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General Discussion / Re: how about to optimize the parameters of bitCNY like this?
« on: May 01, 2016, 06:41:36 pm »You cannot make sure that every holder of bitassets will notice.
The settlement function is the "guarantee" that holders can exchange their bitassets for the equivalent worth of BTS. Bitasset holders have bought under the assumption that this guarantee will hold. Now you want to reduce that guarantee from "equivalent worth" to "99% of its value", which will automatically devalue the affected bitassets and effectively rob bitasset owners of 1% of their holdings.
IMO we're going to lose all credibility if we start changing the rules in mid-game.
in 0 offset setting, the holder is ok but the shorter is always hurt. why should the holder have power to force the shorter to sell BTS to him without any compensation? the 0 offset setting discourage shorting, means it discourage bitasset supply.
this is not changing rules in mid-game, the design of BTS2.0 set the committee mechanism for parameter change, now and then there are necessity to review some parameters and make necessary change, a reasonable change with good notice work will benefit the whole economy.
in China community - the main area that use bitCNY - bitCNY is accepted well, but always the supply is not enough, considering there will be more assets be traded in DEX, the supply of bitCNY is far from enough, this change mainly intent to encourage shorting.
I'll check and draft a BSIP.
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