when collateral rate of bill  went into for example  ≤150%  bitAsset can start settlement
but when all collateral rate is enough   for example ≥200%  no need to  settlement


bitUSD lack Acceptance dealer    for example 1.1USD sell bitUSD at the same time  1.09 buy bitUSD
provide liquidity & make profit

Quote from: sudo on November 29, 2015, 04:38:33 pm

抵押bts借出bitCNY肯定是为了使用。不用的话，去抵押干嘛呢？

抵押后使用，这是杠杆做多
杠杆交易如果涨了，你可获得更多的收益，同样你要承受更多的风险
风险和收益并存

那如果抵押率 最低的一个都200%+ 凭什么就能强制结算呢？
虽然现在抵押借bitCNY bitUSD的不用给利息了。
除非设定一个抵押率危险区，此区间的可以被清算，除非补充抵押物，或者降低债务，这样才合理。

Quote from: Xeldal on November 29, 2015, 05:54:12 pm

Quote from: btswildpig on November 29, 2015, 05:29:30 pm

Actually , BitCNY holders can get a fair price anytime now at BTC38 .
I suspect BTC38 forget to update their English version page , the Chinese version page already says "it accepts no more than 50,000 BitCNY deposit every day directly turn into CNY balance on a 1:1 ratio  ."

It's a more fair price than what you would get in the DEX because the DEX would never give you 1:1 price considering you actually need to sell your BTS at a unfair spread to get the fiat value you need .

So maybe now you can understand how transwiser is providing a peg that merchants would actually use  , unlike the status with BitUSD .

Last time I check , no exchanges accepts BitUSD as deposit , most of them only provides a market place to trade with .

Thats good.  I'm glad to see it.  Does BTC38 also convert 1:1 CNY to bitCNY?  I bet not, and if they do, probably not for very long.

That should be profitable for BTC38 as bitCNY should always trade above par and they can make the difference.  Depending on the bitCNY=>BTS=>CNY conversion and liquidity as you mentioned.

I'd like to see some bitUSD=>USD 1:1 services , that's an easy trade for near guaranteed profits.  I've considered doing this myself on a very small scale but I don't want to mess with US regulation I don't fully understand. 

It would make more sense for an exchange to do it.  Perhaps we'll see this at CCEDK soon.

They sell all their BitCNY to transwiser 1:1  .

 

the key is a bitCNY holder can buy any volume at the same price.
imagine bitCNY can peg at rate 1:1 now
1. somebody collect 200K bitCNY first
2. ask for settlement
3. after about 22 hours, before the settlement be executed, he sell 200K CNY at BTC38, maniuplate the price down
4. waitting the settlement execute

if exchange like BTC38 do this, it's more easy.
shorters will found, they always be sold at a low price
it's not because they are unlucky, it's because the stupid rule.
this will loop again and again, until all bitCNY short position be settlement and no more stupid shorter continue the game.

 

 
  Why a shorter short?
   
  obviously because he judge that something is overvalued.
   
 in BTS term shorter refer to the users who judge that fiat is overvalued, on the contrary, BTS is undervalued, so they short BitAssets, they hope when the BTS price rise up they can sell their BTS to get BitAssets back to cover the short position, and then make profits.
   
 shorters bear the risk of being margin called.
   
 so the basic logic for shorters is that he can hold his collateral when the collateral ratio is sufficient and wait for the price change.
   
 now you make the force settlement, which means anyone can get the collateral from the shorters at the feed price, no matter how high his collateral ratio is.
   
 isn't it robbery? when BTS price is low, speculators can get BTS by force settlement as they will, they can even supress the BTS price in external exchange to lower the feed price to make them even better conditon to rob BTS from shorters.

   trade logic should be, you can ask to buy, but I can refuse to sell, even the leverage contract only get settled in some special conditons, now you enable any one can force settle any time. why be so cruel to shorters?

   you said force settlement is not new, it comes out for long time. anyway, in 1.0 there is no such force settlement, but many shorters's conditions are inherited from 1.0, shouldn't you be more cautious when it's possible to hurt a group of users?

now let's check what force settlement will bring to the market.

in BitUSD market the BTS price is always lower than feed price, we can forsee that seldom force settlement will happen.

in BitCNY market as now force settlement is well known, BitCNY will be priced much expensive than CNY, suppose 1.05 CNY, transwiser paused the deposit business, and no one will use BitCNY to deposit to BTC38.

for pegged asset it's important to peg well, just get a price floor will make no sense, if 1 BitCNY always worth 1.05 CNY, no merchant would like to use it, they won't list 2 different prices for one single goods, one for CNY, the other differnent for BitCNY. and if the merchant just regard BitCNY as same as CNY,  who want to pay in BitCNY?

force settlement will bring chaos to the well organized BitCNY ecosystem, and do good only to speculators.

let me repeat my suggestion: please make force settlement an asset-specific feature, and committee can decide to which asset the feature will apply, then for example we can enable this feature for BitUSD and disable it for BitCNY,  by doing so we can also compare the behavior of these 2 MPAs to analyse what force settlement bring to the market and decide further.

 

Hi Cob, I appreciate you talking us through your strategy.

1. Can you please tell us how many full time developers you have working on this project inside and outside of CNX? That's Jaran's question in another thread I thought was important.

2. Could you tell us a bit more about the client being developed by Moonstone in terms of progress, look and usability?

3. Would it be possible to get more frequent updates, even if they are brief in the forum? We all you know are incredibly busy, but just something small is a big help.

4. How do we prevent 30 Michael Jordan and Journey type UIAs popping up at launch? Could you explain more how to verified account process will work?

From the FAQ "Anyone can upload audio files to PeerTracks but only those that have proven their identities can monetize their PeerTracks account"

5. How do ordinary bands and other entertainment areas easily get money into the system to create their tokens? I'm guessing it will work with the gateways and bridges that are in openledger? Will we help subsidize that initially to get the ball rolling for bands?

6. Would you be willing to do a Beyond Bitcoin to talk through these changes?

7. On the music side, will you talk about how tokens will eventually allow the fan to take a percentage of song sales upfront in the new model? If not, what are the incentives to get people to use the system without the music being ready? It sounds like a trading pokemon type approach initially?

8. Will every artistcoin be able to trade with any other artistcoin?  If so, how do you plan to streamline that in the interface? Will artistcoins be able to trade against other media types?

9. Will each artist be able to create one set of token rewards or different categories? Example, my band The OhYeahs wants to issue rewards for everything from showing proof of 100 tokens for access to a demo song to charging 300 tokens for a ticket to our concert.  Is it the same token?

Unless something changed, I think I found the answer from an August 12th post

"But yes there are use cases to having multiple types of UIAs. Just not going to list them all or offer the service from the PeerTracks website.
MUSE allows it all though."

10. Can bands charge tokens rather than just request proof? Will bands be encouraged to hold a portion of their tokens? Can they modify the supply once it's issued?

11. Could we get a short and long term roadmap based on this new direction?

12. You requested help contacting exchanges. Do you have a plan to offer any type of bounties or would someone need to create a worker proposal in the system to work on specific areas of the project?

13. In another thread I asked about the March SXSW strategy. Could you please talk a bit about that strategy?

14. Could you tell us more about the testing going on with artistcoins? How many bands are working through the interface? What type of results are you getting?

15. Is there anything shareholders can do with podcasts, magazines, music websites to help? Is there a preferred media contact email?

16. Although the target market isn't crypto, I can see some benefits attracting communities such as Doge. Will we be able to setup some type of bridge or maybe it's a gateway to allow them to spend their coin to get access to purchasing artistcoins? 

17. I found this comment on the Peertracks Reddit. Is this feature still planned? So much potential, reminds me of the porn show model.

"Say a podcaster want's 40$ per episode, well he can simply put up a 40$ unlock limit. People can chip in pennies at a time, or some dude could decide to throw up the entire 40$ because "screw waiting" and unlock the file for all."

18. Will Muse holders have acess to Prelude any time soon? Should we recommend bands that we know to the Prelude system or do you have enough bands to run the initial tests?

19. Will Peertracks provide any type of templates for Facebook, Twitter, forums so that it makes it easier for people to promote their favorite bands, driving traffic back to Peertracks?


I've been reading through the FAQ, listening to any podcasts I can get my hands on and digging through posts. The minute I came across this, I thought it was one of the most brilliant ideas to expose the world to blockchain tech in a fun, 18-34 target audience. It might be the real first crypto based project that attracts the female demographic. I'm only asking these questions to get a further understanding and to offer any feedback/assistance possible.

 

Quote from: Xeldal on November 27, 2015, 06:41:41 pm

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.

A peg without a price feed(AKA. The original idea of the BitShares whitepaper at 2013 ) was thoroughly discussed and understood long prior to PTS and AGS and was a critical feature .
BitUSD and BitCNY have different value just because "it's called BitUSD or BitCNY" .
People gave millions of dollars to BM base on his word "The marker will come to a peg , no price feed was needed" .  It too was thoroughly discussed .

And so what ? It turned out the so called thoroughly discussion was based on faulty understanding of how a financial system works .
After BTS was released last year at August , The peg come online , and guess what ? It didn't work . A price feed was introduced finally .

(another side note : When we thoroughly discussed BTS2.0 , it said "all the dilution can vest for years , no fear of dilution on the market anymore .....and then when it comes to worker proposal , we finally understood "the function is there , we just don't use the option , instead , due to reality , we have to dilute to sell now ....... "" )

(Another side note ： The merger was thoroughly discussed , BM must have thought all the possible outcomes . But I doubt he could have expected that BTS will become less marketcap than Doge in the market .")

So ....don't tell me about thoroughly discussed ..... We can't thoroughly discuss something that even BM and the rest of the community were no experts at it to begin with , or until the symptoms manifests .

 

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