Nu Blind Auction NSR #5 (closed)

Lot: 20,991,506 NSR (NuShares)
Estimated reserve price: 0.0006 US‑NBT/NSR or 76 satoshi/NSR (0.00000076 BTC)
Minimum bid: 500,000 NSR
Closes: End of Friday 2016–07–22 UTC

  • I promise to keep identities confidential, but blockchain transactions cannot be hidden.
  • All bids will be publicly listed after auction closes, before payment has been collected.
  • Bids are prioritised by price, then bid time down to the minute, and last quantity.
  • Time of bids with be set according to when the client says it was received (forum, email server, Bitmessage).
  • Winning bidders will be sent a unique US‑NBT or BTC address and need to pay within 48 hours after time specified in message (the time I send it).
  • Proceeds in US‑NBT will be burned within three days of receiving them, and burn transactions posted publicly.
  • Proceeds in BTC will be handled according to then current regulations.

Direct sales

You may contact me with offers for amounts higher than the auction lot.


Use subject: Nu Blind Auction NSR #5

  • Private message.
  • BM-2cVrqHUd3LNLDSGxJF4DCLnF3moFwcxNgy


Not updated for this week’s auction price.

I’d like to bid 150 US-NBT for 100,000 NSR.

I’d like to bid 1000 US NuBits at 0.002 price (US-NBT/NSR) (equaling 500,000 NuShares).


1000 NSR available.

A bids 500 US‑NBT at price P on Monday.
B bids 1000 US‑NBT at price P on Tuesday.

A wins and B wins the remainder, i.e. half of their bid.


Determined by the Standard in a weekly calculation, and reduced by amount of NuShares sold during the week before auction.

Standard: 48.1 M NSR
Exchange sales: 9108493.151 NSR
Direct sales: 18 M NSR

48.1 * 10^6 - 9108493.151 - 18 * 10^6 = 20991506.849

Reserve price

Estimated reserve price is set at the beginning of auction.

Final reserve price is set at the end of auction. A bit of discretion will be employed to counteract potential market manipulation.

Reserve price is set to 15% below market price.


NuShare market price: $0.000613
NuBit market price: $0.85

0.000613 * 0.85 = 0.00052105

0.00052105 * (100/85) = 0.000613

0.0006 US-NBT/NSR

0.00052105 USD is 0.00000076 BTC (76 satoshi).

76 satoshi/NSR

Bids are due in less than three hours, at the end of Friday UTC.

Auction closed.

Auction details.

Final reserve price

NuShare market price: $0.000485
NuBit market price: $0.77

0.000485 * 0.85 = 0.00041225

0.00041225 * (100/77) = 0.00053539

0.0005 US‑NBT/NSR

0.00041225 USD is 0.00000063 BTC (63 satoshi).

63 satoshi/NSR

Winner ID1 has been contacted.

Thank you shareholders for passing my 100 million NSR grant. As a result, I can send NSR payment to the auction winner as soon as their BTC payment is received by @jooize. I will do so.

@jooize without revealing any private info about bidders #1 and #2, can you say something about the likelihood that these bids were placed by separate people? It is just a little odd that they were identical, although a coincidence is possible given the price is just a market price with two significant digits and the quantity is simply the entire lot.

ID2’s message suggests they are the same person making sure to get the Bitmessage to me. ID1 sent two near identical messages.

Okay, so I’m an idiot. I would dearly appreciate if someone could provide me with formulas to determine which bid is higher between payment methods (US‑NBT and BTC). I do the best I can, but I’ll say again that I’m not versed in mathematics.

I forgot to update the BTC value. I need to write a script to avoid this. :disappointed:

63 satoshi is the final reserve price.

ID3 bid 9560 US-NBT for 20 M NSR at 0.000478 US‑NBT/NSR.
ID1 bid 13.2246 BTC for 20,991,506 NSR at 63 satoshi/NSR (final market price).

Bitcoin market price at end of auction: ~$650

0.00000063 * 650 = 0.0004095
0.00000063 * 650 * (100/77) = 0.000531818

13.2246 * 650 = 8595.99
13.2246 * 650 * (100/77) = 11163.623376623

ID1’s bid is higher than ID3’s.

ID4’s bid is higher than both.

ID4 wins for 1,875,000 NSR and ID1 the remainder 19,116,506 NSR.

I’m sorry.