BitShares Forum
Main => General Discussion => Topic started by: cryptosile on January 19, 2015, 02:30:47 am
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Forced cover doesn't happen until a short falls below 150% collateral. I had an open short myself that was at 164% collateral. 60 USD short, with a BTS collateral of about 98.4 USD. I believe the forced margin call would happen at 150% a.k.a. 66% of collateral, but I've not seen a forced cover on any of my personal transactions.
https://github.com/BitShares/bitshares/blob/master/libraries/blockchain/market_engine_v7.cpp (https://github.com/BitShares/bitshares/blob/master/libraries/blockchain/market_engine_v7.cpp)
auto call_collateral = collateral;
call_collateral.amount *= 2;
call_collateral.amount /= 3;
So, call collateral is when 2/3 (66%) of total collateral. Which is the same thing as saying 150% (3/2) collateral.
I'm not 100% sure this is the correct line but it would be nice to know exactly where this is controlled. It looks like it maybe referenced in more than one place.
I think it's important to get this right as ByteMaster and others references the 200% number fairly often. Here is one:
http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/
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I thought this was part of the relative feed hard fork but apparently not... added now
https://github.com/BitShares/bitshares/issues/1273
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So, you are saying that in an upcoming hard fork this will change to 200% ? Was there a discussion around this somewhere I missed?
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I'm saying that's what I *thought* was going to happen. I was told about this before and thought it was handled. I made a new issue.
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I think the margin call did not execute because there is no bid order up feed price.