guys, pay attention, you still have no word from witnesses or BM, they can adjust force cover price to 1/1.5 again.
Sure they could if the majority of price feed publishing witnesses agreed, but why would they do that? Anyone who does that now should get voted out, since it's basically an attempt at sabotage at this point.
If I'm not misunderstand, most witness think it's temp to change parameter to 1100, they will change it back to 1500 when price stop drop. somebody have plan to change it to 1250.
In fact nobody give you the promiss they will not change it back to 1500 even more high. you need to know this risk before you short bitUSD.
Yes. While this is a witness parameter it could be changed at any time. I'm not convinced that 1100 is the best level for this long term. Ultimately I would like to have this responsibility removed from witnesses. Until it is removed I am not promising that I will not raise this rate. I will however give 24 hour notice before I raise it. I think an open discussion about the pros and cons of raising the mssr is needed. Preferably without the sky is falling hyperbole from either side. Until this is figured out please please please be safe and ensure that you have at least 3x collateral on all short positions. Alt is correct 1100 is not a final setting. We don't know where it will end up. I still think this is a great time to short, just make sure you have enough collateral.
there is a big mistake in this.
when you have a short position, you must make sure, when the price dropdown too much, you will cover your short position instead of just add collateral. or you will lose everything. think about the price drop from 0.3 CNY to 0.02 CNY. so enough collateral is not a way to avoid your lose.
when you short bitUSD, you must know you need to buy back these bitUSD someday.
today the parameter is 1100, you can sell your bitUSD at 1.1X price
when you have to buy back your bitUSD, if the parameter change to 1500, you have to buy back the bitUSD at 1.5x price