[Passed] Liquidbits.net trustless liquidity provision on USD, EUR and BTC pairs

CCEDK has had40k volume over the last 24h on NBT/EUR.

This fiat pair has generated most of the volume for NBT over the last 24h.

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Using EUR/NBT as a proxy to trade/convert EUR/USD ?

Interesting remark.
EUR/USD is indeed increasing. http://finance.yahoo.com/echarts?s=EURUSD%3DX+Interactive#{“range”:“5d”}

FYI have updated and restarted the server and swapped wallets. Server should now be available again for testing without pay-outs though.

Does this mean each person has to pay 250 NBT to use the pool?

The NSR holders have to pay that amount to the pool operator(s).
The participants can join the pool for free.


LiquidBits.net is live!

The custodial grant has just passed. You can sign up now and with that the 30 days period starts. The liquidity is being send to the client.

You can find the instructions here: http://cybnate.github.io/index-liquidbits.html

I hope that the Plunge software can run with LiquidBits soon. Currently it stops working after a few minutes.
I know that @woollysammoth is working on it.
The Plunge software will auto-install and you can basically skip all the steps except the first 3 in the instructions.

Please let me know if you have any questions.


With 0% fee at ccedk for the trading pairs NBT/BTC and BTC/EUR this offers a perfect chance for liquidbits to hedge BTC buys in EUR at 0 cost (proxy them to EUR, store them as Tier 2 liquidity).
This allows liquidbits to operate at reduced volatility cost opening the door to very profitable overall operation.
…I already have some money at ccedk :wink:


Concretely speaking what would be your hedging strategy?

Simply speaking: move some of the BTC that are received in the NBT/BTC pair over to the BTC/EUR pair.
This poses a USD/EUR volatility risk and requires a liquid BTC/EUR market.
But as there’s 0% fee for BTC/EUR it might be cheaper than to face the volatility of the BTC market.

Basically you need to a level of BTC in the buy side of the NBT/BTC pair to define when or how much BTC you want to shift to EUR.
I bet this can be done automatically by the server component of nupool (if you know what you do…)

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So u convert volatility on nbt/btc into eur/usd. The latter is certainly less volatile than the former. Nice.

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This isn’t where it really lies. It’s the btc/EUR that’s gonna be an issue, as that market is completely illiquid on ccedk. You’re just gonna end up putting btc orders on that pair rather than nbt/btc. You can only use the btc/EUR pair if you have someone to trade with.

Although on ccedk interface, my nbts were clearly put for sales, liquidbits bot indicated 0 nbts order placement.
Then I manually cancelled the orders in ccedk interface and this time liquidbits bots mentioned the nbts in ask order, as expected.
Besides, do I need to git pull or anything?


I have seen that before but only when I rebooted the server. I thought it was just an anomaly, but it looks like the bot doesn’t see or clears it’s previous orders. Haven’t been able to reproduce this as I don’t want to do server restarts, but please let me know if you see more of this.

No, the client had no updates in the last release (v1.00LB)

Is this normal on startup? 2015/05/12-13:44:13 ERROR: register: user already exists with different address: [my pool client address]

I changed my receive address to a different NuBits address and restarted

Also is there a way to check if payout for a client ID has been made? I can PM you my id if need be. My balance went above a dollar and reset but I don’t see a payment at the address listed in config file.

You’ll need a new set of API keys to change your payout address.

Have you checked the old address for the payment?

Bollocks! Ok thanks for the info, the recovery key on my old wallet [coinomi] is not working for me right now :frowning: Guess it’s time to get new api key

Edit: I got the old wallet to open but I don’t see any balance :frowning: Might possibly be cause it was in error state the majority of the time balance was being generated. I just didn’t think anything of it.

Can you check that address on the blockexplorer?

I already did. Nothing