Here's the correct link:
https://github.com/bitshares/bsips/blob/master/bsip-0016.mdThis proposal is full of lies and unfounded assumptions.
Forced settlement happens at par value, therefore no "compensation" for the shorter is necessary.
Shorters can mitigate their risk by selling only for a premium above the feed. Robbing *current holders* of CNY, who may be completely unaware of this proposal, is not necessary.
The proposal does not create a new "fee". Fees in BitShares are handled separately. Calling this robbery a "fee" is a plain lie.
Forced settlement is not a "service", it is a guarantee that defines the price floor for BitAssets. Changing this guarantee in mid-game without the consent of current CNY holders is robbery. Committee members voting for such a proposal may be legally liable for the financial damages this causes.
Changing the price floor will obviously affect the trading price of CNY, therefore the claim that only forced settlement is affected is another lie.
Changing an existing guarantee in mid-game will be disastrous for the credibility of *all* BitAssets, and thus harm our entire ecosystem.
Finally, the proposal was created by Bitcrab, who is known to be in a short position and would directly profit from the proposal. He also has a history of acting in his own interests wrt forced settlement. Edit: I take back that statement, after abit's analysis
Edit: looked up some quotes
The settlement will always happen AT the feed
http://docs.bitshares.eu/_downloads/bitshares-general.pdf section 4.1.1:
The core product of BitShares is a class of assets referred to as Market-Pegged Assets (MPA), BitAssets, or SmartCoins and represent a crypto-token that has at least the value of the underlying asset. For instance, a bitUSD can always be sold for $1, either to a merchant at face-value, or to the network (by means of settlement of a contract) in return for BitShares’ core currency (BTS) worth $1.
http://docs.bitshares.eu/bitshares/user/mpa.html Everyone that holds your (MPA) coin in BitShares can convert the coin into the backing asset at a fair price. This procedure is called “settlement” and ensures that your MPA is always worth at least the fair price.