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Messages - clockwork

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181
General Discussion / Re: how about reduce MSSR to 105% for bitCNY?
« on: December 18, 2018, 07:13:50 am »
as the title tell.

With real price feed?

this is an independent suggestion, irrelevant to how price is fed.

Not irrelevant.. If price feed is 10% above DEX, an MSSR of just 5% is dangerous as we've seen before. MSSR should NEVER be lower than the Feed/DEX difference. Margins need to be at or at least very near market price

On a side note, I believe the current state of the CNY market no longer needs the increased force settlement offset and I think that bringing it on par with other bitAssets will somewhat lower the premiums we're seeing so would like to see that first.


182
General Discussion / Re: another way to development the economic
« on: December 17, 2018, 01:39:32 pm »
I hadn't commented on this so far because I wasn't entirely sure what the proposed mechanism is but I was thinking of something that could be related (or even the same and I've just misunderstood) so here it goes. Let me know if I got this right.

Essentially create a USD pegged asset that is ONLY issued as worker or witness pay and is instantly settleable against the reserve pool.

So the chain no longer pays BTS to workers and witnesses but workerUSD (or even workerEUR and workerCNY) which are not smartcoins (i.e. they can't be borrowed or shorted) but are ONLY issued by the chain as payment. These assets can be settled for BTS from the reserve pool at any time at the current feed price.

183
Stakeholder Proposals / Re: [Fee Schedule Proposal] - New fee schedule
« on: December 17, 2018, 01:15:03 pm »
IMO transfer and asset_issue are much too expensive, especially in relation to the market operations. The former are extremely cheap on the network, the latter extremely heavy.

FWIW, I initially had the market operations more expensive but set them lower after community response.

Asset_issue is in direct correlation to the Transfer op.

You believe 3 cents (0.6 of a cent for LTM) for a transfer is too much?

Also, pricing is based primarily on competition/expectations and optype usage. I did not consider chain impact/computation cost (except for the per_kb fees).


184
Stakeholder Proposals / Re: [Fee Schedule Proposal] - New fee schedule
« on: December 17, 2018, 12:37:32 pm »
Ok...will update the relevant issue on github

185
I think everybody have learned from the mistake that margin call price shouldn't higer than market price.
please vote out those witness still manipulate the feed price.
@xeroc @openledger @michaelx

I really don't understand why do you still vote for those witness give wrong feed price after bsip42 have quick for so many days.
you are really act quickly last time when several witness try to change MSSR to 5%, while that is a very good direction.

when BTS's price for CNY is 0.28, the witness's feed price is 0.32, so margin call order can be selled at 0.29, 3% higher than normal,
this will push bitCNY to blackswan again,
please unvote these witness who give the unreasonable feed price:

winess.hiblockchain
delegate.freedom
elmato
xeldal
roelandp
fox
witness.yao
witness.still
gdex-witness
crazybit
xn-delegate
abc123
xman



when is that screenshot from? some of these witnesses are no longer actvie and the prices are not what I currently see...maybe they have adjusted?

(I resumed CNY feeding as well btw)

186
Stakeholder Proposals / Re: [Fee Schedule Proposal] - New fee schedule
« on: December 17, 2018, 11:51:31 am »
It's done automatically by the scripts @xeroc has provided. I believe it uses feed price.

187
Stakeholder Proposals / [Fee Schedule Proposal] - New fee schedule
« on: December 17, 2018, 11:46:57 am »
As I've mentioned before, I've been working on analysing and optimising the existing fee schedule.

Some preliminary discussion and fine-tuning took place on GitHub and now I'm bringing this to the wider community for further discussion.

All details and fee changes are available here: https://github.com/bitshares/committee-tools/pull/2

188
Just some example based on global traffic on websites according to alexa.


global rank

~4.700 Bittrex volume  $27 Million
~6.000 Poloniex volume  $29 Million
~7.300 Yobit volume  $15 Million
~13.000 kraken volume  $120 Million
~13.000 upbit volume  $151 Million
~28.000 gate.io volume  $36 Million
~34.000 livecoin volume  $10 Million
~46.000 btc alpha volume    $3 Million


Now have a look at the global traffic rank according to alexa of the proposed exchanges

~170.000 Sistemkoin $59 Million
~No Data IDAX  $282 Million
~46.000 LAToken  $63 Million
~399.000 RightBTC  $126 Million
~46.000 Cointiger $115 Million

Based on that Data you can clearly see that non of the bottom exchanges could even compete with Livecoin.I would even claim all would even lose the comparing against BTC-Alpha massivly which has Rank 87 and a trading volume of $3 Million.

nice job..

189
1. For bitCNY, only adjust the MSSR to 105%, and the other to the market. By adjusting the MSSR from 1.10 to 1.05, the number of BTS sold by Margin Call will be reduced by 5%, and the selling price will increase by 5%, and the arbitrageur will still have a 5% profit. I think that the ±5% premium discount is not a big problem for the current stable currency application scenario: the current stable currency is mainly used as a hedging tool for digital currency investors to avoid falling risks, even as a deposit and Withdrawal channel, premium discount bitCNY still has the same purchasing power. Only when applied to the merchant accepting the payment scenario of bitCNY, it is necessary to accurately anchor the RMB value.

2. In the past five years, the community has placed its focus on SmartCoins, and hopes that bitCNY will achieve a breakthrough, and other ecological developments will be almost zero, making the price of BTS deeply bound to the fate of bitCNY. At the same time, most of the bitCNY mortgaged directly bought the BTS, pushing up the overall leverage of the BTS: bitCNY market, helping to boost the BTS price, the bull market is like a rocket booster, and the bear market is like a meat grinder.

In contrast, the stable currency DAI built on Ethereum, because the price of ETH is determined by the ecology of Ethereum, the development of DAI has almost no effect on the price of ETH, so it is more smooth than the development of bitCNY.

The BitShares community needs to re-examine the development strategy. We should pay attention to the development of other application scenarios, let the ecology bloom, and let more products and application scenarios support the price of BTS. At that time, the development of SmartCoins could be achieved. In addition to current features (such as account system, account permissions hierarchical control, Multi-Hierarchical Flexible Multi-Signature, Memo, whitelist and blacklist, User Issued Assets, Decentralized Exchange, Proposed Transactions, 3 seconds to pack a block, 1.5s average transaction confirmation time, etc., there can be many applications in any combination. The scene can be developed), bsip43, bsip44 are all worth promoting.



1、对于bitCNY,仅调整MSSR为105%,其它的交给市场。MSSR从1.10调整到1.05,Margin call 卖出的BTS数量会减少5%,而且卖价也会上升5%,套利者依然有5%的利润。我认为±5%的溢价折价对于目前稳定币的应用场景来讲没什么大问题:目前稳定币主要是作为数字货币投资者规避下跌风险的避险工具,即使是作为Deposit和Withdrawal通道,溢价折价的bitCNY依旧有同样的购买力。只有应用于商家接受bitCNY的支付场景的时候需要精准锚定人民币价值。

2、过去5年,社区把重心完全放在了SmartCoins上,寄希望于bitCNY实现异军突围,其它生态发展几乎为零,使得BTS的价格与bitCNY的命运深度绑定。同时抵押借出的bitCNY绝大大部分直接买入了BTS,推高了BTS:bitCNY市场的整体杠杆,助涨助跌BTS价格,牛市犹如火箭助推器,熊市犹如绞肉机。

反观构建于Ethereum的稳定币DAI,因为ETH价格是由Ethereum的生态决定的,DAI的发展对ETH价格几乎没有影响,所以相比bitCNY的发展更顺风顺水。比特股社区需要重新审视发展战略,我们应该重视其它应用场景的开发,让生态全面开花,让更多的产品和应用场景支撑BTS的价格。那时,SmartCoins的发展才能水到渠成。

除了目前的功能(比如账户体系、账户permissions分级控制、Multi-Hierarchical Flexible Multi-Signature、Memo、白名单和黑名单、User Issued Assets、Decentralized Exchange、Proposed Transactions、3秒打包一个块、1.5s平均交易确认时间、……等等,任意组合就可以有很多种应用场景可以开发),bsip43、bsip44都是值得推进的提案。

VERY well said. I've been advocating promoting the BitShares platform as a blockchain FIRST and FOREMOST  considering some of its killer features compared to other technologies instead of simply as a DEX and stablecoin tool for ages now.

Thanks for sharing that viewpoint.

190
General Discussion / Re: suggestion on bitCNY rules update after BSIP42
« on: December 06, 2018, 03:25:06 pm »
It seems we kind of agree on the general direction so my suggestion would be to implement things in an incremental way.

To start:
Settlement offset as low as possible (would like it to even be 1% on par with all other bitassets)
Some kind of GS protection

and personally I think our first attempt to improve things should be to allow for variable MSSR according to circumstances.
in most of the cases margin call orders are filled at the market price in CNY market, so it make almost no difference either to set MSSR to 10% or 5%, maybe only when in very serious bear market 5% or 10% make some difference.

not just about getting filled...it will clear ( or clear less depending on which way you adjust) the order book and change the dex price thus countering premium or discount...it's about modifying supply/demand

191
General Discussion / Re: When to expect the bitUSD revival?
« on: December 06, 2018, 02:48:32 pm »
Hello,

So... bitUSD/BTS is nearly 20% over feed price because nobody is willing to trade. At first, that was OK, waiting patiently for it to fall to a reasonable price to buy BTS or BTC again, but now I'm starting to realize that I'm probably screwed with bitUSD, for which I might not be able to get out without loosing quite a %...
I read everywhere that bitUSD needs to be revived and wait for the margin trading to open again. So I have the following questions:

-How/when will bitUSD be revived? What does it take? Just the trust of people who lost a lot because of the GS?
-If we are below the GS price, will it be revived only when the price goes back up above that same GS price or can the new GS price be lowered?
-Will it be revived only when the margin trading opens up again? What are the conditions for that?
-Will I get back my worth of bitUSD only when the price will go back above GS price? Am I understanding this right? Because if so and the price keeps falling, bitUSD holders are screwed, no?
-Also, what does it mean when a bitasset stops being pegged?

Thanks for your time!

Cheers,

https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

192
General Discussion / Re: suggestion on bitCNY rules update after BSIP42
« on: December 06, 2018, 01:27:35 pm »
It seems we kind of agree on the general direction so my suggestion would be to implement things in an incremental way.

To start:
Settlement offset as low as possible (would like it to even be 1% on par with all other bitassets)
Some kind of GS protection

and personally I think our first attempt to improve things should be to allow for variable MSSR according to circumstances.

193
and these witness still didn't provide feed price:
verbaltech2
rnglab
delegate-1.lafona
clockwork
openledger-dc

I have resumed USD feeding and will be resuming CNY feedign soon once I get gs protection sorted out

194
Another update folks!

The 4th invitation slot goes to MichaelX who will be joining us in Athens.

I think this will be a fairly good mix after all.

a committee member
a major proxy
the core team coordinator
and the voted spokesperson

I can confidently say we'll all do our best to represent BitShares and spread the word as much as we possibly can while there.

That is really an awesome group, thanks to all willing to participate and represent the community!

Do you know if they do recording of the talks?

I do :)




Click this link to see the presentation from Fox  >>>>    https://d.tube/v/liondani/utqhoukd

All presentations will be released on their website soon

195
Just to finish the accounting on this:

Printing of booth materials (stickers & leaflets): 415 Euro , at 1.15USD/EUR = 477.25 at 0.09 USD/BTS at the time = 5303

Extra Costs:
Full page ad design
Leaflet Design
Development of tx explorer for the booth (http://clients.clockwork.gr/decentralized/#/)
Development of mobile-only easy signup through QR code (https://bitshares.org/conferences/decentralized18/#/)

Total of 550$ (Cost more but upper limit allowed by the worker description)

At 0.09USD/BTS = 6111 BTS

For a total of 11414 BTS.

Remaining worker balance was 116675. So end balance = 105261

The remaining BTS balance was sent back to the reserve pool here: http://cryptofresh.com/tx/113af311d028efc5434693afd3b956f356ba05aa

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