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Messages - yvv

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136
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what I suggest to solve this problem is to raise the settlement compensation offset to 5%, only for bitCNY

Do you want it to drop below the feed price even more? Good luck with that.

137
Sure, you can send BTC to bitshares exchange through openledger gateway.

138
Technical Support / Re: I need advice
« on: November 11, 2017, 09:21:01 am »
Just check the order books and do whatever is more profitable for you (the way which you get more BTS for your ETH).

139
Oh, I thought it would automatically convert my whatever holdings to btc when I withdraw through it... Well if I need to sell all my bts for btc and then withdraw through that system then yes, there is no problem at all

EDIT: What happens with the people who are already on the DEX? Let's say there's someone who holds bitBTC in their wallet, then you implement this awesome new feature - they won't have equal amount of btc in the "gateway wallet". And if I sell them my bts for bitbtc, I'll receive no btc to mine. Will they need to move their bitbtc out to a centralized exchange and go in again, now through the gateway? Am i missing something?

To withdraw your BTS or bitBTC or whatever through BTC gateway, you would need to find somebody who wants to buy you BTS or bitBTC or whatever for BTC from you. That somebody would need to deposit exactly the same amount of BTC which you want to withdraw. This works the same with centralized or decentralized gateway.

140
Yes, I was inconsistent with my original point :)

What if I deposit x btc and buy bts with it, then bts goes to 330$ - how can that be adressed? By putting up some disclaimer or something?

What exactly do you want to disclaim? That you have $330 worth of BTS and somebody else has x BTC? There is no problem to address here.

141
Tried to use "uptick history" and python bitshares library directly to get account history, in either case it prints maximum 1000 recent transactions (default limit is 100).

@xeroc could you comment why this library behaves like this? How are we supposed to report our profit to tax authorities?


Don't be ridiculous.  Obviously you do it more frequently, rather than wait a whole year and then go "oh! I should find out what I did all year for tax purposes".

Every cash register in the world reports daily transaction summaries, and that's the way retail business has operated for a long time.

If your trading activity is that hectic that the last 1000 transactions isn't enough and you are making more than 1000 trades in a 24 hour period, then you should write your own bot to watch your transactions for you.

Self assessing your profit/loss by summarizing your activity either daily, weekly, or monthly is something you should be doing all along.  How else can you gauge your performance properly?

Yeah, right, every user should write his own bot to watch his transactions, and his own gui, and his own charting tools, etc. This would make bitshares so fucking awesome user friendly. Why Xeroc made his uptick tool? That was a waste of his time, because converting cryptic bullshit which API spits at you into human readable numbers is so fun, that every user should try this on his own. Sorry that I did not get it right.

142
Tried to use "uptick history" and python bitshares library directly to get account history, in either case it prints maximum 1000 recent transactions (default limit is 100).

@xeroc could you comment why this library behaves like this? How are we supposed to report our profit to tax authorities?

143
On traditional exchanges margin traders are gamblers who are attracted by high leverage. They invest $5K to make $50K trade. Bitshares can't offer similar leverage because of volatile collateral. Bitshares can't even offer similar leverage to other crypto exchanges.
 

144
For those of us who want to chip in but don’t fully understand the mechanics. How are the bit assets pegged above the price at the moment? What has been put in place to stop it dropping and why can’t it be used on the opposite side to stop it rising. Just so we all understand the situation and problem better. Thanks.


Sent from my iPhone using Tapatalk

BitAssets are pegged from blow by forced settlement, which means that any holder can exchange them for BTS at a feed price (with offset, delay and limit on volume). This peg works pretty well, because when the value of bitAsset drops below the peg, you buy and force settle -> collect fast profit. There is pretty much nothing which keeps the peg from above. To keep the peg from above, some whales need to issue and short sell more, which means that they need to have motivation to do this, and this is a difficult part, because there is no easy way to make profit from short selling.

145

Does anyone have any suggestions on how we could fix this issue?

I will never stop repeating: fix margin trading flaws first. Debt should be created ONLY when bitAsset leaves the issuing account. bitUSD sell order is not your debt and should not be counted in total bitUSD supply until this order is filled. We should not need to deposit 2x collateral upfront to issue bitAsset. If you have 1000 USD worth of BTS, you should be able to go ahead and put 1000 bitUSD sell order for BTS, and when this order is (partially) filled, BTS should be automatically added to collateral. We should not need to add funds on top of 2x collateral to close the position, because this is ridiculous.  And there is really no need to keep a separate collateral pool for each bitAsset, because all you care about is that your total debt is properly backed. In case the value of collateral falls, the most liquid bitAssets should be margin called first.

146
General Discussion / Re: BEOS - Alternative proposal for Bitshares 3.0
« on: November 02, 2017, 08:30:31 pm »
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Basic idea is to upgrade Bitshares with latest in blockchain tech by cloning EOS and making BTS base token of the new blockchain.

Why do you want to do this instead of just using EOS blockchain?

147
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Our BitAssets are successful in making sure the value never drops below the price feed that the asset tracks. (This is because anyone can force settle BitAssets for BTS if there are no willing buyers)

In fact, the value of bitAssets drop below the price feed quite often. But yes, you can force settle them (with delay, offset and volume limit), so it is easy to correct the price when it drops below the feed.

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If we want people to use BitAssets surely we need to fix this.

Exactly! And to fix this, we need to fix margin trading mechanics, which is awkward in BTS. Then, all those margin traders will hopefully come from other exchanges and issue a hell of bitAssets on us.

148
General Discussion / Re: Bitshares as an "off ramp"/bitUSD
« on: November 02, 2017, 08:18:39 pm »
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My impression is that sending my BTC into Bitshares and then exchanging it for bitUSD might be a good way to do this

Yes, it surely is. I do this all the time myself. Converting bitUSD back to BTC or any other token when you need is easy.

Though I must ask - how often have you had a margin call? Have you found yourself losing money on bitUSD ever? I'm new, and I want to be careful and know the risks.

You don't need to worry about margin calls, if you keep bitUSD. You can be "margin called" if you borrow bitUSD, and this is another story.

149
General Discussion / Re: Bitshares as an "off ramp"/bitUSD
« on: November 02, 2017, 08:24:05 am »
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My impression is that sending my BTC into Bitshares and then exchanging it for bitUSD might be a good way to do this

Yes, it surely is. I do this all the time myself. Converting bitUSD back to BTC or any other token when you need is easy.

150
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Can someone provide a detailed guide that allows technically average informed people to get this export done?
PM me, if you want tutorial/step by step help.

Make it public, many people would be interested to know this.

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