Steem price feed - What is going on with bithumb? by holger80

View this thread on: hive.blog | peakd.com | ecency.com

witness-category · @holger80 · May 23 '20 (edited)

$7.41

Steem price feed - What is going on with bithumb?

As you may know, one duty of a witness is it to provide a price feed for steem. Based on the broadcasted pricefeeds, a median price from the last 3.5 days is calculated and influencing the author rewards and the vote value.

At the moment the steem/USD price from the bithumb is way off in comparison to other exchanges. At other exchanges, the price is currently by 1.69 USD, but on bithumb it is 2.34 USD. This causes the price jumps on [coincapmarket](https://coinmarketcap.com/de/currencies/steem/#charts):

![image.png](https://ipfs.busy.org/ipfs/QmcwuwPhixF18oTEHW1GQ2nSxURekwaLhVia5hLDs8rm3k)

You can see the Steem/USD price for [different exchanges](https://www.worldcoinindex.com/coin/steem):
![image.png](https://ipfs.busy.org/ipfs/QmU2iKcUoDsXe7QAJ1Bg6jms1A484XijVBSqS7KLACxtni)

Due to the high 24h volume, the price from bithumb influences strongly the average price.
Poloniex and HitBTC show a price which is lower than the price listing on other exchanges. Due to the low 24h volume, they do no influence the average price.

[coinmarketcap.com](https://coinmarketcap.com/currencies/steem/#markets) removed the listing of bithumb shortly:
![image.png](https://ipfs.busy.org/ipfs/QmPVt5mS1KWufF33UjdjVsnyiRBkyw17dvGZbhLsb7HTGe)

The top 20 witnesses are doing a great job and broadcasting the correct steem price. Some witnesses are broadcasting a too low steem price as they including the exchange price from hitbtc (maybe without using the 24h volume for doing a weighting average).
___
@busy.witness should check the price feed script:
![](https://cdn.steemitimages.com/DQmXQFmDy5SWsREyEwRaBxT3AG22qfESGaP4NwWKdo4S7ib/image.png)

as well as @aizensou 
![](https://cdn.steemitimages.com/DQmbhTrMfbJEvnM5jYiLTysGaHVXEmiv5wxDeJ6zvVm7ZpP/image.png)

___
P.S.: Don't get fooled by the price bias as I'am.

Output from: https://steemd.com/witnesses:
![](https://cdn.steemitimages.com/DQmZV9AupZ46MRrbkUExsraPsUL1xDGz39L24JZdKJn5XcW/image.png)
Result from http://steeme.com/witness:
![](https://cdn.steemitimages.com/DQmW7nsKEMEQuiMY4de5tNeYZLk4sLRFbKuMMTtCnEtG8rS/image.png)

Sorry @pharesim for tagging!
___
If you like what I'm doing, please consider @holger80 as one of your witnesses ([steemconnect](https://v2.steemconnect.com/sign/account-witness-vote?witness=holger80&approve=1)).

👍 tufkat, seer, timcliff, agar, busy.pay, limesoda, steembasicincome, crokkon, qurator-tier-1-2, qustodian, make-a-whale, pibara, maxpatternman, lextenebris, raj808, sakhone, flugschwein, quotesbyharper, michaelizer, irelandscape, techchat, bigbot, ccoin, mys, ratticus, linnyplant, feedyourminnows, dr-frankenstein, yannh, louiscpt, mineopoly, misan, boontjie, ulisessabeque, fullnodeupdate, wargamer, djane860, operandabove, whimperrubbery, anycases, hearttoasting, rubydetails, katerinakarim, shoemakerintegra, brecciajournal, olshama88, miki20336, hommike, lersus77, holger.random, zcool, hackerzizon, beembot

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`permlink`	steem-price-feed-what-is-going-on-with-bithumb
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`author_curate_reward`	""

properties (23)vote details (53)

voter	rshares	pct
timcliff	770,462,183,675	77%
busy.pay	252,611,823,430	1.16%
seer	774,233,566,148	100%
quotesbyharper	17,457,976,369	100%
louiscpt	2,418,739,896	100%
mys	5,253,308,281	5%
pibara	34,824,231,395	100%
ccoin	6,636,683,905	100%
ratticus	5,104,000,543	10%
sakhone	20,721,704,711	100%
make-a-whale	46,644,590,158	12%
boontjie	1,403,278,728	100%
crokkon	58,209,807,072	100%
raj808	27,305,703,525	100%
tufkat	805,023,853,177	100%
feedyourminnows	4,726,450,962	5%
qustodian	48,066,353,543	7.85%
lextenebris	30,239,550,068	100%
steembasicincome	81,583,375,063	5%
mineopoly	2,203,640,254	10%
agar	268,925,294,140	32%
yannh	3,317,811,847	100%
michaelizer	12,253,962,769	100%
maxpatternman	30,553,621,867	100%
dr-frankenstein	3,630,606,449	100%
techchat	10,580,603,907	100%
flugschwein	19,930,100,006	100%
limesoda	134,269,742,268	100%
ulisessabeque	1,206,959,328	30%
zcool	235,324,809	10%
hackerzizon	204,696,145	1%
misan	1,485,899,628	100%
bigbot	9,941,634,696	100%
irelandscape	11,128,626,009	100%
linnyplant	4,785,342,034	100%
lersus77	563,635,855	100%
hommike	563,635,855	100%
miki20336	563,635,855	100%
olshama88	563,635,855	100%
brecciajournal	563,635,855	100%
shoemakerintegra	563,635,855	100%
katerinakarim	563,635,855	100%
qurator-tier-1-2	49,032,829,176	4%
rubydetails	563,635,855	100%
hearttoasting	563,635,855	100%
anycases	563,635,855	100%
whimperrubbery	563,635,855	100%
operandabove	563,635,855	100%
djane860	563,635,855	100%
holger.random	449,152,601	100%
fullnodeupdate	930,028,404	100%
wargamer	609,691,656	100%
beembot	195,934,473	100%

@mineopoly · Jul 5 '18

$0.09

I've read heart monitor readings before. It looks like Steem is not dead. Don't worry.

![image.png](https://ipfs.busy.org/ipfs/QmUWk3m56fiK3TNGqqSpP67LFCkn9TgvW1octfoZsbvyGR)

Just like the sinoatrial node keeps rhythm for the heart there must be some force keeping the price of Steem in rhythm.

👍 holger80, flugschwein, dreamscape

`author`	mineopoly
`permlink`	re-holger80-steem-price-feed-what-is-going-on-with-bithumb-20180705t063036917z
`category`	witness-category
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`root_title`	"Steem price feed - What is going on with bithumb?"
`beneficiaries`	`[]`
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`percent_hbd`	10,000
`post_id`	63,483,445
`net_rshares`	45,100,147,791
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
dreamscape	2,472,072,917	100%
holger80	36,155,928,996	10%
flugschwein	6,472,145,878	33%

@holger80 · Jul 5 '18

$0.05

It looks to me like Arrhythmia:
![](https://cdn.steemitimages.com/DQmNpPZzGJe39Z5qMmrXwy5JYSnAsnkmBCVDrrQMF3YFSQk/image.png)

👍 dustsweeper, mineopoly

`author`	holger80
`permlink`	re-mineopoly-re-holger80-steem-price-feed-what-is-going-on-with-bithumb-20180705t063807367z
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properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
mineopoly	0 B		10,650,927,897	50%
dustsweeper	0 B		13,127,688,888	1.87%

@mineopoly · Jul 5 '18

Exactly

properties (22)

`author`	mineopoly
`permlink`	re-holger80-re-mineopoly-re-holger80-steem-price-feed-what-is-going-on-with-bithumb-20180705t064029172z
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@steemitboard · Jul 9 '18

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[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/votes.png)](http://steemitboard.com/@holger80) Award for the number of upvotes

<sub>_Click on the badge to view your Board of Honor._</sub>
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properties (22)

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`json_metadata`	{"image":["https://steemitboard.com/img/notify.png"]}
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`root_title`	"Steem price feed - What is going on with bithumb?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
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`post_id`	64,000,128
`net_rshares`	0

@therealwolf · Jul 5 '18

$0.07

Busy hasn't updated their price feed in ages. As seen on price-feed age.

But regarding bithumb - your opinion with this post is to **exclude bithumb**, right?

👍 holger80

`author`	therealwolf
`permlink`	re-holger80-steem-price-feed-what-is-going-on-with-bithumb-20180705t105000157z
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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
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@holger80 · Jul 5 '18

Such a difference between exchanges should not happen as the difference will normally be balanced by traders. When it does not happen, it's a sign that withdraws or deposits are currently not possible.

So it's the best to exclude bithumb right now.

properties (22)