One way or another the PEG will be established...

[emski]

USE THE FEED TO LIMIT VALID SHORTS TO ONLY ABOVE THE FEED.

Reasonable.

And now the next issue:
Feeds. Can a few delegates manipulate it ?

[Shentist]

don't hurry. it is to early to make a decision.

it is normal that in the beginning every one expects that btsx is rising, but maybe in the future everything will balance out. the importent thing is - 1 bitUSD == 1 USD

[bytemaster]

From libertarianism to democracy to oligarchy to tyranny, even faster than I expected.

:(  that is an interesting point of view... and I see your parallels.

I am for the feed and against the network owned arb bot. Its a free market and this would be a bad step. The whole, is it ok to do bad things for the greater good kind of thing, their has to be another way. Why not just use the feed and let the market decide the value of bitUSD

+5% no arb bot needed.
USE THE FEED TO LIMIT VALID SHORTS TO ONLY ABOVE THE FEED.  No 95-105% range and no arb bot is needed.
Sometimes I don't know how you guys come up with this stuff and start wasting time on it before thinking it through.  Sorry for being annoyed.

Perhaps we are just thinking it through in public for the point of discussion. 

[Agent86]

From libertarianism to democracy to oligarchy to tyranny, even faster than I expected.

:(  that is an interesting point of view... and I see your parallels.

I am for the feed and against the network owned arb bot. Its a free market and this would be a bad step. The whole, is it ok to do bad things for the greater good kind of thing, their has to be another way. Why not just use the feed and let the market decide the value of bitUSD

+5% no arb bot needed.
USE THE FEED TO LIMIT VALID SHORTS TO ONLY ABOVE THE FEED.  No 95-105% range and no arb bot is needed.
Sometimes I don't know how you guys come up with this stuff and start wasting time on it before thinking it through.  Sorry for being annoyed.

[GaltReport]

Is their a real-world equivalent of this bot?  Not being that knowledgeable about exchanges and market, it might be more palatable if there is an existing exchange function in the real world performing the equivalent function that you could explain. To the lay it just sounds like price controls.

The real world equivalent of this bot is what provides the ultimate peg for BitUSD to USD.   I would gladly run such a bot myself, but these bots require capital and early on no one wants to take the risk.    Coding something into the network that we expect people outside the network to do merely provides liquidity and enforces the peg.  If you do it right the market maker in the network would eventually no longer be competitive with the market makers outside the network and thus its price targets would never get hit. 

In fact you could "pretend" such a market maker exists right now with a spread that is wider than the current BitUSD/USD peg.  It hasn't hit so you don't even see its involvement.    So all we are ultimately talking about is decreasing the spread of the current "imaginary" market maker.

What I meant was is their something or someone performing this function in other exchanges?  Like the stock exchange etc..?

[emski]

I mean you include a bid... it doesn't get matched.. price goes up.. bid is now out of range.

Still valid. Invalid is matching of such bid in a block BEFORE another price change makes it valid again.
This should be equivalent of saying: BitUSD can be traded in 0.95 1.05 range on this chain. Nothing else.
UPDATE: And by saying I mean enforcing.

[bytemaster]

Is their a real-world equivalent of this bot?  Not being that knowledgeable about exchanges and market, it might be more palatable if there is an existing exchange function in the real world performing the equivalent function that you could explain. To the lay it just sounds like price controls.

The real world equivalent of this bot is what provides the ultimate peg for BitUSD to USD.   I would gladly run such a bot myself, but these bots require capital and early on no one wants to take the risk.    Coding something into the network that we expect people outside the network to do merely provides liquidity and enforces the peg.  If you do it right the market maker in the network would eventually no longer be competitive with the market makers outside the network and thus its price targets would never get hit. 

In fact you could "pretend" such a market maker exists right now with a spread that is wider than the current BitUSD/USD peg.  It hasn't hit so you don't even see its involvement.    So all we are ultimately talking about is decreasing the spread of the current "imaginary" market maker.

[bytemaster]

Why not just hardcode max/min buy price for bitUSD 0.95 and 1.05 based on feeds ?
Any block including transaction not satisfying the above rule is invalid.

Price can change "after the fact" and that kind of filtering would just close the market.

Its a single block. It is either valid or not. If the transaction cannot be included => the user should retry.

I mean you include a bid... it doesn't get matched.. price goes up.. bid is now out of range.

[GaltReport]

Is their a real-world equivalent of this bot?  Not being that knowledgeable about exchanges and market, it might be more palatable if there is an existing exchange function in the real world performing the equivalent function that you could explain. To the lay it just sounds like price controls.

[Gentso1]

From libertarianism to democracy to oligarchy to tyranny, even faster than I expected.

:(  that is an interesting point of view... and I see your parallels.

I am for the feed and against the network owned arb bot. Its a free market and this would be a bad step. The whole, is it ok to do bad things for the greater good kind of thing, their has to be another way. Why not just use the feed and let the market decide the value of bitUSD

[GaltReport]

I'm just trying to wonder how all these price controls will help once your BitUSD escapes into the wild, exchanges, businesses etc...won't any discount/premium just be transferred their if it's controlled within BitShares?

[emski]

Why not just hardcode max/min buy price for bitUSD 0.95 and 1.05 based on feeds ?
Any block including transaction not satisfying the above rule is invalid.

Price can change "after the fact" and that kind of filtering would just close the market.

Its a single block. It is either valid or not. If the transaction cannot be included => the user should retry.

[Agent86]

Seriously, this is not the right way to do things...  What is the flaw or what is wrong with my proposal?!

[bytemaster]

Why not just hardcode max/min buy price for bitUSD 0.95 and 1.05 based on feeds ?
Any block including transaction not satisfying the above rule is invalid.

Price can change "after the fact" and that kind of filtering would just close the market.

[emski]

Why not just hardcode max/min buy price for bitUSD 0.95 and 1.05 based on feeds ?
Any block including transaction not satisfying the above rule is invalid.