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General Discussion / Re: Committee Proposal: Urgent call for help by the Chinese Community
« on: November 28, 2015, 07:38:09 am »The urgent crises is that we have many committee members gone wild, who do not understand the system they are representing.
The other urgent crises is that we continue voting for these committee members who consistently demonstrate they don't have a clue how things work.
Settlement is not a loophole, and is nothing new. Its been available since the begining. it was thoroughly discussed and understood long prior to BTS2 and is a critical function.
Any available arbitrage opportunity is due to improper pricing of bitCNY by its users/gateways etc. If transwiser is taking a loss they need to adjust their pricing. We do not need to change the entire design of bitshares markets to fit 1 gateways uninformed business model.
There is no need to disable the settlement. If it doesn't already, forced settlement should take all available bids below the feed before pulling from the least collateralized shorts.
how can you be so fucking stupid?!
I have heard the word "force settlement" at the BTS2.0 announcement, however there is no detailed doc to describe how it works, my 200k cny short position comes from 1.0. when 2.0 firstly come, I think it a big improvement that the monthly settlement is removed, but finally I find things are even worse.
actually when the feature is in development, alt has objected it in discussion, but no one care.
considering also the increasing SQR from 1100 to 1500 issue, many shorters are robbed at a moment, why BTS team alwasy be so cruel to shorters, do you decide to drive the shorters away?
do not make money is not a problem, being margin called because of insufficient collateral is not a problem, but if any time another one can force you to sell your BTS to him in a "fair price", that is a big problem, not only that no matter how you refined the price feed script the feed price will always diverge from the market price now and then and provide chance to speculators, but also this kind of settlement will make it no sense for the shorters to short.
I completely believe that BitCNY does not need such a force settlement feature, so if possible i'd like to suggest to make the force settlement an asset-specific feature, and disable it for BitCNY. and then you can do what you like to BitUSD.