Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - sschiessl

Pages: [1] 2 3 4 5 6 7 8 ... 17
1
General Discussion / Re: Critical Review of bitUSD by an academic at LSE
« on: October 15, 2018, 06:19:36 am »
Is that a public discussion somewhere?

2
Have a look at

https://wallet.bitshares.org/#/account/<youraccount>/update-asset/<yourasset >

5
General Discussion / Re: Announcement on BSIP42 relevant actions
« on: October 01, 2018, 08:14:20 pm »
This is a lightly modified copy of a post in the other thread, but I think it applies in this context even better.

I believe one of the main concerns is lack of readily available information in the approach, which the (mostly english) community desires. I would also like to see a report in the matter (please don't mention that it's all on chain ...). Without even discussing the content of BSIP42 (and I personally don't oppose it) this is enough for me to think we should take a moment and properly analyze how it affected bitCNY.

For example, provide measures over past weeks since BSIP42 is active (and possibly before that timeframe for a comparison):
  • old price feed
  • effective values of MCR, MSSR and FSO (consider differences in the feeds)
  • effective offboarding ratios when
    • selling bitCNY for BTS (and BTS for CNY)
    • when settling CNY for BTS (and selling BTS for CNY)
    • offboarding directly with bitCNY (aka the peg)
Those measure are interesting for the common user. I believe you would see that there is a jump when BSIP42 was activated,
and it will show that the values are normalizing over time (which would show that the market accepts the peg, and what the consequences are).
The effectiveness of the BSIP 42 can directly be judged with those measure, furthermore it will be clearer where the premiums are paid now. It will at least paint a much clearer picture for the community.

All those values measures might be clear to you, but not to the common eye.

6
General Discussion / Re: Consider derailing feed price
« on: October 01, 2018, 11:28:33 am »
I believe one of the main concerns is lack of readily available information in the approach, which the community desires (IMO). I would also like to see a report in the matter (please don't mention that it's all on chain ...). Without even discussing the content of BSIP42 this is enough for me to think we should take a moment, properly analyze how it affected bitCNY, reflect on and then decide how to move forward.

For example, provide measures over past weeks since BSIP42 is active (and possibly before that timeframe for a comparison):
  • old price feed
  • effective values of MCR, MSSR and FSO (consider differences in the feeds)
  • effective offboarding ratios when
    • selling bitCNY for BTS (and BTS for CNY)
    • when settling CNY for BTS (and selling BTS for CNY)
    • offboarding directly with bitCNY (aka the peg)
Those measure are interesting for the common user. I believe you would see that there is a jump when BSIP42 was activated,
and it will show that the values are normalizing over time (which would show that the market accepts the peg, and what the consequences are).
The effectiveness of the BSIP 42 can directly be judged with those measure, furthermore it will be clearer where the premiums are paid now.

All those values measures might be clear to the initiators of BSIP42, but not to the common eye.

8
Stakeholder Proposals / Re: [Poll] BSIP42: adjust price feed dynamically
« on: September 15, 2018, 06:50:23 pm »
Witnesses are still tweaking their algorithms. I think a little more time buffer would be well advised to have stable code base before moving to less liquid markets

9
When I look into BSIP 42 I understand that witnesses are allowed to also adjust the Force settlement offset, which should be looked into now as well. It is unsurprising settlement is seldom used with a 5% fee.

Force settlement and the promise of sufficient collateral is the unique and key value proposition of SmartCoins. Certainly in high liquidity markets this will never be needed, but it must remain. Without those two it is nothing else but a UIA. I think arbitration through force settlement is a healthy market mechanism (the parameters must be fine-tuned).

10
Stakeholder Proposals / Re: Witness Report for for-one
« on: September 11, 2018, 09:18:17 am »
Can you also elaborate on the ties mentioned here  https://bitsharestalk.org/index.php?topic=26982.msg321662#msg321662 ?

11
Technical Support / Re: Handshake status 429 Too Many Request
« on: September 07, 2018, 02:35:59 pm »
Can you please eloborate what you are testing and which API says that?

13
Stakeholder Proposals / Re: BSIP 40: Custom active permissions
« on: September 06, 2018, 07:42:51 am »
Thanks everyone for the support, BSIP 40 is now active!

14
Who is the judge of what the correct fiat price is?
How did you calculate the 9% from the 2%? Could you elaborate that please?

logic:

1. 2% premium means bitCNY is already in serious shortage, need strong negative feedback.
2. when feed price < DEX price*MSSR, it is always safe as the margin called orders can always be eaten.

MSSR = 1.1, to be careful, we select 9%, not 10% as the metric.


Thanks for the clarification. It boils down to the questions now how the premium is defined. As a premium I would normally understand difference of the last market trade against the feed price.

If I understand correctly, you talk about premium here and mean the difference of the feed price against a fair FIAT price. How is the fair FIAT price defined?

My assumption was always that the fair FIAT price is exactly what the feed price of the witnesses *should* be, thus you are creating a formula which implicitly depends on the target unknown
Code: [Select]
feed_price = some_formula( feed_price, MSSR, ... );
In other words, your price feed formula is now a fully implicit differential equation and must be approximated numerically (with newton or similar).

If my above assumption is correct:
IMO a proper mathematical model should be defined for the price feed. I have an applied maths background and connections to the  mathematical economics department at the FAU university here in Erlangen / Nuremberg.  Are you guys interested in establishing a collaboration here? This is of course no short term approach, but I think it would greatly help in evolving the price feed. It would be e.g. a nice topic for a masters thesis.

If my above assumption is not correct:
How is the fair FIAT price and therewith the premium decided upon?

15
Hey there,

I looked into it and found 404 errors e.g.
- https://bitsharescan.com/accounts
- https://bitsharescan.com/buy-sell/SHELLCOIN_MZCOIN
- https://bitsharescan.com/transaction/dc53fc673767c123a9b1b5df3b6cdaa7ab85d00f

In what way could I report errors like that? Is in here good?

Pages: [1] 2 3 4 5 6 7 8 ... 17