MSSR和喂价是两件事，喂价的问题应该由喂价本身解决。

黄单高悬与锁仓无关，是希望解决稳定币系统的经济激励问题，MSSR降到合适的位置，可以使得当bitCNY有明显溢价时，BTS多方在与空方的博弈中处于有利地位，从而激励稳定币的供应。

“when bitCNY is in an obvious premium, BTS longs will get advantages in the long-short game.”

if we can make this happen, we will give incentive for bitCNY supply and good pegging.

I believe reducing MSSR to 1.01 will help to get this.

Quote from: binggo on May 11, 2019, 12:41:19 am

Quote

2. there were people crying in the past that "it's easy to dump in CEX to trigger margin calls in DEX". Come on, please put thick enough buy orders with your own money in CEX to prevent the price from dropping.

I don't think this focus on the topic and a good talking.

You can you up?

Is it not a truth? or the design of feed price is perfect and not allowed people to judge it?

People complained that witnesses updated price feed too fast when there is a dump happened on CEX. Now same people complain that witnesses updated price feed too slow when there is a pump? WTF?

Both longs and shorts are traders, we should treat them equally. That said, feed fair price, not too high, not too low. Don't change interval in downtrend nor in uptrend.

it's easy to say political correct words like "we should treat shorts and longs equally", but I don't think these words get the key points of this ecosystem.

in BTS, shorts and longs(here longs means BTS long, means the debt position owners) are naturally not equal.

longs has an leverage tool to use, and at the same time bear the risk of margin call, and at the same time longs create smartcoin supply which is base of this ecosystem.

shorts does not.

so the rules should firstly be fair to longs, prohibit longs from being unfairly exploited, this is relevant to what we will build - a financial system with amazing stable coins or a gambling house.

that's why I emphasize the principle "price feed should not conflict with the modified DEX price(DEX price plus premium/discount)".

and I feel this statement is self-explanatory: "if a BTS/smartcoin pair in DEX has good enough market depth and volume, it should play the most important role in price feed determination."

because any CEX may have fake volume, naked shorts, etc., but DEX does not.

and because DEX is our home field.

this is not ignoring price in CEX, actually any big price change in CEX can be transmitted to DEX quickly, if price change in one CEX is not transmitted to DEX, it can be ignored.
 
it's reluctant to ask BTSer to put money to CEX to sustain the price, DEX should be the front that reflect the final short-long battle result.

Quote from: bitcrab on May 09, 2019, 07:29:52 am

存在一个“转换价格”，就是从“随爆随吃”状态转到“黄单高悬”状态的价格，这个价格并不是一个固定的价格，受市场深度和情绪影响，也高度依赖于MSSR，但这个价格对于评价安全还是很有用处的。

目前MSSR=1.02的情况下，bitCNY的转换价格是大约0.4CNY不到一点，对应最高0.25的全局清算价，应该说还是很安全的。

如果把MSSR降为1.01，根据经验，bitCNY的转换价格大约会变为0.5CNY或者不到一点，对应最高0.313的全局清算价。

换种说法呢，如果MSSR降为1.01，在大约0.5CNY以下的价格区间内，都会有比较强的贴线抵押加仓的动力，为系统提供良好的流动性，但有一定的爆仓单累积的风险，最坏结果是在0.313处进入黑天鹅防护状态。在0.5CNY之上呢，不会产生爆仓单累积带来的风险，但贴现抵押加仓的动力也会变小。

bitCNY生态发展意味着这个转换价格需要慢慢变高，用MSSR越来越接近于1来实现。

这么说有一定道理。但是黑天鹅防护价格提高不见得是什么好事。

生态的发展一定伴随着黑天鹅防护价格的提高，这是必须面对的。

我想知道，如果BTC再次下跌到3千美元探底，BTS是不是一定会到0.05元人民币？

0.05哪够啊，再怎么着也得探到2分不是吗？

only got round to accessing my feed script today just now.

My feed was actually the highest just now without changing anything a few hours later...I know we all wish BTS never moved down but guess what...it does....are we gonna have this discussion and people calling hard-working witnesses names EVERY time BTS moves down? Let me know so I can be prepared. It's crypto...it's volatile...it goes up and and it goes down. I don't like it either but it happens.

Still... I disabled the outlier CoinEgg component of the feed as it seems untrustworthy. Feed now 4% above median

I don't think the higher feed price, the better, feed price should reflect the real market price. as feed price will have direct impact some operation, such as margin call, borrowing, force settlement.

it is not easy to judge what is "real market", but at least we can have some principles:

first, it is to get DEX price plus with smartcoin premium/discount as a reference, this is the most important reference.

second, it's not good to get average price of too long period and feed, an average of 5 min should be fine.

Time: UTC 9th May 12:15





Warning:delegate-1.lafona, sahkan-bitshares, witness-hiblockchain, zapata42-witness, xeldal at the time feed a 2%+ lower price than reasonable.

Fixed. High volume but huge spread in CoinEgg causing huge different in witnesses' price feed.

Compare trading price/volume at different exchanges:


Orderbook in CoinEgg:

this remind us that it's important to filter out the data which is inconsistent with real market, "the price feed should not conflict with the DEX price plus an bitCNY premium/discount offset" can be a good reference in judging the data from CEXs.