It is time for immediate use of tier 6 liquidity (NSR sales)

[zoro]

There is a nice buy order at 400 in Polo!
Please hurry!

[cryptog]

Buy side is getting thinner and thinner.
I think we need to start selling some asap.
I am fine with 5m at 500 satoshis as proposed by jordan lee.
Maybe we would need more later.

What do u think?
We need 3 of 5.
I cannot be the executor sadly.
@ttutdxh @Dhume @masterOfDisaster @mhps

[masterOfDisaster]

I think we will agree that we should sell NSR.
Two of three required FLOT members are already in favour of it.

Regarding the way to do:
using one of my Poloniex gateway accounts (instead of blind or seeded auction) would allow putting BTC proceeds from the NSR sale automatically on the NBT/BTC order book.

[cryptog]

g one of my Poloniex gateway accounts (instead of blind or seeded auction) would allow putting BTC proceeds from the NSR sale automatically on the NBT/BTC order book

Nice. I m in favor.

[masterOfDisaster]

I’m always trying to think some steps (ok, at least one…) ahead

[mhps]

I am fine with 5m at 500 satoshis as proposed by jordan lee.

The Standard and Core motion already said how much the sell velocity is, and the buyback calculator has computed the number

Supply, Reserves, and Equilibrium

Sell 4726.93 NBT (9.3535 BTC) amount of NSR next week.

p.s. I am fine with adjusting the sell velocity as the numbers in the motion was mostly a guess – but I want to see good reason to set to another number.

[masterOfDisaster]

Right, but I’m inclined to say following only “Core and Standard” motion and doing no extraordinary NSR requires two measures:

• creating a redundant operation at Poloniex at a high spread (I can ramp up a NuBot on short notice)
• increasing the buy side offset even further, if 2% buy side offset still gets BTC sold rapidly

[cryptog]

I think we meed more than 5k right now.
Even 10k do not seem a lot.

[cryptog]

Can either @ttutdxh or @mhps or @Dhume write a nsr unfreezing tx from Nsr flot to a specific address ?

[masterOfDisaster]

I was about to craft a tx to deposit 500,000 NSR to my Poloniex gateway account. This is maybe enough to fulfill the requirements of the “Core and Standard motion” and might get us $5,000 in BTC.
I can use the proceeds from the NSR sale directly for funding the NuBot gateway.
Each sold NSR replenishes BTC buy side.
If the 500,000 NST aren’t enough, we might do another round.

The deposit address there is SP9nvw4RviJKN5Nn3v15ACHQgfwjfbauha

Alas, blockexplorer.nu is offline and cointoolkit relies on it.

@Ben, @JetJet13, can you please kick the blockexplorer?

I don’t know how to make use of http://blockexplorer.ddns.net/ for cointoolkit. Plus it seems to be offline, too. Maybe it’s just my connection.

edit: I bought a fistful of NSR and made a test deposit.
SP9nvw4RviJKN5Nn3v15ACHQgfwjfbauha is working.

[mhps]

deposit 500,000 NSR

might get us $5,000 in BTC.

Don’t know about that. How about 2 million NSR for a start?

[masterOfDisaster]

I just wanted to stay close to the buyback calculation for starters.
But I agree that this would likely have lead to another round, unless BTC price dwindles anytime soon.

I’m fine with 2 million.
My math was off anyway.
Should have used a calculator.
1 million NSR will have BTC proceeds of $1,000 or below.
We’ll need at least 5 million NSR to get $5,000 in BTC. WIth the effect on the NSR price maybe much more.

[cryptog]

2 million NSR

I am fine with that as a start.
We ll see also at the same time how quick we are at unlocking nsr and bringing them to market. A first timer for flot.

[Nagalim]

Using ~0.002 $/nsr, we should sell 2.4 mil NSR. This is the extent of the official crowdsourcing and will be all we are guarenteed to do this week.

[cryptog]

2.4 mil NSR

All right. I am fine with this figure too.

[mhps]

Alas, blockexplorer.nu is offline

same here. Let’s all take it easy now. Our infrastructure isn’t up there for 100% available service yet. I say we forget about changing nsr unit and more type of nubits for now and get all the basic infrastructure working first.

[backpacker]

I’ve made changes to cointoolkit to enable nuexplorer.ddns.net, you can use it at:

https://backpacker69.github.io/cointoolkit/

You have to go to settings and change providers for nubits/nushares to nuexplorer.ddns.net

[masterOfDisaster]

You are a boon!

FLOT NSR Operations (buy side)

2,400,000 NSR to mOD’s Poloniex gateway account following the “Standard and Core” otion Signed 1 of 3/5 0100000039ae49570215abb65fa5ed15c36c13a950bcab36f1cfd6f1d160dd04e4e9b4ed925508c38300000000f900483045022100948691e7bb9717828ee7649615fee7d3e2926ba7e648a306cbf707fa702982e402201f91af1388eb6d6ef1c7ebc9d2aa09be9789b1be28c12caf784db68f9bb61e02014cad532102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103686ee42f6…

[masterOfDisaster]

FLOT NSR Operations (buy side)

Got it. Will reduce it to 1.2 million at once. done: [image] It will be replenished like announced.

Adjusted:

I planned to use only 1.2 million at once and lower the orders by 6% each step, but the situation is dire enough that we should aim at getting proceeds rather sooner than later,
I left the order at 500 Satoshis and added one at 450 Satoshis.

[mhps]

should aim at getting proceeds rather sooner than later,

Well that is all there will be for the week. I see no reason to get all and spend all in the beginning of the week and 0 for the later times of the week. I say let time do its thing and execute like buybacks plus more randomness to discourage gaming.