NSR Buyback #21 - Week of February 15, 2016

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 an email to nagalimnu@gmail.com to negotiate a deal.

This week will begin with 7.16098 BTC estimated at 2,786.62 NBT

Most Recent Ten Buybacks:

Buyback #11: Week of December 7, 2015
Buyback #12: Week of December 14, 2015
Buyback #13: Week of December 21, 2015
Buyback #14: Week of December 28, 2015
Buyback #15: Week of January 4, 2016
Buyback #16: Week of January 11, 2016
Buyback #17:Week of January 18, 2016
Buyback #18:Week of January 25, 2016
Buyback #19:Week of February 1, 2016
Buyback #20:Week of February 8, 2016

Monday, February 15, 2016

Beginning amount of buyback funds: 7.16 BTC

Market price: 0.00007 BTC

Buyback price: 0.0000049 BTC (70% of market price)

Exchanges: Poloniex

Buy walls are set.

Tuesday, February 16, 2016

Beginning amount of buyback funds: 7.16 BTC

Market price: 0.000067 BTC

Buyback price: 0.00000536 BTC (80% of market price)

Exchanges: Poloniex

Buy walls are set.

1 Like

Wednesday, February 17, 2016

Beginning amount of buyback funds: 7.16 BTC

Market price: 0.00007 BTC

Buyback price: 0.0000063 BTC (90% of market price)

Exchanges: Poloniex

Buy walls are set.

NSR Buyback #21 is complete. 1,135,371 NSR were burned.

Transaction ID: b0c3c6b9a123c96fa1bb2b00970dd02e5a6ed4f6aaa89ec7e24740fe74237e53

The circulating NSR supply is now 793,312,007.7 NSR, not counting FLOT funds. Please keep an eye to this page for running totals.

6 Likes

Why do we not count NSR FLOT fund again?

It is not freely circulating and subject to rules. FLOT funds are in reserve and would only be considered to be unlocked when tier 6 funds are required to maintain the peg.

We could pass a motion to burn NSR FLOT and it would happen without using additional funds. We can’t pass a motion and burn any of the other NSR without compensating the shareholder as in a buyback. NSR FLOT is not in circulation, as @cybnate said.

1 Like

We can a pass motion to buyback the FLOT NSR funds and burn then, cant we?

No need to buy them back; Nu already/still owns them (FLOT acts on behalf of Nu, is a Nu representative).
They could just be burned.

1 Like

Oh right - my bad.
So FLOT is a shareholder of Nu and owns some NuShares, just like I do –
2 questions arise to me:

  • these NSRs are stored in some wallets, just like mine – to that extent, they should add up in the total circulating NSR
  • what is the exact “legal” relationship between FLOT and Nu (DAC).

No, they reside in a multisig address.

They aren’t used for minting and putting them into circulation would earn Nu e.g. NBT or BTC.
They are not part of circulating NSR at the moment.

The members of FLOT got elected by the NSR holder majority vote through motions.
I’d call them elected representatives or delegates.

OK - I understand the FLOT NSR shall be treated differently from the standard NSR, from the owner and storing perspective.
However, its monetary value (its primary purpose as a reserve) as a token is equal to that of the standard NSR…

It’s just like how nbt held by flot arent considered in circulation. Like literally exactly the same.

1 Like