I would like to discuss a potential issue that mindphlux made me aware of today.
Let's assume
- an exchange does not honor the upgrade to bts 2.0
- a single delegate in bts1 is still active after the snapshot
- arbitrage between 1.0 and 2.0 honoring exchanges happen
- the price feeds incorporate both exchanges as source for the feed
then we may see a big problem when people selling their (arguable) worthless BTS1 tokens and arbitraging kills the other (BTS2) markets.
This may also lead to plenty of settlements and maybe even a black swan in BitShares 2.0 if we publish prices there directly.
Hence, I propose to NOT publish price feeds and delay this by 1 or 2 days until things settle down ..
What would be the consequences for open short positions? They can't settle for 2 days
What are the consequences for longs: none that I would be aware of
What are the consequences for arbitraging people: they lose money
What are the opportunities: get cheap BTS (in BTS2) from people arbitraging BTS1/BTS2
Discuss!