While trying to borrow BTWTY

Assert Exception: !_bitasset_data->has_settlement():

What does this mean?

Many people shop with credit cards. Banks issue credit to customers and customers use this credit to shop in different stores. Consumer credit boosts sales. With a minor modification, blockchain like bitshares could be used by merchants to issue credit to customers directly, without no middle men.

Every merchant can identify credit worthy customers. Suppose, such a customer wants to buy a smart phone. The merchant can lean the customer into buying a higher end model by offering a postponed payment. Suppose, the phone costs $500. The merchant gives the phone to customer and issues 500 credit tokens (CRED). The customer  gets the phone and -500 CRED on his balance. The merchant gets +500 CRED which he can sell on DEX for 500 USD. At this point the merchant is even: he gave away one phone and received 500 USD. The CRED has value, because it can be used to buy merchandise from the merchant's shop, and many people would prefer to keep their savings in CRED instead of bank saving account. To pay off his debt and to be able to shop again, the customer needs to buy back the CRED on the market. This removes the CRED from circulation and also insures that they have value.

This is a win-win-win situation. A customer who gets a credit is happy, because he doesn't need to pay upfront, and he doesn't need to pay high interest (perhaps, no interest at all). A merchant is also happy, because postponed payments increases sales of higher end merchandise, and he doesn't need to pay fees to VISA, and he fully controls how much credit he issues, interest rates, prices etc. CRED holders are also happy, because they have a highly liquid asset backed by real merchandise, which preserves its value over time as long as the merchant who issued them is doing good.

Please, discuss.

Is openledger gateway back online after BTC fork?

Which should not be difficult to implement: when updating short position, be able to reduce a debt by entire available balance. For example, if I am 100 bitUSD short and I have 37.8796 bitUSD available, I'd like to be able to update my debt to be 62.1204 without using a calculator. Thanks.

You need to try margin trading at other exchanges to see how screwed is bitshares shorting. I tried shorting at poloniex last night, and now very regret that I did not try this earlier, because it makes so much more sense than shorting in BTS. At poloniex, you deposit 1 BTC, and this allows you to short 2.5 BTC worth of any assets by simply placing sell orders. When your order is filled, BTC which you got from short selling, is added to your initial deposit to back up the debt which you just created. You settle your debt by simply placing a buy order. When it is filled, your collateral is transferred to other party and your debt is settled. This is how margin trading is actually supposed to work. You deposit only 40% collateral upfront, but your position is 140% collateralized.

The guys who coded shorting in BTS clearly had no clue what are they doing. To issue bitAsset, we need to deposit a double collateral upfront, and to settle the debt we need to deposit 100% on top of double collateral. This is ridiculous and defeats the whole purpose of margin trading, which is to trade large amount with small funds. MPA is a very nice concept, which is buried under flawed implementation. Shorting is a central piece of BTS monetary system, but it is totally screwed. This has to be fixed ASAP. BTS shareholders should hire somebody who has expertise in developing trading software, pay them well through worker and let them fix shorting and all other flaws. Before this is done, don't dream about mass adoption, because other exchanges offer much cleaner products.

http://cryptofresh.com/tx/e1aeedb37df58fe044195e39051983819ba24e48

At a time of transaction market price was around 4100.

Suppose, I want to make market for bitSilver. I borrow 1 bitSilver into existence and place an order to sell it for BTS. After this, I can't place sell orders on other markets, Silver:USD, Silver:CNY etc... This is wrong. This removes liquidity from DEX. I should be able to place sell orders for 1 silver on multiple markets, and if one of them is (partially) filled, all others should be automatically updated to adjust to my available funds.

So, I made a back up of my wallet on different devices, but how do I prepare for loss of them? I saved a brain key, tried to recover my wallet using this brain key, it worked. Do I also need to save "active" and "owner" private keys on paper? How do I use them to access to my account in case of loss of wallet file?