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.
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.
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)
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.
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
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 please verify and sign.
The tx fee is intentionally quite high to get the deposit trhough quite fast. We have other problems than spensing some cents in excess for tx fee.