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Messages - bitcrab

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1
It's not a surprise to me that bitUSD is in a premium of 2%+.
Also, comparing it with bitCNY is weird as there are not direct off-ramps for bitUSD in contrast to bitCNY.

Personally, I'd leave bitUSD alone for now and focus on further improving bitCNY.

Yes, but to shape the future, we also need to push bitUSD, and even bitEUR forward.

2
Stakeholder Proposals / [Poll] BSIP59:Reduce MSSR of bitUSD to 1.01
« on: June 24, 2019, 10:25:35 am »
As MSSR values, 1% and 2% are different at:

1. 1% will lead to better pegging at time while margin call price impact the expectation on BTS price.

2. 1% reduce the benefits of shorting BTS in half.

3. lower MSSR will make the margin call orders a little more difficult to be eaten. and may lead to some risk accumulation.

We have seen that bitCNY behaved well after the MSSR was reduced to 1.01.

Now bitUSD has a MSSR of 1.02, what we can see is that bitUSD has a 2%+ premium.

I feel it's time to bring a better pegging to bitUSD.

GS protection is already implemented in bitUSD, so no need to worry too much on black swan.

Please find BSIP59 Doc: https://github.com/bitshares/bsips/blob/master/bsip-0059.md for detailed info of BSIP59.

Two worker proposals have been created for this poll:

1.14.207   Poll - BSIP59 - Reduce MSSR of bitUSD to 1.01

1.14.208   Poll - BSIP59 - Keep MSSR of bitUSD as 1.02

please consider the 2 choices carefully before you vote.

3
中文(Chinese) / Re: cn-vote投票公示
« on: June 24, 2019, 08:38:15 am »
这个cn-vote工会 还把票子投给ZBBTSBP见证人,我看到就火气,这个见证人什么时候都是倒数第一低的喂价,并且万年不更新一次,这样的见证人,几个散户组成的工会竟然也去投票,我就撤票了,希望大家也是这样,不要参与这个无实力的工会整的小孩儿科的东西,我对这个cn-vote工会撤票了,这个完全就是一些几个小散在搞的事情,没权力,没票数,没实力,不懂得炒作,不懂得推广,也没钱拉盘。

巨蟹也表示 不支持cn-vote工会的。而我 除了强烈反对 “添加内盘抵押BITCNY借BTS做空提议”之外,其它的我基本支持巨蟹。

不要乱讲,我没有不支持工会,我只是不支持工会的某些主张。
工会是做了很多有意义的工作的。


4
中文(Chinese) / Re: BTS投资指南
« on: June 24, 2019, 03:03:37 am »
      这个思想是个亮点,让BITCNY贬值来对抗BTS价格下跌。市场下跌CNY贬值,这太重要了!现在的机制是市场下跌CNY溢价,这个现象必须改变。
   另外,LIBRA即将问世,稳定币市场无人可比,现在BTS危机重重。一定要改变CNY不能贬值的错误思想。市场下跌CNY就应该贬值。贬值的程度由市场调节,贬值多了,自然会有人大量充值CNY储存。这也是开发CNY的市场需求的一个途径。喂价不能低于市场价。

这种只是应对极端的黑天鹅状况,是在爆仓减供失效后不得已而为之的手段,并不是常规手段,如果BTS一跌bitCNY就贬值那他妈的还叫什么稳定币。

5
I think we should instead learn from the catastrophic results of the OMO fund, use the accumulated CNY to pay back the OMO debt and return the few remaining OMO funds to the reserve pool.
Use any fuiure CNY fee income to slowly buy back BTS (or maybe trade off-market against BTS, e. g. those escrowed workers that are paid in CNY) and return them to the reserve pool as well.

we want to give some impact on the market, however what you suggest has no such impact.

the OMO debt position has a CR of 3.8+, no need to pay it now, it's better to use the accumulated fees to do something else.

6
General Discussion / Re: Price Feed Review
« on: June 23, 2019, 03:00:34 pm »
observed at UTC 14:50 23th

kraken: BTC/USD: 10723
kraken: USDT/USD: 0.9947
bittrex: BTC/USD:  10706
bittrex: USDT/USD: 0.993
binance: BTS/BTC:  0.00000614
huobi: BTS/USDT:  0.066
huobi OTC: BTC/CNY: 74850
huobi OTC: USDT/CNY: 6.94

at the moment the market price in CNY should be about 0.459.

Warning: fox and datasecuritynode provide a price feed which is 2%+ lower than reasonable



we should develop some tools to visualize the feed price in charts and make it easy for voters to check .

7
不要搞这种没有常识的提案,净出幺蛾子,瞎折腾。

8
This proposal is to replace 1.14.200 https://bitsharestalk.org/index.php?topic=28508.0

I agree with what the China BTSer Union suggested, https://bitsharestalk.org/index.php?topic=28549.0, BTS is now obviously under estimated in the market, we need to introduce more money to increase BTS holdings.

I think currently it's a good idea to use the accumulated bitCNY market fee to buy BTS, and this measure can be combined together with the left OMO issue.

1. now account committee-cnytrader owns a debt position of 451K CNY debt and 3.9M BTS collateral,  reorganize account committee-cnytrader, let the representative from CNY BTSer Union to replace witness-still,  committee-cnytrader will handle the task of buying BTS using the bitCNY market fee.

2.each time the accumulated bitCNY market fee is above 100K CNY, claim it and transfer to the cnytrader account, when BTS price is under 1CNY, the multisig members will decide the process to buy in BTS.

3. when the BTS price is above 1CNY, multisig members need to sell some BTS to pay the debt, and also accumulate bitCNY for the next down trend.

A poll worker proposal is created for this:

1.14.205   Poll - increase BTS holdings with accumulated market fee

please vote this proposal according to your opinion.

9
General Discussion / Re: bitusd peg
« on: June 21, 2019, 05:32:51 pm »
I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

10
中文(Chinese) / Re: BTS回购锁仓提案
« on: June 21, 2019, 01:51:06 pm »
如果数量多了的话,岂不是锁住了一些bitcny的流动性,本来很多bitcny已经被一些大户锁了。
当然这点量也无所谓。

留着低点再买BTS,也不算锁住。

11
中文(Chinese) / Re: BTS回购锁仓提案
« on: June 21, 2019, 01:23:39 pm »
重新考虑了一下,觉得可以和OMO结合起来。

还使用committee-cnytrader做交易,但多重签名可能需要做些修改。

账户里现在债仓抵押率3.8,不需要急着平掉,手续费转过来还是去回购BTS,不销毁。

等到价格到足够高的时候,出掉BTS平掉债务,剩余bitCNY留着等熊市。

原则上也不再借新债。

如何?

12
中文(Chinese) / 把BTS从ZB提出来?
« on: June 21, 2019, 04:16:58 am »
如题,现在ZB也参与BTS社区,nevermore1在积极投票,zbbts也在运行节点,但我觉得我们依然需要对ZB的情况做一次严肃的审视。

ZB钱包现在有大约2.6亿BTS,是CEX里面最多的,ZB平台的BTS/QC杠杆交易也很活跃,可以说ZB交易平台对BTS的价格走势有很大的影响。

但鉴于虚拟货币交易的各种不规范现状,CEX里面可能存在各种不规范的操作,比如裸卖空,比如挪用用户资金进行放贷,市场操纵等等。

在过去的时间里,已有多次用户爆料ZB的不规范行为,涉及裸卖空,市场操纵等。



在BTS方面,由于ZB的BTS积累比较充足,暂未发现裸卖空的迹象,但是,是否有挪用用户资金进行放贷或者市场操纵却是很值得追问的事情。

而且,ZB也的确有这么做的动机。

ZB之所以能吸引到如此多的BTS,一个关键点就是用户可以拿BTS在这里放贷收息。而借贷者借了BTS是用来做空的,如果ZB希望保持这种吸引力,就有必要保持乃至增加借贷需求,换句话说,需要保持BTS的“做空可操作性”。

一个聚集了BTS流通量10%的交易所如何保持BTS的“做空可操作性”呢?挪用用户资金操纵市场,在合适的时机主导做空,制造BTS的弱势形象,我想都是不难想到的方法。

而且看看其他社区用户的控诉,这样的怀疑也并非空穴来风吧?

在过去,BTS自带杠杆的特性也给这种做空收割的操作提供了便利,现在,虽然这种便利大大减少了,但依然存在。

所以,我们需要反对的不是做空机制本身,而是种种不规范操作可能给BTS本身带来的伤害,杠杆做空机制本身没有问题,可以更有效地进行价格发现。目前社区正在讨论的“lending margin call”新功能,如果能成功实施,那么用户可以再内盘抵押bitCNY借BTS来做空,但这里不存在裸卖空或者资金挪用的可能,这种机制就是我们所需要的。

而对于有较大嫌疑进行资金挪用,价格操纵,主导做空的CEX,我想,BTSer们还是最好把BTS从这些CEX里提出来吧,因为你放在里面的每一个BTS,都可能转化为做空攻击的子弹,虽然你可能通过放贷获得小小的收益,但比起BTS本身健康成长能给你带来的收益,这点小小收益真的很微不足道。后面还隐藏着巨大的风险。

更何况,做空BTS已经变得比过去更难。

13
we can see that now although BTS/bitEUR pair is in poor liquidity, but user can still borrow bitEUR with little difference comparing to borrowing bitCNY. why? because the reference price is fed, not the last price, if the margin call rules reference the last price, easy to expect that the debt position will be margin called in minutes via manipulation, no doubt.

take another pair GDEX.BTC/bitCNY as example, what a reference price is good? in my view, the reference price should also be fed  by witnesses - a general BTC/CNY price, if just use the last price, manipulation will also happen in minutes.

another question, who can decide to add such a feature to one pair? I don't think it's good to just add this feature to all the pairs, maybe committee should have the right to decide to include which pair. and  the precondition  is that the asset issuer agree to add.

14
中文(Chinese) / Re: CTS 去掉全局黑天鹅测试
« on: June 20, 2019, 10:45:51 am »
嗯,实践检验,一架飞机有明显的设计缺陷不去改正,非要飞上天掉下来再说。

15
中文(Chinese) / Re: CTS 去掉全局黑天鹅测试
« on: June 20, 2019, 03:38:48 am »
资不抵债的账户将债仓转移到comittee-account之后,comittee-account的call_order不会出现在黄单里。这就是减少抛压啊。
相对于黑天鹅保护,那些 call_order还实实在在的在黄单里挂着,抛压减少了么?

黑天鹅保护,喂价已经锁定黑天鹅价,黄单价不再跟随市场价下降,你觉得没有减少抛压?

你们这种,坏账不出现在黄单,但是依然可以按喂价强清,嗯,是减少了那么一点点,但是对大局没啥影响,因为大量没坏账的黄单依然在而且价格会继续随喂价降,同时可以按喂价强清的债仓也同样是抛压,虽然价格可能比黄单稍高一点点。

而且这都是以committee-account可能出现净负债为代价,你们太低估”净负债账户“出现的严重性了。

这种方法,一言以蔽之,可以叫做”打肿脸充胖子“,黑天鹅发生表明事态严重,需要非常手段处理,可还宁可以可能出现”净负债账户“为代价坚持按喂价强清,完全不可取。


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