As Chief of Liquidity Operations, I am requesting that all of the above funds be transferred to liquidity operations address BJLmVRdGFi4q7Zidwzr4CPPsLT6pozR31a, an address I have the key to. They are all shareholders funds earmarked for liquidity operations.
@jooize, I would like you to send 100,000 US-NBT there as well.
Blockheight is 1160588
Total US-NBT = 1,136,561.74
Shareholder controlled US-NBT
Total US-NBT in circulation is 165,209.49
Reserves (in US-NBT)
Total Tier 1 reserves: 14729.21
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 234,462 US-NBT
We are required to have 79,192.97 US-NBT in tier 1 through 4 reserves. This means that as soon as 64,463.76 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
Blockheight is 1174033
Total US-NBT = 1,141,159.11
Shareholder controlled US-NBT
Total US-NBT in circulation is 146,553.12
Reserves (in US-NBT)
Total Tier 1 reserves: 12758.73
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 218,528 US-NBT
We are required to have 70,591.83 US-NBT in tier 1 through 4
reserves. This means that as soon as 57,833.10 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
Blockheight is 1180227
Total US-NBT = 1,141,158.2551
Shareholder controlled US-NBT
Total US-NBT in circulation is 146,524.37
Reserves (in US-NBT)
Total Tier 1 reserves: 15441.82
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 199,001 US-NBT
We are required to have 70,578.51 US-NBT in tier 1 through 4 reserves. This means that as soon as 55,136.69 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
Blockheight is 1188945
US-NBT
Total US-NBT = 1,141,169.6631
Shareholder controlled US-NBT
Total US-NBT in circulation is 147,110.50
CN-NBT
Total CN-NBT = 2,000,000
Shareholder controlled CN-NBT
Total CN-NBT in circulation is 0
Total NuBits (including all kinds) in circulation is 147,110.50 US-NBT
Reserves (in US-NBT)
Total Tier 1 reserves: 17536.24
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 177,065 US-NBT
We are required to have 70,850.06 US-NBT in tier 1 through 4 reserves. This means that as soon as 53,313.82 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
Blockheight is 1199337
US-NBT
Total US-NBT = 1,141,167.06
Shareholder controlled US-NBT
Total US-NBT in circulation is 137,224.39
CN-NBT
Total CN-NBT = 2,000,000
Shareholder controlled CN-NBT
Total CN-NBT in circulation is 0
Total NuBits (including all kinds) in circulation is 137,224.39 US-NBT
Reserves (in US-NBT)
Total Tier 1 reserves: 18667.36
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 144,073 US-NBT
We are required to have 66,258.38 US-NBT in tier 1 through 4 reserves. This means that as soon as 47,591.02 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
There has been heavy downward pressure on the NuBit supply this last week due to a 20% rise in Bitcoin and the announcement that Poloniex is delisting US NuBits 5 days ago. Even so, it only resulted in a reduction in the circulating money supply of about 10,000. If that is what happens under very adverse circumstances, what will happen under neutral or favorable conditions?
Furthermore, even with this bad news and shrink in the money supply, our distance from reserve equilibrium continues to collapse, by nearly $6,000 or 11% this week. Each of the 6 six weeks this data has been collected and reported, we have moved closer to reserve equilibrium and NSR buybacks. The system is working and NSR buybacks are steadily drawing closer.
Block height is 1209251
US-NBT
Total US-NBT = 1141170.89
Shareholder controlled US-NBT
Total US-NBT in circulation is 136,742.66
CN-NBT
Total CN-NBT = 2,000,000
Shareholder controlled CN-NBT
Total CN-NBT in circulation is 0
Total NuBits (including all kinds) in circulation is 136,742.66 US-NBT
Reserves (in US-NBT)
Total Tier 1 reserves: 18271.88
Total Tier 4 reserves: 0
The primary reserves in tier 5 and 6 are undefined, but monthly liquidity of NSR is currently 89,116 US-NBT
We are required to have 66,034.01 US-NBT in tier 1 through 4 reserves. This means that as soon as 47,472.13 US-NBT is raised through NSR, US-NBT or CN-NBT sales on a combined basis, any additional funds raised can go to NSR buyback, less any additional reserve requirements or funds spent going forward.
47472 .13 US-NBTNeed to rely on the sale of NSR to achieve it?
Now every day to sell 4000000NSR only get 0.5BTC, which takes a very long time to achieve it!
Some time ago to sell 2000000NSR a day, later said to reduce to 1000000NSR every day, why now need to sell 4000000NSR?
NSR is only sold to take the fate of cash it?
We will raise the $47000 needed to reach equilibrium by selling NSR if necessary in the amount of 1% of the shortage from equilibrium (that is about $470 right now) each day. Much better would be to raise the $47,000 by selling currency, either US-NBT or CN-NBT. There is no reason it needs to be done with painful NSR sales.
Who bought NSR, every day as much as the sale
We don’t know. The trades are conducted on Poloniex, so they know.
Here is a graph of the total currency in circulation data reported in this thread. It looks ugly, but it does level off toward the end of the year. Even with the Poloniex delisting announcement on December 19th and the fast moving Bitcoin rally from $790 to $1023 since then, the currency supply took only a modest dip.
With extraordinary downward pressure on the money supply only slightly reducing the number of NuBits in circulation, we appear to be in a good position for a turnaround in the direction of the money supply.
In the near term, we would only need to get the money supply up to around $200,000 to see NSR sales halt and NSR buybacks begin.
How much is it now?
Of course.
Well, in this situation, we know who are the dream chaser, and who are just traders.
I am one dream chaser, I’ll spend time in my rest life to chase the dream: crypto good money.
BTW, I like C++ language after reading 1000 pages of textbook, and have another 2000 pages to continue.
Blockheight: 1,220,019
Existing: 1,141,188.4182
Parked: 7,196.3467
FLOT*: 303,357.4886
Liquidity Operations**: 520,528.7356
Liquidity Operations***: 77,442.6745
Bittrex: 8,094.6230
Poloniex: 61,595.6111
NuLagoon Tube: 27,370.0000
Nu-owned: 998,389.1328
Circulating: 135,602.9387
* BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js
** BJLmVRdGFi4q7Zidwzr4CPPsLT6pozR31a
*** B71AkDjzm4S24KoXGoq6W3hynexAyNb9FV
Existing: 2,000,000
Parked: 0
Liquidity Operations*: 2,000,000
Circulating: 0
* YhSEw9AGBJ3KtqLrxeQrcsTVk5u57pA88m
Circulating NuBits (*-NBT): 135,602.9387
BTC presented as US-NBT.
Bittrex: 4539.3683
NuLagoon Tube: 2692.8600
Not in effect.
Nu jooize (Liquidity Operations)*: 10230.7200
* 17owruzTRANDYwCq77bSABQLXBxx3QaCea
Refer to parked amounts for current utilisation.
Montly liquidity of NuShares: $80,517
17,462.9483
Circulation: 135,602.9387
Reserve percentage: (50 - 135,602.9387/80,000) / 100 = 0.4830496327
Equilibrium Tier 1–4 reserve: 0.4830496327 * 135,602.9387 = 65,502.9497320756
Current Tier 1–4 reserve: 4539.3683 + 2692.8600 + 10230.7200 = 17,462.9483
Minimum Tier 1–4 reserve: 0.20 * 65,502.9497320756 = 13,100.5899464151
Move to equilibrium: 0.01 * (65,502.9497320756 - 17,462.9483) = 480.4000143208
Equilibrium is 65,502 US-NBT in Tier 1–4 reserves. We have 17,462 US-NBT. When 48,040 US-NBT is raised through NuShare, US NuBit, or Chinese NuBit sales on a combined basis, any additional funds raised can go to NuShare buybacks assuming no updated reserve requirements or funds spent.
Thanks @jooize for producing the latest figures. It is interesting that our money supply is only down very slightly to 135603 in the face of the delisting announcement. On December 17th the money supply was 147111. That is a drop of $11500, which is pretty modest considering the major loss of market that occurred.
If the money supply refuses to collapse, then the major NSR sales are indeed over. The pace of NSR sales have already dramatically lowered in the last month or so.
What we are doing remains a bold experiment. We have had some amazing successes so far and some things that didn’t work the first time. We have discovered an incredibly robust mechanism for a DAO to maintain a stable currency. That is a huge and incredibly remarkable achievement. We have struggled to maintain shareholder control over non-NSR shareholder funds, hence the exchange defaults of February 2015 and the Augeas default of June 2016. It shouldn’t be surprising that the world’s first Decentralized Autonomous Organization would have a little to learn about how to keep control of its funds. It is a difficult and complex problem. I have outlined how to avoid these problems going forward.
This is what remarkable innovation looks like. We try things, observe the results, make conclusions about how to improve, then execute. We do this for the sake of NuShare holders and NuBit holders, but also to reach our lofty ideals of giving humanity a stable private currency.
Bitusd did it better. You basically stole the bts model half way through and implemented it shoddily. Nu, by the white paper, is based on park rates, which failed spectacularly. The asset-debt trade was instituted late in the game in a completely unautomated way.
It is instructive to compare the number of nsr on the chain before nbt were distributed and after they were bought back. You should easily find that Nu is hemmoraging money. This is basically the worst designed and executed asset-debt trading mechanism ever created. It would be a challenge to find a company that burned a larger % of their total funding on sheer asset-debt trades back and forth.
