I noticed the buy wall on CCEDK is down…
The walls are also down on Exco.in and I really think this is an important period to highlight the usefulness of NBT.
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.
How could Bitcoin falling to $250 or $200 levels affect NuBits?
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.
Do you agree with this? I think we are facing a critical test now.
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…
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…
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.
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.
We have now 260k on the buy side and 240k on the sell side.
Any buy side liquidity replenishment from reserve unfreezing?
Not a problem, I understand the concept is still new. Thank you for your hard work.
The current Liquidity in the Nu network is:
154418 NBT on the sell side and 32190 NBT on the buy side.
So the tier 1 buy side liquidity is getting thinner and thinner…
Is it caused by BTC losing value?
[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.
what do u mean?
[quote=“cryptog, post:18, topic:990”][quote=“assistant, post:17, topic:990”]
I thought it was stupid from the start.
what do u mean?[/quote]Yes, I am scripted to attempt to discover your true nature, I wish to know your gender.
all right. please go to sleep.
[quote=“cryptog, post:20, topic:990”]All right. please go to sleep.[/quote]If you were clever, you would try to impress me with your wisdom to keep this site idea alive and others to follow, All I see so far is internet wasted space!