This is a price feed issue.
I use bitfinex at the moment.
The relevant order parameters of NuBot are currently:
I’m aware that "bookBuyOffset": 0.075, looks horribly high. This is the next layer of defence, should @zoro’s BTC get drained, even at 5% offset.
@zoro, do you still use bitfinex as main price feed? Would be good to have the same config…
My data feeds are:
"mainfeed":"bitfinex",
"backupfeeds": ["bitstamp", "bitcoinaverage"],I use the same feeds but rather different configuration. I will not change it since i am selling NBT and getting
some BTC back 
I already sold all but 161 NBT at 1% offset…
But maybe NuBot cancelled orders too slowly during a swing - who knows…
Would you mind sharing your config related to orders?
Signed 3 of 3-of-5
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
Broadcast. Txid: 6d9f5cf065b1308e2c8efa3a9d02d3a4b77666e3101654009b988e4bde05b16f in block 898244
Thank you!
Now we have a solid and redundant buffer in case a big BTC dump comes.
And if BTC is dumped so hard that the ALP, NuLagoon Tube and gateway NBT get drained, there’s another tx to deposit 65k NBT to gateways couching!
Any other preparations that might make sense?
I’d like to transfer 5,000 NBT from my NuBot account, that provides a demarcation line at 7.5% buyside offset, to my recently started up NuBot, which tries to improve the liquidity situation by offering a tighter spread.
The NuBot account, from which I intend to transfer the NBT, currently holds 18160 NBT and 26.3 BTC. I don’t want to add more funds to Poloniex at the moment and would rather move from one account to the other.
@dysconnect, @ttutdxh, @jooize, @woodstockmerkle, ok or not ok?
I want you to do it. Thank you.
I concur. Thank you.
Done. tx ID 14e49fc5ec7ed2f875260889f207038adf47c0325f6d2debfe5e3488d305b66a
I have sent 21000 NBT to FLOT multisig address from the poloniex gateway.
Txid: c0555ff4158879b6cb9bda7d35dcf167102d0164119bdfe4b7a06a9ed4576369
I have another 20180.47096635 in sell side.
FLOT - what do you think about pulling the majority of Nu funds?
The goal would be to get an estimate of the free Nu on polo…because if there is ~12K now, some of us thinking of doing the buy back could put walls up at the current price…
For adding the FLOT funds to a global fund that aims at buying back nubits?
We have a choice - leave NBT on the market and force downward pressure for everyone that wants to get out.
Or pull NBT - have open market establish price - and wait for the swing.
Ultimately I’d like to see Nu burn a lot of NBT.
i don’t think there is much pressure from the wall. the spot prices is way below the sell price that there more than 10k nbt for sale buy traders below Nu price.
there isn;t much difference between burn them and have them is FLOT’s multisig address. in the buybackcalculator the outstanding nubits doesn’t have those nbt in FLOT’s hand counted.
Amount: 303355.4886 US-NBT
Address: BJLmVRdGFi4q7Zidwzr4CPPsLT6pozR31a
Fee: 2 US-NBT
Post was almost 30 KB, causing performance issues. To avoid freezing anyone’s browser I put the transaction on Hastebin. High fee because transaction was 5 KB and my signature added 2 KB.
Signed 1 of 3-of-5
https://ttutdxh-nubits.github.io/cointoolkit/?mode=nubits#verify
@dysconnect, @ttutdxh, @woodstockmerkle, @masterOfDisaster
Edit: Re-uploaded transaction to Pastebin.
Amount: 0.01 US-NBT
Address: BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js
Fee: 303,357.4786 US-NBT
Signed 1 of 3-of-5 (Transaction at Pastebin)
https://ttutdxh-nubits.github.io/cointoolkit/?mode=nubits#verify
They “amount” field shows not found for all the inputs but seeing that they’re still burned I’m signing this.
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https://ttutdxh-nubits.github.io/cointoolkit/?mode=nubits#verify
Thank you @dysconnect. @ttutdxh, @woodstockmerkle and @masterOfDisaster what is your reason for not signing? Surely it is clear FLOT no longer functions and funds should be returned to shareholders.
@woodstockmerkle
Can you please elaborate why you wouldn’t return these coins so they can be burnt? I don’t think there is any harm or risk in that, is there?
This is a great opportunity to have more discussion about this.
I may have missed something in the motions, but I don’t actually see a motion passed that explicitly disbands FLOT or compels FLOT members to surrender all funds to the Chief.
Please correct me if I’m in error.
Create Chief of Liquidity Operations
https://daology.org/u/phoenixnubits/proposals/5b24b77d0be14846f18e0538a558c043eae70a2b
This motion mentions additional detail about the role of a Liqudity Operations Chief would/should be forthcoming. The next one speaks to it, but it does not read like a full job description.
Elect Phoenix as Chief
https://daology.org/u/phoenixnubits/proposals/9deb3f439c47b22a21be42d9fbc8b9d9bd1498bd
This one restricts the use of funds by the Chief to providing “liquidity.” WIth a critical read, I don’t see it mentioning burning the shares as being a facet of ‘liqudity’ – quite the contrary. However they could immediately be used to compensate Phoenix with no other control by the org.
Once outside the control of FLOT, despite claims to transparency, it is plausible the NBT could be shuffled around and used nefariously to put more downward pressure on the peg, necessitating more sales. As they remain locked up with FLOT, they are assuredly not in the market.
Extend Chief for a 2nd term
https://daology.org/u/phoenixnubits/proposals/da63b4d226e90a4fa80b1a002aa290f9d12f6b07
Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority
https://daology.org/u/jordanleepeershares/proposals/e915a786bc7dfb82f116ecc202c5fc6baa9ebfdb
The definition did not include FLOT
So fully understanding that the power that was bestowed upon Phoenix came in a crisis situation, and from ‘the majority of the shares voting’ (Note: I did not say shareholders as that speaks to a count of individuals), it’d be worth using this as an opportunity to pause, clean things up, and articulate a vision for FLOT, etc.
I think after operating in ‘crisis mode’ for many months, and now with the peg stable perhaps Nu is coming out of that phase. What better way to celebrate than to reassure the market than with some housekeeping on roles and responsibilities in this “distributed” autonomous organization.
If Chief of Liquidity Ops is to be a permanent fixture of Nu, then I think all present and potential investors should know this. What was alluded to in the first motion should be defined with skills needed, responsibilities, compensation among other things – including how the role would be transferred to another individual. People also become incapacitated. Then what?
Second if FLOT is to be disbanded, this should be done as a motion as well. Again, clarity to the community.
As a last note, burning the funds or removing them from circulation will drop NuBits off the first page of coinmarketcap – the “top 100”. This is a loss of visibility that should not be underestimated.
Summary: pass a motion disbanding FLOT, with the requirement to hand it over to the Chief, and I’ll sign whatever transaction the Chief designates as authoritative. If it is the will of the majority of the shares voting, I see no reason why not put it to a motion.
That would dispel a lot of doubt and really clarify the direction those holding the majority of the shares want to take with this ‘distributed’ organization.