I’ve completed the first purchase of NBT
NBT purchased: 50065 NBT
BTC spent: 0.32587913
price/BTC: 0.00000651
price/USD: 0.0819
Burn will be posted soon
Process will repeat next week.
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Where are the NBT purchases being made? Are you buying in one big chunk each time or is it being spread out? I don’t see a 0.32 BTC transaction on SouthXchange…
In fact this week it was all purchased on southxchange but not in one chunk (which would often be quite expensive given limited liqudity) but rather gradually over a period of a few days.
Going forward I intend to buy whereever I can get the best price in order to burn the maximum number of NBT.
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I have begun the purchase of the second week’s installment of NBT, although I have not yet completed the burn from the first week (I required some clarification on some wallet functions, which I have now received) and while I have received a partially signed transaction from the Nu team for return of the second collateral installment, I do not intend to broadcast it until I have competed the first-week burn.
These steps should occur within the next few days at the latest.
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Burn has been completed for week 1
txid f41e0bb2251c787670b75af97371202c1d55dd26dff35330e5c8e1a162a6dd4d
https://explorer.nubits.com/block/2535989
3 Likes
Week 2/52
NBT purchased: 49109.84 NBT
BTC spent: 0.32625044
price/BTC: 0.00000664
price/USD: 0.0691
Burn txid 668f0b2fae85bcb87cb145d8ef7bb01deb7223aba0b0c349ff99f670f476568a
https://explorer.nubits.com/block/2540871
Week 3/52
NBT purchased: 55344.01 NBT
BTC spent: 0.32587913
price/BTC: 0.00000589
price/USD: 0.0621
burn txid 1ffe354f2d502590dbd5400e5429dcc2c073221d563f736ae9745404dbe3277f
https://explorer.nubits.com/block/2543769
Could not post in a separate reply because the forum blocks 3 consecutive replies
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Hello Smooth,
You didn’t burn any NBT this week?
Last week was week 3 (see burn above). The burn happened quite early in the week because I was able to buy NBT quickly from aggressive NBT sellers.
As you can see from the multisig address we are now in the fourth weekly cycle.
https://www.blockchain.com/btc/address/3Lv9C4JtFQmVMhFtyYK43GncwweMi341NT
For next week (4), the NBT buying is going a bit slower and is still in progress.
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Week 4/52
NBT purchased: 56430.31 NBT
BTC spent: 0.32587913
price/BTC: 0.00000577
price/USD: 0.0555
burn txid 18a9e8a0aeaa5d63ed54da062b2888bea747c8525b490ba977a7e5507ab616ac
https://explorer.nubits.com/block/2557952
Any idea why price is going down with the burns instead of up? A bit concerning.
My guess is everyone assumes it is dead, so only a small percentage of NBT owners are paying attention and know about the burn programs. I’m not sure that is a bad thing though, as low prices means more burned coins at less cost to Nu.
Exactly. I’m more interested in maximizing the number of coins burned than short term price increases. The former will be a sustainable fix for the peg and not just a temporary pump. (Or at least the foundation of a sustainable fix, some further changes are needed to prevent the situation from happening again, but at least it moves in the right direction.)
4 Likes
Week 5/52
NBT purchased: 81251.01 NBT
BTC spent: 0.32588417
price/BTC: 0.00000401
price/USD: 0.0473
burn txid 437879ba6c6d0485a5e57aa762ce64f6de91e0e5e646803061fa84276538c92c
https://explorer.nubits.com/block/2571437
1 Like
Week 6/52
NBT purchased: 57031.39 NBT
BTC spent: 0.32587913
price/BTC: 0.00000571
price/USD: 0.0572
burn txid 22c09ee3ba2f55ec9168b66b01d5967b4f743ec9e9bbb378a01cf4e68a7bc83c
https://explorer.nubits.com/block/2581297
Week 7/52
NBT purchased: 40657.4 NBT
BTC spent: 0.32587913
price/BTC: 0.00000802
price/USD: 0.0832
burn txid f5a996393f3de0aefaccc0191a5671cdbadb3850d5b800577a5718b207b8c8f0
https://explorer.nubits.com/block/2593884
week 8/52
NBT purchased: 38696.81 NBT
BTC spent: 0.32587913
price/BTC: 0.00000824
price/USD: 0.0807
burn txid e37683eb9d7ae0d261263c010667463d25b0570dac2b543423c9c18626567e10
https://explorer.nubits.com/block/2603799
1 Like
Since this USNBT buyback and burn program began two months ago, the total market capitalization of the entire cryptocurrency space has declined 27%:
Of course, Bitcoin has outperformed the average while other cryptocurrencies have fallen even more than 27%, on average. This means that because US NuBits have maintained their value in this 2 month period, it is outperforming peers by more than 30% for July and August. If US NuBits continue this pattern of vastly outperforming the sector, we can be confident the peg will return.
1 Like
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.
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