Quote from: sportscliche on December 11, 2020, 12:47:14 AM

The BITUSD peg to the USD broke and to my knowledge has not recovered.

The bitUSD peg was broken, because gambler and scammer had control over the price feed in BitShares 3.0. With the governance update in BitShares 4.0 and 5.0 vote weight got removed from collateral positions.

Quote from: sportscliche on December 11, 2020, 12:47:14 AM

The last time I checked bitsharestalk there was a lot of in-fighting.

Fighting was because of governance updates, but fighting is now over.

Quote from: sportscliche on December 11, 2020, 12:47:14 AM

This points to the danger of blockchains that claim to have decentralized development, but really don’t.

We have decentralized development, which allows anyone to make contributions to BitShares.

Quote from: adamvp on December 23, 2020, 05:10:57 PM

It has recovered, but for very short time.
It was fake feed price, much above global settlement price set, and was not canceled, despite what devs promised to do it.

The margin positions where managed by each individual. Before the pump the lowest CR was at 1.5, after the pump the lowest CR was at 1.05.
On the one side, no one was willing to buy up the collateral at a higher fake price, on the other side the the price feed could not be lowered again, because the lowest CR was already at 1.05. Global settlement was the result on bitUSD. To close the demand of USD pegged coins, HONEST.USD and bitUSD1.0 was created and can be used on the exchange now.

BitCNY could be saved because the liquidity and CR was higher than on bitUSD.

benchb

Posts

Merits