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
Nice. So you are using your own funds to “stabilize” the peg on CMC’s displayed charts?
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.
Request can be made directly by sending a tweet to @CoinMKTCap
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.
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 )
That is why i think shareholders should vote for: [Passed] Motion to Make the Nu Source Code Available
I am very happy to see things like this happening outside custodians bot actually!
Please do. The vote has stalled at 22.8%. I don’t think people realize how much of a boost this would be for Nu.
That does not look like a peg…
In the mean time,
We shouldn’t rely on coinmarketcap too much. As explained above just one figure is not enough. It’s important to know the timestamp of the price. In the future we’ll have public data available, so that we can investigate any large deviation and provide historic data. CMC by definition is not a good source, because it uses the last price only. What we actually want is live data and compare them accurately. That is much harder than one might think. I’m not even sure BitUSD is comparable as its traded not on exchanges. Basically that means they control the prices, AFAICS (I might be wrong, but it’s not comparably to trade against many exchanges).
One’s own Live data is really a MUST for a currency that aims at being the currency of the Web = The World’s First Stable Digital Currency
Run the price bot on your machine, @creon can help with the setup.
Txs for the suggestion - I’ll try asap
What price bot? NuBot?
I think he means this price stabilizer: https://github.com/creon-nu/nubit-stabilizer
My running bot ran out of NBT on CCEDK (had only 0.1 there) and so it wasn’t able to reset the price earlier. I filled it with one full NBT this noon and afterwards it successfully set the price from 0.00343133 to 0.00457 as you can see in the trade history on CCEDK when looking for 0.05 NBT trades, which are shown as two 0.05 NBT sells although one of them actually was a buy (no idea why this is happening on ccedk):
Can you post an NBT address? I can send a few your way
This is very nice but not required, thanks.
I just don’t want to let the bot run with more than tiny amounts because there could be a bug that depletes all the funds and since each price reset only requires to have 0.05 NBT balance on that account I don’t see how having much more NBT there would be useful.