019, 09:19:12 am »
Here...take your pick....




I'm getting tired of this.

We can't simply publish high prices because it suits some people.

same goes for low prices.

Online bitcrab

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #10 on: April 13, 2019, 09:21:11 am »
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.

my point is that we need to pay more weight on DEX price.
when market is stable and no unusual issues happen in DEX, price feed should not be lower than Pdex.
here, Pdex = DEX price in bitCNY * bitCNY premium/discount factor

Online bitcrab

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #11 on: April 13, 2019, 09:24:58 am »
Here...take your pick....




I'm getting tired of this.

We can't simply publish high prices because it suits some people.

same goes for low prices.

that's why I suggest to feed price based on DEX price and bitCNY premium/discount.

who know where there is an CEX has a price of 0.399? if there is, just arbitrage between it and DEX.

Online clockwork

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #12 on: April 13, 2019, 09:28:02 am »
Here...take your pick....




I'm getting tired of this.

We can't simply publish high prices because it suits some people.

same goes for low prices.

that's why I suggest to feed price based on DEX price and bitCNY premium/discount.

who know where there is an CEX has a price of 0.399? if there is, just arbitrage between it and DEX.

i believe that's coinegg IIRC

Online bitcrab

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #13 on: April 13, 2019, 09:42:49 am »
Here...take your pick....




I'm getting tired of this.

We can't simply publish high prices because it suits some people.

same goes for low prices.

that's why I suggest to feed price based on DEX price and bitCNY premium/discount.

who know where there is an CEX has a price of 0.399? if there is, just arbitrage between it and DEX.

and I greatly doubt that your calculation does not considered the premium of USDT, recently, 1USDT=6.92CNY but the official USD/CNY rate is about 6.71.

Online binggo

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Re: Which witnesses do not doing well in CNY price feeding?
« Reply #14 on: April 13, 2019, 09:49:59 am »
0.399 ::)?

 USD -> BTS? where can buy bts with USD?

 BTS ->BTC -> USD ->CNY? is this some of witness feed price?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 if can't make a true fiat price of BTS, please don't make the bitasset,

Now the feed price just become the fake price, i can't use the feed price to buy 1 bts from the CEX.


« Last Edit: April 13, 2019, 12:02:39 pm by binggo »