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Offline fumanchu808

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Are shorts not able to be purchased right now?
« on: September 04, 2014, 04:45:16 AM »

I executed two BitUSD purchases, of which there are two short sales within range. For some reason they aren't executing though. What am I missing here?

I want to buy BitUSD at the price being offered... is the system not allowing the people that are trying to short BitUSD do so right now?

Ggozzo

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Re: Are shorts not able to be purchased right now?
« Reply #1 on: September 04, 2014, 05:00:03 AM »
I think right now, shorting is only allowed within a narrow range of the median price. Scroll down to the first "ask", past all the shorts. Those short asks are away from the peg. It's kinda weird, not a true market, but truer to the peg. I think much deliberation is going on as to which is more key to survival, the free market or the bitUSD peg?

Offline fumanchu808

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Re: Are shorts not able to be purchased right now?
« Reply #2 on: September 04, 2014, 05:04:48 AM »
I mean whats the point of letting people short, if you're not going to let them short away from the peg and subsequently lose money. That's how the equilibrium works doesn't it?

I mean, make them collateralize it by all means but call in their order as soon as the collateral can't cover the difference. Problem solved. I thought that's how the system was advertised.

Am I missing something here?

Offline tonyk

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Re: Are shorts not able to be purchased right now?
« Reply #3 on: September 04, 2014, 05:06:07 AM »
Something similar to your idea is in the making...just not live yet.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Method-X

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Offline tonyk

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Re: Are shorts not able to be purchased right now?
« Reply #5 on: September 04, 2014, 05:13:02 AM »
Try using 0.4.11 RC2

 https://github.com/dacsunlimited/bitsharesx/releases/tag/0.4.11-RC2

You liked it? Did it/you solve the problem with the balance?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline fumanchu808

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Re: Are shorts not able to be purchased right now?
« Reply #6 on: September 04, 2014, 05:14:14 AM »
That version won't even start on my system.

Ggozzo

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Re: Are shorts not able to be purchased right now?
« Reply #7 on: September 04, 2014, 05:23:57 AM »
I mean whats the point of letting people short, if you're not going to let them short away from the peg and subsequently lose money. That's how the equilibrium works doesn't it?

I mean, make them collateralize it by all means but call in their order as soon as the collateral can't cover the difference. Problem solved. I thought that's how the system was advertised.

Am I missing something here?

Not missing anything. The problem was not very many people wanted to buy bitUSD and everyone wants to short it. No one wants to be in a "cash" position when BTSX is going up and everyone wants to earn more BTSX by shorting bitUSD. This caused people to lower the ask in order to get filled. While you would think "well someone is getting bitUSD cheap" it actually didn't work out that way. If the market was 10% away from the peg when you bought bitUSD, it was likely going to be 10% away when you sold your bitUSD after a BTSX price drop. So the real problem is, why even have a bitUSD other than to speculate on BTSX price action? Well, this was not the point of bitUSD. BitUSD was to be a stable constant value store of $1 worth of BTSX regardless of the price of BTSX. Something had to be done. Was this the right way? I can't say. But hopefully most of the BTSX bulls will pull their bids to within reason and be proactive in trading if that is what they are trying to do.

Offline fumanchu808

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Re: Are shorts not able to be purchased right now?
« Reply #8 on: September 04, 2014, 08:47:33 AM »
They should just let market dynamics handle the equilibrium point. If someone wants to short BitUSD when it's moving in the wrong direction and someone else is keen on buying that short position, they we should just let that action happen. Otherwise do away with the ability to short altogether and we can just buy/sell with one another.

The short seems like it wasn't working properly anyway. It should need to be collateralized by the user and it should amount to a contract for X amount of BitUSD to be paid back in the future or if the difference becomes larger than the collateral the user placed. Aside from that regular market dynamics should handle the rest.

Offline Method-X

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Re: Are shorts not able to be purchased right now?
« Reply #9 on: September 04, 2014, 09:40:39 AM »
Try using 0.4.11 RC2

 https://github.com/dacsunlimited/bitsharesx/releases/tag/0.4.11-RC2

You liked it? Did it/you solve the problem with the balance?

It's improved the experience considerably but my balance issue hasn't been resolved. :-\

Offline Markus

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Re: Are shorts not able to be purchased right now?
« Reply #10 on: September 04, 2014, 09:57:20 AM »
That version won't even start on my system.
Try the 32 bit version for Windows. The 64 bit seems to have an issue with starting.

Offline dxtr

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Re: Are shorts not able to be purchased right now?
« Reply #11 on: September 05, 2014, 07:23:02 AM »
I am having a problem that I've placed a couple of days ago a short order for 100USD with price 0.03333(...) USD/BTSX (30.021 BTSX/USD).
I made the order on windows client version 0.4.10, then I saw it in RC2 and now I can not see this short order in GUI (still in my order list in CLI) but right now the peg is below 30 BTSX/USD.

Why hasn't my order been filled and why is it not visible among Buy/Short orders in Windows GUI?

(Ids: BTSXAVzF4rZoib8BfEktqguvF6QxzrwbmRLRh and ce18719cc95f23897cb70fef36d9f7f610f5699e )

Code: [Select]
>> wallet_market_order_list2 USD BTSX 10 dxtr

TYPE        QUANTITY            PRICE                         BALANCE             COST                COLLATERAL          ID                                 
================================================================================================================================
(...)
short_order 3,002.10000 BTSX    0.033310016321908 USD / BTSX  3,002.10000 BTSX    100.0000 USD        N/A                 ce18719cc95f23897cb70fef36d9f7f610f5699e
Help me out:     wallet_approve_delegate mr.scroodge true

 

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