Author Topic: [poll] BTS repurchase destruction proposal  (Read 7826 times)

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Offline BTSMoon

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Re: [poll] BTS repurchase destruction proposal
« Reply #30 on: June 30, 2019, 06:30:36 am »
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Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #31 on: October 07, 2019, 09:15:14 pm »
6, repurchase BTS and destroy it immediately.
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.
« Last Edit: October 08, 2019, 01:05:45 pm by bench »
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Online binggo

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Re: [poll] BTS repurchase destruction proposal
« Reply #32 on: November 12, 2019, 04:31:52 am »
I suggest to buy BTC instead of bts, at least use 1/3 Marketing fee to buy BTC, as when BTC fall, BTS will follow, and BTC can regard as some value added, we can use it at right price to fund what the community think suitable.

The main problem is the trust of gateway.btc, or maybe can set a multi-signature BTC wallet by the committees.
« Last Edit: November 12, 2019, 04:42:01 am by binggo »

Offline fractalnode

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Re: [poll] BTS repurchase destruction proposal
« Reply #33 on: December 04, 2019, 10:54:06 am »
6, repurchase BTS and destroy it immediately.
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.

the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there - if possible.
The more bitAssets on the markets outside DEX, the better.

in other words, IMO funds should not be burned (transferred to the reserve pool) in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
« Last Edit: December 05, 2019, 10:24:21 pm by fractalnode »

Offline abit

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Re: [poll] BTS repurchase destruction proposal
« Reply #34 on: December 05, 2019, 08:50:59 pm »
6, repurchase BTS and destroy it immediately.
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.

the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there.
The more bitAssets on the markets outside DEX, the better.

in other words, funds should not be burned or transferred to the reserve pool in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
On the other hand, the more bitCNY being on CEX or elsewhere, the less liquidity in the DEX for debt holders to close positions, so it's not a thing with only benefits (aka "the better").
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Offline fractalnode

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Re: [poll] BTS repurchase destruction proposal
« Reply #35 on: December 05, 2019, 10:37:32 pm »
6, repurchase BTS and destroy it immediately.
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.

the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there.
The more bitAssets on the markets outside DEX, the better.

in other words, funds should not be burned or transferred to the reserve pool in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
On the other hand, the more bitCNY being on CEX or elsewhere, the less liquidity in the DEX for debt holders to close positions, so it's not a thing with only benefits (aka "the better").

it's also true. I have another idea ...

- maybe the funds accumulated from transaction fees could be used in a similar way to this formula.

Instant Settle from funds collected from trading fees
Code: [Select]
if ((lowest CR <= MCR) AND (fee pool >= 10 USD))                                             // → a small amount has mainly psychological effects
         calculate the amount betwean ( lowest CR <= MCR && MCR ) and
         execute Instant Settle for this amount and send those BTS to reserve pool

in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund
« Last Edit: December 06, 2019, 08:06:09 pm by fractalnode »

Offline pc

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Re: [poll] BTS repurchase destruction proposal
« Reply #36 on: December 06, 2019, 06:12:38 am »
         execute Instant Settle for this amount and send those BTS to reserve pool

in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund

Settling at the fake feed price rewards bad debt. Speaking of it, when will you start feeding the true price again?
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Offline fractalnode

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Re: [poll] BTS repurchase destruction proposal
« Reply #37 on: December 06, 2019, 08:32:36 pm »
         execute Instant Settle for this amount and send those BTS to reserve pool

in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund

Settling at the fake feed price rewards bad debt. Speaking of it, when will you start feeding the true price again?


I think it would be good to use this approach when the price returns to normal.

There are several new solutions that will help us fight the negative effects of margin call wall, including:

- bsip73 - Match force-settlement orders best-price
- bsip62 - Close Margin Position

Instant Settle from funds collected from trading fees would also help.

Today another idea came to my mind, but I don't know if it is possible

Allow users to set non-default MCR and MSSR for their positon as long as they are greater then default values.

it's worth to keep in mind that People use MCR like Stop Loss

that's why I would happily set values other than most people, e.g. MCR 1.69 nobody would know who and when is in the margin call area, or MSSR 1.03 so that a possible margin call would definitely close at market price at first time before most other orders start being fulfilled.