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interesting, why shall I trust you, not my eyes?
we just updated the design of bitCNY, in old times bitCNY is a derivative that base on BTS real time price. now it is a derivative that base on one function of BTS price
surely this change hurt bitCNY holders, but it solve the death spiral and benefit BTS future. the decision is made mainly by China community, include most of the bitCNY holders.
It's an identical problem - when faced with an unacceptable situation the outcome has been to repeatedly provide fake numbers.Trust me when I say nobody believes China has solved the problem, they're simply lying about the figures, exactly like how BSIP76 proponents have behaved with bitCNY (provide fake numbers to escape an undesirable reality). https://www.youtube.com/watch?v=llgCCybOZoAWhy does my location matter? No courts are open; if I was in china would you be demanding my incarceration? Sad. I may or may not currently reside in the fully independent nation state of Taiwan.
Stakeholder ProposalsPropose, discuss, and approve BitShares witnesses, workers, proxies, committee members, and other parameter changes.
Quote from: R on March 30, 2020, 12:26:19 amQuote from: bitcrab on March 29, 2020, 03:46:23 amIn August 1971, U.S. President Richard Nixon announced to remove the dollar peg to gold, the Bretton Woods System collapsed.You surely can say that US cheated the whole world, but the point is, at that moment US has no other choice.BTS also face similar problem, BTS need first to survive, and then can seek more.BitAssets are not created as a killer to BTS.BS. Global settlement would have nullified this bad debt issue & we'd likely have recovered by this point.BitAssets weren't created to defraud the bitshares community, yet here we are - the committee owned bitassets now permanently disgraced scamcoins.Shame on you for fundamentally destroying the integrity of bitassets permanently.On the upside, at least we know now that china's lying about their covid figures since these bitCNY fixed feeds are seemingly fully acceptable to the CCP. Had you not led the bitassets to defraud the entire Bitshares community I might have taken the CN Covid figures at face value and not prepared as well as I did for this quarantine. Cheers mate 👍if you want to discuss bitCNY issue, let's focus on it, covid figures is another irrelevant problem.and it's clear that China has solved internal problems and is now helping the whole world. as a Chinese that live in Shanghai I am clear what happened here.BTW, where do you come from?
Quote from: bitcrab on March 29, 2020, 03:46:23 amIn August 1971, U.S. President Richard Nixon announced to remove the dollar peg to gold, the Bretton Woods System collapsed.You surely can say that US cheated the whole world, but the point is, at that moment US has no other choice.BTS also face similar problem, BTS need first to survive, and then can seek more.BitAssets are not created as a killer to BTS.BS. Global settlement would have nullified this bad debt issue & we'd likely have recovered by this point.BitAssets weren't created to defraud the bitshares community, yet here we are - the committee owned bitassets now permanently disgraced scamcoins.Shame on you for fundamentally destroying the integrity of bitassets permanently.On the upside, at least we know now that china's lying about their covid figures since these bitCNY fixed feeds are seemingly fully acceptable to the CCP. Had you not led the bitassets to defraud the entire Bitshares community I might have taken the CN Covid figures at face value and not prepared as well as I did for this quarantine. Cheers mate 👍
In August 1971, U.S. President Richard Nixon announced to remove the dollar peg to gold, the Bretton Woods System collapsed.You surely can say that US cheated the whole world, but the point is, at that moment US has no other choice.BTS also face similar problem, BTS need first to survive, and then can seek more.BitAssets are not created as a killer to BTS.
Quote from: litepresence on March 29, 2020, 04:05:21 pmQuote from: bitcrab on March 29, 2020, 06:50:01 amI do not want to explain more to the guys who just say others do not understand this and that, it's wasting time.The best thing that could happen to bitshares is for you personally to end up in concrete box with bars after an anonymous report to state security and exchange commission. And all your friends and associates locked up and fined as well. Please somebody, do us all a favor, and report this asshole:CHINA http://www.csrc.gov.cn/pub/csrc_en/about/contact/USA https://www.sec.gov/tcrEU https://www.esma.europa.eu/whistleblowers-cornerIf you report to SEC you may be eligible for up to 10% of any money recovered as a reward!Flectere si nequeo superos, Acheronta movebo.just report it yourself, don't you like the reward?the decision is made by community through voting, not by myself.
Quote from: bitcrab on March 29, 2020, 06:50:01 amI do not want to explain more to the guys who just say others do not understand this and that, it's wasting time.The best thing that could happen to bitshares is for you personally to end up in concrete box with bars after an anonymous report to state security and exchange commission. And all your friends and associates locked up and fined as well. Please somebody, do us all a favor, and report this asshole:CHINA http://www.csrc.gov.cn/pub/csrc_en/about/contact/USA https://www.sec.gov/tcrEU https://www.esma.europa.eu/whistleblowers-cornerIf you report to SEC you may be eligible for up to 10% of any money recovered as a reward!Flectere si nequeo superos, Acheronta movebo.
I do not want to explain more to the guys who just say others do not understand this and that, it's wasting time.
Quote from: bitcrab on March 29, 2020, 03:46:23 amIn August 1971, U.S. President Richard Nixon announced to remove the dollar peg to gold, the Bretton Woods System collapsed.You surely can say that US cheated the whole world, but the point is, at that moment US has no other choice.BTS also face similar problem, BTS need first to survive, and then can seek more.BitAssets are not created as a killer to BTS.You give an example that you didn't understand until now,that is such an irrelevant example.If other stablecoin use BTS as collateral, then you will get a very good pretext to blame which is the culprit can‘t make BTS survive!How pathetic and preposterous!Then who is the killer to BTS?
Quote from: R on March 28, 2020, 01:35:57 pmBSIP76 is a scam. Even to this day the bitshares.org website misleads investors: https://bitshares.org/technology/price-stable-cryptocurrencies/BSIP76 has HUMILIATED CNY on an international stage & destroyed the credibility of bitassets as a store of value permanently.Shame on all BSIP76 proponents.If you do not understand what sense does BSIP76 make, update yourself.bitshares.org need update.we understand BSIP76 make bitCNY&bitUSD peg off, but there is no better choice.to stop the death spiral from destroying BTS, we have to do so.what we need to do is make BTS price above the threshold stably, the way is to make the system income support BTS price, and that is what the core prelude worker focus on.
BSIP76 is a scam. Even to this day the bitshares.org website misleads investors: https://bitshares.org/technology/price-stable-cryptocurrencies/BSIP76 has HUMILIATED CNY on an international stage & destroyed the credibility of bitassets as a store of value permanently.Shame on all BSIP76 proponents.
Quote from: abit on October 08, 2019, 06:29:05 pmAs far as I can tell, data on CMC is not reliable.72% of volume on BTS on CMC is from CoinEgg, with fake volume.100% of volume on bitCNY on CMC is from CoinTiger, where you can't deposit/withdraw.I have no idea how Coingecko got that data.0.19975 CNY/BTS : https://www.livecoinwatch.com/price/BitShares-BTS0.20149 CNY/BTS : https://coincodex.com/crypto/bitshares/?period=7D0.2006 CNY/BTS: https://coincheckup.com/coins/bitshares/0.208 CNY/BTS: https://coinlib.io/coin/BTS/Bitshares0.20152 CNY/BTS: https://coincap.io/assets/bitsharesavg: (0.19975 + 0.20149 + 0.2006 + 0.208 + 0.20152)/5 = 0.202272 CNY/BTSavg value of 1 bitCNY: 4.54545 * 0.202272 = 0.9194172624 = 8.058% below peg
As far as I can tell, data on CMC is not reliable.72% of volume on BTS on CMC is from CoinEgg, with fake volume.100% of volume on bitCNY on CMC is from CoinTiger, where you can't deposit/withdraw.I have no idea how Coingecko got that data.
I don't think the result you got is right.The right answer is there: https://dev.bts.xyz/merchant/staff?action=recharge&asset=CNY
bitCNY/CNY conversion fee at this moment:
It's more than 4% though, no? https://bitsharestalk.org/index.php?topic=29679.msg336034#msg336034CNY feed price: 4.54545 BTS per 1 CNY (https://wallet.bitshares.org/#/asset/CNY)1 CNY in USD (CURRENT): $0.140133 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=CNY&To=USD)1 BTS in USD (CURRENT): $0.028488 (https://coinmarketcap.com/currencies/bitshares/)(1-((4.54545*0.028488)/0.140133))*100= 7.594%1 CNY in USD (26th september 2019): $0.140220 (https://www.poundsterlinglive.com/best-exchange-rates/best-us-dollar-to-chinese-yuan-history)1 BTS in USD (26th september 2019): $0.025056 (same cmc source)(1-((4.54545*0.025056)/0.140220))*100= 18.777% (That's a deep discount, no?)
Quote from: bench on October 07, 2019, 09:26:28 pmQuote from: R on October 07, 2019, 07:58:11 pmHow long will this be active for then? It's almost been 2 weeks now.Until MCR for bitCNY is set to 1.5. Min. feedprice can be lowered to 0.20625 bitCNY/BTSI very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.
Quote from: R on October 07, 2019, 07:58:11 pmHow long will this be active for then? It's almost been 2 weeks now.Until MCR for bitCNY is set to 1.5. Min. feedprice can be lowered to 0.20625 bitCNY/BTS
How long will this be active for then? It's almost been 2 weeks now.
Quote from: bitcrab on October 08, 2019, 09:43:43 amQuote from: sschiessl on October 08, 2019, 08:08:41 amQuote from: bench on October 07, 2019, 09:26:28 pmQuote from: R on October 07, 2019, 07:58:11 pmHow long will this be active for then? It's almost been 2 weeks now.Until MCR for bitCNY is set to 1.5. Min. feedprice can be lowered to 0.20625 bitCNY/BTSI very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.I don't think that will happen, I don't think community will select to lower the threshold.actually the current status is not so bad, although BTS market price is about 10% lower than 0.22CNY, bitCNY has about 4% discount, better than the 10%+ premium that we always see when MSSR=1.1.It's more than 4% though, no? https://bitsharestalk.org/index.php?topic=29679.msg336034#msg336034CNY feed price: 4.54545 BTS per 1 CNY (https://wallet.bitshares.org/#/asset/CNY)1 CNY in USD (CURRENT): $0.140133 (https://www.xe.com/currencyconverter/convert/?Amount=1&From=CNY&To=USD)1 BTS in USD (CURRENT): $0.028488 (https://coinmarketcap.com/currencies/bitshares/)(1-((4.54545*0.028488)/0.140133))*100= 7.594%1 CNY in USD (26th september 2019): $0.140220 (https://www.poundsterlinglive.com/best-exchange-rates/best-us-dollar-to-chinese-yuan-history)1 BTS in USD (26th september 2019): $0.025056 (same cmc source)(1-((4.54545*0.025056)/0.140220))*100= 18.777% (That's a deep discount, no?)
Quote from: sschiessl on October 08, 2019, 08:08:41 amQuote from: bench on October 07, 2019, 09:26:28 pmQuote from: R on October 07, 2019, 07:58:11 pmHow long will this be active for then? It's almost been 2 weeks now.Until MCR for bitCNY is set to 1.5. Min. feedprice can be lowered to 0.20625 bitCNY/BTSI very much doubt that lowering the threshhold will __ever__ happen, as long as the outside market price is lower. It would mean instant margin call for pretty much all positions.I don't think that will happen, I don't think community will select to lower the threshold.actually the current status is not so bad, although BTS market price is about 10% lower than 0.22CNY, bitCNY has about 4% discount, better than the 10%+ premium that we always see when MSSR=1.1.
Quote from: Thul3 on September 26, 2019, 11:43:03 pmLosing pegg for a described timeframe is not as bad as losing big part of the community and their trust because bitshares can't protect debt holders from obvious price manipulation.Who is going to take the risk to create debt if bitshares shows that everyone can manipulate them like he is pleased.The only manipulation happening here is this arbitrary price feed that has nothing to do with reality!You are deliberately destroying the credibility of our SmartCoins, and you think that will instill trust in our userbase?
Losing pegg for a described timeframe is not as bad as losing big part of the community and their trust because bitshares can't protect debt holders from obvious price manipulation.Who is going to take the risk to create debt if bitshares shows that everyone can manipulate them like he is pleased.
It reflects the ideas from two people, abit and yourself. Certainly not "the community" nor "the team".
It destroys the value proposition of our smartcoins. What else is a smartcoin good for? Who is ever going to believe that 1 bitCNY = 1 CNY if you decide to break the peg in order to protect the interests of speculators, using the voting power of these speculators?Detroying credibility of our smartcoins will have a devastating effect on the entire BitShares ecosystem.
it really reflect the ideas from the community and the team.
I don't think this will do bad to smartcoins.
This does not look good. Reminds me on BSIP42. Why did the Chinese community not vote for 1.14.215 Poll - BSIP59 - Reduce MCR of bitCNY to 1.5?
BSIP 76 was merged without following proper procedures. Discussion was (and is) still ongoing.This is a deliberate attempt to unilaterally destroy the concept of our smartcoins, without caring about the consequences.