Smart Coins & Forced Settlement

[bitcrab]

@clayop
It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

thanks for convincing me that it is correct for committee to disable the force settlement temporarily.

[cube]

I was damn serious for 3 days straight, alt. The only joke I made was the one above.[about jonny settling my short bitusds]

For the teaching others - take for example this shit:

https://bitsharestalk.org/index.php/topic,18475.msg251986.html#msg251986

even after I solve something for supposed bounty no one cares to pay...or explain why they are not paying for the very least.


PS
and brownies I did not get either.
why?
Because they by definition they require not only doing stuff but kissing BM's ass afterwards.

The only thing I actually get from BTS is every changing rules - some even hidden,  seemingly on purpose, that could have cost me 750K BTS if for not very  fast thinking and experimenting to learn what trap BM have in mind for me.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES

give me a break

I can feel you tonyk.  You feel you were unfairly treated.  You are one of the few experienced and smart fellows who dare to speak his mind, although at times in a cryptic and sarcastic manner.  The bad things that happened to you were unfortunate but they do not change the fact that you have made good contributions to the community, in your own way.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES

I can assure you the Committee members are making their decision independently and believe they are doing so for the best interest of Bitshares, not under influence by any so-called whales.  They genuinely felt the need to level the playing field by temporary suspending the 'settle' function and resolving the price feed script 'flaw' (I know, we probably cannot use this term now and have to find a better terminology) but by no means they are changing the rule.

I cannot really speak for others but my own personal view.  I will do the same utmost for you, the referrers or any other users if ever you/they became unfairly exploited due to some system flaws.

[alt]

I find SQP not right (very wrong actually) for this market.

I also am not shorts fan or longs fan - I want things in balance.

The force settlement rule is not so terrible for shorts and a great thing for the long positions holders.

If we do not punish the shorts with anything else unfair they can live well with the forced settlement, imo

thanks for the input, we can focus talking about the settlement finally.
I also want ask others don't say something like: Chinese communitee ...., transwiser ....,  at this thread.
just focus on the settlement rules, just talk about longers, shoters

I need to have a break too

[BTSdac]

I  think this debate sometimes useless , we should focus on the following question
1. Does must need settlement ?
 Yes , I think ,must need , the purpose of settlement  is to keep BTA( bitcny) value ,  describe it by formula is  bitcny:cny >=1,  it mean bitcny (more or less ) more valuable than cny .
2.what is withdraw of settlement?
Shorter have a risk of force settlement though he has a high collateral,    we know short is a exchange with 2 times lever, if you also use the borrowed bitcny buy bts .  so it have high profit/risk. I think it is reasonable .

3. what we can improve?
   3.1 consider just keep bitcny:cny >=0.995,  it mean the settle price is 0.995*feed price ( BTS/CNY,   it is 1.005, if use CNY/BTS)
   3.2 Settle price is when settle execute or the average price of 24 hours before execution  as tonyk`s suggestion
         

           I have a solution for your attack alt - use not last feed price but the 24h average price. It seems like 'expensive' operation but the fee is 1000BTS so it               should cover it.

   

[tonyk]

I was damn serious for 3 days straight, alt. The only joke I made was the one above.[about jonny settling my short bitusds]

For the teaching others - take for example this shit:

https://bitsharestalk.org/index.php/topic,18475.msg251986.html#msg251986

even after I solve something for supposed bounty no one cares to pay...or explain why they are not paying for the very least.


PS
and brownies I did not get either.
why?
Because they by definition they require not only doing stuff but kissing BM's ass afterwards.

The only thing I actually get from BTS is every changing rules - some even hidden,  seemingly on purpose, that could have cost me 750K BTS if for not very  fast thinking and experimenting to learn what trap BM have in mind for me.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES


give me a break

I can fell your feeling about the unfair, but I don't want to say it more.
what you have said the whale is transwiser right?
I'll push to change settlement rule not because of transwiser, but because of BTS
just like I push to change SQP from 1500 to 1100, next to 1000.
why do you support change SQP, but fell angry about change settlement rule?

I find SQP not right (very wrong actually) for this market.

I also am not shorts fan or longs fan - I want things in balance.

The force settlement rule is not so terrible for shorts and a great thing for the long positions holders.

If we do not punish the shorts with anything else unfair they can live well with the forced settlement, imo

[alt]

I was damn serious for 3 days straight, alt. The only joke I made was the one above.[about jonny settling my short bitusds]

For the teaching others - take for example this shit:

https://bitsharestalk.org/index.php/topic,18475.msg251986.html#msg251986

even after I solve something for supposed bounty no one cares to pay...or explain why they are not paying for the very least.


PS
and brownies I did not get either.
why?
Because they by definition they require not only doing stuff but kissing BM's ass afterwards.

The only thing I actually get from BTS is every changing rules - some even hidden,  seemingly on purpose, that could have cost me 750K BTS if for not very  fast thinking and experimenting to learn what trap BM have in mind for me.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES


give me a break

I can fell your feeling about the unfair, but I don't want to say it more.
what you have said the whale is transwiser right?
I'll push to change settlement rule not because of transwiser, but because of BTS
just like I push to change SQP from 1500 to 1100, next to 1000.
why do you support change SQP, but fell angry about change settlement rule?

[38PTSWarrior]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s

so you are the guy who want to be settlement because you hold bitUSD short position?
Jonny are the guy who want to ask settlement because he hold bitCNY long position?
this is the reason why you two are so angry for pause the settlement?

of course I want to be settled in bitUSD. What is wrong with that, now?

You do not agree that the shorters should be allowed to make money? Be as it is once in a blue moon?

I agree your operation is correct of course.
but what I want to talk now is about the trade rule, not just for me or for you.

can you tell me what's your opinion without your personal profit?
maybe you'll refuse because I remember you have said you don't want to waste your time for teaching others.
maybe you'll lost chance to make money after you tell your real thought to others.

I was damn serious for 3 days straight, alt. The only joke I made was the one above.[about jonny settling my short bitusds]

For the teaching others - take for example this shit:

https://bitsharestalk.org/index.php/topic,18475.msg251986.html#msg251986

even after I solve something for supposed bounty no one cares to pay...or explain why they are not paying for the very least.


PS
and brownies I did not get either.
why?
Because they by definition they require not only doing stuff but kissing BM's ass afterwards.

The only thing I actually get from BTS is every changing rules - some even hidden,  seemingly on purpose, that could have cost me 750K BTS if for not very  fast thinking and experimenting to learn what trap BM have in mind for me.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES


give me a break

Only one thing to your brown nosing idea. You keep repeating over and over that one must kiss ass for it. Why do you do this? That's why I was so angry. You know how the nazis of hitler did it with the major of berlin? They repeated every day that he is a donkey. It worked.
If you repeat things every day some people will believe it. You are too smart not to know that. Brownie PTS are bytemasters way to keep track of people who helped him. Loyal people, fans who like to do stuff. Now check this. There are people who like helping and who do that because they believe in the person. This therefore has nothing to do with brown nosing.
You are not a donkey, he is not a donkey and i am also not a donkey.

That you deleted your donkey sig was great, thanks

[tonyk]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s

so you are the guy who want to be settlement because you hold bitUSD short position?
Jonny are the guy who want to ask settlement because he hold bitCNY long position?
this is the reason why you two are so angry for pause the settlement?

of course I want to be settled in bitUSD. What is wrong with that, now?

You do not agree that the shorters should be allowed to make money? Be as it is once in a blue moon?

I agree your operation is correct of course.
but what I want to talk now is about the trade rule, not just for me or for you.

can you tell me what's your opinion without your personal profit?
maybe you'll refuse because I remember you have said you don't want to waste your time for teaching others.
maybe you'll lost chance to make money after you tell your real thought to others.

I was damn serious for 3 days straight, alt. The only joke I made was the one above.[about jonny settling my short bitusds]

For the teaching others - take for example this shit:

https://bitsharestalk.org/index.php/topic,18475.msg251986.html#msg251986

even after I solve something for supposed bounty no one cares to pay...or explain why they are not paying for the very least.


PS
and brownies I did not get either.
why?
Because they by definition they require not only doing stuff but kissing BM's ass afterwards.

The only thing I actually get from BTS is every changing rules - some even hidden,  seemingly on purpose, that could have cost me 750K BTS if for not very  fast thinking and experimenting to learn what trap BM have in mind for me.

And after all this some whale comes around, makes the committee change the rules with no need for that and EVEN THOUGH THEY DID NOT LOSE A DIME AND THEY DID NOT KNOW A RULE THAT WAS  KNOWN FOR AGES


give me a break

[alt]

transwiser buy/sell bitCNY at price 1.0CNY/bitCNY with a fee about 0.3%
in fact almost nobody know how to use settlement before it's visible at the web UI. so maybe nobody benifit from it.

What i don't understand is, if the feed was off all this time and didn't get  fix until the force settlement option become visible, who was benefiting all this time?  Doesn't that mean transwiser was profiting from a flaw all this time? Why wasn't it reported earlier? It should have been noticeable.

[alt]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s

so you are the guy who want to be settlement because you hold bitUSD short position?
Jonny are the guy who want to ask settlement because he hold bitCNY long position?
this is the reason why you two are so angry for pause the settlement?

of course I want to be settled in bitUSD. What is wrong with that, now?

You do not agree that the shorters should be allowed to make money? Be as it is once in a blue moon?

I agree your operation is correct of course.
but what I want to talk now is about the trade rule, not just for me or for you.

can you tell me what's your opinion without your personal profit?
maybe you'll refuse because I remember you have said you don't want to waste your time for teaching others.
maybe you'll lost chance to make money after you tell your real thought to others.

[Pheonike]

What i don't understand is, if the feed was off all this time and didn't get  fix until the force settlement option become visible, who was benefiting all this time?  Doesn't that mean transwiser was profiting from a flaw all this time? Why wasn't it reported earlier? It should have been noticeable.

[JonnyB]

@clayop @Bhuz @alt

When instant settlement is back next week you'll have the CNY feeds sorted out and transwiser will have their liquidity bot or will have changed their fees.

Then we can all be happy!  just don't ever disable it again or you will serverly damage the reputation of smartcoins.

I want a functioning free market with low spreads and liquidity not artificial pegs from transwiser.

[tonyk]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s

so you are the guy who want to be settlement because you hold bitUSD short position?
Jonny are the guy who want to ask settlement because he hold bitCNY long position?
this is the reason why you two are so angry for pause the settlement?

of course I want to be settled in bitUSD. What is wrong with that, now?

You do not agree that the shorters should be allowed to make money? Be as it is once in a blue moon?

[alt]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s

so you are the guy who want to be settlement because you hold bitUSD short position?
Jonny are the guy who want to ask settlement because he hold bitCNY long position?
this is the reason why you two are so angry for pause the settlement?

[tonyk]

It's no secret I was buying bitCNY for less than the feed and settling it because I am a rational market participant.
I still have a big sub feed price buy wall up and will continue to profit from it again when instant settlement returns. :-)

I'm not exploiting bitshares I'm exploiting transwiser.

You were potentially exploiting all shorters, and finally Bitshares system.

Yes it's rational profit maximization choice, but based on inaccurate price feed. So are you angry because we fix the price feed and while suspend your free money exploiting?

I for one am so sad you prevented Jonny from exploiting my short bitUSD positions...just when I finally figured out how to be exploited and bam you guys stopped him  /s