Author Topic: Committee proposals to change price feed producers of bitCNY and bitUSD  (Read 14509 times)

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Offline Bhuz

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As a committee member, I support the decoupling of price feeding from block production, making them two separate roles.
Therefore I am supporting the two committee proposals.

I am also willing to feed prices for BitUSD and BitCNY according to what is deemed necessary by stakeholders through their achieving-consensus rules.
« Last Edit: October 17, 2019, 11:56:20 am by Bhuz »

Offline vianull

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witness.hiblockchain would like to continue price-feeding , and follow BSIP76 rules
We are bts.ai  team
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Offline EuropaSH

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謝謝你

我們將在論壇上註冊。

thanks for the opportunity. it greatly strengthens friendships and helps blockchain technology progress
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Offline EuropaSH

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https://cryptofresh.com/p/1.10.50330
https://cryptofresh.com/p/1.10.50333

If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.

If you aren't an active witness, but have interest in feeding price for bitCNY and/or bitUSD, please also leave your message.

Thanks for participation.

It is right. These BSIP76 innovations are necessary. We understand the importance of adjustments. This offer is necessary for the Bitshares at the moment. We support this proposal.
« Last Edit: October 16, 2019, 10:10:05 pm by EuropaSH »
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Offline bitcrab

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gdex.witness would like to work as price feeder and follow BSIP76.

I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.

I have often pointed out that this will create a feedback loop, because the feed price already affects trading activity on the DEX. Feedback loops are inherently unstable and dangerous, and should be avoided.
exactly.
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Offline pc

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I created 2 committee proposals to remove the "witness_fed_asset" flag from bitCNY and bitUSD.

https://cryptofresh.com/p/1.10.50330
https://cryptofresh.com/p/1.10.50333

Thanks @abit . I support this.

I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.

I have often pointed out that this will create a feedback loop, because the feed price already affects trading activity on the DEX. Feedback loops are inherently unstable and dangerous, and should be avoided.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline liondani

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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.

Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between  min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?

https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds

There is no market on DEX.500k BTS dump and you tank the price to 0

That would be just a spike. We can defend against such kind of attacks. But consider that changing price-feeds source to the dex would very fast increase liquidity in my opinion because of new opportunity's for profit... I see many willing to open limit orders or using the DEX bot...   

Offline Thul3

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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.

Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between  min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?

https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds

There is currently no market on DEX.500k BTS dump and you tank the price to 0

Offline Bangzi

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Offline liondani

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I like very much the idea from Dan Notenstein aka blocktrades to use BitShares Decentralized Exchange (DEX) market for BitUSD and BitCNY pricefeeds.

Maybe if we combine his idea with defences against several attack vectors on low liquidity markets(?), like triggering feed thresholds on certain limit down/up occasions or just feeding with dex prices only when feeds prices remains between  min/max deviation from recent average prices (24h maybe etc.). I think blocktrades idea is worth a serious debate! What do you think guys?

https://steempeak.com/bitshares/@blocktrades/using-a-bitshares-decentralized-exchange-dex-market-for-bitusd-and-bitcny-pricefeeds

Offline abit

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If you are an active witness, please reply in this thread about your plan, e.g. will stop feeding, or feed the market price, or feed by BSIP76 rules, or etc, for which asset.
As an active witness (in.abit) I'd like to continue feeding price for bitCNY and bitUSD according to the consensus, at this moment, the voting result of BSIP76.
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Offline abit

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The initial price feed producers would be active witnesses, they'll not get paid in the beginning.

Are you 100% certain of this? I don't want to end up with expiring feeds if this was not the case!
It's my proposal. Anyone who have a different proposal please describe it.

By what standard will new price feeders, which will need to be approved by the committee need to meet? What standards on price will the committee set? I am happy to consider any formulas for price feeding. This is very important to understand
What's your proposal about the standards? I'm interested to hear.

报名
Please describe what/how you will do, what resources do you have, and etc.

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Offline George_Bitspark

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By what standard will new price feeders, which will need to be approved by the committee need to meet? What standards on price will the committee set? I am happy to consider any formulas for price feeding. This is very important to understand
Bitspark- Cash to Cryptocurrency


Offline Bangzi

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Witnesses are busy, is not uncommon witnesses never check price feed and let it expire for few days before someone inform them. I believe if committee empower a group of oracles/price feed producers who can monitor and correct price feed 24/7 would be much better. 
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