FLOT BTC Operations (buy side)

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.

Very true!

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.

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I believe very strongly in this:

Send all btc to polo, buy the stuff at $0.6 at least.

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If we can cross the chasm, i think you’re right.

Protocol Level Burning of NBT in Exchange for NSR at Dynamic Rate Similar to Park Rates / Voting will help.

This is anarchy.

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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.

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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?

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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.

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New address with the remaining members in lexicographical order:


redeem script:


migration transaction:


Please check the details @cryptog, @Dhume, @dysconnect, @masterOfDisaster, @jooize, @mhps, @ttutdxh, @woodstockmerkle


This means sorted by pubkey, right? that is what i see from the redeem script.

There are errors in the address. it uses my deprecated key. My current one starts with 0326. it has Dhume’s twice and missed ttutdx’s.

Are we sure 3 of 6 works?

the OP is a wiki. when the errors are fixed, could you copy it to the OP?

How many Bitcoins do we have on gateways?

@Cybnate @zoro @masterOfDisaster

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Zoro has none, he transferred all the NBT back to FLOT two weeks ago.
My status is unchanged since this post: [Decommissioned] PyBot passive gateway on Poloniex and on Bittrex
Not sure about MoD status. From memory, his last post in this context told that there are still some NBT and BTC at high spreads in the gateways.

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FLOT BTC Multisig #2: 25.74296065 BTC

"B9gXptkoqAApF3AFrQyhUbhSzvuEudxupt" : {
"buy" : 9211.0609,
"sell" : 13323.1486

Gateway Poloniex @masterOfDisaster: 13 BTC?

Total: ~38.74 BTC

Anything I’ve missed?

As Chief Of Liquidity Operations, I request 12 Bitcoins be sent from 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe to @jooize’s Poloniex BTC deposit address. The funds will be used for our daily NuBit purchases, which are currently running about 4 BTC per day.

I have been elected directly by shareholders to do this. I campaigned on a platform of immediate and strong support for NuBits, and that is what shareholders voted for. I revealed what my policy would be far in advance of my election, and it was endorsed by shareholders. This includes the 10% daily purchase program I asking you to fund now. It is clear this is what shareholders expect of you.

Who are the signers for FLOT BTC?

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