Current Liquidity

[zoro]

Very tempting! It can go even lower?

[masterOfDisaster]

I can offer to sell NBT for BTC on behalf of Nu and deposit the proceeds at a T4 address (like explained here).
However, I can’t offer a collateral, and I don’t want to use the 4.35 BTC which I currently have on hitBTC to trade directly, because they are tied to term 2 of modPuddle and I don’t want to violate the terms - I would forfeit my claim for compensation.

Don’t lower the wholesale rate in 0.002 increments and push the price down to $0.98 (or even lower) already!

Reminder:

[Passed] Proposal to create a strategic reserve of NuBits

The purpose of this grant is to create a strategic reserve of NuBits. There are only two circumstances under which the FSRT would transfer the funds granted:

1. If the sell side liquidity from other custodians becomes thin enough that there is a significant risk the NuBit peg will be lost before additional custodial grants can be passed.
2. If shareholders instruct the FSRT to transfer the funds via the passage of a motion.

If the first circumstance above becomes a reality the FSRT will have need to exercise its discretion about how the funds are used.

Hell, use your discretion! Protect the peg! The sole benefit of having no strict set of rules is that you have discretion left.
The sell liquidity is thin enough that there is a significant risk the NBT peg will be lost.

What do you care for 1.x% loss by selling NBT at $0.98 in the face of the peg in danger?

My availability will be limited tomorrow, but I intend to create a NBT entry gateway on Poloniex using NuBot. Whether you use it or not is up to you!

[Nagalim]

@seki would you consider selling at $1.02 and making even more profit and helping to stabilize the peg?

[seki]

Of course, in what way?
Even at 1.01 the profit is there

[Nagalim]

I assume you are buying nbt from @fsrt and putting them up on polo using the alp bot. Just use offset = 0.02. You won’t get the ALP reward, but you’ll make an extra percent on the sale.

[FSRT]

An additional 8500 NBT has been sold for 25.1377 BTC, which are, as always, eligible for share buyback.

The Poloniex sell side is still 0. Is anyone able to bring NBT there?

[Lako]

Guys…price is $1.11 now. Why is the peg not stable? This doesn’t look good for our reputation.

[zoro]

and it will keep rising if reserve NBT don’t make it to polo ASAP.
LPs cannot help anymore!
@JordanLee, can you personally put some of your 150k to polo ?

[FSRT]

Due to the persistent and significant problem of not being able to maintain any sell wall at Poloniex, we are now selling NBT for 0.97 to known community members who promise to either place it on the sell wall using ALP or NuBot or alternatively sell it at the market rate for BTC at Poloniex.

PM us here or Bitmessage us at BM-2cWWSMDmcUtMw4kU352wtDCe91xrEUmKfW.

[huafei]

what is your time online？ 7x24？

[FSRT]

We are here now, and we will be watching quite closely in the hours and days ahead to ensure the liquidity needs of the network are being met.

[zoro]

i am afraid that if you continue to drop the sell rate then custodians will “always” wait to buy even cheaper!
i hope not, but there is a possibility

[huafei]

profit here ，more fund will come

[Yurizhai]

Didn’t @JordanLee 's 150K custodial grant just pass? Why isn’t that being used?

[dysconnect]

I have no BTC and I can only offer collateral in BKS, $5.5 each. I’ll put the NBT on the wall at a flat rate of around 1.02 USD (or a price that gives the target BTC amount) and return you an amount of BTC calculated at purchase. I’ll take a price of 0.98 to adjust for the overhead.

I can also put up NSR as collateral in addition to BKS if you wish to trade up to 25k NBT.

[JordanLee]

Didn’t @JordanLee 's 150K custodial grant just pass? Why isn’t that being used?

It did pass and I am watching closely. However, there isn’t anything I can do that FSRT isn’t already doing.

[Nagalim]

If NBT is deposited to this address:

BQCBzjyLXwJ12TAAmd4vGRcSpzQNAyAW2v

It will be placed at $1.005 sell on the NBT/BTC pair. Once given an address for T4 by either JL, the FLOT, or the FSRT, I will begin sending BTC from that account. Buy side is set at $0.95. I have a $2,000/day limit on that account. The ALP rewards will be sent to an address that I own. In the event of ceasing operation, I will continue to withdraw BTC from that address, assuming my limit of 25,000 NBT/week is not exceeded. If that situation occurs, I’ll do my best. This is hashed here:

[Draft] Sell-Side Custodianship

Motion RIPEMD160 hash: tbd =##=##=##=##=##=## Motion hash starts with this line ##=##=##=##=##=##= Reason and Method In times when distribution of T4 funds is at a critical point, reminiscent of the previous operations of @jmiller and @KTm, funds will be given to trusted shareholders to sell on-exchange with little or no collateralization. @Nagalim, as well as any member of FLOT, FSRT, @JordanLee or any future collaboration with extended Nu network powers is encouraged to provide such a ser…

[FSRT]

If NBT is deposited to this address:

BQCBzjyLXwJ12TAAmd4vGRcSpzQNAyAW2v

It will be placed at $1.005 sell on the NBT/BTC pair. Once given an address for T4 by either JL, the FLOT, or the FSRT, I will begin sending BTC from that account.

Thank you @Nagalim. 10,000 NBT was just sent. Please send all BTC proceeds to 1AjwGizTzJuw418Mhb38NfF2uEkwPEeyBW as they are available.

[seki]

i can go for sleep now

[Nagalim]

I need to be careful, some people are running with a 0.02 spread and a 0.025 deviation, meaning they drift over the line sometimes. I can’t get the client to credit me money, so that sucks, but hooray for having liquidity again.