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Messages - bitcrab

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16
Stakeholder Proposals / Re: Proxy: bitcrab - make the ecosystem grow
« on: March 04, 2019, 10:59:40 am »
unvote witnesses elmato, abc123 and sahkan-bitshares.

poll voting worker proposals have decided to changed MSSR of bitCNY from 1.1 to 1.05 months ago, from 1.05 to 1.02 several days ago, but they still feed 1.1 as MSSR of bitCNY, ignoring the community consensus.

17
喂价喂的是法币的价格,如果bitCNY有溢价,那就意味着真实的法币价格比bitCNY价格要低,喂价也就可能比内盘买价低,这没什么不合理的。

现在没贬值又怎样呢?我说下雨要打伞,你反对的话就去论证下雨天不用打伞,你问今天下雨了么能说明啥呢?

抵制恶意喂价有各种方法,但刻意地规定喂价怎样不可行。BSIP42被社区抛弃后,我原则上不再支持人工干预喂价的做法。


18
没卵用。

大空头可以在外盘砸盘,难道不能在内盘砸盘?

bitCNY也可能有贬值,如果市场真实价格低于内盘的bitCNY价,凭啥不让人喂真实价格?

内盘加杠杆本身就是做多的手段,多空操作本身都是高风险操作。

可行的是,通过不断地优化规则,减少乃至去除掉那些不必要的对抵押借款风险的惩罚,做到在风险可控的前提下,让系统内的债务得以保持乃至持续增长。

因为很清楚,债务和bitCNY供应量是同一件事情的两面,债务增长,货币供应量才会增长。

bitCNY的进化也正是沿着这样的路在走。

从爆仓就全爆到目标抵押率。

MSSR从1.1到1.05,马上要到1.02。

可以更低吗?也许吧,但至少先观察一两个月再说继续降低的事儿。

四月份会有次硬分叉,分叉后MCR可以改变。

到时可以考虑降低bitCNY的MCR,第一步先降到1.6?


19
中文(Chinese) / Re: 【讨论】后BSIP42时代bitCNY的规则改进
« on: March 01, 2019, 09:24:51 am »
那如果有几个见证人恶意喂价低于黑天鹅价的时候,系统上面来说响应执行吗?得防止见证人联合作恶的事情出现。得从系统上代码来解决这个不确定因素。

黑天鹅对谁都没好处,对bitCNY持有者来说,bitCNY会贬值,对抵押者来说,不能继续抵押了,普通交易者也不希望看到bitCNY贬值。

所以见证人联合作恶的动机几乎没有,而且见证人需要遵从社区共识,不然被投下去的风险会增大,当然从底层代码层面保证这一切更好,这就要看core team的了。

20
中文(Chinese) / Re: 【讨论】后BSIP42时代bitCNY的规则改进
« on: February 28, 2019, 07:00:46 am »
bitUSD加黑天鹅防护也只需要一次投票而已。

等bitUSD复活了就发起这投票。


21
As the poll worker proposal 1.14.168 has been voted up, MSSR of bitCNY will change from 1.05 to 1.02.

The change will happen after  UTC 00:00 4th, March, 2019.

Every witness, please update your feeding script to publish 1.02 as MSSR of bitCNY, please do the job from UTC 00:00 4th, March, 2019 and finish before UTC 00:00 6th, March, 2019. 

22
Stakeholder Proposals / Re: [Poll] BSIP59:Reduce MSSR of bitCNY to 1.02
« on: February 25, 2019, 12:17:20 pm »
actually lowering MSSR exponentially increases the chance of global settlement, because the margin call won't be arbitraged anymore

No, when MSSR=1.1 bitCNY has been at the edge of global settlement; when MSSR=1.05 the margin call orders are still being eaten, as what happened today.

traders will suppose 1bitCNY>1.05 fiat CNY when MSSR=1.05 and bitCNY is in phase 3. there will always be uneaten margin call orders either MSSR=1.1 or MSSR=1.05, if the bear is big enough.

MSSR does not determine whether black swan will come, the market emotion does.


23
Stakeholder Proposals / Re: [Poll] BSIP59:Reduce MSSR of bitCNY to 1.02
« on: February 25, 2019, 02:31:44 am »
higher chance of global settlement

the main cause of GS is the big bear, either setting MSSR to 1.1 or 1.05 or 1.02 do not play the key role on triggering GS.

but the different MSSR will lead to different premium of smartcoin in phase 3, which is a key factor on smartcoin ecosystem grow.

and as BSIP58 is already implemented on bitCNY, we need not worry too much on global settlement.

24
中文(Chinese) / Re: 【讨论】后BSIP42时代bitCNY的规则改进
« on: February 24, 2019, 09:34:38 am »
MSSR降到1.02的worker已创建,欢迎踊跃投票。

1.14.168   Poll - BSIP59 - Reduce MSSR of bitCNY to 1.02

1.14.169   Poll - BSIP59 - Do Not Reduce MSSR of bitCNY

25
中文(Chinese) / Re: 重启公市基金?
« on: February 24, 2019, 09:33:12 am »
MSSR降到1.02的worker已创建,欢迎踊跃投票。

1.14.168   Poll - BSIP59 - Reduce MSSR of bitCNY to 1.02

1.14.169   Poll - BSIP59 - Do Not Reduce MSSR of bitCNY

26
Stakeholder Proposals / [Poll] BSIP59:Reduce MSSR of bitCNY to 1.02
« on: February 24, 2019, 08:50:26 am »
BSIP59 define a general process for adjusting MSSR and/or MCR through voting

This poll will decide whether to reduce MSSR of bitCNY from current value 1.05 to 1.02.

as described in BSIP59 Doc: https://github.com/bitshares/bsips/blob/master/bsip-0059.md, currently bitCNY is in phase 3 - always margin called orders stayed, bitCNY has a 6%+ premium, and the current MSSR value is 1.05.

MSSR of bitCNY has been changed from 1.1 to 1.05 for months, we found that in phase 3 the bitCNY premium depend heavily on MSSR, higher MSSR always lead to high bitCNY premium, but not always lead to in time filling of the margin call orders.

to enable bitCNY peg better in phase 3, I now suggest to reduce MSSR of bitCNY from 1.05 to 1.02, it can be expected the bitCNY premium can be reduced to 2%+ after this change, this will benefit the whole ecosystem.

Two worker proposals have been created for this poll:

1.14.168   Poll - BSIP59 - Reduce MSSR of bitCNY to 1.02

1.14.169   Poll - BSIP59 - Do Not Reduce MSSR of bitCNY

please vote according to your opinion.

27
General Discussion / Re: Review of OMO
« on: February 18, 2019, 07:48:45 am »
The market fee income is so little that it cannot provide obvious help on bitUSD revive.

28
General Discussion / Re: Review of OMO
« on: February 18, 2019, 04:24:16 am »
I have a better idea. Forget about OMO and turn off market fees on bitassets.

With the use of DEXBot staggered orders all market fees would be turned into liquidity providing orders which continually increase in size through the compounding of profits from the back and forth of price.

This is the simplest, safest, most efficient way forward for open market operations.

We cannot simply say that the purpose of OMO is market making.

take bitCNY as an example

buy BTS when bitCNY is in shortage and high premium.
sell BTS when bitCNY is in oversupply and obvious discount.

the rules do not lead to high trading volume.

bitCNY/BTS pair now has a fairly good depth, not in big demand on market making.

If we mainly concern market making, I prefer to turn off market fee of bitCNY, which can bring more incentive to trading.


29
中文(Chinese) / Re: 重启公市基金?
« on: February 17, 2019, 09:39:18 am »
投票的WP已经创建,请投票:

1.14.166 Poll - Restart Open Market Operation
1.14.167 Poll - Do Not Restart Open Market Operation

30
Stakeholder Proposals / [Poll]Restart Open Market Operation
« on: February 17, 2019, 08:30:37 am »
In the past 10 months, open market operation fund lost much in the big bear market. A simple summary can be found here: https://bitsharestalk.org/index.php?topic=27790.0

However, I believe that the market fee income should be used in supporting the smartcoin ecosystem. What we learned in the past 10 months will help us to optimize the policy in the future.

So I now suggest to restart the Open Market Operation with updated rules:

1.Open Market Operation Fund will not get BTS through worker proposal, it will only get the market fee of smartcoins as fund source.
2.Smartcoin borrowing will not be allowed.
3.BTS buying orders can be placed only when there is margin called orders stayed.
4.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.

the operation will still cover bitCNY and bitUSD, as bitUSD is in global settlement status, operation on bitUSD will start after bitUSD revive.

bitCNY operation account: committee-cnytrader
bitUSD operation account: committee-usdoperator

As ebit and witness.still are voted out of committee, the active key of committee-cnytrader will be changed to a 2/3 multisig of bitcrab, jademont and abit.

2 poll worker proposals have been created for this plan:

1.14.166 Poll - Restart Open Market Operation
1.14.167 Poll - Do Not Restart Open Market Operation

please vote according to your opinion.


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