Marketplace Features Requests
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The first stage is mostly complete.
Default fiat chosen on registration
Default fiat changed on user personal profile
Fiat value shown on hot itemsNext up is to show the fiat value on category view, and to current bid, buy now, shipping and additional shipping in the auction it self. The stage after that is adding the pin to fiat.
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Great, keep working!
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good work, Bushstar :D
just a remark: in the personal profile the field to change fiat is lab led ‘timezone’ ;-)
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[quote name=“Wellenreiter” post=“33865” timestamp=“1384260511”]
just a remark: in the personal profile the field to change fiat is lab led ‘timezone’ ;-)
[/quote]Good spot. That has now been updated.
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Hey Bushy,
Would it be possible to alter things a little so only the first par of a U postcode is displayed as a location, rather than the whole thing?
Thanks and regards,
Stefan -
Post code can differ around the world and the market does not handle post codes in different regions. The way to do this would be to amend your postcode in your profile to only include the first part. These details are not used in the payment part of the auction as the buyer has to specify delivery instructions at the point of purchase.
[b]Update[/b]
Sorry for being slow on the pinning to fiat, I’ve had a bug our youngest has brought home from school.I have all the fiat values of the auctions being held and updated in the database. The system will update values in the database rather than have the API queried for the fiat value every time pages are loaded. The data just needs to be displayed on the pages now to complete the first stage. With normal auctions, normal auctions with Buy Now and Buy Now all have the option to pin to fiat then bids should be in fiat too.
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Awwww yeah! Now only multiple international shipping options!
[high five from across the pond]
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[quote name=“Bushstar” post=“34484” timestamp=“1384620519”]
I’ve had a bug our youngest has brought home from work.
[/quote]What does your youngest do for a living?
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haha… I just pointed that out to Bush and he said change it…lol.
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[quote name=“mnstrcck” post=“34496” timestamp=“1384627120”]
Awwww yeah! Now only multiple international shipping options![high five from across the pond]
[/quote]Do not jump the gun, it is not fully implemented yet. Stage one is now complete though with fiat showing against everything. The fiat value of the auctions are updated every minute and on creation and amendment.
About the final Feathercoin value, this will need to be calculated when the user goes to pay but this should only be valid for a short period. Like Bitpay does to avoid too much drift between the fiat and the fiat value of the coins. I am thinking of making the amount valid for four hours and then requiring the user visit the pay page again.
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I know this maybe out of scope for the current release.
But It would be great if there was some kind of smoothing of the price variances of the conversions to fiat.
I think the worry is that if we pin to fiat for example £20 = 200 coins at point of posting the item and the market fluctuates for an hour during the day due to a market pump (or other thing)
so that the conversion is £20 = 50 coins. At this point the item sells and the market goes back to normal.
It would be nice if we took a moving average / smoothed average of the price over the past 12 / 24 / 48 hrs (or another amount?) perhaps to help protect the sellers from market fluctuations and stabilise the cost of items for the buyers. -
[quote name=“kris_davison” post=“34781” timestamp=“1384782478”]
I know this maybe out of scope for the current release.
But It would be great if there was some kind of smoothing of the price variances of the conversions to fiat.
I think the worry is that if we pin to fiat for example £20 = 200 coins at point of posting the item and the market fluctuates for an hour during the day due to a market pump (or other thing)
so that the conversion is £20 = 50 coins. At this point the item sells and the market goes back to normal.
It would be nice if we took a moving average / smoothed average of the price over the past 12 / 24 / 48 hrs (or another amount?) perhaps to help protect the sellers from market fluctuations and stabilise the cost of items for the buyers.
[/quote]I believe that this is essential. Otherwise people will wait to finalise the price when the market hits a brief low. The price is checked once a minute, perhaps we should take the average over the last 15 minutes to factor out brief variations?
I do not think it could be much longer than that without people taking advantage of this when the price simply goes up on the trading exchanges and the market is stuck in the past.
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I’m not sure 15 mins will be enough. I think 60mins or more would be better to flatten out any random spikes in trading as they usually last a few hours.
I suppose we could take the lowest price in the last rolling 60 mins. I know this seems odd but if the price rises sellers get less coins for their products where as its an increase in coins if the price falls.To be fair I guess its not that important about the actual algorithm we use although I think like you said some kind of average / rolling average would be great. Its always going to be a gamble although with a long term view these small peaks and troughs fade into irrelevance.
I’ll do some digging around some potential options if you like what language are you using for the market?
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If you could get some information on the best way to do this that would be great. I’m sure that this is well trodden territory.
I guess question is. What is the safest way to average price while protecting both the buyer and seller in a volatile market?
With the value of Feathercoin going up so rapidly all the items on the market are looking very expensive right now.
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[quote name=“Bushstar” post=“35690” timestamp=“1385127091”]
If you could get some information on the best way to do this that would be great. I’m sure that this is well trodden territory.I guess question is. What is the safest way to average price while protecting both the buyer and seller in a volatile market?
With the value of Feathercoin going up so rapidly all the items on the market are looking very expensive right now.
[/quote]You take the high of the past 24 hours, and add it to the low of the past 24 hours, and divide by 2.
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Ok I’ll look into it I think the solution needs to include a weighted average if its been £0.10 per FTC all day and in the last 5 mins its £1.00 the average maybe should be closer to £0.10 than £1.00 anyway I’ll report back
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[quote name=“kris_davison” post=“35839” timestamp=“1385166166”]
Ok I’ll look into it I think the solution needs to include a weighted average if its been £0.10 per FTC all day and in the last 5 mins its £1.00 the average maybe should be closer to £0.10 than £1.00 anyway I’ll report back
[/quote]That’s not a weighted average, it’s a moving window average.
If you wanted a weighted average, you’d multiply the price by it’s volume. Or to do an exponentially weighted average on a moving window where new trades contribute to the average price more than older trades, the easiest way to do that is add the first two price points together, and divide by 2. Then as each new price point comes in, add it to the old average, and divide by 2. This ensures that old trades ‘decay’ exponentially over time.
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I’ve put quite a few items on the market today at prices that seemed perfectly reasonable until the price doubled again. Lol
Anyway I have been having quite a few issues with the photo upload dialogue box
Sometimes it just will not upload the photo or it seems to upload but then when I submit the auction the photo is missing or quite a few times the entire browser locked and I had to restart.
This was in chrome although it may not be the most recent version as I was at work.
Ended up in ie 9 which worked without the crashes but the menu bar at the top is not displayed correctly just text instead of the nice menu. -
Some progress has been made on this. On the [b]development[/b] system items can be listed in one of six currencies including Feathercoin. All other currency values are updated from the currency that the auction is pinned to.
However the rest of the site needs to reflect this in the front end and bidding needs to be changed to always be in the currency that the auction is pinned to. After that final payment values need to be handled somewhat dynamically.
This feels more like an overhaul at the moment. Apologies for taking so long, it has been hectic and I’ve not been well as of late.
This weekend I am off to the Bitcoin Expo in London and next week I am going to be tied up in real world stuff. My parents are buying us a new kitchen for Christmas, my mum stayed for a week while Ruth and I were in Amsterdam and this is the result. Our squalor is not good enough for them it would seem. So I will be gutting the old kitchen and helping my very handy friend fit the new kitchen. This work may not be done until the week after next.
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I’ve changed my mind on this one (thanks to Kevlar). I’m going to price my market items in FTC and not worry about the fiat price. I know it will be “worth” more next week vs fiat and continue increasing until ultimately it will level off but the “value” of it will be much higher down the road. It’s a win/win situation. The buyer gets a great price now, while the seller receives an increasing store of value. By the time the leveling off happens, fiat may be dead when it comes to shopping online and a merchant set FTC price for products will be established as the “going rate”.
