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Author Topic: Price speculation  (Read 4214387 times)

bidji29

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Re: Price speculation
« Reply #19880 on: February 20, 2015, 12:41:00 am »

My message was for CORE dev and dev who develop on top of it. Need communication betwwen the two
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jl777

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Re: Price speculation
« Reply #19881 on: February 20, 2015, 12:43:47 am »

My message was for CORE dev and dev who develop on top of it. Need communication betwwen the two
and we are!
if there are 100 devs working with NXT, it is not practical to have 1:1 comms between them

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jl777

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Re: Price speculation
« Reply #19882 on: February 20, 2015, 12:44:41 am »

Update on MGW

it seems one of the servers ran out of assets, so it shutdown as that is the proper thing to do
and that means withdraws are stopped until it is replenished, which is happening now

James
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MadCow

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Re: Price speculation
« Reply #19883 on: February 20, 2015, 01:04:38 am »

I am quite busy with coding and I took time out to help with the liquidity, but it seems that this is making for criticisms about old MGW. So I have removed all from the orderbook until there is a perfect solution without any flaws so nobody will complain

James
That's hardly necessary :(

Maybe it is if it helps the community appreciate exactly how much effort James puts into NXT, and has done for over a year now. We all have feelings!!

The NXT dev team is amazing! Gratitude motivates people far more than criticism. Not many people working for wages around here.

Thanks to all the NXT dev people!!!  Inspirational decentralised community effort!
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Tosch110

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Re: Price speculation
« Reply #19884 on: February 20, 2015, 01:55:32 am »

Soon there will be a plugin system for the Nxt client. (1.5) ;)

I am ready to go with the first Plugin for the client:

Crowdfunding made easy on Nxt

https://www.youtube.com/watch?v=JBsKVJYbitY

lucky88888

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Re: Price speculation
« Reply #19885 on: February 20, 2015, 02:25:01 am »

Mgw actually has the highest volume by a long shot right now. http://coinmarketcap.com/currencies/nxt/#markets

This would be a great time for the operators to ensure things keep running smooth. If we can keep this volume up then liquidity begets liquidity as they say... we can't lose this opportunity!

WOW this is awesoooome in so many levels!!

i knew people will adapt when there is no choices! this is just the begining! when others see this kind of volume on mgw for long periods of time they will consider the extra safety and extra savings they'd get from mgw!

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rtrtcrypto

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Re: Price speculation
« Reply #19886 on: February 20, 2015, 02:32:33 am »

YES! JINN can do anything!


signing my name to 1000!

EDIT: *DOHHHHHHH* Didn't make it!

I hacked the forum and moved your post to the 1000th page. Enjoy.
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lucky88888

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Re: Price speculation
« Reply #19887 on: February 20, 2015, 02:33:43 am »

OK, now the spread is 1 NXT

There really isnt much more I can do to increase liquidity than this...

James

Can you check this deposit https://blockchain.info/address/3G8qcMLGp8AuCaJUQYpbpn4mVXekR3TVW1 when you have time?

TY
I have instituted a pay delay/docking for the CPMT so there is hour for hour delay in their payments for each hour MGW is down. And if the downtime is over 24 hours, the delay is become a reduction.

Since all three servers need to be in sync, if any of them get any error in any coin daemon, eg. NXT java error loops seem common since MS release, then it needs to be kickstarted.

Anyway coordinating three independent server operators is a logistic issue and a solution is being worked on. Now with direct financial consequences for downtime, I am hopeful that the logistics issues will be solved.

I apologize for any delays, I was unfortunately recharging after working ~30 hrs straight, so could not help with this until now.

James
And that is going to work how?
I think 2 of your operators aren't on the payroll.

You are not going to like what I'm about to say, but MGW was and still isn't production worthy.

If I read what the "solutions" to these outages are "restart deamon, restarted server"... Come on, it's been a year now?
I agree that the old MGW is not good for scaling up, why do you think I rewrote it to DB MGW and then rewrote that to be realtime MGW.

Did you not understand that BTC is using the 8 month old MGW code? The realtime MGW is totally reengineered.

Now if a coin daemon is stuck (we have all seen NXT java error loop), my solution is to restart the coin daemon. Your solution is? Its been a year. I am sorry my productivity is below your expectations. I am sorry that I cannot make software that keeps working when coin daemons stop.

Now instead of just doing nothing, what I have done is created liquidity on NXT AE. If you didnt notice bter was hacked and with it majority of NXT trading. Since the ramchain for BTC is still not ready, I used the existing production MGW running the old version.

What is your advice? Should I just take down all my quotes on the NXT AE and let NXT volumes shrink away or force people to yet another central exchange?

James

how feasible is it to have paired up servers running simultaneously while in sync with other pairs, so when one fails it will restart while the other one takes over.

eg 6 servers instead of the 3 you have now. only it will work as failsafe.

eg. servers. AA1BB1CC1

So with server problems, it will still work.
 A A1 B B1 C C1

A1 is down. restart it before A goes down.
C is down. restart it before C1 goes down.

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chocolate

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Re: Price speculation
« Reply #19888 on: February 20, 2015, 03:02:43 am »

chocolate. he ate too much of it

much of what ?
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chocolate

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Re: Price speculation
« Reply #19889 on: February 20, 2015, 03:03:32 am »

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jl777

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Re: Price speculation
« Reply #19891 on: February 20, 2015, 03:44:06 am »

OK, now the spread is 1 NXT

There really isnt much more I can do to increase liquidity than this...

James

Can you check this deposit https://blockchain.info/address/3G8qcMLGp8AuCaJUQYpbpn4mVXekR3TVW1 when you have time?

TY
I have instituted a pay delay/docking for the CPMT so there is hour for hour delay in their payments for each hour MGW is down. And if the downtime is over 24 hours, the delay is become a reduction.

Since all three servers need to be in sync, if any of them get any error in any coin daemon, eg. NXT java error loops seem common since MS release, then it needs to be kickstarted.

Anyway coordinating three independent server operators is a logistic issue and a solution is being worked on. Now with direct financial consequences for downtime, I am hopeful that the logistics issues will be solved.

I apologize for any delays, I was unfortunately recharging after working ~30 hrs straight, so could not help with this until now.

James
And that is going to work how?
I think 2 of your operators aren't on the payroll.

You are not going to like what I'm about to say, but MGW was and still isn't production worthy.

If I read what the "solutions" to these outages are "restart deamon, restarted server"... Come on, it's been a year now?
I agree that the old MGW is not good for scaling up, why do you think I rewrote it to DB MGW and then rewrote that to be realtime MGW.

Did you not understand that BTC is using the 8 month old MGW code? The realtime MGW is totally reengineered.

Now if a coin daemon is stuck (we have all seen NXT java error loop), my solution is to restart the coin daemon. Your solution is? Its been a year. I am sorry my productivity is below your expectations. I am sorry that I cannot make software that keeps working when coin daemons stop.

Now instead of just doing nothing, what I have done is created liquidity on NXT AE. If you didnt notice bter was hacked and with it majority of NXT trading. Since the ramchain for BTC is still not ready, I used the existing production MGW running the old version.

What is your advice? Should I just take down all my quotes on the NXT AE and let NXT volumes shrink away or force people to yet another central exchange?

James

how feasible is it to have paired up servers running simultaneously while in sync with other pairs, so when one fails it will restart while the other one takes over.

eg 6 servers instead of the 3 you have now. only it will work as failsafe.

eg. servers. AA1BB1CC1

So with server problems, it will still work.
 A A1 B B1 C C1

A1 is down. restart it before A goes down.
C is down. restart it before C1 goes down.
The problem isnt that the server's are crashing due to hardware failure. 90% of the time it is due to one of the coin daemon's going on a fork or just going comatose. So if there are a pair of identical machines, maybe it is possible to automatically monitor the coin daemons and switch out the one that is stuck

the problem is 24 hour support for 3 independent locations. this is 9 work shifts per day...
Now assuming money wasnt an issue and we could hire 24 hour monitoring then... except money is an issue.

Also, this area is not really my expertise, so if you are able to devise a way to keep all coin daemon's running 24 hours a day, then please help!

James

P.S. The new realtime MGW is much easier as it already provides realtime monitoring and is very fast so it does not take long to find out if something is wrong. The old MGW, it is taking some time during restart and so when people are counting minutes there is a disconnect when it is 3am where the server host is.
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LeChatNoir

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Re: Price speculation
« Reply #19892 on: February 20, 2015, 06:55:16 am »

Ok ty i received my mgwBTC i posted some bids and offers, enjoy!

In the next days i will try to develop a market maker bot for mgwBTC, i made some calculations, with the liquidity i have i can do something like this:

Price       Vol in mgwBTC
 
22360      1
22293      1
22226      1
22160      1
22094      1
22027      1
21962      1
21896      1
21830      1
21765      1
      
0,6% best bid / best offer spread !
      
21635      1
21570      1
21506      1
21442      1
21377      1
21313      1
21250      1
21186      1
21123      1
21060      1

And update it costantly to mantain the 0,6% spread as orders get executed
« Last Edit: February 20, 2015, 07:38:59 am by LeChatNoir »
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LeChatNoir

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Re: Price speculation
« Reply #19893 on: February 20, 2015, 07:58:58 am »

I can also do it open source and distribute to the people who want to help NXT becoming more liquid, the more people use it the more NXT becomes liquid and valuable.
We have a huge advantage, NXT commission is very low so the spread can become very very small.
I know how to do such a bot because i've been doing this kind of stuff for the past 2 years, the problem is i'm not a good programmer, i can only code in VBNET and my code is usually very very ugly and redundant although i can always make it work.
If someone with good programming skills likes the project and is willing to help PM me.
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jl777

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Re: Price speculation
« Reply #19894 on: February 20, 2015, 08:24:16 am »

I can also do it open source and distribute to the people who want to help NXT becoming more liquid, the more people use it the more NXT becomes liquid and valuable.
We have a huge advantage, NXT commission is very low so the spread can become very very small.
I know how to do such a bot because i've been doing this kind of stuff for the past 2 years, the problem is i'm not a good programmer, i can only code in VBNET and my code is usually very very ugly and redundant although i can always make it work.
If someone with good programming skills likes the project and is willing to help PM me.
Thank you!
It would be fantastic to have an active and liquid BTC market. I will be making markets in many orderbooks, but the more orderbooks with other marketmakers the better. The NXT/BTC will of course be the most active orderbook and I expect we will have at least 4 with coinomat and liquid's bots

Once all four are active then we might see some really small spreads and this added liquidity (contrary to what some others have stated) will definitely increase the value of NXT.

For those who dont think there is value in liquidity, I have a one word proof that it does indeed have a lot of value: LTC

James
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rudeboi

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Re: Price speculation
« Reply #19895 on: February 20, 2015, 08:33:05 am »


I can also do it open source and distribute to the people who want to help NXT becoming more liquid, the more people use it the more NXT becomes liquid and valuable.
We have a huge advantage, NXT commission is very low so the spread can become very very small.
I know how to do such a bot because i've been doing this kind of stuff for the past 2 years, the problem is i'm not a good programmer, i can only code in VBNET and my code is usually very very ugly and redundant although i can always make it work.
If someone with good programming skills likes the project and is willing to help PM me.
Thank you!
It would be fantastic to have an active and liquid BTC market. I will be making markets in many orderbooks, but the more orderbooks with other marketmakers the better. The NXT/BTC will of course be the most active orderbook and I expect we will have at least 4 with coinomat and liquid's bots

Once all four are active then we might see some really small spreads and this added liquidity (contrary to what some others have stated) will definitely increase the value of NXT.

For those who dont think there is value in liquidity, I have a one word proof that it does indeed have a lot of value: LTC

James

James,

Can you get one of your UI devs to look at creating a plugin for NRS 1.5?more users = more liquidity :)

Hopefully not a big job as the UI already exists in the current supernet build.
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bitcoinpaul

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Re: Price speculation
« Reply #19896 on: February 20, 2015, 08:35:11 am »

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jl777

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Re: Price speculation
« Reply #19897 on: February 20, 2015, 08:43:02 am »


I can also do it open source and distribute to the people who want to help NXT becoming more liquid, the more people use it the more NXT becomes liquid and valuable.
We have a huge advantage, NXT commission is very low so the spread can become very very small.
I know how to do such a bot because i've been doing this kind of stuff for the past 2 years, the problem is i'm not a good programmer, i can only code in VBNET and my code is usually very very ugly and redundant although i can always make it work.
If someone with good programming skills likes the project and is willing to help PM me.
Thank you!
It would be fantastic to have an active and liquid BTC market. I will be making markets in many orderbooks, but the more orderbooks with other marketmakers the better. The NXT/BTC will of course be the most active orderbook and I expect we will have at least 4 with coinomat and liquid's bots

Once all four are active then we might see some really small spreads and this added liquidity (contrary to what some others have stated) will definitely increase the value of NXT.

For those who dont think there is value in liquidity, I have a one word proof that it does indeed have a lot of value: LTC

James

James,

Can you get one of your UI devs to look at creating a plugin for NRS 1.5?more users = more liquidity :)

Hopefully not a big job as the UI already exists in the current supernet build.
already in progress
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yassin54

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Re: Price speculation
« Reply #19898 on: February 20, 2015, 08:54:53 am »

I am quite busy with coding and I took time out to help with the liquidity, but it seems that this is making for criticisms about old MGW. So I have removed all from the orderbook until there is a perfect solution without any flaws so nobody will complain

James
That's hardly necessary :(

Maybe it is if it helps the community appreciate exactly how much effort James puts into NXT, and has done for over a year now. We all have feelings!!

The NXT dev team is amazing! Gratitude motivates people far more than criticism. Not many people working for wages around here.

Thanks to all the NXT dev people!!!  Inspirational decentralised community effort!
Thanks all Nxters and Dev  :-* :-*

rudeboi

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Re: Price speculation
« Reply #19899 on: February 20, 2015, 09:00:30 am »

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