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Messages - Customminer

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1
General Discussion / Re: Economic Abstraction and Network Fees
« on: September 24, 2018, 09:44:28 pm »
The pegging thing can be solved with a program all committee members run that adjusts the fees daily to peg to USD/CNY. Obviously there's hassle in running that program and key safety is a concern as well
After BSIP 40 (https://github.com/bitshares/bsips/blob/master/bsip-0040.md) is implemented, the committee members could potentially create a key for this purpose so as to not risk the rest of their committee account's permissions/functionality.

Such a program wouldn't require a powerful VPS, and perhaps it could be run by one committee member to propose the variable change operation & be manually approved by the committee at their discretion? It'd at least take half the effort out of proposing new fees.

2
General Discussion / Re: Economic Abstraction and Network Fees
« on: September 24, 2018, 01:37:54 pm »
I think fees should still be paid in BTS, however the fees should peg against USD|CNY to be a fixed FIAT value instead of being detached from their intended value when BTS price is volatile (until the committee manually adjusts them). If the committee could set the fee values once then forget about them (until economic policy changes are proposed) that'd be great.

3
General Discussion / Re: Maker Taker Incentive/Fee parameter for Assets
« on: September 17, 2018, 02:50:07 pm »
If it was free to make and cancel market orders, then wouldn't that introduce DOS attack risk - see downloadbot spam a month or so ago for a more expensive stress test that was performed

4
In current situation, I concern more about forced settlements than black swan or global settlements. IMHO forced settlements are needed. For better user experience, perhaps we should match force-settle "orders" with limit orders when prices of limit orders are better than settlement price for the settler.

if then, why not disable force settlement and just let the users place buy orders in market if they want to convert bitCNY to BTS? what's the difference?
The difference is that without force settlement there might as well be no backing collateral, especially if nobody buys your sell order entirely within 24hrs of placing it at/around the settlement price.
It's also possible that the "if" will not happen. If the price of your order is competitive, IMHO it will be filled quite soon in a liquid market. Being able to buy a large amount without affecting the market trading price is a stupid design.

So if the 'if' will not happen, why disable forced settlement at all in the first place? Fractional reserves should not be encouraged due to shorters poor gambling choices - they should be globally settled upon rather than bailed out, as laid out in BSIP 18.

Quote
Alternative proposal - disable (permanently) the following centralized permissions in bitCNY/bitUSD:
White list
Override authority
Transfer restricted
Disable force settle
Disable confidential
This is off-topic.

I disagree, with these permissions available (including 'Disable force settle' as referenced in this topic) there is the risk of malicious actors attempting to abuse such centralized permissions.

5
In current situation, I concern more about forced settlements than black swan or global settlements. IMHO forced settlements are needed. For better user experience, perhaps we should match force-settle "orders" with limit orders when prices of limit orders are better than settlement price for the settler.

if then, why not disable force settlement and just let the users place buy orders in market if they want to convert bitCNY to BTS? what's the difference?
The difference is that without force settlement there might as well be no backing collateral, especially if nobody buys your sell order entirely within 24hrs of placing it at/around the settlement price.

Alternative proposal - disable (permanently) the following centralized permissions in bitCNY/bitUSD:
White list
Override authority
Transfer restricted
Disable force settle
Disable confidential

6
I wouldn't necessarily call this event a black swan anymore. In the past when a global settlement occurred there was no recovery mechanism for this state and thus a black swan scenario would last months. Since mid 2017 we've had BSIP 18 implemented which provides an automated global settlement recovery mechanism: https://github.com/bitshares/bsips/blob/master/bsip-0018.md

When a global settlement occurs you're unable to borrow new tokens (no issuance). You are however still able to trade it on the DEX, transfer it to anyone, settle your MPA for part of the BTS settlement pool, potentially even use it as backing collateral in an L2 MPA, so it's not completely useless in this state.

I would prefer this mechanism occurs than for force settlement to be disabled, heck I'd rather see MCR go to 101% before these centralized flags are triggered at 175%.

Quote
The proposed operation enables potential investors to "bid" additional collateral for taking over part of the debt (or all of it). When enough bids have been made to cover the full outstanding debt, and all of them are sufficiently collateralized (in terms of price feed and MCR), the settlement_fund and the bids are turned into call positions. Finally, the settlement_price is removed from the asset, which revives it.

If the available bids cover more than the outstanding debt, bids with a higher collateral/debt ratio are preferred over those with a lower ratio. The intent is to turn the competition among investors into better collateralized calls, which is in the interest of the MPA holders.

Perhaps we can incentivize investors to participate in the automated recovery mechanism somehow if you don't think it's sufficient in recovering bitCNY?

7
Stakeholder Proposals / Re: [Witness Proposal] fla01
« on: September 14, 2018, 12:17:52 pm »
What are your plans for price feeds? Will you solely publish feeds for committee owned smartcoins, or would you support 'privatized' MPA such as Hertz?

8
There's only a couple more days left to claim your whaleshares sharedrop - the majority of BTS holders thus far have yet to claim their sharedrop  ???

9
*bump* There's still approx 16m WLS unclaimed! https://whaleshares.io/@wls/transfers

BTW for anyone hesitating, there's no export/import of BTS private keys to claim your sharedrop - you just need to acquire 1 WLS and send it to the sharedrop claim account with your personal memo attached & you'll get your owed stake within a couple mins on the whaleshares network!

10
Can anyone explain why whaleshares doesn't have the inflation protection for vested balances that steem has?
Why should I *not* claim the sharedrop, withdraw and sell as quickly as the rules allow?
AFAIK you cannot powerdown until mid october, and the rate of powerdown is affected by the platform's inflation rate.

Yes, that's what I meant with "as quickly as the rules allow".

I'm not sure about inflation protection, do you mean receiving rewards for held stakepower over time?

STEEM pays 90% of inflation into the vested steem pool, which looks like "interest" on vested steem / steem power. Apparently WLS doesn't do that, so effectively vested WLS are losing value due to inflation.
If you don't want the tokens then you're free to sell them as you see fit, I wouldn't let the economic policies get in the way of claiming your sharedrop. I'm sure people would be interested in picking up some cheap WLS on the BTS DEX.

I don't think it's impossible to change the economic policies through future hard forks, but steemit doesn't pay interest on steem power neither, you can only earn with your vote weight through curation rewards, no?

11
Thanks.

Can anyone explain why whaleshares doesn't have the inflation protection for vested balances that steem has?
Why should I *not* claim the sharedrop, withdraw and sell as quickly as the rules allow?
AFAIK you cannot powerdown until mid october, and the rate of powerdown is affected by the platform's inflation rate.

I'm not sure about inflation protection, do you mean receiving rewards for held stakepower over time?

12
502 Bad Gateway
Same, can't connect to this.

Is it going to be open source?

14


FAO Bitshares users: Claim your WLS!

Account creations have been opened to everyone, even if you did not have a Bitshares account that qualified for the sharedrop snapshot on August 1st.

Claim deadline: 15th September 2018

If you miss the sharedrop claim deadline then you'll no longer be able to claim your stake! Make sure to claim your sharedrop before then!

If you need to claim your sharedrop:

  • Make sure you have 1 WHALESHARE token in your Bitshares Account Wallet.
  • Make sure you have at least 0.2 BTS in your Bitshares Account Wallet. (Fee)
  • Go to https://wls.services
  • Follow the instructions provided in the Official Sharedrop Announcement.

If you are not claiming and just want to create an account:

  • Make sure you have 1 WHALESHARE token in your Bitshares Account Wallet.
  • Make sure you have at least 0.2 BTS in your Bitshares Account Wallet. (Fee)
  • Go to https://newacc.wls.services
  • Follow the instructions provided in the Official Sharedrop Announcement.
  • The process is the same as 'claiming with a new account'.

💡 If you don't have 1 WHALESHARE token, you can buy one on the DEX with BTS: https://wallet.bitshares.org/#/market/WHALESHARE_BTS

Related: https://whaleshares.io/whaleshares/@whaleshares/whaleshares-io-and-bitsharestalk-io-main-launch

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