BitShares Forum
Main => General Discussion => Topic started by: Shentist on September 22, 2014, 09:59:18 pm
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i don't get it, how is it done`?
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This post https://bitsharestalk.org/index.php?topic=9029.msg117572#msg117572
Is the best that I am aware of.
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Here's my explanation. I'm pretty sure this is correct, but not 100% sure. I've been hinting in multiple threads that I'd like the developers to confirm I have all the details right, and/or publish an official or semi-official explanation of the new mechanics. Interest was expressed, but I guess they haven't had time to do it quite yet. So my explanation is probably the best that's going to be available for a bit.
The behavior for several versions has been to cancel short orders below the feed.
In 0.4.16, that is changing; short orders below the feed now execute at the feed.
You can view the feed as "pushing up" the price for all the shorts that fall below it, to the level of the feed. If a short is pushed up so far that the shorter's collateral is less than 1/2 (i.e. order.collateral < feed_price * order.quantity) then the short won't execute.
Before 0.4.16, short collateral was always price times quantity. Now, the shorter can optionally set collateral to be more than price times quantity. Why would the shorters want to do this? There are two incentives:
- A higher collateral short is able to be pushed up by the feed instead of being unable to execute when the feed tries to move up through it.
- When bidders try to buy through the short wall, the system prefers higher collateral shorts to execute first.
Here is the thread discussing these changes: https://bitsharestalk.org/index.php?topic=9029.0
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i think i get it know.
without explanation in the gui it is to complicated.
we need now a section with a documentation or maybe links to the wiki. new users need to know how to do something.
if i understand it correct the explanation could be done like this
"the shorts are only executed to the feedprice (average or median??). you will see on the ASK side a shortwall and the available shorts who will executed at the feedprice, if someone want to buy at this price. if you don't place a price for your short, the short could be executed at the feedprice."