NSR Buyback #1 – Week of September 28, 2015

[NSRBuyback]

This account will be conducting NSR buybacks in accordance with this motion. Each buyback week a new thread will be created for shareholders to monitor. At the conclusion of the week the final results will be posted here along with a confirmation link showing the NSR burn. The thread will then be locked.

The only goal of this account is to purchase as many NSR as possible each buyback week to be destroyed using the funds provided by shareholders. A successful NSR burn will result in all shareholders attaining a larger equity percentage of the Nu network than they held before the NSR burn.

If you would like to sell us your personal NSR for less than 70% of the market price each week, send a bitmessage to BM-2cVFzzfWwKkdxLmgZwhSFfGmKwqDrddDfv to negotiate a deal.

[NSRBuyback]

Monday, September 28, 2015

Beginning amount of buyback funds: 10.7 BTC

Market price: 0.00000777 BTC

Buyback price: 0.00000544 (70% of market price)

Exchange: Poloniex

Buy wall is set.

[desrever]

Each buyback week a new thread will be created for shareholders to monitor

I’d prefer having one thread (just my vote)

[Sentinelrv]

So if my math is correct, this should buy back about 1,966,911 NuShares, correct? Current Bitcoin price is $238.06.

[Nagalim]

The buy wall on polo is 1,966,921.6857 NSR. You can see it for yourself.

[NSRBuyback]

Tuesday, September 29, 2015

Beginning amount of buyback funds: 10.7 BTC

Shares purchased thus far: 0 NSR

Market price: 0.00000752 BTC

Buyback price: 0.00000602 BTC (80% of market price)

Exchange: Poloniex

Buy wall is set.

Notes: No buybacks have occurred yet. The wall was set at 0.00000544 BTC for the past 24 hours and the lowest trade occurred at 0.00000547 BTC.

[miner]

Interesting, check out the comments from Chinese community.
NSR启动每周回购计划，10.7BTC买墙已经设置好
http://8btc.com/thread-23339-1-1.html

[Sentinelrv]

This is what I got from Google Translate…

• But fortunately did not give up, communities do not give up.

• But the bullets lighting up how to do it?

• The same question, how to do lighting

• Oh, 70 percent, is too low

• The landlord mentioned two sites are not open, do my crotch as the outstanding website?

• Amount can not buy a few

Unfortunately I can’t understand most of them. Is there anything you can translate for us?

[willy]

The landlord mentioned two sites are not open, do my crotch as the outstanding website?

[masterOfDisaster]

I’m chiming in…

The landlord mentioned two sites are not open, do my crotch as the outstanding website?

is hilarious, but @miner, could you please translate some important parts. I feel this could be interesting and even more exciting than rofling about the landlord.

[NSRBuyback]

Wednesday, September 30, 2015

Beginning amount of buyback funds: 10.7 BTC

Shares purchased thus far: 0 NSR

Market price: 0.00000799 BTC

Buyback price: 0.00000719 BTC (90% of market price)

Exchange: Poloniex

Buy wall is set.

Notes: None

[Nagalim]

Are you gonna buy all those walls on bter Friday or pump poloniex?

[NSRBuyback]

Thursday, October 1, 2015

Beginning amount of buyback funds: 10.7 BTC

Shares purchased thus far: 0 NSR

Market price: 0.00000806 BTC

Buyback price: 0.00000806 BTC

Exchange: Poloniex

Buy wall is set.

Notes: @Nagalim Good question. We believe the primary intent of the motion is to purchase as many NSR as possible to burn. There are a number of advantages to also using BTER on Friday (if necessary), including:

• A lower average cost to purchase NSR, resulting in more NSR purchased
• It would provide shareholders with access to NSR buybacks who might not otherwise be able to participate due to the identity requirements of Poloniex
• It would increase the difficulty of front-running our buyback (by clearing out the sell wall in advance). With two exchanges (Poloniex, BTER) and a random Friday purchase time it will be very difficult to front-run.

Given those reasons, we will use BTER if there is a clear financial advantage to shareholders by doing so.

[tomjoad]

Someone placed a 8.50 BTC buy wall just ahead of ours at 0.00000820 BTC. There is now a 2.4M NSR buy wall on Poloniex at the last traded market price.

[Sentinelrv]

Looks like that buy wall was cut in half overnight. Do you think our buy wall should stay where it is for another day since it’s around the same price. It might be a sweet spot. If that other wall gets eaten the rest of the way then ours is next.

[NSRBuyback]

Friday, October 2, 2015

Beginning amount of buyback funds: 10.7 BTC

Shares purchased thus far: 0 NSR

Market price: 0.00000887 BTC

Notes: Open market purchases will begin at some point in the next 24 hours. While no shares have been purchased yet, shareholders should be pleased that the NSR market price has risen from 0.00000777 to 0.00000887 BTC in five days.

[NSRBuyback]

Update

Poloniex has a $2000 per day withdrawal limit, and we are unable to complete verification to increase that limit. Accordingly, to complete our purchase on Friday we must choose to either:

1. Purchase a portion of NSR at increased rates on Poloniex, or
2. Wait until the daily limit has expired, so that funds can be transferred to BTER to purchase cheaper NSR.

We have elected to go with option 2. There will be a slight delay in completing the purchase as a result, but it will result in a better financial outcome for shareholders.

We have already purchased 911,149 NSR for between 0.00000863 and 0.00000890 BTC. There are 2.70 BTC remaining for share repurchase. Our apologies for the slight delay. The NSR burn will still be completed on the weekend.

[zoro]

if i am not mistaken, poloniex needs only address and phone in order to increase limit to 7000$.
no IDs or other documentation. what is the problem?

[NSRBuyback]

NSR Buyback #1 is complete. 1,210,886.0073 NSR were burned, representing approximately 0.15% of the total NSR supply.

Details:
Debit: 0.00 NSR
Credit: 0.00 NSR
Transaction fee: -1210886.0073 NSR
Net amount: -1210886.0073 NSR
Transaction ID: ebd182c5c8658b249b7a33df56b5bc878e39f3315c623cac2bd0ae0d10a4e08c

Thank you to the user who set a sell wall on Poloniex for 2.70 BTC, allowing us to quickly complete the buyback.

9.9 BTC will be used for next week’s NSR Buyback #2.

[tomjoad]