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Messages - pc

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121
General Discussion / Re: would you support a cheater as the wintess?
« on: January 02, 2019, 10:17:46 am »
the finally median price y is about random in a range of x*0.99 ~ x*1.01, or more.
suppose you are a honest witness, which give your feed price z in reasoanble, without any information about other's feed price and median price,
the posibility of z close to  y less than 0.01% is about 0.01%/0.02, which is far more less than 1%

This assumption is wrong. The median corresponds exactly to at least one witness-provided feed value. So for 25 witnesses the raw probability that the median is yours is 4%.

This raw probability is in reality increased significantly by at least two more aspects:
* When a witness publishes a new feed value, his feed is the most recent and therefore more likely to be close to x than anyone else's.
* Some witnesses publish a new feed only if that would change the median. (This is a simple optimization which is perfectly valid and acceptable if the feed is checked often.)

IMO if you publish a price only if it changes the median, and your price is likely to be close to the median, the conclusion is that your feed value will be chosen as the median quite often.

Please provide proof if you accuse someone of cheating. The mere fact that someone provides an accurate feed can hardly be taken as such.

122
Thanks!

Please clarify what is covered by the funding. The examples you list typically have their own worker proposals, and I'd expect these to cover any required BBF work as well. Or to put it differently - what if the mandate is granted but not funded?

That said, I'm of course aware that this is an important proposal and that a representative needs to be paid. I support this worker.

Edit: after re-reading I think the explanations provided are sufficient.

123
General Discussion / Re: suggestion on bitCNY rules update after BSIP42
« on: December 30, 2018, 09:52:50 am »
the committee has changed the force settlement offset of bitCNY from 5% to 2%, this will ensure that the possible discount of bitCNY will be less than 2%.

BSIP41 has been implemented, MSSR of bitCNY has been changed from 1.1 to 1.05.

Excellent, thanks!

124
General Discussion / Re: Why Need BSIP For Everything?
« 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.

125

Over 60% of Participants Showed Strong Demand for Data Visualization


This is hardly representative. For example, I didn't participate because I'm not interested. :-)

126
Stakeholder Proposals / Re: [Fee Schedule Proposal] - New fee schedule
« on: December 17, 2018, 01:05:46 pm »
IMO transfer and asset_issue are much too expensive, especially in relation to the market operations. The former are extremely cheap on the network, the latter extremely heavy.

127
General Discussion / Re: When to expect the bitUSD revival?
« on: December 06, 2018, 03:02:03 pm »
-How/when will bitUSD be revived? What does it take? Just the trust of people who lost a lot because of the GS?

It will be revived if either of these happen:

* supply drops to 0 (very unlikely)
* BTS/USD price rises higher than settlement fund/supply * MCR
* a number of people offer to put additional collateral into the pool, in exchange for a share of both debt and settlement fund, together they cover the full debt, and each resulting margin position has a collateral ratio higher than MCR

-If we are below the GS price, will it be revived only when the price goes back u above that same GS price or can the new GS price be lowered?

Technically, the BTS/USD price has to rise high enough. If witnesses choose to provide a fake feed price (see BSIP-42) this can happen before the real price goes up.

-Will it be revived only when the margin trading opens up again? What are the conditions for that?

Margin trading will open up when bitUSD is revived.

-Will I get back my worth of bitUSD only when the price will go back above GS price? Am I understanding this right? Because if so and the price keeps falling, bitUSD holders are screwed, no?

Yes.

-Also, what does it mean when a bitasset stops being pegged?

1 bitUSD is no longer worth 1 USD. Instead it is worth 19.55 BTS. If you're lucky you can sell it for more on the market. If you're lucky you can buy it for less from the market and settle for a profit.

128
Good job guys!

129
General Discussion / Re: New Emergency Fix for All Nodes
« on: November 27, 2018, 01:12:34 pm »
There's a forum thread about the stuck chain, and a post pointing to the release. Where did you look?
https://bitsharestalk.org/index.php?topic=27465.msg325228#msg325228

130
New release was tagged: https://github.com/bitshares/bitshares-core/releases/tag/2.0.181127

All nodes must upgrade.

Majority of witnesses are producing again.

131
General Discussion / Re: Global Settlement for BitUSD
« on: November 26, 2018, 01:28:09 pm »
If he had left BitUSD with no BSIP42, there will be no BlackSwan on BitUSD

To be fair, I think that with such a big downtrend a black swan on bitUSD might have happened even without BSIP-42.

Still, I think it is now proven that BSIP-42 increases the likelyhood of a black swan, due to margin calls not being eaten.

(I'm well aware that BSIP-42 can completely prevent a black swan if the witnesses keep the feed price "fake enough". This is cheating though, because it only hides the undercollaterlization from the blockchain. It will break the peg, and thus defeat the purpose of BSIP-42.)

132
General Discussion / Re: Another suggestion to improve bitAsset performance
« on: November 26, 2018, 01:20:10 pm »
As discussed on telegram - the same can be achieved by a trader going short and selling into a margin call.

Or at least that *would* be possible if the feed price wasn't manipulated in such a way that margin calls don't happen.

133
In order to achieve the above objectives, our plan is:
    1. Investigate visualization requirements.
    Questionnaires will be launched on multiple sources such as WeChat, Forum, and Telegram. The requirements of BTS users for data visualization will be widely collected and analyzed for their rationality (see “User Demand Analysis” for current collections).

I find it strange that you list this investigation as part of the tasks you're going to fulfill, yet at the same time you list all the tasks needed to fulfill these requirements *and* you're able to put a price tag on it.

134
General Discussion / Re: suggest to disable forcesettlement for bitCNY
« on: November 07, 2018, 12:55:23 pm »
From all the previous discussion around BSIP-42, my understanding was that this situation indicates an oversupply of bitCNY.

Shorters can now buy bitCNY on the market and reduce their own debt positions, which should reduce supply, drive the market price down and improve their collateral ratio, thereby reducing the likelyhood that they will be settled.

No need to change the rules yet again IMO.

135
Quote
a. ElasticSearch Plugin
https://github.com/bitshares/bitshares-core/wiki/ElasticSearch-Plugin
ES has been a good plugin. It has provided a very comprehensive unstructured storage and an indexing of historical transactions and objects on BTS. By the way, ES gives us a lot of inspiration.
But there are some shortages,

1) Cumbersome. ES requires extremely high performance for the server;
2) The synchronization time is too long, lacking of a fast-built solution. Currently, as far as we know,  the usage of ES Plugin for data query or data analysis is limited.
3) Some content (such as related information of the transaction) is not structured. Indeed, ES stores them directly, which cannot satisfy some customized queries.

What makes you think that Postgresql will be better in that regard?
* ES scales easily and was designed for cluster installations, postgres wasn't.
* Synchronization time for Postgresql will most likely be even longer than for ES.
* Operation details will be structured in ES plugin in upcoming release.

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