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General Discussion / Re: please restart BSIP42!!!
« on: November 29, 2018, 05:57:22 pm »
BSIP failed bitUSD, why should it be reactivated?
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frankly speaking, bitCNY is already in black swan status if the feed price reflect the real market price.
however, I don't think it's good to return to feed real market price and leave black swan happen for bitCNY, as we have seen in bitUSD, after black swan happened, now the peg break, borrowing stop, hard to revive.
I suggest to protect bitCNY from black swan by setting a black swan protection price, say black swan protection price = global settlement price*1.11.
feed price = max(market price, black swan protection price)
then when market price goes up, the margin called orders will be eaten step by step, the black swan protection price become lower and lower, and bitCNY has chance to revive.
Thoughts?
In any market you can't never be sure of anything, if the price never goes back bitCNY loses forever its PEG
Disagree.
Increase MSSR to 30% (1.3) so that the margins are eaten.
We need a robust system that will work in the future. This stop gap doesn't do anything to improve the system it just breaks the promise of it.
tomorrow the poll will be closed, please vote to express your opinion.Create a worker proposal based poll, not an easily manipulated forum poll - I had to re-cast my vote for some reason and there's a new poll option now.. not ideal. 20% is way too much for force settlement offset 👎
You are turning a free market into a centrally planned economy
what you called free market is a forrest where beasts can kill and eat people.
We have the choice, If use the highest price as the last feed price, we can keep the forcesettlement and the dynamically feed price.
Bts system can only be short after the feed price reform
You can do more and short before you reform.
Now that bitcny is stable, why not make a way to do more?
My method is to add the borrowing function to bitcny to bitcny lender interest.
The bitcny mortgaged by bts should be loaned according to the interest of the day like zb
The mortgage function of bts is the role of the printing machine rather than the interest-free loan.