Author Topic: Proposal for witnesses & committee (MPA Ruble)  (Read 12804 times)

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Offline 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

Offline 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!
Please vote for witness wackou! More info at http://digitalgaia.io

Offline 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


Offline 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
« Last Edit: April 21, 2017, 02:28:58 pm by blockchained »

Offline ivandev

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

Offline bitcrab

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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.
Email:bitcrab@qq.com

Offline yvv

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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.

Offline blockchained


Offline 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.

Offline 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

« Last Edit: April 17, 2017, 10:13:45 am by blockchained »

Offline xeroc

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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.

Offline rnglab

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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?






Offline yvv

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Offline 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.
« Last Edit: April 16, 2017, 01:22:16 pm by blockchained »

Offline 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:
Quote
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.