NuSafe - First operating period and Bi-weekly collateral report

Fellow shareholders I’m very glad to inform all of you that we’ve finally managed to secure the collateral for NuSafe. It was quite a hassle but thanks to contributions from many persons it has been completed (special thanks to @jooize, @ttutdxh and @jetjet13).

The collateral has been secured at this 3 of 5 multisig address: 97zQy9VWLYcM6BeYGBv7bEJpRdxAy5cvEH

This address is composed of @jooize, @mhps, @dysconnect, @woodstockmerkle and @cryptog.
The transactions ID’s for the collateral are as following (maximum transactions are roughly 1300 so 6 transactions were needed):

Tx 1 - 1300 BKS : 395d42d340fdde3309d777e0bf0d1a2ca13c93d70782d3f3c3e3c4281ab8ea5b

Tx 2 - 1300 BKS : 2718c0780c9517a4385adad2619e280bb7ecfbc6a41298c3f778387dd1164530

Tx 3 - 1300 BKS : cce88839389884ecbdeb4cf3ddb4d3cdec4ff7c86a846e69e1c958e31e23da60

Tx 4 - 1300 BKS : d0a9a76603e511ce7b2aaee720769715632ae0a0b36195de7fb6e6855d25768d

Tx 5 - 1300 BKS : c1140633e756463ec8ef04ebca7d62dc50a21b5b0d8ebeacf0343916ed3a6f87

Tx 6 - 1000 BKS : 98fbb98f2250930a2e66da12398821d0b5ef2060ccaff705970e444e30acf4ba

@jooize has confirmed the transactions for more information -> link

Following this 85 BTC was transferred to me this morning. I was able to sell them during a small uptick of BTC and managed to get an average price of slightly more than 383 USD per bitcoin. I now have 30.000 USD secured in my account and was left with 6,5367 BTC. I have withdrawn the remainder of the BTC back to the FLOT multisig address (Tx id: ef05aead53f5271c5fd9eaad8589b83d8a080850ba50de0b5beac7e783e36f70).

This marks the start of the first NuSafe operating period of 90 days. Beginning on 12 February and ending on the 11th of May. Any relevant information regarding NuSafe shall be posted in this topic. Also I will use this topic to post my weekly updates regarding collateral (BKS) value. I will aim to do this every Thursday with 18-02 being the first update.

NuSafe Motion

NuSafe Discussion

FLOT BKS topic


I inquired with Johny Georges about the transactions/address not showing up properly in the block explorer. Its fixed now you can view the above transactions and the multisig in the blockexplorer.

For example the address: 97zQy9VWLYcM6BeYGBv7bEJpRdxAy5cvEH

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It works! Warning: Chokes my browser.

Would you mind having Nusafe as NuSafe to be consistent with the naming scheme within Nu? I can change the topic titles, but I hesitate to potentially upset people by going around and microchanging these things.

I hadn’t thought about that at all to be honest, I will change the name from Nusafe to NuSafe.

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Fellow shareholders my sincere apologies for not posting a weekly collateral report last week and this Thursday. I have been on the road for a few days and had completely forgotten about it. I’ve marked the Thursdays in my digital calendar to prevent me from forgetting it again.

Weekly collateral report:

There has been some small volume going on at CCEDK. Last week some BKS (around 30 by the looks of it) have been sold in the 4.20-4.60 range. This week roughly 250 BKS have been trader in the 5.65/6.12 range. Hard to make definite statements about BKS value on such low volume but seems there is clear interest in buying BKS below 5/5.50. Pretty much no volume on the BTC/BKS pair.

Seeing the BKS that got traded last week I’m estimating BKS value to be at least somewhere in the 5-5.50 dollar range. If we take 5 dollars apiece the collateral should be valued at roughly 5 x 7500 = 37500 dollars. That’s 25% higher than the 30k USD hedge that is NuSafe. It will be interesting to see if we get this kind of trade volume on CCEDK the coming week as well!

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Honestly id be fine with once a month.

If more shareholders voice their support for this I’ll increase the intervals.

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Monthly seems to long. ideally when bitcoin volatility is high more attention should be paid. In reality bi-weekly is enough for me.


Bi-weekly collateral report

I’m pretty much just going to reiterate what Tom said, We actually saw some decent volume this week at the 5.75-6.50 price interval, Finishing with last 25 BKS being sold at 6.50. In terms of the BTC/NBT pair no one is selling below 7.20 USD so good news. Will be interesting to see if the 4.0 release will spike demand and price even higher on CCEDK. Estimating the price for this report at 6 dollars, this should evaluate the collateral at 6 x 7500 = 45000 USD, that’s 50% higher the the 30k USD hedged in NuSafe.


Bi-weekly collateral report

So we had some decent volume 2 weeks ago, it has however calmed down. Only a few BKS sold past 2 weeks for 6.25. Not much action whatsoever on CCEDK, there are some BKS for sale at 6.43 and up and some buy offers at 5.15 and down. Will put the estimate price at 5.75 for this report, this should put the collateral at 5.75 x 7500 = 43125 USD, that’s 43% higher than the 30k USD hedged in NuSafe.

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Bi-weekly collateral report

Things are starting to get interesting! In my last report there was little volume to be had, however in the past 2 weeks some pretty decent volume has developed. Roughly 325 BKS have been sold this past 2 weeks on CCEDK. Not only has a decent amount be traded none of them went below the price of 6.20$, the average price was about 6.30 and the latest price is 6.42$!

It seems interest in BKS is picking up with the recent acceleration in B&C development. The order books are starting to reflect this roughly 2.8k Nubits on the buy side, 1.6k of that is for a price above 6.30$ and the rest for prices above 6.18$. It seems more and more likely that prices below 6$ a piece are a thing of the past. Seeing recent volume, prices and buy support I am estimating the price for this report at 6 dollars, this should evaluate the collateral at 6 x 7500 = 45000 USD, that’s 50% higher than the 30k USD hedged in NuSafe.


Bi-weekly collateral report

In the past few weeks BKS has been solidifying a 6+ dollar price. In the past 2 weeks we’ve seen prices hover between 6,24 and 6,60 a piece. There was actually decent volume Monday on CCEDK with over 600 BKS traded. Also there is roughly 1.1k USD on CCEDK buy side supporting a price of over 6$ per BKS. For smaller holders liquidity shouldn’t be an issue as you can sell for a good price (6+) at any moment. The lastest 68 BKS traded sold for 6,42$ each! Seeing as we’re solidifying 6+ prices I am once again estimating the price for this report at 6 dollars, this should evaluate the collateral at 6 x 7500 = 45000 USD, that’s 50% higher than the 30k USD hedged in NuSafe.

@Nagalim just [posted] (We need a bks/nbt pair on poloniex) a call to petition Poloniex to add BKS and I would like to urge all BKS shareholders to follow up on this. Having BKS on Poloniex not only will do wonders for the liquidity of BKS but most importantly will add major visibility to our upcoming exchange. Poloniex is a large exchange and being visible with an active BKS pair is some of the best free advertisement we can get!

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