NSR Buyback #10 - Week of November 30, 2015

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.

Previous Buybacks:

Buyback #1: Week of September 28, 2015
Buyback #2: Week of October 5, 2015
Buyback #3: Week of October 12, 2015
Buyback #4: Week of October 19, 2015
Buyback #5: Week of October 26, 2015
Buyback #6: Week of November 2, 2015
Buyback #7: Week of November 9, 2015
Buyback #8: Week of November 16, 2015
Buyback #9: Week of November 23, 2015

I have bad feelings about bter.com. They have failed to pay back the bitcoins they stole from their customers with the “hack” almost a year ago. I think it isn’t right to have so many bitcoins held in biter for the buyback.

BTER.com hacked bitcointalk thread

They are not paying any penny just shit things going to happen on site
now in last few weeks I never visit and have nothing in this site Chines
authorities not taking any action on them

i agree that bter should not have the most funds but for the volume BTC should be placed on poliniex nushare as the best chance of being notice by buyers not just for the buybacks but in general when volume hits poloniex coins get very volatile in price on bter they hardly move at all the risk of hacks is more likely on bter the polo exchange have a mod on 24/7 when something goes wrong they don’t hesitate too find a quick solution I do understand the issues of the withdrawal limit that why we need more executors accounts for the payback on polo or other options

I would argue that we don’t really want to push the price, we want to buy back as many nsr as possible. The fact is that there is more nsr being sold cheaper on bter than on polo. If we have $10k on polo come Friday, we can only withdraw $2k so we are basically forced to spend $8k on polo whether the sell orders are there or not.

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@Nagalim is correct that our only goal is to repurchase as many NSR as possible. BTER has not caused us any trouble since we began using them for buybacks. It is easier for us to place a large number of BTC on BTER and then withdraw to Poloniex on Fridays if necessary, because of the absence of daily withdrawal limits.

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Monday, November 30, 2015

Beginning amount of buyback funds: 46.6 BTC (10 BTC on Poloniex, 36.6 BTC on BTER)

Market price: 0.00001739 BTC

Buyback price: 0.00001217 BTC (70% of market price)

Exchanges: Poloniex & BTER

Buy walls are set.

Is there any way to see the whole depth chart on bter.com? How can you know how many NSR there is for sale at what price?

Long story short, there isn’t.

http://data.bter.com/api/1/depth/nsr_btc

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Tuesday, December 1, 2015

Beginning amount of buyback funds: 46.6 BTC (10 BTC on Poloniex, 36.6 BTC on BTER)

Market price: 0.00001637 BTC

Buyback price: 0.00001310 BTC (80% of market price)

Exchanges: Poloniex & BTER

Buy walls are set.

Wednesday, December 2, 2015

Beginning amount of buyback funds: 46.6 BTC (10 BTC on Poloniex, 36.6 BTC on BTER)

Market price: 0.00001700 BTC

Buyback price: 0.00001530 BTC (90% of market price)

Exchanges: Poloniex & BTER

Buy walls are set.

Thursday, December 3, 2015

Beginning amount of buyback funds: 46.6 BTC (10 BTC on Poloniex, 36.6 BTC on BTER)

Market price: 0.00001670 BTC

Buyback price: 0.00001670 BTC (100% of market price)

Exchanges: Poloniex & BTER

Buy walls are set.

Well that was quick. Buyback’s done for the week.

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For the second week in a row there was selling within seconds of the buy walls being posted. We suspect it is the same seller. If shareholders want to sell their NSR, they may have to sell below market price next week, if there is a large shareholder planning on selling over multiple weeks.

We have completed our purchase of 46.6 BTC worth of NSR. We are pleased that we were able to purchase approximately 2,784,837 NSR for burning this week. 2,330,000 NSR have been withdrawn and the remainder will be withdrawn within 24 hours.

We will provide transaction details of the NSR burn on Saturday or Sunday, similar to previous buybacks.

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NSR Buyback #10 is complete. 2,784,830 NSR were burned.

Debit: 0.00 NSR
Credit: 0.00 NSR
Transaction fee: -2784830.00 NSR
Net amount: -2784830.00 NSR
Transaction ID: a4bcab2c5565b611ee695e6bbc0b63197ace13ddcec25bfe2eac3a34eff511a9

We have burned 19,612,822 NSR since buybacks began. The current supply is 822,001,589 NSR.

39.9 BTC worth 14,512 USD will be used for NSR Buyback #11 next week.