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Messages - brendio

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General Discussion / Re: The Hero from BitShares Island
« on: July 15, 2019, 09:26:38 am »
I have the feeds set up for when this thing kicks off.

I see you stopped producing feeds a couple of weeks ago. I'm not sure whether this corresponded with you falling out of the active witnesses list. In any case, it has meant that there are no longer enough valid feeds to produce a price for the HERO asset.

So, sorry to necro-bump, but is HERO dead?

Here's my prediction:

Crypto markets are currently overheated, which means that a significant correction will happen sooner or later. At that point, most BitAssets, including HERO, will be undercollateralized and suffer a black swan. Everybody loses.
So you are predicting that the bts price will drop so fast as to trigger a chain of margin calls in the short positions of SmartCoins will not be able to sell their assets to repay their debt to the BitShares blockchain?

If you were a very large short position on SmartCoins right now, would you be settling the debt ASAP and holding in bts?

I have noticed the total Market Cap of SmartCoins has dropped by over 50% since yesterday:
https://bitsharestalk.org/index.php/topic,24159.0.html
This prediction turned out pretty spot on, in retrospect.

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