Can we use BitcoinAverage "Global Price"?

#1

About 5 months ago, I made this post, asking about the BitcoinAverage price used by Bisq. The same problem still persists, the BitcoinAverage value is unusable to me.
So my question is: What would it take for Bisq to use the Bitcoin Average Global Price instead of the BitcoinAverage “Currency Markets”? And similarly for other currencies?

#2

Bisq regularly implements features asked by (many) users and useful to (many of) them.
Apart you, who is asking for this feature ?
What is this concrete utility ?
If you ask for something and are alone to ask for it, at least you may argue a bit more than just “unusable to me”.
(I secretly would also like Bisq to make me coffee. But chut).

#3

I will second Georgewalker on this, SEK is completely unusable due to BISQ putting the price 20% off the actual market price. Yes one could put a fixed pricebut increases risk where there are price jumps (see today or at least once a week for that matter) you end up losing a lot more then if it tracked the value (a great feature that BISQ does offer).

If BISQ want to attract people it should do what it is meant to do correctly. The Swedish market may be small but clearly non zero and this issue might be for other currencies too stopping people for using this platform which is against what we want, no?

#4

I have to admit that I don’t really understand this issue.
Can someone share a link with a currently used price and a link with a price that should be used?

EDIT: Found the links myself. As I understand Bisq uses this price, but we have users requesting this price.

I am not really sure about what each price represents, but I guess that optimally users should be able to choose which price provider they will use for their offers.

#5

@Homard Sorry if I worded that in a way that came across as self-centered. To my defense, I only asked what it would take to use the Global Price for SEK. As in, are there any obstacles in the way? It seems like a simple configuration change but I suspect there is more to the story. Is the Global Price API a paid one?

#6

Well put @Izzytdi.
The current BTC/SEK in Bisq is 42000, while the BitcoinAverage Global Price has the value of 52600, a 25% difference.

#7

My original post was flagged as spam… Maybe it was interpreted as an endorsement for BitcoinAverage? That was not my intention.
As @alexej996 said, maybe the best solution is to make it possible for market makers to select price provider?

#8

Yes, indeed it is something Bisq pays.
The problem which I see is that atm, we have only few demands for the kind of price you ask. And all other users are atm trading (and happy) with the provided price. If we change that, there will probably be also unhappy people.
And if Bisq provides simultaneously both prices, I’m afraid this could be messy.

#9

Thanks for the info @Homard. Good to know.
Do you have any suggestions to remedy the problem? The Swedish market could potentially be a big one, but due to this problem Bisq is - in practice - unusable in Sweden at the moment.

#10

imo, trading frequently fiat/crypto (eg daytrading) is a bad idea.
Sooner or later you’ll be annoyed by the fiat part.
So imo this is not (and should not be) a long term market for Bisq.
(To give you an idea.
atm the fiat/crypto market is ~10% of Bisq’s activity, but represents 90% of support.
While the crypto/crypto market is ~90% of Bisq’s activity, but represents 10% of support).

There is the case of users wanting, eg once a month, to convert some cryptos for fiat.
Which is indeed really important for Bisq users, even if rare.
But, for this usage, it seems me that the user can use an external price source if he wants.

disclaimer : that’s only personal opinion.