Decentralized long term USNBT purchase and burn program

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.


week 18/52

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

burn txid 2c999d18a06a09dc8bf802e823343e4174289b64f19c5bdb6c8f2e29a308013b

week 19/52

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

burn txid cf8d67206d342fcc633162b8bda52e30246d18292a934f8163e80f229da2de03

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

week 21/52

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

burn txid 37b959c832e54c7e655aa883d2b70000536d0a6913988c0ee368bd3907a5dd00

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

burn txid dd21fba13a981f49ae7a00c960124c87446f2557dbc5bc49ab91627194c7bcc7


Withdrawals are temporarily disabled at SouthXchange, which is preventing the USNBT targeted for this week’s burning from being withdrawn. We expect deposits and withdrawals will be enabled soon, and the burn will be completed.

week 23/52
NBT purchased: 70000 NBT*
BTC spent: 0.4635954
price/BTC: 0.00000662
price/USD: 0.0466

burn txid 142e1eb6203fbdf29193164a0f811dd6eb2501f5299dfae6d194b4154764c90b

* In addition to the wallet issues mentioned above, I had another technical issue with the trading engine and/or web UI where some trades were going through but not being reported. As a result I ended up buying too much NBT (using some of my own BTC in addition to the budgeted amount), around 10k-20k extra. Without digging through the detailed trading records, which would be very time consuming, I can’t tell exactly how much NBT was purchased using the budgeted amount, so I have withdrawn and burned the (generously) estimated amount of 70000. In fact, the price paid for NBT was subjectively higher this week (therefore the quantity purchased lower), as there did not seem to be much aggressive selling. Perhaps the market is starting to tighten up? We’ll see in upcoming weeks.


week 24/52
NBT purchased: 69083.47 NBT
BTC spent: 0.4635954
price/BTC: 0.00000671
price/USD: 0.0483

burn txid d00573e9eb342c79983bd2f284e315bd6dba087e7662ad831440c406abefb928

week 25/52
NBT purchased: 75052.04 NBT
BTC spent: 0.4635954
price/BTC: 0.00000618
price/USD: 0.0451

burn txid 117708feb716511d8a5aef9743c40176a6a20866acc4d5b0e188e0907947560e

1 Like

@smooth has funded the third quarter of the buyback program. Using the methodology detailed in the original post, the NSR price is $0.000610571. At this price, the $50,000 investment equals 81,890,500.7019 NSR.

The December 28th close price for BTC is $7,317.99.

50,000 / 7317.99 = 6.8324 BTC to be sent to 3Lv9C4JtFQmVMhFtyYK43GncwweMi341NT.

It has been received.

The six months that this USNBT buyback program has been running have been a difficult time for all blockchain assets, which have declined an average of around 50% since their peak six months ago (excluding Bitcoin). USNBT has outperformed in this difficult environment. Buying a crypto that has a constant buyback program is certainly better than buying a crypto that doesn’t. While most cryptos increase in supply steadily, USNBT circulating supply is contracting by more than 1% per month. As this continues for another 6 months, it is expected that it will raise the price of USNBT, which should bring more attention to what a compelling purchase they are, prompting a restoration of the peg as in 2016.

1 Like

week 26/52
NBT purchased: 79925.64 NBT
BTC spent: 0.46377686
price/BTC: 0.00000580
price/USD: 0.0418

burn txid ef6fcbc828280fc8a73e3c327f0c64ee26ccf1635aa7a1fb6a9a20896c4b3e15

week 27/52
NBT purchased: 81272.90 NBT
BTC spent: 0.52556923
price/BTC: 0.00000647
price/USD: 0.0517

burn txid f22b710aed6407124f6a0e7f4d37669233164c13590fb183cbfe474e991d32ed

week 28/52
NBT purchased: 83700.72 NBT
BTC spent: 0.52556923
price/BTC: 0.00000628
price/USD: 0.0548

burn txid 7a4522a89e06235a3e30ad7d22451d49e3d2878e325a44718a32a4acb1a517ce

week 29/52
NBT purchased: 82202.20 NBT
BTC spent: 0.52556923
price/BTC: 0.00000639
price/USD: 0.0557

burn txid f02e68273e32dc9638f8f6dcbe2811e6c692a0860a90631312dacf823828226c

week 30/52
NBT purchased: 80873.20 NBT
BTC spent: 0.52556923
price/BTC: 0.00000649
price/USD: 0.0611

burn txid a51d8e74408309272f36e583c97234a04968b7fe3b4df3d3dcec24d9b8925dd9

week 31/52
NBT purchased: 77349.63 NBT
BTC spent: 0.52556923
price/BTC: 0.00000679
price/USD: 0.0663

burn txid 20513d3f8d62d77ab45c4ac47b91457317c3e7540caab149e272d0aade9e229f

week 32/52
NBT purchased: 74480.26 NBT
BTC spent: 0.52556923
price/BTC: 0.00000706
price/USD: 0.0737

burn txid e0cf1f05f040de6dfd319f8b56e889eb9560dd3424722b163171594a887a8f03

Sorry for the delay, all. I completed the purchase last week but got tied up with something before I did the burn. I will complete the burn right now and then move on to the next week.

week 33/52
NBT purchased: 80347.19 NBT
BTC spent: 0.52556923
price/BTC: 0.00000654
price/USD: 0.0603

burn txid db35253845a989fc32e3e607f2df0b6bea5eb09f4cb35dfbd434ce7e2af80939

week 34/52
NBT purchased: 76493.52 NBT
BTC spent: 0.52556923
price/BTC: 0.00000687
price/USD: 0.0603

burn txid dc658397bebb3b446341c4f56a411902c070b597084403c8dba873541105575c

week 35/52
NBT purchased: 75410.75 NBT
BTC spent: 0.52556923
price/BTC: 0.00000697
price/USD: 0.0563

burn txid 959556f2a1f5e9305edda144e855eb8eb3f622c1da2f6a41fd3702a99eda6aef

week 36/52
NBT purchased: 110804.82 NBT
BTC spent: 0.52556923
price/BTC: 0.00000474
price/USD: 0.0244

burn txid 0d0538d443d84a589cfde6aebd7c2910e5df00cff82495d335f1ac450a9db0f4

Well, that was interesting. I guess we got to burn more coins…

1 Like

Nice burn, but still too much in parked and circulating.

Pretty massive buyback there in week 36. I wonder where we’re at on the path to restoration.

Is the circulating supply on CMC correct, or does it not include the updated numbers from the burns?

The supply on CMC has been wrong for years AFAIK. The are correct numbers on the grafana panel and the explorer (or you can get it from your own node if you are running one)

week 37/52
NBT purchased: 90307.46 NBT
BTC spent: 0.52556923
price/BTC: 0.00000582
price/USD: 0.0391

burn txid 39bd7772bc3e446fc8060cce5aa238a9317bbc0fd50767d4a13733b2df08dc14

1 Like

week 38/52
NBT purchased: 106035.33 NBT
BTC spent: 0.52556923
price/BTC: 0.00000496
price/USD: 0.0316

burn txid 657286cc32ff41340987440d1ec3fb3d99f5c2db6b1e0bd9aec220cc690b948f

Just to clarify the supply is 67million nbt right now?

That is total supply though. Most of those NBT are held by the team. I only wanted to know about the supply that is still in circulation. That would give us a better idea how much further we still have to go.