Author Topic: Support BitUSD Price by Forced Covering at a Profit  (Read 6189 times)

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Offline yiminh

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #45 on: September 01, 2014, 02:31:55 am »
not just me, everyone can compete in the bounty hehe

Offline liondani

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #46 on: September 01, 2014, 02:32:17 am »
I have a perfect solution to this pegging problem, only need one little change to the current system, no price feeds, no 90% stuff, if you post a 10 M BTSX bounty, I'll post it.

If you are so sure, buy cheap BTSX now by yourself and post your solution after that.
In no time you will profit even more that 10 M of current BTSX prices...

PS if you own allready BTSX, even better...

Offline Riverhead

Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #47 on: September 01, 2014, 02:35:25 am »
Sure, only if it is implemented without changes you get the 1 Million bounty!

10Mil are you nuts?

Don't you think it's worth 10M BTSX if it worked?

Perhaps. But it's just your idea versus everyone else's that are posting up and everyone else thinks they have the solution too. Difference being of course they're collectively trying to solve a problem and you're...I'm not sure what you're doing lol. Buy a lot of BTSX, throw your golden screwdriver out there, and if it works your shares make you rich. If it doesn't you're no further behind.


Offline yiminh

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #48 on: September 01, 2014, 02:42:57 am »
Sure, only if it is implemented without changes you get the 1 Million bounty!

10Mil are you nuts?

Don't you think it's worth 10M BTSX if it worked?


Perhaps. But it's just your idea versus everyone else's that are posting up and everyone else thinks they have the solution too. Difference being of course they're collectively trying to solve a problem and you're...I'm not sure what you're doing lol. Buy a lot of BTSX, throw your golden screwdriver out there, and if it works your shares make you rich. If it doesn't you're no further behind.

hehe, this is fun, I'll wait couple of days to see if anyone else can figure it out:)

Offline tonyk

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #49 on: September 01, 2014, 02:44:46 am »
Sure, only if it is implemented without changes you get the 1 Million bounty!

10Mil are you nuts?

Don't you think it's worth 10M BTSX if it worked?

It might be.
I know a person who's idea is worth several trillion dollars (in my estimation)... He did not get the money for posting his idea and expecting someone to pay him for it. In fact most of us here try to help him get most of that value out of this idea.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead

Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #50 on: September 01, 2014, 03:16:18 am »
Sure, only if it is implemented without changes you get the 1 Million bounty!

10Mil are you nuts?

Don't you think it's worth 10M BTSX if it worked?

It might be.
I know a person who's idea is worth several trillion dollars (in my estimation)... He did not get the money for posting his idea and expecting someone to pay him for it. In fact most of us here try to help him get most of that value out of this idea.


 +5%

Offline Riverhead

Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #51 on: September 01, 2014, 03:19:16 am »
hehe, this is fun, I'll wait couple of days to see if anyone else can figure it out:)


Even if you have the right answer and we come up with the same one we'll never know. Of course you'll jump up and down saying, "Yes! This was my idea!" Frankly it just comes across as looking for attention. So, on that note I'm done responding to your attention bate posts.

Offline yiminh

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #52 on: September 01, 2014, 06:56:14 am »
hehe, this is fun, I'll wait couple of days to see if anyone else can figure it out:)


Even if you have the right answer and we come up with the same one we'll never know. Of course you'll jump up and down saying, "Yes! This was my idea!" Frankly it just comes across as looking for attention. So, on that note I'm done responding to your attention bate posts.

Only when you have a solution can you realize the current peg needs work, ByteMaster kind of suspected that, but most of you don't even think there is a problem, I need BTSX, not attention, nobody knows who I am.

Offline vegolino

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #53 on: September 01, 2014, 10:58:07 am »
Dear yiminih,

Working together and helping each other is very rewarding experience and I would recommend it that you should give it a go. You will be pleasantly surprised.   

Peace and Love  :)

Offline James212

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #54 on: September 01, 2014, 11:32:52 am »
Dear yiminih,

Working together and helping each other is very rewarding experience and I would recommend it that you should give it a go. You will be pleasantly surprised.   

Peace and Love  :)

 +5%  :)
BTS: theangelwaveproject

Offline jamesc

Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #55 on: September 02, 2014, 10:56:49 am »
I think the people who care the most about the price feeds are the investors.  The delegates don't have any liability; a delegate can claim hey "the platform made me do it!" 

So use the wallet as the testing grounds for these great ideas.  Lets see two simple options become available to wallet uses / investors.   The investor will be highly motivated to monitor and tweak for profitability.  They will decide how much to risk and how tight the stops can operate.  The best methods should spread and stabilize the peg (very quick, and perhaps automated)..

This gives the option to send a notice and: approve, deny, or auto-approve.

Finally, I don't think the platform can do this for Bob, it does not have Bob's private key.  Even if Bob pre-signed transactions, the delegate could misbehave by broadcasting it out too early, late, or not at all.  Best if we only trust delegates to include transactions and be reliable but not to issue transactions.  It would be nice to put the auto-approve in the delegate, but I can't see how to do that.

Finally, platform and delegates can claim "the investor made me do it."
« Last Edit: September 02, 2014, 12:15:50 pm by jcalfee1 »

Offline Shentist

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #56 on: September 02, 2014, 04:45:19 pm »
my idea with my knowledge of english  ;)

what we need:
1. liquidity - the new rules around the median price killed the whole bitUSD market. 1 trade per hour is nothing!
2. we want more stability in direction to the peg

i am against all this 10% of something to cover etc. it makes everything complicated and at most, if we see this in the future on the other side, how do we react?

so we need a solution for every situation.

1. what does it mean to peg the USD?

it will oszillate around it, so if we start not 1:1 it is absolute fine, because in extreme situation the peg will not hold, because the buyers and sellers will struggle for the savesed bet.
so in the moment more people, or extreme more people want to short bitUSD and drive the price away from market peg.

my solution

1. we just count the volume the last say 1.000 trades

- 5000 BTSX are traded on the bid side
- 50.0000 BTSX are traded on the short side

its 5.000 : 50.000 = 1:50

we are in an extreme enviroment, who everyone looks to short bitUSD

so we will do this

1 : 50 = 50 -1 = 49
49 is translatet do 49% interest

bid side is 30 with 1.000 bitUSD
short side is 32 with 30.000 bitUSD

if you want to short and buy the bid side away you have not to pay 1.000 BTSX + colleteral, but the new counting will look like this
30.000 BTSX + 49% interest for the buyer of bit USD or 14.700 BTSX == 44.700 BTSX to buy the bid side away with a short from the buyer (extreme expensive)

now it is extreme expensive to do this.

this interest will adjust after a couple of trades.

advantages?

1. the market can trade freely and will decide which price is worth to pay
2. in an extreme situation it will much more intesting to take the other side, so more liquidity for the unfavorde side
3. the rules are for both sides, so if in the future the conditions are in favore of bitUSD we don't need to worry because the short will get a premium to take the position

i hope you could follow my idea.
« Last Edit: September 02, 2014, 05:13:01 pm by Shentist »

Offline Empirical1.1

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #57 on: September 02, 2014, 05:01:12 pm »
@ Shentist I don't understand your solution, I will try understand later, but yes the market is there waiting to explode.

There are a queue of people wanting to short BitAssets at fair market price around the peg. (Shorts want to support the peg.) We need to find a very simple mechanism to find that fair market price that supports the peg too.



Offline jsidhu

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #58 on: September 02, 2014, 05:01:37 pm »
I have a perfect solution to this pegging problem, only need one little change to the current system, no price feeds, no 90% stuff, if you post a 10 M BTSX bounty, I'll post it.

Post your academic background and qualifications and maybe someone will take you up on that offer. But I doubt anyone will take you seriously.

Usually this kind of thing means we structure some sort of incentive to be long bitusd and punish short bitusd.. however this may adversely affect the market in a few ways mainly speculative attacks/hacks and might actually dry up shorts altogether and will undermine confidence in the system.

Main thing is if you're coming up with a solution then what is the incentive to hold long and not hold short? Some are throwing the up idea of interest rates.. some are saying other things, each have their pro's and con's if we weigh each idea with pro's and con's we can find which ones are a better fit in as objective manor as possible.
« Last Edit: September 02, 2014, 05:07:48 pm by jsidhu »
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Offline eagleeye

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Re: Support BitUSD Price by Forced Covering at a Profit
« Reply #59 on: September 02, 2014, 05:13:14 pm »
Quote
Now all Alice has to do is wait and Bob will buy it back for $1...  This is because due to price movement one of two things will happen:

But what if she doesn't want to wait and what if she has a large volume that the market can't support in times of low liquidity. We want those kind of buyers to enter the market no?

So it looks like a double punishment for shorters. The imminent consequence of this is fewer people willing to short, and as a result slower growth of BitUSD supply.

There seem to be long queues of people willing to short. The growth of BitAssets in the short to medium term seems like it will be determined  by how appealing it is to the people going long BitAssets.

In the bitsharesx platform is there a part of the Interface that shows people wanting to want to go short?  Or do we have no one wanting to do this yet?  I cant see it in yet but I could be blind (please laugh).