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I'm trying to keep up with the bid ask rules, We're getting an average of 1% yield right now. There were expectations that this would be 5% floor that was the minimum.
NuBits of course takes the crown as it is repackaged nothing with a paycoin style "floor" that is upheld by centralized anonymous counterparties.
Quote from: Rune on January 28, 2015, 08:42:43 pmAlso saying that bitassets are repackaged bitshares is totally true (it's the entire point). Makes sense, but anyway, we're a bit off topic. Here's my question again:Quote from: Chronos on January 28, 2015, 07:48:48 pmDoes this change increase, or decrease, the risk to "normal folks" holding BitUSD, who don't want to mess with suddenly receiving BTS in their wallet instead of BitUSD?
Also saying that bitassets are repackaged bitshares is totally true (it's the entire point).
Does this change increase, or decrease, the risk to "normal folks" holding BitUSD, who don't want to mess with suddenly receiving BTS in their wallet instead of BitUSD?
We are adding an operation that will allow you to cover a short position using the collateral at any time. We are doing this by giving the user the ability to set the "call price" to anything higher than the "minimum call price". This feature makes it trivial to bypass the 5% fee by slightly increasing your call price, so this makes the 5% fee impossible to enforce.In reality the 5% fee merely served to create a variable amount of additional collateral depending upon the risk tolerance of each individual shorter. Considering we are raising the min collateral requirement from 1.5 to 2x the added benefit of the 5% fee is insignificant. The fear of a short squeeze and being forced to buy at up to 10% above the feed if there are not enough orders at the feed means there is still plenty of incentive to avoid forced buying. If you set your call price at or above the price feed then your order will be matched against any and all bids up to 10% above the feed. So be careful or you might just walk the book. Overall this will simplify the explanation of BitShares and shorts and remove uncertainty over how shorts and fees will be calculated.
Quote from: speedy on January 28, 2015, 07:59:09 pmQuote from: Chronos on January 28, 2015, 07:48:48 pmCritics say that BitUSD is only repackaged exposure to BTS. Does this change increase, or decrease, the risk to "normal folks" holding BitUSD, who don't want to mess with suddenly receiving BTS in their wallet instead of BitUSD?You are overstating the likelihood of this happening. Check this out: http://bitsharesblocks.com/assets/marketBitUSD is still 229% collaterlized.I'm not overstating anything, because I'm not stating anything. I'm asking a question. Well, I guess I'm stating that critics say this. Here's some evidence. https://discuss.nubits.com/t/bitshares-black-swan-event-analysis-by-dan-larimer/1279/2Quote from: a criticwhen there is widespread realization that every Bitasset is just repackaged Bitshares
Quote from: Chronos on January 28, 2015, 07:48:48 pmCritics say that BitUSD is only repackaged exposure to BTS. Does this change increase, or decrease, the risk to "normal folks" holding BitUSD, who don't want to mess with suddenly receiving BTS in their wallet instead of BitUSD?You are overstating the likelihood of this happening. Check this out: http://bitsharesblocks.com/assets/marketBitUSD is still 229% collaterlized.
Critics say that BitUSD is only repackaged exposure to BTS. Does this change increase, or decrease, the risk to "normal folks" holding BitUSD, who don't want to mess with suddenly receiving BTS in their wallet instead of BitUSD?
when there is widespread realization that every Bitasset is just repackaged Bitshares
Can anybody link to where this 'cover with collateral' feature was suggested to be coming at all, let alone before 1.0?Thanks.
Okay I keep thinking this over and have to admit that it is a good feature and necessary to have implemented by 1.0.I'm struggling with the recent delays and I seriously hope this will be the last new feature to get in before all resources are put on improving stability and usability. Ethereum is coming in less than 2 months.
The developers who are working on these things should be working on the light, mobile and web wallets instead so that they work flawlessly and have trading engine functionality. Innovation and new features are fun, but if bitshares dies due to never getting a working product out, there'll be nothing to innovative on and make new features for.
this summer