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Messages - bitcrab

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1276
+5% +5% +5% +5% +5%

这里不包括“sell only required collateral” 新特性吗?大爆仓单还是全部挂出卖,只是部分成交后会实时调整抵押率和爆仓价?
是的。
那个还要继续讨论下,现在还不太清楚。

应该并不复杂吧。
给定一个target_CR(可调的全局参数?),爆仓时就据此算出需要卖出的BTS比例,卖出。
喂价可能会变,所以这个需要卖出的比例也需要实时调整。

1277
 +5% +5% +5% +5% +5%

这里不包括“sell only required collateral” 新特性吗?大爆仓单还是全部挂出卖,只是部分成交后会实时调整抵押率和爆仓价?

1278
General Discussion / Re: A proposal to update the margin call process
« on: February 05, 2018, 05:16:48 am »
This issue will be addressed by fixing https://github.com/bitshares/bitshares-core/issues/343 .

In short,
* always update the call price after a short position got partially margin called, and
* always start matching from position with least collateral ratio.

With this logic, if a big position is partially called by a small limit order, the position will leave on the book with higher call price. It can still be fully called by a big limit order though, which is at same risk as small positions.

great, in my view this issue should be give the highest priority to solve, the current process give manipulators big chance to short BTS and make money and increase the risk of black swan, all this hurt the BTS ecosystem greatly.

@abit please ask me to attend the test afte development.

1279
General Discussion / A proposal to update the margin call process
« on: February 04, 2018, 02:45:31 pm »
according to the current margin call rule, when the collateral rate of the debt position fall under 1.75, all the collateral are put into an order to sell at the price of settlement price * 0.9.

a big problem generalized by this rule is, when there is a huge debt position be margin called, a huge sell order will be there, this enhance the trend of the price go down, and speed up the coming of more margin call, this positive-feedback always lead to a disaster.

speculators realize that there a big chance to make money by shorting BTS and buy back BTS from the margin call order, they keep there eye on this and find chance to manually create margin call, the result is, users who generate smartcoin to cultivate the ecosystem are always in danger and be hurt now and then, and the price of BTS are in a big limit to go up.

actually it is not a must to sell all the collaterized BTS when the debt position is margin called, it's possible to split the debt position into 2 parts, give one part(let's call it reserve part) a higher collateral ratio(let's call it reserve collateral ratio) and put the other part(enhance part) into sell with a lower collateral ratio(let's call it enhance collateral ratio), this can reduce the quantity of sell orders and slow down the price to go down.

here we need to introduce 2 global parameters:

reserve collateral ratio (RCR) and enhance collateral ratio(ECR).

when a debt position are margin called, a process will be trigged to splict the position to 2 parts, the ratio for collateral that be put into reserve collateral part are:

r = RCR*(MCR-ECR)/MCR(RCR-ECR)

suppose MCR = 1.75, RCR = 1.8, ECR = 1.5, then r = 85.7%
suppose MCR = 1.75, RCR = 1.85, ECR = 1.5, then r = 75.5%

I believe this will help BTS a lot.

I wonder whether this is possible from development perspective and I hope this topic can be discussed more.




1280
有问题的地方不是高杠杆,而是爆仓机制有问题。
一个巨大的债仓,爆仓时只需要卖出部分抵押物就好,为什么要把所有抵押物都去挂单拍卖?所有的都拿去拍卖,造成的结果是巨大爆仓单砸盘,进一步强化了价跌趋势。

设想的一种爆仓方案:

当抵押率降到1.75触发爆仓时,如果债仓债务量>某设定值,则将债仓分为两部分:A部分按比如1.85的抵押率分配资产债务,B部分按比如抵押率为1.5分配资产债务,B部分挂爆仓单,A部分继续等待。

如果价格继续暴跌,引发A部分也爆仓,则继续按上述逻辑处理A债仓。

按上边举例的数字,则当爆仓时,一个大债仓只有2/7去挂了爆仓单,另外5 /7得以暂时保留,会大大减轻救市者的负担。

感觉必须做改动了,不然现在的爆仓机制给投机者提供了巨大的爆破获利机会,而市场培育者可能死无葬身之地。BTS的价格永远也不会到达需要的地方。

1281
General Discussion / please leave poloniex
« on: February 02, 2018, 04:47:34 pm »
each time BTS are in serious market situation, poloniex is maintaining BTS wallet and users cannot withdraw BTS, I cannot understand this without supposing poloniex is in collusion with some whales to manipulate the BTS price and make money.

this always put Bitshares into dangerous place.

if you love BTS, please leave poloniex, witnesses, please remove poloniex price from price feeding.



1282
建议等价格稳定在4CNY以上后,降到0.2CNY。
用不了多久,估计也就几周吧。

1283
now the system just restored from a disaster, can we wait some days to see how things will be like when the price goes a little up? and then decide?

5% is necessary because the price feeding does not trace the market value exactly enough, I don't think the problem is already solved.

1284
General Discussion / Re: review for price feeding
« on: December 31, 2017, 05:19:14 am »


I've taken a deeper look at price feeds and now i think they are good shape.
Please consider voting @ElMato back to the active witness set.

ok, let's check how it will behave.

1285
General Discussion / Re: review for price feeding
« on: December 30, 2017, 01:22:20 pm »
please take good care of your price feeding.

1286
General Discussion / Re: review for price feeding
« on: December 28, 2017, 05:54:09 am »

My feeds remain consistently accurate and updated frequently. However, I was recently replaced in the active witness list.

May I request your vote to return to the active witness set? Thank you in advance for your consideration.

voted you, but seems you also need to adjust the algorithm to feed an accurate price.

1287
General Discussion / Re: plan for "Graphene DEVCON"
« on: December 28, 2017, 05:29:55 am »
I am keen to contribute to the preDEVCON events. Please be in contact with details on the venue and schedule so that may book my accommodations promptly. Thank you for organizing.

date: 20th Jan 2018
place: naked Hub, No.35, Loushanguan Road, Shanghai

place may change, I'll update here ASAP if any change happen.

1288
General Discussion / plan for "Graphene DEVCON"
« on: December 27, 2017, 12:46:15 pm »
in 20th Jan 2018  there will be a meetup called "Graphene preDEVCON" in Shanghai, we invite some developers/entrepreneur to share their Graphene relevant projects, some possible topics are:

1.YOYOW's roadmap
2.ChenWei: A Graphene based IoT system.
3. MagicWallet's mission.
4.Introduction to DECENT
5.GXS, a data trading network
6.Harvey: oracle chain and EOS
7.GDEX
......

we called it "preDEVCON" as we regard it also as preparation to a real "DEVCON",  up to now some friends from abroad are also interested in this meetup, surely everyone is welcome however we begin to plan the real international "Graphene DEVCON".

firstly we need to decide the date for the DEVCON, it will be in March or April, now we need to collect more info to decide the exact date.

definitely we hope BM can come to Shanghai and share his ideas, so at first we need to check with him whether he would like to come and what period is ok for him.

any suggestions on this DEVCON, please reply here, your input is important for us.

1289
General Discussion / Re: review for price feeding
« on: December 24, 2017, 03:56:07 pm »
Quote
get DEX price A

What is "DEX price A"? Which pair exactly?

it refers to the price in bitCNY/BTS pair in DEX.

1290
General Discussion / Re: review for price feeding
« on: December 24, 2017, 03:45:27 pm »


currently the bitCNY price feeding is far from acceptable.
I will try my best to vote out the witnesses who always feeds a much lower price than the market price.

of course we need to answer one question first: how to define "market price".

regarding CNY market, obviously the market price need to be get first from DEX and also CNY market like AEX.

I don't care how one witness generate the final fed price , but I am sure that a fed price keeping >3% lower or higher than the latest DEX price is not acceptable.

regarding CNY price feeding, one possible algorithm is to get DEX price A and also get price B from other exchanges.

normally just feed A.
if A is 3% or more lower than B, feed B.

this can feed a price that closest to market and avoid the "positive feed back" machanism of DEX price.

take good care of the price feeding, please.

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