Author Topic: how about slowly lowering the bitUSD and bitCNY feed price threshold?  (Read 501 times)

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Offline bitcrab

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BTS community had suffered the dead spiral for long time, BSIP76 is created to fight against this, I believe everyone have seen that BSIP76 made sense in resisting shorting attack. however it now brought another big question: bitCNY and bitUSD peg off for long time, this bring great trouble in the ecosystem.

I would like to ask such a question -  now is it possible for us to slowly lower the bitUSD and bitCNY feed price threshold to solve this question?

A simple idea is that, firstly lower the bitUSD threshold to close to bitCNY threshold, in other words, lower from 0.0345USD to about 0.0311USD, in 1 or 2 steps.

and then lower  bitUSD and bitCNY feed price threshold synchronously with care and slowly, if the community can reach great consensus on each step.

thoughts?



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Offline optionswallet

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BTS community had suffered the dead spiral for long time, BSIP76 is created to fight against this, I believe everyone have seen that BSIP76 made sense in resisting shorting attack. however it now brought another big question: bitCNY and bitUSD peg off for long time, this bring great trouble in the ecosystem.

I would like to ask such a question -  now is it possible for us to slowly lower the bitUSD and bitCNY feed price threshold to solve this question?

A simple idea is that, firstly lower the bitUSD threshold to close to bitCNY threshold, in other words, lower from 0.0345USD to about 0.0311USD, in 1 or 2 steps.

and then lower  bitUSD and bitCNY feed price threshold synchronously with care and slowly, if the community can reach great consensus on each step.

thoughts?

Wanna to give up? For the sake of a radical minority ? Better start publish  price feeds  based on the last prices of the DEX.

Offline bitcrab

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Wanna to give up? For the sake of a radical minority ? Better start publish  price feeds  based on the last prices of the DEX.

I don't think it's good to completely give up BSIP76 and restore to just feed market price as before, we still need to resist shorting attack and to transit to a good status smoothly.

BAIP2 has been applied to bitCNY and bitUSD, this will greatly help to resist shorting attack while market price is above threshold.

and the lowering process should be slowly and in steps, to try to avoid another kind of hurting.
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Offline binggo

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Quote
Better start publish  price feeds  based on the last prices of the DEX.

I like this idea, the feed price can chose the latest price of the DEX, and the newer feed price must be less than or equal the previous feed price,if the latest price of the DEX is highter than the previous feed price,the feed pirce will still be the previous feed price.

Than we can wait the feed pirce close to cex price slowly or the call price of first margin position<=cex price

The first feed price will be the locked price.

And we must set the offset of force settlement to 5% first, en,many of you will didn't understand why?Check the bitasset market,then you will see.



The BSIP76 can't resist shorting attack, the reality had already show the answer, with BSIP76, the price of BTS still can fall from 0.561 to 0.06, even with BAIP2, now the price is 0.13.

"shorting attack" is a very very very normal market behavior, it is not a problem, the real problem is the mechanic defect of bitasset. You can't use the knife to kill youself to stop the market behavior or other laugh at you.


And i suggest to use BAIP4 instead of BAIP2.

The trader want a cooling time when the price collapses,so we can give them one or two hours,but in the most of the time,the feed price should follow the real price.
And it still can resist "shorting attack".
« Last Edit: May 14, 2020, 08:58:49 am by binggo »

Offline optionswallet

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You don't need CEX at all.
CEX's price is fake, CEX's chart is fake. Even you'll see a billion volume on CEX no BTS will move.
We shouldn't choose backseats in the bus.

Offline binggo

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You don't need CEX at all.
CEX's price is fake, CEX's chart is fake. Even you'll see a billion volume on CEX no BTS will move.
We shouldn't choose backseats in the bus.

We need CEX price, that's very very very important for bitasset, even their price is fake, chart is fake.

If we didn't have the price of CEX, the bitasset will be out of control, become more fake,even now the bitasset has been out of control by ourself.

Offline optionswallet

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just as well, we can call Ronny Boesing and ask what price feeds we should publish today

Offline R

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Give 24hrs notice then publish the real price. The bitassets have not had their peg for almost a year, as is they are dead scam coins with zero future.

Offline bench

thoughts?
Lowering price feed threshold every day by 0.5%. 
Be part of the change and vote for the bitshares-vision proxy!

Offline binggo

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thoughts?
Lowering price feed threshold every day by 0.5%.

They didn't really want to unlock the feed price,and they didn't want to give a promise never use bsip76 in the future.

The reputation have been broken in such long time feed price threshold.

This decision was decided by the bts holders and margin holders, so all of them must suffer the result of zero price.

The holders of bitasset? en, nobody care, let the holders of bitasset go to die!
« Last Edit: May 18, 2020, 04:46:19 am by binggo »

Offline bench

The holders of bitasset? en, nobody care, let the holders of bitasset go to die!

https://bitsharestalk.org/index.php?topic=32035.0
Be part of the change and vote for the bitshares-vision proxy!

Offline binggo

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The holders of bitasset? en, nobody care, let the holders of bitasset go to die!

https://bitsharestalk.org/index.php?topic=32035.0

I know these assets, but i don't agree the design, as the original design of bitasset is incomplete and defective.

I have given a picture to improve the whole design of bitasset, learned the lessons in the past years, uitilized other programs, these will be very helpful for bitasset.