[POLL]BAIP8 : Reduce price threshold by 30% for bitcny

[Thul3]

Feed the real bitcny price. There is no alternative solution.

Where was Abit or BEOS or co ?

Can't see them.They didn't needed cn-vote to get it fixed

[R]

Feed the real bitcny price. There is no alternative solution.

[binggo]

I give a advice to recover the feed prices of bitusd:

Set the temporary feed price= X*0.0345 +Y*（bts/bitusd price of DEX + CEX price）

X+Y=1

Increase Y 1%/day

bts/bitusd price of DEX<=0.0345

If the temporary feed price<=1.01*CEX price, recover the feed price;

If the CALL PRICE of first margin position<=CEX price, recover the feed price;

If the CEX price>=0.0345, recover the feed price;

[R]

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.

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?

Finally after we drop out of top 100 you realize that scamming BTS, bitUSD & bitCNY holders and degrading the BSIP/BAIP/Voting processes has been extremely damaging to Bitshares, great!

The answer isn't to double down on scamming via BSIP76. End the fraudulent bitasset pegs.

[optionswallet]

Or  I can to propose another way
No one step back

[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]

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.

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]

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.

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.

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.

[Thul3]

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.

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.

[Thul3]

Now you accept a decline feed to 0.154. After a while, CEX will draw prices even lower and you will accept another reduction in the bitCNY feed. And then, by the same logic, one more and one more. This dependence on fictitious CEX prices leads to dependence on the CEX.


I am going to spend my time and write to each account that has a margin position in bitCNY, vote for raising the BAIP threshold, and set as proxy the account that votes against this initiative to reduce the bitCNY feed. I do not want to watch how CEX takes my money by killing bitshares as its direct competitor.

How about raising the BAIP threshold to 10.0 bitcny/bts？if you make this proposal，i will support you to raise the BAIP threshold to 10.0 bitcny/bts！That's a very exciting thing!

You misunderstood me. I do not want to increase the feed price of the bitCNY. I want to leave it at the same level - 0.22 BTS/bitCNY. The BAIP threshold is just value, which now amounts to about 500 million votes, which must be overcome in order for the reduce the bitCNY price feed to be accepted.

You want to keep scamming bitasset holders and keeping bitassets with no trust ?

That's why you want to pay dividend so people will start using again a broken token ?
Why did people left bitassets where you try them to get back with a dividend ?
You think people are so dumb to take broken bitassets in exchange for a small dividend putting their money into CN-Votes hand ?

Great joke

bit assets are not broken - feed price on CEX are fake.

Ok if CEX prices are fake and feed price are not broken are you going to send me $0.0345 per BTS in USDT when i will send you BTS ?
I can use USDT to pay my bills.
Please also contact magicwallet for having fake price because i'm pretty sure they exchange bitcny to real cny not based on feed price but on cex price.
Tell them they are scammers and evil to bitshares because they don't use our price feed /ironie off

I can not object to you, because the majority is on your side. Majority are mistaken and go the way that the CEX will show him. And this road to hell

How come majority of chinese traders left to cex ?
I see today
GDEX.BTC 2.2k bts volume
GDEX.EOS 12k bts volume
GDEX.ETH 120 bts volume

Not even having a total of 20k bts volume !

So where are your chinese traders ?At Cex ?Because there they can normaly trade without fake price feeds,without risking to lose holding in stable coins and because there is a market ,without BAIP2 which makes force settlements for stablecoins a gamble ?

Cn-Vote and bitcrab totaly destroyed the trading mechanism on bitshares.

But i'm open to hear where the traders are because i can't see them.All i see is bigger CEX wallets and a group destroying bitshares because of their ignorancy even unable to unvote a dead witness because of their pride thinking they know everything better.


Do you remember the promise of BSIP76 ?It is only temporarly to save mainly chinese community to not get rekkt because of price manipulations.
As always that promise has been broken and you are together with bitcrab planing to have it permanent.He even suggested some time ago to increase threshold together with BTS price.

[optionswallet]

Now you accept a decline feed to 0.154. After a while, CEX will draw prices even lower and you will accept another reduction in the bitCNY feed. And then, by the same logic, one more and one more. This dependence on fictitious CEX prices leads to dependence on the CEX.


I am going to spend my time and write to each account that has a margin position in bitCNY, vote for raising the BAIP threshold, and set as proxy the account that votes against this initiative to reduce the bitCNY feed. I do not want to watch how CEX takes my money by killing bitshares as its direct competitor.

How about raising the BAIP threshold to 10.0 bitcny/bts？if you make this proposal，i will support you to raise the BAIP threshold to 10.0 bitcny/bts！That's a very exciting thing!

You misunderstood me. I do not want to increase the feed price of the bitCNY. I want to leave it at the same level - 0.22 BTS/bitCNY. The BAIP threshold is just value, which now amounts to about 500 million votes, which must be overcome in order for the reduce the bitCNY price feed to be accepted.

You want to keep scamming bitasset holders and keeping bitassets with no trust ?

That's why you want to pay dividend so people will start using again a broken token ?
Why did people left bitassets where you try them to get back with a dividend ?
You think people are so dumb to take broken bitassets in exchange for a small dividend putting their money into CN-Votes hand ?

Great joke

bit assets are not broken - feed price on CEX are fake.

Ok if CEX prices are fake and feed price are not broken are you going to send me $0.0345 per BTS in USDT when i will send you BTS ?
I can use USDT to pay my bills.
Please also contact magicwallet for having fake price because i'm pretty sure they exchange bitcny to real cny not based on feed price but on cex price.
Tell them they are scammers and evil to bitshares because they don't use our price feed /ironie off

I can not object to you, because the majority is on your side. Majority are mistaken and go the way that the CEX will show him. And this road to hell

[Thul3]

Now you accept a decline feed to 0.154. After a while, CEX will draw prices even lower and you will accept another reduction in the bitCNY feed. And then, by the same logic, one more and one more. This dependence on fictitious CEX prices leads to dependence on the CEX.


I am going to spend my time and write to each account that has a margin position in bitCNY, vote for raising the BAIP threshold, and set as proxy the account that votes against this initiative to reduce the bitCNY feed. I do not want to watch how CEX takes my money by killing bitshares as its direct competitor.

How about raising the BAIP threshold to 10.0 bitcny/bts？if you make this proposal，i will support you to raise the BAIP threshold to 10.0 bitcny/bts！That's a very exciting thing!

You misunderstood me. I do not want to increase the feed price of the bitCNY. I want to leave it at the same level - 0.22 BTS/bitCNY. The BAIP threshold is just value, which now amounts to about 500 million votes, which must be overcome in order for the reduce the bitCNY price feed to be accepted.

You want to keep scamming bitasset holders and keeping bitassets with no trust ?

That's why you want to pay dividend so people will start using again a broken token ?
Why did people left bitassets where you try them to get back with a dividend ?
You think people are so dumb to take broken bitassets in exchange for a small dividend putting their money into CN-Votes hand ?

Great joke

bit assets are not broken - feed price on CEX are fake.

Ok if CEX prices are fake and feed price are not broken are you going to send me $0.0345 per BTS in USDT when i will send you BTS ?
I can use USDT to pay my bills.
Please also contact magicwallet for having fake price because i'm pretty sure they exchange bitcny to real cny not based on feed price but on cex price.
Tell them they are scammers and evil to bitshares because they don't use our price feed /ironie off

[optionswallet]

Now you accept a decline feed to 0.154. After a while, CEX will draw prices even lower and you will accept another reduction in the bitCNY feed. And then, by the same logic, one more and one more. This dependence on fictitious CEX prices leads to dependence on the CEX.


I am going to spend my time and write to each account that has a margin position in bitCNY, vote for raising the BAIP threshold, and set as proxy the account that votes against this initiative to reduce the bitCNY feed. I do not want to watch how CEX takes my money by killing bitshares as its direct competitor.

How about raising the BAIP threshold to 10.0 bitcny/bts？if you make this proposal，i will support you to raise the BAIP threshold to 10.0 bitcny/bts！That's a very exciting thing!

You misunderstood me. I do not want to increase the feed price of the bitCNY. I want to leave it at the same level - 0.22 BTS/bitCNY. The BAIP threshold is just value, which now amounts to about 500 million votes, which must be overcome in order for the reduce the bitCNY price feed to be accepted.

You want to keep scamming bitasset holders and keeping bitassets with no trust ?

That's why you want to pay dividend so people will start using again a broken token ?
Why did people left bitassets where you try them to get back with a dividend ?
You think people are so dumb to take broken bitassets in exchange for a small dividend putting their money into CN-Votes hand ?

Great joke

bit assets are not broken - feed price on CEX are fake.