FLOT BTC Operations (buy side)

Any word on me and cybnate balancing nuowned operations outside of contract? I’ll be sure to add it to a future motion so this will have shareholdrr consensus in the future.

Note that no price feed is used for this procedure, simply mutual trust of cybnate and I and our respective operations by shareholders.

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I focussed on “close spread” when I was writing my answer and misinterpreted your suggestion in the way that @zoro should put more funds on order at a close® spread. Stupid me.


I’d like more than just you to green light it.

So do you agree that doubling the bookwall might be a good idea?

Of course. But my post was buried in the thread.
I made a post to get a place for a focused discussion: Bypassing FLOT for NuOwned operations

Without market awareness as a function of NuBot, we need to be market aware.
I say, increasing both the spread (slightly) and the volume on order (a bit more than slightly) are good measures to show that there’s liquidity on the order books.

Current FLOT considerations

I don’t have everything loaded into my head, but I’m working on understanding it.

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re. bullet point 1: needs only one more signature.
re. bullet points 2 and 3: can be discussed here:

re. bullet point 4: makes sense for me.

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Signed and broadcast: 5a65cb896f0dbfb3ee2e4fe22de3ae4331a8a8e3f1dce04ccc167e33006df8f8


I would prefer not to do that personally. I presumed we were headed toward selling them in a way similar to what was done with share buybacks. With buybacks, we started with a wall at 70% percent, then raised it to 80%, then 90% then 100%. With an NSR sale, we could start above the market price and move down. Because 100 / 70 = 143 we could start at 143% of the market price, then 100 / 80 = 125%, then 100 / 90 = 111%. I am not set on this method, but it seems like the method that is most consistent with established procedures. I realise there is an argument for keeping the trades off the exchanges, however. I don’t have strong opinion about which approach is best, and it doesn’t matter too much what I think. NSR FLOT signers are the decision makers here.

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In the past we have used blind auction to sell. It’s also referred to in the standard motion:

I am concerned about making this seem like a bailout instead of a crowdfunding activity. We should advertise it as a crowdfund and do it off-exchange.

Wanna revive seeded auctions?
For the record: that is my opinion as FLOT member.

I really don’t want to be auctioneer, I’m about to disappear for a couple months. I can open source what I have if you want and you can check it out.

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Thread is all over the place.

I can if needed, a bit messy in keeping track of the books to mix up both operations.

I understand the 4.23 BTC transfer haven’t been completed yet awaiting one other signer. I’m on standby to transfer the equivalent of NBT from Bittrex during the next 5 hours. BTC is still a quite jumpy. ($495 at time of writing) :frowning:

Re Poloniex, I have already transferred 2000 NBT to FLOT and will transfer the remainder once Poloniex clears my 24h cap in about 5 hours time. Given the discussion I assume @nagalim will then transfer the BTC into the gateway’s Poloniex account. Correct?

As a member of NSR FLOT i think that selling the right quantity of NSRs on Polo as opposed to the buybacks with the same kind of gradual price settings is straightforward. In this method, we need to determine:

  • the quantity of NSRs
  • the executor
    And then we can create the multisig tx.
    I do not think it will be perceived as a bail out. It is conforming to the price peg mechanism advocated by Nu, i believe.

To FLOT members:
if you don’t send BTC to my nubot gateway, i will increase spread to 4%, it is 2.8% right now.
Please advice.

How much btc left into FLOT reserves?

Just click the link in the OP you use if you craft a tx to transfer funds from FLOT reserve.

FLOT 5-of-8 multisig new
Balance of 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe is 11.55146791 BTC

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Wanna send some BTC to @zoro’s gateway, which might else run dry?
Or for sake of redundancy to one of mine?
I promise to use a large offset on buy side :wink:

Crafting a tx on mobile phone is a pain, but I’d happily sign one.
I can ramp up my gateway if need be.

@cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle

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I am fine with sending btc to zoro.
I am fine with sendinf btc to your gateway too.

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Can you please create one?