10k of bitUSD just got destroyed for no reason

[JonnyB]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

Well there is no reason it shouldn't it shouldn't take any buy ordrers  that are above the feed price first is there?

As far as I saw, there were no orders over the feed price when he settled bitUSD.

my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lower

He settled about 24h ago.

He requested settlement 24hrs ago yes but the settlement occurred an hour ago. look at his account it says order filled at 321

[clayop]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

Well there is no reason it shouldn't it shouldn't take any buy ordrers  that are above the feed price first is there?

As far as I saw, there were no orders over the feed price when he settled bitUSD.

my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lower

He settled about 24h ago.

[JonnyB]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

Well there is no reason it shouldn't it shouldn't take any buy ordrers  that are above the feed price first is there?

As far as I saw, there were no orders over the feed price when he settled bitUSD.

my order price of 322 is still there and you can see on the blockchain that it was there at 12:56 when the feed price was lower

[clayop]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

Well there is no reason it shouldn't it shouldn't take any buy ordrers  that are above the feed price first is there?

As far as I saw, there were no orders over the feed price when he settled bitUSD.

[JonnyB]

Brent has been around for a long time... I'm guessing he was in at much higher levels and is just cutting his losses.  Really too bad as he was pretty active too...

You understand that by settling bitusd you are actually buying. so brent was actually purchasing $10k worth of bts.

[JonnyB]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

Well there is no reason it shouldn't it shouldn't take any buy ordrers  that are above the feed price first is there?

[lil_jay890]

Brent has been around for a long time... I'm guessing he was in at much higher levels and is just cutting his losses.  Really too bad as he was pretty active too...

[clayop]

It settles $10k short positions from the bottom collateral level. Buy orders never be matched.

[JonnyB]

Forced settlement is an essential function of smartcoins it is a function that gives guaranteed liquidity at feed price for sellers.

at 23:56pm UTC 20th jan a bts account named BRENTALLSOP had over 10k bitusd force settled at feed price.

I had a buy order for 10k in bitusd at just over feed price.  Why didn't our orders match?

If they had matched , BRENTALLSOP would have got a better price. 10k of bitusd wouldn't have been destoyed, loads of creators of bitusd wouldn't have just had their position liquidated. And I would have got some cheap bitusd.

the exchange engine needs to be updated so orders like this will get matched in the future.