Recent Posts

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91
General Discussion / Re: Announcement on BSIP42 relevant actions
« Last post by abit on October 16, 2018, 11:40:00 pm »
No matter if bitUSD holders convert their bitUSD to BTS via margin calls or via forced settlements, the BTS are (forced) paid by debt positions with least collateral ratio, aka by bitUSD borrowers/creators, so what's the difference? IMHO there is no difference.

bitasset value = max(market price, settlement price)
If you take out settlement, this means bitasset value = market price.
The former formula gives a relative minimum price to the feed, but the latter formula looks exactly like UIAs.

So effectively, taking out settlement will make bitassets the same as UIAs in terms of value.

Thoughts?

Essentially you're saying that if you sell some amount of PMA and nobody will buy, its trading price will be pushed lower than its value.

Actually, you ignored how MPA supply is created and who are on the market. Not like UIAs, PMAs are created with debt positions, this means you won't have unlimited amount to sell. In addition, debt positions are always on the market, with BSIP42 or a dynamic MCR-based mechanism, if you place an order to sell some PMA below its value, there will be margin calls appear to fill your order, thus the trading price would be guaranteed. Force-settlements aren't in this process at all.
92
General Discussion / New mechanism to handle bad debt (black swan)
« Last post by abit on October 16, 2018, 11:29:00 pm »
A bad debt means value of a debt position's collateral is less than value of its debt.

Currently, when a bad debt appears in the system, no matter how small the debt is, global settlement will be triggered and ALL debt positions will be forced closed. IMHO this mechanism is flawed.

Here I propose a new mechanism to handle bad debt, the core ideas are:

1. set up a special account "bad-debt-holder" in the system, with an impossible authority like null-account, so nobody can control it
2. when a new bad debt appears, don't trigger global settlement, instead, convert that debt position to a sell order which will never expire, sells its remaining collateral for its remaining debt, under the "bad-debt-holder" account
3. if the order get filled or partially filled, destroy the (debt) asset received.

In comparison to current mechanism, this new mechanism is much "softer" and more flexible. All state will be on the order book and easy to participate for all traders.

Thoughts?
93
Stakeholder Proposals / Re: [Worker Proposal] On-chain smart contracts for Bitshares
« Last post by bench on October 16, 2018, 11:22:21 pm »
Adding smart contract possibilities is a good thing, but we should not allow smart contracts on the core level.

Performance/costs and security will not rise, when implemented?
94
actually BSIP42 is already active on bitUSD, otherwise bitUSD would have a big premium as before.

BSIP42 is irrelevant to MCR adjusting, the new MCR-based solution should have its own BSIP.

yes we need metrics to evaluate the feed price, as a base I think we need a chart that involve feed price from all witnesses, median price, latest price and some other reference price, seems someone began working on this?

Who's working on it?
95
Stakeholder Proposals / Re: [Witness Proposal] 1.6.129 - zapata42-witness
« Last post by abit on October 16, 2018, 10:43:40 pm »
  • Get BTC/USD, ETH/USD, USDT/USD from CoinMarketCap.com (fallback to worldcoinindex.com)
As discussed in Telegram channel, CMC's price is not reliable thus should be avoided.
96
General Discussion / Re: Announcement on BSIP42 relevant actions
« Last post by armin on October 16, 2018, 10:26:54 pm »
No matter if bitUSD holders convert their bitUSD to BTS via margin calls or via forced settlements, the BTS are (forced) paid by debt positions with least collateral ratio, aka by bitUSD borrowers/creators, so what's the difference? IMHO there is no difference.

bitasset value = max(market price, settlement price)
If you take out settlement, this means bitasset value = market price.
The former formula gives a relative minimum price to the feed, but the latter formula looks exactly like UIAs.

So effectively, taking out settlement will make bitassets the same as UIAs in terms of value.

Thoughts?
97
Technical Support / Re: Error settling BitBTC
« Last post by severo on October 16, 2018, 08:30:20 pm »
Thanks, I did not know that there had been a black swan event in BitBTC. Nor that the feed price was not the real one.

The DEX should clearly warn of this type of circumstances, showing the actual status of a Smart Asset. It is not acceptable that the feed price shown causes confusion.
98
voted !
99
Great initiative, and as seen separately in telegram chats, let alone the marketing oppty being fantastic - it is holding further value coinciding at a well timed moment - to place some of the best minds in our community together in the same time and room ... what's not to like
100
Chinese and Korean Versions of dex.openledger.io Are Now Available



OpenLedger DEX Team has some stunning news to share with you today. Over the past couple of weeks, we have been working hard to make this website available in other languages.

Serving the needs of our multi-language audience, we already translated our decentralized trading platform into 10 languages. Now we’re getting even closer to you by enabling Chinese and Korean versions at dex.openledger.io.

And that’s not all! We also hired community managers for Asian markets to communicate with you on local social media channels:
* Weibo;
* KakaoTalk;
* Naver blog;
* Facebook;
* And others.


For visitors of Chinese and Korean website versions, we maintained the user experience and functionality they got used to on the English website.



Something Old, Something New
To visit a localized version of the website, use the language switcher at the top-right corner of the page.



Switch back to the English language anytime staying on the same page. We also created new social media channels for the Asian community. Check them out on websites’ Homepage and in the footer.




Read news and announcements, explore our offerings and services, subscribe to newsletters, log in to your account and trade on OpenLedger DEX — all in your mother tongue.





Follow OpenLedger on socials!

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