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no, force settle shouldn't used usuallywe don't need give the force settle order the best price.In fact we should ask for a compensate from the force settle, give the compensate to shorters.don't waste any time to develop this.
Quote from: Shentist on January 21, 2016, 06:29:01 amif i understand it correct it was "forced settled" and not margin called?force settle means someone sells his USD for the feedprice and the least collaterized has to buy this sell order. so it is logic that your order will not be matched, becausethe order has already a seller and a buyer.Yes this was allsop using a settle order to convert USD he was holding into BTS at the feed price. Like you say this will not match buy orders on the orderbook because that's how it was designed. I saw that happen a few days ago as well where someone settled ~0.3 BTC and got a far worse price than what they'd gotten for just selling on the open market.Perhaps making the settle order walk the orderbook until it hits the feed price is too complicated to implement, but there's definitely a case for having it do that rather than simply ignoring the orderbook.
if i understand it correct it was "forced settled" and not margin called?force settle means someone sells his USD for the feedprice and the least collaterized has to buy this sell order. so it is logic that your order will not be matched, becausethe order has already a seller and a buyer.
Quote from: clayop on January 21, 2016, 01:37:20 amIt buys BTS collateral of lowest shorts, not BTS on the orderbook.Is there any reason why the system should not check the order book first, and if there are better offers than settlement price, take them first, then go buy lowest collateral? It would really seem to be a good deal for everybody.
It buys BTS collateral of lowest shorts, not BTS on the orderbook.
If you create smartcoin it is not always a short. it is only a short if you sell your newly created smartcoin. when a smartcoin is force settled it takes the equivalent value in bts from the the lowest collateralised smartcoin and returns the remaining bts collateral to the smartcoin creator. This is how it currently works and I understand it. What I am saying is that the system should check for any buy orders that are higher than the feed price first before taking collateral from the smartcoin creators. This way everyone wins.
Quote from: lil_jay890 on January 21, 2016, 12:22:26 amBrent has been around for a long time... I'm guessing he was in at much higher levels and is just cutting his losses. Really too bad as he was pretty active too...You understand that by settling bitusd you are actually buying. so brent was actually purchasing $10k worth of bts.
Brent has been around for a long time... I'm guessing he was in at much higher levels and is just cutting his losses. Really too bad as he was pretty active too...
Quote from: JonnyBitcoin on January 21, 2016, 01:34:14 amQuote from: clayop on January 21, 2016, 01:16:58 amQuote from: JonnyBitcoin on January 21, 2016, 12:53:21 amQuote from: clayop on January 21, 2016, 12:48:54 amQuote from: JonnyBitcoin on January 21, 2016, 12:44:00 amQuote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lowerHe settled about 24h ago.He requested settlement 24hrs ago yes but the settlement occurred an hour ago. look at his account it says order filled at 321You may misunderstand about settlement. It has no relationship with buy orders.I understand settlement well. His order to force settle was filled at 23:56 24hrs after he requested settlement.It is equivalent to a bts buy order which you know will execute in 24hrs at feed price with guaranteed liquidity. It buys BTS collateral of lowest shorts, not BTS on the orderbook.
Quote from: clayop on January 21, 2016, 01:16:58 amQuote from: JonnyBitcoin on January 21, 2016, 12:53:21 amQuote from: clayop on January 21, 2016, 12:48:54 amQuote from: JonnyBitcoin on January 21, 2016, 12:44:00 amQuote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lowerHe settled about 24h ago.He requested settlement 24hrs ago yes but the settlement occurred an hour ago. look at his account it says order filled at 321You may misunderstand about settlement. It has no relationship with buy orders.I understand settlement well. His order to force settle was filled at 23:56 24hrs after he requested settlement.It is equivalent to a bts buy order which you know will execute in 24hrs at feed price with guaranteed liquidity.
Quote from: JonnyBitcoin on January 21, 2016, 12:53:21 amQuote from: clayop on January 21, 2016, 12:48:54 amQuote from: JonnyBitcoin on January 21, 2016, 12:44:00 amQuote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lowerHe settled about 24h ago.He requested settlement 24hrs ago yes but the settlement occurred an hour ago. look at his account it says order filled at 321You may misunderstand about settlement. It has no relationship with buy orders.
Quote from: clayop on January 21, 2016, 12:48:54 amQuote from: JonnyBitcoin on January 21, 2016, 12:44:00 amQuote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lowerHe settled about 24h ago.He requested settlement 24hrs ago yes but the settlement occurred an hour ago. look at his account it says order filled at 321
Quote from: JonnyBitcoin on January 21, 2016, 12:44:00 amQuote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lowerHe settled about 24h ago.
Quote from: clayop on January 21, 2016, 12:41:18 amQuote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lower
Quote from: JonnyBitcoin on January 21, 2016, 12:37:52 amQuote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?As far as I saw, there were no orders over the feed price when he settled bitUSD.
Quote from: clayop on January 21, 2016, 12:21:45 amIt settles $10k short positions from the bottom collateral level. Buy orders never be matched.Well there is no reason it shouldn't it shouldn't take any buy ordrers that are above the feed price first is there?
It settles $10k short positions from the bottom collateral level. Buy orders never be matched.