Author Topic: am I doing this right (tried to short some bitUSD today)?  (Read 1505 times)

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Offline theoretical

A new rule was implemented in 0.4.10 to limit shorts to median of delegates' price feeds.  It was pushed out in a hurry because so many people wanted to short BitUSD that it was pushing the price so far down that it was destroying the peg.

As a consequence, the GUI wasn't updated to properly show the effects of the new rule.  With a consequence that you could appear to have a short that matched a bid, but would never execute.

There will hopefully be a new 0.4.11 release, which will hopefully fix some of those issues.  My suggestion is to try 0.4.11.

Also, please note that BitBTC market is now open.  If you want to bet that BTSX will gain value against BTC, then you might consider shorting that market instead.
BTS- theoretical / PTS- PZxpdC8RqWsdU3pVJeobZY7JFKVPfNpy5z / BTC- 1NfGejohzoVGffAD1CnCRgo9vApjCU2viY / the delegate formerly known as drltc / Nothing said on these forums is intended to be legally binding / All opinions are my own unless otherwise noted / Take action due to my posts at your own risk

Offline nomoreheroes7

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  • BitShares: nomoreheroes7 experience is that I can't short BitUSD no matter what, and it looks like others are having this issue too (there are many shorts looking to sell at prices lower than the highest buy orders, so the buys/sells are overlapping). I can place the short and have it show up on the sell order side, but it refuses to match to the highest bid. The only option is to cancel the short, after which I receive my BTSX back safe and sound.


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so... i'm not crazy?


3) I switch screens , come back and I have no order at all but BTSX has been debited.

you'll get it back if it's the same bug as I'm having.

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Offline nikauforest

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I restarted the client.
1) My order is still pending in the transaction list. However in the marketplace tab no order exists, so there is no way to cancel the order.

Offline nikauforest

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I am having the same issues:

1) I place a short order to match a bid. ( Just a small 10USD short)
2) The order goes pending.
3) I switch screens , come back and I have no order at all but BTSX has been debited. Also no record in the transactions.
4) I quit the client and restart. Now I see my order still pending, however I have no open orders! ?

bummer! I am going to try and restart again and see what happens.


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LAST UPDATE: Saw that since placing my shorts the price of BTSX fell .2 cents, threw my hands up in the air in disgust, canceled all three short orders, and decided to wait and try to play the market another day.

but leaving this post up in case anybody reads it and can comment on the experience I just had.


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UPDATE: tried it again after realizing I can click on the buy order and it will fill in the short screen accurately for me.

Tried it again with 3 different orders. They were pending indefinitely. exit the client, restart, open shorts are gone again, this time the collateral seems to have poofed.

something tells me if I restart the client again I'll get all my money back. amidst all this I sent a transaction to myself from a different name (thanks onceuponatime! :) and that one still hasn't shown up, so I think that trying to place a short order is somehow causing the blockchain to not sync for me (it gets randomly disconnected shortly after a short order is placed, then reconnects).

more update: alright! progress. I restarted the client again, and the blockchain synced, my transaction to myself went through, and all 3 of the shorts I placed are showing up with a "cancel" button (which I assume means the orders didn't get automatically paired off with their corresponding bids?)
« Last Edit: September 01, 2014, 12:53:27 am by merockstar »


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I decided I could see the price going up from here, and decided to test out the exchange.

I went to the bitUSD:BTSX screen. scrolled down and look at the bids.

took the top three,

5.4432 bitusd @ 28.9
10 bitusd @ 28.9
and 10 bitUSD @ 28.6

so alright. I went to the short tab and entered all the appropriate info, and placed my shorts.

the two @ 28.9 (current highest bid) popped up and I clicked "confirm" under open orders.

guessing based on my approximate btsx total, and the lack of it appearing in the asks, I don't think the 28.6 order took.

but the two 28.9 orders showed up pending for a good long minute, until I exited the client (i noticed it started saying "not connected" randomly after I clicked confirm)

anyway, I figured since I matched my shorts up with corresponding buy orders the transactions would have happened immediately, but they didn't, they just showed up pending.

after exiting the client and coming back in, I see no open orders on this screen. and no button that says "cover." yet I'm down the little bit of btsx it took to place the two short orders I made.

did I do something wrong?

UPDATE: upon another restart, I seem to have ALL my btsx, and the buy orders I was trying to match are still listed. clearly I did something wrong.
« Last Edit: September 01, 2014, 12:25:20 am by merockstar »