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Messages - clockwork

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136
Stakeholder Proposals / Re: [Poll] BSIP59:Reduce MCR of bitCNY to 1.6
« on: March 28, 2019, 11:07:43 am »
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).


137
Stakeholder Proposals / Re: [Poll] BSIP59:Reduce MCR of bitCNY to 1.6
« on: March 28, 2019, 09:32:16 am »
Quote from: xeroc on March 28, 2019, 08:47:18 am
I would like to hear the witnesses' thoughts on this. Ultimately, its their job

personally i thought the WHOLE idea of the MCR fix was so that witnesses could set it as they see fit (not that I know how mind you...i gave a suggestion once but dont think others gave it much thought)

if we change it simultaneously by agreement at a specified time, it kinda defeats the purpose of the bug fix

138
General Discussion / Re: Update market fee of bitCNY and bitUSD to 0.04%
« on: March 27, 2019, 12:18:38 pm »
Quote from: Thul3 on March 27, 2019, 11:41:16 am
+5%

would vote for it but am currently in fiat

it's a committee vote anyway ....stakeholders can influence it only indirectly by voting committee members in and out during the voting and  review periods.

139
General Discussion / Re: Update market fee of bitCNY and bitUSD to 0.04%
« on: March 27, 2019, 10:25:57 am »
voted.

Any suggestion that brings total fees on par with CEXs is good in my book

140
General Discussion / Re: fox、clockwork、blckchnd、elmato、crazybit、bangzi、magicwallt all ugly witness
« on: March 27, 2019, 10:24:47 am »
Quote from: ljk424 on March 27, 2019, 05:44:12 am
You have been submitting very low feed prices.Is it not for shorting the market?

hardly low... within 1% of median.

Yes, CNC and QC pairs are slightly higher but not by much. And other sources are lower. I feed what I feel is fair.

That's the thing about medians, some will be lower/some will be higher.

And no , I don't short the market... I don't really trade at all.

You can call me a cancer if my feed was 5-10% lower.

I don't appreciate the insults due to a 1% variance

141
General Discussion / Re: fox、clockwork、blckchnd、elmato、crazybit、bangzi、magicwallt all ugly witness
« on: March 26, 2019, 01:39:12 pm »
Quote from: ljk424 on March 26, 2019, 12:49:31 pm
Quote from: ljk424 on March 26, 2019, 12:48:34 pm
are you kidding????

magicwallet.witness   0.3850    1.75   1.02   
clockwork                   0.3888    1.75   1.02   
crazybit                           0.3882    1.75   1.02   
blckchnd                           0.3884    1.75   1.05   
elmato                           0.3867    1.75   1.1   
sahkan-bitshares           0.3887    1.75   1.02
when bts 0.4 bitcny

what is wrong with those feeds exactly?

142
Stakeholder Proposals / Re: [Fee Schedule] Updating Fees - proposal created (2 weeks expiration)
« on: March 26, 2019, 11:08:36 am »
Quote from: abit on March 26, 2019, 10:41:26 am
Proposal 1.10.25608 created:
* update bid_collateral fee to be same as call_order_update (debt position update) fee: 0.02526 BTS
* update account_update fee to 0.02528 BTS (increased by 1 Satoshi)

The proposal will expire in 3 days (2019-03-29 11:50:00 UTC).

Please vote.

good catch abit

voted

143
General Discussion / Re: Anyone from Vietnam？
« on: March 14, 2019, 09:05:46 am »
Quote from: bitcrab on March 14, 2019, 07:18:27 am
jademont and I are planning to go to Ho Chi Minh City to attend the Blockchain Summit Vietnam 2019 at 30th-31th this month, if anyone there we can meet. :)

Didn't some guys from Vietnam do a presentation at bitfest? I believe they've setup a local steem fork... Or was it Cambodia? Cant remember

144
General Discussion / Re: Should Witnesses Increase Daily Budget in Coming Protocol Upgrade?
« on: March 12, 2019, 09:16:23 pm »
Roughly...

hardly makes a dent on the 2.7b already out there though...

145
General Discussion / Re: Should Witnesses Increase Daily Budget in Coming Protocol Upgrade?
« on: March 12, 2019, 06:46:18 am »
Quote from: finn-bts on March 11, 2019, 02:20:38 am
Quote from: bitcrab on March 10, 2019, 02:25:26 pm
IMHO, current daily budget is 280K BTS/day, it's not a low figure.

I don't think it's a good idea to fulfill all the proposal/projects，we also need to limit the inflation of BTS.
How many BTS are flowing back into the system's pool each day?

~6-7k

146
Stakeholder Proposals / Re: [Worker Proposal] JavaScript: Atomic Cross-Chain Swaps Framework
« on: February 26, 2019, 07:22:42 am »
Although I like the concept, I can't get past the fact it seems excessively expensive to me.

I will not be supporting this at this cost.

Disclaimer: Multi-chain HTLC support is also planned for Beet so we have done a fair amount of research about a wizard-style implementation. Hence I have a rough idea of the work required.

147
General Discussion / Re: S&P 500, Dow and other indexes as smart assets
« on: February 22, 2019, 03:43:14 pm »
Quote from: btsindex on February 21, 2019, 08:44:33 am
Thanks, akledirs. You're right. That's because of the bitUSD global settlement. The script gets the BTS/USD price from the blockchain. And it doesn't make sense anymore. I'll probably update it later to get the price from the outside. That can trigger the global settlement for INDEXSPX. If anyone knows how to contact babydragon, please warn them about that. That's the only borrower at the moment. Don't borrow the asset until that update!

You can update it to take the feed price from the chain rather than market and/or settlement...should be less code work

148
General Discussion / Re: Review of OMO
« on: February 17, 2019, 07:56:09 pm »
Quote from: Crypto Kong on February 17, 2019, 06:57:40 pm
Under no circumstance should borrowing be allowed.

To keep things simple have you considered setting up a DEXBot staggered orders strategy and using fees to continually top up the balance. This way any gained fees will always stay as orders providing liquidity and also stabalise the market by resisting price change.

Using DEXBot would also remove any decision making from yourself (or any single person) and parameters could be agreed upon by the community.

DEXBot can be ran from a free server setup by the comitee and once parameters agreed all that needs to be done is the account topped up with fees.

I like that...and a good showcase of the DEXbot

149
General Discussion / Re: Review of OMO
« on: February 15, 2019, 06:46:10 am »
Quote from: bitcrab on February 14, 2019, 08:34:49 am
I am considering to restart the OMO fund operation.

I believe that the market fee income should be used in supporting the smartcoin ecosystem. we learned lessons in the past 10 months, so I think we need to update some essential setting of the fund.

first, it will not get BTS through worker proposal, it will only get the market fee of smartcoins for operation.

here are 2 policies for the operation of the updated OMO fund.

Plan A:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is not allowed.

Plan B:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is allowed, but the margin call price of the debt position should always be lower than the global settlement price, anytime the margin called price is above global settlement price, all the available liquidity should be used to reduce the margin called price.

Plan A is conservative, it just buy and sell BTS, do not borrow.
Plan B is a little audacious.

maybe we can begin with Plan A, Plan B is for subsequent discussion.

will be voting for Plan A.

No borrowing so no risk. No worker so daily budget available for workers.

Essentially it's just a market making op/liquidity provider based on those rules which is a great use of the market fee funds.

150
Beyond Bitcoin [closed] / Re: NOBLE/BTS pair - What is going on?
« on: February 14, 2019, 09:54:29 am »
scammers

also had 100% market fee (ie steals all your money)

same guys are behind the fake proposals to replace keys and steal accounts

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