[ANN] NuLagoon Tube's Offset to 5%, and NuLagoon's Commitment to NuBits's Liquidity

[Nagalim]

So just to be clear, there are about 150 BTC of funds that are owed to people in the network that are waiting on BTC confirmations. That’s a shit ton of buy side liquidity. Not all of it will end up in the network, for sure, but it’s pretty rough that there are $70k buy side frozen that are owned by users of our network.

[masterOfDisaster]

Where do you get that number (150 BTC) from?
Is that what derailed our liquidity and brings us close to activating NuSafe AND selling 5 million NSR?

@henry can you please confirm that 150 BTC sent from NuLagoon are pending confirmations?

Are the tx with question mark here pending confirmation?

If yes, that’s 143 BTC…

[Nagalim]

that’s 143 BTC

the 10 BTC is a withdraw, so it’s probably not going to come back to our network. The 107 could though, and the 27 is to the same address. So that’s 134 BTC all to one address, all unconfirmed. We can’t be sure it’ll stay in the network, but we can be absolutely sure that this person is someone who interacts with Nu and that they have 134 BTC sitting in limbo.

[masterOfDisaster]

After investigation, the reason turn out to be a CashWithdraw TX which is set a fee much lower than 0.0001.

@henry, as the withdrawals are still not confirmed I need to ask:
have you considered sending the BTC again using the same inputs, but a higher fee?
That will help getting the withdrawal processed while canceling the one with the too small fee.

We are in a not very good situation liquidity wise and I’d like to know whether getting those withdrawals through can help - who knows what the receiver intends to do with them?

ninjaedit:
forget it, I just checked them on a blockexplorer.
They’ve been confirmed (NuLagoon still had a question mark, because I didn’t reload the browser tab)!

[henry]

[ANN]

• Untill Nu T4-6 Management balance NuLagoon Tube, The Tube’s Bitcoin out TX and the Pools’ Bitcoin withdraw will be delayed.

• The Tube’s Bitcoin -> NuBits exchange and the Pools’s NuBits withdraw servies offered in normal.

[zoro]

Capital controls!
It is remarkable though that i see only a single withdraw from the pool!
Very mature reaction from NuLagoon investors!

[henry]

only a single withdraw from the pool!

There are additonal BTC withdrawal requests received and holding. But generally, NuLagoon Pools’s fund is very stable. We hope everything can back to normal asap.

[kimmel]

hello I’m trying to withdraw my investment from Nulagoon too and havent been able to do it…

Already sent a PM to @henry I really dont know if I’m not sending the 0.0001 btc the appropiate way or what’s going on…

I just know I need my 2 k usd for personal needs and I have been for a week trying to withdraw it…

would appreciate some feedback.

thanks

[henry]

We are terribly sorry about this. Your bitcoin withdraw request is holding and can not be processed at the moment because there is no bitcoin in NuLagoon until T4 fund balance NuLagoon.

@FLOT, is it possible to send NuLagoon some BTC to let this gentleman’s withdrawal go through? It’s only a few thousands dollars. We donot want to lose our valuable investors. Thank you.

[masterOfDisaster]

You’ve been heard:

FLOT BTC Operations (buy side)

@henry, how can FLOT send BTC to NuLagoon without having them put to NuLagoon Tube?
Are withdrawals prioritized over trading on NuLagoon Tube?
Otherwise sending BTC to NuLagoon Tube wouldn’t help to get this issue resolved.

[henry]

Yes. We can manually trade with FLOT by using T3 address.
Flot send btc to 1NfmHm5RVTjkER2n3zGuMbRkeotJmkBrLj
we can manually send nbt to FLOT’s address. The price can be the set at the time btc tx sent

[kimmel]

@henry I have no problem into accepting NAV USD value of my withdrawal sent in NBT at 1:1; I can send you a NBT address through PM and any further proof of BTC address ownership you may need.

I just would like to be able to withdraw my funds; I didnt planned to need them, but I actually need them…

thx

[henry]

@kimmel, please register your btc address with a Nbt address on Tube by sending register txs, we will send you money in NBT 1:1 of the value of your pool share under btc address. we will also refund your register fee. Thank you.

[masterOfDisaster]

I will craft a tx to deposit 2k USD (almost 4 BTC) to this address as soon as I find the time.
Somebody might beat me to it

[kimmel]

hi there @henry and @masterOfDisaster thank you very much for your comments.

Just registered a pair through the form at nulagoon:
btc 35iqvZceLSiaaLnsoGzVv1YhLyPwuPDjes
nbt BRZeRijyeSWT67XYJCKJfzBKBux2N3Xxe7

I would rather send the small amounts but need to download the whole nubit blockchain, then transfer there some nubit…and it gonna take ages as far as I have seen…

If I should do something else just tell me

thanks,

[masterOfDisaster]

@kimmel, the BTC deposit to NuLagoon, that allows processing your withdrawal, is almost complete:

FLOT BTC Operations (buy side)

signed 4 of 5/8 verify

Regarding the details of how to get the BTC from NuLagoon, please ask @henry for advice.

@henry, may I ask: why did @kimmel have to register an address pair?
The BTC address from where the funds were deposited to NuLagoon by @kimmel should be well-known to you - from that @kimmel sent de withdrawal request.

[henry]

Because kimmel asked if he can withdraw in NBT

[masterOfDisaster]

Why do we transfer 4 BTC to you then?

[henry]

Form registration is not valid for proving the address ownership. You can wait for FLOT trade a few btc with NLG and still withdraw in btc. Your withdraw request is well received, and you dont have to do anything more. we will process it at the next accounting day, which is tomorrow, as long as FLot tx arrived. Sorry for everything.

We are doing our best effort to serve NuLagoon’s customers.
If you want withdraw in another coin rather than what you deposit, you have to prove ownership.
Otherwise, just withdraw by the address you deposit, which require Flot trade BTC with NLG.

[masterOfDisaster]

Form registration is not valid for proving the address ownership.

This is a good measure to prevent stealing funds. Appreciated.

You can wait for FLOT trade a few btc with NLG. Your withdraw request is well received, and you dont have to do anything more. we will process it at the accounting today as long as FLot . Sorry for everything.

That doesn’t make sense.
If @kimmel wants to withdraw NBT, he (supposing @kimmel is male…) can register an NBT address, that’s associated with the BTC address, from which he deposited the funds once to a NuLagoon pool.
Then he can request a withdrawal of NBT to this registered address.
NBT are plenty in NLT.
What does that have to do with a FLOT trade of BTC to NBT using NLT?