Author Topic: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5  (Read 1079 times)

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Offline bench

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #15 on: August 09, 2019, 11:11:22 am »
« Last Edit: August 12, 2019, 10:45:21 am by bench »

Offline bitcrab

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #16 on: August 11, 2019, 09:37:05 am »
What will happen if USD MCR is 1.5?

first, all the below margin called orders will disappear, which will reduce the sell pressure of BTS greatly.





second, as the cost to mint bitUSD is obvious lower than to mint bitCNY, more borrowers will switch from CNY market to USD market, which will activate the USD market.

there is only one question to ask -  is 1.5 safe enough for MCR?

sure, we can see

DAI already adopted a 1.5 MCR for long time.

we already implemented GS protection for bitUSD, and it works well. 
« Last Edit: August 11, 2019, 09:40:48 am by bitcrab »

Offline bench

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #17 on: August 11, 2019, 08:53:38 pm »
What will happen if USD MCR is 1.5?
More people will borrow bitUSD, which does increase liquidity. Low liquidity is the bigger problem, than reducing MCR from 1.6 to 1.5. Without liquidity every MCR is too low.
« Last Edit: August 12, 2019, 09:31:10 am by bench »

Offline bitcrab

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #18 on: August 16, 2019, 10:35:49 am »
I hope all voters can consider this proposal carefully and understand how it can help the BTS ecosystem.

BTS is under big price pressure, that's why China community vote refund400k to reduce the inflation.

the low price keep on hurting the holders' confidence, it's necessary to find ways to make BTS price more sustainable, to reduce inflation from workers is part of the efforts, although it may hurt some contributors.

We need to find more efficient ways, to reduce MCR is another way, it can increase smartcoin supply and make the ecosystem more healthy.

please support this!

Offline Thul3

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #19 on: August 17, 2019, 09:30:44 am »
Poll has been voted active

Offline Digital Lucifer

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #20 on: August 18, 2019, 06:48:15 am »
Updated my votes as well 2019-08-17 02:14:57 (GMT +7)

Support MCR for BitEUR to 1.6 and BitUSD to 1.5, with MSSR 1.02 and 1.01 along GS protection.

More liquidity and less harm to both precious and very needed smartcoins.

@bitcrab
Please, evaluate and open discussion how possibly we could restore BitBTC - hence we have working HTLC function and actually can develop a trustless native built-in gateway through HTLC with Bitcoin blockchain.

Chee®s

Milos (DL) Preocanin
Owner and manager of bitshares.org through Consensus
Move Institute - RN: 2098555000
Murska Sobota, Slovenia, SI.

Offline bitcrab

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Re: [Poll] BSIP59:Reduce MCR of bitUSD to 1.5
« Reply #21 on: August 18, 2019, 07:59:33 am »
Updated my votes as well 2019-08-17 02:14:57 (GMT +7)

Support MCR for BitEUR to 1.6 and BitUSD to 1.5, with MSSR 1.02 and 1.01 along GS protection.

More liquidity and less harm to both precious and very needed smartcoin.

@bitcrab
Please, evaluate and open discussion how possibly we could restore BitBTC - hence we have working HTLC function and actually can develop a trustless native built-in gateway through HTLC with Bitcoin blockchain.

Chee®s

it will revive when BTS/BTC price restore to a certain level...

anyway, I don't think bitBTC make big sense, we need not to pay much efforts to cultivate it.

first, it is difficult and make little sense to peg an asset with big fluctuations.

second, to peg USD&CNY because we want to make fiat be transferred freely in Internet. however, BTS can already be freely transferred, no need to create another asset to peg it.

« Last Edit: August 18, 2019, 02:49:49 pm by bitcrab »