Author Topic: instant profits from instant settlement?  (Read 5105 times)

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Offline alt

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I would ask all witness adjust SQP to 1001, and set feed price to a high than low, at this time, it's 0.021CNY/BTS.
it's time to protect all shorters!

changing SQP doesn't help at all in this case.  you might as well set it to 0000, if you're advising 1001 or lower. 

the current BTS:CNY market is a perfect example of how little changing SQP is going to effect the price.  SQP is currently 1100 and  CNY:BTS is trading around 0990 - 0995. 

If there are no orders being margin called , like the current situation, SPQ is not even a factor.  If it was, all these buy orders would be sold into down to 10% below settlement price or until the margin order was filled.  SQP doesn't do anything if there are no undercollateralized orders.
yes, change SQP to 1001 is not for this case.
it's for protect shorters and add liquility, talk at another thread
https://bitsharestalk.org/index.php/topic,20201.msg260991.html#msg260991

if bitUSD's holder can use settle to protect their profit, I can't find any reason why we need to set SQP to 1100 .
« Last Edit: November 27, 2015, 02:33:20 am by alt »

Xeldal

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I would ask all witness adjust SQP to 1001, and set feed price to a high than low, at this time, it's 0.021CNY/BTS.
it's time to protect all shorters!

changing SQP doesn't help at all in this case.  you might as well set it to 0000, if you're advising 1001 or lower. 

the current BTS:CNY market is a perfect example of how little changing SQP is going to effect the price.  SQP is currently 1100 and  CNY:BTS is trading around 0990 - 0995. 

If there are no orders being margin called , like the current situation, SPQ is not even a factor.  If it was, all these buy orders would be sold into down to 10% below settlement price or until the margin order was filled.  SQP doesn't do anything if there are no undercollateralized orders.   


Offline alt

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I would advice add a parameter for settle price rate: settle price = feed price * rate
the rate's range can adjust from 95% to 105%, mostly it should more than 100%

and need another logic to protect shorters, if a shorter's colla rate is more than 200%,  no one can settle from him.
« Last Edit: November 27, 2015, 02:15:32 am by alt »

Offline lzr1900

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finally I know what 'settle' means ......
this is really suck

bts's price is 0.021CNY/BTS at BTC38
but most witness give a feed price at 0.02 CNY/BTS, so the settle price is 0.02

what will happen?
people sell BTS at BTC38 at price 0.021, get fiat CNY, then sell fiat CNY to transwiser, get bitCNY, then settle at the wallet, buy back BTS at price 0.02
who gets hurt? the shorters again! why we always hurt the shorters? they provide liquility, but we hurt them again and again

I would ask all witness adjust SQP to 1001, and set feed price to a high than low, at this time, it's 0.021CNY/BTS.
it's time to protect all shorters!
yes

Offline alt

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finally I know what 'settle' means ......
this is really suck

bts's price is 0.021CNY/BTS at BTC38
but most witness give a feed price at 0.02 CNY/BTS, so the settle price is 0.02

what will happen?
people sell BTS at BTC38 at price 0.021, get fiat CNY, then sell fiat CNY to transwiser, get bitCNY, then settle at the wallet, buy back BTS at price 0.02
who gets hurt? the shorters again! why we always hurt the shorters? they provide liquility, but we hurt them again and again

I would ask all witness adjust SQP to 1001, and set feed price to a high than low, at this time, it's 0.021CNY/BTS.
it's time to protect all shorters!

Xeldal

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yes there is, unfortunately polo's withdrawals seem down...as well as their customer support

Yunbi is also having deposit/withdrawal issues. 

Offline tonyk

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yes there is, unfortunately polo's withdrawals seem down...as well as their customer support
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline JonnyB

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well here's a free money opportunity

I run the @bitshares twitter handle
twitter.com/bitshares

Offline JonnyB

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so when you settle does it take the price at the time or the price in 24hrs when it actually settles?
I run the @bitshares twitter handle
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Xeldal

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Am I right in thinking If I buy smartcoin with bts for less than the settlement price I can then instantly settle it and make a profit?

yes, keeping in mind the fees of course. And the delay, whatever it is.  24 hrs right?

Anyone selling you a smartcoin below the peg has made an error as they could have settled at the feed for more.  It shouldn't happen, but I'm sure its possible with low liquidity.  There is also a fee for using settlement, I'm not sure what it is though.

Offline JonnyB

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Am I right in thinking If I buy smartcoin with bts for less than the settlement price I can then instantly settle it and make a profit?
I run the @bitshares twitter handle
twitter.com/bitshares