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.
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.
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.
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.
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.
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:
Purchase a portion of NSR at increased rates on Poloniex, or
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.
