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General Discussion / Re: Somebody might enlighten me why BSIP42 on BitUSD ?
« on: September 27, 2018, 08:09:31 pm »
Yup, explanation is necessary. This platform is going in wrong direction ;(
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General Discussion / Re: is it a goode idea to disable force settlement and black swan for bitCNY?
« on: September 18, 2018, 11:52:41 am »
bad idea
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Stakeholder Proposals / Re: [Poll] BSIP42: adjust price feed dynamically
« on: September 16, 2018, 11:21:30 am »data at this moment:
bitCNY: BTS price:0.818, feed price:0.917, premium:0.1%
bitUSD: BTS price:0.115, feed price:0.119, premium: 4%
BSIP42 worked fairly well on bitCNY, we need to apply it on bitUSD in the next step.
how did you calculate this premium?
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Openledger / Re: [ANN] OpenLedger - Smart Trading Decentralized with BTC and altcoins added
« on: August 31, 2018, 01:57:20 pm »On the second day of each month, we will place an OBITS Buyback order. The price of the placed order will be calculated based on the previous month’s median value of the market price.
If the order is not closed till the end of the month, it will be canceled, and the remained assets will be put into the new order. All the bought-back OBITS will be burned.
So it will be buyback&burn only? No dividend/sharedrop?
The voting runs until October 1st, 2018, 13:00 CET.[/b]
* To ensure an accurate voting procedure, we will take a snapshot of OBITS holders accounts on 15:00 CET, September 4th, 2018.
Are you sure that it's CET and not CEST?
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General Discussion / Re: Is it a good idea to lower MSSR of bitCNY from 1.1 to 1.05 or even lower?
« on: August 16, 2018, 10:08:49 am »First 3 witnesses who changed MSSR :
witness.yao
delegate.freedom
magicwallet.witness
If you got them as witness voted you can unvote them if you don't agree to their actions
To be more precise, those three changed MSSR on bitCNY.
witness.yao changed it also on bitUSD and bitEUR that was not part of the discussion!!!
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General Discussion / Re: Is it a good idea to lower MSSR of bitCNY from 1.1 to 1.05 or even lower?
« on: August 15, 2018, 06:51:09 am »
I think that this one is much safer experiment than the one influencing the CNY feed price. Definitely don't implement both at the same time, otherwise you cannot judge the effect of one or the other. Give people long enough time (counting in months) to adjust their behavior.
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Stakeholder Proposals / Re: Removing Bitcrab from the committee controlled open market operation fund
« on: August 13, 2018, 11:18:53 am »
I was thinking about 0.001% after all fees (net profit). The point is that no matter how small the relative profit is, if the base is huge, there will be somebody who will take his part and therefore no buy wall will keep for long time.
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Stakeholder Proposals / Re: Removing Bitcrab from the committee controlled open market operation fund
« on: August 10, 2018, 09:15:50 pm »
Yes, it could happen that the wall would stay in place for some time if the price difference between CEX and DEX would be too small for arbitrage to be worth of effort. But I still cannot imagine that there would not be a single person in the world who would like to get free money, even if it would be just 0.001% of 1 million of bitUSD 
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Stakeholder Proposals / Re: Removing Bitcrab from the committee controlled open market operation fund
« on: August 10, 2018, 01:24:45 pm »
That is not the main problem... no matter how big the wall would be, it would be eaten quite quickly. The problem is that funds creating this wall belong to the community and therefore nobody should gamble with them.
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Stakeholder Proposals / Re: Proxy: bitcrab - make the ecosystem grow
« on: August 10, 2018, 01:22:00 pm »
Thanks, it makes sense
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Stakeholder Proposals / Re: Proxy: bitcrab - make the ecosystem grow
« on: August 10, 2018, 11:09:13 am »
mr.agsexplorer worries me more... is there any SLA how often should witnesses produce feed? 3 hours doesn't seem right for actively traded assets.
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General Discussion / Re: suggestion to witnesses on "the highest one" CNY price feeding model
« on: August 10, 2018, 10:32:02 am »QuoteI don't think so, it is just the result of one exploitation
How come you think its based on one exploitation?
Even if it would be based on one exploitation wouldn't it be fixed if these people would just adjust their CR correctly to not cause such an exploitation ?
I cannot believe that the current price of BTS is a result of just a one-time exploitation. The best way how to prevent manipulation is to make it very expensive by providing value to customers. In this case it could be achieved by updating debt positions to high enough CR.
Also sure (at least to me) is that price feeds need to grow and be taken more seriously as markets mature. Witnesses need to take their responsibility serious and keep up with market price.
...
Additionaly, I refrain from acting *quickly* out of markets behaving unexpected. The movements in the last days, shouldn't be take as arguments to modify the smart coin parameters (feeds).
There is a much bigger picture to bitCNY and that is long-term predictability.
Those that sold their BTS on CEX to buy from margin calls on another exchange (DEX) is *business as usual*. Could have well been caused by arbitrators instead of feed producers.
That said, I am not totally against experimentation - but I would rather see small steps and proper discussion before implementation.
Do we understand all the implications of "raising" the price "artificially"?
I completely agree - experiments are important but need to be discussed properly and transparently.
But, price feeds are supposed to be volumen weighted.
...
One way of doing so would be to have BTS listed on more exchanges and do our best to increase volumen on *any exchange* (including the DEX). The internal trading price could be fed back (volume weighted) into the price feed calculation as well.
I agree, I see no reason why not to include volume-weighted DEX price into feed.
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General Discussion / Re: review the drastic fall
« on: August 10, 2018, 09:00:17 am »what we want is just to avoid the price maunipulation from outside DEX.
Who/how can manipulate the price from outside of DEX?
sometimes traders can sell big in centralized exchange and then lower the feed price to make some debt position margin called and eat the margin called order.
long long ago, this happen a lot in poloniex but now seldom because now a lot big exchanges list BTS so it's not easy to manipulate the feed price.
OK, so you are trying to create a solution to the problem that doesn't exist/is small/is improbable.
it's clear that today BTS's falling down is not so related to BTC, BTC fell down slowly today, and the lowest price even do not touch yesterday's lowest price.
it's clear that the BTS's chart is somehow independent, clearly that some shorters find the chance and attack accuratelly.
it's a pity that now it's still so easy for shorters to attack BTS.
BTS need to evolve rapidly to discourage shorting, one price feeding relevangt suggestion is here https://bitsharestalk.org/index.php?topic=26914.0
"it's not easy to manipulate the feed price" vs "it's a pity that now it's still so easy for shorters to attack BTS"... I'm confused now, is it easy or not?
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General Discussion / Re: review the drastic fall
« on: August 09, 2018, 11:21:46 am »what we want is just to avoid the price maunipulation from outside DEX.
Who/how can manipulate the price from outside of DEX?
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General Discussion / Re: review the drastic fall
« on: August 09, 2018, 11:20:41 am »some factor play the key role to trigger the drastic fall, it is the big debt position.
after the 719 hard fork, target CR feature is enabled, however, unfortunately, GUI does not support this new feature until after the drastic fall.
some big debt position, including mine, are margin called at the begining of the fall, and quickly lead to drastic fall.
if the big debt position could have set target CR, things would be much better, as we can see, in other time, the BTS price change slowly.
so is the cowork of OMO+ spring fund to support the price make sense? yes, even now I think it make sense, but the problem is that we under evaluate the impact of big debt positions without target CR setting...
Assuming that target collateral ratio is implemented as designed and doesn't contain bugs, it should not influence the price in any way. It's just a nice feature for big debt positions so that they are partially protected.
E.g. there are two big positions called (2 mil bitUSD and 1 mil. bitUSD in this order). A buyer with 0.5 mil bitUSD places an order to buy BTS.
Before hard fork, buyer gets what he wants and two positons will be still called (1.5 mil bitUSD and 1 mil bitUSD in this order no matter what CR these two positions have - a bug).
After hard for, buyer gets what he wants and two positons will be still called (1.5 mil bitUSD and 1 mil bitUSD, order depends on new CRs that are counted immediately after order is filled).
Optionally, both debt position owners can set target collateral ratio which could effectively protect the first one but it has no effect on market price - this only depends on buyers and sellers.
