FLOT NSR Operations (buy side)

[mhps]

The worst thing that could be happening right now is he’s curled up in the fetal position with a bottle of Jack Daniels with the cold sweats. I really hope this is not the case, we need thinking not drinking.

If the shareholders are to buld a DAO, shareholders shouldn’t rely on (and blame) one individual.

[Cybnate]

If the shareholders are to buld a DAO, shareholders shouldn’t reply on (and blame) one individual.

Agree, but you need all pieces of the puzzle. Without Jordan and a few key investors I don’t believe we can make this work. We are also dependant on the actions of the B&C DAO.
BTW Even DAOs need leads. Not one lead for the whole DAO, but leads for areas like liquidity provisions, shareholder negotiations, marketing, development etc.

[Chronos]

Absence of Jordan is quite unnerving.

According to https://discuss.nubits.com/users/jordanlee/activity he was online 45 minutes ago, but chose not to post. After he reads this, he may prefer to browse while logged out.

[Sentinelrv]

I have been watching that as well.

[Sabreiib]

A person who never made a mistake never tried anything new.
-----Albert Einstein

[jooize]

3,175,000 NSR to @jooize for blind auction

Address: SWqGtyZvQoDVP8wV2HPMFcA5vK5pVBA3yh
Amount: 3,175,000 NSR
Fee: 3 NSR

Signed 0 of 3-of-5

01000000ecee5b570119ed095f89b3d92e7c79096aee990e52386cf09ff17fbf5aeb8dbf57d94243b201000000ad532102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103686ee42f635c71c08f326e66139b6cb37167402cc0562584655aac03fe74049521039854d0e2abf6e4971e1350137b876da6a05132737c11ca3e37aaed2a0eb668082103d05d8fb69fcd289548140dde8e906f6fc217b02477f81842f2483d9ea1c9242555aeffffffff02808d7264070000001976a91468a34511002c46b436aaacf9fcc2e18ae88e2c6488acb03b343a2d00000017a9147077487df91c0166d33ee6079b0c2229788f6ac2870000000053

@Dhume @ttutdxh @cryptog @mhps @masterOfDisaster

[cryptog]

Did we get to sell any NSRs during this crisis?
If yes, where are the BTC proceeds?

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

Since @masterOfDisaster is inactive, we should not sign this tx

3,175,000 NSR to @jooize for blind auction

I am personally fine with the idea of a blind action so I d like to sign this tx.
However do we have the agreement from the shareholders as a whole?
Are you going to ask for the permission to run the blind auction as some point?

[jooize]

Did we get to sell any NSRs during this crisis?If yes, where are the BTC proceeds?

A couple. I don’t know.

However do we have the agreement from the shareholders as a whole?Are you going to ask for the permission to run the blind auction as some point?

Unless a motion is passed or a very convincing argument is made I will proceed with NuShare sales when I can assuming FLOT NSR trusts me and doesn’t decline by discretion.

I believe FLOT has the authority to appoint an auctioneer. FLOT NSR may disagree, in which case I’ll request the amount through a grant. I ask FLOT NSR to respond in a timely fashion if they decline so I can post the grant as soon as possible. If you think I should just post it already, I will.

[cryptog]

I believe FLOT has the authority to appoint an auctioneer.

I think so too after thinking about it because it is very close to selling NSRs on the market, which is allowed to FLOT by motion and it is probably much better than going to markets because of the very low volume there. We are very likely to get a better price in blind auctions.

[cryptog]

Verified and signed, 1 of 3-5.

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

[mhps]

verified and signed 2 of 3/5. verify

[Dhume]

Verified and signed 3 of 3/5.

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

I tried to broadcast it but it seems stuck saying: Please wait loading

[jooize]

I tried to broadcast it but it seems stuck saying: Please wait loading

I’ll try through the client.

sendrawtransaction 01000000ecee5b570119ed095f89b3d92e7c79096aee990e52386cf09ff17fbf5aeb8dbf57d94243b201000000fd8a0100483045022100eb11bff198de64946ac7c76ec1790ad2b059fb363597efed44891c9be9836b37022012fadab95209727d83c2f7a312b8260e345ec0bfd9fc6bfab15edbffef60be3101473044022010d896a5a6d8b15cee96b57b32ed752239259ef1f2b4ebabbbc72fb2391ddf6002200a0e35992433ad2bedbe4739ae0fe710b94636dd4b3d796080d710512533552301483045022100d6f6871d3bf091e70b617813365b194e4f5ea26e2c0871e0440104ba4d25227002200954fee33154d1d63028fe03158ac2f71391202ba77a5090e65c619babda361b014cad532102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103686ee42f635c71c08f326e66139b6cb37167402cc0562584655aac03fe74049521039854d0e2abf6e4971e1350137b876da6a05132737c11ca3e37aaed2a0eb668082103d05d8fb69fcd289548140dde8e906f6fc217b02477f81842f2483d9ea1c9242555aeffffffff02808d7264070000001976a91468a34511002c46b436aaacf9fcc2e18ae88e2c6488acb03b343a2d00000017a9147077487df91c0166d33ee6079b0c2229788f6ac2870000000053

Txid: a7c9a0cfabe0d20a5395481f1ce5876788d4680e2be134d8a3eef77337ae7bb0

[Passed] Second deposit to FLOT NSR address

It shouldn’t be sold on exchanges then, but through auctions with a price floor.

Forget a minimum price, imo. People are just as ready to dump nbt as nsr, so it should work out in the end. The time frame is indeed the crucial question.

Please discuss price floor and time frame.

[Nagalim]

Price floor is a concept for nsr/btc or nsr/usd. For nsr/nbt it really shouldn’t matter. Anyway, whatever, make it 0.001. People will probably be selling around 0.002 anyway.

Time frame should be a few days or a week.

[jooize]

Poloniex just responded and seems to be close to activating my Nu account in case we need it.

Activated.

3,175,000 NSR received.

[jooize]

Nu Blind Auction NSR #1 (draft)

Lot: 3,175,000 NSR (NuShares)
Reserve price: 0.001 US-NBT/NSR
Minimum bid: 500,000 NSR or 500 NBT
Closes: End of Friday 2016–06–16 UTC

• I promise to keep identities confidential, but blockchain transactions cannot be hidden.
• All bids will be publicly listed after auction closes, before payment has been collected.
• Winning bidders will be sent a unique US‑NBT address and need to pay within 48 hours after time specified in message (the time I send it).
• Time of bids with be set according to when the client says it was received (forum, email server, Bitmessage).
• Proceeds will be burned within three days of receiving them, and burn transactions posted publicly.

Contact

Use subject: Nu Blind Auction NSR #1

• Private message.
• email@address
• BM-xxxxxxxx3LNLDSGxJF4DCLnF3mxxxxxxxx

---

Any terms I’ve used ridiculously wrong? https://en.wikipedia.org/wiki/Auction#Terminology

To track payment, is there any better approach than using a different NuBit address for each participant?

Look OK?

[cryptog]

after all shares are traded?

I d suggest after auction ends.

So putting a deadline to make a bid is important.

[mhps]

Minimum bid: Should I set this?

100,000 NSR or 100 NBT seems good?

[jooize]

I d suggest after auction ends.

When exactly is this? When I stop accepting bids or have done all trades? I think the former makes most sense.

What happens if a bidder doesn’t pay? Should there be a time limit after participants have been asked for payment after which the next bidder gets the chance, or do I abandon the bid? 48 hours? Three days?

Please advice on length of auction, i.e. how long I will accept bids. 3–7 days? 4 days?

4 days bidding, 2 days payment window, 1 day for next calculation (if the auction results affect that), and repeat?

I wish to begin the auction soon, of course, but want most of the procedure figured out first. Almost there, I think.

[Nagalim]

[Passed] NSR sale and NBT burn

My apologies to @Nagalim for this. I hope you don't feel I am stepping on your toes. The discussion you started was quite useful and you can see my content is based on yours and reflects the results of your discussion as well. This is a modest rate of sales that will result in less than 0.4% dilution per month. Motion RIPEMD160 hash: e91340fdbda5c2a7a1362c66eece05b9c67d2496 =##=##=##=##=##=## Motion hash starts with this line ##=##=##=##=##=##= 1 million (1,000,000) NSR will be auctioned…