FLOT NSR Operations (buy side)

@masterOfDisaster Right now, you can’t unless you go low level.
That script changes everytime anyone signs, so that is why they are different.
Anyway it will not have any effect if it is wrong, it is not a security problem, the transaction will simply not work.

I have been thinking about a section to do that, and to combine signatures in this scenario:

Member 1 sign the transaction and results in 11a0fff…
Member 2 take 11a0fff… and sign it. He gets 22a0fff…
At the same time member 3 take the same tx signed by member 1, 11a0fff… and sign it himself. He gets 33a0ff…
Now member 2 and member 3 publish their correspondent transactions, 22a0fff, 33a0ff.

Now we have 3 diferent versions of that tx:

  • 11a0fff… With signature of member 1. (total 1 of 5)
  • 22a0fff… With signature of member 1 and 2. (total 2 of 5)
  • 33a0ff… With signature of member 1 and 3. (total 2 of 5)

We don’t have any transactions with the minimum 3 of 5, and we should since 3 of 5 members signed.

Only @Dhume, @cryptog left, the transaction from @mhps would already be valid, but lets sign it all to test.


How do we broadcast a valid transaction to the network?

Click one of the buttons - the highlighted one :wink:
They appear under the signed transaction box after you’ve signed a tx.

I hope it broadcasts the right one. There seems to be a glitch that shares the tx before it was signed and not after it was signed if you click “Verify and share”,
@ttutdxh can you check the “broadcast” function, please?

Let me explain what these buttons do:

  • Verify and share: Copies the transaction to the verify tab, you are supposed to check it there, and then you can share the link from “Shareable verification link”. It does not send the transaction anywhere. It is mostly intended to multisig tx.

  • Broadcast: It copies the transaction over to the “Broadcast” tab to send it, but it does not send it until you click “Broadcast”. This does not work for most modes because we don’t have servers for that yet, the alternative is “sendrawtransaction [copytransactionhere]” in any wallet debug window.
    However it already works perfectly fine for Bitcoin.

Sorry for cross-posting across two threads.
After I’ve read your explanation regarding “Verify and share” I tried again. Here’s my report.
And sorry for the confusion. I thought the buttons were new (can’t remember having seen them before) and maybe wouldn’t work properly. It seems the trouble was on my end.
I already love cointoolkit!

1 Like

Eventually I could sign it. :smile:

Tks @ttutdxh !


1 Like

By the way, I am trying to broadcast my signed tx but the broadcast button under “broadcast” is not clickable. I suppose this is because of [quote=“ttutdxh, post:46, topic:3103”]
This does not work for most modes because we don’t have servers for that yet,

Anybody aware of FLOT NSR?

As far as I’m aware of the NSR grant has not yet been requested by FLOT. We should apply for a custodial grant I think, or are there backup NSR held by you @JordanLee that we are supposed to transfer to FLOT?

1 Like

I am a little upset about this happening 21 days after FLOT formation.

Update: Up for voting here.

1 Like

Why not put it in its own thread starting with [Voting] ?

Good point, I don’t know what I was thinking.

A note to FLOT members:
I’ve updated the OP with a link to the Cointoolkit which contains the redeem script to make creating NSR transactions easier.

1 Like

I think non-overlapping members of the NSR group can also share some of the work load of the NBT group, such as creating transactions, even if they can’t be signed. Especially if a deal can be struck with certain parties to do regular transactions then anyone can create a transaction at any time. I considered creating an other NBT group but that wouldn’t be any better than a big 3-of-8 multisig group (which however isn’t in fundamentally bad).

Likewise for the NBT group to help the NSR group.

@CoinGame, can you please make the OP wiki style as well?

Dear fellow NSR FLOT group members,
as the recent balancing efforts drained the BTC reserves to 82 BTC and considering the next balancing transaction I proposed will reduce the reserves 35 BTC, I want to start discussing an NSR sale.

I’m aware that there’s $30k in NuSafe.
I intend to use some of those funds as well for two reasons:

  • it’s was NuSafe was made for - being a stable reserve; let’s use it as such
  • to test the process of releasing funds from NuSafe

I’d like to convert half of NuSafe funds to BTC.
This is still not sufficient to fill the buy side reserves to an appropriate level. Even cancelling NuSafe wouldn’t be sufficient.

Close to $30k BTC are in @zoro’s and my Poloniex NuBot accounts (which are due to the exchange default risk not considered reserve):

Mon Apr 18 07:22:03 UTC 2016
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
        "BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
            "buy" : 15726.22,
            "sell" : 15463.6728
status of zoro dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo -A 2
        "BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo" : {
            "buy" : 13511.04,
            "sell" : 12875.1682

@Cybnate’s PyBot operations have no BTC left:

@mhps might be able to support a precise calculation using the NSR buyback calculator.
My gut feeling tells me that we are at least $40k short.
If we take $15k form NuSafe, we need to get another $25k from NSR sale.
At current market rates that a sale of approximately 8 to 10 million is necessary to fill the gap (provided it’s not bigger than my gut feeling tells me).

I’m open to take all $30k from NuSafe, reducing the NSR sale to $10k, equaling 3 to 4 million NSR.

While I appreciate comments from every FLOT member, shareholder and forum member, I’m especially interested in the point of view of @Dhume, @ttutdxh, @cryptog, @mhps, because they are involved in the FLOT NSR group or NuSafe.

1 Like

This is very difficult period for NU. The imminent reduce of BTC generation can drive speculators to
buy as much BTC as they can expecting its value to skyrocket (if ever).
We need to think how we can move the gateways’ buy walls to the max spread just before the value
that is considered the “lost peg” value, for a few months at least!

1 Like

My NuBot Poloniex gateway is already at a big spread, because it’s designed literally a gateway of last resort:

Moving the gateways’ spread doesn’t replenish an empty reserve!
Replenishing it is the reason why I made my last post.

1 Like