NSR Buyback #17 - Week of January 18, 2016

[masterOfDisaster]

Poloniex NSR wall from the buyback is gone, but another one appeared at 751 Satoshis:

Bter’s wall is barely touched:

[MaVo]

Has the buyback been completed?

[Nagalim]

Nah, friday i take down the walls and rearrange funds between the exchanges, then buy at the time ive predetermined randomly. I took down the walls a couple hours ago.

[MaVo]

So what are the terms that should be applied for this week’s buyback? I am confused.

[Nagalim]

At some point today ill buy a bunch of nsr and burn them.

[MaVo]

Is that according to the applicable motion? Could you provide me with a link?

[Nagalim]

There is a link in the OP

“If any excess funds remain on Friday they will be used to purchase NSR from the sell wall on Poloniex, up to a maximum of Thursday’s market price plus 50%.”

We started using bter in addition to poloniex, so while using bter goes against the explicit terms of the motion, i feel @tomjoad achieved a sense of shareholder consent for doing buynacks on bter.

[MaVo]

Ok and now you will purchase NSR step by step during the day or will you do it like Tomjoad, buying up into a certain wall in one move?

[huafei]

no 150% buyback today？

[MaVo]

It seems not…

[Nagalim]

friday i take down the walls and rearrange funds between the exchanges, then buy at the time ive predetermined randomly. I took down the walls a couple hours ago.

This is still true two hours later. Please be patient.

[NSRBuyback]

Friday, January 22, 2016

Funds Purchased Thursday: 1544769 NSR

Previous Market Price: 0.0000088 BTC

Buyback Price: 0.0000139 BTC (150% of market price)

Maximum Price Paid: 0.00001095

Total Shares Purchased with 24 BTC: 2522887.653 NSR

The burn should be posted this weekend. I recommend FLOT and shareholders consider depositing more to Poloniex, as that seems to be where much of the volume occurs recently.

[huafei]

polo have limit withdraw

[NSRBuyback]

I have a withdrawal limit that can handle most any volume in just a few days.

[mhps]

i take down the walls

if you do this for an extended period of time, those who wanted to sell into the buy wall then won’t be able to do it.

[Nagalim]

Its very hard to move funds between exchanges when they’re in a buy wall. The procedure is to leave the buy wall at 100% price for approx 24 hours and if it hasnt been eaten why would I expect another couple hours to make a huge difference? The wall is taken down so I can rearrange funds ad get prepared to buy into the sell walls. Im not sure how I would do that with the walls still up without attracting manipulation.

[mhps]

I take that you are moving part of the wall to the other exchange where there are better sell orders. You d on’t need to take down all the buy wall. But I agree it’s not a big problem.

[Nagalim]

If i leave part of the buy wall up then traders know precisely how many funds i have on each exchange and can use that info to manipulate me, knowing i have to go through the congested btc network to move funds back and forth if traders take down or put up orders.

[NSRBuyback]

NSR Buyback #17 is complete. 2,522,881 NSR were burned.

Transaction ID: 388057a9511fd35d7f5f9fbdd81688f97f24b8bccb6573e8c01e2142c388ed26

We have burned 45,476,209 NSR since buybacks began. The circulating NSR supply is now 798,945,287.9 NSR, not counting FLOT funds. We are officially below the 800 million supply mark.

[tomjoad]