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!
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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,
[/quote]
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?
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I am a little upset about this happening 21 days after FLOT formation.
Update: Up for voting here.
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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.
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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.
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.
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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!
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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.
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Still BTC funds on Bittrex
Erm, well… 4.7 USD in BTC is not what I consider “funds left” in this context.
But you are right in the way that it’s not 0…
They are 4.7 BTC!
I’d rather see an NSR sale and higher park rates before we use up the remaining BTC. I also prefer that NuLagoon put some BTC on Polo rather than the Tube during this time, at a high enough spread (like 1%).
There is a motion up for voting that would make consensus around nsr sales. We have also instituted park rates, which will trigger an nsr sale in a few weeks if that mentioned motion is not passed. FLOT shouldnt have to think too hard about when to sell nsr. When to sell the NuSafe contract is another question.
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