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51
General Discussion / Re: New BSIP:GS protection via core code
« Last post by binggo on July 19, 2019, 12:59:14 pm »
The market will run as your thought? en,that's very interesting.

How about we just increase MSSR to to least 5%? Margin calls will be bought before GS happens. If you continue to 100% protect the debt holders GS events will happen all the time.

If you settle the under collateralized positions to smart coin owners that's just stealing from them and goes against DEX rules.
52
General Discussion / Re: New BSIP:GS protection via core code
« Last post by sahkan on July 19, 2019, 12:52:15 pm »
How about we just increase MSSR to to least 5%? Margin calls will be bought before GS happens. If you continue to 100% protect the debt holders GS events will happen all the time.

If you settle the under collateralized positions to smart coin owners that's just stealing from them and goes against DEX rules.
53
Somebody maybe knows why the volume and price of BTS of BitShares Asset Exchange have been excluded on CMC ?
https://blog.coinmarketcap.com/2019/05/01/happy-6th-birthday-data-alliance-block-explorers-and-more/

"Data Accountability & Transparency Alliance (DATA)" section.

In short, CMC asked every exchange to provide something to them, but we didn't do it.
54
General Discussion / Re: New BSIP:GS protection via core code
« Last post by abit on July 19, 2019, 12:23:47 pm »
Why have many threads to discuss the same thing?

https://github.com/bitshares/bsips/issues/179#issuecomment-512175417

IMHO @bitcrab and @sschiessl were essentially saying the same thing, which is the 2nd option as I described in the BSIP issue: simple GS protection.
* allow undercollateralization
* no globally settlement
* no individual settlement, the system don't take over the undercollateralized debt positions
* when undercollateralization happens and someone tries to settle, fill the settlement request with the positions with lowest CR first, so first settler will get less

I'm for the 4th option now:
* allow undercollateralization
* no globally settlement
* has individual settlement, the system take over the undercollateralized debt positions (which would form a pool)
* when undercollateralization happens and someone tries to settle, fill the settlement request with the positions with lowest CR (can be the pool) first, so first settler will get less

I think the mechanism that I proposed in https://bitsharestalk.org/index.php?topic=27273 favors debt holders too much.
* allow undercollateralization
* no globally settlement
* has individual settlement, the system take over the undercollateralized debt positions (which would form a pool)
* when undercollateralization happens and someone tries to settle, fill the settlement request with the fully-collateralized positions with lowest CR (can be the pool) first, so settlers will always get the same unless the asset is globally undercollateralized.


Perhaps best if the core provide all the options, and let asset owners decide to choose which one.
55
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    57
    Somebody maybe knows why the volume and price of BTS of BitShares Asset Exchange have been excluded on CMC ?
    58
    General Discussion / Re: New BSIP:GS protection via core code
    « Last post by bitcrab on July 19, 2019, 10:45:07 am »
    then bitUSD holders begin to exploit debt position owners with force settlement.

    even worse, the last bitUSD balance cannot do force settlement, it can only fill the settlement orders with higher price.

    I don't understand how that exploit works. If I force settle while there are positions with CR < 1 are present, I settle for BTS that are worth less then 1 USD, accepting the undercollaterization. This also closes out the bad margin position, but that is of course the risk of running a undercollaterized position (it's a loss-loss scenario so I expect this is not an exploit for you). In my scenario force settlement still eats the margin position with least CR. There will of course be margin call orders with a price different than the feed price, but that does not force the traders to deviate from the peg. Can you please make another example please?

    you cannot force settle debt positions with CR<1 with market price, as that will lead to a debt position with pure debt and 0 collateral, which is not allowed.

    you can only force settle debt position with CR<1 with price higher than market price, bitUSD holders obviously will select to force settle debt positions with CR>=1, as it is cheaper.

    while bad debt appear, bitUSD is easily be devaluated, as it is not backed by sufficient BTS.

    you use devaluated bitUSD(insufficient collateral) to force settle a debt position in market price, is it fair?
    59
    General Discussion / Re: New BSIP:GS protection via core code
    « Last post by sschiessl on July 19, 2019, 10:16:14 am »
    then bitUSD holders begin to exploit debt position owners with force settlement.

    even worse, the last bitUSD balance cannot do force settlement, it can only fill the settlement orders with higher price.

    I don't understand how that exploit works. If I force settle while there are positions with CR < 1 are present, I settle for BTS that are worth less then 1 USD, accepting the undercollaterization. This also closes out the bad margin position, but that is of course the risk of running a undercollaterized position (it's a loss-loss scenario so I expect this is not an exploit for you). In my scenario force settlement still eats the margin position with least CR. There will of course be margin call orders with a price different than the feed price, but that does not force the traders to deviate from the peg. Can you please make another example please?
    60
    General Discussion / Re: New BSIP:GS protection via core code
    « Last post by bitcrab on July 19, 2019, 09:57:31 am »
    this is similar to the individual settlement solution with disabling force settlement as described above, and has similar disadvantages.
    Those debt in settlement pool are <1 MCR and thus is unfair for BitAsset who use force settlement, so force settle does not apply to those in settlement pool.
    No need to disable force settlement for those in low CR list with MCR =>1.


    disadvantage of "individual settlement with force settlement" has also been discussed above.
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