I agree with 500, even though I already feel that’s dirt cheap…the problem is if we start undercutting ourselves continuously there is no incentive for buyers not to wait for lower prices.
500 Satoshis equals $0.02 at the moment.
That’s afaik more or less the price at which NSR were initially sold.
Including the PPC and BKS dividends, the price is still good.
Considering our current liquidity situation, I wouldn’t wonder, if we had to go far below 500 Satoshis.
Which raises another question: where (BTC rate or USD rate) should we draw a line and not go below?
All the way down to 1 Satoshi (I don’t think that’s going to happen, but…)?
1.2 million NSR is on order at 500 Satoshis:
I need to take a break.
I will refill the order to 1.2 million each time I adjust the rate.
I will reduce the rate by roughly 6% each step and make a step each 6 to 12 hours randomly chosen.
If you have suggestions how to improve the sale (alternative amount, full amount, reduced amount, other rate, which steps to take when lowering the rate, etc.), please discuss.
400 sat is ~0.002 $/nsr
500 satoshis is probably a good place to start. We may also consider beginning at 2.5k NBT per million shares.
there is a whale with 21btc on the buy side. so there are buys
I dont see mod’s sell order on the books
I have no explanation other than they get cancelled when NuBot shifts walls and deletes all orders.
The plan to have the proceeds automatically available for NuBot was good, but…
I’ll transfer them to my other Poloniex gateway account, where NuBot is in hibernation.
Just in case we’ll need that address again:
Sidhvfpo93KGVpbu9pM3LgyiPdgesnT1G6 (mOD Poloniex gateway account #2)
Now that we are replenishing the buy side by using the proceeds from NuSafe, i think we should try to reduce the amount of NSR in order and increase their sale price.
I d be more in favor of 1m at 600 satoshis.
You can’t decrease it below the standard. As FLOT you can increase the amount you sell, but you have to do the mandated sales. Or at least try to follow the mandated stuff, not like blindly or anything, but don’t just go changing the market actions willy nilly.
All right. Just noticed that the standard mandates 2.4m nsr.
In that case it should be 2.4m.
Remains the price variable which is not mandated by the motion.
PS: it seems that the standard motion gives us a good frame of reference for unlocking Tier6.
Does that mean, I should put all 2.4 million NSR on order at once?
done (2 NSR were used as tx fee):
Nah, the motion just says 2.4 mil by the end of the week.
What is the status of the sale?
The first 2.3 BTC were retrieved:
Final state of BTC proceeds from the auction:
What do we do with the next NSR that need to be sold?
We can safely assume that another round of NSR sale is required, although the buyback calculation will take place later.
@FLOT, what do we do with the NSR, that need to be sold?
Putting them on order at Poloniex again?
How much of them? By whom? I don’t want to forge ahead, but can do it again.
$4,762 or do we need to include the PPC calculation?
Current NSR price is approximately $0.0015.
4,762 * 0.0015 = 3.175 mil nsr for sale this week.
What about the PPC?
Not considered, because there is no PPC reserve?
How to bring the NSR to market?
If I were to sell them, I can do the same as last time: place several orders (I started wirh two and continued with three) and move the one with the biggest offset - and I recommend others to do the same. It worked quite well.