Author Topic: [Poll] BAIP2: Reform on bitEUR feed price mechanism  (Read 2920 times)

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Offline bitcrab

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[Poll] BAIP2: Reform on bitEUR feed price mechanism
« on: April 17, 2020, 04:02:00 am »
bitEUR now suffer great suppression in supply and liquidity by force settlement.

To apply BAIP2(https://github.com/bitshares/baips/blob/master/baip-0002.md) on bitEUR will lessen the suppression in supply and liquidity and will activate the ecology of bitEUR.

Two poll workers have been created:

1.14.257   Poll-BAIP2-Reform on bitEUR feed price mechanism

1.14.258   Poll-BAIP2-Do Not Reform on bitEUR feed price mechanism

BAIP2 is approved to apply on bitEUR if worker 1.14.257 get higher voting power than 1.14.258 and also 1.14.236 BAIP-Threshold.

Please vote according to your opinion.

« Last Edit: April 17, 2020, 04:17:50 am by bitcrab »

Offline Digital Lucifer

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #1 on: April 17, 2020, 06:22:12 am »
Is there any chance to push this for BitUSD as well ? There is some focus from different large world entities on stablecoins (due to covid-19 epidemic) and some members around here even know which entities I'm talking about. Their focus is in on-chain collateral stablecoins because they are only truly decentralized and restoring to BitUSD real value through BAIP2 would be very important.

Please consider question/suggestion slowly and reach me if you need any more specific info.

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Murska Sobota, Slovenia, SI.

Offline bitcrab

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #2 on: April 17, 2020, 06:32:12 am »
Is there any chance to push this for BitUSD as well ? There is some focus from different large world entities on stablecoins (due to covid-19 epidemic) and some members around here even know which entities I'm talking about. Their focus is in on-chain collateral stablecoins because they are only truly decentralized and restoring to BitUSD real value through BAIP2 would be very important.

Please consider question/suggestion slowly and reach me if you need any more specific info.

Chee®s

actually BAIP2 and also BSIP76 are already applied on bitUSD and bitCNY.

Offline Thul3

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #3 on: April 17, 2020, 09:47:33 am »
How is BAIP2 going to reduce force settlement on biteur ?

Would love to understand your thinking.


Voted against.



Quote
bitEUR now suffer great suppression in supply and liquidity by force settlement.

You wanna know why biteur is suffering in liquidity ?
Because thanks to your actions foreigners are not willing anymore to hold bitassets.Everyone selling bitassets quickly against BTS just to get rid of biteur.You can't buy any significant amount of BTS with your biteur as that asset is being seen in foreigners groups as under control of a small chinese group.
Should BAIP2 be implemented you got already the announcement that it will be taken away from the last working foreign gateways which will for sure fix your problem /irony off


Ask any foreigner if he is willing to buy any bitassets which is owned by committee with current situation in committee.
« Last Edit: April 17, 2020, 09:58:24 am by Thul3 »

Offline fractalnode

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #4 on: April 17, 2020, 10:00:44 am »
BAIP2 can be helpful during short price drops.
But to fight the abuse of Force Settlement, a good tool is to Delay its execution.
That's why I am asking you to start this tool and increase Settlement Delay from 24h to 42h

more in this thread:
https://bitsharestalk.org/index.php?topic=32256.msg341755#msg341755
« Last Edit: April 17, 2020, 10:17:24 am by fractalnode »

Offline Thul3

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #5 on: April 17, 2020, 10:07:23 am »
BAIP2 can be helpful during short price drops.
But to fight the abuse of Force Settlement, a good tool is to Delay its execution.
That's why I am asking you to start this tool and increase Settlement Delay from 24h to 42h

delay won't work because there are no bts on the market.Noone willing to sell BTS against biteur.
So the only possibility to accuire more BTS via debt is force settlement.
Delay won't change anything on a non liquid market


Short price drops are also not a problem in biteur.
CR's there are over 4.5
« Last Edit: April 17, 2020, 10:18:09 am by Thul3 »

Offline fractalnode

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #6 on: April 17, 2020, 10:30:56 am »
BAIP2 can be helpful during short price drops.
But to fight the abuse of Force Settlement, a good tool is to Delay its execution.
That's why I am asking you to start this tool and increase Settlement Delay from 24h to 42h

delay won't work because there are no bts on the market.Noone willing to sell BTS against biteur.
So the only possibility to accuire more BTS via debt is force settlement.
Delay won't change anything on a non liquid market


Short price drops are also not a problem in biteur.
CR's there are over 4.5


I'm not saying that this is the only possible way.
I claim that this is an important ingredient in the fight against abuse of this functionality. We still have settlement offset available, but this should be as small as possible.
That is why I think that if we increase the Delay to 42h and additionally raise the Settlement Offset, e.g. to 2% 3% (max), it can bring favorable results.

Delay introduces an additional risk element to consider if you want to use this feature. Within 2 days a lot can happen with the price, which is why more people may want to buy BTS from the market at the current market price or slightly higher → and here arbirage occurs, which is why the price increases on CEX


in less than a month we have halving, and with the increasing price of BTC
BAIP2 is irrelevant for situations where Force Settlement is abused

besides, we have 4 popular MPA tokens
let the different settings show us what works best
« Last Edit: April 17, 2020, 11:49:57 am by fractalnode »

Offline Thul3

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #7 on: April 17, 2020, 11:49:30 am »
BAIP2 can be helpful during short price drops.
But to fight the abuse of Force Settlement, a good tool is to Delay its execution.
That's why I am asking you to start this tool and increase Settlement Delay from 24h to 42h

delay won't work because there are no bts on the market.Noone willing to sell BTS against biteur.
So the only possibility to accuire more BTS via debt is force settlement.
Delay won't change anything on a non liquid market


Short price drops are also not a problem in biteur.
CR's there are over 4.5


I'm not saying that this is the only possible way.
I claim that this is an important ingredient in the fight against abuse of this functionality. We still have settlement offset available, but this should be as small as possible.
That is why I think that if we increase the Delay to 42h and additionally raise the Settlement Offset, e.g. to 2% 3% (max), it can bring favorable results.

Delay introduces an additional risk element to consider if you want to use this feature. Within 2 days a lot can happen with the price, which is why more people may want to buy BTS from the market at the current market price or slightly higher → and here arbirage occurs, which is why the price increases on CEX


in less than a month we have halving, and with the increasing price of BTC
BAIP2 is irrelevant for situations where Force Settlement is abused

besides, we have 4 popular MPA tokens
let the different settings show us what works best


Delay is increasing risk that's correct but in biteur there is no other option to gain BTS other than force settlement.You can't buy BTS from market as there are no sellers.Increasing offset will only make that price on market will increase to new settlement price or above making biteur more unpegg.


Offline fractalnode

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #8 on: April 17, 2020, 11:59:54 am »
BAIP2 can be helpful during short price drops.
But to fight the abuse of Force Settlement, a good tool is to Delay its execution.
That's why I am asking you to start this tool and increase Settlement Delay from 24h to 42h

delay won't work because there are no bts on the market.Noone willing to sell BTS against biteur.
So the only possibility to accuire more BTS via debt is force settlement.
Delay won't change anything on a non liquid market


Short price drops are also not a problem in biteur.
CR's there are over 4.5


I'm not saying that this is the only possible way.
I claim that this is an important ingredient in the fight against abuse of this functionality. We still have settlement offset available, but this should be as small as possible.
That is why I think that if we increase the Delay to 42h and additionally raise the Settlement Offset, e.g. to 2% 3% (max), it can bring favorable results.

Delay introduces an additional risk element to consider if you want to use this feature. Within 2 days a lot can happen with the price, which is why more people may want to buy BTS from the market at the current market price or slightly higher → and here arbirage occurs, which is why the price increases on CEX


in less than a month we have halving, and with the increasing price of BTC
BAIP2 is irrelevant for situations where Force Settlement is abused

besides, we have 4 popular MPA tokens
let the different settings show us what works best


Delay is increasing risk that's correct but in biteur there is no other option to gain BTS other than force settlement.You can't buy BTS from market as there are no sellers.Increasing offset will only make that price on market will increase to new settlement price or above making biteur more unpegg.

ok, but this :
Code: [Select]
If (current price >  two-day moving average price) {
  feed price = current price;
}
Else{
  feed price = two-day moving average price;
}

brings nothing new to the case

But increasing Delays, reduces the number of risk takers - that's certain.

And when it comes to Offset, you definitely know that the credit is taken at Feed Price, and the Force Settlement is at the price:
Feed Price + Force Settlement and this discourages, of course not everyone.

The third tool we have is a larger fee for Force Settle, but it should not be flat, it should be relative if it is to be fair. Otherwise it favors the rich.
« Last Edit: April 17, 2020, 12:03:45 pm by fractalnode »

Offline Thul3

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #9 on: April 17, 2020, 12:15:51 pm »
Quote
ok, but this :
Code: [Select]
If (current price >  two-day moving average price) {
  feed price = current price;
}
Else{
  feed price = two-day moving average price;
}

brings nothing new to the case

Correct that's why i voted against it and because we gave the promise after BSIP76 to not touch biteur and bitruble
« Last Edit: April 17, 2020, 12:26:38 pm by Thul3 »

Offline bench

Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #10 on: April 17, 2020, 12:19:53 pm »
To apply BAIP2(https://github.com/bitshares/baips/blob/master/baip-0002.md) on bitEUR will lessen the suppression in supply and liquidity and will activate the ecology of bitEUR.

You wanna now also destroy bitEUR after bitCNY and bitUSD, with your communist shit ?
Be part of the change and vote for the bitshares-vision proxy!

Offline R

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #11 on: April 17, 2020, 01:03:55 pm »
BAIP 2 was proven a failure due to BSIP76 twice intervening. SCAM

Offline abit

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #12 on: April 17, 2020, 01:16:33 pm »
@bitcrab: please don't try to play with the parameters of bitEUR. Leave it to the westerns. Thanks.
BTS account: abit
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Offline litepresence

Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #13 on: April 17, 2020, 01:21:55 pm »
I propose to rename bitassets to crabshitcoins, then report OP to SEC for yet another attempt at market manipulation.   

https://github.com/bitshares/bsips/pull/249

Quote
Re-add BSIP-83: Decouple BitAssets from Platform Governance Process #249
 Open   pmconrad wants to merge 1 commit into bitshares:master from pmconrad:bsip83


https://www.sec.gov/news/press-release/2020-89

Quote
Press Release
SEC Awards Over $27 Million to Whistleblower
Amounts Awarded to Whistleblowers by SEC Now Exceed $400 Million
FOR IMMEDIATE RELEASE
2020-89

Washington D.C., April 16, 2020 —
The Securities and Exchange Commission today announced an award of more than $27 million to a whistleblower who alerted the agency to misconduct occurring, in part, overseas.  After providing the tip to the Commission, the whistleblower provided critical investigative leads that advanced the investigation and saved significant Commission resources.

“This award marks several milestones for the program,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower.  “This is the largest whistleblower award announced by the Commission this year, and the sixth largest award overall since the inception of the program.  This award also brings the total amount awarded to whistleblowers by the SEC over the $400 million mark.” 

The SEC has awarded approximately $425 million to 79 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.

As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.
« Last Edit: April 17, 2020, 01:23:36 pm by litepresence »

Offline binggo

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Re: [Poll] BAIP2: Reform on bitEUR feed price mechanism
« Reply #14 on: April 17, 2020, 01:23:35 pm »
Fooish and stupid!!!

If you didn't have the ability to resolve the problem of bitcny and bitusd now, you shouldn't touch any bitasset again!!!

If the price of bts drop again, which price didn't you want to lock the biteur? which bitasset do you want to reform the BAIP2 again?

BAIP2 is a failed mechanism which has been proved by the market, how you and you small team can't realize the truth until now?!


Quote
bitEUR now suffer great suppression in supply and liquidity by force settlement.

Set force settlement offst to 5%, then you will get what you want:the supply and liquidity!

Oh,i forgot,you and your small team love force settlement so mush, so you want to use BAIP2 to shit every bitasset one by one!

So much stablecoins in the world, please use your brain to see and learn!
« Last Edit: April 17, 2020, 01:32:07 pm by binggo »