zulus2938
dhetra9283
Most of the USDT come from openledger-wallet and openledger-dex
not one person
It's not the USDT that matters, it's the bitUSD that matters. OpenLedger is only a gateway.
The trader sells BTS for BTC at Poloniex and then sells BTC for USDT, then deposits USDT to the Dex via OpenLedger. To implement the loop, need some people to sell bitUSD to him for USDT.
3M BTS can dump the price down 5.6%, so perfect.
It looks like a flaw in the design of MPA that it's possible to dump 3M BTS to trigger margin call of 30M of BTS. My solution to this flaw was BSIP42: do not trigger margin calls when it's "unfair", either by reducing MCR or by feeding higher price. However, in a down trend, this solution may increase the possibility of a black swan event, which is again decided by the trading price regardless of liquidity or volume thus suffers the same flaw. On the other hand, it's hard to judge what's "fair", whether the reason to "protect" the debt position holders is strong enough.
Obviously, there is lack of incentive for traders to buy BTS. We need to attract capital to buy BTS, which is the only way to prevent the price from dropping. So the question become: what are the reasons for people to buy BTS or to hold BTS? How to value the BTS token, and how to add value to it? On this topic, I wrote some thoughts recently:
*
https://github.com/bitshares/bsips/issues/194*
https://github.com/bitshares/bsips/issues/191