Bitshares DEX Telegram History

Stefan13:17:05 - 18 Oct 2018 [UTC]

clockworkgr

ive got kids and very limited tim

Yea yea... Amount of pings is directly proportional to importance, maybe it doesn't count it the ping comes from the same person, but 🤷‍♂

Stefan13:17:36 - 18 Oct 2018 [UTC]

clockworkgr

gimme a break

❤️ jk...

da Lexx13:18:58 - 18 Oct 2018 [UTC]

he needs that pushes. makes him stronger 💪 :P

da Lexx13:19:10 - 18 Oct 2018 [UTC]

faster and smarter

Alex M - clockwork13:20:09 - 18 Oct 2018 [UTC]

and with less sleep

Alex M - clockwork13:20:26 - 18 Oct 2018 [UTC]

me and @funkit have arunning contest on who can sleep the least :P

Stefan13:21:44 - 18 Oct 2018 [UTC]

clockworkgr

me and @funkit have arunning contest on who can sleep the least :P

Beet gotta be polished for decentralized, you know that right? 😁

Alex M - clockwork13:22:04 - 18 Oct 2018 [UTC]

sschiessl

Beet gotta be polished for decentralized, you know that right? 😁

i'llhave you do a live stress test if you keep on liek this :P

Channel_Bot13:22:53 - 18 Oct 2018 [UTC]

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da Lexx13:24:02 - 18 Oct 2018 [UTC]

cool to see that guys. looking forward to beet !

funkit14:25:14 - 18 Oct 2018 [UTC]

clockworkgr

me and @funkit have arunning contest on who can sleep the least :P

Funny you should say that. The exercise @sschiessl put me through made me doze off. I need to cut the internet soon.

Alex M - clockwork14:25:37 - 18 Oct 2018 [UTC]

funkit

Funny you should say that. The exercise @sschiessl put me through made me doze off. I need to cut the internet soon.

that boring

Alex M - clockwork14:25:39 - 18 Oct 2018 [UTC]

funkit14:26:31 - 18 Oct 2018 [UTC]

That "ordnung muß sein" ish

Alex M - clockwork14:26:48 - 18 Oct 2018 [UTC]

let me google that

funkit14:27:20 - 18 Oct 2018 [UTC]

More internet. It's a drug.

Stefan14:54:33 - 18 Oct 2018 [UTC]

funkit

That "ordnung muß sein" ish

🍺

fav14:54:42 - 18 Oct 2018 [UTC]

are you guys drinking again

Vỹ Nguyễn Văn15:03:48 - 18 Oct 2018 [UTC]

Bitshares list bitthump come soon 😉😉😉

Dariia15:22:45 - 18 Oct 2018 [UTC]

Dear BitShares fans, have you already had a chance to test a new BitShares explorer launched by OpenLedger team? If not, here is a link to give it a try www.bitsharescan.com BTW you can leave you comments for dev team here https://bitsharestalk.org/index.php?topic=27057.0

spirit absolute15:53:43 - 18 Oct 2018 [UTC]

dariiap

👍

Money Gang16:00:09 - 18 Oct 2018 [UTC]

Are there people who sell BTC? I need to buy some. Post in a private message who can sell.

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Carla Bongo16:22:01 - 18 Oct 2018 [UTC]

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Georgy17:15:12 - 18 Oct 2018 [UTC]

dariiap

👌

N17:38:49 - 18 Oct 2018 [UTC]

hi all

nutela18:09:37 - 18 Oct 2018 [UTC]

whether someone obeys their local laws or not is up to them. i'm sure there are laws regarding the offering of crypto/fiat conversion services. imo this is one reason why localbitcoins is illegal in germany. anyway, imo offering Teller services in cities is a great idea. coincap.io shows pricing in many different fiat currencies too. so look at the price of BTS in your local fiat, add your markup and do the trade. merchants will love you for it (being built-in to PalmPay v1.4 by the way)

nutela18:09:37 - 18 Oct 2018 [UTC]

That's what I like to hear!

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Алексей20:25:32 - 18 Oct 2018 [UTC]

Dear administration. I applied for registration on the forum https://bitsharestalk.org and in the main branch "General Discussion" found a link to this chat. Please expedite the approval of my registration on the forum under the login seyseich66. I have a serious problem that requires the urgent intervention of the members of the Committee, to whom I wish to request assistance through the forum.

Johnson Kelvin20:57:11 - 18 Oct 2018 [UTC]

You want to earn big on bitcoin, message me now, it's up to you now to decide.

Joshua21:12:00 - 18 Oct 2018 [UTC]

Hello, is there anyone that can help me with graphene api calls? I am trying to get_order_book from a node, but have trouble getting the format correct

Joshua21:12:35 - 18 Oct 2018 [UTC]

I am familiar with how rest/socket api endpoints work, I just can't seem to figure out the bitshares graphene format

Johnson Kelvin21:18:03 - 18 Oct 2018 [UTC]

You want to earn big on bitcoin, message me now, it's up to you now to decide.

Johnson Kelvin21:18:23 - 18 Oct 2018 [UTC]

You want to earn big on bitcoin, message me now, it's up to you now to decide.

Stanee21:18:45 - 18 Oct 2018 [UTC]

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Peter Parker21:21:07 - 18 Oct 2018 [UTC]

Alfredo Garcia21:24:55 - 18 Oct 2018 [UTC]

try

Alfredo Garcia21:24:57 - 18 Oct 2018 [UTC]

`curl --silent -d '{"id":1,"method":"call","params":["database","get_order_book",["1.3.0", "1.3.113", 1]]}' http://127.0.0.1:8090/ws`

Alex Thormund21:25:34 - 18 Oct 2018 [UTC]

Now would be a good time to grow your bitcoin cause of the downward trend of all the cryptocurrency. DM for help to grow your coin

Alfredo Garcia21:25:37 - 18 Oct 2018 [UTC]

this should also work: `curl --silent -d '{"id":1,"method":"call","params":["database","get_order_book",["BTS", "CNY", 1]]}' http://127.0.0.1:8090/ws `

Alfredo Garcia21:26:19 - 18 Oct 2018 [UTC]

first 2 parameters should be pretty clear, the third one is a limit on how many results you want to get

ALEKCEY133721:36:28 - 18 Oct 2018 [UTC]

Who wants to get $ 77 for a couple of actions, write in @ALEKCEY1337 . But only if you had 5 transactions)

bench22:30:24 - 18 Oct 2018 [UTC]

why is the margin call price for bitUSD on 0.11$ ?

bench22:30:49 - 18 Oct 2018 [UTC]

when BTS is traded around 0.096$

Kevin22:32:20 - 18 Oct 2018 [UTC]

habibi7

why is the margin call price for bitUSD on 0.11$ ?

You'll need to speak with bitcrab about that one.

bench22:39:15 - 18 Oct 2018 [UTC]

I am aware of increased feed price to compensate premiums on bitUSD, but having margin calls on this lvl, they never get eaten

bench22:40:28 - 18 Oct 2018 [UTC]

people under 1.5 should be forced to sell at market price

bench22:47:22 - 18 Oct 2018 [UTC]

price to get called != selling price on the market

Braeden Patterson00:30:06 - 19 Oct 2018 [UTC]

habibi7

I am aware of increased feed price to compensate premiums on bitUSD, but having margin calls on this lvl, they never get eaten

I think we should be like tusd, hitting prestigious exchanges lately. We need that to gain more popularity in the market

Mr. Yosso01:31:18 - 19 Oct 2018 [UTC]

pattersonbrad

I think we should be like tusd, hitting prestigious exchanges lately. We need that to gain more popularity in the market

why? I dont think bitshares needs to follow what other projects are doing

Braeden Patterson01:31:39 - 19 Oct 2018 [UTC]

Mr. Yosso

why? I dont think bitshares needs to follow what other projects are doing

just a suggestion, because lately TUSD is progressing so well

funkit01:54:50 - 19 Oct 2018 [UTC]

Except the feed is screwed as fuck at the moment, I don't see no benefit copying the "popular" fiat equivalents. The smart coin system is ingenious as it is except from this blunder. Imho it is the USE of this system, not the exchanges that is the real value.

Braeden Patterson02:07:39 - 19 Oct 2018 [UTC]

funkit

am not saying to copy, I just say is that TUSD progress so fast

Chatchai Tangwongprasert02:08:19 - 19 Oct 2018 [UTC]

https://www.cryptominingfarm.io/signup/?referrer=5B5D79E5374A1

N02:40:16 - 19 Oct 2018 [UTC]

👍

Natarajan Dhanapal02:47:47 - 19 Oct 2018 [UTC]

Beldex coin are you listing bitshares exchange

Braeden Patterson02:53:46 - 19 Oct 2018 [UTC]

Natarajan Dhanapal

Beldex coin are you listing bitshares exchange

i don't see any sign of listing that coin

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Slavi La Libertad05:39:40 - 19 Oct 2018 [UTC]

So margin calls will never be eaten... Current price is 0.095. It brings us close to global settlement for bitusd. :|

Mathew06:30:29 - 19 Oct 2018 [UTC]

All we can do is vote against it, I've said repeatedly I'm not keen

Braulio07:37:06 - 19 Oct 2018 [UTC]

螃蟹

螃蟹07:38:00 - 19 Oct 2018 [UTC]

I agree with the witness to make an appropriate correction of the feeding price to guarantee the stability of bitcny and bitusd, but I do not understand why the feeding price of bitusd is so different.

Santa07:51:05 - 19 Oct 2018 [UTC]

nutela08:17:23 - 19 Oct 2018 [UTC]

memset

Is that the real ratio at the end? Shouldn't it always been at least 175%?

Slavi La Libertad08:19:05 - 19 Oct 2018 [UTC]

nut3l4

Is that the real ratio at the end? Shouldn't it always been at least 175%?

Yes. Go to https://market.rudex.org/#/asset/USD and click "Margin positions" tab.

nutela08:19:47 - 19 Oct 2018 [UTC]

memset

Yes. Go to https://market.rudex.org/#/asset/USD and click "Margin positions" tab.

But how can that happen? Is that the first time since bsip42?

Slavi La Libertad08:20:52 - 19 Oct 2018 [UTC]

nut3l4

But how can that happen? Is that the first time since bsip42?

Witnesses provide very high feed prices. It's a question to witnesses.

nutela08:21:36 - 19 Oct 2018 [UTC]

memset

Witnesses provide very high feed prices. It's a question to witnesses.

Right so it's the feed price is now artificial?

Alex M - clockwork08:21:39 - 19 Oct 2018 [UTC]

not a question if it "should"

Kevin08:22:08 - 19 Oct 2018 [UTC]

nut3l4

Right so it's the feed price is now artificial?

Very artificial

Kevin08:22:45 - 19 Oct 2018 [UTC]

memset

Witnesses provide very high feed prices. It's a question to witnesses.

Most of the witnesses that changed their settings listen to bitcrab.

Alex M - clockwork08:22:47 - 19 Oct 2018 [UTC]

it can go below 1.75 ...it's not some kind of hard limit...it means that the people with CR udner 1.75 have been margin called..

Alex M - clockwork08:23:03 - 19 Oct 2018 [UTC]

currently those calls are at a higher price than market though

Kevin08:24:05 - 19 Oct 2018 [UTC]

clockworkgr

it can go below 1.75 ...it's not some kind of hard limit...it means that the people with CR udner 1.75 have been margin called..

But the margin order is not even close to being triggered. That's a major issue which I thought was addressed a few months ago. Bitcrabs meddling has led to this situation.

Slavi La Libertad08:24:26 - 19 Oct 2018 [UTC]

Kimchiking

But the margin order is not even close to being triggered. That's a major issue which I thought was addressed a few months ago. Bitcrabs meddling has led to this situation.

Alex M - clockwork08:24:35 - 19 Oct 2018 [UTC]

Kimchiking

But the margin order is not even close to being triggered. That's a major issue which I thought was addressed a few months ago. Bitcrabs meddling has led to this situation.

the order is there...just at a higher price...

Slavi La Libertad08:25:11 - 19 Oct 2018 [UTC]

In this way margin calls will never be eaten.

Kevin08:25:26 - 19 Oct 2018 [UTC]

clockworkgr

the order is there...just at a higher price...

Just being there does no good. It needs to be reachable to ensure a black swan event doesn't occur. You know this of course, and I know it's not in your ability to fix.

Alex M - clockwork08:25:47 - 19 Oct 2018 [UTC]

memset

In this way margin calls will never be eaten.

depends...the order book up to the calls is quite thin

Alex M - clockwork08:25:55 - 19 Oct 2018 [UTC]

if peopel are not buying it now

Alex M - clockwork08:26:15 - 19 Oct 2018 [UTC]

they wouldnt have been buying it with a call either

Alex M - clockwork08:26:31 - 19 Oct 2018 [UTC]

but yes, a GS risk is bigger noew

Alex M - clockwork08:26:33 - 19 Oct 2018 [UTC]

now

Slavi La Libertad08:26:34 - 19 Oct 2018 [UTC]

For bitcny the closest ratio is 1.75, it's ok. But bitusd in some different state...

Slavi La Libertad08:27:32 - 19 Oct 2018 [UTC]

May be it's a part of US/China trade war. :))

Kevin08:27:36 - 19 Oct 2018 [UTC]

clockworkgr

depends...the order book up to the calls is quite thin

132K BTS need to be bought before that margin call order is reached and that doesn't take into account any new orders placed by bots and human traders along the way.

Kevin08:28:27 - 19 Oct 2018 [UTC]

I think we need to contact the witnesses who have their feed price so damn high for bitUSD and have them change back to how it was immediately.

Slavi La Libertad08:28:49 - 19 Oct 2018 [UTC]

Kimchiking

132K BTS need to be bought before that margin call order is reached and that doesn't take into account any new orders placed by bots and human traders along the way.

It will be "funny" that 130k BTS brings bitusd to global settlement...

Kevin08:28:55 - 19 Oct 2018 [UTC]

The lowest ratio being 1.36 is a bit too close for my liking.

Alex M - clockwork08:29:02 - 19 Oct 2018 [UTC]

Kimchiking

132K BTS need to be bought before that margin call order is reached and that doesn't take into account any new orders placed by bots and human traders along the way.

and another 2m or so to push riskier position to 1.75

Slavi La Libertad08:29:07 - 19 Oct 2018 [UTC]

Kimchiking

I think we need to contact the witnesses who have their feed price so damn high for bitUSD and have them change back to how it was immediately.

Agree.

Kevin08:29:16 - 19 Oct 2018 [UTC]

memset

It will be "funny" that 130k BTS brings bitusd to global settlement...

That would be a sad moment in our history.

Alex M - clockwork08:29:36 - 19 Oct 2018 [UTC]

Kimchiking

I think we need to contact the witnesses who have their feed price so damn high for bitUSD and have them change back to how it was immediately.

that will black swan bitUSD immediately

Kevin08:29:37 - 19 Oct 2018 [UTC]

clockworkgr

and another 2m or so to push riskier position to 1.75

Very good point. Let's get ahead of this before it gets any worse.

Alex M - clockwork08:29:48 - 19 Oct 2018 [UTC]

Kimchiking

Very good point. Let's get ahead of this before it gets any worse.

so 2.2m

螃蟹

螃蟹08:29:57 - 19 Oct 2018 [UTC]

The bitusd feed price can be modified, but I don't agree with the exaggerated modification

Alex M - clockwork08:30:06 - 19 Oct 2018 [UTC]

compare with the past where we had 10-20m positions under 1.75

Alex M - clockwork08:30:15 - 19 Oct 2018 [UTC]

thats why i say it's "thin"

Kevin08:30:29 - 19 Oct 2018 [UTC]

clockworkgr

that will black swan bitUSD immediately

Good thing you're here because I wouldn't have known that.

Alex M - clockwork08:30:31 - 19 Oct 2018 [UTC]

but yes...1.35 is riskier

Kevin08:32:16 - 19 Oct 2018 [UTC]

clockworkgr

but yes...1.35 is riskier

Why don't you provide a price feed for bitUSD? Just curious.

螃蟹

螃蟹08:32:18 - 19 Oct 2018 [UTC]

I think we should ask the witness why the price is so high.

Alex M - clockwork08:32:42 - 19 Oct 2018 [UTC]

Kimchiking

Why don't you provide a price feed for bitUSD? Just curious.

because mixed strategy feeds are even more dangerous

Kevin08:33:00 - 19 Oct 2018 [UTC]

So better to just stay out all together.

Alex M - clockwork08:33:01 - 19 Oct 2018 [UTC]

so since majority of witnesses were feedign bsip42 i withdrew to not interfere

Alex M - clockwork08:33:23 - 19 Oct 2018 [UTC]

i'm curious to see hwo this plays out

Kevin08:34:12 - 19 Oct 2018 [UTC]

Sounds more like a circle jerk to me.

Alex M - clockwork08:34:21 - 19 Oct 2018 [UTC]

if bitUSD survives this , i consider it a decent proof that bsip42 can work...

Alex M - clockwork08:34:31 - 19 Oct 2018 [UTC]

albeit not with a modified price feed

Kevin08:35:17 - 19 Oct 2018 [UTC]

I have a feeling that this will turn into a failed experiment if BTC continues to fall. The easy way out of this would be a nice rise in the price of BTC.

螃蟹

螃蟹08:35:36 - 19 Oct 2018 [UTC]

Kimchiking

I have a feeling that this will turn into a failed experiment if BTC continues to fall. The easy way out of this would be a nice rise in the price of BTC.

Yes

Kevin08:36:02 - 19 Oct 2018 [UTC]

Anyone have a few million bucks they can spend on buying some BTC? LOL

Alex M - clockwork08:36:46 - 19 Oct 2018 [UTC]

feed is stabilisign btw

螃蟹

螃蟹08:37:01 - 19 Oct 2018 [UTC]

When the BTC appears to fall, the feeding price should fall in time to reduce systemic risk, which can be seen that the witness did not do so.

Alex M - clockwork08:37:21 - 19 Oct 2018 [UTC]

finnbts

When the BTC appears to fall, the feeding price should fall in time to reduce systemic risk, which can be seen that the witness did not do so.

it does

Kevin08:37:24 - 19 Oct 2018 [UTC]

clockworkgr

feed is stabilisign btw

I see that. The spread is very tight right now.

Slavi La Libertad08:37:28 - 19 Oct 2018 [UTC]

Without bsip-42 margin calls were eaten pieces by pieces and it was moving away slowly a price of global settlement. Now the price of global settlement is like fixed.

Alex M - clockwork08:38:00 - 19 Oct 2018 [UTC]

Kimchiking

I see that. The spread is very tight right now.

you'll also notice that DEX is trading almost exactly at BTS/USD cex price

Alex M - clockwork08:38:06 - 19 Oct 2018 [UTC]

rather than below

Alex M - clockwork08:38:37 - 19 Oct 2018 [UTC]

those are the reasons why BSIP42 was proposed...

Alex M - clockwork08:38:43 - 19 Oct 2018 [UTC]

and today is a good test

Kevin08:39:07 - 19 Oct 2018 [UTC]

clockworkgr

you'll also notice that DEX is trading almost exactly at BTS/USD cex price

You don't see that very often.

Kevin08:39:18 - 19 Oct 2018 [UTC]

clockworkgr

and today is a good test

I guess it's a give and take situation.

Alex M - clockwork08:39:23 - 19 Oct 2018 [UTC]

Kimchiking

You don't see that very often.

yeah because peg is tight

螃蟹

螃蟹08:39:36 - 19 Oct 2018 [UTC]

I don't know why anyone would think that market cap management is wrong, and if we had enough BTS mortgaged to produce bitusd, that risk could have been avoided entirely.

Kevin08:39:47 - 19 Oct 2018 [UTC]

Well, I will keep my fingers crossed and hope this works out for the best.

Alex M - clockwork08:39:47 - 19 Oct 2018 [UTC]

finnbts

I don't know why anyone would think that market cap management is wrong, and if we had enough BTS mortgaged to produce bitusd, that risk could have been avoided entirely.

ask the FED

Alex M - clockwork08:39:54 - 19 Oct 2018 [UTC]

and any central bank in the world

Alex M - clockwork08:42:02 - 19 Oct 2018 [UTC]

as long as peg remains constant, feed price will approach dex price and bring calls closer to market

nutela08:43:23 - 19 Oct 2018 [UTC]

Kimchiking

132K BTS need to be bought before that margin call order is reached and that doesn't take into account any new orders placed by bots and human traders along the way.

Sold you mean.

Alex M - clockwork08:43:44 - 19 Oct 2018 [UTC]

Kevin08:43:44 - 19 Oct 2018 [UTC]

nut3l4

Sold you mean.

They need to be sold to someone who is buying.

Alex M - clockwork08:43:48 - 19 Oct 2018 [UTC]

bought

Victor Wills08:43:54 - 19 Oct 2018 [UTC]

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Victor Wills08:44:00 - 19 Oct 2018 [UTC]

Alex M - clockwork08:44:15 - 19 Oct 2018 [UTC]

by someone

George (Bitspark)08:44:28 - 19 Oct 2018 [UTC]

clockworkgr

you'll also notice that DEX is trading almost exactly at BTS/USD cex price

That’s for the market to determine not for the witnesses to artificially remove any incentive to arbitrage in a healthy premium or discounted market.

Alex M - clockwork08:44:28 - 19 Oct 2018 [UTC]

theyre already beign sold since the order is on the book

Victor Wills08:44:30 - 19 Oct 2018 [UTC]

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nutela08:45:03 - 19 Oct 2018 [UTC]

Wait selling is black swan not buying

Alex M - clockwork08:45:25 - 19 Oct 2018 [UTC]

George_Bitspark

That’s for the market to determine not for the witnesses to artificially remove any incentive to arbitrage in a healthy premium or discounted market.

possibly...that's the big question ...whether the peg is more important

Alex M - clockwork08:45:34 - 19 Oct 2018 [UTC]

than trader gains

Kevin08:45:55 - 19 Oct 2018 [UTC]

nut3l4

Wait selling is black swan not buying

Not having enough buyers and the lowest margin position falls below 1x CR.

Alex M - clockwork08:45:57 - 19 Oct 2018 [UTC]

margin call => sell collateral to BUY bitUSD to settle devt

Alex M - clockwork08:46:09 - 19 Oct 2018 [UTC]

so teh calls are SELLING BTS

Alex M - clockwork08:46:14 - 19 Oct 2018 [UTC]

that someone needs to BUY

nutela08:46:35 - 19 Oct 2018 [UTC]

Right

螃蟹

螃蟹08:46:38 - 19 Oct 2018 [UTC]

Bitcny still has a good performance in running BSIP42, so I think the current situation of bitusd is temporary, provided that there is no problem this time and he can be corrected.

Alex M - clockwork08:46:40 - 19 Oct 2018 [UTC]

fwiw, if the calls were selling BTS at market price

nutela08:46:42 - 19 Oct 2018 [UTC]

So lower price of BTS

Alex M - clockwork08:47:01 - 19 Oct 2018 [UTC]

they would make it harder for BTS price to rise

nutela08:47:11 - 19 Oct 2018 [UTC]

But isn't that a feedback loop?

Kevin08:47:18 - 19 Oct 2018 [UTC]

nut3l4

So lower price of BTS

Naturally because there's a lot of selling pressure at the moment.

Alex M - clockwork08:47:19 - 19 Oct 2018 [UTC]

nut3l4

But isn't that a feedback loop?

yes

nutela08:47:28 - 19 Oct 2018 [UTC]

I'd raise MCR to 200%

Alex M - clockwork08:47:45 - 19 Oct 2018 [UTC]

nut3l4

I'd raise MCR to 200%

youd have even more price suppresion then

nutela08:47:46 - 19 Oct 2018 [UTC]

Tight peg sure but more safety.

George (Bitspark)08:47:53 - 19 Oct 2018 [UTC]

clockworkgr

possibly...that's the big question ...whether the peg is more important

The point of what I’m saying is you cannot know what the peg should be at any point in time that’s for the market to decide. Witnesses are artificially trying to manipulate why they think the peg should be

Alex M - clockwork08:47:54 - 19 Oct 2018 [UTC]

nut3l4

Tight peg sure but more safety.

not even close

Alex M - clockwork08:48:02 - 19 Oct 2018 [UTC]

George_Bitspark

the peg is 1:1

Alex M - clockwork08:48:12 - 19 Oct 2018 [UTC]

thats the idea behind a stablecoin

Alex M - clockwork08:48:19 - 19 Oct 2018 [UTC]

its not supposed to be an investment vehicle

Alex M - clockwork08:48:35 - 19 Oct 2018 [UTC]

small variations are ok

Alex M - clockwork08:48:41 - 19 Oct 2018 [UTC]

but we had 10-20% swings

George (Bitspark)08:48:46 - 19 Oct 2018 [UTC]

clockworkgr

the peg is 1:1

The peg is 1:1 and sometimes the market is willing to pay 1.01 and that’s fine

Alex M - clockwork08:49:06 - 19 Oct 2018 [UTC]

George_Bitspark

The peg is 1:1 and sometimes the market is willing to pay 1.01 and that’s fine

if it was 1.01 we wouldnt be having this discussion...feed adjustments woudl eb minimal

nutela08:49:25 - 19 Oct 2018 [UTC]

clockworkgr

its not supposed to be an investment vehicle

Ok and there are no dividends for holding

George (Bitspark)08:49:31 - 19 Oct 2018 [UTC]

Could be 1.05. Whatever the demand / supply dictates

Alex M - clockwork08:49:42 - 19 Oct 2018 [UTC]

George_Bitspark

Could be 1.05. Whatever the demand / supply dictates

no longer a stablecoin

George (Bitspark)08:50:12 - 19 Oct 2018 [UTC]

clockworkgr

no longer a stablecoin

Is a stablecoin as it’s responding to demand. If everyone wants bitusd it stands to reason it should have a premium

George (Bitspark)08:50:27 - 19 Oct 2018 [UTC]

But people could only redeem it for 1:1 so it doesn’t make sense long term.

George (Bitspark)08:50:38 - 19 Oct 2018 [UTC]

But that’s fine. If the market wants to pay that, let them

Alex M - clockwork08:51:34 - 19 Oct 2018 [UTC]

yes...but it's useless as a stablecoin

Alex M - clockwork08:52:10 - 19 Oct 2018 [UTC]

and since we cant control supply by printign more

Alex M - clockwork08:52:19 - 19 Oct 2018 [UTC]

(unliek tether)

nutela08:52:20 - 19 Oct 2018 [UTC]

George_Bitspark

Is a stablecoin as it’s responding to demand. If everyone wants bitusd it stands to reason it should have a premium

Huh, that’s totally wrong if you ask me.. the underlying BTS price should be fluctuating more.

Alex M - clockwork08:52:49 - 19 Oct 2018 [UTC]

we need a different way of ensuring the peg

nutela08:52:52 - 19 Oct 2018 [UTC]

clockworkgr

and since we cant control supply by printign more

Wait, bitUSD is fixed supply? How can that work?

nutela08:52:57 - 19 Oct 2018 [UTC]

It’s a smartcoin

Alex M - clockwork08:53:31 - 19 Oct 2018 [UTC]

nut3l4

Wait, bitUSD is fixed supply? How can that work?

it's not...but you need to borrow it into existence

Alex M - clockwork08:53:39 - 19 Oct 2018 [UTC]

by tying up BTS

nutela08:53:49 - 19 Oct 2018 [UTC]

clockworkgr

it's not...but you need to borrow it into existence

Yeah with 175% collatoral

Alex M - clockwork08:54:04 - 19 Oct 2018 [UTC]

one way to incentivise vorrowing

Alex M - clockwork08:54:06 - 19 Oct 2018 [UTC]

borrowing

Alex M - clockwork08:54:13 - 19 Oct 2018 [UTC]

is lowering collateral requirements

nutela08:54:25 - 19 Oct 2018 [UTC]

Of course...

Alex M - clockwork08:54:26 - 19 Oct 2018 [UTC]

which is the current effect

nutela08:54:31 - 19 Oct 2018 [UTC]

But it is not safe

nutela08:54:45 - 19 Oct 2018 [UTC]

Look you can’t compete on price

Alex M - clockwork08:54:50 - 19 Oct 2018 [UTC]

who knows

George (Bitspark)08:54:56 - 19 Oct 2018 [UTC]

clockworkgr

yes...but it's useless as a stablecoin

Nope as long as you can redeem for 1:1 it’s a stablecoin. Eg force settle

nutela08:55:06 - 19 Oct 2018 [UTC]

If a bank gives you a loan..it’s just printed money

Alex M - clockwork08:55:18 - 19 Oct 2018 [UTC]

George_Bitspark

Nope as long as you can redeem for 1:1 it’s a stablecoin. Eg force settle

thats just one side of the peg

nutela08:55:30 - 19 Oct 2018 [UTC]

You can’t compete with fractional reserve while being more than full reserve yourself

nutela08:57:38 - 19 Oct 2018 [UTC]

So they only thing you can offer is store of value, stable coins or some other incentives like dividends.. and I’m sure George has lot’s more 😉

nutela08:58:40 - 19 Oct 2018 [UTC]

I really like the borrowing idea, but it would be more safe with atomic cross chain transactions.. 🤔 depending on the amount.. because OL will be surely much safer than any of your peers…?

nutela09:03:42 - 19 Oct 2018 [UTC]

Looks really reliable.. 😱

מX

מ0ר Xanoxt de Canzaparca09:05:44 - 19 Oct 2018 [UTC]

Hm&

nutela09:06:31 - 19 Oct 2018 [UTC]

But only.. ClockWork.. suspicious😂

Alex M - clockwork09:07:03 - 19 Oct 2018 [UTC]

im not feeding USD anymore

Alex M - clockwork09:07:09 - 19 Oct 2018 [UTC]

chickened out

Alex M - clockwork09:07:31 - 19 Oct 2018 [UTC]

doesnt mean i dont appreciate the BSIP42 reasoning...

R09:07:41 - 19 Oct 2018 [UTC]

nut3l4

Looks really reliable.. 😱

Ooft.. Global settlement would honestly be more preferable than faking bts' price like this.

nutela09:07:43 - 19 Oct 2018 [UTC]

Yeah right 🤔

nutela09:08:24 - 19 Oct 2018 [UTC]

cmmob

Ooft.. Global settlement would honestly be more preferable than faking bts' price like this.

So all the whales would be reset?

R09:08:38 - 19 Oct 2018 [UTC]

What we really need is for btc to flash crash $2-3k for a week or so, removing gambler influence 👍

Alex M - clockwork09:08:41 - 19 Oct 2018 [UTC]

fwiw , MCR is percentage based

nutela09:08:49 - 19 Oct 2018 [UTC]

Could you become a new whale when you came with a lot of $$?

R09:09:16 - 19 Oct 2018 [UTC]

nut3l4

So all the whales would be reset?

Yep, bring on the next generation of whales 🤣

Alex M - clockwork09:09:28 - 19 Oct 2018 [UTC]

peopel who don't look after their collateral wouldnt have done so with or without BSIP42

nutela09:09:46 - 19 Oct 2018 [UTC]

cmmob

Yep, bring on the next generation of whales 🤣

Well so you are saying in other words DPOS doesn’t work

R09:10:00 - 19 Oct 2018 [UTC]

nut3l4

Well so you are saying in other words DPOS doesn’t work

Not what I'm saying at all.

Alex M - clockwork09:10:10 - 19 Oct 2018 [UTC]

maybe not 1.35...but we'd still be pretty low...

nutela09:10:15 - 19 Oct 2018 [UTC]

cmmob

Not what I'm saying at all.

OK, but that’s the conclusion anyone will make.

nutela09:10:39 - 19 Oct 2018 [UTC]

Really showing that I’m right 😂

R09:10:51 - 19 Oct 2018 [UTC]

nut3l4

OK, but that’s the conclusion anyone will make.

Then they'll miss out on a good buy opportunity 😜

nutela09:10:52 - 19 Oct 2018 [UTC]

OK that’s not very scientific I know

nutela09:11:13 - 19 Oct 2018 [UTC]

cmmob

Then they'll miss out on a good buy opportunity 😜

So you __do__ agree 😏

R09:11:36 - 19 Oct 2018 [UTC]

nut3l4

So you do agree 😏

No. Price fluctuations don't correlate with dpos failure.

nutela09:11:49 - 19 Oct 2018 [UTC]

cmmob

No. Price fluctuations don't correlate with dpos failure.

I was talking about whales

nutela09:12:24 - 19 Oct 2018 [UTC]

Because if something is not working you have to blame it on some one 😉 Not on the market 😉

Alex M - clockwork09:14:06 - 19 Oct 2018 [UTC]

nut3l4

Because if something is not working you have to blame it on someone 😉 Not on the market 😉

human nature...dont make it right

nutela09:15:14 - 19 Oct 2018 [UTC]

clockworkgr

human nature...dont make it right

I’m joking right 😄

nutela09:15:20 - 19 Oct 2018 [UTC]

But there’s truth in it

nutela09:16:06 - 19 Oct 2018 [UTC]

You can either say someone doesn’t do a good job or be all friends and never ever changes anything

R09:17:40 - 19 Oct 2018 [UTC]

nut3l4

You can either say someone doesn’t do a good job or be all friends and never ever change anything

What? Man heavy conversation derailment into nonsense.

nutela09:17:58 - 19 Oct 2018 [UTC]

@cmmob is trying to write something for hours and then this 😂

R09:18:23 - 19 Oct 2018 [UTC]

nut3l4

@cmmob is trying to write something for hours and then this 😂

It's too early.. I need coffee before this hahah

nutela09:18:31 - 19 Oct 2018 [UTC]

cmmob

What? Man.. heavy conversation derailment into nonsense.

For you nonesense for me just saying why isn’t it fixed already

nutela09:18:52 - 19 Oct 2018 [UTC]

cmmob

It's too early.. I need coffee before this hahah

It’s been 11 o’clock

nutela09:18:59 - 19 Oct 2018 [UTC]

Coding late again? 😉

R09:20:28 - 19 Oct 2018 [UTC]

nut3l4

For you nonesense for me just saying why isn’t it fixed already

It won't be fixed until people vote against bsip42 or there's a global settlement

nutela09:20:38 - 19 Oct 2018 [UTC]

Well, I’d like to dive into this but I’m not sure on my ROI.. and I have other things to do but yet I’m a little bit wasting my time with discussions

nutela09:20:58 - 19 Oct 2018 [UTC]

cmmob

It won't be fixed until people vote against bsip42 or there's a global settlement

But that means there was no problem to begin with

R09:24:32 - 19 Oct 2018 [UTC]

nut3l4

But that means there was no problem to begin with

Premiums on smart coins aren't a problem imo. Only if it trades below its value is there cause for serious concern. If people want it below the premium then they should borrow it into existence themselves. Like cex which support smartcoins and bts should offer the ability to borrow them using bts directly from their cex ui - bringing bts back to the dex and solving their own liquidity problem. People do disagree on the definition of smartcoins though, hence bsip42

Alex M - clockwork09:24:48 - 19 Oct 2018 [UTC]

cmmob

It won't be fixed until people vote against bsip42 or there's a global settlement

I'm tempted to think that conditions under which we reach GS

Alex M - clockwork09:24:58 - 19 Oct 2018 [UTC]

would cause a GS under non bsip42 feeding too

nutela09:25:01 - 19 Oct 2018 [UTC]

Anyway I don’t like bitching but I really feel like life’s unfair when I see things like TUSD and others fly off.. while BitShares stays on the ground.. I’ts like DPOS always had questionable arguments which in the end always seem to be true in a way.. I think it works fine most of the time until you come to an equilibrium point where it’s good enough for the majority stake holders. Or worse, there’s disproportionate distrubution of stake..

nutela09:25:56 - 19 Oct 2018 [UTC]

cmmob

Well if you want it to be stable but have to by some extra costs is what you mean? That’s ok with me.

nutela09:26:10 - 19 Oct 2018 [UTC]

But not have price premiums like it would be a stable coin anymore.