The custodians have been in communication about steps that can be taken to limit our risk in the event of an exchange default or other form of malfeasance. The first step we can take is to limit the amount of shareholder granted NBT that can be lost at any one time while still providing the appropriate amount of liquidity on an exchange.
I (and others) will begin to reallocate our holdings to reduce exposure on CCEDK and BTER.
THIS ACTION IS NOT DUE TO ANY CONCERNS WITH CCEDK OR BTER, INDIVIDUALLY. Both exchanges have conducted themselves in a very professional manner. My reallocation should not be viewed as a lack of confidence in their leadership or security. These steps are being taken out of an aversion to risk, in general.
You will see a shift in the values reported by liquidityinfo in the very near future. I will provide a reporting of the “before” position and then provide additional information about the “after” position. The publicly visible addresses that I will be moving the NBT removed from the exchanges will be made available in that second report. I want to do this in the most transparent manner possible, so if a shareholder has questions, I will do my best to answer them.
I have completed the transactions to adjust liquidity on CCEDK. The liquidityinfo data being sent from CCEDK should now reflect the new rates. I will be moving funds on BTER next, and then providing an accounting of pre- and post-adjustment funds once that is completed.
Who is working to get NBT on new exchanges? Spreading the custodial NBT across many exchanges is a necessary form of reducing this risk exposure. How can I contribute to the process of listing NBT on new exchanges?
I believe I heard @CoinGame mention recently that there are talks with a few different exchanges at the moment, but I could be wrong. Shouldn’t be too hard, the volume of NBT has been pretty solid.
Right now we’re working to build bot support for the existing exchanges we have listed. c-cex.com should be getting a nubot on it soon as I believe the API wrapper is almost done.
yes, we just released 0.1.3 release candidate for testing. That includes poloniex and ccex support.
One custodian is ready with funds on poloniex, and current custodians partially moving to ccex later.
@Chronos: I was distracted before I posting it, and then it slipped my mind. I will remedy that as soon as I finish investigating the strange trades on CCEDK’s NBT/BTC market.
Liquidity info is correct from all but the CCEDK NBT/BTC market. That bot has had a problem connecting through RPC to the Nu daemon that reports liquidity information. I have not had time to discover the problem, or to fix it, unfortunately. It is on my list of priorities right now.