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« on: November 30, 2015, 02:26:46 pm »
This whole debate is getting out of hand. As soon as you start throwing out terms like "flaw" it presupposes one correct interpretation. Let's step back and ask some questions:
What is the precision by which we actually know the value of bitshares? Based on the daily flux in price and spreads/volume I would say the valuation has a margin of error of at least 10%.
Any price movements within +\- 10% are noise. It is pure gambling. Anyone with a couple million BTS could move the price by that much in an instant.
Regardless of the market rules, the price feed should be allowed to be off by several percent without breaking the whole system.
The parties involved who trade under the assumption that a price feed can be more accurate have unrealistic expectations.
You cannot peg against such volatile asset unless you control the market and play market maker with a large amount of capital on both sides of the trade.
It sucks to be surprised by a misunderstanding of the market.
Claiming there is no documentation is also bull. Forced settlement rules have been documented on bitshares.org since June under the first feature page linked directly from the home page. It wasn't hidden in this forum. Just because you claim there isn't proper docs doesn't make it so.
So who is to blame for building a business on smart coins and not even reading bitshares.org which has been translated to multiple languages?