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.
