Author Topic: suggest to disable forcesettlement for bitCNY  (Read 2061 times)

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Offline abit

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Re: suggest to disable forcesettlement for bitCNY
« Reply #45 on: November 12, 2018, 09:47:39 pm »
Alternatively, we can keep the 5% offset, but ask witnesses to set a % bottom (in comparison to trading price) when feeding BTS/bitCNY price.
Do you mean with a % bottom to aim for a constant but positive premium? Or what is the bottom?
No. It's related to the context.
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Offline Customminer

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Re: suggest to disable forcesettlement for bitCNY
« Reply #46 on: November 12, 2018, 09:54:33 pm »
tomorrow the poll will be closed, please vote to express your opinion.
Create a worker proposal based poll, not an easily manipulated forum poll - I had to re-cast my vote for some reason and there's a new poll option now.. not ideal. 20% is way too much for force settlement offset 👎
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Offline Digital Lucifer

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Re: suggest to disable forcesettlement for bitCNY
« Reply #47 on: November 13, 2018, 05:58:15 am »
tomorrow the poll will be closed, please vote to express your opinion.
Create a worker proposal based poll, not an easily manipulated forum poll - I had to re-cast my vote for some reason and there's a new poll option now.. not ideal. 20% is way too much for force settlement offset 👎

Well, i stated earlier in TG that 15% would be sufficient by my personal opinion, but anyway - quite more happy with 20% change option than any other included in the poll
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Offline Thul3

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Re: suggest to disable forcesettlement for bitCNY
« Reply #48 on: November 13, 2018, 11:14:20 am »
Quote
Create a worker proposal based poll, not an easily manipulated forum poll - I had to re-cast my vote for some reason and there's a new poll option now.. not ideal. 20% is way too much for force settlement offset

Create over time 20 accounts and you will win any poll :D

Offline matle85

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Re: suggest to disable forcesettlement for bitCNY
« Reply #49 on: November 13, 2018, 02:14:22 pm »
I'm assuming the vote above is just informative - I guess the Committee have the authority make the decision and if they decide they want to put it to a worker vote on chain they do?

Offline xeroc

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Re: suggest to disable forcesettlement for bitCNY
« Reply #50 on: November 13, 2018, 02:43:22 pm »
I'm assuming the vote above is just informative - I guess the Committee have the authority make the decision and if they decide they want to put it to a worker vote on chain they do?
Correct.
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Offline Thom

Re: suggest to disable forcesettlement for bitCNY
« Reply #51 on: November 13, 2018, 02:44:24 pm »
I'm assuming the vote above is just informative - I guess the Committee have the authority make the decision and if they decide they want to put it to a worker vote on chain they do?

Sure informative, like CNN or fake news.

Rather than admit the sentiment is against this change, those pushing for it will keep trying to spin inputs until they get what they want, damned be the shareholders and contrary opinions.
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Offline matle85

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Re: suggest to disable forcesettlement for bitCNY
« Reply #52 on: November 13, 2018, 03:35:43 pm »
I'm assuming the vote above is just informative - I guess the Committee have the authority make the decision and if they decide they want to put it to a worker vote on chain they do?

Sure informative, like CNN or fake news.

Rather than admit the sentiment is against this change, those pushing for it will keep trying to spin inputs until they get what they want, damned be the shareholders and contrary opinions.

Well the first vote was No and after it was reset and the new option was set the vote was still No.

Some people I would have expected to be against the change aren't though so Ill spend sometime this weekend doing some background reading to see what I'm missing.

My feeling is that we are still in the midst of a pretty serious stress test for BTS stablecoins as the price of BTS has dropped by 90%. That has meant a lot of us have been hurt pretty badly with our margins (I actually had to largely exit mine on the way down with quite a big loss of my BTS).

We need to take this as an opportunity to fix on something that works - the price will go up again during the next bull run but there will be more hard drops and margin holders exposed. The mechanism we figure out over the coming months should maintain the peg / underlying basis for it being a stablecoin above anything else.

Offline matle85

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Re: suggest to disable forcesettlement for bitCNY
« Reply #53 on: November 13, 2018, 03:36:56 pm »
One positive is nobody voted 'Don't care' so at least we are all engaged   ;)

Online zhouxiaobao

Re: suggest to disable forcesettlement for bitCNY
« Reply #54 on: November 14, 2018, 01:25:01 am »
if it is impossible to disable force settlement, I think there's only one choice to fix the bug: request that the feed price not lower than market price*96% for CNY, not lower than market price for USD.
[/quote

yes,let's do it.the only one choice.