Decentralized long term USNBT purchase and burn program

week 9/52

NBT purchased: 47265.94 NBT
BTC spent: 0.32587913
price/BTC: 0.00000689
price/USD: 0.0726

burn txid 56c249ad713a571580892011afef24a54292feb0d93d09c364d37c0641f42a08
https://explorer.nubits.com/block/2611791

5 Likes

week 10/52

NBT purchased: 44670.08 NBT
BTC spent: 0.32587913
price/BTC: 0.00000730
price/USD: 0.0751

burn txid d7f0ff2e948483d71aad94ed8fa9b34021b24d147c007d47d37ae3cdead9091f
https://explorer.nubits.com/block/2622571

1 Like

week 11/52

NBT purchased: 52301.86 NBT
BTC spent: 0.32587913
price/BTC: 0.00000623
price/USD: 0.0638

burn txid 6e30a007102431751ea5ba4fc31c12811d6dfeaa87a6eaa428f38073fb4058da
https://explorer.nubits.com/block/2632031

week 12/52

NBT purchased: 45523.57 NBT
BTC spent: 0.32587913
price/BTC: 0.00000716
price/USD: 0.0567

burn txid 2722ef3554b0d417d684dd051d510cc50cb034aa5fbfc6b32ed8a437e35d6b30
https://explorer.nubits.com/block/2644314

The first quarter of this 1 year USNBT purchase and burn program is coming to a close this week. The beginning of the second quarter comes with a repricing of NSR and a choice for @smooth: he can elect to continue purchasing NSR at its current price, or he can elect to purchase and park USNBT.

Here is the price of NSR each of 14 days prior to the last BTC transfer, average price and other info:

Date Price
09/15/2019 0.000621
09/16/2019 0.000621
09/17/2019 0.000579
09/18/2019 0.000432
09/19/2019 0.000612
09/20/2019 0.000615
09/21/2019 0.000509
09/22/2019 0.000683
09/23/2019 0.000609
09/24/2019 0.000629
09/25/2019 0.000565
09/26/2019 0.000379
09/27/2019 0.000498
09/28/2019 0.000464

Average NSR Price: 0.0005582857
Investment amount: 50000
Number of NSR: 89559877.1750256

If @smooth elects to purchase NSR, he will receive 89.56 million for his quarterly investment of $50,000.

1 Like

I will be taking NSR. The purpose of the option was to provide an out if NSR were to drasticaly increase in value (I wanted to avoid being forced to buy it at an arbitrarily high price), although IIRC there isn’t anything explicit about this reasoning, so I could still elect to receive and park USNBT. Clearly that hasn’t happened and I will go with NSR.

BTW, my most recent burn was added as an edit to my previous reply here. I wasn’t able to make a new reply because the forum limits to 3 in a row by one account.

2 Likes

@Phoenix and @smooth

You guys already burned 1.016.659,99 USNBT and used $70.126,15 for this but I don’t see anything happening with the price. When do you guys think something will start showing?

The price of USNBT has vastly outperformed most other cryptocurrencies for the period this buyback program has been running. Since late June when this program started, cryptocurrency excluding Bitcoin is down a full 50%. The difficulty of growing in a sector that contracts 50% in 13 weeks cannot be understated. US NuBits hold 75% of the value they had on June 26th, the recent peak of the cryptocurrency market. If you invested an equal amount of money in an average cryptocurrency and US NuBits on June 26th, your USNBT would be worth fully 50% more than your average cryptocurrency. While it is not emotionally satisfying to lose value for any reason, the performance of USNBT has been objectively outstanding compared to its peers. We outperformed peers by 25% in a single quarter. If we can continue that performance, we can be confident the peg will return.

week 13/52

NBT purchased: 48094.32 NBT
BTC spent: 0.32484837
price/BTC: 0.00000675
price/USD: 0.0562

burn txid 10774f6ddef3a487ac2e064f1bf230b982d6df6d34043a048d9aa66e793a5805
https://explorer.nubits.com/block/2651172

1 Like

week 14/52

NBT purchased: 59259.95 NBT
BTC spent: 0.4635954
price/BTC: 0.00000782
price/USD: 0.0655

burn txid 8bfb5f046c1ee220a902240e27b646b03202a9e60cf3144f341e49d52c69c23b
https://explorer.nubits.com/block/2662215

week 15/52

NBT purchased: 61687.71 NBT
BTC spent: 0.4635954
price/BTC: 0.00000752
price/USD: 0.0607

burn txid 537697766a6b8102eee4a56f60bd38005361b6245c7a07b10e963b1a811bd229
https://explorer.nubits.com/block/2671846

week 16/52

NBT purchased: 68652.76 NBT
BTC spent: 0.4635954
price/BTC: 0.00000675
price/USD: 0.0547

burn txid f52f6db41cf67e7ef66b5124da14d3baff890c3af80f686e56e2b80c63185e11
https://explorer.nubits.com/block/2679192

How much NBT supply is left?

1 Like

@Ghaleon There is about 15 million left in circulation. Recently someone parked about a million (don’t know who it was; not me), which I guess could be viewed as a signal of confidence, but who knows.

2 Likes

week 17/52

NBT purchased: 75490.37 NBT
BTC spent: 0.4635954
price/BTC: 0.00000614
price/USD: 0.056

burn txid 032d6d5000dc98fc4cefef559e0459084d5722c86dca99cec0d2688ddb4b7521
https://explorer.nubits.com/block/2684264

You burned the same twice?

Even after all these burn’s the price has not increased a bit.Infact the price is going down.

@EwoutM Not sure what you mean about burning the same twice. There was an error where some of the posts had the wrong week number so I edited that and didn’t change anything else.

Week 18 is in progress now.

As mentioned above by a couple people, including myself, this is actually a good thing. We want to delay a price rise for as long as possible, so the buybacks have maximum effectiveness in burning as much supply as possible. The less NuBits there are, the less Nu owes.

3 Likes

week 18/52

NBT purchased: 65223.54 NBT
BTC spent: 0.4635954
price/BTC: 0.00000711
price/USD: 0.0628

burn txid 2c999d18a06a09dc8bf802e823343e4174289b64f19c5bdb6c8f2e29a308013b
https://explorer.nubits.com/block/2702206

week 19/52

NBT purchased: 72673.61 NBT
BTC spent: 0.4635954
price/BTC: 0.00000638
price/USD: 0.0546

burn txid cf8d67206d342fcc633162b8bda52e30246d18292a934f8163e80f229da2de03
https://explorer.nubits.com/block/2711248

1 Like

week 20/52

NBT purchased: 75438.24 NBT
BTC spent: 0.4635954
price/BTC: 0.00000615
price/USD: 0.0471

burn txid 6ea7b17e51cac21e6b6a9903e75b06decbd0b4ba526d18fbb79698ee9d4aa8fe
https://explorer.nubits.com/block/2721301

week 21/52

NBT purchased: 71553.36 NBT
BTC spent: 0.4635954
price/BTC: 0.00000648
price/USD: 0.0488

burn txid 37b959c832e54c7e655aa883d2b70000536d0a6913988c0ee368bd3907a5dd00
https://explorer.nubits.com/block/2729549

week 22/52
NBT purchased: 68234.09 NBT
BTC spent: 0.4635954
price/BTC: 0.00000679
price/USD: 0.0493

burn txid dd21fba13a981f49ae7a00c960124c87446f2557dbc5bc49ab91627194c7bcc7
https://explorer.nubits.com/block/2739801

2 Likes