So this would be T4 buying nbt at $1.05? NLG pockets the 10%?
Oh darn you’re right, @henry can you make the offset 1 sided so the seling price remains the same?
We still think a large size of buy order looks more confident.
We can refund the spread of selling NBT to FLOT
Larger would be better of course but this is all the funds we have and I feel it’s important to put them up on both Polo and the Tube. We need to make sure that we don’t increase the price of buying Nubits so if the tube can’t be set to buy Nubits at 0.95 and sell at 1.00 then I’m in favor of sending all the Poloniex on @Zoro’s bot.
We are OK to these options. Just want to say again:
The most important is begin NSR selling asap! Buy side won’t stay long at any large spread if there is no other NBT exit provided.
We need to stop this…it is madness. There is no confidence in NBT right now. Everyone wants out and they will pay the 5% - easy.
We need to spend the BTC left on implementing Creon’s hardfork. This will reduce NBTs outlying liabilities.
We need a passing motion for that!
We should stick to the process which is already established. I believe the whole NSR and project worth more than the size of NBT circulation.
I believe very strongly in this:
Send all btc to polo, buy the stuff at $0.6 at least.
If we can cross the chasm, i think you’re right.
This is anarchy.
FLOT is still elected. You all have to decide. You still hold the BTC. I just offered my 2 NBT that we’d be throwing it away now. Pearls after…
I am still hesitating on that since i d like to know what Nu is going to do over the next few weeks to go on.
Hour after hour the situation here is getting worse than the BTC block size debate.
The difference is: while BTC’s debate might last for weeks or months and Bitcoin might remain relatively functional, I can’t say the same for Nu’s situation here.
There are 25.6btc (17228 nbt) sell orders placed below 0.993*feedprice (0.001723btc). A buy order placed at that price will instantly clear those orders. Whether traders read the transaction post and reacted accordingly or not (from the perfectly matching numbers), the above amount will be consumed in milliseconds, not many satoshis will show up on the buy side.
Let’s not try to catch a falling sword with the last bits of our hard currency. The funds signed off by FLOT is not only for liquidity, but also for develpment. I’d rather have some fund which could be useful.
I do not recognise this. Grants are for development funding, which are in NuBits. Providing Bitcoins from Tier 4 for development while withholding them from and bypassing general NuBit holders seems against NuLaw, although perhaps not strictly the wrong approach.
Seeing as the situation is such of a wall presumably having little effect at this point, and the rest of FLOT either exercising discretion or is unavailable, I think we’ll need a plan passed as motion. I myself is as of yet not confident enough about a specific approach to invoke discretion.
I agree having funds should be useful. I think those funds should have needed to come from NuShare sales, but discretion may leave room to do it like you suggest. In any case that’s what appears to happen.
I asked for a summary about what’s going on here.
Meanwhile I’ve found one, but on my way through the forum I have found the answer to this. I don’t know if it’s still valid:
I’m trying to understand this “tiered” liquidity. Is the post from which I quoted still the reference?
search “development” in Tier 4 Fund Management Discussion
I can’t find where the original idea of having development fund also in T4 was from but it’s always been my understanding that the FLOT has responsibility there.
New address with the remaining members in lexicographical order: