Having sold tens of thousands of NBT in the last week it’s no bad idea to burn some NBT which seem to be from T3 instead of pushing the NSR price unreasonably high.
Nu just gets less NSR per BTC the higher the NSR price is and makes speculators, who can make safe bets on the buybacks, rich.
These are side effects of the buybacks that need to be taken into consideration.
Alternatives like hedging BTC risks with PPC, bitUSD or alike need to be evaluated to decrease the predictability of the buyback effect.
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if you need to have some NBT exchanged for BTC to balance BTER and POLO, sent me a pm 
So we did a calculation of fees generated on the NBT and NSR connected pairs and came up with below totals from may 1st. It is really not a lot, and I guess most of the reason is the liquiity providers being able to run almost with zero fees in most of this time. Anyone interested in seeing total list of fees without each user as such mentioned is welcome to ask.
BTC: 0,00484061
USD: 28,67548438
EUR: 73,05774376
PPC: 0,00041352
NBT: 115.05
I will try to keep and update now once a month, but it is clear I will have to focus on making a successful introduction of OBITS in order to use some of this to settle step by step.
The offer still stands. If anybody places orders of OBITS on our website www.obits.io, and mentions in promocode NUBITS, I will return half of the amount paid to be burned as Nubits, or delivered on an adress hre and then you exchange to NSR and burn.
You are able to buy OBITS on site on the bae of BTC or BTS.
That is the best offer I can give for the time being, and will otherwise keep focucing on making OBITS a success as it will help me help solve matters here as well.
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Hi @ronny, what is the status of the repayments to Nu? Any advances in the last month shareholders should be aware of?
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How much does CCEDK owe NuBits?
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The answer to that question is here:
1,587.9 NBT have been burned by @ronny:
That makes a remainder of 32401.17 NBT CCEDK has to pay to Nu.
I have a hard time understanding that there’s money for such a rebranding initiative for CCEDK, but no money for paying the debts you, @ronny (more precisely: CCEDK), have at the Nu network.
Can you please clarify?
It’s about time to start talking about interest for that debt.
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Bump!
@ronny, it’s time for an update.
It’s time for repayment.
Do we need to give you a deadline and announce next steps to get this going?
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@ronny, we need an answer from you, as your last update was all the way back in November. This is simply unacceptable. Please respond or else we’ll be forced to take action.
I do apologize for the lack of response. I have been very busy and its been hard to find time for even the smallest things.
I do have some news for you, and although support have never really picked up again since last february, I have some nice amount to to cover asap, and suggestions as to how to move on.
I asume you have received all funds from Excoin as well as Bter since you are pushing this hard!
I will do all my best to help the shareholders get some refunds back, in future it will however be very much based on some mutual co operation and help in this.
As you may well know already and as a direct result of the need for the world to know last year, it has never again been possible to get the volume and traffic back on CCEDK, and it is therefore a direct result to this inciden that CCEDK will end its trading engine an exchange as such. We could have decided to close back in March last year and say thats that, but we decided to stay and to try to fight it out. I have some 20-30 BTC worth of Nubits I wish to settle in coming days, and it is not becaue of increased traffic on CCEDK from the NuBIts user base but simply because I do care and wish to help as much as possible.
Lets continue this tomorow night when I have more time.
Untill then
All the best
Ronny Boesing
CCEDK
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I’m afraid that according to my information exco.in went bankrupt and bter offered a shady way to compensate the losses that might take some time to fully refund losses.
That’s highly appreciated.
I assume you don’t want to be associated with exchanges that go bankrupt or make shady offers and for that reason you continue once you have more time, right?
That’s highly appreciated as well!
What exactly do you have in mind? Cooperation to a mutual benefit sounds promising.
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was a bit busy yesterday, but i a few hours I can bring it all up here
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sorry it will have to be in the morning. Will however initiate in the morning to get some 20BTC worth of nubits ready during the day, so please provide an adress where this amount can be sent to be burned. We start with that amount, and coul do another 10 BTC in coming days if we can agree on how to move forward where we continue to work together to finally get all settled.
all the best
Ronny
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Burning the NBT is one way.
There’s an RPC command for that:
burn <amount> <unit> [comment]
Just publish the tx ID once you burned them. I don’t know whether comment only gets put into the wallet or associated with the burn tx on the blockchain. You might want to make use of that.
The alternative I see is sending the funds to the FLOT NBT address:
As the funds are related to former liquidity provision, the FLOT NBT address seems to be a viable place to have them sent.
I’m interested to hear your proposal for a cooperation!
I agree that burning USNBT using the burn RPC or sending USNBT to FLOT address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js are both fine ways for CCEDK to repay shareholders.
Thank you Ronny.
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Is there any information on this available? Precise numbers or agreements? Who was involved in the (partial) settlement?
bter had financial issues, closed the gates for some time, found an investor to continue and forced customers into a “loan” that is paid back over time.
A “special” type of BTC was introduced afair - one that can’t be withdrawn and that represents the debts bter has in each bter account.
This debt gets paid back by revenue from fees over time.
So ho much do they owe Nu?
I don’t remember. It’s buried in threads and posts from February 2015.
If you want to search for it, a good start are posts from @KTm and @jmiller.
The btc are held as btc-b on @jmiller and @ktm’s accounts. I personally have some btc-b as well, as do many people who are owed money by bter. What’s worse is bter has started instituting % withdrawal fees, which if they pay back the btc-b would immediately take a cut back from what they owe. I think their plan is to hope that if they wait long enough, when they give it back no one will remember their logins or care. You know, aside from just going straight belly up, but they coulda done that a year ago.
Just a quick feedback. I am very tied up at the moment an have had no chance to go into details as well as the settling of some 20 btc worth of nbts, I ask yo for your patience little longer, and my goal is now coming monday May 30th. Sory but I am trying to combime business and family, and the family is needing me for a couple of days now.
Will be looking into the proposals I am thinking an perhaps even post over the weekend while off a little.
Once, apologies, but we will get this moved on.
All the ebst
Ronny
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