Author Topic: [Poll] BSIP76:Set bitUSD feed threshold  (Read 1518 times)

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Offline bitcrab

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[Poll] BSIP76:Set bitUSD feed threshold
« on: September 26, 2019, 05:39:35 pm »
Based on BSIP76, https://github.com/bitshares/bsips/blob/master/bsip-0076.md, now 2 poll worker proposals have been created:

1.14.220   Poll - BSIP76 - Set bitUSD feed threshold to 0.0345USD/BTS
1.14.223   Poll - BSIP76 - Set bitUSD feed threshold to 0.031USD/BTS
1.14.221   Poll - BSIP76 - Do Not Set bitUSD feed threshold

This action is a little urgent and is triggered by what happened at ZB.com at 24th night, China community recognized that BTS have to develop some method to resist the shorting attack from CEX immediately, otherwise all the stakeholders can only play tragic role.

Please vote according to your opinion.
« Last Edit: September 26, 2019, 06:19:33 pm by bitcrab »

Offline R

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #1 on: September 28, 2019, 05:43:20 pm »
Why was any outcome of BSIP76 for bitUSD acted upon prior to activation of the WP? Currently none of the BSIP76 WP for bitUSD have activated, thus don't have network consensus on the matter.

https://btsapi.grcnode.co.uk/get_bts_object?object_id=1.13.26119&api_key=123abc
https://btsapi.grcnode.co.uk/get_bts_object?object_id=1.13.26122&api_key=123abc
https://btsapi.grcnode.co.uk/get_bts_object?object_id=1.13.26120&api_key=123abc

Offline R

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #2 on: September 29, 2019, 12:57:57 pm »
https://btsapi.grcnode.co.uk/get_bts_object?object_id=1.13.26119&api_key=123abc this has now activated, only after the change was imposed on price feed publishers. Activation and network consensus seems to be an afterthought, no? Why was the BSIP WP process disregarded?

Offline R

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #3 on: October 08, 2019, 04:12:22 pm »
Current BTS price in USD: 0.02858617 (Coingecko), 0.028728 (CMC).
Current USD price feed: 28.98551 BTS/USD
Current value of 1 bitUSD:
0.02858617 * 28.98551 =‭ 0.82858
0.028728 * 28.98551 = ‭0.83269

Avg % below $1: ‭16.9365‬%

Offline Sapiens

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #4 on: October 13, 2019, 11:17:31 pm »
1 BitUsd now is around 20% below the peg.

So, BitCrab and CN-vote gang, will you let it go 50% off the peg to save your greedy and careless asses?

What a shameless and outright theft you are doing!

Online Thul3

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #5 on: October 14, 2019, 12:40:15 am »
1 BitUsd now is around 20% below the peg.

So, BitCrab and CN-vote gang, will you let it go 50% off the peg to save your greedy and careless asses?

What a shameless and outright theft you are doing!

From where do you got 20% i see  9% ?
« Last Edit: October 14, 2019, 12:41:55 am by Thul3 »

Offline Sapiens

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #6 on: October 14, 2019, 01:15:55 am »
At this very moment on CMC:

1 Bts = 0.027473 USD = A

According to the DEX's fake and corrupt and greedy price-feed:

1 Bts = 1/price-feed = 1/28.98551 = 0.0345 = B

So, the percent difference is:

100 x (B-A)/A = 25.6 %  !!!!

Now, tell me where did you get your 9%

Offline bitcrab

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #7 on: October 14, 2019, 03:44:19 am »
then why don't you buy USDT with bitUSD, now you can buy 1 USDT with 1.102bitUSD.

Online Thul3

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #8 on: October 14, 2019, 05:52:51 am »
At this very moment on CMC:

1 Bts = 0.027473 USD = A

According to the DEX's fake and corrupt and greedy price-feed:

1 Bts = 1/price-feed = 1/28.98551 = 0.0345 = B

So, the percent difference is:

100 x (B-A)/A = 25.6 %  !!!!

Now, tell me where did you get your 9%

The feed is irrelevant.
What is relevant is the real price on DEX for which you get BTS for your bitUSD.

Offline Sapiens

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #9 on: October 14, 2019, 10:31:32 am »

The feed is irrelevant.
What is relevant is the real price on DEX for which you get BTS for your bitUSD.

Big lie! If I want to force settle, which is supposed to be my right as a BitAsset holder,  I will be offered the price-feed value, not the market value. Thence, price-feed is totally relevant.

Offline abit

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #10 on: October 14, 2019, 08:06:38 pm »

The feed is irrelevant.
What is relevant is the real price on DEX for which you get BTS for your bitUSD.

Big lie! If I want to force settle, which is supposed to be my right as a BitAsset holder,  I will be offered the price-feed value, not the market value. Thence, price-feed is totally relevant.

Hilarious. You also have your right to sell 1 bitUSD for 1 shitcoin. So 1 bitUSD effectively worth zero?

Anyway, it's expected that bitUSD will devalue when BTS price falls below the threshold. It's written in the BSIP. Crying that an expected thing really happened brings no value. This thread is only for voting.
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Offline Sapiens

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #11 on: October 15, 2019, 02:47:21 am »


Well, The only one left crying will be you and your perverted logic once FBI, Interpol or your harsh communist authorities find out what you and your gang have been coercing other witnesses to do.

I don't see how this is not financial  criminal activity. Recently G7 pronounced against stable coins. They called them a threat to global financial system. What will authorities do once they find out that an asset, long time marketed as stable, had its price feed faked by voting power created out of thin air and extortion to key role players in a decentralized community?

https://www.coinstaker.com/the-g7-global-stablecoins/

Enjoy the news you idiot.

Online binggo

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #12 on: October 15, 2019, 03:02:54 am »
You can do what you want to do and say what you want to say.

What's the fuck of FBI and G7,? don't act just like a bady, these can't threat anybody,just like some joke.

If you don't like something, you can just turn away, don't shit somebody.

Well, The only one left crying will be you and your perverted logic once FBI, Interpol or your harsh communist authorities find out what you and your gang have been coercing other witnesses to do.

I don't see how this is not financial  criminal activity. Recently G7 pronounced against stable coins. They called them a threat to global financial system. What will authorities do once they find out that an asset, long time marketed as stable, had its price feed faked by voting power created out of thin air and extortion to key role players in a decentralized community?

https://www.coinstaker.com/the-g7-global-stablecoins/

Enjoy the news you idiot.
« Last Edit: October 15, 2019, 03:17:50 am by binggo »

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #13 on: October 15, 2019, 08:27:22 am »
@Sapiens has been banned for 3 days for his use of language.

I would like to remind everyone that people in the forum are still humans. Verbal attacks will not be tolerated.
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Offline Imm_Ortal

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #14 on: October 15, 2019, 10:23:27 am »
Sapiens has a point. Bsip76 is effectively taking a Globally Traded and long term marketed as stable asset and creating an artificial difference in its price, and that is being done in order to benefit a specific group of people.

Out of the top of my head I can think of at least 5 different reasons why this can make for a legal investigation. I mean, think what would happen if Tether all of a sudden decided to devalue its coin by 10 or 20%!!!

Also, the regular protocol was violated when changing the price-feed and several claims of witnesses being forced to adjust the price-feed or to vote the Bsip have been ignored.

One thing that must be understood is that whatever change is done in the Bitshares protocol will have a small yet global effect already. Whoever proposes or implements something here, is dealing not only with his money, but also with someone else's. This is no children's game. 

Finally, whoever doesn't want to be treated as a criminal, shouldn't act as one.

Offline pc

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #15 on: October 15, 2019, 11:34:42 am »
Sapiens has a point. Bsip76 is effectively taking a Globally Traded and long term marketed as stable asset and creating an artificial difference in its price, and that is being done in order to benefit a specific group of people.

Out of the top of my head I can think of at least 5 different reasons why this can make for a legal investigation.

I agree, absolutely.
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Online binggo

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #16 on: October 15, 2019, 12:29:27 pm »

Sapiens has a point. Bsip76 is effectively taking a Globally Traded and long term marketed as stable asset and creating an artificial difference in its price, and that is being done in order to benefit a specific group of people.

Out of the top of my head I can think of at least 5 different reasons why this can make for a legal investigation. I mean, think what would happen if Tether all of a sudden decided to devalue its coin by 10 or 20%!!!

Also, the regular protocol was violated when changing the price-feed and several claims of witnesses being forced to adjust the price-feed or to vote the Bsip have been ignored.

One thing that must be understood is that whatever change is done in the Bitshares protocol will have a small yet global effect already. Whoever proposes or implements something here, is dealing not only with his money, but also with someone else's. This is no children's game.

Finally, whoever doesn't want to be treated as a criminal, shouldn't act as one.

As i said before, if you don't like or understand something, just turn away, don't threat somebody with ridiculous legal reasons, just like a joke.

Some of you didn't find the real problem till now, just want to argue for something and didn't want doing somthing to help.

Don't think you are the only guy who is very clever.

Offline bitcrab

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #17 on: October 15, 2019, 01:21:57 pm »
Sapiens has a point. Bsip76 is effectively taking a Globally Traded and long term marketed as stable asset and creating an artificial difference in its price, and that is being done in order to benefit a specific group of people.

Out of the top of my head I can think of at least 5 different reasons why this can make for a legal investigation. I mean, think what would happen if Tether all of a sudden decided to devalue its coin by 10 or 20%!!!

Also, the regular protocol was violated when changing the price-feed and several claims of witnesses being forced to adjust the price-feed or to vote the Bsip have been ignored.

One thing that must be understood is that whatever change is done in the Bitshares protocol will have a small yet global effect already. Whoever proposes or implements something here, is dealing not only with his money, but also with someone else's. This is no children's game. 

Finally, whoever doesn't want to be treated as a criminal, shouldn't act as one.

at that moment we have two choices:

1.leave things as they were, then highly possible BTS price will falll below 0.1 CNY, or even lower, bitCNY will peg well but BTS holders will suffer greatly.

2.implenent BSIP76, yes smartcoin peg off, bitCNY now has a discount of about 8%, but BTS price stop falling.

the community has learned for long time that the margin call mechanism is too friendly to shorting attack, if we just leave things as they were, BTS price will fall to 0 and what we talk will make no sense.

BSIP76 give up pegging in some conditions, which will help BTS to resist shorting attack, and reserve hope for stakeholders.

the initial design of smartcoin has problems, we need to update it, BSIP58 is this kind of change, BSIP76 too.

« Last Edit: October 15, 2019, 01:23:43 pm by bitcrab »

Offline sahkan

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #18 on: October 15, 2019, 01:53:47 pm »
In reality, everyone that voted for price fixing conducted a 0 cost attack against all bitCNY and BitUSD holders. Essentially nothing that much different that ZB did.

Offline R

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #19 on: October 15, 2019, 04:01:55 pm »
Sapiens has a point. Bsip76 is effectively taking a Globally Traded and long term marketed as stable asset and creating an artificial difference in its price, and that is being done in order to benefit a specific group of people.

Out of the top of my head I can think of at least 5 different reasons why this can make for a legal investigation.
Fully agree: https://bitsharestalk.org/index.php?topic=29659.msg336083#msg336083

The referenced Wikipedia article is quite sparse, could aid Bitshares' Wikipedia presence since BTS doesn't have a page anymore 😂
« Last Edit: October 15, 2019, 04:04:23 pm by R »

Offline Sapiens

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #20 on: October 19, 2019, 01:28:11 am »
After forced vacation from this forum, I am finally back!

Online binggo

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Re: [Poll] BSIP76:Set bitUSD feed threshold
« Reply #21 on: October 19, 2019, 01:38:25 am »
After forced vacation from this forum, I am finally back!
Welcome back!