Nu Blind Auction NSR #5 (closed)

Trading
#1

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.

Contact

Use subject: Nu Blind Auction NSR #5

  • Private message.
  • nu@esko.bar
  • BM-2cVrqHUd3LNLDSGxJF4DCLnF3moFwcxNgy

Bid

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).

Selection

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.

Lot

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.

Calculation

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

Actively Maintained Data Feeds
[Voting] 100 Million Nushares to FLOT-NSR to Replenish Reserve and Reduce Nu Liability
#2

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

#3

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.

#4

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.

#5

@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.

#6

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

#7

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.