Author Topic: Committee proposal to re-enable force settlement  (Read 4896 times)

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Offline bytemaster

I encourage someone else to come up with an alternative price feed script so we can get some diversity. 
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Offline fav

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+5%

let's see if our selfless Chinese Whales Committee members are going to vote for this.
what should you do if selfless Chinese don't do this?will you cry? my little baby
I ask to disable the forum admin from this kid

it's fine, no hard feelings. you're showing the world how competent you are as a committee member (alt = baozi).

+5%

let's see if our selfless Chinese Whales Committee members are going to vote for this.
what should you do if selfless Chinese don't do this?will you cry? my little baby
I ask to disable the forum admin from this kid

this is shameless alt, I did not know you are an idiot.

please refrain from personal attacks, thank you.

Offline Ander

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This is good news.

Regarding the force settle, does it occur at the feed with no penalty at all?  I think that if there was even a small penalty, like 1%, then it would make it a lot harder for people to profit via forced settlement by controlling the BTS price.  The small penalty would swing it back into the bitAsset shorts favor in the long term.

But it seems the plan is that you can force settle a bitCNY at 1.00 CNY, and that shorts will want more than 1.00 CNY in order to create one, to protect themselves.  That is, we have a price floor on bitAssets, but the price can rise some above the floor. 

I guess its just really important for people to not short bitAssets unless they are getting a a bit of a premium, to protect themselves from this.
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Offline tonyk

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+5%

let's see if our selfless Chinese Whales Committee members are going to vote for this.
what should you do if selfless Chinese don't do this?will you cry? my little baby
I ask to disable the forum admin from this kid

this is shameless alt, I did not know you are an idiot.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline alt

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+5%

let's see if our selfless Chinese Whales Committee members are going to vote for this.
what should you do if selfless Chinese don't do this?will you cry? my little baby
I ask to disable the forum admin from this kid

Offline mindphlux

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Update: after theoretical has confirmed that GRAPHENE_DEFAULT_FORCE_SETTLEMENT_MAX_VOLUME is indeed set to 20%, the committee has worked with the devs to create another update asset proposal to change the value to 2%.

We set the expiredate to the same as the other proposal, so both parameter changes will go live in roughly 14 hours from now.

You can review the proposal here: http://cryptofresh.com/p/1.10.21
Thx to @roadscape for quickly adding this new view!
Thx to @theoretical for reacting so quickly and creating the asset proposal!
« Last Edit: December 02, 2015, 09:59:42 pm by mindphlux »
Please consider voting for my witness mindphlux.witness and my committee user mindphlux. I will not vote for changes that affect witness pay.


Offline fuzzy

Good job! Fast and delivered as advertised!
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this ^^ about brought a tear to my eye.  well played @38PTSWarrior, well played, sir.
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Offline puppies

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Voted.

Also.  Armed with the knowledge that I will be able to settle at the price feed, and with the price feed being corrected.  I will be placing orders for bitCNY.  I am confident being long bitCNY, because I know I can exit at any time.  If you are concerned about cny being force settled, please join me in helping to create much needed liquidity in the CNY market. 

The feed is still a little off.  Please urge your witnesses to update their feed script.

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Offline clayop

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Offline Bhuz

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 +5%

let's see if our selfless Chinese Whales Committee members are going to vote for this.

Offline btstip

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Hey 38PTSWarrior, here are the results of your tips...
Curious about BtsTip? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!
Created by hybridd

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Good job! Fast and delivered as advertised!
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Offline mindphlux

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Dear community,

Today, we tested the new version of xeroc's price script and have fine-tuned the configuration and the reported CNY price is VERY close to the real counterpart. All other asset prices have been improved too. Thank you very much to @cube @Bhuz and @xeroc for spending so much time yesterday and today for making it possible!

All witnesses have been instructed to upgrade to the newest pricefeed version.

This means we can finally re-enable the force settlement function and have done so in http://cryptofresh.com/p/1.10.19

Best regards
mindphlux

PS: Committee members who support this motion, please post here as well.
« Last Edit: December 02, 2015, 07:50:01 pm by mindphlux »
Please consider voting for my witness mindphlux.witness and my committee user mindphlux. I will not vote for changes that affect witness pay.