BTC prices at different exchanges or in different USD tokens

[mhps]

as of Sun Jun 5 15:45:50 UTC 2016
Bitfinex BTC 574.8099999999999 574.8 574.88
Polo NBT last : 0.00170066 lowestAsk : 0.00169436 highestBid : 0.00167770
polo nbt 588.007 590.193 596.054
polo tether 576.00000000 578.87699999 576.01000000

• bitfinex has a much smaller spread.
• poloniex nubit has a very high price and largest spread
• poloniex tether has a price close to bitfinex and lower spread.

[woolly_sammoth]

Did you happen to look at the ALP status page at the same time to see what the price feed was doing? I’ve just checked the NuPool log and the current price is 575.33 NBT/BTC.

[mhps]

what the price feed was doing?

Just figured out how to get it. Now the prices are

as of Mon Jun 6 01:04:52 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 575.25 575.11 575.3
ALP price feed “btc”: [575.1, 0.00173883]
Polo nbt 0.00168092 0.00169711 0.00168675
Polo nbt 594.912 589.237 592.856
polo tether 576.00000000 577.59999985 576.00000000

Price feed differs from orderbook greatly.

[mhps]

Price feed differs from orderbook greatly.

Still the same

as of Mon Jun 6 03:24:52 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 583.03 582.78 583.1799999999999
ALP price feed “btc”: [582.99, 0.0017153]
Polo nbt 0.00166130 0.00166373 0.00166082
Polo nbt 601.938 601.059 602.112
polo tether 582.90000000 578.33300001 582.90000000
and there is sound explanation

There is an explanation which shouldn’t be a surprice: the price 0.00166082 on polo is 4% below feed price. ALP leaves a ~5% gap (+0.7, -4) which is being filled by the free market. A lack of BTC causes the NBT price point to move down below feed price. This phenomenon is common for example btc-e constantly has lower btc/usd prices because it is not easy to send usd to it.

The small offset on the sell wall is useless for now as traders have placed orders (~700 nbt) that under cut ALP sell price.

[masterOfDisaster]

The small offset on the sell wall is useless for now as traders have placed orders (~700 nbt) that under cut ALP sell price.

And NuBot can’t deal with negative offsets as it seems.
Even if we wanted to, we couldn’t undercut these orders with the NuBot gateways.

[Cybnate]

Even if we wanted to, we couldn’t undercut these orders with the NuBot gateways.

I thought you could change the pricefeed source in NuBot?

[masterOfDisaster]

Sure, but I wouldn’t want to use polo as feed for polo.

Btw.
https://discuss.nubits.com/t/current-liquidity/1239/1917?source_topic_id=4031

[woolly_sammoth]

The gap seen on Poloniex will be due to the individual NuBot configurations rather than the ALP server itself. The ALP price feed is used to determine how far from the ideal price each order is and whether it deserve rewarding. We can tighten the tolerance on the ALP server but, in the absence of a true feedback system between the ALP server and each NuBot, it is down to the individual LP to ensure their orders meet that tolerance.
There is a multicustodian option in NuBot which most of the active ones will have enabled. That sets a minimum offset and synchronises the bots so that orders are moved within the same small window each minute, which leads to the gap in liquidity.
With that option disabled, the spread can be made smaller but there will be no synchronisation between the bots so they may well consume each others walls. It’s a tricky thing to do to get bots co-ordinated without a centralisation of some sort. The solutions put ion place till now have achieved it to a certain extent but all have their own downsides (minumum spread, pauses in liquidity, centralisation).
To achieve the small spreads that are being talked about we risk the only trades being made between NuBots. There arer lots of options in NuBot and the spread can certainly be bought down. I would just like everyone to be aware that the choices made for how NuBot functions were made based on the experience of it providing liquidity on real exchanges.

[mhps]

To achieve the small spreads that are being talked about we risk the only trades being made between NuBots. There arer lots of options in NuBot and the spread can certainly be bought down. I would just like everyone to be aware that the choices made for how NuBot functions were made based on the experience of it providing liquidity on real exchanges

Can you clarify what you mean by “the small spreads that are being talked about” ? Are you saying that 1% spread has big wall collision risks?

[mhps]

as of Tue Jun 7 13:44:50 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 584.0 583.99 584.0
ALP price feed “btc”: [584.0, 0.00171233]
Polo nbt 0.00163633 0.00164845 0.00163789
Polo nbt 611.124 606.63 610.542
polo tether 586.00000000 585.10000001 586.0

[mhps]

as of Wed Jun 8 16:30:19 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 576.3200000000001 576.28 576.320
ALP price feed “btc”: [576.32, 0.00173515]
Polo nbt 0.00152308 0.00153812 0.00152308
Polo nbt 656.564 650.144 656.564
polo tether 581.00000000 578.89999999 581.0000

[mhps]

just before this fund arrives

as of Thu Jun 9 02:50:18 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 577.71 577.7 577.8099999999999
ALP price feed “btc”: [577.5, 0.0017316]
Polo nbt 0.00163700 0.00163785 0.00161580
Polo nbt 610.874 610.557 618.888
polo tether 575.02605000 575.02605000 579.4700

[mhps]

fund arrived and the part at 1% SAF consumed in minutes

as of Thu Jun 9 02:56:52 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 577.5599999999999 577.3200000000001 577.37
ALP price feed “btc”: [577.56, 0.00173142]
Polo nbt 0.00167220 0.00168960 0.00167220
Polo nbt 598.015 591.856 598.015
polo tether 575.02605000 576.76000000 579.47000000

[mhps]

as of Fri Jun 10 11:27:45 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 576.9 576.63 576.88
ALP price feed “btc”: [576.9, 0.0017334]
Polo nbt 0.00104207 0.00104209 0.00104207
Polo nbt 959.628 959.61 959.628
polo tether 578.00000000 577.00001400 577.99

[mhps]

as of Mon Jun 13 12:31:11 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 702.01 701.3200000000001 703.66
ALP price feed “btc”: [704.8, 0.00141884]
Polo nbt 0.00045025 0.00046553 0.00045025
Polo nbt 2220.99 2148.09 2220.99 ***ratio to feed price 3.15123 3.0478 3.1512
polo tether 692.10000021 692.10000022 694.01223139

on polo 18btc (21k nbt) is needed to bring the peg to $1.

[cryptog]

18btc

Don t we have the 18btc in byc flot?

[nmei]

So we could buy it. But we can’t hold it…

[mhps]

18btc

we have. but if you throw 18 in, 28 will come out in 10minutes. you need to fend off a wave of accumulated selling pressure to hold a peg. i guess that means 100btc or more. even flot has the monwy it’s better to do this when btc is fallling.

[mhps]

ALP price feed “btc”: [704.8, 0.00141884]
Polo nbt 0.00045025 0.00046553 0.00045025
Polo nbt 2220.99 2148.09 2220.99 ***ratio to feed price 3.15123 3.0478 3.1512

btc price takes a dip

as of Mon Jun 13 15:56:35 UTC 2016
Last price, highestBid, lowestAsk
Bitfinex BTC 687.01 688.0700000000001 688.63
ALP price feed “btc”: [687.0, 0.0014556]
Polo nbt 0.00043001 0.00044080 0.00043002
Polo nbt 2325.53 2268.6 2325.47 ***ratio to feed price 3.38505 3.30219 3.3849
polo tether 673.00000000 673.15039999 677.72677509

nbt price basically unchanged

on polo 23btc (29k nbt) is needed to bring the peg to $1 – more selling?

[cryptog]

People need to think about the inevitable. A crash in bitcoin price.

PS: 85% of the buying comes from China because some people want to hedge against the devaluation of the Yuan compared to the US dollar.
Reminds me of when the Chinese gov started to impose drastic rules on bitcoin trading in Dec 2013 and then you know what happened next.