@litepresence

You can play your scam with yourself be happy.

Bitassets are the repeated scam coins, not honest mpa. Get the facts right - bitcny & bitusd are dead scam coins, biteur will likely suffer the same fate as they're controlled by the same actors who implemented the BSIP76 scam.

BAIP2 completely failed; BSIP76 has once again had to bail out bad debtors by mandatory theft of asset value from bitasset holders. Bitassets are effectively scam coins with this arrangement.

There's the ongoing black swan incident in bitassets now - the mandatory theft of asset value from bitasset holders by bsip76 proponents. Global settlement would have at least retained some resemblance of honour/integrity, instead they're permanently identifiable as scam coins.

Ok, let's check the others how to design the stable coin, how to to prevent bad debt.

Maybe this can awaken someone.

MOV Stable Financial System

https://cdn.bytom.io/res/MOV-Stable-EN.pdf

Another NON solution. The solution was global settlement. Stop evading the consequences of bad gambling. BSIP76 shames CNY on an international level.

How did BitShares handle the market crash?

The Bitshares network remained fully operational, however bitUSD & bitCNY have not fared well at all.

BSIP76 established a 'minimum feed threshold price', once BTS price goes below this value the feeding mechanism stops accurately feeding the real reference feed price, instead resorting to a false fixed feed value.

This has triggered twice now, once back in late 2019 (https://bitsharestalk.org/index.php?topic=29654.0;all) which lasted several months, and now once again for more than a week due to the recent price collapse.

This is mandatory socialized loss of value to bitUSD/bitCNY holders to benefit debt holders (bad gamblers), as such these bitassets are no longer legitimate stores of value.

Vote weight should have been revoked once placed into debt positions, as bitasset holders had no say in this mandatory theft of value.

bitUSD with a fixed feed of 29 BTS/bitUSD at the lowest BTS price of $0.009265 (on 13th march 2020) equates to $0.268685 , 73% below the peg, even if you account for an MCR of 1.6x0.268685 that's only 0.429896 ie this is blatanty global settlement territory.

Since the price feeding and global settlement mechanisms have been cheated there exists no logical reason to hold these assets long term as that simply leads to theft of asset value instead of an opportunity to grow ones BTS balance.

What's pretty nuts though is that the official bitshares.org website still doesn't mention any of this thread's concepts/history, rather it continues to mislead investors with an old vision of what bitassets should have been. https://bitshares.org/technology/price-stable-cryptocurrencies/ Changes have been proposed to correct these inaccuracies, some feedback would be great https://github.com/bitshares/bitshares.org/pull/111

In the meantime, all participants can rest assured that BitUSD is always worth at least $1, and can consider the premium for entering the ecosystem as a one-time fee.

https://www.youtube.com/watch?v=G4Uw3m_dPpw

Why would you add fraudulent assets to the contest?

Since the current core dev team is not renewing their WP in 2020, who will implement these BSIPs?

It's time to change strategy... I think it's time to activate the BAIP2, let us try this one as it is obvious that threshold feed price is no longer working, or better still deactivate BSIP76 for now, I think debtors have been given enough time to pay their debts...  BitCNY and BitUSD are now devalued by over 30%, they are currently useless as they cannot perform the role they are originally meant to play ... As stable coins meant to be used as a hedge with BTS, it may originally worked by having a threshold but right now it's no longer working

BAIP 2 does not negate bsip76, you would need to propose a new BSIP76 style vote or a new BAIP for a new feed price.

BitUSD is devalued by 53.62%.

BTS:USD=0.016
28.98551*0.016=$0.46376816‬

The current price feed threshold aught to be be set to approx ‭62.5‬ BTS/bitUSD.