This seems to be the third consecutive day where the sell wall on Poloniex is next to zero.
There were some spikes, but no trend shift visible here.
2 Likes
Hi @JordanLee
The current total liquidity in the Nu network is:
Bid: 81486.1846 NBT (53.26%)
Ask: 71522.4125 NBT (46.74%)
It is broken down in the following manner:
Tier 1:
Bid: 31150.3903 NBT
Ask: 24644.2914 NBT
Tier 2:
Bid: 7799.21 NBT
Ask: 6207.757 NBT
Tier 3:
Bid: 38171.3292 NBT
Ask: 32918.0 NBT
The network wide balance is only slightly short on the sell side. However, because the Poloniex walls are currently only about 22% sell side and because we have had consistent problems keeping a sell wall at Poloniex the last few days, I am going to use my discretion to trade NBT for about 15 BTC with a community member who says he will put it on the Poloniex sell wall.
i have sent you a pm previously 
An entity previously unknown to me has approached me and expressed that they have had difficulty obtaining the NuBits they would like in recent days. They are not a liquidity provider and wish to hold the NuBits as part of a speculation that BTC is in decline at the present. They have asked to purchase 17,000 NBT. This is in shareholders’ interest and is not expected to unbalance liquidity, therefore I am using my discretion to engage in the wholesale trade.
After these two trades conclude I will have less than half of the 100,000 NBT that was just granted to me. This is further confirmation that the additional 150,000 NBT grant I have requested is indeed needed and urgent. Please vote for it.
Edit: we actually completed a trade of 10200 NBT for 30 BTC. Another transaction is planned.
3 Likes
@JordanLee:
At what level are T4 buy side funds now and after the purchase of 17,000 NBT?
(with the FLOT being installed, a look at the unspent output on the multisg address would do…)
@all
What to do with T4 reserves in excess?
What is considered “in excess” - or: how many USD in BTC will be needed on T4 buy side to mitigate “buy slow, sell fast” type of attacks; is a static limit of $80,000 appropriate?
Should the sell side reserves (NBT) grow if more NBT are in circulation - landslide effect and overwhelming success of Nu?
How long will Nu have to bear the volatility risk of BTC in excess and how to get rid of them if the illiquid NSR market doesn’t allow purchasing NSR at reasonable prices?
Is distributing a part of the BTC as PPC dividend the better or the worse option compared with sitting on BTC?
Would trading a part of the BTC to PPC (or bitUSD?) be an option to hedge BTC volatility?
The major drawback of @JordanLee handling the NBT sale on the one hand: single point of failure
is a big benefit on the other hand: he only need to find consensus with himself to act.
When do NSR holders realize that FLOT not only distributes the risk, but the consensus to release funds as well?
What do NSR holders expect to happen if Nu is need of action to have the peg protected, but the FLOT needs to discuss, because the members have different opinions what’s best for Nu?
As soon as the responsibility for the peg is in the hands of FLOT there should be a set of rules.
There will be need to adjust it, but I dare say that any set of rules is better than relying on the discretion of up to 7 people of which a majority needs to agree upon an action.
Those 7 people are all across the globe and it’s not very likely that they can discuss at the same time in a chatroom.
But they can see if a threshold has been reached and an action is triggered. Signing a multisig transaction to move funds can be done sequentially. Discussing across a lot of time zones is not easy. Finding a time slot to have the initial discussion about the fund management (-> FLOT) was hard.
If you want to know, I post the link to the doodle poll in which the potential members tried to find a time to discuss.
Do you think it will necessarily be better just because the peg is in danger? I bet most of us have day jobs. But our day is in different time zones…
Do NSR holders want to elect representatives that act on behalf of a clearly expressed NSR holder will or do the shareholders want to elect representatives who need to find out what they think is best?
I’m sounding frustrated, because I am. There’s a lot of ideas, but little participation; more or less the same people participate.
I’m just being a pain in the ass, because I think it’s necessary to sound things out.
You need to wake up and use the time while there’s still plenty!
2 Likes
Hi @huafei
The current total liquidity in the Nu network is:
Bid: 78815.5266 NBT (50.59%)
Ask: 76975.6684 NBT (49.41%)
It is broken down in the following manner:
Tier 1:
Bid: 28385.9255 NBT
Ask: 29034.42 NBT
Tier 2:
Bid: 8054.08 NBT
Ask: 7263.194 NBT
Tier 3:
Bid: 37866.996 NBT
Ask: 32918.0 NBT
it is hard to be decentralized!
most NBT users will just need to secure their money from BTC volatility. they don’t care about the way NBT
is working although they should!
but it is like fiat system. FED do all the work and all of us just use their money
we try to do something very new here and of course it is very hard.
i hope NU will not become victim of its success!
1 Like
Hi @ttutdxh
The current total liquidity in the Nu network is:
Bid: 89091.8028 NBT (56.22%)
Ask: 69388.316 NBT (43.78%)
It is broken down in the following manner:
Tier 1:
Bid: 38741.649 NBT
Ask: 22178.2049 NBT
Tier 2:
Bid: 8844.56 NBT
Ask: 6539.747 NBT
Tier 3:
Bid: 37040.598 NBT
Ask: 32918.0 NBT
what is the purpose of T3 balance? shouldn’t T1 be balanced as our first priority?
T3 is just NuLagoon. I don’t know the numbers right now, but it’s possible NuLagoon is balanced on tiers 1-3 and it’s the ALP’s that are out of balance.
1 Like
19800 NBT was just sold for 60 BTC for the purpose of holding for a time as a speculation against other cryptos (it wasn’t sold to a liquidity provider that is going to bring it to a sell wall).
1 Like
Hi @Cybnate
The current total liquidity in the Nu network is:
Bid: 88938.836 NBT (59.67%)
Ask: 60103.1165 NBT (40.33%)
It is broken down in the following manner:
Tier 1:
Bid: 38313.6466 NBT
Ask: 12710.3114 NBT
Tier 2:
Bid: 8739.27 NBT
Ask: 6722.441 NBT
Tier 3:
Bid: 37647.144 NBT
Ask: 32918.0 NBT
Or maybe also choose for some exchange risk without volatility risk and add more funds on NBT/USD pairs? Just spreading the risks across multiple pairs with different risk exposure sound appealing to me in context of potential short-term attacks.
Hi @JordanLee
The current total liquidity in the Nu network is:
Bid: 95282.9653 NBT (58.97%)
Ask: 66287.9026 NBT (41.03%)
It is broken down in the following manner:
Tier 1:
Bid: 45221.1809 NBT
Ask: 18894.9605 NBT
Tier 2:
Bid: 8818.38 NBT
Ask: 6722.578 NBT
Tier 3:
Bid: 37647.144 NBT
Ask: 32918.0 NBT