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Messages - kadawum

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General Discussion / Re: please restart BSIP42!!!
« on: December 05, 2018, 11:20:25 am »
Quote from: Dinko on December 03, 2018, 06:46:31 pm
Hi ! How can I vote against that, could somebody walk me through? I have just 33k BitShares but I would like to vote against such control. Why would not the free market of this decentralized world decide the direction of where all is heading? why would a crab be a market maker in "decentralized" society ? I may not be with much knowledge of this ecosystem but I know when I smell fish

1) To vote against BSIP42, in the bitshares UI go to Menu --> Voting --> Workers. There you can toggle your votes. Specifically, make sure that you are voting for 1.14.119 and against 1.14.118, if you don't want prices to be manipulated by witnesses. Finally, it is important to remember to click on save so that your changes will be stored in the blockchain.

2) To vote for witnesses who are feeding correct price data, you first check which of the price feeds are real market prices. Therefore, go to https://wallet.bitshares.org/#/asset/CNY and on the bottom click on "Price Feed Data" and look in the column Settlement Price and note down all witnesses who are feeding the correct price. You can look up the real market price, for example by taking the binance USD/BTS price and converting it to CNY. Now, to vote for the corresponding witnesses go to Menu --> Voting --> Witnesses and toggle on the votes only for the witnesses who are feeding correct prices. And again, remember to save the changes to the blockchain.

In my case, the result looks like this:


Alternatively, you could just set a proxy in the voting screen so that you do not have to do all this yourself. In that case you need to find someone who is voting similar to you and you can just set their username as a proxy.

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General Discussion / Re: please restart BSIP42!!!
« on: November 29, 2018, 12:15:24 pm »
Quote from: akledirs on November 29, 2018, 11:30:46 am
If Invisible hand of market decide. that bitCNY > CNY, I no think that witnesses must be manipulate of feedprice for safe interest of bitcrab and other big debtors

I am also against market manipulation by witnesses and manipulated feeds. I already updated my witness votes to reflect this, and I am currently only voting for witnesses with correct feeds. These manipulated feeds are the reason why we are in this mess in the first place, because they were leading to the accumulation of undercollateralized positions.

Quote from: bitcrab on November 29, 2018, 06:40:04 am
1. price fall continue， bitCNY holders seems to wait for lower price, no big will to eat current margin call orders.
You are suggesting to effectively disable margin calls, which will lead to unsustainable accumulation of debt. This is exactly what was leading to this problem now. Your argument that anyway nobody will eat the margin calls is very problematic. Just think about what you are saying:

If witnesses would always be feeding real market prices then everyone who eats these margin calls can make a 10% bonus. If nobody eats these margin-calls with a 10% bonus, then why would anyone do it, if you reduce the bonus to 0% (which is effectively what you are suggesting)? If you manipulate the price feeds in this way, you are effectively completely disabling margin calls and with it you are destroying the fundamental basis of how these assets are working. If bitCNY-Borrowers do not have to fear any consequences of being under-collateralize, it is damaging the whole system.

I still hope that shareholders will wake up and vote accordingly to safe this project.

Therefore:
1. please vote against BSIP42, which produced this mess in the first place.
2. please vote against witnesses who are feeding manipulated prices.

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General Discussion / Re: How were the BTWTY tokens issued?
« on: January 15, 2018, 03:28:53 am »
Quote from: EstefanTT on January 14, 2018, 12:31:07 pm
There are a big difference between permissions and flags. Permissions are possibilities, flags are real. I leave all permission as standard but I only have 2 active flags : "Charge market fee" and "Witness fed asset". You can see them here : http://cryptofresh.com/a/BTWTY

Correct me if I am wrong, but if you leave the permission enabled, then you can change the flag whenever  you want so that you have the possibility to transfer any BTWTY at your will... Or is that not the case?

The Bitshares Documentation clearly states: "When an asset is created, the issuer can set any combination of flags/permissions. Flags are set in stone unless there is permission to edit. Once a permission to edit is revoked, flags are permanent, and can never be modified again."

Therefore, as far as I understand it, you as the issuer have the permission enabled to edit the flag "ISSUER MAY TRANSFER ASSET BACK TO HIMSELF". That means you could enable the flag at any time and could make use of it and just transfer funds as you wish. So why not disable that permission? If you have no intention to use that flag, then there should not be any reason to leave that permission enabled, or is there?

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General Discussion / Re: How were the BTWTY tokens issued?
« on: January 13, 2018, 08:19:03 pm »
Quote from: yvv on January 13, 2018, 05:55:59 pm
Quote
ISSUER MAY TRANSFER ASSET BACK TO HIMSELF

I don't know what the hell does this exactly mean, but bitAsset issuer certainly can't transfer it to himself at his will.
 

According to this blog entry (http://bit.ly/2D9C5e7) it allows exactly this: to transfer it to anyone else at his will.

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General Discussion / Re: How were the BTWTY tokens issued?
« on: January 12, 2018, 09:59:42 pm »
Thank you for the explanation. So, how can I determine for a specific asset if it was completely borrowed into existence or if some of the supply was issued by some centralized individual or organization?

Furthermore, in the BTWTY page (https://wallet.bitshares.org/#/asset/BTWTY) the asset is listed with the permission "ISSUER MAY TRANSFER ASSET BACK TO HIMSELF". So it seems that the individual who controls the issuing account (in this case estefantt) is able to just transfer the assets back to himself as he wishes. Is there a good reason that this permission flag is enabled? It seems that most other assets (HERO, BitUSD, ...) have this flag enabled as well. In the case of BitUSD the issuer is the committee-account, so that I assume that it is much harder to make use of this permission. But in the case of BTWTY and HERO, it seems that it makes the asset completely centralized and controllable by the one individual who is listed as issuer. Am I missing something here as well? Thank you.

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General Discussion / Re: How were the BTWTY tokens issued?
« on: January 12, 2018, 09:01:17 pm »
How is that possible? There are no margin positions while there are clearly BTWTY in circulation. So it seems they are not only shorted/borrowed into existence. Furthermore, in contrast to bitUSD and bitCNY the issuer is an individual and not the committee-account. Am I missing something?

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General Discussion / How were the BTWTY tokens issued?
« on: January 11, 2018, 11:44:51 pm »
I am trying to understand the mechanics of the Bittwenty index (BTWTY). I have a few questions and it would be nice if someone could clarify if I understand it correctly:

Was the current supply completely issued by estefantt? Is my assumption correct, that BTWTY tracks the performance of the top-20 cryptocurrencies just virtually without physical replication?

Thank you.

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General Discussion / Re: Why is Current Supply not equal to the sum of all Margin Positions?
« on: January 11, 2018, 01:19:20 am »
Thank you for the explanation. Now I was able to confirm with the cli_wallet that the sum is matching to the current supply.

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General Discussion / Re: Why is Current Supply not equal to the sum of all Margin Positions?
« on: January 10, 2018, 07:09:16 pm »
I copied the full table to a spreadsheet and calculated the sum of the Debt column. So the sum is not displayed there because I calculated it myself.

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General Discussion / Re: Why is Current Supply not equal to the sum of all Margin Positions?
« on: January 10, 2018, 06:29:40 pm »
https://wallet.bitshares.org/#/asset/USD

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General Discussion / Why is Current Supply not equal to the sum of all Margin Positions?
« on: January 10, 2018, 06:07:41 pm »
I would like to get a better knowledge about the inner workings of SmartAssets.
On the BitUSD Asset Page it is listed with a "Current supply" of 28,558,281.0318 bitUSD.
But on the bottom of the page in the "Margin Positions" tab, the sum of all Debt ( BitUSD) is 19,849,062.7291 bitUSD.

I always assumed that the "Current Supply" should be exactly equal to the sum of all margin positions. Isn't bitUSD completely borrowed into existence? But then where is the excess supply of 8,709,218.3027 bitUSD coming from? I am wondering, if everyone would want to cash out, there would not be enough collateral BTS left at some point. Please, could someone help me understand where the additional bitUSD is created, if not by borrowing. Thank you very much.

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