Decentralized long term USNBT purchase and burn program

Would like to know the circulating supply too coz in grafana its always at 15M.

We have changed the USNBT figures in Grafana so they are no longer rounded.

Here is what it looks like, in the USNBT Supply section:
cropped supply

Another interesting fact, retrieved by @woolly_sammoth, is that the maximum blockchain USNBT money supply was 70,986,271.5658 USNBT on 2019-05-05 22:09:38. That figure is 67,860,981.736 now.

Since peak money supply, we have had two weekly USNBT burns while also disbursing USNBT for network expenses. The net amount burned since peak is approaching 2 million USNBT. We have reduced the circulating supply, excluding parked USNBT, by more than 10% since the peak money supply.

The supply of most blockchain assets is increasing constantly through mining rewards. A few have stable supply. But USNBT is decreasing at a rate of more than 10% per year! It’s backed by a 6 year old crypto project with remarkable transparency. We have stated it is our priority to manipulate its value to $1.00, as we have done for so long in the past. USNBT isn’t a low risk investment, but there are special and compelling reasons to think it offers a remarkable risk to reward ratio.

2 Likes

I think you guys have the supply side figured out which is great but we also need the demand side to increase. If supply decreases and demand decreases well I don’t need to explain.

1 Like

week 39/52
NBT purchased: 89802.05 NBT
BTC spent: 0.52556923
price/BTC: 0.00000585
price/USD: 0.0421

burn txid f6c2b19b1b28b5108293b0a79759a8ce662dffd4ce3d82c80ce7c88d321248cc
https://explorer.nubits.com/block/2927613

We’re running a bit late due to some delays behind the scenes. Sorry for that.

The next quarter is funded and we’re ready to move on to week 40.

1 Like

week 40/52
NBT purchased: 92596.06 NBT
BTC spent: 0.61617331
price/BTC: 0.00000665
price/USD: 0.0512

burn txid ae8478fb7b8699d2cd8e30ed54c994dd6923aa51f3c65cbc2f348dafab324e74
https://explorer.nubits.com/block/2944901

1 Like

week 41/52
NBT purchased: 91429.11 NBT
BTC spent: 0.61617331
price/BTC: 0.00000673
price/USD: 0.0591

burn txid f366e2f47d3f7935240e4d12e15827880b70280c621a4c639d74b94413e7c4fc
https://explorer.nubits.com/block/2950725

week 42/52
NBT purchased: 86315.75 NBT
BTC spent: 0.61617331
price/BTC: 0.00000714
price/USD: 0.0692

burn txid b90071594882d8aef306191d3e6d9b835b617672ff5a7516a4fbc77cfeb115a1
https://explorer.nubits.com/block/2964647

week 43/52
NBT purchased: 89378.24 NBT
BTC spent: 0.61617331
price/BTC: 0.00000689
price/USD: 0.0656

burn txid d9b9b6ba04bfbc3c2b9475edfd182f3e30d9fc8538fa936843de90998997bd98
https://explorer.nubits.com/block/2975459

1 Like

@smooth, I have 38669.8625 NuBits that I need to liquidate for BTC. I wanted to first come here and ask if you’d like to purchase them from me during your next buyback. They will end up on exchanges where you will most likely buy them back anyway, so I figured it made sense to skip the exchange step and do this OTC. Please let me know what you think, thanks.

@Sentinelrv

I’d rather just stick with doing it on the exchange so there is no possible question about the pricing being right. The good news is that you can take advantage of the liquidity I’m providing on the exchange to sell.

week 44/52
NBT purchased: 84489.0
BTC spent: 0.61617331
price/BTC: 0.00000729
price/USD: 0.0651

burn txid 9a97d7b561bf497a9e9724fd8e0ab1754a734b09de58c4d8247cc90050f50dae
https://explorer.nubits.com/block/2988195

3 Likes

week 45/52
NBT purchased: 84945.73
BTC spent: 0.61617331
price/BTC: 0.00000725
price/USD: 0.0732

burn txid 2481bada1709d348e7a760688f6208431b09203bcf756b178399215d8ead1759
https://explorer.nubits.com/block/2998003

1 Like

Hello all. Due to a personal emergency I was unable to complete the weekly buy and burn. I will complete it ASAP and catch up with the next week.

week 46/52
NBT purchased: 58217.90
BTC spent: 0.61617331
price/BTC: 0.00001058
price/USD: 0.0999

burn txid 4172240b5839ff838bdd18a0e3d736fdab482444cd7e391d106a4c9f612217b8
https://explorer.nubits.com/block/3022161

Looks like the NBT price is rising quite a bit.

3 Likes

Definitely appreciate your efforts. Though my concern the balance between nsr and nbt is at an unsustainable place right now. The liquidity ratio is almost at 5x.

week 47/52
NBT purchased: 56706.17
BTC spent: 0.61617331
price/BTC: 0.00001087
price/USD: 0.105

burn txid b8b91faede13dfdb9298d558fa906495c55dc7d15e00100b4bb6575c823858b2
https://explorer.nubits.com/block/3040239

EDIT: burn info above was previously incorrect. Now fixed.

week 48/52
NBT purchased: 52603.44
BTC spent: 0.61617331
price/BTC: 0.00001171
price/USD: 0.108

burn txid 128599abc7aaf4744605bdb0c44b2e22b77c88a9244cd82d33e70de807808fb0
https://explorer.nubits.com/block/3040248

week 49/52
NBT purchased: 50488.93
BTC spent: 0.61617331
price/BTC: 0.00001220
price/USD: 0.112

burn txid d91d86d34ecd83c2ed5ec620a0739b18c2203e14c40a33fae974f41ac56c5570
https://explorer.nubits.com/block/3042924

week 50/52
NBT purchased: 48062.57
BTC spent: 0.61617331
price/BTC: 0.00001282
price/USD: 0.119

burn txid 4ac35d59e4c19d887c2828330ec91a1fb863c94f95a194f05ef8fb93104932fd
https://explorer.nubits.com/block/3053940

week 51/52
NBT purchased: 53122.15
BTC spent: 0.61617331
price/BTC: 0.00001160
price/USD: 0.109

burn txid 7e239c6250e9dcde8f14e619f591c628464ebb2a690b0613331677aa01ff2542
https://explorer.nubits.com/block/3071318

2 Likes

USNBT is currently $0.16. That’s a pretty big jump upward from a month ago.

We are serious about restoring the peg. The number of US NuBits in circulation continues to decline at more than 1% per month. While BTC has about the same price as before the March coronavirus drop, USNBT is up around 150%. Probably the most important reason is that the USNBT circulating supply is in rapid decline due to two USNBT purchase and burn programs, while the Bitcoin supply is still being added to with every block. Not only is the USNBT supply rapidly declining, but you can receive interest near 30% without counterparty risk. It is an incredible opportunity.

1 Like

Do you know if the 3rd purchase and burn program with BarterTrade is still on the table? Last update from them was in December here…

Looking at their Twitter, it seems like BarterTrade has made significant progress toward their goals.

@torjusg of BarterTrade: can you give us an update please?

Given the updates in the crypto space since the peg was lost in 2018, people now have opportunities to earn 12% APR on stablecoins and some are clever enough to get more than that via defi loans. Is there a plan to stay competitive with this after the peg is restored? @Phoenix

Hey guys

Sorry for the lack of updates. We have been struggling with funding for a long time now, but we have finally gotten enough funding to start operating. We will have to go back on the agreement with the buying NBT and NSR, since our funding is still insufficient for that kind of investment. However, we can continue talks on listing.

If something changes and your funding situation improves in the future, do you imagine there is still a chance things could change in this regard?