Verify what happens for exchanges with 0 tx fees
I suggest forcing a price-offset of 0.1 %
Comments (5)
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A price offset of 0.1%, in practice, seems to be a good thing.
I can make a modification this morning to the internal exchange to remove the trading fees for the NBT/USD and NBT/BTC markets (temporarily, until I can find a permanent solution that would let me set up "fee free" markets with the same pairs as "fee paid" markets).
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@pennybreaker and I were discussing a few related this this morning and we talked about the defaulted price-offset of 0.1%. In theory this works for NBT-to-crypto markets, but is far too large for NBT-to-fiat markets. Is it reasonable to have two different values, depending on the "type" of market being serviced? The "type" attribute doesn't currently exist (generically), but could be derived from the market pair being supported. The "types" could be "crypto" or "fiat" (with future types if we peg against anything else like "index," "equity," or "commodity").
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reporter Ok, when we get to this we will implement the suggested strategy.
the defaulted price-offset of 0.1%.
Actually, the current price-offset is defaulted to 0 until we get a design decision.
Is it reasonable to have two different values,
yes.
we actually have three categories of markets : 1)NBT/USD 2)NBT/CRYPTO 3)NBT/FIAT (non USD)
Each of which has its own tweaks. The bot can detect them and make tweaks. In fact it already does with the price tracking , options, and other things.
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reporter - changed status to resolved
forced 0.1% offset
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I agree with this approach. For crypto/crypto pairs, this may need to be increased if we test and find that there is wall collision.