Quote from: gghi on August 18, 2018, 08:13:21 am

    Recently, I have been studying the BTS problem, constantly looking through the forum posts, constantly thinking, thinking more and more clearly, gradually found that the BTS problem is not very big, in fact, it is very simple, but we lost ourselves.

Feeding price should answer how much BTS price is more reasonable, feeding price should actually be determined according to the demand of bitcny. The demand of bitcny determines the price of BTS, not the price of BTS determines the demand of BITCNY. If this relationship is straightened out, then the problem can be solved simply by determining the feeding price according to the market demand for bitcny.


In fact, the future market for bitcny is very big demand, so we just need to constantly adjust the BTS feeding according to demand. How to judge the demand for bitcny, the market will give us the answer, the drum charge rate, the exchange of bitcny trading prices can be referred to.

The problem is that the demand for bitcny is not effectively transmitted to the feed price. Our feed price only collects the price of the exchange. It is not that the exchange controls the feed price, but that we do not determine the reasonable feed price according to the demand of bitcny in time.



We just have to hold on to the market demand for smart money and let the market decide the price of BTS. Using the invisible hand, the charge rate, to dynamically adjust the feeding to improve anchoring accuracy, let 1 bitcny = 1 cny, and BTS succeeds.

最近一直在研究BTS的问题，不断翻看论坛的帖子，不断思考，思路越来越清晰，渐渐的发现BTS的问题不是很大，其实也很简单，只是我们迷失了自己。

      喂价应该回答BTS的价格是多少比较合理，喂价的高低实际上应该根据bitcny的需求确定。bitcny的需求决定了BTS的价格，而不是BTS 的价格决定BITCNY的需求。理顺了这个关系，那么问题就好办了，只要根据市场上bitcny的需求来确定喂价就行了。


       事实上，未来的市场对bitcny的需求很很大的，因此我们只要根据需求不断的调整BTS的喂价就行了。怎么判断bitcny的需求呢，市场会给我们答案，鼓鼓的充值费率，交易所里bitcny的交易价格都可以参考。
 
       目前的问题就是bitcny的需求没有有效的传递到喂价，我们的喂价仅仅采集了交易所的价格而已，不是交易所控制了喂价，而是我们没有根据bitcny的需求及时确定合理的喂价。
       


         我们只要紧紧抓住市场对智能货币的需求就可以了，做到让市场来决定BTS的价格。用充值费率这只无形的手来动态调整喂价促进锚定精度更加准确，让1bitcny=1cny，那么BTS就成功了。
 

Good thoughts here!

How do we derive a metric for 'demand' and how would that influence the price feed? You have a formula in mind?

I am few billion votes away from beating the inits, can you please throw some votes my way? We have only 3 testers atm and dev4btc is voted in but not producing.

Quote from: gghi on August 27, 2018, 10:51:20 pm

        The goal is to kill this premium.   When there is no premium, I think settlement offset can be set to zero.

no, you haven't considered the scenario that smartcoin has discount.

example: when BTS's price is 5bitCNY in DEX, however, bitCNY has 2% discount and because of the negative feedback, the feed price is 4.8.   what will happen if you set settlement offset to 0?

Quote from: gghi on August 27, 2018, 02:20:54 am

   当充值费一直5%，说明内盘bts/bitcny和外盘bts/qc的价差约5%，这样的调整不会资不抵债。

我们的MCR现在1.75，不会因为放水了5%就资不抵债。因为1.75-0.05=1.7，也就是说喂价上调5%，那么我们的背书还有1.7倍的BTS资产的保证。仔细分析。
理论上喂价最大上调可以是75%，也就是说这是个临界点。但是如果我们上调80%，难道就会崩盘么，我认为也不一定。

我没有说因为放水5%而资不抵债，你说如果手续费一直5%就会一直上调喂价，我说这样会造成资不抵债。那样的话，怕是喂价上调了75%以上了，手续费还是5%。
我想abit和巨蟹不会是这么想的，我希望两位大神出来说一下子这个问题，到底是会一直提升喂价呢？还是到了上限就停止。