Author Topic: still no response from the witness? still execute stupid bsip42?  (Read 1301 times)

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Online bitcrab

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #15 on: November 22, 2018, 08:48:11 am »
this is just we want, please go through BSIP42 to understand the logic.


There is no logic if the price will continue to drop.
You just don't allow the global settlement price to be lowered by eating margin calls.
Since its already so close for bitUSD to get margin called the only logic would be know to eat the margin wall without a big premium from real market price to lower quickly the global settlement price.
Instead of that you manipulated the feed price so much that nearly no margin is being eaten to lower the global settlement price.
Are you going to take responsability for that global settlement for not allowing the global settlement price to go lower ?
It needs to move to under 3 cents since the bear market is still intact

there's several big issues need to be resolved step by step in Bitshares.

one is that the smartcoin does not peg accurately enough, BSIP42 is to solve this problem, surely a dynamic MCR based solution is better but unfortunately some bugs are there and need several months to fix, that's why BSIP42 is implemented first, and everyone can see BSIP42 really enhance the peg.

the other is the global settling, many are not satisfied with the current global settling rule and ask for update. some new suggestion is being moved forward https://bitsharestalk.org/index.php?topic=27273.0

yes, BSIP42 sometimes make the feed price 10% more higher than the market price, but then how? it enhance the peg, it make bitCNY and bitUSD real stablecoin.

margin called orders are there without being eaten? no big problem, even then we still can see the global settment price for bitUSD drop more than 3% in the past 2 days.

I believe if there is no BSIP42, things will be even worse, maybe the feed price already drop below black swan price. and all the things will be restarted.

after the global settle rule be updated, there will be no need to worry black swan, be patient.
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Offline Thul3

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #16 on: November 22, 2018, 09:10:41 am »
this is just we want, please go through BSIP42 to understand the logic.


There is no logic if the price will continue to drop.
You just don't allow the global settlement price to be lowered by eating margin calls.
Since its already so close for bitUSD to get margin called the only logic would be know to eat the margin wall without a big premium from real market price to lower quickly the global settlement price.
Instead of that you manipulated the feed price so much that nearly no margin is being eaten to lower the global settlement price.
Are you going to take responsability for that global settlement for not allowing the global settlement price to go lower ?
It needs to move to under 3 cents since the bear market is still intact

there's several big issues need to be resolved step by step in Bitshares.

one is that the smartcoin does not peg accurately enough, BSIP42 is to solve this problem, surely a dynamic MCR based solution is better but unfortunately some bugs are there and need several months to fix, that's why BSIP42 is implemented first, and everyone can see BSIP42 really enhance the peg.

the other is the global settling, many are not satisfied with the current global settling rule and ask for update. some new suggestion is being moved forward https://bitsharestalk.org/index.php?topic=27273.0

yes, BSIP42 sometimes make the feed price 10% more higher than the market price, but then how? it enhance the peg, it make bitCNY and bitUSD real stablecoin.

margin called orders are there without being eaten? no big problem, even then we still can see the global settment price for bitUSD drop more than 3% in the past 2 days.

I believe if there is no BSIP42, things will be even worse, maybe the feed price already drop below black swan price. and all the things will be restarted.

after the global settle rule be updated, there will be no need to worry black swan, be patient.

That is not true at all.
First point your priority currently is to hold the peg of bitassets which you can't list on any decent exchanges anyway instead of fixing the high risk of a global settlement and saving the part of community which is holding collaterals which you claimed in the past to be worth most protected.
A global settlement would be a disaster of trust and a big loss of a big part of the community even the platform itself would survive without any doubt.Bitshares already lost many supporters looking now only from the side what is going to happen since they clearly don't wanna take the risk to get their collateral taken via global settlemen which BSIP42 is providing.
Its also not true claiming the CR would be now lower without BSIP42 than with it since wouldn't BSIP42 exist first of all people wouldn't be able to take extra collateral based on the manipulated feedprice so there would be no diffrence at all AND the margin wall would be eaten on its way down to current level.Maybe the BTS price would be lower which i doubt but the CR would be way higher than it currently is and the margin wall not appearing unbreakable.

For me the highest priority is currently to save all collaterals by not allowing a global settlement instead of holding a worthless pegg.
If you want to have the manipulated feedprice than at least increase the MSSR a bit so the margin gets eaten.
An increase of 3%  of global settlement price at current level is a joke.Its just a diffrence of $0.00162 in the real market.
You belive investors feel now saver with this kind of change in global settlement price ?
« Last Edit: November 22, 2018, 09:25:36 am by Thul3 »

Offline Thom

Re: still no response from the witness? still execute stupid bsip42?
« Reply #17 on: November 22, 2018, 03:46:15 pm »
Don't waste your breath Thul3. It's clear the priority of bitcrab et al is to depress and keep the price low so he can accumulate more and sell it high later. He has learned market manipulation from his Keynesian mentors, the mainstream banksters and centralized economic controllers.

His priority is not the long term integrity of BitShares or the disruptive vision BitShares was founded upon for the cause of freedom, nor the concern for collateral which as you say he is putting at risk. When so much profit can be taken earlier (not now, but when BTC and other market movers start to rise again) that is his focus now.

Holding a peg in this bear market? Shouldn't be the primary concern. Safety of ALL investors and preservation of collateral should be. THAT is what will increase trust in the few who are steering this ship.

Bitcrab and the Chinese have truly helped bitshares, I have zero doubt that. But why? That is the trillion dollar question his actions answer. Manipulation is a psychological game of wits, and you must establish trust first for it to be effective.
« Last Edit: November 22, 2018, 10:40:59 pm by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline JonnyB

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #18 on: November 23, 2018, 11:43:53 am »
BSIP42 is a total disaster. It was always going to be. I have always been strongly against it.

feed prices should be the real honest traded prices taken from external exchanges.
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Offline alt

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #19 on: November 23, 2018, 08:45:59 pm »
48 hours past, still no action.
we should remeber those person who still vote for support BSIP42
it's already 5 days later, where are all those witness and committee and delegate?
Does Bitshare already become somebody's private project?

Offline Thul3

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #20 on: November 23, 2018, 10:09:02 pm »
Quote
yes, BSIP42 sometimes make the feed price 10% more higher than the market price, but then how? it enhance the peg, it make bitCNY and bitUSD real stablecoin.

You know how you can define best that current BSIP42 is a failure in regards of releasing pressure ?
Comparing BitCNY with BitUSD.
BitCNY a high liquid market had nearly the same CR like BitUSD which has clearly a lack of liquidity.
If BSIP42 worked so great how come that a liquid market like BitCNY had nearly the same result like a non liquid market ?
The answer at both bitassets margins call's haven't been filled at all.
And wouldn't there be feed manipulation on bitusd the lowest CR of BitUSD of a non liquid market would be higher than the CR of BitCNY which is a way higher liquid market.
« Last Edit: November 23, 2018, 10:18:39 pm by Thul3 »

Offline alt

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Re: still no response from the witness? still execute stupid bsip42?
« Reply #21 on: November 24, 2018, 10:09:05 pm »
still no any react.
the price is only 0.315 CNY/BTS, but the feed price is 0.410.
there are plenty of buy orders had been eatern by normal sell order instead of buy the margin call order.

48 hours past, still no action.
we should remeber those person who still vote for support BSIP42
it's already 5 days later, where are all those witness and committee and delegate?
Does Bitshare already become somebody's private project?