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Messages - xeroc

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What's your location? Have you tried manually pick an API node that is closer to you from the bottom right corner?

Stakeholder Proposals / Re: Proxy: xeroc
« on: December 12, 2018, 03:13:11 pm »
Hello Fabian
I hope you can take a look at our work proposal. Address:
I hope you vote for us. Thank you.
Tested the app. Love it. Voted!

General Discussion / Re: another way to development the economic
« on: December 12, 2018, 03:08:16 pm »
Interesting idea. Technically possible. The biggest concern I have is by using "USD" and thus potentially making it appear as if it was U.S. juristiction.
In the case the U.S. feels responsible to do something about it, promising a reward for DEBTUSD makes the token a security, and no one wants to be responsible for that - not even the committee members.

General Discussion / Re: Bitshares URL schema [ PROPOSAL ]
« on: December 12, 2018, 03:05:14 pm »
Good work, as usual!

You've done a great job so far! Please keep it going!

All bids are listed here as well:
I'll try to find some time to add a "progress bar"-kind of visualization to it

A transfer is an "operation". You can bundle many operations into a single transaction, however, you still need to pay the transfer fee for every single operation. To construct such a transaction, do you prefer to use python, JS or rather talk to the cli_wallet API?

General Discussion / Re: API Node Latency Map
« on: December 08, 2018, 11:09:58 am »

1. For bitCNY, only adjust the MSSR to 105%, and the other to the market. By adjusting the MSSR from 1.10 to 1.05, the number of BTS sold by Margin Call will be reduced by 5%, and the selling price will increase by 5%, and the arbitrageur will still have a 5% profit. I think that the ±5% premium discount is not a big problem for the current stable currency application scenario: the current stable currency is mainly used as a hedging tool for digital currency investors to avoid falling risks, even as a deposit and Withdrawal channel, premium discount bitCNY still has the same purchasing power. Only when applied to the merchant accepting the payment scenario of bitCNY, it is necessary to accurately anchor the RMB value.

2. In the past five years, the community has placed its focus on SmartCoins, and hopes that bitCNY will achieve a breakthrough, and other ecological developments will be almost zero, making the price of BTS deeply bound to the fate of bitCNY. At the same time, most of the bitCNY mortgaged directly bought the BTS, pushing up the overall leverage of the BTS: bitCNY market, helping to boost the BTS price, the bull market is like a rocket booster, and the bear market is like a meat grinder.

In contrast, the stable currency DAI built on Ethereum, because the price of ETH is determined by the ecology of Ethereum, the development of DAI has almost no effect on the price of ETH, so it is more smooth than the development of bitCNY.

The BitShares community needs to re-examine the development strategy. We should pay attention to the development of other application scenarios, let the ecology bloom, and let more products and application scenarios support the price of BTS. At that time, the development of SmartCoins could be achieved. In addition to current features (such as account system, account permissions hierarchical control, Multi-Hierarchical Flexible Multi-Signature, Memo, whitelist and blacklist, User Issued Assets, Decentralized Exchange, Proposed Transactions, 3 seconds to pack a block, 1.5s average transaction confirmation time, etc., there can be many applications in any combination. The scene can be developed), bsip43, bsip44 are all worth promoting.

1、对于bitCNY,仅调整MSSR为105%,其它的交给市场。MSSR从1.10调整到1.05,Margin call 卖出的BTS数量会减少5%,而且卖价也会上升5%,套利者依然有5%的利润。我认为±5%的溢价折价对于目前稳定币的应用场景来讲没什么大问题:目前稳定币主要是作为数字货币投资者规避下跌风险的避险工具,即使是作为资金进出的通道,溢价折价的bitCNY依旧有同样的购买力。只有应用于商家接受bitCNY的支付场景的时候需要精准锚定人民币价值。




Also, thanks for coming over to the English speaking community! I know there is lots of discussion going on in the Chinese community and I appreciate you going public to the rest of us as well. Thank you!

General Discussion / Re: Investigating the reasons for BitUSD GS
« on: December 07, 2018, 08:57:49 am »
1. Was BitUSD mismanaged? If so, by whom and why?
2. Was it the fault of BSIP42?
3. How will BitCNY be saved from the same fate?
4. Was the GS inevitable?
To break it down:
BSIP42 allowed witnesses to experiment more with price feeding to improve the peg.
Different algorithms have been tried which came with more risks and better peg for certain market conditions.
Market conditions changed drastically. Unfortunately, at that time, the algorithm for price feeding was such
that the peg was holding strong, at a (significantly) increased risk of global settlements.

What the algorithm basically did was move the (margin call) price feed away from market so that margin calls
(which buy at 10% above market) would only trade at current market rates. Hence the price feed was off by
10% in general (more of less). Additionally to that, a stateful feedback loop was integrated to track the *premium*
of bitUSD and move the call price even further.

The consequence was that a huge margin call aggregated during the bear market and those margin calls were
unable to buy back their bitUSD in the internal markets (not even with a 10% penalty) because the call price (feed)
was off too much.

Could a GS have been prevented without BSIP42, I am not sure. It could be because the margin calls could have
been filled more easily. Would there have been traders doing so? No one knows.

My personal conclusion (as a proxy) is to not accept call price (feed) manipulation and instead use other means
to give (and take) incentive to borrow (and short sell) new bitassets (depending on supply and demand).
Those means have been discussed back then too, but an issue in the backend that is currently been worked
on effectively prevents us from using it. Additionally to that, the bear market has continued and moving away from
BSIP42 (in particular for bitCNY) would cause an immediate global settlement, which at least is undesirable for the
vast majority of the bitCNY traders and BTS holders from China.

The ideal "solution" for me would be to sit out the bear market and as soon as collateral ratios in bitCNY pick up again
gradually reduce the impact of BSIP42 and instead replace it with (potentially a mix of) dynamic MCR and dynamic

bitUSD can be revived and when that happens I do not intend to support any witness that feeds a price feed that
goes more than ~2% away from fair market pricing for bitUSD.

@Victor118, we have evaluated a concept of sidechain of BitShares with a smart contract.
OL team can implement this solution. If the community is interested in it more than in the ETH VM, we can develop it.

Please let us know. Thanks in advance!

        Pavel Sivayev
Openledger ApS
Head of Solution Engineering
As has been discussed previously, the specifications are needed before implementation should be started!
Would love to hear more about how you think sidechain should/could be integrated. The solutions that I have seen
so far are unsatisfying .. Would love to see your proposal and learn how you envision it.

Interesting situtation here.

One party is short and tries its best to ensure bitCNY maintains value to grow BitShares as business
The other party is long and tries to profit from margins being called to make a profit.

Fortunately, those with voting power see that as well and pick the way that keeps value for BitShares as a network.

Today we're officially establishing our first network node, It's hosted in Germany Frankfurt in a very powerful datacenter and server, because that's what the beautiful community deserves.

Looking forward to see what you guys are up to!
Thanks for picking BitShares!

excellent example of worker transparency and accountability!

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