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Topics - btswildpig

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61
DAC PLAY / Play hangout is on 12.27 10AM EST
« on: December 27, 2014, 01:43:34 pm »
Fuzzy is out sick , wish him well .....
Hackfisher said the hangout can still on if anyone is interested .

Play hangout is on 12.27 10AM EST

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Some people often view increasing in market cap as "gained value for the system" , well , it's not .

Let me dumb this down for you . The whole idea of market cap is to calculate the total price of the available share supply at current price .

It would be accurate if the available share supply equals to the supply in circulation . But in reality , there are only 1/10 or even 1/20 shares in circulation . (some coins are even worse , because they can not even sell 1/50 or 1/100 out without  collapsing the price )

If we factor in the 1/20 ratio , then a system worth 47 million USD on market cap is only worth 2.35 million USD in the sense of real money .

When we want to expand the spending because we're feeling rich by increasing in market cap in short term , please always remembers that cold hard fact ---- We don't have that much to spend to begin with . Please do not feel any dilution is insignificant just because it's a "low percentage of total supply" , but also factor in "how much percentage of circulation " , you'll see the answer .

The latest pump increased 12.5 million USD in market cap with only 0.6 million USD in cash .  That's another example of how 1/20 becomes the pattern in the BTS eco-system .

So , please do not feel angry when the shareholders make it tough on some "only 3000USD a month income job" of a 100% pay rate delegate . No matter how much the market cap increases , the pattern is still the same , 1/20 , it's easy to lose sight on that .

63
+5% +5% 赞!学习了,楼主所说的衍生品不知是不是期货,但无论什么衍生品都要有相应的现货资产作为标的物,是对标的物的一种交易衍生合约协议,履行协议进行利益交割。它们是有利益交割的市场行为的,有市场行为实现价格调节和输送。这和BTSX系统为了锚定而锚定进行的“喂价限价”有着本质的区别,喂价限价没有利益转换直接填写就实现了价格调节,这是一种对价格的操作!真正的市场行为是BTSX、BITUSD、USD三者相互的市场卖买,楼主只说“BITUSD对BTSX”及“USD对BTSX”履行了衍生品协议义务,但忘了“BITUSD对USD”也是要履行衍生品协议义务的,如果产生了衍生合约,交割时你不用BTSX,你就要把你的现货“USD”换回衍生品"BitUSD",这才是衍生品和现货资产价格相关联的,而不是喂价限价哦,喂价限价在发达国家自由经济市场应叫价格操作吧!

不是所有的衍生品都以相应的现货资产为标的物,也不一定涉及与现货利益交割的市场行为。
像中国金融市场里的“纸黄金”和“纸白银”就是最好的例子了。
当你在某个提供纸黄金和纸白银的银行里面买入这种衍生品的时候,你买入和卖出的定价都是银行根据国际市场的价格喂给你的。

我明白你提议的意思,自由经济市场听上去很美,但你忽略了一个关键点:你在描述的衍生品市场并非一定是自由经济市场,它只有在充裕的流动性、活跃性下才会成为自由经济市场。

这用最简单的俗话来说:市场的供应和需求都需要有能够彼此制衡和影响的流动性,买卖双方在比较活跃(fairly active)的市场竞争中进行交易,才能实现一个自由经济的市场。在不足100-200万美元、活跃程度低的BitUSD市场里,引入跟一个市值几千万美元的外盘里的完全自由竞争市场的机制,你不应问“为什么不可行” , 应该问“为什么有理由行得通”?

price feed在本阶段只是起到了一个培育和引导的作用,就像伦敦银定盘价在过去一百多年都是由几家银行的会议控制的定价一样。伦敦银定盘价并非由实际市场的成交价格直接反映出来的,而是几家银行根据每天订单的状况开一个联席会议然后决定出来的,然后世界上大多数白银衍生品市场的交割价格采样都是根据伦敦银定盘价而来。伦敦银定盘价这个制度在一百多年后的2014年才开始废除。白银市场是一个高度发达、历史悠久、流动性极强的金融市场,然而到了2014年还留下一些令人诟病的定价机制(美国那边认为这是一种操纵市场的行为)。更何况是开展只有3个月、流动性奇缺、交易不活跃的BTS内盘市场?

清风喜欢说一堆普通人看上去高深莫测的金融术语来黑BTS,但希望你不是那种看了几本国内专家写的操盘手指南就来人云亦云的那种人。如果你要黑,直接黑好了,用错误的理论去套在BTS身上猛黑,真以为没人能看出来么?

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General Discussion / Proposol by ALT:The controlled enhancement for PEG
« on: November 17, 2014, 06:36:28 pm »
Proposol by ALT:The controlled enhancement for PEG

Although I think the peg theory works , the fluctuation is not much , and you can always sell the peg asset for BTS at the open market rate according to the price feed within 30 days .
But this kind of effort is not that acceptable in the eyes of the general public . Because the peg demand from the public is that it can be converted to fiat at all time for 1:1 .

So , what's causing the difference between the ideal demand and the reality ?

1. Generally speaking , the people who believed in the peg should have incentive to provide 1:1 exchange for fees . Why didn't they ? Because they can't be sure they should put in how much fiat money for this kind of exchange  . If the issuing amount of BTA is to much for the market to bear , then the people who provide this exchange service would have a lot of BTA but no fiat money .

2 . Even if some one provide such a exchange service , the issuing amount still can not meet the demand if the issuing amount is too small (comparing to the potential demand .).  For example , there are just 0.4 million BitCNY now , major exchanges would not consider to use it as some sort of redeem code to be a on-ramp or off-ramp . If too many people on the market don't think the price of BTS will rise , they don't have the incentive to issue new BTA .

So , as we can see , these two issues are related to the issuing amount .  Because if the issuing amount is unpredictable , it leads to uncertainty for those who offer to exchange it with fiat .

But what if we can control the issuing amount base on market demand ? The delegates can feed a maximum and minimum amount for the issuing of BTA according to the actual demand for BitCNY and the need for circulation .

When the issuing amount is lower than the minimum amount , the system encourages the shorts to execute by a discount on interest or lift the limit for the short order to expire after 30 days .

When the issuing amount higher than the maximum limit , the short orders should not be execute .

Because being an simple exchange between fiat and BTA is profitable , those who want to provide such service should gave financial proof to the public , the delegates gather those numbers to provide maximum demand parameters for the system.

Those who want to hold and use BTA , should provide their demand for BTA as well , so the delegates can gather them to provide minimum demand parameters for the system .

I believe this way we can have a lot of individuals who will exchange BTA for fiat , and merchants who will use BTA as a payment tool.

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由于美国的EST时区切换了(美国人每年干几次啊),所以mumble会议时间换算成北京时间是00:00

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