Proposal for witnesses & committee (MPA Ruble)

[blockchained]

By the way, currently MSSR of RUBLE is 150%, not like other smart coins (110%). Perhaps it's best to ask witnesses to change it to 110% ?

fully agree, better to unified all bitASEETS

thanks for informing

[abit]

The committee is voting on a proposal that changes parameters of RUBLE to same as other committee-owned smart coins:
http://cryptofresh.com/p/1.10.3804

By the way, currently MSSR of RUBLE is 150%, not like other smart coins (110%). Perhaps it's best to ask witnesses to change it to 110% ?

[yvv]

Congratulations! The RUBLE is doing pretty well. Good job. When is a gateway coming?

[blockchained]

Hi, everyone!
So it’s been quite some time since the launch of the RUBLE.

We did our best to bootstrap a market which now works perfectly fine.

Today we’ve transferred an ownership of a RUBLE MPA to committee so that the community could fully control this national market.

http://cryptofresh.com/a/RUBLE

[blockchained]

I just updated to 0.4.10, but the asset does not have the "Witness fed asset" tag and since I am not on the list my RUBLE price feed is not being published.

It wasn't clear that you wish to publish price feeds, but we have 2 more places
I'll add you to the list

---
UPD

https://market.rudex.org/block/15999612

Few posts ago @alt asked you to change the flag on the asset so all active witnesses can do the price feed. I think it will be a better solution than trying to lock it in to a specific group of people. I think it would be a better long term solution.

Starting today any witness can give a price feed on RUBLE

https://market.rudex.org/block/16475619


next step (when we reach at least 20 price feed producers), is to give an ownership over RUBLE to the committee

[sahkan]

I just updated to 0.4.10, but the asset does not have the "Witness fed asset" tag and since I am not on the list my RUBLE price feed is not being published.

It wasn't clear that you wish to publish price feeds, but we have 2 more places
I'll add you to the list

---
UPD

https://market.rudex.org/block/15999612

Few posts ago @alt asked you to change the flag on the asset so all active witnesses can do the price feed. I think it will be a better solution than trying to lock it in to a specific group of people. I think it would be a better long term solution.

[blockchained]

I just updated to 0.4.10, but the asset does not have the "Witness fed asset" tag and since I am not on the list my RUBLE price feed is not being published.

It wasn't clear that you wish to publish price feeds, but we have 2 more places
I'll add you to the list

---
UPD

https://market.rudex.org/block/15999612

[sahkan]

I just updated to 0.4.10, but the asset does not have the "Witness fed asset" tag and since I am not on the list my RUBLE price feed is not being published.

[Thom]

I have also started publishing a price feed for RUBLE, and released bts_tools 0.4.10 that implements it.

Note that you will have to explicitly enable RUBLE feed publishing if you need it, like so: https://github.com/wackou/bts_tools/blob/master/bts_tools/config.yaml#L89

Fantastic. I will start publishing RUBLE later today.

[wackou]

I have also started publishing a price feed for RUBLE, and released bts_tools 0.4.10 that implements it.

Note that you will have to explicitly enable RUBLE feed publishing if you need it, like so: https://github.com/wackou/bts_tools/blob/master/bts_tools/config.yaml#L89

[iHashFury]

delegate.ihasfury is publishing RUBLE price feed

I will also start shorting for BTS 

[rnglab]

rnglab started publishing RUBLE price, thanks for the confidence.
I'll add more feed sources as soon as I can.

Good luck with this project, let me know if I you need something else.

[blockchained]

All participants will be notified in private message and could start produce a price feed on RUBLE

[blockchained]

Thank you for your support, I add you to the feed producers waiting list
I'll send notification when we update the list to start a price feed

FYI - I will update my nodes to use the latest bts_tools from @wackou, and will produce a price feed for RUBLE as well.

Thank you for your support

I presume we're talking about publishing on the BitShares blockchain, so I'm not sure I understand the waiting list is all about.

We can choose a price-feed producers for RUBLE among this options:

- committe members
- witnesses
- list (10 max) of accounts that could produce feeds

We choose third option to bootstrap the market and don't wait for anyone

We wait a resurrection of bitRUB after this we want to shift RUBLE to bitRUB

[Thom]

Thank you for your support, I add you to the feed producers waiting list
I'll send notification when we update the list to start a price feed

FYI - I will update my nodes to use the latest bts_tools from @wackou, and will produce a price feed for RUBLE as well. I presume we're talking about publishing on the BitShares blockchain, so I'm not sure I understand the waiting list is all about.

[blockchained]

Thank you for your support, I add you to the feed producers waiting list
I'll send notification when we update the list to start a price feed

[wackou]

I am in the process of updating my bts_tools monitoring tools for witnesses and am ready to publish a feed for RUBLE as soon as I get approved. Thanks a lot and great initiative!

[blockchained]

@blockchained
Hey, could You please set permission to provide ruble feeds to our witness account openledger-dc?

Thank you for your support, I add you to the feed producers waiting list

[blockchained]

actually I don't know how bitRUB is broken, and am not aware if there is a plan to fix it.

This

Because to fix a bit.RUB we need a hardfork, and the last hardfork was 2 years ago

Could you please explain how/when/why did bitRUB break? Why do we need a hard fork in order to fix it?

In the early days of BitShares 2, we probably had a glitch in the feed scripts that published a price feed that was way of the actual values. The end result was that bitRUB black-swanned. No new bitRUB can be issued anymore right now and the existing bitRUB (probably just a few $ worth of RUB) are stuck. Only a hard fork can either revive the asset, or add functionalities that allow shareholders to revive it.

Thanks for your advice @bitcrab , in our plans to shift RUBLE to bitRUB as fast as it will resurrect

[ivandev]

@blockchained
Hey, could You please set permission to provide ruble feeds to our witness account openledger-dc?

[bitcrab]

glad to see this.

actually I don't know how bitRUB is broken, and am not aware if there is a plan to fix it.

in my view, the best way is to fix bitRUB, but if that is not so feasible, to create a new smartcoin is also ok.

as I have run private smartcoin TUSD and TCNY for sometime, I'd like to share my view on this:

1. it will be helpful to do some modification to the force settlement parameters, actually now committee is modifying that of 15 smartcoins based on what we learn from bitUSD and bitCNY. details can be found here: https://bitsharestalk.org/index.php/topic,23220.msg304424.html#msg304424

2. transfering the ownership to committee will help a lot to get trust from community.
about 1 year ago, I am not satisfactory with the parameters of bitCNY so I decided to create private smartcoin TCNY, also using multisig, however, later I found it's not easy for TCNY to get trust from the community as bitCNY did. obviously community prefer to trust committee more than a simple multisig account, as committee account is a voting result and multisig is just a group.

so finally I decided to give up TCNY and try to update bitCNY, after a lot of argument bitCNY is updated to its current status and works well.

[yvv]

Could you reduce MCR to 1.5?

Could you elaborate why?

To give more leverage to shorters. MCR=1.5 gives 2x leverage. MCR=1.75 gives 1.33 leverage, not much to take a risk shorting, instead of just holding BTS.

[blockchained]

Could you reduce MCR to 1.5?

Could you elaborate why?

[blockchained]

this is real business owned by yourself,
in fact you never need to wait for bitRUB
if you want to resolved trusted issue, just need to give owner's priority to multi account trusted by RUSSIA community. @bitcrab should can give you much advice.
you have my support, as one of the most important thing for Bitshares development.

This!

Also note that you can pick your own fee producers instead of relying on witnesses.
Just drop me a mail if you want to go that route, I can assist you with that.

Yes we chose this way (list of 10 accounts that can produce feeds) and already start to produce feeds from minimum amount of producers (3 in our case)

It's just our good will to give a possibility to witnesses and committee to be involved in this process of price feed for the national currency.

[blockchained]

Hey good to know the RUB black swan event didn't stop you from starting your business.
I will provide RUBLE price feeds as a witness.

I'd just ask not to vote me or other witnesses just because of that, but also taking into consideration  other behavior parameters that you consider important for the network.

OT: are you related to blockchained.com?

Thank you for your support, I add you to the list

One of the parameters important for us is a will to give a price feed on MPA RUBLE

No, we are not related with blockchained.com

[xeroc]

this is real business owned by yourself,
in fact you never need to wait for bitRUB
if you want to resolved trusted issue, just need to give owner's priority to multi account trusted by RUSSIA community. @bitcrab should can give you much advice.
you have my support, as one of the most important thing for Bitshares development.

This!

Also note that you can pick your own fee producers instead of relying on witnesses.
Just drop me a mail if you want to go that route, I can assist you with that.

[rnglab]

Hey good to know the RUB black swan event didn't stop you from starting your business.
I will provide RUBLE price feeds as a witness.

I'd just ask not to vote me or other witnesses just because of that, but also taking into consideration  other behavior parameters that you consider important for the network.

OT: are you related to blockchained.com?

[yvv]

Could you reduce MCR to 1.5?

[blockchained]

this is real business owned by yourself,
in fact you never need to wait for bitRUB
if you want to resolved trusted issue, just need to give owner's priority to multi account trusted by RUSSIA community. @bitcrab should can give you much advice.
you have my support, as one of the most important thing for Bitshares development.

Thank you for your support, you right we don't need to wait for bitRUB

We aim to make a blckchnd account trusted by the Russian community and represent interests of Russian community as a future committee member aswell

Once everything is set up and we are sure that no further adjustments need to be made, we could change the RUBLE issuer and enable multisign scheme. That would be at some point after the official launch of RuDEX and our gateway service.

[blockchained]

I don't understand why we need to do it?
Our MPA is already on the market.
We don't ask for permission, we're offering collaboration.

Ok, but:

We'll change RUBLE to BitRUBLE 1:1, and then close positions and stop price feed on RUBLE

So I gave you simplest solution to make it happen today.
You can even have "bitRUBLE" ("bit" is added in GUI layer anyway.)


It's more about eliminating single point of failure than asking for permission. For now, one account is in total control. If you can build multisig group that you and others can trust then you're in home. You don't need witnesses as feed producers either.

You don't understand I guess,
We have our own gateway, we'll make it possible to deposit/withdraw fiat rubles in the DEX
We are those who will accept this RUBLE, and this market is already live.

We don't need the trust of community or committee or whatever to do what we do that in decentralized environment.

It's just our good will to give a possibility to those who cares about DEX (witnesses) or must care about DEX (committee) to be involved in this process of price feed for the national currency. And more importantly more feed producers reduces this single point of failure thing that you are talking about.

We could have gone the way that bitkapital set up their gateway for Turkish lira, but we opted for a SmartCoin, since it reduces counterparty risk and our own liability. Multisign is a good tool to reduce it even further, but that is offset with ease of use. Once we're sure that there is no need to do any changes, that scheme might be instituted, but that time is yet to come. All we are looking for are people interested in providing more feeds for a national SmartCoin, and from our understanding witnesses/committee members were good people to ask about that.

If you have any constructive suggestions on the Ruble SmartCoin, we are always willing to listen.

[nmywn]

I don't understand why we need to do it?
Our MPA is already on the market.
We don't ask for permission, we're offering collaboration.

Ok, but:

We'll change RUBLE to BitRUBLE 1:1, and then close positions and stop price feed on RUBLE

So I gave you simplest solution to make it happen today.
You can even have "bitRUBLE" ("bit" is added in GUI layer anyway.)


It's more about eliminating single point of failure than asking for permission. For now, one account is in total control. If you can build multisig group that you and others can trust then you're in home. You don't need witnesses as feed producers either.

[alt]

this is real business owned by yourself,
in fact you never need to wait for bitRUB
if you want to resolved trusted issue, just need to give owner's priority to multi account trusted by RUSSIA community. @bitcrab should can give you much advice.
you have my support, as one of the most important thing for Bitshares development.

[blockchained]

You can transfer ownership to committee-account, if they agree.

Changing the issuer

The current issuer of an asset may transfer ownership of the asset to someone else by changing the issuer in the asset’s settings.

I don't understand why we need to do it?
Our MPA is already on the market.
We don't ask for permission, we're offering collaboration.

[yvv]

Committee already owns bitRub. They broke it and can't fix it for two years.

[nmywn]

You can transfer ownership to committee-account, if they agree.

Changing the issuer

The current issuer of an asset may transfer ownership of the asset to someone else by changing the issuer in the asset’s settings.

[yvv]

What happens when bitRUB goes active? What is the plan to transfer?

We'll change RUBLE to BitRUBLE 1:1, and then close positions and stop price feed on RUBLE

Just buy RUBLE and force settle it. This is easy to do.

As for OP subject: come on guys, we need to support this. Gateway in Russia can give BTS a huge boost.

[blockchained]

In awaiting of hardfork when bit bitRUB will become live, we started our MPA - RUBLE.  (http://cryptofresh.com/a/RUBLE)

We need RUBLE for our gateway(https://market.rudex.org/), but this is not the only reason why we started RUBLE MPA.
Another reason is to fix the bit.RUB we need a hardfork and the last one was a couple of years ago.

For this MPA RUBLE we chose an option to give a price feed by the list of 10 accounts.

Minimum feeds: 3


What happens when bitRUB goes active? What is the plan to transfer?

We'll change RUBLE to BitRUBLE 1:1, and then close positions and stop price feed on RUBLE



So we have a proposal for witnesses/committee out there:

- You wish to start a price feed on RUBLE (http://cryptofresh.com/a/RUBLE)
- You write down your witness/committee nickname
- We collect all (max. 9) nicknames of participants and put them on the list of those who gives a feeds for RUBLE
- You start a price feed for RUBLE
- We vote your witness/committee with our proxy


Why we chose this way to publish feeds? Because we want to vote on those who helps us to develop bitshares ecosystem and represent our interests



list of those who already wish to participate:

1. blckchnd
2. litvintech
3. sahkan-bitshares
4. on0tole*
5. delegate.baozi
6. rnglab
7. openledger-dc
8. wackou
9. verbaltech2
10. delegate.ihashfury

*For now, we are giving a price feed from 4 accounts (blckchnd, ruslan, on0tole smailer) to cover the minimum amount of price feeds, but if we’ll have a support from other 9 accounts (committee/witnesses) we’ll keep only our witness - blckchnd

As to the point that creating a privatized MPA is not the best way to get trust of the community, I’d like to point out, that we already did a lot to do just that, and also, since we are in decentralized environment, and it is technically difficult to resurrect bitRUB, we decided, that it would be better to do this, and explain ourselves after, than waiting. Our intent is to have an instrument that will be decentralized, and use it till bitRUB is resurrected, then we’ll switch over to that, but that was mentioned earlier.