Supply, Reserves, and Equilibrium (superseded by automation)

Liquidity
#204

I agree that more explicit NuSafe liquidation conditions would be bolstering for faith in our reserves.

#205

v0.9.1 use buyside BTC instead of full reserve; revision of standard and core

Nushares buyback calculation as of Sun May 22 23:25:16 UTC 2016
blocks":886943
Total NBT = 1318281.649

Uncirculating Nubits

Total NBT in circulation is 735013.307400 NBT.

Tier 4 Funds

Tier 4 buy side funds controlled by FLOT

bitfinex BTC mid price is 437.385 USD
btc-e PPC average price is 0.000785 BTC

Tier 4 buy side funds 106.822468 BTC, 0.000000 PPC, and $30000.000000, valued $76722.545127 (175.411926 BTC)

Of the 735013.307400 NBT in circulation, 735013.307400 - 30000.000000 = 705013.307400 NBT are outstanding.

15.00 percent of outstanding Nubits, 105751.996110 NBT (241.782402 BTC), are reserved and excluded from the share buyback calculation.

106.822468 - 241.782402 = -134.959935 BTC (76722.545127 - 105751.996110 = -59029.450983 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -6.7480 BTC (~ -2951.47 NBT)

Standard < -2500: Sell 2951.47 NBT (6.7480 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3525.066537 NBT

Standard x F (-1967.648366) < -1000: Sell -1967.65 NBT (4.4987 BTC) amount of PPC next week.

FLOT BTC Operations (buy side)
#206

Ok, looks good to me, but this is for today not friday. We need one number for the week, and I’m sticking with the -$2446.59. Of course, it is up to FLOT ultimately, but I’m pretty sure everyone is going along with what you and I are saying.

#207

The last math meant to show the math only.

Ehhhh, well I think we are the only ones who know what is going on. :wink:

#208

I try to follow as good as I can :wink:

#209

Updated version
v0.9.3 update BTC held by JL Current Liquidity

Nushares buyback calculation as of Sat May 28 06:43:40 UTC 2016
blocks":895073
Total NBT = 1323934.5242

Uncirculating Nubits

Total NBT in circulation is 699175.402600 NBT.

Tier 4 Funds

bitfinex BTC mid price is 505.365 USD
btc-e PPC average price is 0.000775 BTC

Tier 4 buy side funds 11.551468 BTC, 0.000000 PPC, and $30000.000000, valued $35837.707580 (70.914503 BTC)

Of the 699175.402600 NBT in circulation, 699175.402600 - 30000.000000 = 669175.402600 NBT are outstanding.

15.00 percent of outstanding Nubits, 100376.310390 NBT (198.621413 BTC), are reserved and excluded from the share buyback calculation.

11.551468 - 198.621413 = -187.069945 BTC (35837.707580 - 100376.310390 = -94538.602810 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -9.3535 BTC (~ -4726.93 NBT)

Standard < -2500: Sell 4726.93 NBT (9.3535 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3345.877013 NBT

Standard x F (-3151.286760) < -1000: Sell -3151.29 NBT (6.2357 BTC) amount of PPC next week.

2 Likes
Balance Sheet Attacks
It is time for immediate use of tier 6 liquidity (NSR sales)
[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority
It is time for immediate use of tier 6 liquidity (NSR sales)
Park Rate Voting
#210

I’d like to explain some of the more obscure points in current way to calculate. The current way is really calculating BTC and PPC, NSR reserve flows. NuSafe is only considered by subtracting it from our nubits liability.. Parked Nubits are not considered.

So the line

should be considered a suggestion if NuSafe is not to be used. Assume 100k NBT will stay parked next week we would have 200BTC less liability. If half of NuSafe is further coverted as T4 reserve in BTC, we would have

41.610685 - 175.598544 = -133.987859 BTC (35764.355759 - 87626.307390 = -66861.951631 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -6.6994 BTC (~ -3343.10 NBT).

Can NuSafe be used to substitute NSR buy back? The Standard and Core doesn’t really say.

#211

Id really rather we operate based off the 4726.93 number. NuSafe deployment will be used for next calculation, we don’t know how long those funds will last either.

#212

Do we then sell NSR until the number is reached?

#213

Just one nsr amount, determined before taking them to market. Of course FLOT can do what they feel they must, but it is important that we stick to the plan for now.

#214

Let s move fast. Btc might rise even further.

#215

We could just sell them for nbt via blind auction and we wouldnt have to worry about the btc price or rushing the market.

Doing this in a hurry is not likely to get a better price than keeping a level head.

1 Like
#216

We wish.

1 Like
[Draft] motion to increase the percentage of reserves
#217

v0.9.4 NuSafe emptied. Cosmetic words.
v0.9.3 update BTC held by JL Current Liquidity

Nushares buyback calculation as of Sat Jun 4 00:06:15 UTC 2016
blocks":904272
Total NBT = 1323197.0875

Uncirculating Nubits

Total NBT in circulation is 710197.995900 NBT.

Tier 4 Funds

bitfinex BTC mid price is 571.07499999999995 USD
btc-e PPC average price is 0.00067 BTC

Tier 4 buy side funds 19.742368 BTC, 0.000000 PPC, and $0.000000, valued $11274.372754 (19.742368 BTC)

Of the 710197.995900 NBT in circulation, 710197.995900 - 0.000000(NuSafe) = 710197.995900 NBT are outstanding.

15.00 percent of outstanding Nubits, 106529.699385 NBT (186.542397 BTC), are reserved and excluded from the share buyback calculation.

19.742368 - 186.542397 = -166.800029 BTC (11274.372754 - 106529.699385 = -95255.326631 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -8.3400 BTC (~ -4762.77 NBT)

Standard < -2500: Sell 4762.77 NBT (8.3400 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3550.989980 NBT

Standard x F (-3175.177554) < -1000: Sell -3175.18 NBT (5.5600 BTC) amount of PPC next week.

2 Likes
[Discussion] Alternative plan for Nu to wither this storm
[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority
FLOT NSR Operations (buy side)
#218

This was the week when btc started to rally almost continuously

The buyback pool was -40 BTC then, meaning that the pool was short on fund. During the rally in mid-April and late May Nu T4 reserve lost rate was about 90BTC/week to defend the peg. Had there been no buybacks, Nu would have 555.6 BTC more in its reserve. These reserve could last 6 weeks of unstopped btc rallying, starting May 21.

2 Likes
[Poll] When do you think the next NSR buyback will occur?
[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority
[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority
What is going on with Poloniex?
#219

Selling NSR in a time, when NBT doesn’t look all great is hard enough.
Selling NSR in a time, when NBT doesn’t look all great, because of a BTC bull run is even worse; people just don’t want to trade their BTC for NSR - for two reasons…

1 Like
#220

The only real NSR demand we’ve seen for as long as I’ve been a shareholder seem to have been the buybacks, which seem to have been used by desperate shareholders as a way out of Nu.

#221

how many BTC will be used if we want to buy back all NBT at market?

#222

the latest calculation showed out standing nbt at ~710k , about 1200 btc at current rate.

#223

Really astonished that shareholders agreed to spend so many BTC to buyback. They are really deserved to today’s situation.

2 Likes