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reducing MCR means we can get more bitCNY supply and make better pegging.

Nearly noone is going to create new debt to go long on BTS during a downtrend.Thats nonsense.You would waste the power of decreasing  MCR.

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GS? we have GS protection, it's not a big problem.

Its a pegg and reputation problem.We lost already enough supporters and reputation on our bitassets.Margins are not really gettin eaten because you took away big part of possibility of arbitrage.
Its like taking debt holders who were not able to decrease risk quickly enough into hostage which may lead into a total loss thanks to the margin call not being eaten.
nder 1 ?

surely users will borrow more, no doubt.

smartcoin lost some reputation because the GS of bitUSD, and because smartcoin is always in shortage, not because GS protection or margin call orders. some margin call orders stay there is not a problem.

太阔怕了

I have two questions:

If I offboarding 1 bitCNY to my bank account, how much CNY will I get?

If I onboard now 1 CNY, how much bitCNY do I get?

This must include all fees in the process.

the deposit/withdraw fee in magicwallet can answer these questions.
you can mail to [email protected] to get API for that info.

Quote from: bitcrab on April 21, 2019, 01:38:30 pm

Quote from: zhouxiaobao on April 21, 2019, 01:11:43 pm

这喂价简直无语了，刚才价格反弹竟然喂价还在跌，充值费率2.3竟然喂价又是比内盘成交价还低，明目张胆的害人啊！！

是的，这问题必须解决。

把所有见证人喂价做到K线图里去，把内盘修正价也做到K线图里去，谁胡乱喂价就会一目了然，投票就可以有理有据。

投票有啥用呢，票都在大户那里。这种喂价，降mcr还有啥用呢，喂价插针秒秒钟爆你。喂价不得低于内盘实际价格必须确定下来。

你还真别不信，只要把喂价的荒唐充分可视化出来，我就可以去挨个说服大户投票，把表现不合格的见证人投出去。

I am considering to push one principle for bitCNY price feed -  price feed should not conflict with DEX price.

exactly speaking, price feed should not conflict with DEX price modified with bitCNY premium/discount.

as shown below, at the time bitCNY has a premium of about 1.7%, so the price feed should be about 0.4069*1.017=0.4138



but most of the witnesses feed a price which is even under 0.4069 at the time, this is killing the bitCNY ecosystem!

爆仓线和抵押线分开没有意义。

爆仓都不算个事儿，没必要防护。

降低MCR就是要增大供应量，如果爆仓线降到1.6，抵押线还保留在1.75，增大不了借出能力，那搞降MCR是吃饱撑的吗？

If we all agree that MSSR should be 0%, MCR at 1.0 and force settlement as high as we can (100%?), we should be able to get everyone creating some bitCNY, but who is going to buy it? I would rather see a bit smaller MCR than non-existent MSSR.

you misunderstood what I mean. I don't forget the basic financial principle.

I don't think MCR can be reduced to 1, in my view, it is possible to go down to say 1.5 or 1.4 and stay there without going down.

MSSR is possible to go to 1, but need step by step.

force settlement offset is not supposed to go as high as possible, I don't think there is a "the higher, the better" logic for this offset, actually, now 2% for bitCNY is as low as possible, as up to now we do not have an always reliable feed price.

I will not support reduce MSSR less than 1.02.
sure we need to keep some profit space for those who help eat the margin call order.
I saw some people want to reduce MSSR because they think feed price is too lower than it should be,
they should try to change feed price instead of change MSSR. there is big different between these two problem.

I agree that price feed problem and MSSR problem are different and need different ways to solve.

but after so long time practice,  I think we should understand more deeply on the margin call rule sets.

first, can we just ragard the profit space for eating margin call orders as same as "MSSR-1"?

No, actually when the debt position is margin called/the collateral is forced to be sold, the profit space for eating margin call/the punishment to debt position owners is there.

even if MSSR = 1.

because if you are provided the rights to buy some volume of BTS at the current market price, don't you think this right worth some money?

the same logic that trader need to pay for American options.

and what we can see clearly is that, either we set MSSR=1.1 or 1.02 does not determine whether the margin call orders be eaten or not, the more important factor is market sentiment.

the disadvantage of high MSSR is that, it benefit more on shorting BTS, and then encourage traders to short BTS.

so my ideas on MSSR setting is, MSSR should be greater or equal to 1, the lower, the better.

for bitCNY, 1.02 is a value that do not lead to "margin call orders not eaten" phenomena, it's time to consider to reduce MSSR more, to discourage shorters, to ensure better pegging.

for bitUSD, 1.02 is a value that margin call orders always stay there without being eaten, so no need to consider to reduce MSSR currently.