Author Topic: What will happen if nobody shorts ?  (Read 4177 times)

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Offline inarizushi

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70000 bitUSD are now waiting to cover. If a whale came and shut the BTS price down, all the collateral of those 70000 bitUSD and of all the other bitAssets waiting in cover orders could be collected.

Nobody seems to care, but I have the feeling that we'll go down again soon if nobody addresses that problem. Isn't there anybody here that could tell me why I shouldn't worry of all those cover orders accumulating ?

cause we're moving to bitassets 2.0?

There was no clear announcements that bitAssets 1.0 would be converted into bitAssets 2.0. Actually the contrary was announced initially. (Did I miss something ?). The problem is only made worse.
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Offline topcandle

70000 bitUSD are now waiting to cover. If a whale came and shut the BTS price down, all the collateral of those 70000 bitUSD and of all the other bitAssets waiting in cover orders could be collected.

Nobody seems to care, but I have the feeling that we'll go down again soon if nobody addresses that problem. Isn't there anybody here that could tell me why I shouldn't worry of all those cover orders accumulating ?

cause we're moving to bitassets 2.0?
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Offline inarizushi

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70000 bitUSD are now waiting to cover. If a whale came and shut the BTS price down, all the collateral of those 70000 bitUSD and of all the other bitAssets waiting in cover orders could be collected.

Nobody seems to care, but I have the feeling that we'll go down again soon if nobody addresses that problem. Isn't there anybody here that could tell me why I shouldn't worry of all those cover orders accumulating ?
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Offline inarizushi

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I'm happy that the 10% rule is over, yet there has to be some incentive to short. 1% would have been nice.

Now we have close to 400 bitSILVER, 57000 bitUSD and 22 bitBTC waiting in cover orders. That doesn't seem good to me.
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Offline maqifrnswa

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BM addresses it here:
https://bitsharestalk.org/index.php/topic,16127.msg208102.html#msg208102

It is great that the 10% and 30 day rule was removed, it would have caused the force destruction of bitUSD when there is already an undersupply. That would be the bitshares equivalent of "crossing the streams"
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« Last Edit: May 11, 2015, 07:12:06 pm by maqifrnswa »
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Offline inarizushi

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Now that we don't have the 10% that enabled to short with profit to expired orders, we have big expired short orders waiting to be covered in most bitAssets. 50000 bitUSD, 14 bitBTC, 56 bitSILVER... the only peg that holds is bitCNY.

What will happen ? Won't that uncovered big volume produce a huge sell pressure at some point ?

Shouldn't we try to do something about that ? Like coordinating some shorting efforts on specific bitAssets ?
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