So the smartcoins are actually loans for 0.95% of their respective currencies/assets? This seems very bizarre. In any case, I think the website owners should update their descriptions, since it's most likely illegal to misinform investors like this. It really gives a bad impression (or at least it did to me) of what seems like a very promising project.

Yes, it is bizarre, but only bitCNY has this 5% offset, because committee decided to screw it up this way . Other smart coins have less or no offset. You should check a smart coin description before you buy it, and keep in mind that any smart coin can be screwed up this way later without notice.

Yes, asset creation fee is a little over the roof at current price, even the cheapest one (>5 characters).

Quote from: bitcrab on December 18, 2017, 04:05:57 pm

Feed lifetime   525600 min(1 year) #to make a 'static' price

Quote from: bitcrab on December 19, 2017, 02:42:44 am

3.a if in future XCD relax peg to bitUSD, one choice for us is to create another smartcoin which peg to XCD but backed by BTS to replace bitXCD

If the peg changed in the future, wouldn't it be enough to start feeding new price? I understand that in such a case feed lifetime set to 1 year could be problematic. Could we change it to something more reasonable, e.g. 1 month?  I guess that this kind of stuff doesn't change overnight.

No, it would not be enough just to start a new price. MCR would probably need to be changed too.

I'm sure the info is available somewhere, but I'm too lazy to go searching... :-/ Nevertheless, I'm seriously interested in answers to the following questions:

1. What is the economic sense in an asset that has a fixed exchange rate to USD? Why should anyone not simply use USD instead?
2. Where does the "magic" value 2.7 stem from? Is there an economic reason for that value?
3. Can we be extremely sure that this value is not going to be redefined in the future?
3.a If we can't, we should have a plan how to handle such changes. Preferrably come up with a plan before creating the asset.
3.b If we can be sure, see question 1.

I guess, questions 1-3 should be addressed to Caribbean governments. But yes, we should be ready for scenario when they decide to relax the peg to USD.

MSSR:100.5% #even when margin call happen, shorters will lose little.

WOW! 200x leverage! This is cool. But what if the peg of XCD to USD will be relaxed in the future (like it was in the past)?

Quote from: yvv on December 15, 2017, 01:50:34 pm

Quote from: MarkoPaasila on December 15, 2017, 12:51:41 pm

Quote from: yvv on December 14, 2017, 05:24:18 pm

Great news! I have one concern though. It is not clear from the proposal how decentralized will be your bots. Since you plan to use funding through WP, I would expect the resulting product to belong to community and server nodes to be easy to run by anybody. Btsbots is great, but it was ran in a centralized way, and wee see what happened.  Could you make any comments regarding this concern?

We will not provide servers for the purpose. Everyone has to run the bots on their own computers or servers. Many of the market making strategies are suitable for use on computers that aren't on all the time. So it will create a very redundant swarm of decentralized bots, where everyone holds their own keys, and many their own nodes.

So market making pro's can run this on a server, and normal people plus noobs can do it on a laptop. There will be a CLI version and an installable GUI version.

So do I understand correctly that your design does not need a dedicated server node (unlike btsbots)? Is this correct?

Correct. We think it's bad practice to give private keys to a third party. However, if the lack of a bot-as-a-service is a showstopper, we are ready to consider it.

No, with btsbots you don't need to give private keys to a third party, but it still has a server, where web page is hosted, bot config files for every account, price feed scripts etc. This is makes it very convenient to use, because you can run your bot on your private server, and control it from any device via btsbots.com web page, but this makes it non-trivial to fork. We can't just download the source code and run the bot, because it requires data from btsbots.com, which is down (which is very pity).

Great news! I have one concern though. It is not clear from the proposal how decentralized will be your bots. Since you plan to use funding through WP, I would expect the resulting product to belong to community and server nodes to be easy to run by anybody. Btsbots is great, but it was ran in a centralized way, and wee see what happened.  Could you make any comments regarding this concern?

When you return OPEN.BTC to openledger wallet, it is the same as you destroy it.