Main > Stakeholder Proposals
[POLL]BAIP8 : Reduce price threshold by 30% for bitcny
bitcrab:
maybe we need to consider another kind of road to reach the target, say, reduce the threshold at 2% every week, then the threshold will be 0.15CNY 4 months later, and minimize the hurt to the debt position owners as well.
optionswallet:
Account "options-wallet" will no longer support bitcrab
minus 2 million votes of course not much , but still
bitcrab:
--- Quote from: bitcrab on June 22, 2020, 02:52:27 am ---do not support this, it will hurt a big group one more time.
to optimize the system, firstly need to find a chance to lower the USD threshold to be equal to that of CNY.
--- End quote ---
I now changed my idea, I'd like to support this kind of proposal.
I have expected that BTS price can be up 0.22CNY without much difficulty. so bitCNY can return to peg naturally, but what happened is not what I expected.
Now although bitCNY has big supply, but it's more like a game.
reducing threshold from 0.22 to 0.154 will hurt debt position owners, but maybe this is not avoidable, and is better than continuing the offpeg.
we have hurt bitCNY holders for the future of BTS, can't we hurt debt position owners for the same?
actually I don't think it's easy to get enough voting power that support this, maybe it's better to do the same for bitUSD?
binggo:
@Thul3
I sincere advice you didn't need to make great efforts to fight for BTS again and again, you can return you vote to alt， let cn-vote/beos/alt/bitcrab/abit decide the future of BTS and what they want BTS to become，they can spend the money as they like，they can do whatever as they want to do.
The BTS already lost its spirit long time ago, fighting for it is a waste of time.
Sincere advice, it's not worth it!
bitcrab:
--- Quote from: Thul3 on June 22, 2020, 02:14:47 pm ---
--- Quote from: bitcrab on June 22, 2020, 02:52:27 am ---do not support this, it will hurt a big group one more time.
to optimize the system, firstly need to find a chance to lower the USD threshold to be equal to that of CNY.
--- End quote ---
Based on that comment we are going to hurt bitusd debt holders when lowering price feed of CNY.
Could you please explain how this would happen without touching the price feed of bitusd.
--- End quote ---
currently the USD/CNY market rate is about 7.06(maybe not exactly, but should be close).
at that rate, 0.22CNY=0.031USD.
the 2 threshold should be equal or as close as possible. but now the USD threshold is 0.0345, as initially the 2 thresholds are set unequal due to some special concerns.
I said "lower the USD threshold", clearly said that it will definitely touch the price feed of bitUSD, the problem is to find a good chance to minimize the secondary hurting.
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