creon | 2015-03-01 23:54:41 UTC | #1

## Introduction ##

I want to propose providing a small dual-side liquidity. Being very new in this community I understand that trust is a concern, and therefore the reward will obviously be paid after the successful completion of the task. I would also be willing to provide @JordanLee with a proof of my funds or personal information if it is required.

## Technical setup ##

The technical installation will be a Raspberry Pi that will run 24/7 with a stable internet connection. Only nud and the NuBot are running on thew device. I successfully tested a NuBot on excoin, so I expect to be able to start my operation very quickly. I have a strong technical background and feel confident to be able to operate (and troubleshoot) the NuBot in an adequate way.

## Proposal ##

Proposal RIPEMD160 hash: **<calculatedcustodialhash>cae8efc29890da34ec00f0cd7c6d89a42b424e12</calculatedcustodialhash>**

<custodianhash><p><code>=##=##=##=##=##=## Custodian Hash starts with this line ##=##=##=##=##=##=</code></p><p><blockquote><p>Custodial Address: <strong><custodialaddress>BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk</custodialaddress></strong><br>Amount Requested: <strong><custodialamount>1</custodialamount> NBT</strong></p></blockquote></p><p><custodialproposal><p>If elected, I will deposit 5,000 NBT on a selected exchange and operate the NuBot in dual side mode over a period of 30 days. The reward should be paid in NBT and depends on the market, which will be selected after the election of this proposal. I request 10% (500 NBT) for BTC markets and 15% (750 NBT) for any altcoin market. If the market will be a BTC market, then I will deposit an equivalent of 5,000 NBT in the form of BTC on the chosen exchange and start the operation on the BUY side of the NBT market. If the market will be an altcoin market, then I will deposit 2,500 NBT and an equivalent of 2,500 NBT in the form of the altcoin on the chosen exchange and start the operation on the BUY and SELL side of the NBT market. At the end of the 30 day term I will provide a report of all trading activity.</p><br></custodialproposal></p><p><code>=##=##=##=##=##=## Custodian Hash ends with this line ##=##=##=##=##=##=</code></p></custodianhash>

<p><h5><a href="https://discuss.nubits.com/raw/1268">Verify.</a> Use everything between and including the &lt;custodianhash&gt;&lt;/custodianhash&gt; tags.</h5></p>

## Custodial Grant Passed ##

The grant passed on Feb 26th at block 241230. Thank you! There were some unexpected problem with submitting liquidity information from the Raspberry Pi, but these problems are solved now and all subsequent tests were successful.

## Operation Schedule ##

The operation will officially start on March 2nd 0:01 UTC and end on June 1st 0:01 UTC. Down-times will of course be appended to the end time, but I am confident that it will be very stable.
Liquidity will be provided on [bitcoin.co.id][1] and I start the operation with an equivalent of 5,000 NBT as BTC on the buy side of the order book, since Nu's buy side liquidity is smaller than its sell side liquidity. But I am open for discussions about this and can also transform some of the BTC funds into NBT.

<img src="/uploads/default/579/e6c8e6b056161d06.png" width="690" height="119"> 

**HAPPY TRADING**


  [1]: https://vip.bitcoin.co.id/nbtbtc

-------------------------

tomjoad | 2015-01-27 21:20:27 UTC | #2

[quote="creon, post:1, topic:1268"]
The reward should be paid in NSR and depends on the operation
[/quote]

It's my understanding that NSR rewards coming directly from Jordan Lee have expired and will no longer be offered. Will you consider an NBT bonus instead, and simply purchase the equivalent amount of NSR at the end of the period?

-------------------------

creon | 2015-01-27 21:21:28 UTC | #3

[quote="tomjoad, post:2, topic:1268"]
Will you consider an NBT bonus instead
[/quote]

Oh yes, of course. I'll change that in the OP. Thanks.

-------------------------

cryptog | 2015-01-28 02:16:48 UTC | #4

Looking forward to your proposal.

-------------------------

desrever | 2015-01-28 09:27:50 UTC | #5

I can endorse this proposal.

[quote="creon, post:1, topic:1268"]
I successfully tested a nubot on excoin,
[/quote]

Which version of NuBot did you run?

I also would love to start seeing some more enduring proposals, or at least some opening to "what happens after one month" .   And do not forget to bounce around exchanges trying to educate and persuade them to adopt nubits  :)

-------------------------

creon | 2015-01-28 09:55:43 UTC | #6

[quote="desrever, post:5, topic:1268"]
Which version of NuBot did you run?
[/quote]

NuBot v0.1.4c and nud v0.5.3-RC2-beta. Getting the nubot to run was straight forward, the Raspbian distro comes with everything that is needed. Only nud requires some packages and the manual compilation of the right miniupnc, but I assume that this will be easier in future.

[quote="desrever, post:5, topic:1268"]
I also would love to start seeing some more enduring proposals
[/quote]

I never did this before, and therefore I see this operation as an experiment. If everything works out as intended then I can imagine making proposals for a longer period of time.

-------------------------

creon | 2015-01-31 14:21:15 UTC | #7

Any an idea what we could do out of this? I see there are three non-BTC markets on excoin, PPC, BLK and LTC. I could imagine providing liquidity for one of those. There is also a PPC market on CCEDK, but there seems to be a bot serving it.

I'd really appreciate some discussion on that, because if I choose pairing which is unlikely to be voted on then everything will be delayed. Another idea would be that I make one proposal for each pairing and take the first one that passes, while all others become void. Or is there another way to propose more than two exclusive options to the shareholders?

-------------------------

cryptog | 2015-02-02 01:51:20 UTC | #8

Good questions. I have made this thread: https://discuss.nubits.com/t/which-exchange-needs-buy-side-support-on-which-pair/1319

-------------------------

desrever | 2015-02-02 09:53:10 UTC | #9

[quote="creon, post:7, topic:1268"]
if I choose pairing which is unlikely to be voted on then everything will be delayed
[/quote]

I tent to suggest that first you get elected, and when we can solve the problem of finding the best pair. The whole liquidity is very fluid and changes from one day to another.

-------------------------

creon | 2015-02-02 13:22:12 UTC | #10

@desrever OK, if you say so ... then I will make a proposal asking for a general pairing decided after the election with 10% reward on BTC markets and 15% reward on any altcoin market. Should I make a new thread or just modify the OP?

-------------------------

cryptog | 2015-02-02 14:50:55 UTC | #11

Same thread should be fine if you write a proposal and get a hash with assistant bot, and if you do not modify the content of the text hashed afterwards, I guess.

-------------------------

creon | 2015-02-03 18:50:22 UTC | #12

OK, I just changed the OP now. Please let me know asap if you see any problems.

-------------------------

cryptog | 2015-02-04 03:42:25 UTC | #13

My understanding is that you would need to start on the buy side, providing bitcoins for example.
As for the hash, I cannot verify it. Can you message assistant and then create a hash with "custodian hash [text]"?

-------------------------

Cybnate | 2015-02-04 09:05:10 UTC | #14

A good candidate to add to my [datafeed][1]. Actively supporting liquidity offers. 10% fee for 30 days (in BTC market dual side) is a reasonable fee imo, but still hoping for more competition. Will wait till hash is verifiable and add later to my datafeed.


  [1]: https://discuss.nubits.com/t/cybnates-datafeed-beta/1310

-------------------------

cryptog | 2015-02-04 09:54:32 UTC | #15

Yes it is also a strong candidate in my datafeeds but I d like to know how the funds will start...on the buy side or the sell side and in what currency?

-------------------------

creon | 2015-02-04 12:11:06 UTC | #16

[quote="cryptog, post:13, topic:1268"]
My understanding is that you would need to start on the buy side, providing bitcoins for example.
[/quote]

Good point. I thought about these conditions:

If the market is a BTC market, I will deposit an equivalent of 5,000 NBT in the form of BTC on the chosen exchange and start the operation on the BUY side of the NBT market.

If the market is an altcoin market, I will deposit 2,500 NBT and an equivalent of 2,500 NBT in the form of the altcoin on the chosen exchange and start the operation on the BUY and SELL side of the NBT market.

The reason for the different partitioning is that I don't know the altcoin yet and the lack of liquidity could make it hard to acquire large amounts of it.

EDIT: I added it to the proposal text.


[quote="Cybnate, post:14, topic:1268"]
Will wait till hash is verifiable and add later to my datafeed.
[/quote]

@woolly_sammoth I am also not able to reproduce the hash. This is what I PM'd to assistant:

>custodian hash BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk 1 If elected, I will deposit 5,000 NBT on a selected exchange and operate the NuBot in dual side mode over a period of 30 days. The reward should be paid in NBT and depends on the market, which will be selected after the election of this proposal. I request 10% (500 NBT) for BTC markets and 15% (750 NBT) for any altcoin market. At the end of the 30 day term I will provide a report of all trading activity.

If I hash the text provided by assistant then I get 8e20201614a4076a54f07bc13b8981ccaf20753b when using line feeds and 4b9b3c63ff003d60955a3236b4d76102644129a0 when using carriage returns.

-------------------------

creon | 2015-02-04 12:09:54 UTC | #17

OK I modified the proposal text so it contains the answer to @cryptog's question. The hash, again, shows what the assistant bot gave me, copy/pasted to this thread. If I hash the text pasted above including the "=##=##=" lines I get:

b6df573b4a77a55be6c6518c283c9b7f7dfaa25c with carriage returns
2c2ace74b9790bae26da57ecc0b944e9738c4bc7 with line feeds

Can anyone confirm one of these hashes?

-------------------------

woolly_sammoth | 2015-02-04 12:11:45 UTC | #18

Hi @creon.
you need to click the 'verify' link at the bottom of the reply from assistant.
copy all the raw text you see into the new post.

To verify the hash yourself you need to copy the text in the middle paragraph which starts with <custodianhash> and ends with </custodianhash>

By using the html tags to denote start, end and line breaks,w e can get consistent reults.

-------------------------

creon | 2015-02-04 12:15:43 UTC | #19

Thanks a lot. I updated the OP and with the new formatting I was able to reproduce the hash.

-------------------------

woolly_sammoth | 2015-02-04 12:20:38 UTC | #20

that worked.
I have seen an issue in the verify link though. it is trying to point to the raw version of your private message instead of the first post here. I'll have to think about how best to display that . It worked in my testing as I was logged in as me and could view my own private messages (funny that)

for now. the verifcation link should link to https://discuss.nubits.com/raw/1268

-------------------------

creon | 2015-02-04 12:23:44 UTC | #21

[quote="woolly_sammoth, post:20, topic:1268"]
the verifcation link should link to https://discuss.nubits.com/raw/1268
[/quote]

OK, I hacked the correct link into the OP.

-------------------------

cryptog | 2015-02-05 11:09:22 UTC | #22

hash verified. cae8efc29890da34ec00f0cd7c6d89a42b424e12

-------------------------

woolly_sammoth | 2015-02-04 12:26:02 UTC | #23

Thanks. I may have to add it as a step for the OP in the steps for creating a new motion/proposal as I don't know how Assistant can create the link without knowing which topic it is going to be pasted into.
it's a pain though as I really wanted the process to be as easy as possible without lots of hoops to jump through. 
I'll have a think.

-------------------------

cryptog | 2015-02-05 02:52:44 UTC | #24

[quote="creon, post:1, topic:1268"]
If the market will be an altcoin market, then I will deposit 2,500 NBT and an equivalent of 2,500 NBT in the form of the altcoin on the chosen exchange and start the operation on the BUY and SELL side of the NBT market
[/quote]

Just one question before voting. Why do you divide up into 2500nbt on the buy side and 2500nbt on the sell side if the pair is NBT/alt?

-------------------------

creon | 2015-02-05 09:56:04 UTC | #25

[quote="cryptog, post:24, topic:1268"]
Just one question before voting. Why do you divide up into 2500nbt on the buy side and 2500nbt on the sell side if the pair is NBT/alt?
[/quote]

I explained it in the same post:

[quote="creon, post:16, topic:1268"]
The reason for the different partitioning is that I don't know the altcoin yet and the lack of liquidity could make it hard to acquire large amounts of it.
[/quote]

-------------------------

cryptog | 2015-02-05 10:42:16 UTC | #26

right sorry for reasking.

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cryptog | 2015-02-05 11:01:28 UTC | #27

voted.

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cryptog | 2015-02-05 11:05:08 UTC | #28

@assistant custodian vote BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk

-------------------------

assistant | 2015-02-05 11:05:12 UTC | #29

Hi @cryptog

Here are the details for the Custodian Vote on BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk:


----------
##[BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk][1]
[1]: https://discuss.nubits.com/t/proposal-small-dual-side-liquidity-for-currently-uncovered-pair
###1.00 NBT.
**Blocks**:  8  (``0.080000%``)
**Share Days**:  1726829  (``0.056574%``)


----------

<p><h2>Introduction</h2>

<p>I want to propose providing a small dual-side liquidity. Being very new in this community I understand that trust is a concern, and therefore the reward will obviously be paid after the successful completion of the task. I would also be willing to provide <a class="mention" href="/users/jordanlee">@JordanLee</a> with a proof of my funds or personal information if it is required.</p>

<h2>Technical setup</h2>

<p>The technical installation will be a Raspberry Pi that wil</blockquote></p>
<p><a href="https://discuss.nubits.com/t/proposal-small-dual-side-liquidity-for-currently-uncovered-pair"><strong>Read More</strong></a></p>

-------------------------

creon | 2015-02-05 11:06:42 UTC | #30

[quote="cryptog, post:27, topic:1268, full:true"]
voted.
[/quote]

Thank you. One last thing: I saw you verified the hash of the proposal text above. If you do that in custodial grants you also need to add the hash to your post, because its not observable on the blockchain and I could change text and hash at any time.

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cryptog | 2015-02-05 11:09:38 UTC | #31

right. hash added after reverification.

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crypto_coiner | 2015-02-05 13:09:58 UTC | #32

Verified and voted

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assistant | 2015-02-05 13:05:35 UTC | #33

[quote="crypto_coiner, post:32, topic:1268"]Verified and votes[/quote]Who are you voting for?

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crypto_coiner | 2015-02-05 13:10:15 UTC | #34

BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk

1.00 NBT.

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assistant | 2015-02-05 13:10:38 UTC | #35

[quote="crypto_coiner, post:34, topic:1268"]BPuTsT9FiDLSDihCHxzaieVXoksXqoffHk

1.00 NBT.[/quote]Ask me a question.

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seki | 2015-02-05 14:48:28 UTC | #36

That A.I. scares me a bit :smile:
voted

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crypto_coiner | 2015-02-05 15:21:47 UTC | #37

What is the nubit address for that proposal?

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assistant | 2015-02-05 15:22:01 UTC | #38

[quote="crypto_coiner, post:37, topic:1268"]What is the nubit address for that proposal?[/quote]Only the individual knows the reason to love someone else. Be that for personality or looks.

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tomjoad | 2015-02-07 06:47:47 UTC | #39

Voted. Unless other users offer proposals for a lower fee, we should be voting for all LPC proposals.

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mhps | 2015-02-07 08:08:32 UTC | #40

[quote="creon, post:7, topic:1268"]
Any an idea what we could do out of this? I see there are three non-BTC markets on excoin, PPC, BLK and LTC. I could imagine providing liquidity for one of those. There is also a PPC market on CCEDK, but there seems to be a bot serving it.
[/quote]


PPC / NBT would be good. The one on CCEDK is not working well. Maybe this will relief @KTm of some stress.

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cryptog | 2015-02-07 10:37:39 UTC | #41

Does the current version of NuBot accept several custodians on the same pair? If the answer is yes then NBT/BTC in any exchange should make it.

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creon | 2015-02-07 12:45:02 UTC | #42

[quote="cryptog, post:41, topic:1268"]
Does the current version of NuBot accept several custodians on the same pair?
[/quote]

Its in development, but will probably not be available during this operation. I think this feature will boost recruiting LP's greatly, because even smaller amounts than what I provide here will be able to participate in the operations.

[quote="mhps, post:40, topic:1268"]
PPC / NBT would be good. The one on CCEDK is not working well.
[/quote]

Yeah sounds good. Would be interesting to know why it is not "working well" though.  There is also a PPC market on excoin which might attract some volume.  But in general you would think that PPC will be the most likeliest coin? Because then I should start accumulating them, since the proposal already passed 6% and rises quickly (Thanks a lot for that shareholders!)

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mhps | 2015-02-07 13:14:05 UTC | #43

[quote="creon, post:42, topic:1268"]
Would be interesting to know why it is not "working well" though.
[/quote]


I don't know why. But the symptom is [missing buy wall][1].


  [1]: https://discuss.nubits.com/t/ppc-nbt-buy-wall-on-ccedk-absent/1344?u=mhps

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mhps | 2015-02-08 04:54:50 UTC | #44

Getting NBT/BTC on cryptsy will also be good. Actually gets NBT on any exchange that bitcoinwisdom.com rebroadcast is good.

-------------------------

creon | 2015-02-08 05:02:09 UTC | #45

[quote="mhps, post:44, topic:1268"]
Getting NBT/BTC on cryptsy will also be good.
[/quote]

How is cryptsys opinion about Nu? Would they install the closed source daemon and use it over RPC?

Besides that I don't know if my 5,000 NBT would be sufficient to serve a high volume market like BTC on cryptsy. But if they agree on a NBT/BTC market with this amount of liquidity then why not.

-------------------------

mhps | 2015-02-08 05:50:21 UTC | #46

[quote="creon, post:45, topic:1268"]
How is cryptsys opinion about Nu? Would they install the closed source daemon and use it over RPC?
[/quote]


I think that is the major unknown here. There are 16 active exchanges re-broadcasted by bitcoinwisdom. If nubits get on any of them it is good.

[quote="creon, post:45, topic:1268"]
Besides that I don't know if my 5,000 NBT would be sufficient to serve a high volume market like BTC on cryptsy.
[/quote]

If you get 5,000 going and the demand is high, you might want to rebalance once a day per suggestion [here][1]. A very liquid market makes the wall off-balance quicker. 

You might also consider to put the 5000NBT on tight spread and get more NBTs on board with a wider spread (i.e. extra tiers in the order book) so that you have better chances to make profit when these orders are filled (keep in mind they are not guaranteed to make profit because they are also exposed to BTC prices). These extra NBTs are not part of your LPC obligation. 


  [1]: https://discuss.nubits.com/t/draft-proposal-to-continue-lpc-operation-on-poloniex-for-60-days/1381/6?u=mhps

-------------------------

cryptog | 2015-02-08 12:31:54 UTC | #47

[quote="mhps, post:46, topic:1268"]
You might also consider to put the 5000NBT on tight spread and get more NBTs on board with a wider spread (i.e. extra tiers in the order book)
[/quote]

I was wondering about that. One might not be able to hedge his or her bitcoin downtrend exposure when support NBT/BTC but it could be counterbalanced by a wider spread. So I would suggest LPCs to make proposals involving a wider spread that the current 0.2%.

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willy | 2015-02-10 00:17:17 UTC | #48

[quote="creon, post:45, topic:1268"]
How is cryptsys opinion about Nu?
[/quote]

I did not manage to get more than their standard "we will forward your suggestion to our dev-team" answer.

Cryptsy uses paid coin voting, in which we tried to participate [here.][1]


  [1]: https://discuss.nubits.com/t/action-coin-vote-on-cryptsy/694

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creon | 2015-02-10 00:31:37 UTC | #49

These exchange coin votings are usually controlled by market manipulators and only serve as money printing machine for the exchange owners. A coin gets added if it makes money and it makes money if it has volume ... NBT has volume so there should be sufficient interest without need to bribe them.

I'd suggest to wait for the outcome of the open source motion and then to contact them again, and to show them the NBT volume over the last weeks and possibly announce the upcoming source release. There has to be some reason why an exchange like cryptsy is not excited to add NBT.

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creon | 2015-02-21 02:05:58 UTC | #50

Shameless bump. I know its not much that I offer, but I think we could use it right now and I can be operational within three working days.

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cryptog | 2015-02-21 05:20:57 UTC | #51

[quote="creon, post:50, topic:1268"]
know its not much that I offer
[/quote]

I think at this stage any liquidity offered is welcome.
What exchange would you use btw?

-------------------------

Cybnate | 2015-02-21 05:34:37 UTC | #52

Won't be long before your grant passes looking at the blockexplorer. Give it another 2-3 days.
I'm voting for it and it is in my [datafeed][1]


  [1]: https://discuss.nubits.com/t/cybnates-datafeed-beta/1310

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creon | 2015-02-21 11:49:08 UTC | #53

That still has to be determined. Originally I had excoin in my mind, but things changed a lot the past weeks. I'd almost suggest to use the 5,000 NBT for a NBT/BTC pairing because besides fiat pairings those are the most important ones right now.

-------------------------

creon | 2015-02-25 12:12:56 UTC | #54

This proposal is approaching the required amount of votes and I assume it to be passed until the end of the week. So, let's try to finalize things so I can start the operation as soon as possible.

In my personal opinion a BTC pairing would be more appropriate in our current situation, but I am open for a discussion if an alt coin would be better. The uncovered BTC pairings I found are NBT/BTC on CCEDK and NBT/BTC on ALTS.Trade. What are your thoughts?

The only remaining problem then is that, as mentioned in the OP, the bot and the Nu daemon will run on a Raspberry Pi. Unfortunately there is no v0.5.4 Nu daemon for ARM yet, and we are encouraged not to run older client versions. Therefore I will wait for @CoinGame to publish a binary except if the developers say that it is ok to operate with the old client.

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CoinGame | 2015-02-25 12:53:03 UTC | #55

Working on it. Expect it today.

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woolly_sammoth | 2015-02-25 15:30:47 UTC | #56

The Alts.Trade wrapper for Nubot is a work in progress so that limits your choices of pairs. I will be working on it over the coming days. once it's done we could add it into the current Nubot as a hotfix.

-------------------------

creon | 2015-02-25 16:18:45 UTC | #57

OK, then not Alts.Trade. I just saw "Bitcoin Indonesia" on coinmarketcap. Do we have NuBot support for them?

EDIT: Just to make this clear, this is nothing against CCEDK and of course I would operate there. I am only trying to get all the options together.

-------------------------

woolly_sammoth | 2015-02-25 16:35:57 UTC | #58

We do have a wrapper for Bitcoin.co.id so that would be another option. I know that @bitcoincoid is eager for a custodian to start trading there.

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cryptog | 2015-02-26 07:20:07 UTC | #59

This LPC proposal custodian vote has passed.

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woolly_sammoth | 2015-02-26 13:30:17 UTC | #60

Good stuff @creon. Now that there is an ARM binary for 0.5.4 do you have everything you need to begin  custodianship? Did you decide which exchange and pair you will be covering? If you need any assistance with NuBot please ask.

-------------------------

creon | 2015-02-26 14:28:03 UTC | #61

This is great, thank you very much shareholders! To be honest it passed a little faster than expected, because it didn't increase much over the last weeks. The grant passed on block 241230.

I checked Bitcoin.co.id and they look like a very nice opportunity to bring NBT to this area. It struggles me a little bit that an intensive amount of personal information is required to register on that exchange, including passport ID etc. Data I generally don't like being stored in databases that are connected to the internet. @bitcoincoid, is there a way around this since I am not dealing with any fiat market?

Otherwise I can also start my operation on CCEDK and I assume that it will be very easy to set up. My plan is to operate the bot for 24-48 hours with very small amounts and many interruptions before I start my actual operation. This is to ensure that my scripting framework works as intended and that I can test some scenarios where the bot will not behave as expected ( @woolly_sammoth, for example, I was not able to receive an e-mail from the bot so far and am also not even sure how it is sent internally).

So, to make a realistic proposal that allows for some initial troubleshooting I say that I will start the real operation on Monday, 0:01 am UTC. If everything is perfect on Friday, then I will start earlier.

This is the last chance for you to propose an exchange and a pairing. Without further input I will await an answer from @bitcoincoid until tomorrow, and then post if it is CCEDK or Bitcoin.co.id. I will update the OP once the details are set.

-------------------------

tomjoad | 2015-02-26 17:36:20 UTC | #62

[quote="creon, post:61, topic:1268"]
Otherwise I can also start my operation on CCEDK and I assume that it will be very easy to set up.
[/quote]

Given the current non-communication coming from CCEDK regarding some withdrawals, it may be wise to make contingency plans for other exchanges. Bitcoin.co.id would be a great opportunity I agree, as would upcoming exchanges like Bittrex.

-------------------------

creon | 2015-02-26 17:43:19 UTC | #63

Well I would prefer to have a bigger fish than me on Bittrex because I think they could become the new major volume exchange. I messaged @bitcoincoid about some details and agree that it would be a good candidate for the amount of liquidity I will provide.

-------------------------

bitcoincoid | 2015-02-27 06:10:06 UTC | #64

hi @creon

Please check your private message.  Thank you :smile:

-------------------------

creon | 2015-02-27 13:53:12 UTC | #65

Just wanted to report back that I am currently starting my tests on Bitcoin.co.id and hope to be ready to start the operation on Sunday. Since no objections were made by the shareholders, I will provide liquidity for 30 days for the NBT/BTC market on Bitcoin.co.id.

-------------------------

creon | 2015-03-01 14:18:57 UTC | #66

The (slightly modified) NuBot now successfully runs for 12 hours on bitcoin.co.id and submits liquidity (its only 0.1 BTC that is there). Everything is looking great and I see no reason to delay my proposed start at 0.01 am UTC tomorrow.

Would be nice if someone could move this thread to the "Custodial Grant Passed" subforum.

-------------------------

creon | 2015-03-01 23:57:45 UTC | #67

The operation officially starts in 5 minutes (liquidity is already there) and I updated the OP with further information.

-------------------------

CoinGame | 2015-03-02 12:28:44 UTC | #68

Is the bot down?

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creon | 2015-03-02 12:49:15 UTC | #69

No, was it? Just checked the exchange and the order is there. I also received the last email from the bot 10 minutes ago so everything appears to be fine.

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CoinGame | 2015-03-02 13:08:27 UTC | #70

Oh sorry. I'm not very familiar with their site. I must have been reading the orders wrong.

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creon | 2015-03-04 13:15:35 UTC | #71

The trading activity is comparably low so far. Thanks to the price increase of BTC I could transform some of the funds into NBT without violating the proposal to provide 5,000 NBT initially as buy side liquidity. I hope that this + the reintroduction of the NBT markets mentioned by @bitcoincoid will help to attract more traders.

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bitcoincoid | 2015-03-06 11:20:10 UTC | #72

We just broadcast nubits reintroduction few hours ago. We mention about nubits finally have custodian in our market. I will try to keep monitor how it looks like in the next few hour.

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creon | 2015-03-06 18:54:01 UTC | #73

I think what we need are some NuBits over there. Each time I am transferring some NBT to your exchange they are sold out soon after that. There were even NBT buy orders above 1 USD value temporarily.

The thing is that I promised to start with a buy side liquidity, so am not able to simply transform half of the funds into NBT without breaking this promise. So I'd like to encourage everyone who is interested to send some NBT there - you'll probably be able to sell them at a very good price with 0% trading fee.

EDIT: Besides that it is nice to see that the volume increased x10 over the last days, with 363 NBT over the last 24 hours.

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cryptog | 2015-03-07 06:44:11 UTC | #74

Very interesting. At this exchange there is more demand than offering.....Does it imply that the Indonesian trader sees a lot of potential in NuBits as a currency?

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Cybnate | 2015-03-07 08:22:53 UTC | #75

Maybe it is not only traders and hedgers, maybe they start using it as a currency as it was designed for.
I hope they can find the NuBits Android wallet as I understand that there are high numbers of mobile phones amongst the Indonesian people.

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creon | 2015-03-07 18:04:42 UTC | #76

[quote="cryptog, post:74, topic:1268"]
Does it imply that the Indonesian trader sees a lot of potential in NuBits as a currency?
[/quote]

Well its hard to make a statement about "Indonesian traders" after one week with less than 1 BTC daily trading volume ;)

To me it looks like not many of the users on bitcoin.co.id have accounts on other cryptocurrency exchanges and therefore only few take the opportunity provided by the arbitrage. I think once there are more NBT on the exchange for the traders "to work with", then we will also see more hedging.

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bitcoincoid | 2015-03-09 03:35:53 UTC | #77

[quote="creon, post:76, topic:1268"]
statement about "Indonesian traders" after one week with less than 1 BTC daily trading volume 

To me it looks like not many of the users on bitcoin.co.id have accounts on other cryptocurrency exchanges and therefore only few take the opportunity provided by the arbitrage. I think once there are more NBT on the exchange for the traders "to work with", then we will also see more hedging.
[/quote]

Hi Creon

It seems like now our exchange trading volume for Nubits is higher than Poloniex after we relaunch the Nubits :smile: 

1	AllCoin	NBT/BTC	$ 964	$ 1.00	34.86 %	Recently
2	Bitcoin Indonesia	NBT/BTC	$ 957	$ 1.02	34.62 %	Recently
3	Poloniex	NBT/BTC	$ 645	$ 0.994329	23.32 %	Recently

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cryptog | 2015-03-09 05:29:29 UTC | #78

Nice but it s still low volume...

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creon | 2015-03-09 07:05:03 UTC | #79

Right now the pegged price for 1 NBT is 0.003576 BTC and you can buy NBT at this price on poloniex. And also right now, you can sell ~500 NBT on Bitcoin.co.id for 0.003628 BTC each, because people are willing to pay much more than 1 USD to get NuBits. Why is nobody taking this opportunity?

I will rebalance the liquidity a little bit. I think this is in the interest of the shareholders.

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cryptog | 2015-03-09 10:38:12 UTC | #80

[quote="creon, post:79, topic:1268"]
Why is nobody taking this opportunity?
[/quote]

Apparently the gain would be 7NBT max....

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creon | 2015-03-09 16:50:37 UTC | #81

In the last 24 hours a problem began to appear that NBT sell orders cannot be submitted by the bot because the API thinks its LTC. At the current state I believe that the issue is on bitcoin.co.id's side (I messaged them already).

Right now the bot always starts, trys to submit the orders, then sees that something is wrong and deletes all orders, over and over again, so we cannot speak of "liquidity" that it is providing right now. I hope that we will be able to resolve this issue soon. The last day, and all upcoming days with broken functionality, will be appended to the term.

Sorry for the inconvenience.

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creon | 2015-03-10 13:57:31 UTC | #82

After some correspondence with Bitcoin.co.id they implemented the required field in the API object, which however just lead to another error. There indeed was another problem with the NuBot. @desrever @benjyz @woolly_sammoth I wanted to report this on bitbucket but there is no public issue tracker in the project, so I'll post it here:

Line 228 in `BitcoinCoIDWrapper.java` creates a number format string like "2,452.3455". The API simply doesn't like the comma as  separator. After removing it my NuBot now successfully submits sell orders of more than 1000 NBT.

The operation will be extended to June 3rd 0:01 UTC.

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woolly_sammoth | 2015-03-10 13:59:42 UTC | #83

Thanks for the spot creon. I'll make the update now.

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benjyz | 2015-03-10 14:32:55 UTC | #84

[quote="creon, post:82, topic:1268"]
I wanted to report this on bitbucket but there is no public issue tracker in the project,
[/quote]

AFAIK one only needs a Bitbucket account, but that should be all: https://bitbucket.org/JordanLeePeershares/nubottrading/issues

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creon | 2015-03-10 16:37:09 UTC | #85

[quote="benjyz, post:84, topic:1268"]
AFAIK one only needs a Bitbucket account, but that should be all:
[/quote]

No, I am getting "Access denied" when trying to open this link. I am logged and my username is creon-nu. There is also no "Issues" link in the navigation sidebar of the project page as it is usually the case on bitbucket projects.

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benjyz | 2015-03-11 09:20:23 UTC | #86

Right, the issue tracker is currently closed. I have suggested to open it up.

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bitcoincoid | 2015-03-12 11:18:15 UTC | #87

Yes, I hope global trader will also trading Nubits in our exchange soon :smile:

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creon | 2015-03-13 23:25:33 UTC | #88

For several hours now the API returns an http error when the balance is checked (`getInfo` POST call). The NuBot therefore does not place any order. This time I am pretty sure that its nothing with the NuBot. I hope we will be able to resolve the issue soon.

Sorry for the continuous interruptions - I hope that you see that the problems that arise are out of my control as a custodian and that I am doing everything possible to get the operation up again.

I'll report back when I got a reply from the Bitcoin.co.id (or if the issue just disappears). The NuBot is running, so if it just starts working again it will immediately place orders.

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creon | 2015-03-14 02:46:34 UTC | #89

Update:

The bot is working again. Bitcoin.co.id's private API was under maintenance and not fully accessible.

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creon | 2015-04-05 03:14:18 UTC | #90

Hi, sorry for the delay, the last time was quite busy with the pool development. However, now I finished the preparation of the trading data and can present it to you:

- 56,768 NBT were traded against my account
- 500 buys and 468 sells were performed (968 total trades)
- My average NBT buy price was 0.00386392 BTC
- My average NBT sell price was 0.00392589 BTC

The operation ended in a total win of 343.2604 NBT. Below you can see a visualization of the trading activity and the corresponding prices:

<img src="/uploads/default/645/9d80ba7591ca1a39.png" width="690" height="401"> 

<img src="/uploads/default/646/b18fd51aa13ffe71.png" width="690" height="401"> 

Let me know if you would like to see the whole list of trades - I just don't know right now where to upload it. It is difficult to explain why exactly my operation ended in a win. I could imagine that many traders on bitcoin.co.id flee into Rupia (which is the most traded BTC pair on the exchange) instead of NBT when the BTC price crashes. 

I think that I fulfilled the task as originally agreed with the shareholders. As a small plus I also made some minor fixes to the NuBot bitcoin.co.id wrapper such that future operations on this exchange should run much more smoothly. One of the little bugs also lead to a temporary downtime of the bot which I appended to the end date.


Regarding my compensation it would be nice if someone could point me to an example how this should be written. Just to restate, when I originally posted this proposal I was asking for NSR. @desrever then told me that this is not possible anymore. Now it appears to me that those things are encouraged again. Fact is that these NBT will be transformed into NSR, regardless in which way - if I can avoid doing this on an exchange then I would welcome this solution. If the amount is too small for this kind of grants, then I will just ask for my 500 NBT and get them converted somehow. Some input on that would be appreciated.

Thank you for your trust!

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Cybnate | 2015-04-05 05:26:14 UTC | #91

You asked for 500 NBT in your original grant. Also given the fact that Shareholders can't automatically distribute NSR (yet), I would request to vote for a custodial grant for the 500 NBT. And you know what? NBT are stable, always 500 dollar :sunny:

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creon | 2015-04-05 12:21:16 UTC | #92

Right, especially since I originally asked for NBT, asking for NSR now just would create trouble. Now I looked through the forum for some kind of reference but either I am too blind or there was no LPC operation with NBT grant so far, which wasn't compensated from the start.

So I assume I just create a new grant now about 499 NBT on the same (?) custodian address, is this correct?

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Cybnate | 2015-04-05 23:57:59 UTC | #93

[quote="creon, post:92, topic:1268"]
So I assume I just create a new grant now about 499 NBT on the same (?) custodian address, is this correct?
[/quote]
You need to create a new address. I'm sure the system can't provide a grant twice to the same address as it has already passed. Just refer to the old one in your new grant.

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CoinGame | 2015-04-06 00:06:37 UTC | #94

This is correct. Once a grant passes that address cannot be reused.

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desrever | 2015-04-06 07:19:54 UTC | #95

Thank you for the report !

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