I understand that bitusd holders may want the security and don't want to sell their bitusd even at 200,100,50,30,1..That is fair enough...
What I don't understand is why someone will pay now +10% to buy bitusd to cover? Is it because i.e. someone can start dumping BTS like crazy on the external exchanges, manipulate the market and trigger margin calls? I really can't think of anything else..If that is the case and something like that happens at these levels then...we might as well go back to buy some earthcoins, or worldcoins etc..BTS will become worthless..
Relative orders obviously is a must.
I have no idea of how the cover orders behave right now, and even less in the future (for example, in what orders will they be covered ?). If the new 17000 lines of code thing is full of bugs/doesn't deliver for any reason, and the price crashes again, I certainly don't want my BTS to be locked.
And yes, I'm a bit paranoid of a whale attack. 70000 bitUSD in cover orders, that must be around 70000 * 200 * 3 = 42 millions BTS locked. With 26 bitBTC and 400 bitSILVER, that makes more than 50 millions. I have the impression it's possible to get a large portion of those by manipulating the price, but maybe I'm completely wrong on that. So yes, I'm willing to buy over price feed (not 10% though), because I'm still bearish (just when price goes up.. I've been almost 100% wrong all the way down, now I'm wrong again on the way up).
Actually, I wasn't sure before today that I could still manually cover the expired shorts. In my mind I could not, that's stupid, I should have asked.