Nubits buy side volume

[hamiltino]

the buy side volume is alot less than that if you take into account the actual bid prices. 0.96+ should be what you count as buy volume the rest should be discarded from your calculation.

[hamiltino]

No real answers?

Joke ponzi coin is what this is then.

[Chronos]

You might need to wait more than 26 minutes for answers.

The buy side liquidity is spread over multiple exchanges. Are you looking at just one exchange?

[Marshall]

I’m looking at BTER right now and I see the buy wall has been eaten through. CCEDK still has about 80 BTC. Shouldn’t NuBot re-establish a new buy wall?

[beachlurker]

Back up to:

247482.3709 (buyside)
339431.5948 (sellside)

[JordanLee]

I see some buy side support on Bter now.

This is a scenario where liquidity needs to be re-balanced among the exchanges as I’ve talked about in detail on a couple of occasions here:

Finalized evolution of liquidity operations

The following is the finalized version of the motion I am advancing to guide development of our liquidity operations. The motion hash you need to enter into your client to vote for it is: 65CB60D096508A7FA9ECC2017B38BC3AFEB5663D *****Begin motion***** Liquidity operations should have the following tiers. The first tier is available to the market immediately, but is at higher risk of loss than the other tiers. Subsequent tiers have the disadvantage of not being immediately available but featu…

@cryptog has responded that he is interested in filling the role, so hopefully we will see a proposal from him soon that will replenish liquidity when it runs out on a single exchange.

[desrever]

Joke ponzi coin is what this is then.

Hi @hamiltino I very warm heartingly welcome you in our community, where we treat concerned individuals like yourself very very seriously.

The aggregated buy liquidity available across 5 different exchanges is made automatically available at any point in time right into your nu client by an open source trading bot (which you can go and review and I will be happy to drive you in). The liquidity is expressed in NuBits so that you do not need to do any math and conversion with prices. Last time I checked it was around 250k USD. It is also available via RPC if you want to build a third party application on top of it. You can also go back in time and explore the liquidity availability with a fine grain using our beta api http://docs.nubits.com/v1.0/docs/historical-data-api .

I hope I answered all of your questions and if you have more doubts, please do not hesitate to ask.

Sincerely, mr ponzi

[cryptog]

@cryptog has responded that he is interested in filling the role, so hopefully we will see a proposal from him soon that will replenish liquidity when it runs out on a single exchange.

I am thinking about fulfilling this role but I am also worried by the potential loss since btc/usd is in a downtrend.
That is why I am also considering providing some liquidity for nbt/usd on ccedk. After all the pair that really counts is nbt/usd and there is no liquidity.
I think there is a need. Am i correct?
I would prefer it over offering liquidity for ntb/btc on bter because there is less risk.
Of course, I could ask for more compensation than for nbt/usd.

[Ben]

If i buy alot of nubits i wouldn’t be able to sell them with this sort of imbalance.

If you bought lots of NuBits the funds you used would be available on the buy-side to satisfy your desire to them cash back out of NuBits at some point in the future.

[desrever]

If you bought lots of NuBits the funds you used would be available on the buy-side to satisfy your desire to them cash back out of NuBits at some point in the future.

dat

[Marshall]

CCEDK buy wall is now gone as well.

[Ben]

CCEDK buy wall is now gone as well.

It’s an interesting swap. We have too much buy-side liquidity on the NBT/PPC market and not enough on the NBT/BTC market.

[JordanLee]

There is buy side support on several markets at the present time, so the peg remains. However, buy side support is missing from CCEDK and Bter at the moment due to very recent sales of NuBits. 300 BTC of tier 4 buy side support will be coming to Bter and CCEDK very soon.

[cryptog]

2/3 of the buy wall on NBT/BTC at Allcoin has been eaten up as well.

[JordanLee]

Buy side support has been restored to Bter.

[cryptog]

Indeed. So you need to wait for someone to buy nbt in exchange for btc before getting back a decent wall. This is problematic in case too much time is elapsed until a trader decides to do so. It can be solved with a higher trading activity.

[cryptog]

@JordanLee Is smaller quantity of buy support (5000 nbt) acceptable? I think smaller chunk is also useful.

[JordanLee]

Buy side support at CCEDK has also been restored. Current buy side liquidity network wide is 234857 NBT and an additional 50000 will be added within an hour.

@cryptog we don’t wait for someone to buy NBT by chance on the open market when buy side liquidity gets low. We bring in liquidity from tier 4 ourselves. There is still 518 BTC in tier 4 ready to be used when and if needed to provide buy support. This liquidity does not display in the Nu client.

[cryptog]

20:58 JST:

50k nbts on nbt/btc at bter.
14k nbts on nbt/btc at ccedk
4k nbts on nbt/btc at allcoin

Nice Job

@JordanLee

quote=“JordanLee, post:20, topic:905”]
We bring in liquidity from tier 4 ourselves.
[/quote]

I see. I guess I need to review Finalized evolution of liquidity operations
I feel this post is crucial.

[cryptog]

@cryptog has responded that he is interested in filling the role, so hopefully we will see a proposal from him soon that will replenish liquidity when it runs out on a single exchange.

This time, we have 153BTCs worth of buy support at bter and 50BTC at ccedk.
Last time, the unbalance was the other way round.
So my interpretation is that I would need to transfer back and forth between the 2 exchanges depending on the situation, say for 1 month.