poll for bitUSD parameter optimization

[Chris4210]

I think we had some really good arguments from both sides in this discussions already. The last time many concerns have been brought up regarding the promise of "at least 100%" back.

I would like to wait a bit longer with a market change with BitUSD too. I expect a different market situation once BlockPay started. We will have a huge liquidity inflow with hundreds of merchants who want to sell their BitAssets again. This will create a full new dynamic for our markets when people want to sell 30k BitUSD on the DEX every day.

What are your thoughts about that?

[Chronos]

I support this change. Thank you @bitcrab for your methodical and consistent handling of these proposals.

[bitcrab]

IMHO we should postpone this for quite a bit ..
The CNY modifications are only active for a few weeks and I don't feel the need to modify bitUSD just now.
I'd like to see CNY become more prominent across the whole crypto space .. Only after that happend and people won't use bitUSD because of the 1% difference in settlement, then I think we can start discussing this again.

I don't think we need to wait for more time.
we are cautious enough, but effectiveness is also important,  some competitors such as MAKER will come in not long future,  we need to make bitshares smartcoins as prominent as possible.
this is not a dangerous change, even in the worst condition we can easily restore the parameters to old values.
bitCNY and bitUSD can become prominent together, no need to make this process delay, even more, we need to consider to do the change to EUR, JPY, GBP, CAD...etc. in recent future.
we should respect the opinion from the community reflected in this poll.
 

[llildur]

IMHO we should postpone this for quite a bit ..
The CNY modifications are only active for a few weeks and I don't feel the need to modify bitUSD just now.
I'd like to see CNY become more prominent across the whole crypto space .. Only after that happend and people won't use bitUSD because of the 1% difference in settlement, then I think we can start discussing this again.

 

[xeroc]

IMHO we should postpone this for quite a bit ..
The CNY modifications are only active for a few weeks and I don't feel the need to modify bitUSD just now.
I'd like to see CNY become more prominent across the whole crypto space .. Only after that happend and people won't use bitUSD because of the 1% difference in settlement, then I think we can start discussing this again.

[bitcrab]

issue for BSIP created: https://github.com/bitshares/bsips/issues/14, @xeroc could you please check and convert to BSIP?

[Akado]

I object. I'm currently holding ~4,500 BitUSD. I would be directly damaged from this proposal.

I have already stated that I perceive the modification of an explicit guarantee as robbery.

I will consider legal action against any committee members who vote for such a proposal. I will also consider legal action against any shareholders who vote for such committee members.

So now everyone start's doing that each time a parameter is changed. How can you even call BitShares decentralized after saying that.

Every paramater is subject to change, there are no guarantees. And to for that to happen committee who were previously elected with the most votes need to approve it.

I believe by using the technology you're already bound to this, the same way when you visit a website you automatically accept giving information on your cookies.

If bitcoin forks you're going to seek legal action against miners?

Plus, doing it on members who support those committee members? LOL. Even if there was any guarantee of something, which there isn't and every parameter is subject to change - which, by the way, is why they are called "parameters" -  what can be seen as a bad option to you might not be for others. Opinions are relative and you can't force yours on others. That's just stupid.

Even if it was something hardcoded, the community could always fork and change and you would have the option to have it your way on your chain. That doesn't mean the majority and liquidity will be on your side and you can't force ppl to do so.

Good luck.

[EstefanTT]

Apply it for all committee coins now. Change the poll title.

This ^


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[bitsharesbrazil]

yes for bitcrab.....

bitcrab think carefully about liquidity proposal those guys made at other topic....maybe give them an alternative....regards.

[yvv]

I object. I'm currently holding ~4,500 BitUSD. I would be directly damaged from this proposal.

I have already stated that I perceive the modification of an explicit guarantee as robbery.

I will consider legal action against any committee members who vote for such a proposal. I will also consider legal action against any shareholders who vote for such committee members.

Yeah, right, good luck with that. There are no signatures of no committee members and no shareholders under no promises. Everybody is well informed that fee schedule and other terms may be changed by votes of shareholders. Calling this a robbery is really being an ass. You have several ways to cash out your bitUSD with no loss at any moment.

[bitcrab]

I object. I'm currently holding ~4,500 BitUSD. I would be directly damaged from this proposal.

I have already stated that I perceive the modification of an explicit guarantee as robbery.

I will consider legal action against any committee members who vote for such a proposal. I will also consider legal action against any shareholders who vote for such committee members.

interesting.

to avoid the "damage", you can force settle before the change apply.

or if you like, transwiser can pay you 4500 OPEN.USDT to buy the 4500 bitUSD.

I don't think you are guaranteed more.

in BSIP#16 there is an answer to this question that can be referenced: https://github.com/bitshares/bsips/blob/master/bsip-0016.md

Does this proposal break a promise?

Yes, but maybe not! There were promises made that bitassets can be settled at any time at the fair price (price feed). With this proposal, we ask for a percentage fee for the settlement service. This can be interpreted as breaking a promise while it could also be interpreted as a change in fee schedule: "Settlements are free for the first few months, after that they are 1%".

most of the community now understand the necessity and importance of this change, someone even propose to apply the change to all the smartcoins, why resist such a beneficial improvement just because of your little "benefit"?

I cannot imagine that this change can be stopped by your threat.

[pc]

I object. I'm currently holding ~4,500 BitUSD. I would be directly damaged from this proposal.

I have already stated that I perceive the modification of an explicit guarantee as robbery.

I will consider legal action against any committee members who vote for such a proposal. I will also consider legal action against any shareholders who vote for such committee members.

[yvv]

Apply it for all committee coins now. Change the poll title.

[bitcrab]

I support this. However, I think I would prefer to see this simply become the standard across the board for all community run bitassets instead of spinning up the same process on every single one.

It appears to be clear that the economics and incentives are better aligned and it doesn't make a different from one bitasset to another.

This should be considered across the board.

at least I think in future we can apply the change to other smartcoins in groups, not one by one.

[Moon]

i support