[Closed] Motion to cease shareholder-funded NBT/PPC operations

.Ok, I need to clarify what I meant. The 2m is for sale in the market right now, of which about 500k has been sold and transferred in ppc and btc holdings.

Tks for the clarification.
Those 2m must be corresponding to the 2.2m in coinmarketcap. -->$ 2,248,306 .

Anyway, that would be great to have a real-time tool that lets shareholders know how many NBT are for sale…
Perhaps such an information would be included in the tool that was talked about by @ben .
I assume that there is no command in the debug window of the Nu wallet that lets you get to know about that.

I’m assuming the custodian tool will provide us with plenty of information such as that.

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The new wallet version would be able to take datafeeds. I haven’t seen it yet as it is still being tested, but I know the intention is to inform the shareholders better. @cryptog There is currently no command to obtain that information.

@Cybnate All right. Tks for the information anyway.

I am a strong supporter of PPC but I have to vote to this motion because of this reasons

@KTm How much liquidity is currently on CCEDK PPC/NBT pair? At the time this motion was put forward, which was about two months ago, it was about 200000 PPC. Is there still a similar amount on the book now?

@Chronos, as of 20:50 GMT:

// The total amount of liquidity that has been active on that market (total deposits amount minus withdrawals for liquidity balancing and dividends):
191,079.789 NBT

// Amount paid in fees over the life of this market:
(9524.0215 NBT) - Sell-side
(14,398 NBT) - Buy-side

// Total NBT liquidity that should exist after balancing, dividends and fees (assuming no losses due to exchange rate arbitrage or holdings devaluation):
167,157.768 NBT

// Current Account Balance
PPC: 144,971.3698394 PPC (@ 2.049079 = 70,749.3464 NBT)
NBT: 1,179.19155385 NBT

Actual Total: 71,928.53 NBT

I’m going to triple check my numbers. But if these hold up (and I believe they will), it is obvious that Peercoin’s price slide from $1.40 (on 22-SEPT-2014) to $0.49 (today) has allowed for significant arbitrage trading and devaluation of holdings.

This is why I have not injected extra sell-side liquidity onto the market since 20-NOV-2014.


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It’s hard to cleanly separate devaluation from capital losses due to arbitrage just looking at that, but I ran a back-of-napkin calculation to see how badly the price slump that PPC has been in has (potentially) hurt.

167,157.768 NBT on September 22, 2014 was worth 119,397 PPC (at $1.40)

167,157.768 NBT on January 8, 2014 is worth 341,138 PPC (at $0.40)

Converted totally to PPC, the current account holdings (at 2.049) are 147,388 PPC.

If nothing changed, and all of those NBT on September 22 had been converted to PPC, we’d be looking at a total account balance of 47,758 NBT. Obviously that’s not a perfect calculation because there’s been ebb and flow to the pricing and all of the NBT wasn’t immediately exchanged for PPC, but it gives a ceiling for how poorly you’d come out holding PPC over the past 3+ months.

My assessment is that it is a devaluation problem more than an arbitrage problem – but with the high volume on that market that has gone on for a while, I’d bet that both are contributing.


Voted for that reason

Why did the vote hash change?

I think this motion have been superseded by the motion to end operations with the Shareholder funds by JMiller and KTM. Anyone thoughts about this? I’m considering removing it from my datafeed.


@assistant motion vote 1ce96336ac866c29cbcbf0908b0752b0065a3af4

Hi @crypto_coiner

Here are the details for the Motion Vote on 1ce96336ac866c29cbcbf0908b0752b0065a3af4:

Blocks: 633 (6.330000%)
Share Days: 198014546 (5.187276%)

@assistant motion vote d29b0997816d9f5ef8de5c238cca1e618dafc974

Hi @crypto_coiner

Here are the details for the Motion Vote on d29b0997816d9f5ef8de5c238cca1e618dafc974:

Blocks: 159 (1.590000%)
Share Days: 56256634 (1.473982%)

This motion was initiated in nov 2014 and has been poorly supported so far.

I have been voting for 1ce until a few days ago. Had 1ce passed in time shareholders would not have lost several tens grand.

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Been voting for 1ce since the beginning - never voted for d29 though until today. This lacks transparency and clarity.

@assistant motion vote 1ce96336ac866c29cbcbf0908b0752b0065a3af4