0.014 also just did that at Bittrex (MoD doesnāt 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 pegā¦
BTW Have to grab some sleep, just hope BTC stays around 500 for a while, we canāt bear any more.
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.
Iām 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. Iām creating a deposit to the gateway account.
This can be taken care of right after NuBot is running. Iāve already created an NSR deposit address at the Poloniex gateway account.
Will report back soon.
Can be true, but isnāt necessarily. Traders will always gamble. The offset just needs to be big enough, I feel. Market awareness!
Once the tx, which already got 4 signatures in record speed is through, broadcast and credited at my Poloniex account, we will have bought some more time.
Hereās the current situation:
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt -A 2
"B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt" : {
"buy" : 0.08,
"sell" : 7.4037
I already made preparations to be in the position for selling NSR at Poloniex.
If Iām the one to sell NSR at Poloniex, the BTC proceeds will automatically be available for the NuBot gateway, because Iāll use the same account.
Accounting wise thatās not ideal, but it speeds up the process of getting the NSR sale proceeds on the order book by orders of magnitude.
If someone has a better idea, he/she might tell.
The NSR from FLOT reserve are at the moment not available for me to craft a tx, because blockexplorer.nu failed and cointoolkit relies on it, wheras I rely on cointoolkit for creating a tx.
If somebody knows how to make a an NSR tx with FLOT funds and without cointoolkit, please do it!
Why is that? Isnāt the price feed from the heavy weights of the market? OK I see only Huobi has 536 and bitstamp 489, btc-e 484, bitfinex 498. So NBT/BTC on polp is now 510 (tether is 491). I think nbt price feed should follow the easiest inter-exchange arbitrage channel or we will be on the losing side of the arbitrage army.
On Polo nbt/btc, the sell side is 510 at 1btc sum, and 530 on the buy side! Polo has no usd deposit, the btc price is through tether. I have no proof but I think it would be easier to arbitrage between polo and bitfinex than between polo and huobi.
Maybe all we should do is reconfiguring the feed for polo?
Following the meaning of āCore and Standardā we need to sell close to 5 million NSR, based on the current NSR rate of $0.002.
I realized that @backpacker not only kicked his blockexplorer, but provided us with a fork of cointoolkit.
Iām about to create a tx.
But you can beat me to it, if you like.
Do we have an alternative plan to using my Poloniex NuBot gateway account?
You can watch the liquidity at this NuBot via broadcast address B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt:
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt -A 2
"B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt" : {
"buy" : 4000.08,
"sell" : 7.4037
Iāll take a break now, but will keep an eye on the FLOT NSR discussion in short intervals.
Iām ready to put NSR on order if they are sent to my Poloniex address and I get assistance to answer the question:
How to sell 2.4 mio NSR in the current market?
Where to start, how to proceed?
Alix walls tell us that most of the T1 liquidity is on ccedkā¦
Since ccedk trading is shut down that means that we do not have any T1 liquidity any more.
Trading at CCEDK is announced for shutdown at June, 1st.
And we still have some T1.2 at Poloniex
Unfortunately we canāt grant BTC - that would solve the whole problem, lol.
Wanna know why the peg at Poloniex didnāt fail completely? The NuBots @zoro and I operate are creating a demarcation point at 5% offset (zoroās) and 6% (mine).
As long as zoroās NuBot has funds on buy side left, the NBT/USD rate measured via synthetic NBT/BTC peg wonāt drop below $0.95 and as long as my NuBot has funds on buy side left, the peg wonāt drop below $0.94.
There are still funds on buy side! They get consumed only slowly. The offset is not very attractive - just like itās meant to be:
Sun May 29 20:13:08 UTC 2016
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt -A 2
"B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt" : {
"buy" : 9170.72,
"sell" : 3409.3515
status of zoro dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo -A 2
"BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo" : {
"buy" : 7931.8,
"sell" : 22634.1522
Over the course of the last hours some BTC were sold, the sell side of both zoroās and my NuBot report an increasing sell side volume. But thatās only small amounts.
This is the prime reason, why I drafted this proposal:
is no fit for supporting NBT/BTC. It would be good for NBT/USD.
Iād like to be in a world, where it can be sustained for NBT/BTC as well.
Alas, we arenāt and it canāt in the near future. Nu needs to make a lot of (final!) revenue to sustain such a model.
Itās not possible now.
although partially moving in the right direction doesnāt go far enough.
Consider the current situation.
Think what would have happened, if we didnāt act according to my proposal.
Imagine what would have happened to the buy side when limited to max spreads/offsets as stated by @JordanLee or @Cybnate.
@JordanLee, do you still think your proposal is the way to go?
What is your conclusion about the current situation and how we treat it?
Would you have preferred having sustained a perfect peg for another hour and complete helplessness thereafter, or can you agree that itās better to have a demarcation point at $0.95 that seems sustainable for an extended period of time?