Author Topic: BSIP reorganization?  (Read 1999 times)

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Offline bitcrab

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BSIP reorganization?
« on: December 06, 2019, 04:53:39 am »
Currently BTS suffer big problems in several sides.

bitCNY and bitUSD devalued greatly, bring big loss to holders and hurt reputation a lot.
Most of the workers are voted down, core team do not have a clear future, some members are considering to leave.
China community and Western community conflict in some key problems.

Bitshares is in a dilemma, Bithares need to find a way to reborn.

Bitshaes has flaws from initial design, simply speaking:
1.smartcoins operation request BTS be robust in price, otherwise shorting attack will have chance to make smartcoin crash, as well as BTS.
2.worker proposal also request BTS be robust in price, otherwise the inflation also have chance to make BTS crash in bear market.

China community press "STOP" in a simple and crude way, it really "stop" the problems but what we need is to solve the problems.

In my view, we need some shift on paradigm, at this moment we need to focus on how to make BTS generate enough income to sustain BTS price.

Based on this idea, I have a simple review on the candidate BSIPs and classify them into 3 categories:

Class A: BSIPs that will help to generate system income directly, and are in controlled development cost and risk.

BSIP74:Margin Call Fee Ratio
BSIP86: Share market fees to the network
BSIP81: Simple Maker-Taker Market Fees
BSIP85:Maker Order Creation Fee Discount

Class B: BSIP - irrelevant to generating income directly, however is important and in low development cost and risk

BSIP62:  Close Short Position     
BSIP71:  Add "Prevent Global Settlement" Flag for Smartcoin
BSIP73:  Match Force-Settlement Orders with Margin Calls and Limit Orders
BSIP61:  Operation to Update Limit Orders
BSIP39:   Automatically approve proposals by the proposer
BSIP64:   Optional HTLC preimage length, HASH160 addition, and memo field

Class C: BSIP - too complicated, uncontrollable development cost and risk, or the feature is not important and in early stage.

BSIP70:  Peer-to-Peer Leveraged Trading
BSIP69:  Additional Assert Predicates
BSIP57:Managed Vesting Balances
BSIP22:  Vote Decay for Witnesses, Committee Members & Proxies
BSIP47: Vote Proxies for Different Referendum Categories and explicit voting operation
BSIP45: Add bitAsset Backing Collateral flag/permission

In my view, we can put BSIPs in Class A and also some in Class B into a package and request core team to work on it, maybe a independent worker is necessary for that.

Committee, core team, witnesses, cn-vote, BEOS and also other big proxies, please review this post and share your ideas, sufficient discussion and strong consensus and needed for optimize and apply this plan.

Offline abit

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Re: BSIP reorganization?
« Reply #1 on: December 06, 2019, 02:59:19 pm »
 I didn't check thoroughly, but there are more BSIPs than your listed, E.G. BSIP 72, 75 and 77.
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Offline R

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Re: BSIP reorganization?
« Reply #2 on: December 07, 2019, 05:10:18 pm »
Quote
Bitshaes has flaws from initial design, simply speaking:
1.smartcoins operation request BTS be robust in price, otherwise shorting attack will have chance to make smartcoin crash, as well as BTS.

China community press "STOP" in a simple and crude way, it really "stop" the problems but what we need is to solve the problems.
It didn't stop the problem, it shifted the problem from the debt holder onto the bitasset holder, the problem is ongoing as bitassets continue to devalue.

A new BSIP76 vote to feed today's market feed price for USD (1/0.020346=49.149) would be great 👍

« Last Edit: December 07, 2019, 05:11:58 pm by R »

Offline bench

Re: BSIP reorganization?
« Reply #3 on: December 09, 2019, 03:20:18 am »
@bitcrab:
Good overview, I agree on the classification. BSIP70 is tricky, but should also generate some market flow.
Maybe we should implement other lending options first?

I want to add some BSIPs:

Class A:
- BSIP72: Tanks and Taps -> free integration
- BSIP77: Require Higher CR When Creating/Adjusting Debt Positions -> less bad debt and less margin calls
- BSIP78: Asset Feature - MLP (Market Liquidity Pool) -> shares market fees to network

Class B:
- BSIP75: Asset Owner Defines MCR and MSSR Values
« Last Edit: December 11, 2019, 04:30:11 pm by bench »
Be part of the change and vote for the bitshares-vision proxy!

Offline binggo

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Re: BSIP reorganization?
« Reply #4 on: December 11, 2019, 01:06:04 am »
When?

Offline R

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Re: BSIP reorganization?
« Reply #5 on: December 21, 2019, 01:06:33 am »
Since the current core dev team is not renewing their WP in 2020, who will implement these BSIPs?

Offline abit

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Re: BSIP reorganization?
« Reply #6 on: December 21, 2019, 02:05:49 am »
Since the current core dev team is not renewing their WP in 2020, who will implement these BSIPs?
Isn't there a thread discussing a new core team in the proposals board?
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Offline bitcrab

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Re: BSIP reorganization?
« Reply #7 on: December 27, 2019, 09:26:04 am »
now in BSIP voting BSIP62,73,74 are already above BSIP threshold worker.

It is expected that BSIP86 will be completed documenting and be put into voting in recent future.

If BSIP86 also be voted up, these 4 BSIPs worth a hard fork, then we can focus on organizing development work.

If anyone want to put more BSIPs inside, please try to lobby big proxies to vote in time.

Offline abit

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Re: BSIP reorganization?
« Reply #8 on: December 27, 2019, 12:16:51 pm »
IMO we need 77, 81 and 85. Please help push them.
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Offline bench

Re: BSIP reorganization?
« Reply #9 on: December 27, 2019, 12:32:38 pm »
IMO we need 77, 81 and 85. Please help push them.

yes, but the biggest BTS account holder bit2020bts doesn't even vote.
Be part of the change and vote for the bitshares-vision proxy!

Offline binggo

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Re: BSIP reorganization?
« Reply #10 on: December 27, 2019, 12:52:45 pm »
IMO we need 77, 81 and 85. Please help push them.

yes, but the biggest BTS account holder bit2020bts doesn't even vote.
ZB

Offline Thul3

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Re: BSIP reorganization?
« Reply #11 on: December 27, 2019, 10:02:51 pm »
What we need are BSIP's which will bring major assets to DEX willing to exchange against BTS or bitfiat mid-longterm .

Something like p2p lending or any other DeFi
or non ltm refferal program to bring new users with their funds.

The other BSIP's are cosmetic and improvments but no engine to bring major assets to Dex for BTS and bitfiat.

Offline binggo

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Re: BSIP reorganization?
« Reply #12 on: December 27, 2019, 11:51:56 pm »
What we need are BSIP's which will bring major assets to DEX willing to exchange against BTS or bitfiat mid-longterm .

Something like p2p lending or any other DeFi
or non ltm refferal program to bring new users with their funds.

The other BSIP's are cosmetic and improvments but no engine to bring major assets to Dex for BTS and bitfiat.

These BSIP‘s were also important functions of p2p lending and DeFi,  but these BSIP‘s are in controlled development cost and risk and need less time, so they can be finisded first.

Other BSIP's like BSIP70 still need to be voted up, and they need more time to develop and test, they can be developed or hard fork after these improvments BSIP‘s.

BTS had withstood attacks which come from internal and external in this year, but we will find our way,  buddy will stand together.
« Last Edit: December 28, 2019, 12:36:19 am by binggo »