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Messages - Troglodactyl

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General Discussion / Added balance as portion of total supply
« on: October 22, 2015, 03:47:27 am »
I saw people talking about this, so I added it to play with the ui code a bit.  It displays in your account overview as a new updating "PPM" (Parts Per Million) column for each balance.  So the new column is just (balance/current_supply*1,000,000).  Showing it as a straight percentage would just be depressing for anyone who isn't a whale.

Not sure I want to pull request it since 4 columns may be a bit messy there, but it's there for anyone who wants it.


Use the "Close position" button instead of the "Update position" button.  This just pays off the entire position and returns your collateral.

General Discussion / Re: Fee Adjustments
« on: October 21, 2015, 12:49:31 pm »
I would set the fees back to their initial 2.0 values at least until the rising value in BTS has them back around 20 cents and then reevaluate whether to update them to maintain that level.  I don't think people can be expected to pay as much to use the network until its value and utility are recognized, and that recognition requires that people feel free to experiment with the network.

I will likely create a committee member eventually, but the last few weeks I've been short of time and haven't caught up on all of that yet.

Technical Support / Re: What is the call price and how is it determined?
« on: October 20, 2015, 12:37:59 pm »
I've removed the Fee Rate since it was just confusing in the Exchange, for the record it's the price at which an asset, say USD, will be converted to BTS in order to pay for fees.

The settlement price is the price which used to be called the Feed Price.

The Margin Call Price is the Settlement Price * Squeeze Protection Ratio (initially at 1.5, now somewhere around 1.1)

Your margin position will get margin called if the call price of the position falls below the margin call price.

First off. Thank you for this answer. I have learned a bit from your answers, but i am still a bit confused.

1. I do not understand the fee rate. I cannot imagine why there is a fee or what it is for. Does this account for the penalty that we pay when we get margin called of 5%. Is that what this fee represents? Could you explain this fee please.

2. I understand that when we loan USD into existence we need to put up collateral of 1.75 the value. If i understand correctly should the price change so much that our collateral becomes less than the margin call price  (1.1) we would get margin called. That means our position would be closed, the collateral would be used to force us to buy the USD we need to close the position. I don't understand the price that would be used and who would sell us the USD. Is it so that we would simply get the best price at the market?  So whoever has put up the best sell price for the amount of USD that we need to close the position would get our BTS from our collateral. What happens if the collateral is less than the best sell price? Or if there is no seller? What would happen if we had USD on our account. Would I simply use the USD from my account and get my collateral back?

1. The fee rate has nothing to do with margin calls.  All transaction fees are ultimately payed in BTS, so if a user has no BTS he automatically trades the asset in which he's transacting for BTS to pay the fee.  Each asset has a "fee pool" of BTS to support this, and the trade takes place at the fee rate.  The fee pool I believe is funded by the asset issuer.

2. Margin calls are triggered by the price of the cheapest available asset on the internal market, not by the feed price.  When a margin call is triggered, the collateral will be used to buy any of the asset that's available for sale cheaper than [feed price * maximum short squeeze ratio] to cover the position.  It will not touch any other assets in the users account, even if they could be used to cover the position.

This isn't a complete answer, but I hope it helps.

General Discussion / Re: Please provide liquidity in the bitUSD market!
« on: October 18, 2015, 10:10:29 pm »
guys, pay attention, you still have no word from witnesses or BM, they can adjust force cover price to 1/1.5 again.

Sure they could if the majority of price feed publishing witnesses agreed, but why would they do that?  Anyone who does that now should get voted out, since it's basically an attempt at sabotage at this point.

General Discussion / Re: Please provide liquidity in the bitUSD market!
« on: October 18, 2015, 07:48:12 pm »
Dunno about you, but I don't think going short on bts now is a good idea :)

Also he's suggesting shorting USD using BTS as collateral, not selling BTS short.

Ideally, I think what we need is to build a new and improved alternative to RetroShare integrated into BitShares.  It should use chain registered account names as identities, with the associated keys used for end to end encrypted communication and file sharing.  Forums and messaging can be implemented largely as they are in RetroShare, with users connecting directly to their associates using DHT and sharing forum data to which they are subscribed.  For mobile support it should use the same full node/light client model as BitShares itself.

General Discussion / Re: $1 Bitshares possible?
« on: October 18, 2015, 03:42:58 am »
your math assumes a constant supply .. which BitShares clearly has not .. if the fees paid are higher than the pays for witnesses and workers, the supply will be reduced which will lead to higher market cap at same price :D

I could be wrong here ... but just to voice my thought ... shouldn't a reduction in supply move the price per share higher while market cap stays the same?

Yes, you are correct.  I think xeroc must be thinking of the "market cap" of his own holdings.  :P

Technical Support / Re: Oct. 16th Hard Fork?
« on: October 18, 2015, 02:26:26 am »
I'm not sure, but the first thing I'd try is renaming or deleting the chain folder and letting it sync from scratch just to be sure everything is in a consistent state.

Cool, so now how do we vote on these parameters?

Currently by voting for witnesses who support the values you want.  But there's a pretty solid case for moving that to committee members and leaving the witness role more purely technical and neutral.  Moving those parameters to the committee would of course require an update.

General Discussion / Re: Using BTS for savings and loans
« on: October 17, 2015, 11:50:09 pm »

Is there a reason you want to keep mining instead of migrating?  A large effort went into BitShares methods of providing better and more scalable security than mining more efficiently than mining can, so you'd miss out on that if you used the BitShares chain peripherally without running natively on it.

Does the MUE bank invest the deposits to earn the interest, or does it pay it out of newly minted MUE?

General Discussion / Re: BitShares 2 Release Coordination Thread
« on: October 17, 2015, 11:02:24 pm »
wackou, bue, harvey-xts, delegate.ihashfury, datasecuritynode, bts-bitshares-argentina, fox

Please update to 110% if you like your witness is way too many hours now.

especially @wackou, and @bue

Update: If you have done it but have not been in the active list since, please post here.

I am not sure what you mean exactly... Do you want us to update the core exchange rate in the published feeds to be 10% higher than the external feed (instead of the 5% it is now)?

No.  There are other parameters in your feed updates other than the price ratio.  The MSSR determines the price at which margin called short positions will be forced to buy to cover.  Initially I believe that was set to 150%, and now most witnesses have it at 110%.  Having it at 150% caused serious problems as you may have seen.

Market competition will cause sellers of usd to move closer to feed.   Why let someone else pocket 1.5 when you are still happy with 1.4.   If you want to go short now you must sell at a price people will but

This is not how the system works.  There is no reason to compete to sell assets cheaper than the MSSR level as long as there are active margin calls because orders will be matched at MSSR.  If MSSR is 150% as it was before, that guarantees that there will never be liquidity near the feed, which then causes ridiculously high collateral requirements because the market is illiquid.  Then those additional margin calls caused by the inflated collateral requirement flood the market with BTS at prices no one would sell at by choice and crash the price, causing a cascade of additional margin calls.

There isn't a link in the assets list, but you can view the details of BTS through the ui just like any other asset.

dat is ridiculous few hours right after release the price is being sent to the inner core of hell

i dont see any legit reason for that

do any of u have clue on what happened
Maybe it is because people can finally access their wallet, and sell bts.
In bts 1.0, it is so hard to access my bts. I have several months not touch my bts, not for i do not want, but i can not. The 1.0 client is so hard to work on my computor.

Good news is that the liquid increases. We will attract more larger fish to join.
After these people sell, we will find how much indeed bts is.

I think it's mostly because a bunch of shorts were liquidated and forced to sell their BTS at 2/3 of its market value because of an issue with some feed parameters a lot of the witnesses didn't understand.  After getting enough witnesses to update their settings and fix that problem, we now seem to be recovering.

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