When your short order is executed you will be given 30 days until a mandatory cover (without fee) is executed.

This is done to enhance the Nash Equilibrium that will cause shorts to take opportunities to cover at a profit anytime there is deviation from the peg.  After 30 days this will create continual buying pressure on BitUSD.  This will reduce the demand for shorts that are only "long-term" bullish and cause them to be more "medium term" speculators.   If you want to go "long term short" then you will have to cover and re-short monthly.   You maximize your profits by covering and re-shorting when there is the greatest deviation from the peg.

This is in line with traditional financial instruments such as futures contracts that always have a maturity date.   

Older shorts entered before this hard fork will be grandfathered in with a 1 year deadline.   

This also provides liquidity from shorts that have lost their keys and are unable to cover and forces shorts that are losing ground to "re-up" their collateral.

Will the GUI clearly provide the time to covering in our list of open shorts?

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I had a little laugh trying to imagine tonyk believing anybody to be a "precious gem."

I would also love it if tonyk would try to moderate his brash, abrasive style. However, I have to remind myself that he's the only one who can control his own reputation and if he wants to be a loudmouthed fighter, so be it. The reality is that he's not dumb, his opinions do usually have solid merit, and he seems to be here for the same reasons as the rest of us.

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Quote from: gamey on September 25, 2014, 04:51:29 am

...If you are allin on btsx or whatever, then you don't want to divest into bitNXT.  You are exposed to btsx issues without owning NXT...

I agreed with you at first, but then I thought, "Isn't that true of any BitAsset?". I suppose there is the fact the BitShares ecosystem and NXT are in relatively close competition, so we could have one failing whilst the other succeeds. Then you'd be absolutely correct!


On the other hand, some may believe that BTSX will continue to work well (and want to support the DAC), but also fancy hedging with NXT. Some may even fancy a small bet on the possibilty of NXT outperforming BTSX!

Part of me thinks "what could the harm possibly be in more bitAssets sooner?" But it does cost the delegates transaction fees to publish feeds. Am I right in thinking that if there are 101 trades per average delegate feed publishing period, that on average the delegates would make money? Should be a pretty simple analysis.

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Does nobody else see the bid overlapping with the short wall?

Quote from: biophil on September 25, 2014, 08:33:27 pm

Quote from: tonyk on September 25, 2014, 08:28:36 pm

Quote from: biophil on September 25, 2014, 08:25:32 pm

None of this explains why my bids weren't matching the short wall.

agree! it does not.

Try again I have some bitBTC for sale right now.

My bid just went in above the short price, highest collateralization is 30,000. Apparently not matching.

13,495.28 will not cut it... try something >= 13,510
[edit] you are on 0.4.17 right?

But I don't want to match the ask, I want to match the short.

Yeah, 0.4.17.

Quote from: biophil on September 25, 2014, 08:21:51 pm

Quote from: tonyk on September 25, 2014, 06:05:55 pm

Quote from: biophil on September 25, 2014, 05:51:29 pm

Hmm... What range are you talking about? Is it a range of valid collateralization? I wonder if that could be it. The top short has a collateral ratio of 20,000 BTSX/BitBTC, but 1.5x13,518 is greater than 20,000. So that would mean that every short in the order book is currently invalid until the price of BTC falls a little more.

I think this 20,000 BTSX/BitBTC is just the collateral that person trying to open a short position provides (i.e. does not include the proceeds of the bitBTC sell), partly because the sell price is unknown...

Is there a lower bound on the allowable collateral? so if the price is 13,333, could you short at anything less than 20,000?

@ 13,333 the min will be 13333 BTSX

Ah, because the sale proceeds are 13,333 and those are also held as collateral, so you have 200% collateral after the sale. Thanks.

None of this explains why my bids weren't matching the short wall.

Hmm... What range are you talking about? Is it a range of valid collateralization? I wonder if that could be it. The top short has a collateral ratio of 20,000 BTSX/BitBTC, but 1.5x13,518 is greater than 20,000. So that would mean that every short in the order book is currently invalid until the price of BTC falls a little more.