Okay, you don’t need to quote that, but hey @Phoenix can you post an updated graph of NuShare sales that shows estimated point of buybacks at current trend?
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2017–04–14
Daily move to equilibrium this week: 183 USD in BTC
Move to equilibrium in BTC: 0.15443
NSR sold: 482593.75
BTC Poloniex Esko → Esko
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I dispute this.
Yes, but I don’t have time right now.
This is yet another record low in daily NSR sales, for the series of NSR sales that began in July. The trend toward NSR scarcity continues.
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This was written on 02MAR17 here: [Poll] When do you think the next NuShare buyback will happen?
So how accurate your simulation was?
Not accurate, as he warns it probably wouldn’t be. Nobody can be expected to predict that. There’s still value in it, and I’m curious about an updated estimate.
agreed. do we have any concrete idea about how far we are compared to equilibrium? my understanding is that we are buying back nubits by issuing nushares (well we are building up a reserve) but when the reserve has reached a certain point we would stop. when would that be?
I’ll post updated supply, reserve, and equilibrium figures soon. Let’s try playing with those later. I may have to continue with that tomorrow though.
tks. looking forward to it.
2017–04–15
Daily move to equilibrium this week: 194 USD in BTC
Move to equilibrium in BTC: 0.16511
NSR sold: 550366.66666666
2017–04–16
Daily move to equilibrium this week: 194 USD in BTC
Move to equilibrium in BTC: 0.16441
NSR sold: 469742.85714285
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With $19,040 to be raised at the rate of $194 per day, we’d reach equilibrium in just under 100 days. The daily amount is 1% of the deviation from equilibrium and adjusted weekly, meaning with NuShares sales only we’ll approach equilibrium slower the closer we are.
Assuming no expenses, NuBit sales, and reserve asset price difference, the following happens.
As long as the NuShare remains above zero value (currently 35–36 satoshi), we’ll raise $1,358 this week. Tier 1–4 reserves were last Friday $56,526, so next Friday they’d be $57,884, making the daily move to equilibrium $181.
Sales of NuBits increase Tier 1–4 reserves and of course the amount in circulation. Expenses in BTC directly reduce Tier 1–4 reserves. Expenses in US-NBT increase amount in circulation.
NuShare buybacks require NuBit sales. We work toward increasing confidence in our operations and the attractiveness of NuBits. I’m glad to see the support in the NuShare market.
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This is the lowest daily NSR sale that has occurred since this round of NSR sales began in July. We frequently create new record lows, which means the NSR inflation rate is in fairly rapid decline. With only modest NuBit sales, the NSR inflation rate can become negative, which equates to NSR buybacks in excess of mint rewards.
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It’s great that reserves are increasing, which is essential to build trust that there’s support for liquidity.
I guess it’ll be a fairly long road to build trust for people to begin using NuBits again, but hopefully once people see the reserve levels increasing over time it’ll help.
I don’t know how much of the data @jooize has / uses can be pulled in an automated form, but a live chart visualising NuBit circulation vs reserves vs NSR market cap + NuBits buy orders depth etc might be interesting to help show potential NuBits users there’s good reason to trust in NuBits stability. I wish I knew how to knock that together!
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We have live charts for network health in the works actually. Great additional ideas, thanks!
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Awesome to hear they’re in the works.
It’d probably help people understand how things work & why / whether they should trust the system.
Is the peg maintained or not? seems broken
We’re aware, and working on a solution. The problem is that NuBot uses Bitfinex as Bitcoin price feed which is at $1205.80, while CoinMarketCap currently appears to use Poloniex’ ETH/BTC pair for its Bitcoin price, $1177.10.
The peg is healthy, but unfortunately appears not to be.
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Sounds good –
Now, which member is the nu team made of? currenty
- phoenix
- jooize
Who else?
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