[Nubot Gateway] Poloniex @zoro (sell offset:0.25% , buy offset:5% ) - stand by

masterOfDisaster 2016-06-06 08:15:43 UTC #281

More details:

nud getliquiditydetails B | grep 0.3.2a_1465197677189_2ee2ec -A 2
        "1:NBTBTC:poloniex:0.3.2a_1465197677189_2ee2ec" : {
            "buy" : 750.0,
            "sell" : 1500.0
--
        "2:NBTBTC:poloniex:0.3.2a_1465197677189_2ee2ec" : {
            "buy" : 6468.13,
            "sell" : 29219.8262

mhps 2016-06-06 09:28:34 UTC #282

things are going so slow you can monitor it once 12 hr on the first day, find out how quickly the walls get eaten (say x hours), make adjust ment, and come back to see see the result after x hours.
Plus we can help monitor it like mod did above.

masterOfDisaster 2016-06-06 14:06:08 UTC #283

@zoro, what about your NuBot?
My two NuBots reported errors. I restarted them.
New errors:

14:03:31.965 [main] ERROR - Post Data: currencyPair=BTC_NBT&nonce=1465221751291&command=returnOpenOrders [c.n.n.t.w.PoloniexWrapper:932]
14:03:31.974 [main] ERROR - Unexpected character (<) at position 0. [c.n.n.t.w.PoloniexWrapper:947]
14:03:31.977 [main] ERROR - answer:<html><head><title>404 Not Found</title></head><body bgcolor="white"><center><h1>404 Not Found</h1></center><hr><center>nginx/1.6.2</center></body></html> [c.n.n.t.w.PoloniexWrapper:948]
14:03:31.987 [main] ERROR - could not launch bot com.nubits.nubot.bot.NuBotRunException: Problems while validating communication with exchange : [ ApiError [4 : Null Return] ] [c.n.n.l.MainLaunch:173]

It looks like Poloniex is down. At least I can’t load it in the browser.
Any news in the web? I haven’t searched yet… maybe it’s a regional problem?

Well:

Update:

@zoro, time to restart NuBot!

zoro 2016-06-06 19:23:54 UTC #284

Total Bitcoin 12.28748625
On orders: 3.23739749
BTC value: 12.28748625

NBT NuBits 30720.55729976
On orders: 6000.00000000
BTC value: 50.05761209

sell offset at 0.25%
buy offset at 5%

i would be happy to reduce buy offset even at 1% if FLOT wishes.

Get NuBits' liquidity flowing

masterOfDisaster 2016-06-06 20:12:03 UTC #285

Do it.
Although I’m against it.

But there’s no way to prove that I’m right, when I say this will empty the buy side faster than T5 and T6 can compensate and T4 will not be able to support it for long.

You have my vote as FLOT member to reduce the spread to 1%, because that’s Jordan’s vision for the future.

On top I predicte a fall of NSR rate, if not being supported for some time by people trying to cloak what’s happening, manipulating the market.

There’s only one thing that can save the reserve from running dry: the stop of the BTC bull run in combination with some confidence that’s left for the peg.

zoro 2016-06-06 20:20:19 UTC #286

Sorry, i don’t believe you
I would like for other FLOT members to “vote” for this!

Then we have to go for vacations for 1-2 months until after BTC halvation

masterOfDisaster 2016-06-06 20:23:50 UTC #287

Of course you should ask more than me!
@cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle, what’s your opinion on that matter?

jooize 2016-06-06 20:30:41 UTC #288

Vote 2 of 5-of-8 for 1% spread.

That means 0.5% offset on both sides, right?

zoro 2016-06-06 20:32:06 UTC #289

No.

even this 1% offset seems very extreme right now!

masterOfDisaster 2016-06-06 20:44:42 UTC #290

There’s not much room for interpretation. Only it says nothing about the symmetry…

I dearly hope if it fails, Jordan won’t hide behind:

@Jordan, you’d like to have <1% spread here and now (as soon as a FLOT consensus was reached), right?

jooize 2016-06-06 21:12:43 UTC #291

Does this not mean that?

The difference in percent (%) between the bid and ask on an orderbook.

— https://docs.nubits.com/glossary/#spread

https://discuss.nubits.com/uploads/default/_optimized/be4/c55/e8c348fb65_690x341.png

zoro 2016-06-06 21:20:20 UTC #292

Correct if you are referring to spread. But we are talking about offsets now
buy offset + sell offset = spread.

jooize 2016-06-06 21:22:41 UTC #293

Didn’t I say just that?

“1% spread = 0.5% offset on both sides”

zoro 2016-06-06 21:27:33 UTC #294

I had written 1% buy offset, not spread. I am not referring to sell side at all (for now)

jooize 2016-06-06 21:33:54 UTC #295

I’m in favor of 1% buy offset and 1% spread for your gateway, whichever may be approved by the rest of FLOT.

cryptog 2016-06-07 00:21:36 UTC #297

I am confused by spread and offset.
What would be the buy order price before fee?
1.01 or more when you say buy side 1% offset?

mhps 2016-06-07 02:53:27 UTC #298

Why ~ 9 btc are not on orders?

zoro 2016-06-07 06:45:07 UTC #299

0.99 when we talk about buy side spread.
Now it is like 0.95 because gateway has 5% buy offset as last line of defense.

They are used as T2, not showing in buy order book.

cryptog 2016-06-07 06:55:28 UTC #300

Got it. Tks.

mhps 2016-06-07 06:56:04 UTC #301

How is the T2 amount determined?