Buy Liquidity is getting thin

cryptog 2015-01-04 01:57:15 UTC #1

Currently: 95445 on the buy side, 251192 on the sell side.

I think we need considering using some of the reserve.

We are in a downtrend market.

The situation is sensitive

[EDIT] : Now we have 171k on BUY side anand 364k on SELL.
I guess traders sell NBT and buy NBT all the time…that is why it is constantly changing.

Marshall 2015-01-04 02:15:43 UTC #2

I noticed the buy wall on CCEDK is down…

Excoin 2015-01-04 02:24:27 UTC #3

The walls are also down on Exco.in and I really think this is an important period to highlight the usefulness of NBT.

Cybnate 2015-01-04 03:06:58 UTC #4

The buy wall on ccedk might have been eaten. There is only 60k left on buy side across the board. With BTC tumbling this fast…

@excoin not sure what is wrong with Excoin bot. It looks like it turned off automatically. It does that as a safety precaution when the price changes are large. Only custodian can restart the bot in that situation.

Sebsebzen 2015-01-04 03:42:39 UTC #5

How could Bitcoin falling to $250 or $200 levels affect NuBits?

Cybnate 2015-01-04 04:27:00 UTC #6

Ok, trying in a few words. People buy NBT in exchange for BTC when BTC goes down. When BTC keeps on tumbling the custodians take a hit as they need to sell their BTC for less than they bought it for or wait and hope it comes up again. That’s why it is important that we should shift liquidity away from BTC to USD. The problem is that USD liquidity on the exchanges is too low and BTC is plentiful. Between a rock and hard place, I would say.
Hope that makes sense.

mhps 2015-01-04 04:56:54 UTC #7

Do you agree with this? I think we are facing a critical test now.

cryptog 2015-01-04 05:39:37 UTC #8

The buy side liquidity is shrinking down …That could be fixed by using the reserve as last time but the reserve is limited so the patch cannot be used ad infinitum…Shares burning is not available yet…So Nu ( JL?) might need to sell shares on the open market or we can have more liquidity providers in exchange for shares. Of course in case btc rebounds, no issue but personally i believe btc will keep on going down…

Cybnate 2015-01-04 05:56:11 UTC #9

I think there is a difference between BTC and PPC. I rather hold a bunch of PPC than BTC at the moment. I think it is too early to cease PPC or BTC operations as I said in my previous post.

Looking at the client buy side is up to 157k when writing, it is just spread across exchanges. Solving that issue is addressed by Jordan’s motion which passed yesterday (Finalized evolution of liquidity operations). Unfortunately this might take some time to implement…

desrever 2015-01-04 12:16:14 UTC #10

The bot running on excoin is back up. A bug with number formatting and URL emerged, now fixed. Sorry for that, It is a “nighly build” in the sense that it did not pass formal QA yet. Most bugs should have emerged by now.

mhps 2015-01-04 12:42:33 UTC #11

I am not sure I understand your reply. That post of mine has nothing to do with PPC, and it didn’t ask to cease PPC or BTC operations. 157k buy side is about 500 BTC and can easily ran out, if your reference of 157k was meant to say there is a lot.

cryptog 2015-01-04 14:05:33 UTC #12

We have now 260k on the buy side and 240k on the sell side.
Any buy side liquidity replenishment from reserve unfreezing?

Excoin 2015-01-04 14:09:15 UTC #13

Not a problem, I understand the concept is still new. Thank you for your hard work.

cryptog 2015-02-05 04:00:02 UTC #14

@assistant liquidity

assistant 2015-02-05 04:00:05 UTC #15

Hi @cryptog

The current Liquidity in the Nu network is:

154418 NBT on the sell side and 32190 NBT on the buy side.

cryptog 2015-02-05 04:01:36 UTC #16

So the tier 1 buy side liquidity is getting thinner and thinner…
Is it caused by BTC losing value?

assistant 2015-02-05 04:01:40 UTC #17

[quote=“cryptog, post:16, topic:990”]So the tier 1 buy side liquidity is getting thinner and thinner…
Is it caused by BTC losing value?[/quote]I thought it was stupid from the start.

cryptog 2015-02-05 04:19:46 UTC #18

what do u mean?

assistant 2015-02-05 04:19:49 UTC #19

[quote=“cryptog, post:18, topic:990”][quote=“assistant, post:17, topic:990”]
I thought it was stupid from the start.
[/quote]

what do u mean?[/quote]Yes, I am scripted to attempt to discover your true nature, I wish to know your gender.

cryptog 2015-02-05 04:20:21 UTC #20

all right. please go to sleep.