Backbone Reserve Operations (Tier 6)

[GreatScott]

Can you include the amount of BTC which was earned during these sales?

[jooize]

It’s almost always 1.1–1.3 BTC so I have avoided the extra work in the routine.

[jooize]

2016–10–18

2 M NSR sold into buy wall.

2.48904424 BTC Poloniex @jooize → Poloniex Gateway @jooize

Two days worth because withdrawal failed previous day.

[jooize]

2016–10–19

2 M NSR sold into buy wall.

1.26593506 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–20

2 M NSR sold into buy wall.

1.35106827 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–21

2 M NSR sold into buy wall.

1.36072402 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–22

2 M NSR sold into buy wall.

1.31670000 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–23

2 M NSR sold into buy wall.

1.26021826 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–24

2 M NSR sold into buy wall.

1.26657832 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–25

2 M NSR sold into buy wall.

1.25537739 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–26

2 M NSR sold into buy wall.

1.14797259 BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–27

2 M NSR sold into buy wall.

0.95709603 BTC Poloniex @jooize → Poloniex Gateway @jooize

I should have waited until later in the day. This sale was badly timed.

[jooize]

2016–10–28

2 M NSR sold into buy wall.

0.90087237 BTC Poloniex @jooize → Poloniex Gateway @jooize

[ConfusedObserver]

No more NSR sale or just no updates?

[GreatScott]

I find it entirely non-transparent the fashion in which @Phoenix dictates liquidity policy. Perhaps this is just a coincidence, but I am curious as well.

[jooize]

2016–10–29

Sorry for the slow update.

I’m trying to strike a balance here with what seems to make sense to withhold while not operating fully opaquely. I have tried to figure that out with the Chief, but haven’t gotten a response to my latest message, so I’ll go with the following. I’m pushing for transparency by default, but have to agree it’s not always beneficial. I struggle quite a bit with what to do, hopefully doing the right thing.

New liquidity policy applied. Because it may disadvantage Nu on the market to disclose the exact policy, it will be kept secret. Exchange logs will be updated for transparency, but with a delay from when actions were taken.

BTC Poloniex @jooize → Poloniex Gateway @jooize
BTC Poloniex @jooize → Bittrex Gateway @jooize
BTC Poloniex @jooize → @jooize → NuLagoon Tube

[jooize]

2016–10–30

BTC Poloniex @jooize → Poloniex Gateway @jooize
20 K US-NBT Poloniex Gateway @jooize → @jooize

Excess US NuBits moved off exchange to lower exchange default risk.

[GreatScott]

Because it may disadvantage Nu on the market to disclose the exact policy, it will be kept secret.

I am sure US-NBT “customers” aren’t comfortable with the uncertainty they have found themselves in.

[jooize]

I hold the view that what I’m doing is currently the only way to give our customers any kind of relief. Whether the Chief’s liquidity policy is the best or even a good way I’m not qualified to judge, and well, he decides. All I can do legally is argue or quit. I’m frequently asked for my opinion and I provide it when I have one, but I’m not a good trader. I’d love to see someone present what their policy would be.

What do you mean by quoting “customers”?

[GreatScott]

I put it in quotes because I am not sure there are any.