nope - just seed only one side! The seeded auctions would be a way to distribute money to BKS holders not by distributing dividends, but by reducing the number of BKS.
Very interesting. I’d be worried about the long term stability of the auction, but that might not be a concern. I’ll have to think on it for a bit.
I was thinking of a way to reduce the number of BKS in a decentralized fashion, e.g. after urgent funding for something has been done by BKS grant and sale.
And seeded auction came to my mind
The parked nubits amount now to 5k roughly.
One week ago, I recall it amounted to 30k or so.
The impact on the buy liquidity has been negligible it seems.
It seems that soon Nu would have 0 parked nubits. In that situation, if the buy side becomes higher than the sell side for some period time and shareholders can be reasonably confident that the buy side liquidity is strong, I think we would be able to consider seriously selling NuBits for the first time in months…In fact I believe we have not experienced any sales this year.
Wise suggestion –
Now the totalparked is 2k NBT.
When is it expected to reach 0?
To which extent Parking rate is a efficient tool to control supply and swiftly respond to demand?
It’s not swift, it’s our most longterm solution. It’ll be vital once we have a thriving economy in my opinion.
With the 2.0 release, it is three times as swift as it used to be. Parking rates can be raised up to 3% per day, approximately.
Still, distributed consensus is a slow process. But it’s true that the network is plenty responsive to shareholders’ whims.
Only “totalparked” : 237.56, parked now.
totalparked: something like 130 NBT now
The latest share buyback calculation indicates reserves are slightly below our targets as established by motions. When reserves fall below the targets set by shareholders, it is time to take action to bring the reserve up. There are two methods of doing this that are under the direct control on shareholders: offering park rates and selling NuShares. Park rates should be used first. There is a regulation in effect that if park rates are offered for 30 consecutive days then NuShares must be sold and NuBit proceeds burned.
Technically right now shareholders should be setting park rates that will increase NuBit demand by a mere 283 NBT. A FLOT member has already signed a transaction, that if signed by other FLOT members would increase our reserves to where they are nearly 10,000 NBT over our targets. When the reserve requirement is met, park rates should be set back to zero.
A motion increasing the required reserves is very close to passing. If it does pass without any organic increase in our reserves, we will need to offer park rates to produce that additional reserve.
I agree with @JordanLee’s comments , though i believe the share selling motion should be updated to reflect our year of progress and things learned.
What do you suppose should be changed?
I think current crossing of buyback from positive to negative is still within static uncertainty. As mentioned here a half day’s timing difference could cause the buyback amount to fluctuate by several BTCs. Had two other NBT FLOT members signed this 10k nbt tx in time, the buyback would be positive.
So I think we should use the $2500 band @Nagalim set for buyback execution threshold also as the parkrate voting threshold to avoid over burden the shareholder.
What are our current reserves? in btc,fiat,other coins?
Do we have an updated list somewhere?
Start voting for park rates already. I’m at 1%, just to kick it off the ground. I may raise as high as 5% depending on the response of nubit owners to park rates. Our standard is going to be pretty negative this week, with the btc reserve motion passing.