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
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.
Something doesn’t seem quite right with that transaction … it signed OK but I do not see it crossing the network.
a87a496d5bb7da4792937668c7b542ed69288854bc726e2562d0133df4dc5b7d has 2100
e40d86cd5da6c93fa71314361569a747dc880b8bb4047785189c8a8ab2564204 has 1,994.99 (I think)
inputs = 4094.99
Sum of outputs = 4094.98
So that should have a 0.01 fee.
Anyone else want to try to broadcast the tx that’s available on verify?
I thought it might be appropriate to have some funds in the gateway accounts - just in case the BTC price drops. @zoro’s currently has around 20,000 NBT.
I think the same amount for my gateway might be appropriate.
I need to take a break.
NSR are on order, NuBot is running with the 8 BTC that were deposited. It will automatically use the proceeds from the NSR sale for the buy side and the deposited NBT for the sell side.
That’s pretty much all I can do now.
The deposit to NuLagoon Tube, once the NuSafe funds arrived, might need to wait a bit more than a few minutes until I sign it.
There is also 6500 NBT sell side in my Pybot on Poloniex. Are you going to run a sell-side with extremely low-spread? Otherwise I don’t see the immediate value of this?
That is both useful to grab NBT during swings and to offer NBT at a good price, in case BTC drops.
If BTC were to drop significantly, increasing the sellside offset (by far not as high as the buyside offset) would be a “market aware” action manually conducted by me (to adjust the spread to the demand).
Running out of NBT is not that big problem though, because in difference to BTC we can grant them and still have plenty in reserve.
Buying BTC at a tight offset is a different matter, but I’m already fighting for an increased spread, which is mainly configured on buyside. I’m not in the condition to fight for a small sellside offset as well.
To further the preparation just in case the BTC makes an extended nosedive, which would create pressure on the sell side, I prepared a transaction that deposits funds to these gateways (I dare say we can’t rely on ALPv2 at the moment):
The intention is to get it signed and broadcast as fast as possible, once the need is detected.
This is why it’s already created and should couch with 2 signatures for the BTC price drop.
Then only a third signature is required to get the funds sent to the gateways.
Ideally someone knowing the he/she will be available on short notice in the next days should withhold from signing it, whereas a less available (I wouldn’t want to wait for 36 hours after a need is recognized; with “less available” I mean more than a few hours!) person should sign it as second signer.
I intentionally signed it already, although I should be highly available. As the deposit brings funds to my gateway, which already has some BTC and might receive 20,000 NBT soon, I don’t want be the one in charge of depositing additonal funds to it.
We all know about the risks that go along with that.
On the other hand we might be in a quite bad position if not for the gateways. They are all that is supporting the peg at the moment. Taking this risk might pay out.