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Messages - litepresence

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46
General Discussion / Quadratic Pegged Assets
« on: February 07, 2020, 05:15:49 pm »
I've been contemplating issuing a concept I'm calling "quadratic pegged assets".

The aim is to back them with BTS and have the IPO come in near 1:1, then control the price feeds with a combination of "MPA" logic like "bitassets" or "honest mpas" and "APA" logic like "hertz" or "hero".

So the risk and reward of each is leveraged by a squared factor instead of typical coefficient leverage provided by centralized exchanges

this means for example:

BTC:USD goes up by factor 2X the QPA goes up by factor 4X
BTC:USD goes up by factor 10X the QPA goes up by factor 100X

and then on the down side:

BTC:USD goes down by factor 0.5X the QPA goes down by factor 0.25X; 75% loss


These are the 4 equations I'm currently considering,
each contains a coefficient times a market pair price; quantity squared:
(coeff * price) ^ 2

Bitcoin to US Dollar Quadratic Pegged Asset
Code: [Select]
(0.0001*BTC:USD) ^ 2
(0.0001 × 9,732) ^ 2 = 0.95 IPO


Bitshares to Bitcoin Quadratic Pegged Asset
Code: [Select]
(300000×BTS:BTC)^2
(300000*0.00000333)^2 = 0.99 IPO


Silver to Gold Quadratic Pegged Asset
Code: [Select]
(100 * XAG / XAU) ^ 2
(100 * 0.01128) ^ 2 = 1.27 IPO


S&P Commodity Index to S&P Stock Index Quadratic Pegged Asset
Code: [Select]
(10*SPGSCI/SP500) ^ 2
(10*296.87 / 3,335.15) ^ 2 = 0.79 IPO


47
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: February 04, 2020, 01:50:41 am »
it's likely that your products can't get "pegged well".



48
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: February 03, 2020, 05:52:49 pm »
  - Monetary policy: all the rules defined in the blockchain and in the post **ARE** indeed components of the monetary policy, including price feed, borrowing, margin call, force settlement, the related parameters and incentives.
  - Fixed exchange rate: people would be able to exchange between one of the created assets (e.g. HONEST.USD) and another asset that is pegged to the target asset (e.g. [gateways].USDT) at around 1:1 almost all the time, aka the "peg" with liquidity;
  - Free capital flow: anyone can freely place orders onto the order book to exchange between one of the created assets (e.g. HONEST.USD) and another asset (e.g. [gateways].USDT) at any price, any volume, and any time.

We operate under the assumption that markets should determine exchange rates, NOT state actors.  We as price feed operators have a duty to provide HONEST price feeds representative of live median global rates.   Given honest feeds, market participants have the greatest incentive to trust that borrowing of our MPA's can be a wise business venture and that the MPA will in the long run hold value relative to global pricing. 

Monetary policy can be either restrictive or permissive.   We choose permissive liquidation of mal investment wherever possible:

Whereas Bitassets have a highly restrictive MSSR of 101, we choose MSSR 125; as free as possible to induce liquidation of individual mal investment; without risking market meltdown from global force settlement.

Whereas Bitassets charge a restrictive "service fee" upon liquidation paid to the borrower:   Honest MPA's charge no service fee to encourage free and fair liquidation. 

Whereas Bitassets delay liquidation restrictively by up to 24 hours, Honest MPA's liquidate within 60 minutes upon default.   

Whereas Bitassets periodically peg MPA's to the underlying collateral asset to prevent liquidation of mal investment, we promise to never take such actions.

Whereas Bitassets have closed source pricing mechanisms.  Our pricefeed scripts are open source, our whitepaper is clear as to our intentions, and our live data matrix supplied by each of our feed producers is updated hourly at www.jsonbin.io

So, yes... there is of course monetary policy involved in Honest MPA's.   We like to believe ours is a niche offering in an entirely new direction.


49
General Discussion / Re: Guys, Let's play with bitEUR!
« on: February 02, 2020, 04:36:55 pm »

These were the really scame of the community.




The charts speak for themselves.

LONG HISTORY OF SCAM

LATEST PUMP AND DUMP SCAM

HONEST MPA PRICES
Which reflect REAL values on global exchanges



50
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: February 02, 2020, 03:37:03 am »
You cannot use MSSR > MCR

Thanks for the feedback, and yes this issue has been discussed internally.

After consultation within our team we have agreed to reduce MSSR to 125 pending further review.  The decision was made to mitigate the possibility of MSSR>MCR causing blockchain related global default issues.   

For borrowers, this means the risk you are exposed to upon loan default has been reduced from 50% to only 20% below feed price.

We feel this is the middle path between ensuring quick liquidation of malinvestment and ensuring that the market cannot be forced into global settlement. 

We reserve the right to alter MSSR in the future, but we will not increase it more than 5 units weekly hereafter and will not alter it again until we have modeled the issue of global default thoroughly on testnet.


51
General Discussion / Re: Guys, Let's play with bitEUR!
« on: February 01, 2020, 07:44:25 pm »


Jerry your long history of BSIPS strongly favoring high volume under collateralized borrowers at the expense of holders and traders should serve as a warning to anyone involving themselves in bitEUR.

Why would anyone just throw our money into your next scam?

bitBTC scam
bitUSD scam
bitCNY scam
bitSILVER scam

Just look at the daily charts vs BTS for past 4 months; nothing to do with "1:1 pegged fiat derivative" as the description says.  That is monetary policy under your "Lets play with bitEUR" guidance.



You've created and supported:
BSIPS statutorily pegging them to BTS for months and months by plutocracy under your guidance.
BSIPS requiring "service fees" payed to under collateralized whales to profit that are greater in margin than the MSSR
BSIPS allowing inflation of the blockchain to support endless "market making contests" for under collateralized whales to profit.
BSIPS reducing short squeeze so tight it practically cannot happen so under collateralized whale positions are never liquidated.

Then rumors abound with use of ZB.com exchange cold storage to leverage voting of these points in favor of these corrupt bsips at the expense of every holder and trader. 

If traders and holders want real market pegged fiats and metals... I have recently created HONEST MPA's for all to use.

Code: [Select]
HONEST.BTC
HONEST.USD
HONEST.CNY
HONEST.XAU
HONEST.XAG

Private MPA's with profit incentive to maintain peg through fees are by far better MPA model than corrupt plutocracy changing monetary policy on corrupt whims to favor the biggest holders.

HONEST current market rates are within 0.5% of global institution pricing and updated hourly:



Check the charts... do the cross rate math.   Do you want HONEST true market value MPA's or bitcrab's latest scam so he can flick a BSIP switch and leave you holding a bag?


GTFO w/ your latest bitasset scam.  Your brand of leadership is a shit stain on this community.

杰里(Jerry)拥有悠久的BSIPS历史,他强烈主张以抵押借款人为代价,以牺牲持有人和交易人的利益为代价,向任何参与bitEUR的人发出警告。

为什么有人会把我们的钱投入到您的下一个骗局中?

bitBTC骗局
bitUSD骗局
bitCNY骗局
bitSILVER骗局

只需查看过去4个月的每日图表与BTS对比即可;正如描述所描述的,与“ 1:1固定的法定衍生工具”无关。那是您的“让我们一起玩bitEUR”指导下的货币政策。

您已经创建并支持:
在您的指导下,BSIPS法定将他们与亿万富翁固定在BTS上几个月。
BSIPS要求向抵押鲸支付“服务费”,以赚取利润,其利润要比MSSR大
BSIPS允许区块链的通货膨胀支持无休止的鲸鱼无休止的“做市竞赛”以获利。
BSIPS可以将紧缩现象减少得如此之紧,以至于几乎不可能发生,因此在抵押鲸鱼头寸下绝不清算。

然后,有关使用ZB.com交易所冷库来利用这些观点进行投票以支持这些腐败bsip的谣言比比皆是,而这损害了每个持有者和交易者的利益。

如果贸易商和持有人想要与真实市场挂钩的法定货币和金属...我最近创建了HONEST MPA,供所有人使用。


迄今为止,具有利润激励机制以通过收费保持钉住汇率的私人MPA较腐败的富豪制改变了MPA模式,因为腐败的一时冲动改变了货币政策,以有利于最大的持有者。

诚实的当前市场利率在全球机构定价的0.5%以内,并每小时更新一次:


查看图表...进行交叉汇率数学计算。您是否想要诚实的真实市场价值MPA或bitcrab的最新骗局,以便他可以轻按BSIP开关并让您手拿包?


带上您最新的bitasset骗局。您的领导品牌是这个社区的污点。

52
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: January 29, 2020, 06:50:30 pm »
ANN: HONEST.USD HONEST.BTC HONEST.XAU HONEST.XAG


USD, BTC, XAU, and XAG derivative MPA's are all live on mainnet.   The price feeds and reference rates coming soon.

Dust reference rates have been posted hourly for several days now on HONEST.CNY vs BTS, bitUSD, bitCNY and GDEX.BTC

We now have 4 feed producers live.  3 additional parties have committed to joining.
Code: [Select]
HONEST.CNY
=================================================
 ** ¥ ** CHINESE YUAN
=================================================
PRIVATE MARKET PEGGED ASSET
=================================================
A proprietary derivative tracking the HONEST market value of one Chinese Yuan 1:1.  Backed by BTS collateral held on the blockchain, in a smart contract.  We aim to provide HONEST, accurate, transparent, and timely median price feeds derived from data reported by reputable global institutions.  Short squeeze is minimally restricted to ensure the burden of malinvestment falls on the under collateralized party rather than all market participants.
=================================================
Learn more at: bitsharestalk.org/index.php?topic=32035

HONEST.CNY - CHINESE YUAN MPA

HONEST.USD
=================================================
 ** $ ** US DOLLAR
=================================================
PRIVATE MARKET PEGGED ASSET
=================================================
A proprietary derivative tracking the HONEST market value of one United States Dollar 1:1.  Backed by BTS collateral held on the blockchain, in a smart contract.  We aim to provide HONEST, accurate, transparent, and timely median price feeds derived from data reported by reputable global institutions.  Short squeeze is minimally restricted to ensure the burden of malinvestment falls on the under collateralized party rather than all market participants.
=================================================
Learn more at: bitsharestalk.org/index.php?topic=32035

HONEST.USD - US DOLLAR MPA


HONEST.BTC
=================================================
 ** ₿ ** BITCOIN
=================================================
PRIVATE MARKET PEGGED ASSET
=================================================
A proprietary derivative tracking the HONEST market value of one Bitcoin 1:1.  Backed by BTS collateral held on the blockchain, in a smart contract.  We aim to provide HONEST, accurate, transparent, and timely median price feeds derived from data reported by reputable global institutions.  Short squeeze is minimally restricted to ensure the burden of malinvestment falls on the under collateralized party rather than all market participants.
=================================================
Learn more at: bitsharestalk.org/index.php?topic=32035

HONEST.BTC - BITCOIN MPA

HONEST.XAU
=================================================
1 TROY OUNCE OF GOLD
=================================================
PRIVATE MARKET PEGGED ASSET
=================================================
A proprietary derivative tracking the HONEST market value of one 1 troy ounce of .999 percent fine Gold 1:1.  Backed by BTS collateral held on the blockchain, in a smart contract.  We aim to provide HONEST, accurate, transparent, and timely median price feeds derived from data reported by reputable global institutions.  Short squeeze is minimally restricted to ensure the burden of malinvestment falls on the under collateralized party rather than all market participants.
=================================================
Learn more at: bitsharestalk.org/index.php?topic=32035

HONEST.XAU - GOLD MPA

HONEST.XAG
=================================================
1 TROY OUNCE OF SILVER
=================================================
PRIVATE MARKET PEGGED ASSET
=================================================
A proprietary derivative tracking the HONEST market value of one 1 troy ounce of .999 percent fine Silver 1:1.  Backed by BTS collateral held on the blockchain, in a smart contract.  We aim to provide HONEST, accurate, transparent, and timely median price feeds derived from data reported by reputable global institutions.  Short squeeze is minimally restricted to ensure the burden of malinvestment falls on the under collateralized party rather than all market participants.
=================================================
Learn more at: bitsharestalk.org/index.php?topic=32035

HONEST.XAU - SILVER MPA


53
General Discussion / ANN: HONEST Market Pegged Assets
« on: January 21, 2020, 04:46:28 am »
www.litepresence.com presents:

         


and then DEX MPA's were finally HONEST...

HONEST MARKET PEGGED ASSETS
Code: [Select]
The right of nullification is a natural right,
which all admit to be a remedy against insupportable oppression.

    $$$ James Madison $$$

If it had not been for the justice of our cause,
and the consequent interposition of Providence,
in which we had faith, we must have been ruined.

    $$$ Ben Franklin $$$

Resistance and disobedience in economic activity
is the most moral human action possible.

    $$$ Samuel Edward Konkin III $$$




  1.3.5641 HONEST.CNY CHINESE YUAN FIAT
  1.3.5650 HONEST.BTC CENTRALIZED EXCHANGE BITCOIN
  1.3.5649 HONEST.USD UNITED STATES DOLLAR FIAT
  1.3.5651 HONEST.XAU GOLD TROY OUNCE 
  1.3.5652 HONEST.XAG SILVER TROY OUNCE 


UNDERLYING MARKET PEGGED ASSET TECHNOLOGY:
https://bitshares.org/technology/price-stable-cryptocurrencies/

OPEN SOURCE PRICE FEED SCRIPTS:
https://github.com/litepresence/Honest-MPA-Price-Feeds/tree/master/honest

PRICE FEED WHITEPAPER:
https://github.com/litepresence/Honest-MPA-Price-Feeds/blob/master/docs/whitepaper.md

CALL TO ARMS:
https://github.com/litepresence/Honest-MPA-Price-Feeds/blob/master/docs/call_to_arms.md

ASSUMPTIONS
An MPA is a derivative smart contract with the sole purpose of tracking the value of its underlying asset 1:1.
MPA pricefeeds should be timely, accurate, and honest; always always representing the global median price, with truth and precision.
Long term borrowers of an MPA will be required to adjust their collateral over time to prevent margin call.
The purses and interests of the owners of an MPA are more important than the purses of the borrowers of that MPA.
Borrowers have a duty and personal responsibility to maintain the collateral of MPA's, which they have speculated into existance.
Holders are lay users who expect and deserve peg and continuity of MPA's, which they own. 
MPA holders expect their owned assets will remain true to their purpose by definition.
We seek to maintain MPA's near their respective price peg most of the time.
We can accept extreme short term deviation from peg to achieve liquidation of under collateralized positions.
Deviation from peg cannot be so extreme as to result in a market wide default via core blockchain mechanisms.
The mean peg of an MPA over time is far more important than immediate peg of the MPA in any momentary instance.
We are willing to allow considerable deviation from the peg in the instant, in order to minimize the time spent off peg.
It is acceptable and expected for an MPA to be slightly overvalued or undervalued relative to the 1:1 peg, in bull or bear markets respectively. 
Monetary policy should NOT be implemented for marketing purposes or to induce borrowing with the aim of inflating the monetary supply.
Monetary policy should NOT be implemented to adjust for deviation from peg during bullish or bearish market trends.
Monetary policy should allow market participants the greatest freedom possible to make their own decisions and be repsonsible for the outcome.
Monetary policy should not waver over time as to benefit some market participants at the expense of others; whenever possible policy should be set in stone.
Monetary policy  should place the burden of default on the individual borrower, rather than the collective holders.
Monetary policy restrictions should only be implemented to prevent edge case scenarios which result in prolonged loss of peg or freezing of holder assets.
Under no circumstance should monetary policy induce an MPA to become pegged to the backing asset (typically BTS).
Under no circumstance should monetary policy induce an MPA to become frozen by the chain - "supergao".


SCELETUS
Sceletus is a neologism; latin for skeleton.   We are calculating the minimum necessary to enact a dust transaction hourly, such that there is 0.3% price precision drawn on the charts.   Whereas publishing price feed allows for borrowing; it does not draw an actual historic chart that people can see.   Sceletus is filling in that functionality.    We have managed to do a full matrix of markets across bitassets to honest pairs, plus GDEX.btc to honest pairs.  30 total pairs.   So once hourly, sceletus buys whatever quantifies as minimum dust; in graphene sense, this means that
Code: [Select]
min(base_amount, quote_amount) > 300   In USD terms this amounts to about 5 US cents transacted.  Most simply put, it is wash trading for the sake of a "reference rate" in a nascent market as opposed to wash trading for the sake of "volume".  This service of "reference rate" historic charts is provided by our feed producers.  HONEST.CNY to BTS, GDEX.BTC, bitUSD, bitCNY markets have been sceletus'd since January 25th 2020.  The remaining HONEST markets below have been sceletus'd since Feb 1st. 


HONEST to BTS markets:
https://wallet.bitshares.org/#/market/HONEST.CNY_BTS
https://wallet.bitshares.org/#/market/HONEST.USD_BTS
https://wallet.bitshares.org/#/market/HONEST.XAG_BTS
https://wallet.bitshares.org/#/market/HONEST.XAU_BTS
https://wallet.bitshares.org/#/market/HONEST.BTC_BTS

Use these links to exit from fraudulent bitCNY and bitUSD to HONEST MPA's
https://wallet.bitshares.org/#/market/HONEST.CNY_CNY
https://wallet.bitshares.org/#/market/HONEST.USD_CNY
https://wallet.bitshares.org/#/market/HONEST.XAG_CNY
https://wallet.bitshares.org/#/market/HONEST.XAU_CNY
https://wallet.bitshares.org/#/market/HONEST.BTC_CNY
https://wallet.bitshares.org/#/market/HONEST.CNY_USD
https://wallet.bitshares.org/#/market/HONEST.USD_USD
https://wallet.bitshares.org/#/market/HONEST.XAG_USD
https://wallet.bitshares.org/#/market/HONEST.XAU_USD
https://wallet.bitshares.org/#/market/HONEST.BTC_USD

Intra HONEST Markets with legit exchange rates as found in global markets:
https://wallet.bitshares.org/#/market/HONEST.CNY_HONEST.BTC
https://wallet.bitshares.org/#/market/HONEST.USD_HONEST.BTC
https://wallet.bitshares.org/#/market/HONEST.XAG_HONEST.BTC
https://wallet.bitshares.org/#/market/HONEST.XAU_HONEST.BTC
https://wallet.bitshares.org/#/market/HONEST.CNY_HONEST.XAU
https://wallet.bitshares.org/#/market/HONEST.USD_HONEST.XAU
https://wallet.bitshares.org/#/market/HONEST.XAG_HONEST.XAU
https://wallet.bitshares.org/#/market/HONEST.BTC_HONEST.XAU
https://wallet.bitshares.org/#/market/HONEST.CNY_HONEST.XAG
https://wallet.bitshares.org/#/market/HONEST.USD_HONEST.XAG
https://wallet.bitshares.org/#/market/HONEST.BTC_HONEST.XAG
https://wallet.bitshares.org/#/market/HONEST.XAU_HONEST.XAG
https://wallet.bitshares.org/#/market/HONEST.CNY_HONEST.USD
https://wallet.bitshares.org/#/market/HONEST.XAG_HONEST.USD
https://wallet.bitshares.org/#/market/HONEST.XAU_HONEST.USD
https://wallet.bitshares.org/#/market/HONEST.BTC_HONEST.USD
https://wallet.bitshares.org/#/market/HONEST.USD_HONEST.CNY
https://wallet.bitshares.org/#/market/HONEST.XAG_HONEST.CNY
https://wallet.bitshares.org/#/market/HONEST.XAU_HONEST.CNY
https://wallet.bitshares.org/#/market/HONEST.BTC_HONEST.CNY

HONEST to GDEX.BTC markets:
https://wallet.bitshares.org/#/market/HONEST.CNY_GDEX.BTC
https://wallet.bitshares.org/#/market/HONEST.USD_GDEX.BTC
https://wallet.bitshares.org/#/market/HONEST.XAG_GDEX.BTC
https://wallet.bitshares.org/#/market/HONEST.XAU_GDEX.BTC
https://wallet.bitshares.org/#/market/HONEST.BTC_GDEX.BTC


FEED PRODUCERS AND MPA SPECIFICATIONS
http://cryptofresh.com/a/HONEST.CNY
http://cryptofresh.com/a/HONEST.USD
http://cryptofresh.com/a/HONEST.BTC
http://cryptofresh.com/a/HONEST.XAU
http://cryptofresh.com/a/HONEST.XAG

TOP HOLDERS
https://bts.ai/asset/HONEST.CNY
https://bts.ai/asset/HONEST.USD
https://bts.ai/asset/HONEST.BTC
https://bts.ai/asset/HONEST.XAU
https://bts.ai/asset/HONEST.XAG


Be warned this project is very nascent; there are currently ONLY 4 feed producers and 2 more actively deploying their setup

An additional 12 candidates have been selected as potential feed producers and/or HONEST asset advisors due to their Bitshares community merit, technical expertise, and free market aligned philosophy.

We aim to provide 24/7 hourly updates of legitimate price feeds HONEST: CNY, USD, SILVER, GOLD and BTC to the Bitshares DEX.

NOTE: There will be KEY differences in implementation vs. the traditional "Bitassets" with the aim to provide:

LIQUID, FREE MARKETS, with IMMEDIATE PRICE DISCOVERY

1) we WILL NOT seek nor be held ransom by worker funding

2) tx fees will be distributed among feed producers as an incentive to provide HONEST price feeds
3) witnesses and committee members will NOT, by default, be feed producers
4) our price feed scripts will be open source
5) our price feed calculation data matrix will be published live at www.jsonbin.io for each feed producer
6) MSSR will be set to 125 instead of 101, this means YOU WILL get margin called up to 20% below market value default
7) There will be NO "flat max" market fee to benefit large transactions
8) The only retained permission/flag is to adjust market fees, all others have been permanently abandoned:

NO OWNER PERMISSIONS EXCEPT "MARKET FEE"

    YES Enable market fee:
    NO Require holders to be white-listed:   
    NO Asset owner may transfer asset back to himself:   
    NO Asset owner must approve all transfers:   
    NO Disable force settling:   
    NO Allow asset owner to force a global settling:   
    NO Disable confidential transactions:   
    NO Allow witnesses to provide feeds:   
    NO Allow committee members to provide feeds:

9) Force Settlement Delay is 60 minutes
10) Feed lifetime is 4h
11) 2% Force Settlement Offset
12) Max Settlement volume is 100%
14) Price Feed producers will be required to run the price feed scripts provided as described in the whitepaper.


We are striving to make it highly unlikely that these MPA will ever globally settle through our asset settings.


These features currently match traditional Bitassets:

MCR = 160
Total supply = 100,000,000,000 HONEST.CNY
Precision = 4 (0.0001) HONEST.CNY

Further:

We will NOT engange in "open market" corrective operations or tweaks to MCR, MSSR, etc. with an aim to achieve price parity. 
We reserve the right to move MSSR up or down at any time, but it will never approach "Bitasset 101"; as to make liquidation infeasible.
We reserve the right to move MCR up or down at any time, but our producers are obligated to never increase more than +5 daily (ie 160 + 5 = 165 MCR)
We strongly recommend YOU RESPONSIBLY CHOOSE an ICR of 200+ given the volatile nature of crypto markets and the zero restrictions we've placed on liquidation of mal investement.
We also strongly recommend that YOU follow the market prices of your collateralized investments, maintain your collateral position, and invest wisely to make PROFIT while you hold our MPAs.
We intend to act as a traditional margin market with a TREND towards price parity with the pegged asset, but with an underlying expectation of volatility.
We intend to discourage TRENDS away from price parity through IMMEDIATE liquidation of mal investment coupled with HONEST price feeds.
It is our goal to keep the HONEST markets as free and unregulated as possible within the constraints of the blockchain environment.

NOTE: I am currently the "asset owner" but my intention is to form a multisig governance around them as soon as this project gets off the ground.

It is our hope that these markets catch on like wildfire and we can soon faithfully offer additional HONEST MPA fiats, cryptos, and precious metals.

ALSO: (coming soon) I have created "HONEST" as the base UIA, there are 100,000 non divisible tokens which I will be self issuing.  This project was built entirely pro bono; I intend to offer them on the books for 100 BTS each as a tip cup.  Much love.

For more on MCR, MSSR, and ICR please visit.
https://www.investopedia.com/terms/m/margin.asp
https://en.wikipedia.org/wiki/Margin_(finance)

You can find the first feed producer price calculation data matrixes here:

https://api.jsonbin.io/b/5e221d218d761771cc92b200/latest
https://api.jsonbin.io/b/5e3622e23d75894195e3226d/latest
https://api.jsonbin.io/b/5e25c8055df640720838d768/latest
https://api.jsonbin.io/b/5e361c8850a7fe418c57ff17/latest
(additional feed producer jsonbins coming soon)

Please visit litepresence.com and check out some of my other work:

BitsharesQuant; an open source algo trading platform for the DEX,

CypherVault; an open source CLI password manager, and

NordVPN switcher; which maintains a high speed VPN connection through adversity for high bot trading up time

A final note...  Yes! This is a response:  There cannot be a need for nullification and interposition, unless there is an underlying injustice and oppression being overcome.    These MPA's are not just a new novel asset class put forth for fun; or as some idle experiment or alternative.  HONEST price feeds are in fact a remedy, for an inherent dysfunction, in the previous political order, which has led to the destruction of Bitassets, as a viable market pegged instrument.  Beyond Bitshares, HONEST MPA's are also a reaction to the events which have led to a dearth of CNY:BTC markets globally.

Long Live Bitshares!

Long Live FREE Markets!



for individual liberty,

litepresence2020


ps... if you have some time and you care to learn more about free market theory, please read this paper I type scripted a few years back by Kyle O’Donnell:

Planning the End of Planning:
Disintervention and the Knowledge Problem


http://www.ronpaulforums.com/showthread.php?492708-Planning-the-End-of-Planning-Disintervention-and-the-Knowledge-Problem

Quote
"Interventionism is distortive, disruptive, and potentially socially destructive because it attempts to defy the criticisms and possibilities of centralized planning according to the market process view of the dynamic market. Yet disintervention faces the same problems. When disintervening, political actors with necessarily limited information and knowledge must somehow decide, not only what to liberalize, but how and when. [] there is no tendency in piecemeal disintervention to successfully liberalize via correctly discovering the proper order, rate, or even what and where to disintervene."  This raises the distinct possibility that nothing short of radical movement towards anarcho-capitalism might ever achieve an outcome close to its original goals.


55
General Discussion / Re: Shorting Attack Protection?
« on: January 12, 2020, 08:19:08 pm »
Maybe you can show us a working austrian econonomic principle in the real world ?



56
General Discussion / Re: Shorting Attack Protection?
« on: January 12, 2020, 07:20:39 pm »
I read BSIP76 and this thread for the first time today; as a free market advocate, I generally try not to get too involved in political matters.

Today, as I get caught up on these discussions... I must say, aside from Jerome Powell justifying yet another fedgov bank bailout, I cannot remember having ever read such a self serving and corrupt crock of shit.

You should all be ashamed of yourselves.   

The nature of this discussion is anathema to the Austrian economic principles this chain is supposed to herald.

Murray Rothbard is rolling in his grave.

There is no shorting attack.   The price is the price.   

You want it higher?  BUY. 

Else GTFO with your, "pity me because I'm an under collateralized gambling addict."

Flatly Disgusted



57
General Discussion / Re: Cleaned out!
« on: January 03, 2020, 07:34:34 pm »
bitshares.org still links to an insecure client version

I spoke w/ DL, he thanked for reminder... it is bumped on his todo list.

58
I really like the general model prescribed here.

It might be that workers in general could be better received by the voting community if they were not put out there like trillion dollar US government "defense authorization acts" where voting is all or nothing.   

The way thing have seemed up until now... its either you want to vote for "core team budget" yea/nay or "dexbot budget" yea/nay... and perhaps you want some of the things core is doing to be funded or some of the things dexbot is doing to be funded.... but you don't agree with the whole package.  Not to single out any line item, but maybe you don't want to support dev travel to blockchain events for example.  The all or nothing packaging of the workers tends to turn ala carte items into what is perceived as dependent political pork riders.    Perhaps, a better model would be employment of individuals for 6 month contracts instead of teams.   Or funding of distinct projects or subcategories of dev - instead of all or none dev offerings.   I think voters prefer this level of control which avoids a sense of perceived "pork" which ultimately ends chaotically as a "poison pill" amendment wrecks an ongoing otherwise helpful worker offering.


Quote
Rider (legislation)

In legislative procedure, a rider is an additional provision added to a bill or other measure under the consideration by a legislature, having little connection with the subject matter of the bill.[1] Riders are usually created as a tactic to pass a controversial provision that would not pass as its own bill. Occasionally, a controversial provision is attached to a bill not to be passed itself but to prevent the bill from being passed (in which case it is called a wrecking amendment or poison pill).
https://en.wikipedia.org/wiki/Rider_%28legislation%29

59
Stakeholder Proposals / Re: BSIP86: 1000:1 Core BTS Token Reverse Split
« on: December 31, 2019, 03:03:17 pm »
Reverse stock split will not solve BTS problem, it might create more
In traditional rhetoric this is called a Proof Surrogate. Please expand on your thoughts, else this is just a logical fallacy.

60
Stakeholder Proposals / BSIP86: 1000:1 Core BTS Token Reverse Split
« on: December 30, 2019, 08:27:22 pm »
https://github.com/litepresence/bsips/blob/patch-1/bsip-0086.md

Code: [Select]
    BSIP: BSIP 86
    Title: 1000:1 Reverse Split of Core BTS Token
    Authors: litepresence [email protected]
    Status: Draft
    Type: Protocol
    Created: 2019-12-30
    Discussion: https://bitsharestalk.org/index.php?topic=31970.0


# Abstract

As we approach Jan 1, 2020, the current trading price for BTS core token vs. BTC has fallen below 200 satoshi.  It also fell below 200 satoshi in February 2018.  Since inception, the price of the core BTS token has spent about 50% of its time below 1000 satoshi vs. BTC.  Beneath 1000 satoshi, BTS has only had 3 significant figures to trade at centralized exchanges.  Significant figures of a number are the non-leading-zero digits, which carry meaning - contributing to its measurement resolution.

In stock markets, stock splits and reverse stock splits are routine actions performed by corporations, upon consent of shareholders.  We find in traditional stock markets, prices are maintained such that there are always between 4 and 5 significant figures vs. the national currency.   That is, most stock prices, in high volume markets, typically range from 10.00 to 999.99.   When they get outside of that range, a stock split; or reverse stock split is a routine consideration taken up among shareholders and initiated by corporate management.   

Exchanges do not tend to change their user interface or back-end to accommodate assets, which do not fit within their existing framework.  In Bitcoin markets, that framework allows for precision up to 8 digits; 0.00000000.  Likewise in USD and CNY markets, the precision offered is typically 0.00.   


# Motivation

The motivation of this split is to increase share price immediately; to prevent delisting risk, encourage listing acceptance at new exchanges, and more generally encourage higher trade volume at centralized exchanges, by removing the delisting threat.   


# Rational

Exchanges generally specify a minimum bid price for an asset to be listed.  If the asset falls below this bid price and remains lower than that threshold level over a certain period, it risks being delisted from the exchange.  In the cryptocurrency space this price threshold is often proprietary, though experience shows it is typically set between 200 and 500 satoshi.  Secondly, in fear of being stuck with a delisted asset, traders are hesitant to purchase a currency who's exchange price is approaching the delisting threshold.   Over time, this rational fear decreases trading volume, which has a cascading effect on the price of an already weakened asset.  Further, when a coin is delisted from exchange there is a typically a sharp, immediately negative effect on market price.   

Additionally, when an asset price is at the bottom end of 3 significant figures, such as is the current case of Bitshares at 200 satoshi; there is now 0.5% change in value for every up or down tick in price.  At 100 satoshi, that becomes one full percent change in value for every tick in tradable asset price vs BTC (the core currency BTS is traded against at most centralized exchanges).  The core properties of money are Durability, Portability, Divisibility and Intrinsic value.   When price is moving in ticks of half-a-percent measurment resolution at every trade, the properties of Divisibility and Intrinsic Value come into question. 

In traditional stock markets, upon a reverse stock split, there is an immediate and proportional change in market price to the split ratio.   Instead of trading at 0.00000200 in CEX markets, Bitshares would immediately trade at 0.00200000.   Markets are very reliable and resilient in this regard.   There would be no immediate effect on market cap or the vaule of individual holdings vs. USD, CNY, or BTC.  However, the delisting risk profile would immediately and permanently change. 

The BTS:USD price, likewise would move from $0.0149 (current) to $14.90 on markets.  This would open doors for the BTS:USD pairing, where exchanges specify price in cents, to be a rational consideration.


# Specifications

The specification for this change is simple:

- 1000:1 reverse split
- Core token asset precision changed from 5 to 8
- All open orders on DEX vs the core BTS token would be scaled accordingly
- All loans used to issue bitASSETs would also be scaled

Currently the chain supports 15 digits in format:

Code: [Select]
    X,XXX,XXX,XXX.XXXXX
   
After the split it still supports 15 digits in the new format:

Code: [Select]
    X,XXX,XXX.XXXXXXXX
Current maximum supply is:

Code: [Select]
    3,600,570,502.00000
   
After the split maximum supply is:

Code: [Select]
    3,600,570.00000000 (or if possible 3,600,570.50200000)
Put simply:

However many BTS are in existence is divided by 1000.  However many you have personally is divided by 1000. 

If there is rounding to be done, round down.

If it is technically less challenging to "air drop" a new token at 1000:1 ratio and rename it:

Code: [Select]
    newBTS, BTS3, bitBTS, coreBTS, BTS2020, etc.
Then lock trading / transfer of the original BTS core token, to initiate the reverse split; this would be acceptable as well, so long as all major exchanges are put on notice of the upcoming change and agree to distribute the air drop after the protocol upgrade.


# Discussion

https://bitsharestalk.org/index.php?topic=31970.0


# Summary for Shareholders


Significant figures in financial markets send key signals to both traders and exchange operators.   BTS has consistently traded at 3 significant figures vs BTC in satoshis; and less than 1 US Dollar (currently 1.5 cents).   Making this change to the core protocol, will eliminate delisting risk at centralized exchanges due to the very concrete issue of divisibility vs. the value of Bitcoin; while opening doors to USD markets which trade with 2 decimal precision.


# Copyright:

WTFPL - wtfpl.net


# See Also

Quote
The number one reason for a reverse stock split is because the stock exchanges—like the NYSE or Nasdaq—set minimum price requirements for shares that trade on their exchanges. And when a company’s shares decline to near - or below - that level, the easiest way to stay in compliance with the exchange is to reduce the number of outstanding shares so that the price of the individual shares - like magic - automatically rises. And when that happens, the company’s shares can remain trading on the exchange.

- https://cabotwealth.com/daily/how-to-invest/reverse-stock-splits-shareholders/

# Additional Resources

- https://www.investopedia.com/terms/r/reversesplit.asp
- https://www.investopedia.com/ask/answers/06/reversestocksplit.asp
- https://www.fool.com/knowledge-center/whats-a-reverse-stock-split-and-can-it-really-help.aspx
- https://www.wallstreetmojo.com/reverse-stock-split
- https://en.wikipedia.org/wiki/Reverse_stock_split
- https://www.upcounsel.com/reverse-stock-split
- https://www.stocksplithistory.com/reverse-stock-splits
- https://finance.zacks.com/reverse-stock-split-good-bad-2298.html

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