[3] Suggestion: Display calculated settlement price ratio between two active smartcoins in the market?

[grctest]

On a smartcoin's market page with the primary backing asset (USD:BTS, Hertz:BTS, XCD:bitUSD, etc) we display the settlement price which is useful as an indicator of market rates.

On smartcoin:smartcoin markets (such as USD:CNY, USD:Hertz, etc) we don't display a calculated rate between them despite sharing a common backing asset.

Could we not take the settlement price of both smartcoins, then work out the exchange rate between the two?

Perhaps it could help users place orders without having to go to xe.com (or another currency rate site) and manually calculate the rate themselves?

[abitmore]

Good idea.

[wmbutler]

@grctest please provide some concrete examples. I like where you are going with this.

[grctest]

@wmbutler

Scenario: I want to trade between two smartcoins, bootstrapping a non-liquid market, I have no in-client reference exchange rate, however we know the settlement value of both HERTZ and bitUSD - we could simply divide one by the other to provide approx settlement exchange rates regardless of the lack of liquidity?

I think that adding such an exchange rate indicator would encourage liquidity in non-liquid (yet desirable) markets because it eliminates having to calculate it yourself (via google -> exchange rate site -> reference fiat price -> launch calculator app -> perform calculation).

[abitmore]

@grctest I think using "feed price" is better. The "settlement" price is for force-settlement.

[wmbutler]

I really think this could be interesting to have a "calculator" feature where the user could click it and it would provide the information needed to determine fair market value and even possibly display that as a graphical indicator on the market depth chart.

@ahdigital I'd love to see your thoughts on UX for this. Possibly it should be something that a use can toggle on or off.

[startailcoon]

I can take this

[wmbutler]

@startailcoon it's yours.

[grctest]

@wmbutler Should this 'calculator' only apply to smartcoins? Since we know the fair price which is the median feed price, where as UIA would be subjective and perhaps difficult/unfair to impose a 'fair' price.

[wmbutler]

@grctest I think it would be helpful to have a calculator for IOU markets as well (OPEN, BRIDGE, GDEX, RUDEX). It's really confusing for users who are just looking for a reasonable starting place to post a trade in illiquid markets or markets with large spreads.

[grctest]

@wmbutler For calculations which involve UIA, where would their reference value be drawn from? For MPA:MPA we have their median feed price, but for UIA there would only be market history or open orders - both of which probably wouldn't be accurate for non-liquid markets?

Do you envisage a modal popup calculator instead of just text alongside the feed price headers?

I'm really looking forwards to this feature 👍

[wmbutler]

I handle IOU's as follows: When I trade open.LTC for open.BTC I take:

(USD/LTC) / (USD/BTC)

Then just present the user with the current market value. It's possible the user would prefer to run this calculation with bitCNY instead of bitUSD, I so I suppose it should be editable.