BitAsset strategy and Reddit abandonment

[okidoki]

But this is not necessary. I think bitshares should do it again as it was designed in the beginning and leave it alone for good. Together with everything else the volume will come... But no one should be fearful of new changes to the system.

Bitcoin has not changed anything since the beginning and is shitty to use. But this stability and that it can be relied upon gives it its value on my eyes. In the beginning there was no liquidity whatsoever neither...

[puppies]

Not sure what happened here:https://bitsharestalk.org/index.php/topic,20759.0.html

But the reliance on price feeds is something that is really not necessary or a good approach in either case. The original system of a "mirrored price" USD/BTS on centralized exchanges and BTS/BitUSD on DEX was economically speaking sound and should have stayed like it was in my eyes...

I too am saddened that we still rely on feeds.

[Bhuz]

That was not an error on the DEX, but only on CMC side. So no hurt at all for who was trading on the DEX.

[okidoki]

Not sure what happened here:https://bitsharestalk.org/index.php/topic,20759.0.html

But the reliance on price feeds is something that is really not necessary or a good approach in either case. The original system of a "mirrored price" USD/BTS on centralized exchanges and BTS/BitUSD on DEX was economically speaking sound and should have stayed like it was in my eyes...

[Bhuz]

Feed errors like the one experienced today causing problems are not acceptable either. The whole feed system should be abolished as it was in the beginning.

What feed error?

Are you referring to what happened on metaexchange?
Because that was NOT an error on BTS/DEX side

[okidoki]

Overall Bitshares has the most advanced and fascinating technology. But there are some things where I think that BitShares is not moving in the right direction.

1. BitAssets: Total feed dependence instead of pure market logic like in the beginning. The result can be seen when looking at the marketcap of BitUSD. There was a time under the old system where 1.5 million bitUSD existed, which now has shrunk over 90%. Bytemaster hated the fact that there was not enough liquidity in order to exchange huge amounts of BitUSD without effecting the internal market price. But this is no problem in my eyes, this gave opportunity for getting sold BitUSD below the feed price, creating profits which where able to attract people to this marketplace. If not enough collateral would have been put up, so what... somebody gets margin called... others can learn and put more collateral that is it...
Then Bytemaster forbid transactions which were too far from the feed price away, limiting profit opportunities, and this caused people to choose to not participate in this market. Also rule changes are very damaging. People like to have stable rules if they invest in something.
But right now the rules have once again changed as far as I understand it and new changes are already been discussed for the future. So if somebody is holding a BitAsset he does not know what is coming... even negative interest rates are been discussed, following the lead of central banks.
Feed errors like the one experienced today causing problems are not acceptable either. The whole feed system should be abolished as it was in the beginning.

If somebody wants to test some new approaches these should be tested in new, different BitAssets. "BitUSDguaranteedLiquidity" for example., so people who want to choose to stay with the initial system would not have to close their positions in the old system.

2. It seems like Reddit is only allowing posting links to other websites, above all this old bitsharestalk forum: Reddit is really superior compared to this format here. To attract new users, they should be allowed to post their stuff directly in Reddit. Not sure, why someone would force everybody to use an outdated system and register themselves there... The tapatalk application is also horrible...

I really wanted to post this, as I feel sorry when looking at the current state of affairs... I am not able to read constantly thousands of pages of stuff regarding the changes in the market mechanism. So if there is some inaccuracy please correct me. But have in mind that 99.99999% of the people do not have the time to follow these and just do not even start to read if they know that the rules will change in a few months anyway.

So this is my opinion which I wanted to share in a constructive way hopefully.