I share Thul's concern about a lower low but agree with Xerox's reasoning.

Main thing is making sure that margins are sold as we drop so I am keen to see some ideas around making sure that happens implemented.

A lower mcr should drop premiums, align Dex and cex price and thus ensure margins are being bought...however I am concerned about our reaction time via bsip if we need to raise it again

Maybe we need add a parameter to balance the exchange of feed price, the wittness exchange of the BTC, USDT, USD, BTS, DOLLOR, CNY were so different.

First: Remove the maximum and minimum effective feed price;

Second: the parameter Z=(The sum of the top five maxima effective feed price - The sum of the last five minima effective feed price)/(The sum of the top five maxima effective feed price + The sum of the last five minima effective feed price);

Third: the Final feed price=median of witness feeds*(1+the parameter Z)

how about?

in.abit   0.492   17秒钟前 witness.yao   0.4902   23秒钟前 clockwork   0.4891   44秒钟前 gdex-witness   0.4891   1分钟前 roelandp   0.4891   2分钟前 bhuz   0.4889   4分钟前 btspp-witness   0.4873   7分钟前 delegate-zhaomu   0.4864   7分钟前 zapata42-witness   0.4862   7分钟前 openledger-dc   0.4818   11分钟前 abc123   0.4818   11分钟前 sahkan-bitshares   0.4816   12分钟前 delegate-1.lafona   0.481   12分钟前 fox   0.4808   13分钟前 xeldal   0.4803   15分钟前 magicwallet.witness   0.4797   16分钟前 verbaltech2   0.4794   18分钟前 xn-delegate   0.4787   20分钟前 blckchnd   0.4784   22分钟前

the Final feed price=0.4848*(1+0.009803)=0.4896

2 witness collude to feed 50 : Z becomes ~0.9 -> feed almost doubles

Why some denominated in USD terms and others in BTS terms?

There should be a collective push from all sides of community to create a decent platform for people to promote themselves as proxies. A social media style website with proxy profiles and easy voting, perhaps with Beet used so a click on the website alters the blockchain.

Working on this for committee and I believe stefan is working on it for workers.

And I agree...it would be huge for involvement

As promised last week, I am now starting to rotate my votes. Consequently, I will remove my vote from workers even though I technically support them to give room for other workers.

The list of workers I (generally support):
- 201902-bitshares-core
- 201902-reference-faucet
- 201902-infrastructure
- 201902-bitshares-ui
- 201810-bitshares-org
- 201901-legal-representative
- 201902-marketing-interviews-articles-and-visibility
- 2018-09-rossul-ui
- 201903-atomic-cross-chain-swaps
- 201812 Bitshares Mobile App   [this one should be fully funded already - @team, please update us]
- 201903-bitshares.org-exotic-infrastructure
- DEXBot WP2 - Liquidity for the DEX

Poll workers I keep supporting:
- Poll - BSIP59 - Reduce MSSR of bitCNY to 1.02
- Poll - BSIP59 - Reduce MCR of bitCNY to 1.6

The ones I vote for in this period:
- 201902-bitshares-core
- 201902-infrastructure
- 201810-bitshares-org
- 201902-marketing-interviews-articles-and-visibility
- 201903-atomic-cross-chain-swaps
- 201903-bitshares.org-exotic-infrastructure

(e.g. every odd worker in the list above)

Thanks for the update xeroc. This is an excellent way to ensure adequate funding for more workers and I hope other proxies follow suit and sync their pick with yours.

However, although I understand you went for a simple first-selection algorithm, I suggest you change your first picks to include ones that are in more "urgent" need of funding such as rossul.

How often do you plan to rotate the votes?

Quote from: clockwork on March 28, 2019, 01:03:25 pm

Quote from: binggo on March 28, 2019, 11:56:29 am

Quote

BSIP42 (which left MCR/MSSR unchanged and relied on a "fake" price) was a different story altogether.

I agree that changing MCR/MSSR often makes it hard to evaluate risk but at the same time , it's the ONLY way to fight discount/premium.

They were a same story, and you will find it out finally. We have talk about these in Chinese forum, they are same, BSIP42  not changed the feed price only, it also changed the MCR/MSSR from another point of view.

So changing MCR/MSSR often is another BSIP42, no different, and only MSSR affects premium a bit.

Let the Force Settlement offset change as the CR, it a way.

I know the end effect was almost the same. That's why we adopted that solution in the first place since we couldn't mess with MCR/MSSR directly.

My point about BSIP42 being a different story had to do with the way it was applied and the extremely slow response to trend changes

I don't think the wittness have the ability to do this, they are not the economist, they have poor showing in the BSIP42.

Just like said" Stable coins no longer become stable if witnesses change MCR/MSSR every minute or every hour."

If the futures market change the MCR/MSSR often, what will happen?

Don't focus on the MCR, let's check the Force Settlement offset, let it change as the CR, will a better way.

a) Dont even try and blame BSIP42 on the witnesses. It was forced upon them via BSIP, same way this MCR BSIP is about to be
b) Actually, a continuously variable MCR/MSSR is EXACTLY what would keep them extremely stable (let's ignore the maths behind it for a moment and whether witnesses are up to the task or not)...fact of the matter is that you can't keep it stable with FIXED params...it needs to follow the market)
c) Futures market is a different story altogether... Even those however actually evaluate variation margin daily (and this is in a much more controlled and less volatile environment than crypto) and move funds between the 2 sides

Still trying to wrap my head around bsip18 after reading: https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

Please correct me if I am wrong about the following:

-By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?

End of the day I want to borrow bitusd and buy more bts with it by using existing bts as collateral.  Since that is not available at the moment, is the above method correct to get a position when this revives?

Attempt at a quick and easy explanation.

Right now , there is X amount of bitUSD in existence in the wild backed by Y amount of BTS collateral (the settlement fund)

Assuming no bids,

at some point , if BTS rises enough, Y will be 1.75x the value of X. At that point, the asset owner (committee-account) would acquire a position  of X debt backed by Y collateral at 1.75 CR

(you can imagine that  the asset owner has an implicit bid at 0 ratio if noone else bids).

Now , every bid someone makes takes the form of Y' BTS  for X' amount of debt.

This lowers the price at which revival will take place (since backing collateral is increased by Y') and bidders acquire the relevant position until debt is covered (ordered by descending ratio). If debt is not covered, the owner implicit-bid picks up the rest.

To try with numbers:

Assume 100 BTS (settlement fund) is backing 10$ (bitUSD in circulation) and current price is 10 BTS/$.

Asset would be revived when BTS price rose enough so that 100 BTS = 17.5 USD.

At that time, committee-account would acquire a position 100 BTS collateral tied up , 10 USD debt and 1.75 CR.

Now...if instead you placed a bid for 75 BTS for 10$ of debt, total collateral would reach 175BTS for the total 10$ fulfilling the 1.75x requirement and teh asset would be revived instantly.

You would then acquire a 175 BTS /10$ debt position , essentially "gaining" 100BTS (albeit tied up in a long position).

Quote from: binggo on March 28, 2019, 10:24:06 am

Quote from: lin5464 on March 28, 2019, 09:59:19 am

Quote from: Bangzi on March 28, 2019, 09:48:21 am

Stable coins no longer become stable if witnesses change MCR/MSSR every minute or every hour. Investors will feel very unsecure because the coin become very uncertain.

Thus I prefer the community propose BSIP to change MCR/MSSR, committee members announce it once it voted it and then witnesses implement it.

Agree with that.

Agree with that.

witnesses change MCR/MSSR every minute or every hour which like BSIP42, we have learned a lesson from BSIP 42.

BSIP42 (which left MCR/MSSR unchanged and relied on a "fake" price) was a different story altogether.

I agree that changing MCR/MSSR often makes it hard to evaluate risk but at the same time , it's the ONLY way to fight discount/premium.

We need to come up with a framework for it. Relying on BSIPs for every change HARDLY makes a difference as market changes much faster and could potentially leave us in a much worse state if market circumstances change quickly and MCR has gone low.

My suggestion originally was to allow witnesses to feed MCR/MSSR based on market conditions within a specified range. Thus if you stayed above that range you would always know where you stand (same as keeping your CR above 1.75 now).

Link to that very rough first implementation idea: https://bitsharestalk.org/index.php?topic=27360.msg324958#msg324958