Global settlement happens when collateral is not maintained by bitasset shorters.

Bitshares has a built mechanism to punish them to maintain their collateral and also incentivise would be margin call buyers.

The bitasset shorter is punished by selling his collateral at a 10% discount.
The margin call purchaser is incentivised to buy BTS at a 10% discount from feed price.

This system is called MSSR and is currently set at 10%

All we need to do is increase it to 20% and bit asset shorters are more likely to maintain their collateral.

I really like the fact the bot is built into the GUI.
great work!

BSIP42 = You can't settle your bit assets for their face value anymore.

@bitcrab @abit
I think most people agree the GUI should prompt the user to buy BTS with BitAsset when they try and force settle but only when the price is better.

Disable force settlement and global settlement, Are you mad?

You initially said the 5% force settlement was a temporary measure,  that was a year ago.  Bitshares is a protocol you can't keep changing the rules for your own interests even as a big whale.

As someone else said, make your own CNY smartcoin don't try and change the committee assets.

How can someone have faith in a stablecoin when the rules change every year.

Yes.
The GUI should be changed so that when you click force settle it prompts you with "you can get a better price by selling, do you wish to sell now"

The hope was that when volume grows, the premium may go down, but apparently, the incentives of shorters are not sufficiently aligned for traders to sell into margin calls at 10% mssr, hence the premium in bear markets.

Bitcoin is such a deep liquid market with huge volume on hundreds of exchanges. Makes the price harder to manipulate to attack BitUSD shorters.  Also Bitcoin has lower volatility meaning either less chance of black swan with current settings or we could reduce the collateral required to back bitUSD.

Millions of people hold Bitcoin and may be interested in borrowing interest free against it. The number of BTS holders comparatively tiny.

FFS bitcrab, I thought BitShares was supposed to be decentralised.

You adjust all the parameters to suit your whale positions.

you run the open market operations (a major conflict of interest.)

you got the committee to change force settlement on BitCNY to 5%(supposedly temporarily) when all other bitassets are 1%

now you want to change MSSR for your own ends.

lets just rename it Crabshares