Quote from: alt on November 29, 2018, 08:46:12 pm

I support reduce MSSR to 2% instead of any complex feed price adjustment(manipulation)

I support reduce MSSR to 5%.

• The simpler the rule, the more robust it is. Simply adjusting MSSR has fewer variables affecting the market.
• MSSR reduced from 10% to 5%, the number of BTS sold by closed margin postions will be reduced by 5%, and there is still 5% arbitrage space between CEX and DEX.
• At present, the application scenario of stable-currency is used by digital currency investors to hedge against the market when they fall. For hedging, 5% volatility is not unacceptable. We need precise anchoring only for payment.

Yes, I accept any MSSR value between 2% and 10%.
the best way is to announce reduce step by step from 10%, this can help encourage people eatern the margin call orders.

I have voted for you, but still worry about the efficiency of this architecture with the old API server.
wish you can improve it.

Quote from: alt on November 30, 2018, 03:18:37 am

Quote from: finn-bts on November 30, 2018, 01:44:16 am

Quote from: alt on November 29, 2018, 08:46:12 pm

I support reduce MSSR to 2% instead of any complex feed price adjustment(manipulation)

I think the BSIP42 this time is just an emergency plan, and there will be a better solution later.

I don't understand why we need this temporary complex way when we just need to simple reduce the MSSR.
As my observation, it's already a very difficult task for those witness to give a reasonable real market price.
You should never  expect more from them.
We must limited the power from them or they will screw up again.

we learned a lot in the long painful process.

if what we want is just increase the price of the stayed margin call orders, the 2 ways really have similar impact, after that margin call orders being eaten, they have different impacts:

1. raise BTS feed price can increase bitCNY supply, tuning MSSR does not.

2. dynamically tuning feed price include the negative feedback logic that can help peg, setting a fixed MSSR value does not.

we design complex solution because the world is complex.

I know that you do not like BSIP42, however this time I am proposing an updated version, it limit the feed price not higher to market price*MSSR to avoid that margin call orders stay their without being eaten, it limit the feed price not lower than market price to avoid unreasonable margin calling. I believe this remove the impacts that you dislike.

however this is still a temporary solution, later some new solution will be discussed sufficiently to replace this one, it should include:

1. dynamic MCR
2. new measure to handle black swan that do not stop borrowing.
3. MSSR change

I understand that we cannot make bitCNY a stable coin that always own sufficient collateral, good pegging and sufficient supply, but we have chance to reach a point that is close to that point, and that really need careful design.

hope you can understand and help in the process.

why don't we improve step by step?
I guess reduce MSSR will be more easy to reach the concenses.
But dynamic tuning the MCR is not acceptable for me,  at least you need to give enough time to the shorters before adjustment the MCR.
you just can't make me margin call when you decide to increase the MCR next seconds. I consider this as   manipulation.

2%空间可以的, 有1%的套利空间就会嗷嗷上,比如强清有1%的利润空间就会前赴后继,再者以前的喂价普遍偏低.

吃爆仓单和强清套利差别挺大。
强清一般是内盘BTS/CNY市场强清买，在同样的市场高价卖。
吃爆仓单套利一般需要在内盘和外盘搬砖，既耗时间精力又有各种手续费成本，还有被平台卡币风险。2%价差空间已经没太大吸引力了。

Quote from: alt on November 28, 2018, 05:11:17 am

Quote from: bitcrab on November 28, 2018, 04:31:11 am

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

I known MSSR is a parameter of feed price, but it's not decide by the witness. witness just execute it.
witness known nothing about the trade.
it's already a difficult task for them to give the real market price.

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

Quote from: alt on November 26, 2018, 08:38:45 pm

Quote from: alt on November 26, 2018, 07:28:29 pm

Quote from: abit on November 26, 2018, 06:09:26 pm

@alt if you really don't want bitcny to go GS (globally settle), you'd better vote for the witnesses who are feeding price higher than GS price, and don't vote for the witnesses who are feeding price lower than GS price. Of course, if you want GS, you can ignore this comment.

1. the best strategy is max(realprice, GS price)
2. the second is real price
3. the last is manupulation price

wirntess please give a feed price with strategy max(real price, GS price)
please leave your account name here if you agree and have done this.
I will vote for the first 9
others witness who still agree the BSIP 42 will never get my vote

This kind of price feed is exactly what BSIP42 describes, so you are pro BSIP 42.

no, it's totally different.
witness should give a real price without negerative feedback when we get rid of the black swan risk.
the reason why we should give a price above GS price now is to get rid of the result of BSIP42, and rescue bitCNY from GS
For the bitCNY holders, they can't get more than eatern the margin call order at GS price.
so there are much possible we can escape from the blackswan with the help of bitCNY holders when the witness sell margin call order nearby GS price.

Sure they could have a small group for fast connection to maintain the network.
but excepet that, all other things should be talked in public. it's not their private things like how to handle the comming bitCNY black swan event.
I ask to forbiden this private talk, which they have already screw up bitUSD.