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Messages - armin

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16
General Discussion / Re: Why Need BSIP For Everything?
« on: December 30, 2018, 05:16:44 pm »
Quote from: pc on December 30, 2018, 09:52:00 am
IMO all witnesses should provide feeds that are based on the same underlying principles. It is a good thing to define these principles in the form of BSIPs, and let the witnesses handle the details themselves.

For example, if some witnesses follow BSIP-42 and some don't, there is the danger that the median feed jumps back and forth between two values that are relatively far apart. This would probably disrupt the markets and would also increase the danger of a global settlement.

True, this happened earlier when some witnesses were providing crazy high feeds and some were providing normal feeds. There should be some clear consensus on what the terms "feed" and "mssr" mean. I think mssr is quite obvious, but feed had recently been redefined to something else, which is dangerous to the system 

EDIT: Actually, if some witnesses disagreed with BSIP42, they could feed much lower than the "normal" price to offset the high feeds. This is the meaning of decentralization. You are still correct that the feed would jump, but this problem is solved by having more delegates

17
General Discussion / Re: Did somebody notice the margin call wall had 15M BTS Eaten yesterday?
« on: December 30, 2018, 05:14:09 pm »
Quote from: startail on December 30, 2018, 03:23:16 pm
I'm keen on understanding if this is displayed wrong in the GUI.
How did you get to these numbers and did you account for the "Target collateral ratio"?

Armin, you missed one possible scenario I think.

4) A position updated their target collateral ratio, removing some of the required sell to reach collateral ratio.

Say that one position doesn't have a target at all, then the whole position will be put to market (as long as they are under MCR I believe). If a position has a target on the other hand, it will only put so much on the market that is required to reach MCR ratio.

Please tell me if I'm wrong, but that's how I understood it to work.

Yes you are correct, I did not account this into my calculation, I will try to see if I can calculate it with the target CR as well.

Quote from: alt on December 29, 2018, 12:28:22 am
Quote from: armin on December 29, 2018, 12:10:09 am
yes I see the GUI keep changing margin call from 50m BTS to 30m BTS, looks like a bug. You calculate the correct amount using api call?
yes, there are about 20M bitCNY debt in the state "margin call" right now. for the feed price 0.2733

@alt, did you count target CR as well?

18
General Discussion / Re: Proxies, Please Explain To Shareholders Your Plans For Recollateralization
« on: December 30, 2018, 06:54:57 am »
Increase MSSR to 110% (slow debt eating) or 115% (aggressive eating), will cause margin call to be eaten

BTS holders should be prepared to be hurt in the short term though, but it will be better for the price in the end

Not saying it should be done, that's why I'm asking for Proxies consensus

19
General Discussion / Re: Why Need BSIP For Everything?
« on: December 30, 2018, 05:22:34 am »
Maybe there's a reason it was originally like that, maybe not. We need the true vision.

Good conversation, other community members please give your opinions

20
General Discussion / Re: Why Need BSIP For Everything?
« on: December 30, 2018, 05:09:34 am »
They have the ability to change feed/mssr however they like, if you want to use BSIP for everything, feed/mssr should be set by proxies instead. What's the point in witnesses just copying the proxies decision? May as well just set the numbers themselves

21
General Discussion / Why Need BSIP For Everything?
« on: December 30, 2018, 04:54:23 am »
It seems like every time the proxies want witnesses to make a change, they write a BSIP for the witnesses to make the change.

The witnesses are already voted in and have the ability to change the feed/mssr however they like, if proxies do not like what a witness is doing, they can just vote him out.

BSIP stands for BitShares Improvement Proposal and changing parameters is not an improvement/feature, it is simply a tuning of numbers.

In fact, it is much better if witnesses decide parameters on their own (AND on their own opinion), this way we are more robust to decisions that could be destructive to Bitshares because some witnesses will disagree and tune their parameters accordingly


Please share your thoughts.

22
General Discussion / Re: Proxies, Please Explain To Shareholders Your Plans For Recollateralization
« on: December 30, 2018, 04:37:08 am »
Quote from: bitcrab on December 30, 2018, 04:34:08 am

I don't think "whether you want margin call orders be eaten" is a senseful question.


If you allow margin call to be eaten, it won't go to black swan in the first place because it will recollateralize. This is why I'm asking this question

Quote from: bitcrab on December 30, 2018, 04:34:08 am

I am considering to draft a BSIP to request witnesses to ensure the feed price be higher than the global settlement price, to avoid the global settlement to happen.


If global market cap drops further, it will black swan before you can change anything. If global market cap increases, it will recollateralize by itself.


You can prevent global settlement in 2 ways: Either put a higher feed than the actual market price, or force the margin call to be eaten and debt positions increase their MCR My question is, which one will you take?


23
General Discussion / Proxies, Please Explain To Shareholders Your Plans For Recollateralization
« on: December 30, 2018, 04:18:42 am »
Your current policy makes it look like you don't want margin call to be eaten (since you decreased MSSR to 105%), instead you want to prevent a black swan on bitCNY, correct?

Do any of the Proxies have plans to make the margin call eaten?

Please give your honest opinions on which is your desired outcome

24
General Discussion / Re: Did somebody notice the margin call wall had 15M BTS Eaten yesterday?
« on: December 29, 2018, 03:04:34 pm »
I just calculated it and it comes down to 12.2m CNY/47M BTS, how did you get the 20M CNY number?

Actually I have an old wallet from before that also says 12.2m (seems like the calculation broke in recent releases?)

But u are right, web wallet is wrong still

25
General Discussion / Re: Did somebody notice the margin call wall had 15M BTS Eaten yesterday?
« on: December 29, 2018, 12:10:09 am »
yes I see the GUI keep changing margin call from 50m BTS to 30m BTS, looks like a bug. You calculate the correct amount using api call?

26
General Discussion / Re: Question To All Active Witnesses #2
« on: December 28, 2018, 11:25:19 pm »
If all witnesses feed 0.1 right now, the wall will be eaten

27
General Discussion / Re: Question To All Active Witnesses #2
« on: December 28, 2018, 10:57:35 pm »
Chill Alex, I just need to know the witness consensus. Thanks for your input, other witnesses please reply too

28
General Discussion / Re: Question To All Active Witnesses #2
« on: December 28, 2018, 10:36:17 pm »
No, witnesses' opinions are important. Take crazybit for example, he feeded ridiculous prices for a while, witnesses do have some level of control and influence over the market. If traders do not know individual witnesses' consensus regardless of proxies, we are in the dark when making decisions

29
General Discussion / Re: Question To All Active Witnesses #2
« on: December 28, 2018, 09:32:23 pm »
decreasing mssr will increase margin call price, which means wall is harder to eat, which means less cny will be removed from the system. This sounds very similar to BSIP42, can you clarify the difference?

30
General Discussion / Re: Question To All Active Witnesses #2
« on: December 28, 2018, 09:20:37 pm »
Quote from: clockwork on December 28, 2018, 09:18:45 pm
I want the wall to be eaten when it should be eaten and not eaten when it shouldn't be  (i.e. I want dynamic MCR/MSSR)

Thanks for replying. Please clarify when it shouldnt be eaten/should be eaten?

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