A huge amount of shorts were expired. What will happen?

[graffenwalder]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed.

So can anyone with BTS short bitUSD right now at 10% above the feed and make an instant 10% gain? Then this "backlog" should disappear very quickly.

No, I tried and it doesn't work.. There are shorts from the feed price up to +10% right now and no orders are executing.

It will be covered by Monday is my prediction. 

How? They're not buying anything atm..

Just tested it, but the expired shorts are buying bitusd when you sell a bit over the price feed. (not selling into BTS sell orders of course)

[svk]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed.

So can anyone with BTS short bitUSD right now at 10% above the feed and make an instant 10% gain? Then this "backlog" should disappear very quickly.

No, I tried and it doesn't work.. There are shorts from the feed price up to +10% right now and no orders are executing.

It will be covered by Monday is my prediction. 

How? They're not buying anything atm..

[Markus]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed. 

So expired short positions buy [the BitAsset] at feed price and normal short orders want to sell at the feed price. And the reason they are not matched is because of what? Because the expired don't pay transaction fees?
This just doesn't feel right, looks more like a mixup between ≥ and >.

[bytemaster]

It will be covered by Monday is my prediction. 

[Rune]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed.

So can anyone with BTS short bitUSD right now at 10% above the feed and make an instant 10% gain? Then this "backlog" should disappear very quickly.

[pc]

above in terms of the GUI, below in terms of the CLI.

[xeroc]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed.

above in terms of usd/bts or bts/usd?

[btswildpig]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed.

so , is the issue in the OP a bug or normal ?

[bytemaster]

Expired shorts do not pay fees.  They will sell to anyone with usd looking to sell at just above the feed. 

[Rune]

It looks like this is a BUG!

Expired shorts are not matched against unlimited short orders. Selling BitUSD slightly below peg will get matched though.

There's a known bug that unlimited shorts aren't considered when a short with a higher interest rate and a limit less than 0.9 of the feed price exists. https://github.com/BitShares/bitshares/issues/1315

"Short orders are forced to cover after 30 days by taking the best offers at the time. No fee is charged.

Forced covers happen at the feed price or 10% below it.

So the person or persons with the short in question, can they just let it ride forever? Are they still being charged interest?

How does this end ?

They should eventually lose 10% of their BTS as people sell bitUSD to them for an instant 10% gain. However it looks like the 10% rule isn't working right now?

[Gentso1]

It looks like this is a BUG!

Expired shorts are not matched against unlimited short orders. Selling BitUSD slightly below peg will get matched though.

There's a known bug that unlimited shorts aren't considered when a short with a higher interest rate and a limit less than 0.9 of the feed price exists. https://github.com/BitShares/bitshares/issues/1315

"Short orders are forced to cover after 30 days by taking the best offers at the time. No fee is charged.

Forced covers happen at the feed price or 10% below it.

So the person or persons with the short in question, can they just let it ride forever? Are they still being charged interest?

How does this end ?

[NewMine]

Hm .. ok .. my impression was that a expired short is different from a margin call in such that the expired short is auto-covered at exactly the feed and not above (below, depends on perspective)

That's the plan for the future, I think. Right now, both are treated the same.

Well that definitely did not happen, otherwise my sell order would've been taken out 8% above the feed since all the sell orders and short orders below 10% over equaled nowhere near the amounts that expired.

[pc]

Hm .. ok .. my impression was that a expired short is different from a margin call in such that the expired short is auto-covered at exactly the feed and not above (below, depends on perspective)

That's the plan for the future, I think. Right now, both are treated the same.

[xeroc]

Hm .. ok .. my impression was that a expired short is different from a margin call in such that the expired short is auto-covered at exactly the feed and not above (below, depends on perspective)

[svk]

an expiring short results in a FORCED cover? I thought exporation is different from margin calls?!?

These are expired successful shorts aka  cover orders. Around 400k bitUSD worth expired yesterday and should've been forced to cover at the feed price or up to +10%, but a bug is preventing that from happening it seems.