Author Topic: Question To All Active Witnesses #2  (Read 748 times)

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Offline armin

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Question To All Active Witnesses #2
« on: December 28, 2018, 05:45:52 pm »
@Digital Lucifer, the question was towards individual witnesses and not regarding the BSIP. I'm asking each individual witness what they intend to do, since their feeds are determined by themselves

all active witnesses please respond, are you guys going to allow the margin call wall on BTS/CNY to be eaten or will you keep not letting it be eaten?

BSIP41 was implemented which effectively changes nothing, the feed decreased but lower MSSR causes the call price to effectively be around the same price.

Please answer:

1) Yes, I want the wall to be eaten
 
2) No, I don't want the wall to be eaten
« Last Edit: December 28, 2018, 05:47:58 pm by armin »

Offline clockwork

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Re: Question To All Active Witnesses #2
« Reply #1 on: December 28, 2018, 09:18:45 pm »
I want the wall to be eaten when it should be eaten and not eaten when it shouldn't be  (i.e. I want dynamic MCR/MSSR)

Offline armin

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Re: Question To All Active Witnesses #2
« Reply #2 on: December 28, 2018, 09:20:37 pm »
I want the wall to be eaten when it should be eaten and not eaten when it shouldn't be  (i.e. I want dynamic MCR/MSSR)

Thanks for replying. Please clarify when it shouldnt be eaten/should be eaten?

Offline clockwork

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Re: Question To All Active Witnesses #2
« Reply #3 on: December 28, 2018, 09:25:22 pm »
If bitAsset Value> Asset value (i.e. premium), effective margin call should be lowered...either by decreasing mcr or mssr

Opposite when in discount..

My suggestion is recorded here: https://bitsharestalk.org/index.php?topic=27360.msg324958#msg324958

Offline armin

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Re: Question To All Active Witnesses #2
« Reply #4 on: December 28, 2018, 09:32:23 pm »
decreasing mssr will increase margin call price, which means wall is harder to eat, which means less cny will be removed from the system. This sounds very similar to BSIP42, can you clarify the difference?

Offline clockwork

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Re: Question To All Active Witnesses #2
« Reply #5 on: December 28, 2018, 10:30:44 pm »
decreasing mssr will increase margin call price, which means wall is harder to eat, which means less cny will be removed from the system. This sounds very similar to BSIP42, can you clarify the difference?

Little difference... I believe the BSIP42 premise was and is correct. I just think it was applied unequally and overprotected debt holders which lead to it failing. The previous BSIP42 implementation did not account for big drops/heavy downtrends properly which lead to risk accumulation.

Just to be clear. This is all theory of what I WANT to happen.

As it stands I'm feeding fair and accurate (to my knowledge) market price and the MSSR and MCR values that have been voted for.

Which basically points out the flaw in your original question. Witnesses execute according to consensus. Current vote is for 105 MSSR, thats what we will feed.

What we "want" is irrelevant. if 105 MSSR leads to the margin wall not being eaten , take it up with the proxies that voted it active and leave witnesses alone.

Offline armin

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Re: Question To All Active Witnesses #2
« Reply #6 on: December 28, 2018, 10:36:17 pm »
No, witnesses' opinions are important. Take crazybit for example, he feeded ridiculous prices for a while, witnesses do have some level of control and influence over the market. If traders do not know individual witnesses' consensus regardless of proxies, we are in the dark when making decisions
« Last Edit: December 28, 2018, 10:38:15 pm by armin »

Offline clockwork

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Re: Question To All Active Witnesses #2
« Reply #7 on: December 28, 2018, 10:48:02 pm »
No, witnesses' opinions are important. Take crazybit for example, he feeded ridiculous prices for a while, witnesses do have some level of control and influence over the market. If traders do not know individual witnesses' consensus regardless of proxies, we are in the dark when making decisions

It was the proxies' job to vote him out.

There is NO such thing as individual consensus. there's either consensus or individual opinions. Witnesses are supposed to do their job according to the consensus reached by the stakeholders.

Right now , this is accurate price & 105 MSSR. If some witness is not doing this , he needs to be voted out....WHY he does it is irrelevant

Offline armin

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Re: Question To All Active Witnesses #2
« Reply #8 on: December 28, 2018, 10:57:35 pm »
Chill Alex, I just need to know the witness consensus. Thanks for your input, other witnesses please reply too

Offline binggo

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Re: Question To All Active Witnesses #2
« Reply #9 on: December 28, 2018, 11:12:37 pm »
eaten or not be eaten was decided by the
market, not decided by the wittness or mssr or mcr, you need to clear this.

so what you think is wrong.

Offline armin

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Re: Question To All Active Witnesses #2
« Reply #10 on: December 28, 2018, 11:25:19 pm »
If all witnesses feed 0.1 right now, the wall will be eaten

Offline binggo

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Re: Question To All Active Witnesses #2
« Reply #11 on: December 28, 2018, 11:30:52 pm »
this is just what you think, and you know nothing.

if all the wittness feed 0.000001,  i can buy all the bts, what you think?!

so you know nothing!

Offline pluswave

Re: Question To All Active Witnesses #2
« Reply #12 on: December 29, 2018, 04:45:25 am »
I totally agree with Alex, and this is more important: witnesses just obey the rules defined by share holders.
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Offline Digital Lucifer

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Re: Question To All Active Witnesses #2
« Reply #13 on: December 29, 2018, 07:51:24 am »
I totally agree with Alex, and this is more important: witnesses just obey the rules defined by share holders.

defined by the consensus and voted in by shareholders.
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