Author Topic: Complaint against clockwork witness  (Read 1683 times)

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Offline clockwork

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Re: Complaint against clockwork witness
« Reply #30 on: May 15, 2019, 10:14:43 am »
The most important job for witnesses is reliably producing blocks. Other jobs, yes, they can do too. When voting, different people consider different things.

Technically, the committee is able to decide the list of feed producers for each asset, that said, if witnesses can't do the job well, let others do it. The community can discuss whether this is a better way.

Another option, technically we can change the rules via BSIPs. For example, let bitCNY holders and bitCNY debt position owners vote for feed producers of bitCNY asset, vote for the related parameters, which could be fairer. However, this is tricky as well, for example, if a whale borrows a lot but doesn't sell, so holding some bitCNY in the meanwhile holding a position, perhaps it can manipulate the whole vote then can make a disaster. Perhaps let bitCNY holders/borrowers have some weight in voting but not 100%? Perhaps let CORE in collateral have zero weight?

Just brain storming. Please discuss.

can we discuss in a topic with a different title though? :D

Online yamtt

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Re: Complaint against clockwork witness
« Reply #31 on: May 15, 2019, 11:16:36 am »


This is the feed price of clockwork?

Yes...ZBs API started timing out for me and has made the feed unstable due to limited sources...

As you can see it was readjusted a few mins later and I'm monitoring  its stability now.

Other people's no problem, I think you can, of course, the problem is inevitable but often problems. I think everyone will not agree.

Online yamtt

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Re: Complaint against clockwork witness
« Reply #32 on: May 15, 2019, 11:19:47 am »
Perhaps we should turn the witch hunt around and publish screenshots of short positions with low collateral ratio.

These guys are the cancer of BTS and must be punished! Vote for 150% MSSR please!

</sarcasm>


This would be considered a direct attack to a high ranked member who wants to increase feedprice ,lower MSSR to 1 so no margin call will get eaten anymore.
You are against long debt holders.You are an enemy.Making sure margin calls won't get eaten anymore gives debt holders security and will increase debt aka liquidity /irony off.

Btw the chinese forum has a nice thread why people with low price feed gets bashed.
First lower MCR than increase price feed and at the end lower MSSR to 1.01 with final goal 1.00 .
There is also explained why.


@yamtt
@finn-bts
@ljk424
@zhouxiaobao
@ioex

I see big activity from you guys to improve bitshares.How does it come you guys are so quite about the abused USD OMO Fund ?

I care about system balance, as well as identifying witnesses who don’t implement community consensus and those who are malicious or wrong.

Offline liondani

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Re: Complaint against clockwork witness
« Reply #33 on: May 15, 2019, 12:09:05 pm »
The most important job for witnesses is reliably producing blocks. Other jobs, yes, they can do too. When voting, different people consider different things.

Technically, the committee is able to decide the list of feed producers for each asset, that said, if witnesses can't do the job well, let others do it. The community can discuss whether this is a better way.

Another option, technically we can change the rules via BSIPs. For example, let bitCNY holders and bitCNY debt position owners vote for feed producers of bitCNY asset, vote for the related parameters, which could be fairer. However, this is tricky as well, for example, if a whale borrows a lot but doesn't sell, so holding some bitCNY in the meanwhile holding a position, perhaps it can manipulate the whole vote then can make a disaster. Perhaps let bitCNY holders/borrowers have some weight in voting but not 100%? Perhaps let CORE in collateral have zero weight?

Just brain storming. Please discuss.

can we discuss in a topic with a different title though? :D

At the end of the day they will remember your name .... bad publicity is the same time good publicity... just be worried if they spell your name right :)

Offline Digital Lucifer

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Re: Complaint against clockwork witness
« Reply #34 on: May 15, 2019, 01:01:06 pm »
BHUZ EXAMPLE


Clockwork - just publish feeds every 1+ hour like everybody else, I believe you'll get less problems.



See ? Your feed is too tight man. Every 20 mins... Better save those 3-4 BTS extra like others and all good ;)


Chee®s

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Offline Digital Lucifer

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Re: Complaint against clockwork witness
« Reply #35 on: May 15, 2019, 01:08:41 pm »
The most important job for witnesses is reliably producing blocks. Other jobs, yes, they can do too. When voting, different people consider different things.

Just brain storming. Please discuss.

Agree - Somehow our entire ecosystem is going nuts about someone who has less missed blocks than 30% of the entire block production line.
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Offline George_Bitspark

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Re: Complaint against clockwork witness
« Reply #36 on: May 16, 2019, 12:38:14 pm »
Dont see any issues with clockworks feeds, the price of bitCNY on the DEX is irrelevant to the feed, the price at any given time reflects market sentiment on the DEX for that smartcoin. Feeds are meant to reflect an accurate price of CNY in BTS from third party sources otherwise if the price comes from your own DEX trading price then it can easily be manipulated. Are the formulas published openly ?
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Online binggo

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Re: Complaint against clockwork witness
« Reply #37 on: May 16, 2019, 01:38:23 pm »
the price of bitCNY on the DEX is irrelevant to the feed

How did you get this answer?

All the picture is fake?
« Last Edit: May 16, 2019, 01:45:46 pm by binggo »

Offline xeroc

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Re: Complaint against clockwork witness
« Reply #38 on: May 16, 2019, 01:54:29 pm »
Dont see any issues with clockworks feeds, the price of bitCNY on the DEX is irrelevant to the feed, the price at any given time reflects market sentiment on the DEX for that smartcoin. Feeds are meant to reflect an accurate price of CNY in BTS from third party sources otherwise if the price comes from your own DEX trading price then it can easily be manipulated. Are the formulas published openly ?
Not sure what people ae using, but I started a feed script back in the days and Zapata worked on it even more:
https://github.com/Zapata/bitshares-pricefeed/blob/develop/bitshares_pricefeed/pricefeed.py#L374
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Offline zhouxiaobao

Re: Complaint against clockwork witness
« Reply #39 on: May 16, 2019, 02:07:44 pm »
Dont see any issues with clockworks feeds, the price of bitCNY on the DEX is irrelevant to the feed, the price at any given time reflects market sentiment on the DEX for that smartcoin. Feeds are meant to reflect an accurate price of CNY in BTS from third party sources otherwise if the price comes from your own DEX trading price then it can easily be manipulated. Are the formulas published openly ?
       The total number of BTS is 2.7 billion. Excluding some whales that basically do not participate in the trade, the number of active BTS is probably not more than 2 billion. Today, DEX's trading volume is over 70 million, usually tens of millions. I think DEX is probably BTS's largest market (obviously, many CEX trading volumes are exaggerated). The feed price does not consider DEX's price, which is very unreasonable.
       
      The price on DEX is completely true. In China, DEX recharges or withdraws more than several hundred thousand RMB every day, even reaching several million RMB when the market is hot. BTS price is (DEX price * premium).

Offline xeroc

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Re: Complaint against clockwork witness
« Reply #40 on: May 16, 2019, 02:20:12 pm »
To my knowledge most price feeds **DO** consider the dex price too. But usually prices are **VOLUME** weighted.
Arguable, this needs to be use carefully with exchanges that fake their volume.
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Offline zhouxiaobao

Re: Complaint against clockwork witness
« Reply #41 on: May 16, 2019, 05:32:18 pm »
To my knowledge most price feeds **DO** consider the dex price too. But usually prices are **VOLUME** weighted.
Arguable, this needs to be use carefully with exchanges that fake their volume.
        According to DEX's current trading volume, I think the proportion of DEX price should reach at least 50%.
        According to the observation over the past few days, it seems that the price of DEX has almost no effect on the feeding price.
        I hope that the Council can come up with a unified rule for the provision of feed prices. The witnesses' feed prices are far too different.

Offline Digital Lucifer

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Re: Complaint against clockwork witness
« Reply #42 on: May 17, 2019, 03:48:56 am »
Dont see any issues with clockworks feeds, the price of bitCNY on the DEX is irrelevant to the feed, the price at any given time reflects market sentiment on the DEX for that smartcoin. Feeds are meant to reflect an accurate price of CNY in BTS from third party sources otherwise if the price comes from your own DEX trading price then it can easily be manipulated. Are the formulas published openly ?

BitCNY was traded, day before yesterday, on the DEX 6.99 and 7.05 for 1 bitUSD, while its actual fiat conversion rate was ~6.88

Regardless of what witness will feed, its heavy manipulated market and arbitrage from their fiat gateway to DEX and vice-versa. I do understand why so much interest for "perfection" around bitCNY, but i'm not letting someone like Alex being raped publicly without even decent colleague to ask him on PM - "hey man, whats up with your feed ? Do you need some help ?". Instead I see Asian community disregarding his timezone and regular life obligations on top of it, and just ram.

Btw, on the other hand, fellow stakeholders, if we are so much into the price feeds, why the f**k securitydatanode block producer is active, signing blocks and not providing ANY feeds ?
« Last Edit: May 17, 2019, 05:39:12 am by Digital Lucifer »
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Offline zhouxiaobao

Re: Complaint against clockwork witness
« Reply #43 on: May 17, 2019, 07:34:15 am »
      Bitusd is different from bitcny. As far as I know, in the United States, you cannot directly exchange legal tender for bitusd, but in China we can directly exchange legal tender for bitcny. 1bitusd is not equal to 1usd. it is obviously unreasonable to use bitusd to calculate the premium of bitcny.
        It is very clear how much RMB can be exchanged for 1bitcny. As can be seen from the Magic wallet, the daily transaction volume is at least hundreds of thousands.
        Why do I care about the feeding price? Because I invested more than 2 million RMB in DEX. I bought bitcny directly in RMB
 and then traded in DEX. This is what many people do in China.Bitcny has always been at a premium.
       I think to a large extent, it is the feeding price that affects the BTS price, not the BTS price that affects the feeding price. Because it may actually be DEX in BTS's largest trading market, but DEX has almost no effect on the feed price.

Online yamtt

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Re: Complaint against clockwork witness
« Reply #44 on: May 19, 2019, 10:43:49 am »


@blckchnd