BitShares Forum
Main => General Discussion => Topic started by: liondani on October 23, 2014, 08:18:05 pm
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"Somehow an evil cover has snuck its way past our defenses." Message I saw after trying to cover one of my "Open Margin Orders"
I had 3 open margin orders before the last fork for a total for about $1000 and I did not cover before the hard fork !!!
I really thought it was ok since I understood I must cancel only my "Open Short Sell BitUSD Orders" , which I did,
and not the "Open Margin Orders"... Please tell me we can fix that !!! I will not manage to loose more money this last 3 days :-[
(http://2.bp.blogspot.com/-qAbgiw-z8QY/VElh_fIBUzI/AAAAAAAADMQ/3MxOL8VBWhM/s1600/evil_shorts.png)
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Team is looking at it.
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Team is looking at it.
(http://www.worldprayercenter.org/wp-content/uploads/2012/01/pray.jpg)
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It will be ok.. they have it sorted out.
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Was that an error message you coded in there?
Lol.
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It will be ok.. they have it sorted out.
(http://thumbs.dreamstime.com/x/man-jump-freely-20605067.jpg)
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Does it really say:
"Somehow an evil cover has snuck its way past our defenses."
:)
Sounds like the jokes I put in my daughter's computer class project when I am left 'helping' with them...
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Was that an error message you coded in there?
Lol.
I think that was Nathan... the error is a bug in upgrading old cover positions. The fix was "easy" and will be released shortly.
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It will be ok.. they have it sorted out.
(http://thumbs.dreamstime.com/x/man-jump-freely-20605067.jpg)
Good catch liondani; we will have 0.4.22 out shortly as a required upgrade. This was an issue grandfathering in old margin positions (they get a 0% interest rate so everyone knows).
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Still problem to cover open margin orders !!!
New error message: "Rejecting cover order with invalid interest rate" !!!
(http://2.bp.blogspot.com/-wGDS3mEsXNo/VEpAv183B4I/AAAAAAAADMg/cmXabydif4w/s1600/evil_shorts2.png)
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Yes, this is expected behavior until the softfork occurs later today. After that point you should be able to close your pre-interest margin position, but not before. This is to allow all delegates time to update; otherwise, delegates still on .21 will reject blocks which allow the cover.
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FYI
block 828000 to appear at approx
UTC time: 2014-10-24 16:10:10
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thanks all ;)
https://github.com/BitShares/bitshares_toolkit/issues/875
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I have covered one $100 "open margin order"
BUT I did not received my expected collateral back !!!!
I have shorted all my orders for about 120-130 collateral ratio (it was the max collateral ratio at time)
because I wanted first priority for my shorts.... That means for the $100 cover I should receive at
least 50,000 BTSX more back and not 17,072 as I have ! I assume I have received only 3x the standard collateral that is needed from now on for the new short orders after the fork. But that was not the case with my orders that was taken before the fork.
(http://3.bp.blogspot.com/-Syw6DxH4Dts/VEuo255G98I/AAAAAAAADNA/MzrBTg7ZLIE/s1600/margin100_fee2.png)
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nathan answered on git hub
... so the second "issue" was in reality my misunderstanding about the collateral ratio... sorry
nathanhourt commented an hour ago
I think you are misunderstanding the meaning of the old collateral ratio. You say you placed this short with a collateral ratio of 125, and you short sold $100. This means you sold $100 collateralized at 125 BTSX/USD, which means you put up 125*100=12500 BTSX in collateral. The margin position is around 4 days old, meaning when it was created the trading price was a little over .02 USD/BTSX, so when $100 were purchased from your short order, the long would have paid at most 100/.02=5000 BTSX into your collateral position, which when added to the 12500 BTSX you put in means we should expect your total collateralization to be less than 17500 BTSX, not 50000 BTSX. When you closed the position you received about 17000 BTSX back, which is exactly what would be expected.
https://github.com/BitShares/bitshares_toolkit/issues/875
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SOLVED :) :) :)