I'm sure some people are tired of debating these things and I agree that things like multi-sig (also offline transaction signing, cold storage, non-TITAN functionality) are more important than market tweaks as long as the market works good enough for now.
Here is my take on changes:
-If we switch to 30 day required covering and this 30 day timeframe is deemed important/needed, I really hope we don't grandfather current shorts more than a couple months if at all; the health and liquidity of the whole system is more important than some individuals' desire to keep their leveraged position... everyone else shouldn't have to wait a year to see what the end result looks like.
The initial collateral ratio will be 3x rather than 2x (2x from short + 1x from long)
Why is this the right amount of collateral?
10x collateral only provides 5% more downward protection than 5x collateral.
I'm not sure I follow this.
remaining weaknesses are: ...
3) the market is asymmetric (you cannot short BTSX backed by USD)
4) you cannot short BitGLD backed by BitUSD (or any other combo)
I don't understand the need for these things.
We have a roadmap for addressing ...
2) Implementing a prediction market that trades on the ERROR in the price feed. This prediction market will then allow continuous, real time, price discovery on the blockchain by continuously discovering the % delta between the price feed and real price. It can be speculated on without losing any exposure to BTSX and with limits that can be used to halt trading on the USD/BTSX market if the feed error is too great. The USD/BTSX market can then use FEED_PRICE * PERCENT_ERROR. In this way delegates are only responsible for "getting close" with their feeds and a free market will continuously update the price at which shorts can execute.
I don't see the need; the central market already accomplishes this in and of itself. As it is right now, smart traders will make their trades based on the real exchange rate, not the feed as long as they expect the feed to track toward the right answer over the long run. If the feed is wrong you shouldn't overpay and buy expensive bitUSD. By the same token if the feed is wrong in the other direction you shouldn't sell bitUSD cheap because you know the feed will eventually correct and the market will eventually correct and 1 bitUSD will equal $1 in the long run so if the market is inefficient that is a profit opportunity.
Overall I'm not getting this and I still prefer priority by collateral, and using a bond market to manage interest rates.