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Messages - EstefanTT

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1
General Discussion / Re: How were the BTWTY tokens issued?
« on: February 09, 2018, 09:42:23 pm »
Right now there is no short position that could have been margin called, because the asset is still in black swan state.

It will be revived when either the BTS price increases so that the value of the settlement fund is higher than the collateral requirement for the existing BTWTY, or when an investor shows up and creates a bid for the missing collateral.

With 1.016 BTWTY currently in existance, a price feed of 576133 BTS/BTWTY, MCR of 175% and a settlement fund of 352693, an investor would have to offer this amount to get it revived:
1.016 * 576133 * 1.75 - 352693 = 671672 BTS

That's a lot of money. (And he'd be in danger of being margin called quickly, unless he'd put in even more.)

[member=32961]EstefanTT[/member] you really should remove the override_transfer permission, or explain what you need it for. Doesn't look good.

I understand the concerns. I will disable it next time I update the smartcoin (in the next days). My intention is to provide a decentralised crypto fund with no need to trust me or anyone else. Obviously, this permission is not aligned with my intention.

If possible, I would prefer further questions in the Telegram group Bit20. We are 350 users now. I don't visit usually this forum and can't answer your questions as promptly as I would like to.


https://t.me/bittwenty




2
General Discussion / Re: How were the BTWTY tokens issued?
« on: January 14, 2018, 12:31:07 pm »
Thank you for the explanation. So, how can I determine for a specific asset if it was completely borrowed into existence or if some of the supply was issued by some centralized individual or organization?

Furthermore, in the BTWTY page (https://wallet.bitshares.org/#/asset/BTWTY) the asset is listed with the permission "ISSUER MAY TRANSFER ASSET BACK TO HIMSELF". So it seems that the individual who controls the issuing account (in this case estefantt) is able to just transfer the assets back to himself as he wishes. Is there a good reason that this permission flag is enabled? It seems that most other assets (HERO, BitUSD, ...) have this flag enabled as well. In the case of BitUSD the issuer is the committee-account, so that I assume that it is much harder to make use of this permission. But in the case of BTWTY and HERO, it seems that it makes the asset completely centralized and controllable by the one individual who is listed as issuer. Am I missing something here as well? Thank you.

Hi, I 'm the founder of Bit20.

To understand fully the mechanics behind Bit20 I recommend to read the following webpages:

Website : http://www.bittwenty.com
Market : http://cryptofresh.com/a/BTWTY
Bitshares smartcoins : https://bitshares.org/technology/price-stable-cryptocurrencies/

Here you'll find the latest news.

News : https://steemit.com/@blocktivity

There are a big difference between permissions and flags. Permissions are possibilities, flags are real. I leave all permission as standard but I only have 2 active flags : "Charge market fee" and "Witness fed asset". You can see them here : http://cryptofresh.com/a/BTWTY

For any further questions, I would prefer if we use the Bit20 Telegram channel. I'm more reactive there. I only check this forum from time to time.

Telegram group : https://t.me/bittwenty

3
General Discussion / Re: How were the BTWTY tokens issued?
« on: January 14, 2018, 12:19:50 pm »
They were shorted/borrowed into existence until global settlement happened. BTWTY suffered from black swan event along with some other assets. After black swap recovery was implemented, some assets were revived but BTWTY is still down. It looks like witnesses lost interest in producing price feeds for it. Yes, BTWTY was created by an individual. Everybody can create a bitasset.

I have 3 witnesses publishing the price feed at the moment. The problem comes from the collateral. It's not reaching 175% of the whole supply of BTWTY. Thus, you can't borrow at the moment. BitShares just need to rise a little more and the market will be completely operational.

I'll ask for more witnesses as soon as the borrowing function is back.

4
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: August 21, 2017, 09:37:06 pm »
Steemit is by far the brightest social and blockchained-based platform out there. I would suggest anyone to have a look if you still don't know it.

As the blogs look much better and professionals on Steemit platform than forums, from now on, I will post the revisions and other Bit20 announcements there. I'll leave this forum open for questions, debate or any other kind of interactions.

Here is the link to the official Bit20 announcement Steemit channel: https://steemit.com/[member=32961]EstefanTT[/member]

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Noticed that we have opened a telegram channel if you want to be closer to the Bit20 community ;)

Telegran link : https://t.me/joinchat/BdGiiAyHOiLHs4oiHqV2Kg

5
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 28, 2017, 08:23:45 pm »
We've finally managed to understand where the black swan came from. You'll find all the information about it in the Steemit blog we've just posted.

https://steemit.com/bitshares/[member=32961]EstefanTT[/member]/bit20-has-experienced-a-black-swan-what-is-it-what-caused-it-and-what-are-the-consequences

Noticed that we have opened a telegram channel if you want to be closer to the Bit20 community ;)

Telegran link : https://t.me/joinchat/BdGiiAyHOiLHs4oiHqV2Kg


6
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 26, 2017, 08:50:07 pm »
Thanks for the investigation Wackou, so am I correct in saying that if the price feed had more witnesses for this asset and if the price feed is an average of witness feeds, this can help reduce black swans in future? Although such a sharp divergence in feed pricing likely still would black swan the asset even with twice the amount of witnesses correct?

The problem comes from the fact that we only have had 3 witnesses with 2 different version of the script providing the price feed.
It was necessary because we were in the testing phase and we had to make some change since the market inception.

The solution is a system the check the coherence of the new PF with the previous one, more witnesses and different scripts. This is what we will have when the market will be relaunched.

7
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 26, 2017, 08:46:00 pm »
Complete BTS noob here, but can someone provide a link to the net asset value (or current premium) that BTS is trading to the underlying coins? Also, id there a history of this premium available somewhere. Many thanks.




[/center]

All the info you are asking is on the BTWTY : BTS market in the BitShares decentralised exchange.

https://bitshares.openledger.info/?r=estefantt#/market/BTWTY_BTS

8
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 21, 2017, 02:03:45 pm »
Bit20 - The cryptocurrency index fund [2017/07/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 45802864660 USD / 10 % / 1.3729080571151 coins / 2782.75 USD
ETH / 21004746485 USD / 10 % / 16.993825805106 coins / 224.814585 USD
LTC / 2329412021 USD / 10 % / 85.431272535297 coins / 44.7196885 USD
ETC / 1488458592 USD / 10 % / 240.6244783362 coins / 15.87727035235 USD
DASH / 1386652697 USD / 9.6908906808352 % / 19.860450223695 coins / 186.419032726 USD
XEM / 1372267347 USD / 9.590355878893 % / 24030.020904655 coins / 0.1524741496 USD
MIOTA / 806183302 USD / 5.6341679970041 % / 7421.3523096666 coins / 0.290043 USD
XMR / 600317850 USD / 4.1954374521395 % / 39.545834399725 coins / 40.5314511 USD
STRAT / 512680669 USD / 3.5829680555235 % / 262.91802219672 coins / 5.2064083132 USD
BCC / 419175256 USD / 2.9294873841125 % / 16.090153636757 coins / 69.558 USD
VERI / 409717046 USD / 2.8633868534283 % / 5.2585441855467 coins / 208.032 USD
QTUM / 407485920 USD / 2.8477941976697 % / 136.17011840017 coins / 7.98992 USD
EOS / 400728396 USD / 2.8005679336608 % / 615.10047493905 coins / 1.739465 USD
ZEC / 371173836 USD / 2.5940201724948 % / 4.7612325628377 coins / 208.146733172 USD
ANS / 367054750 USD / 2.5652331429687 % / 133.5001160786 coins / 7.341095 USD
BTS / 353766437 USD / 2.4723651963701 % / 6934.062861147 coins / 0.1362198796 USD
STEEM / 326337322 USD / 2.2806715188457 % / 634.87244499065 coins / 1.37243538325 USD
WAVES / 321447500 USD / 2.2464980516515 % / 267.00023215721 coins / 3.214475 USD
ICN / 267928500 USD / 1.8724701645896 % / 267.00023215721 coins / 2.679285 USD
BCN / 262378844 USD / 1.8336853198129 % / 489017.8276222 coins / 0.0014325697 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



Stop hesitating and start trading on the Bit20 market !!!






9
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 21, 2017, 01:21:48 pm »
Bit20 index is currently screwed by wrong data:

Quote
XEM   Quantity: 24030.020904655;   Price in USD: 186.419032726;   Value in USD: 4479653.2534313

The price feed is currently wrong and  this caused a bunch of margin calls.

The problem seems to have come from 2 witnesses. They have published a price feed twice as big as the previous ones causing not only margin calls but a black swan event.
I will contact them and try to understand what happened.

Luckily, if I'm not wrong, a worker proposal has just been voted in to reactivate markets having suffered a black swan.

10
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: July 21, 2017, 01:16:42 pm »
[member=32961]EstefanTT[/member]

It is unfortunate that btsbots provide incorrect price feed for bit20. This makes the use of bot for bit20 very difficult. If you could collaborate with [member=4465]alt[/member] to help him fix this, running bot on bit20 would be sweet.

I will contact him

11
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: June 21, 2017, 03:21:08 pm »
Bit20 - The cryptocurrency index fund [2017/06/21 - revision]


 
On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.
 
We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:
 
BTC / 44542132746 USD / 10 % / 1.9061466095515 coins / 2715.8 USD
ETH / 33003336242 USD / 10 % / 14.530392547647 coins / 356.267936 USD
LTC / 2397237239 USD / 10 % / 111.50421557899 coins / 46.4261636687 USD
ETC / 1979316830 USD / 10 % / 242.64982149599 coins / 21.3340893074 USD
XEM / 1845980243 USD / 10 % / 25238.849025675 coins / 0.2051089159 USD
DASH / 1390507483 USD / 7.9316982800247 % / 21.772912995834 coins / 188.583518 USD
BTS / 836220873 USD / 4.7699503535105 % / 7666.3167389237 coins / 0.322092925 USD
XMR / 733386040 USD / 4.1833624508888 % / 43.27768963159 coins / 50.0397937356 USD
STRAT / 726382700 USD / 4.143414172644 % / 290.65727715955 coins / 7.3795729682 USD
ZEC / 628094847 USD / 3.582763040508 % / 4.584192533031 coins / 404.5845749 USD
GNT / 548560810 USD / 3.129086960236 % / 2448.6880851165 coins / 0.6615127964 USD
BCN / 566387452 USD / 3.2307732491764 % / 540491.71858338 coins / 0.00309436485 USD
SC / 519890746 USD / 2.9655478925955 % / 79904.719168308 coins / 0.0192126202 USD
WAVES / 511334500 USD / 2.9167415664798 % / 295.2887762246 coins / 5.113345 USD
STEEM / 498055930 USD / 2.8409982769845 % / 693.03578728719 coins / 2.1221173388 USD
ANS / 417700750 USD / 2.382638253188 % / 147.6443881123 coins / 8.354015 USD
XLM / 381851379 USD / 2.1781471607078 % / 28786.277936949 coins / 0.0391702 USD
LSK / 363268932 USD / 2.0721496276412 % / 320.52465335415 coins / 3.346676683 USD
ICN / 295019175 USD / 1.6828410573335 % / 256.9012353154 coins / 3.391025 USD
DOGE / 348847571 USD / 1.9898876580814 % / 324451.39928504 coins / 0.0031749215 USD
 
The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed
 
You will find on the website the composition with the updated price of each coin and the total value of the index
 

 
Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange
 

 
Stop hesitating and start trading on the Bit20 market !!!

 




12
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: May 21, 2017, 04:34:09 pm »
Bit20 - The cryptocurrency index fund [2017/05/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 33466725332 USD / 10 % / 1.3560949564735 coins / 2047.895 USD
ETH / 11377850088 USD / 10 % / 22.402660303053 coins / 123.9647454061 USD
XEM / 1987540515 USD / 10 % / 12575.472318352 coins / 0.220837835 USD
LTC / 1382715584 USD / 10 % / 102.82128131986 coins / 27.009389936 USD
DASH / 725308576 USD / 8.5034181874375 % / 23.794811670675 coins / 99.2450951061 USD
ETC / 655379046 USD / 7.6835739764117 % / 298.94180280172 coins / 7.137965 USD
XLM / 517353271 USD / 6.0653787360591 % / 31141.759425676 coins / 0.05408945 USD
XMR / 499540382 USD / 5.8565428704628 % / 47.191958490703 coins / 34.4644309352 USD
BCN / 437629790 USD / 5.1307115878504 % / 595554.65992168 coins / 0.00239251 USD
STEEM / 277727491 USD / 3.2560389829456 % / 760.23611010903 coins / 1.18943 USD
SC / 249203834 USD / 2.9216315435029 % / 85067.716440735 coins / 0.009538025 USD
BTS / 222005577 USD / 2.6027629117326 % / 8470.0114148986 coins / 0.0853391672 USD
DOGE / 205890538 USD / 2.4138324064853 % / 356364.47325837 coins / 0.001881094 USD
GNT / 205929879 USD / 2.4142936349693 % / 2685.6849971206 coins / 0.2496507084 USD
GAME / 205699490 USD / 2.411592585957 % / 204.41014892712 coins / 3.2764177632 USD
GNO / 199808181 USD / 2.3425236878961 % / 3.5964135044609 coins / 180.889 USD
STRAT / 194427340 USD / 2.2794394465992 % / 320.35403935923 coins / 1.976039591 USD
REP / 191425862 USD / 2.2442505305172 % / 35.814690065416 coins / 17.4023510701 USD
MAID / 165105928 USD / 1.9356792370382 % / 1473.4567627467 coins / 0.3648327205 USD
WAVES / 165332000 USD / 1.938329674135 % / 325.58809111446 coins / 1.65332 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



Stop hesitating and start trading on the Bit20 market !!!






13
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: May 21, 2017, 04:19:05 pm »


On the 21st day of every month ...


I strongly suggest not include BTS in the Bit20 index forever, otherwise no one will short Bit20. [member=32961]EstefanTT[/member] and you should announce In the website.

There is already a lot of markets trading against BTWTY. Part of these coins will be in the index itself but it's not a problem. The coins in the index can't have a big impact on it, the maximum you could have is 10% weight in the index.

If we would remove BTS from the index, we should also remove these coins :

BTWTY : BTS
BTWTY : OPEN.ETH
BTWTY : OPEN.STEEM
BTWTY : OPEN.BTC
BTWTY : OPEN.DASH

BTS price can indeed influence slightly BTWTY, so does the others coins. But in any case, this effect will be substantial.

It's important to keep BTWTY as "pure" as possible. Any rules added to it increase its complexity. So far, I find it perfect just as it is.

The top 20 blockchain projects. We only remove centralised entities (Ripple) and derivatives (cryptocurrencies copies of fiat, metals, ..).

14
General Discussion / Re: Some questions re Bit20
« on: May 12, 2017, 02:55:46 pm »
Any thoughts on how to clear that silly 0.04 debt also welcomed .. i sold to some lucky souls slightly above the price feed, thinking that would erase the debt (yeah, no) .. as far as I can see there's only two options, buying more or shorting more.. the next order is 50%+ away from the settlement price and shorting more seems like an awful idea :)

To pay your debt you need BTWTY.

What you did is borrowing BTWTY. You only needed to click on "close position" if you changed your mind.
Then you have sold the BTWTY you have borrowed. That's a different story.

You ask me for an egg, I lend it to you. Then you sell the egg. Now, in order to give me back the egg, you have to buy another one.

Same think with BTWTY, You have sold the ones lent to you by Bitshares. You have now to buy the BTWTY to repay BitShares for the ones it lent you. If you increase your debt, you're not closing your position but increasing the BTWTY borrowed to Bitshares.

The best way to do it is to observe the BTWTY and BTS market and chose the right moment to buy back the BTWTYs. If you expect the BTS price to increase with the Stealth announcement and other development, you can wait and buy you BTWTY back when BTS reach 0.02$. You will have make money (BTS) on the overall operation.

It would appear I got margin called at some point in the last 3 days. Lost about $400.

Expensive lesson.

I'm sorry to hear. I guess it happens during the high volatility we had lately. I would guess lots of traders have been margin called on several markets during these times.

15
General Discussion / Re: Bit20 - The cryptocurrency index fund
« on: April 21, 2017, 04:50:54 pm »


On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 20065294344 USD / 10 % / 0.87291578470716 coins / 1232.16 USD
ETH / 4514306085 USD / 10 % / 21.657976132206 coins / 49.6617 USD
LTC / 521706945 USD / 10 % / 104.60319704396 coins / 10.2824 USD
DASH / 518522510 USD / 10 % / 15.024283279737 coins / 71.5889 USD
ETC / 299964083 USD / 10 % / 325.8380683335 coins / 3.30094 USD
XMR / 284572267 USD / 9.7381502379009 % / 52.737191583632 coins / 19.8609 USD
XEM / 258080400 USD / 8.8315904257022 % / 33125.76061711 coins / 0.0286756 USD
REP / 124573900 USD / 4.2629570573061 % / 40.487040754245 coins / 11.3249 USD
MAID / 96360175 USD / 3.2974747363573 % / 1665.6825428515 coins / 0.212926 USD
PIVX / 90309478 USD / 3.0904180296332 % / 195.32638948038 coins / 1.70175 USD
GNT / 82415740 USD / 2.8202918947396 % / 3018.1248562256 coins / 0.100507 USD
ZEC / 76101209 USD / 2.6042067076336 % / 4.1610326198034 coins / 67.3153 USD
DCR / 67929548 USD / 2.3245699624577 % / 17.367134575901 coins / 14.3964 USD
STRAT / 66212668 USD / 2.2658178023941 % / 362.00496263059 coins / 0.673209 USD
BCC / 61536964 USD / 2.1058137777575 % / 22.487853870314 coins / 10.0719 USD
FCT / 57496920 USD / 1.9675622332396 % / 32.217448851248 coins / 6.56866 USD
STEEM / 52623698 USD / 1.8007990820761 % / 864.60149456975 coins / 0.224021 USD
GAME / 48655793 USD / 1.6650161562589 % / 228.63519536375 coins / 0.783276 USD
DOGE / 48023587 USD / 1.6433818730794 % / 401328.55895373 coins / 0.000440431 USD
WAVES / 46228400 USD / 1.5819500234637 % / 368.06400685678 coins / 0.462284 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



Don't hesitate anymore and start trading on the Bit20 market !!!






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