Current Liquidity

[masterOfDisaster]

I didn’t had BTC for a long time on Poloniex. Only yesterday 2BTC was hedged temporarily but sold again a couple of hours later.

You do understand why you got the BTC traded soon, while @zoro still has BTC left?

At Bittrex there’s no gateway, but yours.
There you are the last line of defence!
Sadly, your BTC there will be gone soon.

At the moment the peg looks great at Bittrex:

Once your BTC there are gone, it might look worse than it currently does at Poloniex (the line above).

edit: gotta go. Cya.
PS I’d be interested in knowing how long your Bittrex BTC lasted.

[zoro]

I was surprised that my nubot still has btc in buy side!

[masterOfDisaster]

It’s no surprise to me.
It works like I designed it.
Thank you for following my recommendation.
You did Nu and yourself a favour!

[zoro]

Yes. Just a question to "liquidity lovers."
If you don’t have liquidity fast enough, what are you doing then?
How you will protect the peg?

[huafei]

all BTC got at 0.005 offset , there are no nulagoon tube to refill my BTC

[masterOfDisaster]

@zoro, keep an eye on your Nu’s BTC at Poloniex.
I recognized a buy side decrease in the broadcast liquidity, but think that’s due to the slight drop in BTC rate.

If the surge of BTC price goes on, you might want to increase the spread even further.
I for one wouldn’t worry about 4 or 5% spread if that’s “the price to pay” for having peg support at Poloniex at all.

[cryptog]

I was surprised that my nubot still has btc in buy side!

At what spread are you operating?

By the way, on a separate note, the avg liquidity reported by Nu client and the avg liquidity gathered from exchanges by ALiX are quite different.
Which one to trust? I suppose the gathered liquidity is accurate.

[Cybnate]

Sadly, your BTC there will be gone soon.

Not when BTC has apparently reached its top, slightly going down now. We will see, no one really knows.
The only thing I know we are overdue to top up the reserves.

[Cybnate]

Which one to trust? I suppose the gathered liquidity is accurate.

I trust the actual orderbooks in times like this, next best is Alix imo. Gives a nice overview of high and medium quality peg, but is technically slightly incomplete due to the 1.5 tolerance cut.

[mhps]

the real issue is trade volume, not spread.

People, when we say customers, currently we are talking about traders. To be exact, we are talking about traders of btc/nbt and btc/usdt on polo. Traders on other exchanges don’t matter. So we only need to see if we offer a better peg than Tether-BTC on polo.

Looking at https://poloniex.com/exchange#usdt_btc i am wondering where its volume come from: from the chart its 4hr volume reaches 100+ btc, but from the order book there are less than 10 btc down to 480 on the usdt->btc side. Where did the liquidity come from?

I guess either they use bots that only put new funds on the order book when current order is taken, or something dogy is going on. It’s possible to test this by buying/selling 10 btc and see if liquidity on the book get replenished

[zoro]

They have a price feed of 493$ and we use bitfinex’s 500$.
go figure!
Moreover they don’t have buy side at all!
We are in much more better shape!
You can say they have liquidity with a broken peg?

edit:

Tether (USDT) price, charts, market cap, and other metrics | CoinMarketCap

this is a joke or what?

[mhps]

Since there is no easy way (is there?) to trade nbt-tether, the price difference is no surprise. It just illustrate that on any exchange, btc/usd is really btc/usd-token-issued-on-this-exchange. Nubit, by using a price feed from several exchanges, is a fund made with a basket of usd-tokens issued on several exchanges.

[zoro]

Well, i don’t understand their business model at all!
edit:
Perhaps someone could use our nbt/btc and their tether/btc to profit right now?
@Nagalim ?
you have a good knowledge about arbitrage!

[masterOfDisaster]

Btw. - where are the Poloniex (buy side) orders from NuPool?
I can’t find any on ALix whenever I look.
Isn’t even ALPv2 capable of providing sufficient incentives for providing liquidity in these times?
…well then…

[zoro]

where are the Poloniex (buy side) orders from NuPool?

trolling?
whenever i put some btc in nupool they were gone in minutes!
That is why i am asking about some kind of arbitrage!

[masterOfDisaster]

trolling?

No.
Just making an observation.
We might need thise observations whem dealing with the aftermath and trying to learn from this situation.

[huafei]

0.005 offset at nupool buy side kill all BTC

[Cybnate]

0.005 offset at nupool buy side kill all BTC

0.014 also just did that at Bittrex (MoD doesn’t need to reply)
BTC is again over 500. As long it makes those upward swings, there is not much we can do.
Get every BTC we can find to zoro at high spreads to at least have some kind of a peg…

BTW Have to grab some sleep, just hope BTC stays around 500 for a while, we can’t bear any more.

[cryptog]

Buy side at 5.78%.
We need to increase even more the spread at the gateways, it seems. 1)
Or we need to sell nsr asap 2). Or both.
But 2) is more important now, i think.
Because the higher the spread the more panic it would spark among hedgers and that would eat up the buy side even faster, i feel.

[masterOfDisaster]

1. I’m already caring about that. One gateway account NuBot is already running. I had to replace the broadcast addres. The old one timed out 14 days ago. Bad timing. I’m creating a deposit to the gateway account.
2. This can be taken care of right after NuBot is running. I’ve already created an NSR deposit address at the Poloniex gateway account.
   Will report back soon.

Because the higher the spread the more panic it would spark among hedgers and that would eat up the buy side even faster, i feel.

Can be true, but isn’t necessarily. Traders will always gamble. The offset just needs to be big enough, I feel. Market awareness!