FLOT BTC Operations (buy side)

[Nagalim]

The situation is such that NuLagoon needs about $15k nbt while NuPool needs $15k BTC. The issue is that NuPool is not really affectable directly. Something else I’d like to point out is that if we balance NuLagoon we’ll probably be able to avoid an NSR auction come friday. Thinking that way can be dangerous because playing a threshold like that can lead to shady business decisions, however in my opinion that micro-manipulation is built into the system (because of the inherent transparency). Which of course leads to an interesting question: is it FLOT’s job to try to avoid (or at least time) NSR auctions while still obeying the rules set forth by shareholders?

Actually, this is part of a bigger discussion. It is the question of timing in general. Should FLOT attempt to time their txns to hit NuLagoon at a time when they will get a good price? Nu is in some respects day trading. Should there be a person who withholds broadcasting the txn in an attempt to micro-manipulate to get a good price?

[masterOfDisaster]

Valid questions.
In my opinion timing tx is far beyond the mandate and capabilities of FLOT.
How will you measure the FLOT performance if you intend to make an amendment of the mandate?

[Nagalim]

Nu could make a new position for someone who is given the fully signed txn to broadcast at good times. If it’s important enough Nu could hire a series of traders to have 24-7 service. Or we could design a bot or something.

[masterOfDisaster]

It will be important to avoid conflicts of interest between liquidity provision (funds might be needed urgently) and the right point of time to broadcast the tx (to better meet the goals of the broadcaster).

[Nagalim]

We can fix that by just passing around the txn at the same time as handing it to the bot or executor, so if theres a malfunction or whatever any flot member can respond basically instantly.

[masterOfDisaster]

moved to here:

State of NuBits - what are the next steps?

This is no perfect match for this thread, but fits better here than to where I copied it from: Important things to do, for which we don’t have a (sophisticated) solution yet. keeping documentation (including website) up-to-date improving the completeness of documentation providing bootstrap files that get regularly updated attract community members specifically people with financial background or people who have development capabilities; just imagine there’d be a few more Nagalims, willys, tt…

[Nagalim]

If I can get 5/8 agreement, I’ll send my BTC (~7.8) to Cybnate’s address:

1MxHW35Danbgm8kbi8f9gxJ73d39ro5hDS

[masterOfDisaster]

You mean the BTC from your T3 custodian operation?
At least I’m not aware of other funds you have and might send to @Cybnate’s PyBot account at Poloniex.
Afair @Cybnate has a withdrawal limit at Poloniex that’s below what’s already in the account.
We should ask her as well whether she’s fine with that deposit.
From FLOT perspective I’m fine with that transfer.

[Nagalim]

Yah, I can withdraw it to whatever address T4 wants me to.

I forgot about the withdrawal limit. @Cybnate can you start withdrawing so we can top you off? My deposit would be maybe 2 days withdrawal.

[Cybnate]

No problem. I can withdraw 2000 NBT right now and the rest tomorrow. Am I supposed to withdraw to the NBT multisig address: BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js?

[masterOfDisaster]

Am I supposed to withdraw to the NBT multisig address: BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js?

Where else?

And just for the record:
I am aware that this planned deposit by @Nagalim to your exchange account is not strictly following the wording of the grant, on which the T3 custodianship is based on:

[Passed] T3 Trusted Custodianship: @Nagalim - Second Attempt

If @Nagalim holds >$4,000 on either side of the pool for longer than 24 hours, funds will be moved to a Tier 4 address to bring the pool back to $2,500.

Your PyBot account address is no T4 address.
It just makes sense to do it that way.

I just thought I’d point that out, because of governance and so

[cryptog]

NuLagoon has too much sell liquidity.

[Cybnate]

Your PyBot account address is no T4 address.It just makes sense to do it that way.

I’m taking FLOT’s advice here

Just transferred the maximum of 1995 NBT to BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js. Will transfer the remainder later.

[masterOfDisaster]

The liquidity situation got derailed by BTC’s price jump.
The buy side is almost empty (except for e.g. @zoro’s NuBot gateway at Poloniex):

status of the ALP last 15 minutes:
bid total 7807 USD, bid side ratio 6%
ask total 116152 USD, ask side ratio 93%

I propose trading 65 BTC at NuLagoon Tube to balance the situation.
That leaves a remainder of 15 BTC that might be useful to fund gateways if need be.

65 BTC ($30,732) to NuLagoon Tube and 4.23 BTC ($2000) to Cybnate’s Bittrex PyBot account

Signed 1 of 5/8.
Please verify and sign

01000000078346707dfb579eeabe1160f78c3b42907a2c96105b86533406573ad8bd362f7602000000fd600100483045022100f7c846427746a0dcfd44e597a3e4c9be0e927c58e289edf4f889e4341ffb6c8b02200582884ea7c2b18a6fc2ccafb7467ba620b6c6d89dc4c26d26e49bfb445fad6b014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff09dc5201e706fd118ec4bf3d18fa93917df922b767f18fa35357d24e82455f8601000000fd60010048304502210094915bfe3ba318413feb59e927c4bcbff5b5ee672c40c4583443ba609dc5d182022020942f176231a5d5120e8376d58300237108282a25720fc5f14a7aef321a7780014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff2357bcf262975dba4a62282637db57aa636a7ecece2ba8ce396c363bed27470d01000000fd600100483045022100fad97444193adde04d5f58b6cb1b060f20e309d05747382de7aa98c6c80391a40220542c31f8d5807a8568b4a75c54cadd1368ab47138574b8eeaa4538a83e8c9204014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff0c3748c8fcb2bcec0e3acf2a1d6d02d7281bba6df580650d681406ddff6097be00000000fd600100483045022100bb0efe09858785d6e7836ab37ecf4a7afeda13a12d15f1fe06fed8aee9ef675e022076d1b62f6751b92c3885b3fc7faba09dafb55a56bf870d6f274c148a22fca31e014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff9c93bfd388c861cebe0c0282feddb828405c703ec7928b613c6c7f879fdfe5d001000000fd6001004830450221009265a5de5e8dcbad534c40a60cb29043bd079159e291af3197724562c18bef73022024a367bc24ebf9ca5f3fdd2f67f52734c7c84004a7b494b2deb517e58b36ad5e014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff062e4b2a9d8e6fe9b95e826be9509289a8dcfa64b5df0e97d404b9af569988f201000000fd600100483045022100b6bb90341c6f23b5c822428caf09cc20413b317a6afc9e34c652267537a000a902206808dc93f52b6e3f37bbc0dae071dfc28c808d41b6e5cf2ae2a3ecbe21b5e9e3014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f210326c19862fb329470c828ace6749b64c50b4d9a8da60d60e4e32ebe96b388b2ae21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff29b6d46a1cc82b43316656aa200d2d413b0b3b2805d8d6ca1debd70814f69ef103000000fd5f010047304402201b61e9afb7ddf648d177597c01d1a5e122840eb0b33ad63d96d965d15473cbfe02207f69553c4fdae5393892e7ddd3ee4f4286caf90d010e5e510409ba58d71e63a9014d130155210234139729dd413c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Paging @cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle

[masterOfDisaster]

I’m taking FLOT’s advice here

I thought that my comment could lead to this result.
And I seriously didn’t want to bring you up with it. I was rather trying to show that I only try to find good solutions even if they are subject of discussion.
Receiving the funds at FLOT’s NBT address was not really the direct result I tried to get, but thank you for doing it this way

[Cybnate]

Receiving the funds at FLOT’s NBT address was not really the direct result I tried to get, but thank you for doing it this way

Please let me know what you were after. It is is the first time a withdraw something so I was genuinely not sure about the address to use.

That leaves a remainder of 15 BTC that might be useful to fund gateways if need be.

Can I also balance the PyBot on Bittrex? I’m good to transfer about 2000 NBT in exchange for BTC. Is that ok?
Please let me know if it is preferred to have the funds transferred to another address.

[cryptog]

Please verify and sign

I agree on the tx but somehow i cannot get to add my signature on the tx.
It says that i have signed the tx though.
I get the following. Can someone confirm that it still has only 1 of 5-8?

Edit: removed the tx.

[masterOfDisaster]

It shows signed by one if I verify that tx.
I don’t know what’s wrong, but we might just start a new tx. I forgot to remove some inputs after I decided to leave some remainder for balancing gateways.
Because @Cybnate asks for balancing the Bittrex PyBot, a new start might make sense.

[masterOfDisaster]

I’ve updated my post. I recommend you try again

[masterOfDisaster]

Please let me know what you were after. It is is the first time a withdraw something so I was genuinely not sure about the address to use.

I was referring to this post:

Where else? And just for the record: I am aware that this planned deposit by @Nagalim to your exchange account is not strictly following the wording of the grant, on which the T3 custodianship is based on: Your PyBot account address is no T4 address. It just makes sense to do it that way. I just thought I’d point that out, because of governance and so

The withdrawal to FLOT could have been replaced by a withdrawal to @Nagalim’s NBT T3 custodian address in exchange for BTC, which he proposed to send to your account.
That’d be not according to the mandate of those two operations, but saves tx. Both operations are NuOwned and so there’s trust in the both of you. Why not having you exchange funds if you think it’s good this way?
Discussion this first of course makes sense.

The straight-forward way is to make all tx through FLOT.