BSIP62: Close Margin Position #211
https://github.com/bitshares/bsips/issues/156https://bitsharestalk.org/index.php?topic=29722.msg336589#msg336589--------------------------------
I don't support BSIP62 and suggest the bts holder don't vote it.
1. BSIP62 is very dangerous for the market;it will become a very dangerous short tool for the big debtor holder, this will harm the market like MSSR=110 and will threat the other debtor holder very easily.
The market depth will be crushed first by the BSIP62, will make the other margin call can't be digested, then will appear ripple effect in the market, crush the depth and liquidity more quickly than before, and will lead the feed price down quickly too.
2. BSIP74 will become very useless; someone will avoid BSIP74 with BSIP62.
BSIP74 is a very important BSIP for the bitassets, with BSIP74, we can set the (MSSR-MCFR) very close to 1, this will not crush the market like before, if add the function of fee share, will encourage the buyer to eat the margin call.
If we set MSSR=1.1, MCFR=0.1, what will be happened with BSIP62?
3. BSIP77 will become very useless too, someone will avoid BSIP74 with BSIP62.
4. If have BSIP62, why do we need MCR?MCR will become useless too, if the debtor holder can't handlel his debtor rationality before margin called, how he can control his debit rationality below MCR?
The bitasset is not a leveraged market.
------------------------------
If want BSIP62 to become really useful? It must charge the MCFR fees+Liquidity penalty %;
If someone want to use BSIP62, the system will charge the MCFR fees ++Liquidity penalty % from the user.