FLOT NSR Operations (buy side)

[NuWorld]

We can certainly make it more clear. However, i greatly warn FLOT against automating the NSR spot price. The market is small enough that they should look at the recent trades and market orders directly to manually pick an estimated nsr valuation for the week.

I wasn’t suggesting that FLOT changes the way it calculates the amount of NSR to sell, only the way it reports the result of that calculation.

The options 1-5 were for how to decide what price to offer the shares at when the orders are placed on the exchange. I suppose it does make sense that the price used in the calculation of number of shares to sell and the starting offer price be the same, but that wasn’t what I was thinking when I wrote the post.

I agree it shouldn’t be an automatic calculation, but knowing what the options are makes it so you don’t accidently ignore a good one.

The sooner you get BTC into the reserves the better it is for Nu. Getting BTC earlier in the week is better than getting it later in the week, that is why I suggest a more aggressive initial sale price.

[NuWorld]

Taking the average rate of the recent sale into consideration is no bad idea either, right?At least unless there’s trade in the same order of magnitude in between.

But that can be gamed as well: a shareholder/speculator can dump NSR on the market just to increase the amount of NSR for the next sale, hoping to get the shares back at a cheaper rate.How to really find the “true” rate in such an illiquid market?

I wasn’t suggesting that FLOT changes the way it calculates the amount of NSR to sell, only the way it reports the result of that calculation.

You make a good point, someone could sell a large quantity of NSR right before, knowing that more was going to come onto the market quickly. That would certainly affect option 3 (and probably 4 and 5 too). Maybe treat the options as a menu and only choose the more agressive options if you don’t think manipulation is in progress?

About using the average rate of the past sale, that ensures that you start the current sale at a price that you couldn’t sell all the shares for last week. Unless people think the network is in better shape now than last week, it won’t be low enough to sell the shares.

[jooize]

I must have done something wrong.

createmultisig 3 '["02e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f", "03661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc", "03686ee42f635c71c08f326e66139b6cb37167402cc0562584655aac03fe740495", "039854d0e2abf6e4971e1350137b876da6a05132737c11ca3e37aaed2a0eb66808", "03d05d8fb69fcd289548140dde8e906f6fc217b02477f81842f2483d9ea1c92425"]'

{
"address" : "SvtGbNjWE49pTM2TiUZrYKSNkxTJx75mmC",
"redeemScript" : "532102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103686ee42f635c71c08f326e66139b6cb37167402cc0562584655aac03fe74049521039854d0e2abf6e4971e1350137b876da6a05132737c11ca3e37aaed2a0eb668082103d05d8fb69fcd289548140dde8e906f6fc217b02477f81842f2483d9ea1c9242555ae"
}

createrawtransaction '[{"txid":"b24342d957bf8deb5abf7ff19ff06c38520e99ee6a09797c2ed9b3895f09ed19","vout":1}]' '{"Sidhvfpo93KGVpbu9pM3LgyiPdgesnT1G6": 3175000, "SvtGbNjWE49pTM2TiUZrYKSNkxTJx75mmC": 19424926}'

01000000a4f454570119ed095f89b3d92e7c79096aee990e52386cf09ff17fbf5aeb8dbf57d94243b20100000000ffffffff02808d7264070000001976a914ea14ae550e86edaa729903366b61e7bf2746577088ace07b283a2d00000017a9147077487df91c0166d33ee6079b0c2229788f6ac2870000000053

decoderawtransaction 01000000a4f454570119ed095f89b3d92e7c79096aee990e52386cf09ff17fbf5aeb8dbf57d94243b20100000000ffffffff02808d7264070000001976a914ea14ae550e86edaa729903366b61e7bf2746577088ace07b283a2d00000017a9147077487df91c0166d33ee6079b0c2229788f6ac2870000000053

{
"txid" : "7266b3200ee1cb6e56a66051cd865f62833874033edf5c3e1787ffb6c450fb4e",
"version" : 1,
"time" : 1465185444,
"locktime" : 0,
"unit" : "S",
"vin" : [
{
"txid" : "b24342d957bf8deb5abf7ff19ff06c38520e99ee6a09797c2ed9b3895f09ed19",
"vout" : 1,
"scriptSig" : {
"asm" : "",
"hex" : ""
},
"sequence" : 4294967295
}
],
"vout" : [
{
"value" : 3175000.0,
"n" : 0,
"scriptPubKey" : {
"asm" : "OP_DUP OP_HASH160 ea14ae550e86edaa729903366b61e7bf27465770 OP_EQUALVERIFY OP_CHECKSIG",
"hex" : "76a914ea14ae550e86edaa729903366b61e7bf2746577088ac",
"type" : "pubkeyhash",
"reqSigs" : 1,
"addresses" : [
"Sidhvfpo93KGVpbu9pM3LgyiPdgesnT1G6"
]
}
},
{
"value" : 19424926.0,
"n" : 1,
"scriptPubKey" : {
"asm" : "OP_HASH160 7077487df91c0166d33ee6079b0c2229788f6ac2 OP_EQUAL",
"hex" : "a9147077487df91c0166d33ee6079b0c2229788f6ac287",
"type" : "scripthash",
"reqSigs" : 1,
"addresses" : [
"SvtGbNjWE49pTM2TiUZrYKSNkxTJx75mmC"
]
}
}
]
}

3175000.0 + 19424926.0 = 22599926
22600006 – 22599926 = 80

Does this mean 80 NSR fee …?

I am way too tired for this, sorry. If you try signing it, please be super careful and make sure you don’t broadcast unless certain it won’t eat all our NuShares.

[masterOfDisaster]

Does this mean 80 NSR fee …?

Yah, why not.
The last thing I wanted to deal with is crazy shareholders messing with the NSR tx fee - whether it’s 2, 3, 80 or 10,000 NSR fee doesn’t really matter, right?

I am way too tired for this, sorry. If you try signing it, please be super careful

Thank you for being too tired to having created it!

I’ll check it, before I sign it and recommend any other signer not to rely on me and check even more deliberately than usually!

[mhps]

NSR fee doesn’t really matter, right?

the point is that it is a surprise so it might indicate something is wrong in the process.

[masterOfDisaster]

the point is that it is a surprise so it might indicate something is wrong in the process.

I had to do all calculations manually.
Cointoolkit wasn’t able to load the inputs.
I based the first attempt of creating a tx with Cointoolkit on @jooize’s groundwork.
The high fee was my choice.

3,175,000 to masterOfDisaster Poloniex account

Signed 1 (mOD) of 3/5

01000000a4f454570119ed095f89b3d92e7c79096aee990e52386cf09ff17fbf5aeb8dbf57d94243b2010000006a47304402203487325f2ab80724028cff9393ab88af6f5a31e7142387ffbb81e5b9bd97a740022006ffa1e51d2c39822ad52495f0f3dc41d31c5bc89ccd72672f6ea4d4f6585d2e012103d05d8fb69fcd289548140dde8e906f6fc217b02477f81842f2483d9ea1c92425ffffffff02808d7264070000001976a914ea14ae550e86edaa729903366b61e7bf2746577088ace07b283a2d00000017a9147077487df91c0166d33ee6079b0c2229788f6ac2870000000053

I checked the addresses and the NSR amounts.
Please check thoroughly before continuing to sign or broadcast it!

[mhps]

signed 2 of 3/5 but not quite sure. verify

[masterOfDisaster]

The size didn’t increase.
Doesn’t look like it worked.
The hex code of the raw tx likely is still the same.

@mhps, can you please try signing the tx again? We need to sell NSR…

@Dhume, @ttutdxh, @cryptog, please chime in!

[mhps]

@mhps, can you please try signing the tx again? We need to sell NSR…

Has something been improved or you just want to see the same thing happening again?

edit: i just tried. got the same result. Are we sure it’s an explorer problem? the explorer is up. i can run the buyback calculator alright.

[masterOfDisaster]

If your signing fails, it shouldn’t be related to the explorer.
The tx was crafted manually by @jooize.

Are you sure you have the right password?
Last time I had a similar issue, it was related to the password.

[mhps]

I don’t know what passwd you mean. there is only the priv key i need to use.

[masterOfDisaster]

Right. Privkey. That’s what was referring to when I said “password”.

[mhps]

i just checked. the key was right.
one could create a 3 of 5 address with self’s keys and see if it is possible to sign it.

[masterOfDisaster]

Then I remain clueless.

[masterOfDisaster]

New attempt with reworked Cointoolkit

3,175,000 to masterOfDisaster Poloniex account

Signed 1 (mOD) of 3/5

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

I checked the addresses and the NSR amounts.
Please check thoroughly before continuing to sign or broadcast it!

@mhps, @Dhume, @ttutdxh, @cryptog, go!

[mhps]

signed 2 of 3/5. verify
looked right except no input amount or fee displayed

[masterOfDisaster]

Fee is 10 NSR. That should be far enough on the safe side. 1 or 2 NSR should suffice.
When creating the tx, the input amount was displayed and the fee automatically generated.

edit1:
I don’t know how far the discretion of FLOT reaches, but I know that without @backpacker’s prompt help we would have had a lot of trouble to get this tx created and processed, even though (special thanks to @jooize!) all did the best they can.
The work on the block explorer was no maintenance, but an improvement.

Why are tier 5 and 6 (park rates and NSR sales) only being partially utilised?

I don’t need to be paid regularly for fixes to other software, donations are just fine if you think they are worth it )

edit2:
just to spell it out - i’d like to transfer some NSR to @backpacker.
What does the rest of FLOT (NSR group) and shareholders think about that.
The service @backpacker provided was directly related to liquidity provision. Without it, we would be far from getting the NSR to sale.
Now it’s only ine more signature and the broadcast.
So I think it’s justified to send @backpacker a present.
@backpacker, can you provide us with an NSR address - just in case we agree upon doing it that way

[backpacker]

Great idea to make me motivated shareholder of nu)

SYneqWpc1X2L7GFxtiz2eUWbtrBhbYmnHJ

[mhps]

So I think it’s justified to send @backpacker a present.

Paying NSR is good. But Not sure FLOT is authorized to do that.

[masterOfDisaster]

Without a properly working Cointoolkit, FLOT members wouldn’t be able to fulfill their mandate.

We could just have sat and waited until shareholders couldn’t stand it any longer and created a motion, grant or whatever to pay a contractor.
In between the reserves would have run lower and lower…

Nobody wants that. And we are glad that @backpacker took the initiative.
If we (FLOT) are allowed to overshoot our mandate when it comes to performance and extra roles, why should we be overly worrying about a present for @backpacker?
After all we need consensus to sign the tx.

It’s remarkable, how often FLOT or other people rather act than talk - while so many others stay silent.
May the shareholders remain silent when we pay @backpacker some NSR - or speak now, thank @backpacker and create a grant for him!

If I don’t find a draft regarding an appeopriate NSR grant (or NBT) within 24 hours, I’ll create a tx from FLOT NSR funds.

@Cybnate, I’m addressing you, because you are always taking care of keeping a minimum of governance.
Would you agree that honouring the work of @backpacker is in the best interest of Nu - with or without explicit approval from shareholders?