Coinmarketcap : NBT --> $ 0.79

[cryptog]

Yes i noticed that. So perhaps the peg was not maintained (a flash crash ?) for a couple of micro-seconds without consequences since it was too fast to exploit?

[creon]

Not sure, we would need the log files of CMC to tell

[seki]

Check history in CCEDK. It seems that both buy and sell walls are oftently empty periodically by large orders!
can this be a bot malfunction?

[desrever]

[rant]
I have to admit that I get very distracted by all these post with alarming titles, and then I realise it boils down to nothing. Can I ask you a favour? Please stop it.

Look at the trade history on ccedk : 2 NBT have been transacted at that price.

02.02.2015 12:42 Buy 2.04656353 NBT 0.0031 BTC 0.00634435 BTC

The peg is not lost, nothing is lost, nubits are always available at 1$ both for sell and buying in large volumes with BTC , PPC and USD. Someone sold 2 NBT at lower price. That’s it, next time please change the title.

There are already 3 posts talking about “liquidity getting thinner” and explanations.

We love CMC and want to see always 1$ regardless they are broken? Well then instead of opening a post, get there, buy 0.01 NBT at 1$ and in less than 1 minute CMC will pick it up. I just did it.

Chose one domain you really like and try to improve nubits adoption. If you notice a problem try to solve it yourself, if not, try to ask the community to address it. But avoid ringing alarms and propose solutions
[/rant]

peace

[creon]

We love CMC and want to see always 1$ regardless they are broken? Well then instead of opening a post, get there, buy 0.01 NBT at 1$ and in less than 1 minute CMC will pick it up. I just did it.

I agree that the title should be changed, but the fact that CMC, as one of the major sources for coin markets, displays these wrong numbers on a normal and functional operation is a bad thing.

Maybe the NuBot could check after resetting the walls how much the last price deviates from the target value. If it deviates too much the bot will buy/sell to itself using the minimal required amount of coin. (I hope this isn’t illegal though, people may see it as manipulation although it is more a dirty hack to overcome the short time periods where no walls are present and to “update” the API of the exchange).

[Ben]

I agree that the title should be changed, but the fact that CMC, as one of the major sources for coin markets, displays these wrong numbers on a normal and functional operation is a bad thing.

In this case, it wasn’t a NuBot order that caused the price, it was someone else’s buy order. Liquidity is still low enough on CCEDK’s NBT/BTC market (intentionally, to an extent, to limit exchange default risk) that the entire sell or buy side set of orders can be acquired by a single trader.

You can see for yourself the indicators if you look at the summary data in @KTm’s twice-hourly reports. Take a look at the average order sizes over the last day, week, month, and since Nu launched – 1000s of NBT per transaction. To me this clearly shows that the trade volume is organic, but the participants are a very small number of traders that move larger blocks of NBT and BTC back and forth seeking profits when the NBT/BTC exchange rate is volatile.

"pairURL":"https://www.ccedk.com/nbt-btc",
"trades":{
    "day":{
        "buy":{
            "avgOrderSize":6896.88342914,
            "avgPrice":0.0045029,
            "commission":0.002,
            "highPrice":0.00456876,
            "lastTradeTime":1422892400000,
            "lowPrice":0.00443201,
            "orders":4,
            "sumFees":55.17506742,
            "sumSales":27587.53371656
        },
        "filePath":"https://kiaratamm.github.io/data/ccedk_nbtbtc/trades_lastday.json",
        "sell":{
            "avgOrderSize":6786.55950082,
            "avgPrice":0.00448178,
            "commission":0.002,
            "highPrice":0.00457639,
            "lastTradeTime":1422892148000,
            "lowPrice":0.00441332,
            "orders":8,
            "sumFees":108.58494345,
            "sumSales":54292.47600659
        }
    },
    "lifetime":{
        "buy":{
            "avgOrderSize":8689.88435607,
            "avgPrice":0.00329482,
            "commission":0.002,
            "highPrice":0.00568086,
            "lastTradeTime":1422892400000,
            "lowPrice":0.00211323,
            "orders":1268,
            "sumFees":22037.54671924,
            "sumSales":11018773.36350292
        },
        "filePath":"https://kiaratamm.github.io/data/ccedk_nbtbtc/trades_alltime.json",
        "sell":{
            "avgOrderSize":8568.86509289,
            "avgPrice":0.00324634,
            "commission":0.002,
            "highPrice":0.00572255,
            "lastTradeTime":1422892148000,
            "lowPrice":0.00214303,
            "orders":1303,
            "sumFees":22330.45971252,
            "sumSales":11165231.21603789
        }
    },
    "thirty":{
        "buy":{
            "avgOrderSize":11611.63848634,
            "avgPrice":0.0040652,
            "commission":0.002,
            "highPrice":0.00568086,
            "lastTradeTime":1422892400000,
            "lowPrice":0.00327143,
            "orders":466,
            "sumFees":10822.04706592,
            "sumSales":5411023.5346354
        },
        "filePath":"https://kiaratamm.github.io/data/ccedk_nbtbtc/trades_last30days.json",
        "sell":{
            "avgOrderSize":12867.11139365,
            "avgPrice":0.00401354,
            "commission":0.002,
            "highPrice":0.00572255,
            "lastTradeTime":1422892148000,
            "lowPrice":0.00326242,
            "orders":424,
            "sumFees":10911.30979079,
            "sumSales":5455655.23090742
        }
    },
    "week":{
        "buy":{
            "avgOrderSize":9671.57117563,
            "avgPrice":0.00421576,
            "commission":0.002,
            "highPrice":0.00468567,
            "lastTradeTime":1422892400000,
            "lowPrice":0.00364854,
            "orders":132,
            "sumFees":2553.2947893,
            "sumSales":1276647.39518323
        },
        "filePath":"https://kiaratamm.github.io/data/ccedk_nbtbtc/trades_lastweek.json",
        "sell":{
            "avgOrderSize":12736.10328354,
            "avgPrice":0.00426873,
            "commission":0.002,
            "highPrice":0.0046864,
            "lastTradeTime":1422892148000,
            "lowPrice":0.00367223,
            "orders":102,
            "sumFees":2598.16492654,
            "sumSales":1299082.53492126
        }
    }
},

Maybe the NuBot could check after resetting the walls how much the last price deviates from the target value.

NuBot already does this. The price paid for the 2 NBT that started this discussion weren’t part of the custodian’s wall. The BTC that normally would have been on the buy-side had previously been used to buy back a large number of NBT that the trader moved in one go.

Version 0.1.5 of NuBot allows for max order placement (see Jordan Lee’s post this morning about it). This enhancement will go a long way to cutting down these massive “back-and-forth” trades.

[creon]

Of course it wasn’t any of the NuBot’s orders that created this price, it happened during the time where rebalancing was in progress and not yet established on the buy side. But even after the walls were placed, the “last price” field of the exchange API remained at the low price until the first order of the NuBot was filled.

That’s why I suggested that the bot should automatically fill one of its orders once the walls are set up, if the last price deviates too much from 1$. This way the exchange API will provide the correct value to CMC and others.

[desrever]

I suggested that the bot should automatically fill one of its orders once the walls are set up,

Yep, actually I can make a stand alone bot CMCEqualizerBot that can be run separately from nubot … Its on the roadmap … Do you think should be prioritised?

[woodstockmerkle]

Was this due to moving around liquidity, or the cancel/create order process?

If the latter, if NuBot is to manage say 1000 NBT, can it place 2 orders of 500 NBT, and smartly cancel / create the orders so there is no gap? Is something like that in-scope for future NuBot development?

[creon]

This could have a stabilizing effect, although the NuBot itself knows best if the price is wrong when it sets the walls. An external tool would also require to handle the credentials to the exchange twice.

Not sure if all this is a priority, I think at can be hacked together rather quickly. I am not so much the java guy, but I could write a short python script that would do the job.

[creon]

Yes it can do what you describe, but in our case here the event occurred that one side was completely wiped out through a very big order, and the rebalancing took enough time to disturb the price tickers.

[desrever]

Was this due to moving around liquidity, or the cancel/create order process?

moving around liquidity. No buy walls

can it place 2 orders of 500 NBT, and smartly cancel / create the orders so there is no gap?

This is how it is designed : two orders for this reason. The “Smart” cancel / create in the past created several problems so we dropped it from 0.1.4 . Now everything will change again

[creon]

Yep, actually I can make a stand alone bot CMCEqualizerBot that can be run separately from nubot

I implemented this bot that runs separately from nubot. Every 60 seconds it checks if the last price of pegged coins on exchanges and executes a market order if the price deviates too much from 1 USD. So far I only wrote interfaces for Bter, CCEDK and exco.in, but I can probably add other exchanges too. I’ll probably let it run on my Pi for the BTC markets. Enjoy

verc/nubit-stabilizer/blob/master/stabilizer.py

[cryptog]

Nice. So you are using your own funds to “stabilize” the peg on CMC’s displayed charts?

[benjyz]

The simple solution to this “problem” would be that coinmarketcap displays the mid-price, not last price. Last price is history, mid-price is current. History can be stale.

[crypto_coiner]

Request can be made directly by sending a tweet to @CoinMKTCap

[desrever]

Wish to see more of these, well done

@assistant tip 5 @creon

[creon]

Thank you very much for the tip. Of course the NuBot could react much more in time than an external script like this, but maybe this is already sufficient to reduce the variation on CMC etc.

Wish to see more of these

Not trying to influence other’s voting decision, but if Nu becomes open source then you will see a ton of these (at least many from me, already started a list )

[cryptog]

if Nu becomes open source t

That is why i think shareholders should vote for: [Passed] Motion to Make the Nu Source Code Available

[desrever]

I am very happy to see things like this happening outside custodians bot actually!