
Here is the source code, all commented for easy understanding:
crontab -e
*/10 * * * * /usr/bin/php /var/www/html/lisk/index.php
Awesome! Added it to the OP.
This is a great API programming effort and looks awesome. However, there are some problems in the logic and the algorithm used has some serious flaws. Plus, I would argue it is not even a good idea to display it in its current form.
Overall, the Lisk price in the graphic is being underestimated by a little over 15% and that error will grow slightly over the next two weeks as more and more "effective" BTC are "handed out" as early participation bonuses. Currently this amount stands at a little over 252 BTC and climbing. These must be included in the Lisk price even though they were never actually collected.
These "imaginary" 252 BTC are effectively a legitimate marketing expense that has made this ICO more successful than it otherwise would have been.Nuno acknowledges he is not counting these early participation bonuses, since there is no place he can go with an API and get real data on how much has been handed out. Also, his code also shows that he is using the current market price of Crypti instead of the constant 13 BTC per 1M XCR actually being used.
How big are these discrepancies? As I write this, he says 1 Lisk = 2625 satoshi = 0.01069 USD; my spreadsheet is showing 1 Lisk = 3024 satoshi = 0.01235 USD. Compare for yourself:
https://docs.google.com/spreadsheets/d/1Q2MJ25_bK5Yi60FYohYCUEkujUtL5c0P1dOdlDMPMBI/edit#gid=1360974801I would argue my spreadsheet numbers are a "better" number to use. However, my spreadsheets aren't perfect either. I only update them manually a couple of times per day instead of instantly via an API. Plus, the 1350 total BTC I am showing as being gathered at the 15% bounus is a close but approximate figure that I will update when Max releases the official figure.
If Lisk is going to have ("inflationary") early participation bonuses and constant Crypti exchange factors as official Lisk policy, these MUST be included in the Lisk price. I think the correct way to look at the difference here is that nuno is showing us where the Lisk price would be if it were based only on tangibles, pure market forces and actual BTC collected. My spreadsheet number is the number with all the free marketing goodies included that were added in to increase participation in the ICO - goodies that have worked as intended and beyond!
Ultimately Lisk price is about belief. I have argued in an earlier post that the early participation bonus and Crypti bonus are fair ways of valuing community enthusiasm and the existing codebase, and that the spreadsheet number is a fair starting exchange price for Lisk after the ICO at an exchange. If we revert to "no, the value of Lisk is only in the actually collected BTC and nothing more", then expect to take a significant price hit when we go to the exchanges.
If you don't continually hammer home that the Lisk bonuses are a fair part of the Lisk price that have made this a more successful ICO, then those bonuses will not be reflected (ie, "paid for") in the eventual Lisk market price.Bottom line: Nuno's graphic - as it is now - is gonna cost Lisk money. We would be better off without it.