Author Topic: New bitCNY - Investment vehicle like no other. Congrats transwiser, committee!  (Read 1642 times)

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Offline Bhuz

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The focus of this post you made, is on IF the disabling of the settlement function is temporary (as the committee said) or permanent (as you claim). Stick to it.

Plus: It's very funny that a guy like you that is pretty much always ironic and sarcastic can not recognize a so obvious ironic provocation

Offline tonyk

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@tonyk
So, we told that this is a temporary solution, but you don't believe in this statement, right?
That is ok... I don't believe you too when you say that the force settlement will be permanently disabled!

Let's see who is right!

Anybody wanna bet?!

Are you serious?

Aren't the lows you already reached as a committee [counting posts on this forum as a way to decide what to do] enough? So you plan on voting based on the bets you have personally made?

@tonyk
Me counting posts?

The point of the discussion is that the disabling of the settlement function is temporary. Why are you changing subject now?

Do I have to ask you if I can be ironic the next time? Maybe only you have the permission to be ironic and sarcastic all the time?

you as part of the committee...
« Last Edit: November 29, 2015, 09:30:57 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Bhuz

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@tonyk
So, we told that this is a temporary solution, but you don't believe in this statement, right?
That is ok... I don't believe you too when you say that the force settlement will be permanently disabled!

Let's see who is right!

Anybody wanna bet?!

Are you serious?

Aren't the lows you already reached as a committee [counting posts on this forum as a way to decide what to do] enough? So you plan on voting based on the bets you have personally made?

@tonyk
Me counting posts?

The point of the discussion is that the disabling of the settlement function is temporary. Why are you changing subject now?

Do I have to ask you if I can be ironic the next time? Maybe only you have the permission to be ironic and sarcastic all the time?

Offline tonyk

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@tonyk
So, we told that this is a temporary solution, but you don't believe in this statement, right?
That is ok... I don't believe you too when you say that the force settlement will be permanently disabled!

Let's see who is right!

Anybody wanna bet?!

Are you serious?

Aren't the lows you already reached as a committee [counting posts on this forum as a way to decide what to do] enough? So you plan on voting based on the bets you have personally made?

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Bhuz

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@tonyk
So, we told that this is a temporary solution, but you don't believe in this statement, right?
That is ok... I don't believe you too when you say that the force settlement will be permanently disabled!

Let's see who is right!

Anybody wanna bet?!

Offline btstip

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Hey fav, here are the results of your tips...
  • tonyk: has been credited 10 MEGUSTA
Curious about BtsTip? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!
Created by hybridd

Offline fav

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#sharebits "tonyk" 10 MEGUSTA

I usually do not agree with you, but this is a real problem.

- most of committee elected due to some Chinese whales
- Transwiser on top of the committee
- "our" members prove a lack of foresight and were unable to block this until the situation was clearly measured

I hope @bytemaster decides to split his funds to community proxies, we need morre voting power and more independent people in the committee.

Tuck Fheman

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Not forcing changes in the system by lying to the committee about inexistent losses, will be a good start on their behalve, as well.



Offline tonyk

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Tony, can you provide constructive explanation how the settlement really works and how transwiser can minimize the risks, instead of being sarcastic?

By fighting the true wrong rules - SQP - "Shorts' Quality of Punishment", for example...instead of defending their own interests by changing other arbitrary rules that prevents them from keeping their unrealistic promises. Not forcing changes in the system by lying to the committee about inexistent losses, will be a good start on their behalve, as well.
« Last Edit: November 29, 2015, 04:41:31 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline tonyk

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no, someone has lost,  but that's not me, I demand to take actions not because anyone has suffered loss, but because the force settlement rule put a group of people in danger of getting big loss.

the reason why mankind is mankind, partly because they can forecast and take actions to prevent some bad thing from happening.

Yes, I know these are the people I try to protect from your crap! The one that bought bitCNY thinking they can sell at the peg by force settlement and now only can do it for 35% loss....only so you can keep your unrealistic promises, while not losing a dime.

why 35% loss? who? tell me,  with snapshots at best.

sure... Trying to sell 3000-5000 CNY





for any amount worth talking , well somewhat , (1000CNY?) buy at 35 sell at 55... 57% spread
« Last Edit: November 29, 2015, 04:38:33 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline clayop

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Tony, can you provide constructive explanation how the settlement really works and how transwiser can minimize the risks, instead of being sarcastic?
Bitshares Korea - http://www.bitshares.kr
Vote for me and see Korean Bitshares community grows
delegate-clayop

Offline tonyk

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Quote
yes you are wrong - as in "it is not up to you to decide who is running a real business". And I might be wrong but real businesses do not complain for losing 20 BTS.

Who's lost 20 BTS, who is complaining, and what does this have to do with this thread on SQP?   I think Transwiser is running a real CNY gateway business and I'm sure people there lost a lot more than 20BTS.  Who said it was ever my decision to decide what is a real business?...
How exactly did they lose more than 20 BTS?

I don't know what the exact amount is, but ask JohnnyBitcoin.  He was one of the ones using the force settlement so he can probably give you an estimate.   

I have not used the forced settlement but I can give an exact number on their losses [due to the settlement]

Zero!


PS
Now, there is only one person that knows about exactly who made what and how much in the whole settlement fiasco, but it is not me. For that info you should ask scotter.
I do not know if he will ever  speak, but I will be all ears if he does.
settlement's loss is zero? the loss is very complex, not a simple math question.
for example, transwiser borrow 100bitCNY, sell it to others for 100.2 CNY.
then somebody ask force settle at price 0.02CNY/BTS, transwiser get 100bitCNY, lost 5000 BTS.
how many loss or profit do you think it is?

may I ask you if you agree I can sell or buy all your BTS at latest market price anytime?
if you don't agree, the shorter's also don't want to accept this rule, so nobody will short if they all know what situation they have to  face.
No this not a math problem, it is a simple question - How much were the exact losses of transwise before they lied to the committee members, claiming huge losses so they can change the system to their liking?
I don't know if you are really stupid or pretend to be stupid.

Same question to you!

Get the numbers down. All of them - not they bought X (no price provided), they were liquidated. They lost Y.

Do not get me wrong - I get the theory how this can happen -1. I just say it takes days to  happen  2. I claim that no such thing occurred in practice 3. You / transwiser claim theoretical losses that not only did not happen, but you include stuff that is not due to the force settlement but their own doings and general market risk.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline tonyk

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Few thought it was even possible, no ano thought it will  ever  be done. Yet they did it, so for that Congrats to all involved!



The first ever currency that no one wants to buy, the first currency that no one wants to sell. At one at the same time, mind you!


Why? the short sellers are screwed, as always, with at least 10% due to the shorts quality of punishment rules to name just one, the buyers have no guarantee at what price they gonna sell, due to convenient recent removal of the force settlement at the feed. [And good luck committee member if you think it is temporary, good luck with getting transwiser to vote back on that]. What is the results of those 2? The difference between buy and sell price of 57%  for any semi-reasonable amount [buy at 35 bts- sell of 55 bts/bitCNY current prices]

You do not believe this is a great achievement? Think again! Is there another investment with this kind of enormous flexibility? No, there is not!
The new bitCNY is so unique it is somewhat oxymoronic. - When you expect the price to go up you as well might sell, when you expect the price to go down buying into it is as safe as any other course of action you might take. The greatest financial discovery...ever.

Here is how its main feature works:
You expect the price to go up. So you sell at the sell price.... even if you are correct and the price moves against you? You are SAFE as with nothing else out there. Even if the price moves 57% in the wrong direction you just buy at the buy price... and you are as golden as not being on the wrong side of the trade. Same marvelously works if you wanna bet wrong in the other direction

ENJOY!!!!
« Last Edit: November 29, 2015, 02:15:42 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.