Fortunately the only way to harm shorts is to buy BitUSD... dump BTS on external markets... for them to settle at a loss.   

Agree

But this is real market action and fair.

Not agree.
What I need to do is:
1. Keeping dump BTS in external market, at the same time buy BitUSD in internal market. This will cause the BTS price fall. (I'm a whale, and have enough BTS)
2. After the price is down  more than 5%(just a example) after 24 hours. I require a settlement in internal market, this will not make BTS price up (no market impact in settlement but only 1% price gap). I will get more BTS than before I buy BitUSD.
3. Buy BTS in external market, (maybe loss a bit BTS compared to before I sell BTS).

The chance is very big that the BTS I earned in step 2 is more than what I lost in step 3. Because In step 2 I will make no market impact with only 1% price gap. In step3 as the BTS price is already drag down by myself, I can buy cheap BTS, even if the price raise when I buy BTS back.  It is likely the price will not raise to the price before Step 1.

   If you have enough BTS to push the price down by 1% in 24 hours then you signaled your move when you purchased BitUSD above market and again when you requested settlement which would likely cause the market to fall before you can sell your BTS.  Your gains on the BitUSD side would be offset by your losses on the BTS side.

Did not get you. why the settlement will cause the market to fall  Why I want to sell my BTS?

This is not fair for shorter, and the system will not work!!!!
Because people hold BITUSD can get BTS back at any time, with not market impact no matter how big the volume the settlement is.

If I'm a whale and holding a lot of BTS. And I want get more.
Here is what I need to do:
1. Keeping dump BTS in external market, at the same time buy BitUSD in internal market. This will cause the BTS price fall. (I'm a whale, and have enough BTS)
2. After the price is down  more than 5%(just a example) after 24 hours. I require a settlement in internal market, this will not make BTS price up (no market impact in settlement but only 1% price gap). I will get more BTS than before Step 1.
3. Buy BTS in external market, (maybe loss a little bit BTS compared to before Step 1).

The chance is very big that the BTS I earned in step 2 is more than what I lost in step 3. Because In step 2 I will make no market impact with only 1% price gap. In step3 as the BTS price is already drag down by myself, I can buy cheap BTS, even if the price raise when I buy BTS back.  It is likely the price will not raise to the price before Step 1.

The point here is the people who hold BITUSD do not need to drive the BTS price up when they convert BITUSD to BTS. (only 1% price gap to cover)
While shorter's have no chose, ever if they do not want this settlement.

Without the settlement rule, if people want convert BITUSD to BTS, they need to buy BTS with BITUSD, and it will move the BTS price up. That is what a free market behave. Settlement will not have market impact, this is the key, why BitAsset 3.0 will fail.

Settlement thing is not free market, which can be manipulated.

How do u think about this?

How to titian? I cannot find the way

辛苦了

Quote from: lastagile on April 22, 2015, 02:17:03 pm

If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..

We have already identified this problem and also the solution:

1) No interest on BitUSD
2) No expiration on Shorts unless USD request force settlement at a discount (profit to the short)
3) Bond market which locks up BitUSD like a CD and pays interest.

Oh, sorry. I don't know this.
Is there an official post to reveal this. So that the market will not go crazy again in the following expire flood. 

Quote from: nomoreheroes7 on April 22, 2015, 01:19:17 pm

Quote from: xiahui135 on April 22, 2015, 12:03:36 pm

People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.

Quote from: lastagile on April 22, 2015, 12:47:11 pm

Will never up before the short rule change. . Ridiculous rule


从我的 iPhone 发送，使用 Tapatalk

...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?

Things finally seem to be starting to turn around...guess they didn't get the memo.

Both observations are correct. The Chinese are smart.

If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things and pay interesting.
In BTS, I short BTS to get BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BM, how u come up this ideal to make BTS as an bank? that is ridiculous.

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.

Can not get data using phone


从我的 iPhone 发送，使用 Tapatalk

I just tried, very easy to use.