FLOT US-NBT Operations (sell side)

[masterOfDisaster]

Putting money on the buy side as well provides an incentive for using NBT as BTC volatility hedge.
Do we really want to provide incentives for that?
Or do we want to offer NBT for sale for people who want to actually use them (for more than just hedging BTC volatility risk…)?
From the trading volume on hitBTC you can make a guess what NBT traders are after!

In fact NBT on sell side only supported exchanges still can still be used to hedge BTC volatility, but not as convenient as at dual side supported exchanges: the NBT must be sent to an exchange with a supported buy side,

[dysconnect]

Well, given the current situation it isn’t urgent but nmei’s gateway has also starved for a while. The formal activation is going to be triggered by FLOT deposit so there’s no hurry, but seeing no discussion on e.g. the amount of funds to send I had to raise this before start.

[masterOfDisaster]

…you could have started a discussion without creating a tx…
Just sayin’

[dysconnect]

Like this ?

[Reporting] Single sided NBT gateway on HitBTC

Ok. I don't see an NBT amount specified in the grant. * The total volume in the last 90 days seems to be 662 NBT, which gives something like 52 NBT weekly, not very helpful. * Based on the per-week premium of 11.7 NBT perhaps selling 1000 NBT per week would be reasonable. Whether it can really be all sold is an other issue that should have been discussed in the motion (well, I'm not one to complain) So FLOT, should we send 1000 NBT?

[masterOfDisaster]

Right, but then @nmei put the operation on hold, because of absence and I took the liberty to step in with an offer that was accepted.
So currently there’s sell side liquidity at hitBTC:

I have 2,000 NBT on my gateway since 2016-03-23.

0.07 NBT have been sold so far:

Which leaves the question:

Based on the trading volume I don’t see a reason for sending another 1,000 NBT there.
But I’m a fan of redundancy.
Is that redundancy currently worth 100 NBT per 60 days?
If yes, I’d withdraw 1,000 NBT to FLOT to keep the exchange default risk the same as it is now.I’d like to hear opinions from other FLOT members before I’m going to sign it.

[masterOfDisaster]

10,000 NBT from my Poloniex gateway account to FLOT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js; tx ID 5cf7ccc3f856a4ccf786c1ad1bb95fddd79131c66bf37194944f21486a7b5809

8,354 NBT wait for the reset of the withdrawal limit to be withdrawn.

[dysconnect]

I’ve created a transaction to exchange 7000 NBT with NuLagoon

verify

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

Rationale: after sending FLOT funds to gateways, the liquidity will be more imbalanced towards the buy side

@masterofdisaster
@woodstockmerkle
@ttutdxh
@jooize

I’ll sign later when there is some form of agreement among FLOT

[masterOfDisaster]

##1) A recent deposit to the FLOT NBT address

[Passed] NBT EXIT gateway on Poloniex provided by @masterOfDisaster

8,354 NBT to FLOT multisig address BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js; tx ID f8a5d428eee000a2ba7f28b236178fc3ea749261fca40a716cf23100215f0d54

The gateway is on unattended standby from now on.

##2) Rationale for signing this tx
@zoro’s gateway has an empty buy side while a 13.2 BTC deposit (approx 6,000 NBT value) is withheld.
This tx helps moving BTC from NuLagoon to @zoro’s gateway without creating imbalance in the sides.
After this tx went through there’s little reason in the field of balancing that can stop from depositing 13.2 BTC to @zoro’s gateway.

7,000 NBT to NLT; verified and signed 1 of 3/5

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

[dysconnect]

I’ll sign the other one when this goes through

verified and signed 2-3-5:

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

[jooize]

7,000 US-NBT to NLT

Signed 3 of 3-of-5

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

Txid: 6faad7bb11a5c6a307df2d2c0615c32854aa6266a835d15354e7eec6cc757a7e

[masterOfDisaster]

Exchanged BTC arrived; tx id fc0a7c99af371dae4e0ec2560197885ee4e6bcf9fcec0aae8e8f7a1c07d73aa0

New balance of 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe: 58 BTC

@dysconnect, it went through

[huafei]

only have 455NBT at my bter sell side.

please consider to balance the account to deposit address

BD6anJNUEvWuPEL7YWdid8dD3rar9C69Je

[masterOfDisaster]

1,545 NBT to @huafei’s bter sell side gateway

Signed 1 of 3/5

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

@dysconnect, @ttutdxh, @jooize, @woodstockmerkle, please verify and sign.

Remark:

[Sell Side]Bter.com @huafei

To get an overview: 2,000 NBT were deposited to your gateway on 2016-04-05 2.4196 BTC were withdrawn on 2016-05-09 1.070915 BTC were withdrawn on 2016-05-12 and 455 NBT are left in the account That means you sold 1,545 NBT for 3.490515 BTC at an average BTC price of 442.62 NBT. I’m going to prepare a FLOT deposit to your bter account as soon as Cointoolkit works for me (blockexplorer.nu isn’t down, but it’s not working; will try later). Thank you for your services.

[woodstockmerkle]

Signed 2 of 3-of-5

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

Verify

Note that Cointoolkit does not show a balance for the input, but I think it is valid.

[masterOfDisaster]

Yah, something’s wrong there. I set a tx fee of 0.01 NBT for that tx, which isn’t shown either…

[ttutdxh]

It is because the external data could not be loaded due to connection problems with the blockexplorer (as always) and cointoolkit only show the tx data (output amount). Not knowing the input, it can not compute the fee.

Verified and signed 3 of 3/5

[masterOfDisaster]

Thank you for the explanation!
It would be great to have a more reliable blockexplorer…

1,545 NBT to @huafei’s bter NuBot account tx ID: 892fa5f7617927d52b0d09b4ad14dcc54aa6f7c0185f773fa1a8317700a8f26b
blockexplorer.nu
alternatively on Coinpayments explorer

blockexplorer.nu is stuck at block 868,528.

[huafei]

got the 1545NBT and 1% deposit bonus

@masterOfDisaster should i have a resart of nubot or waiting for nubot place order?

[masterOfDisaster]

got the 1545NBT and 1% deposit bonus

The NBT deposit bonus is 1% and the BTC withrawal fee is 0.5%+0.0006?
That means if you withdraw more than $54 in BTC (at a BTC rate of $450) you have made a gain for Nu, because the credit for depositing NBT exceededs the BTC withdrawal fee

should i have a resart of nubot or waiting for nubot place order?

NuBot should place the funds automatically once it replenishes the T1 order or the price shifts.
If you don’t want to wait, you can restart it of course.

[Nagalim]

I wish bter would stop messing with the fees. A 0.5% fee difference on both deposit and withdrawal means our price feed is off by 1%.