Author Topic: Review of BAIP2  (Read 792 times)

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Offline bitcrab

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Review of BAIP2
« on: February 18, 2020, 08:04:48 am »
in the last 3 days BTS experienced the first rapid downtrend after the implementation of BAIP2, and the case provide a chance to review what BAIP2 bring to us.

below is the BTS price hourly chart in the last 20 days, the red, blue, and green line represent MA48, MA24 and MA12.



as BAIP2 request witness to feed price with max(MA48, current market price), so always when BTS price is in uptrend, the real time market price is fed, when BTS price is in down trend, the MA48 price is fed.

many people complained that their debt positions are force settled at 1st, Feb to 2nd and they have no chance to buy back at the same price, in my view, this is relevant to the fact that BTS price went up to cross 0.22CNY.

now let's check more exactly on the time that BTS price is in rapid downtrend, as BAIP2 mainly change the feed price result at these moments.



in below the thick red line represent the feed price change at last 2 days. at 15th, 23:00 Beijing time the MA48 went above price line and met the price line again at 18th 00:00.

positive effect:
it make the feed price went down very slowly and smoothly, it give debt position owners big time and price buffer to take care their debt position, it avoid the feed price to arrive the lowest market price in this interval. all this make shorting attack almost impossible.

negative effect:
in the interval that MA48 is above the BTS price, there is always a big gap between MA48 and price line. at 17th 00:00 we can see MA48 = 0.0367, the lowest price = 0.0301, the former is 1.219 times the latter.

this brought a big devaluation to the smartcoin which have implemented BAIP2, in the interval we saw the highest GDEX.UST/bitCNY trading price has been reached 8.15 which means a close to 15% devaluation to bitCNY.

we have to continuously optimize the rule and do necessary balance to get the positive effect and avoid the negative effect.

in below chart, the thick blue line stands for the feed price if we adopt MA24 instead of MA48. the thick green line stands for the feed price if we adopt MA12 instead of MA48.

in the discussion in China community, most users agree that MA24 will be a better choice than MA48 in this scenario. for MA12, it is doubtful that it can provide enough buffer to resist shorting attack.

« Last Edit: February 18, 2020, 09:28:12 am by bitcrab »
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Offline btstodamoon

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Re: Review of BAIP2
« Reply #1 on: February 18, 2020, 09:36:52 am »
妈卖批,又要改了吗?

Offline bitcrab

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Re: Review of BAIP2
« Reply #2 on: February 18, 2020, 11:50:54 am »
BAIP3 is drafted, please comment: https://github.com/bitshares/baips/issues/18
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Offline binggo

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Re: Review of BAIP2
« Reply #3 on: February 18, 2020, 11:57:49 am »
Why not use EMA6 or EMA3? they can track the price more quickly and can avoid the price bottom.





« Last Edit: February 18, 2020, 12:01:25 pm by binggo »

Offline litepresence

Re: Review of BAIP2
« Reply #4 on: February 19, 2020, 06:46:52 pm »
Collateralization of investment should be responsibility of the individual borrower not the asset issuer or the exchange itself.

If you don't want to be margin called, maintain a buffer between your personal CR and the MCR required.  Simple as that. 

STOP MANIPULATING THE GAME TO PROTECT YOUR MALINVESTMENT FROM DEFAULT


Offline R

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Re: Review of BAIP2
« Reply #5 on: March 28, 2020, 01:25:32 pm »
BAIP2 completely failed; BSIP76 has once again had to bail out bad debtors by mandatory theft of asset value from bitasset holders. Bitassets are effectively scam coins with this arrangement.

Offline litepresence

Re: Review of BAIP2
« Reply #6 on: March 29, 2020, 02:06:15 pm »
in the last 3 days BTS experienced the first rapid downtrend after the implementation of BAIP2, and the case provide a chance to review what BAIP2 bring to us.

The purpose of BORROWING a smartcoin from the chain is to SELL IT SHORT.

If you choose to horde it instead,  then you DESERVE to get margin called.

Quit hording debt and this is no longer an issue.


You PERSONALLY and all of your bullshit BSIPS and BAIPS related to making margin call impossible are what have ruined the architecture of the smartcoin ecosystem.





Offline bitcrab

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Re: Review of BAIP2
« Reply #7 on: March 29, 2020, 03:39:01 pm »
You PERSONALLY and all of your bullshit BSIPS and BAIPS related to making margin call impossible are what have ruined the architecture of the smartcoin ecosystem.

if you are too stupid to understand what is shorting attack/ death spiral, I don't know how to explain to you.
Email:bitcrab@qq.com

Offline litepresence

Re: Review of BAIP2
« Reply #8 on: March 29, 2020, 08:19:46 pm »
if you are too stupid to understand what is shorting attack/ death spiral, I don't know how to explain to you.

What made bitshares have ANY value from the beginning was the notion of decentralized oracle market pegged assets that could be traded on a decentralized exchange platform.  THAT was the niche value proposition.   Your bullshit has poisoned the decentralized oracle well and killed market pegged assets and HENCE bitshares has no value because it is no longer a place where you can trust the value of the witness supported decentralized smart coins.   

No trustworthy decentralized oracle = 
Witnesses are not trustworthy =
No unique niche value proposition =
Bitshares is a shitcoin in a sea of other shitcoins =

DEATH SPIRAL


and there is not a bsip or baip in the world related to protecting your long lost debt position from fictitious "shorting attacks" that will EVER save it.  Not a price feed moving average, not a settlement fee, not a pegging the price to the core token, not MSSR = 1, not MCR = 1; all you do is devalue the core token further.

You are a loser.  Your debt is worthless.   You've killed a blockchain that talented developers have spent close to a decade building. 

You and everything you stand for is a disgrace, fraud, and scam. 
Anyone with a half bit of sense knows it.

Expect from this day forward anything you post in the English speaking world will be responded to with this quote:

Quote
CHINA http://www.csrc.gov.cn/pub/csrc_en/about/contact/
USA https://www.sec.gov/tcr
EU https://www.esma.europa.eu/whistleblowers-corner

If you report bitcrab to SEC
you may be eligible for up to 10%
of any money recovered as a reward!

Eventually, someone will grow fed up with you enough to deal with .gov and you can finally enjoy your concrete box, orange jumpsuit, and daily serving of pickle ends and reconstituted potatoes... that you so clearly crave. 

Until then... please do everyone a favor and go lick a used N95.


Offline binggo

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Re: Review of BAIP2
« Reply #9 on: March 29, 2020, 11:35:42 pm »
Quote
Not a price feed moving average,  not MSSR = 1, not MCR = 1;

I think you are one extreme,bitcrab is another extreme. :(
« Last Edit: March 29, 2020, 11:37:30 pm by binggo »

Offline R

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Re: Review of BAIP2
« Reply #10 on: March 30, 2020, 12:07:15 am »
You PERSONALLY and all of your bullshit BSIPS and BAIPS related to making margin call impossible are what have ruined the architecture of the smartcoin ecosystem.

if you are too stupid to understand what is shorting attack/ death spiral, I don't know how to explain to you.
Your actions have been the true death spiral for bitshares & the bitassets. Shame on you.

Offline sahkan

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Re: Review of BAIP2
« Reply #11 on: March 31, 2020, 02:56:09 am »
if you are too stupid to understand what is shorting attack/ death spiral, I don't know how to explain to you.

What made bitshares have ANY value from the beginning was the notion of decentralized oracle market pegged assets that could be traded on a decentralized exchange platform.  THAT was the niche value proposition.   Your bullshit has poisoned the decentralized oracle well and killed market pegged assets and HENCE bitshares has no value because it is no longer a place where you can trust the value of the witness supported decentralized smart coins.   

No trustworthy decentralized oracle = 
Witnesses are not trustworthy =
No unique niche value proposition =
Bitshares is a shitcoin in a sea of other shitcoins =

DEATH SPIRAL


and there is not a bsip or baip in the world related to protecting your long lost debt position from fictitious "shorting attacks" that will EVER save it.  Not a price feed moving average, not a settlement fee, not a pegging the price to the core token, not MSSR = 1, not MCR = 1; all you do is devalue the core token further.

You are a loser.  Your debt is worthless.   You've killed a blockchain that talented developers have spent close to a decade building. 

You and everything you stand for is a disgrace, fraud, and scam. 
Anyone with a half bit of sense knows it.

Expect from this day forward anything you post in the English speaking world will be responded to with this quote:

Quote
CHINA http://www.csrc.gov.cn/pub/csrc_en/about/contact/
USA https://www.sec.gov/tcr
EU https://www.esma.europa.eu/whistleblowers-corner

If you report bitcrab to SEC
you may be eligible for up to 10%
of any money recovered as a reward!

Eventually, someone will grow fed up with you enough to deal with .gov and you can finally enjoy your concrete box, orange jumpsuit, and daily serving of pickle ends and reconstituted potatoes... that you so clearly crave. 

Until then... please do everyone a favor and go lick a used N95.
Amen to that!