Nu Blind Auction NSR #1 (closed)


#41

Nope :slight_smile: . But maybe I can make some a bit later. Basically when you’re crafting a raw transaction any “leftover” value in the transaction is burned as fees.


#42

https://bitcoin.org/en/developer-examples#simple-raw-transaction

This is a good article on how to create a raw transaction. You’ll note that when you get to the bottom of the raw transaction example it gives you the warning about the fee. Paying the high fee is actually what you want to to. Does that help?


#43

The easiest way:

  1. Transfer all the NuBits you want to burn to a single address.

  2. Use the exportprivkey RPC to get the private key of the address where you are burning NuBits. Pass in the public NBT address. You will need to call walletpassphrase RPC first.

  3. Create a new wallet by moving the existing one to another location. Encrypt the new wallet, but don’t bother backing it up because your key is stored in the original wallet.

  4. Import your NBT burn address using the importprivkey RPC and the private key as a parameter.

  5. Use the burn RPC to burn the entire wallet balance. The wallet is forced to use the only address with a balance: the one you imported.


#44

So what is the auction status right now? Would there be any kind of report? When?


#45

#46

@jooize


#47

3 days since the end of the auction, no report, no proof of burn or accounting for the Nushares successfully sold and how much left.

Is there any good reason for that?


#48

@jooize = @JordanLee = @IAmJordanLee = @Phoenix = @MrBean ?


#49

Report:

I will burn proceeds ASAP.

You flatter me. :flushed:


burn 2439.98 B "Nu Blind Auction NSR #1 Burn"
fe70d5af76bc72326165ccf346e38ce47ae4629004a7c1ba7a1408e96cdfdc9a

2440 US-NBT burned.

One participant (ID5) didn’t pay their 800 US-NBT for 750,000 NSR.


#50

Are those 750k still available?


#51

Put them in the next auction.


#52

Because no rule was set before auction about remaining NuShares, I will not sell them to anyone without order from FLOT or reference to passed motion.

@crypto_coiner put up a motion to buy the expected remainder of 415,000 NSR.


I want clarification about how to handle unpaid and remaining NuShares.

I also wonder about the fee. I paid what Nu.app asked, which was around 50 NSR for most. May I simply reserve some NuShares for that? I could probably take it from the winner’s amount, but I don’t want to add more steps of calculation for what is pennies.


#53

I think this must be public information.
The auction protects privacy of bidders supposing and if they honor their bid


#54

They should go to the next auction as keeping selling them is like prolonging the auction, which puts undue work load on the executioner, and encourages people not to follow the bidding process.

Of course anyone can ask to buy any amount of NSR at any price by raising a motion. For sporatic cases FLOT can do the selling. If it becomes prevalent, FLOT will have to appoint a sales managger.

What do other members think? @dysconnect @Dhume @ttutdxh @Dhume @masterOfDisaster @cryptog


#55

You can reserve or take from the next auction or get compensation for a summary amount frm FLOT.


#56

I am fine with what u ve proposed here.


#57

I won’t release their identity. If you believe this should be the case, push for that to be the rule of future auctions. I’m opposed.

Bidders may be anonymous anyway. Edit: Unless we force them not to be, of course.


#58

Would you be able to perform another auction this week?


#59

Yes.

To consider is reserve price. Do we want it at 0.001 US-NBT or less, if any? One person messaged saying they wouldn’t bid in this auction because of the reserve price.


1,164,801.00 NSR of Nu’s NuShares from Blind Auction NSR #1 remain in my wallet.

I think it’s most convenient accounting-wise to send the remainder back to FLOT and have FLOT send the whole amount to the auctioneer (me) for next auction (amount determined by the Standard).

I keep 5000 NSR for transaction fees. OK? They will be returned to FLOT at the time I’m no longer an auctioneer.


#60

If the FLOT prefer to carry-overm I think it is more convenient to both you and the FLOT if you lump them together with the next auction nsr, and auction the whole lot. But you decide.

OK with me.