You are right about T4 <-> T3.
Anyway, it’s not T1 or T2.
A proposal by @Dhume in which he offers services on T1-T2 at exchanges with USD pairs would help 
could bcex help here one day?
I don’t think so.
I have no clue how BCE will ever be able to deal with fiat.
Only “synthetic fiat” like NBT, USDT, bitUSD work with BCE as far as I can tell.
1 Like
Good luck with usdt on bcex, i highly doubt it.
I doubt it - even more than bitUSD (for other reasons).
But in difference to fiat it’s at least technically possible.
USDT fails due to the KYC/AML policies.
Are you seriously expecting that ALP operators need to fund the liquidity operations in advance? Well good luck with finding operators then. It will at least increase the cost as I will ask even more compensation for lost opportunities for the money being locked away.
There are no NuBot operations on CCEDK because that won’t work. I think you are slightly misinformed. A fiat operation with NuBot is not barely viable. It will be very expensive and provide significantly less value for money. See the discussion on NuSafe above.
I’m more than happy to have a discussion about costs and value and improve the LiquidBits services, but we need to be realistic. Don’t throw away the child with the bathwater. CCEDK also host our only BKS pairs, that is another reason to support this exchange for now.
I hope you and others with you will rethink your decision to not vote for this at this stage. It will force me to cease services in 2 weeks time or so. I hope we have alternatives in place by then and we don’t end up with what happened with Nu-pool.
3 Likes
Not sure what it is you are proposing? Using the 30k USD in active T1-2 liquidity operations?
Rather an addition to the current contract or a new contract - to keep it simple (in terms of contractual situation).
So basically using Nu funds to support the USD side of the NBT pair? While i’m not opposed to the idea I’m just not sure why we would want to use funds reserved to be an actual reserve for it. The problem would be if they get traded I would hold Nubits instead, and we can’t support the buy side with Nubits in case a drop in demand occurs.
Not necessarily - maybe with a new contract a part of NuSafe funds can be used to support USD/NBT pairs.
Using Nu funds would be an alternative (which likely would be cheaper than using your funds).
It’s too early to asses which is the better solution. The amount of money plays a role as well as the exchanges that shall be supported, the amounts, etc.
Would you basically be willing to support such an endeavour and under what conditions?
1 Like
Something like this:
You set aside $5k on exchange as T2. You run nubot on a nbt/usd pair, promoting $1k to T1. When you run out of usd you send the nbt to T4 who gives you btc that you sell for usd and put back on exchange. You note the efficiency of the operation (i.e. loss or gain on soread) and report it to shareholders. We pay you extra nbt for this service.
We can use a 2-of-3 address for the T4 interaction, like we’re talking about doing with gateways. If we think about it right we dont even have to specify a hard price because it’s all Nu funds. But yah, we’d have to lay down a powerful framework to avoid you getting hit for the loss due to efficiency.
I don’t really see how that’s different than some other shareholder doing the same apart from already using 5k that’s inside Nusafe. If we’d want this why not send 5k USD worth of BTC to someone offering to operate a Nubot on the desired exchange and have that person perform the same operation? I’m not very keen on using the funds I secured under the terms in which I’m 100% responsible for them on an exchange not of my choosing for T1-2 liquidity operations.
If the question is if I’m willing to operate a Nubot for USD/NBT pair with Nu funds other than those in Nusafe I’m not sure. I’d have to think about it, but not under the same conditions, I don’t want to responsible for exchange default/Nubot malfunction with Nu funds. We’re talking about CCEDK right?
Yes, but every NBT/fiat exchange is in our radar like southX
Well so the difference would be that you can deposit as fiat directly without having to sell the btc first. When you receive nbt you can send it back to T4. When your fiat reserves run low we can do a single event sale of any of our reserves to refill NuSafe.
You make a very solid point that this is a different model entirely than NuSafe. So let’s go ahead and separate it and work it out as another separate service run by some other shareholder independent of NuSafe (we can talk about possible interactions between this new service and NuSafe later).
So the nubot operator needs fiat. This fiat should come from a reserve held somewhere accessible that is more secure than simply holding it on-exchange. So let’s just go for it and say the fiat is held in a bank account. Deposits to exchange are done via okpay. Withdrawals of nbt go to T4. So then the most important action is the bank deposits, legally speaking. So the problem comes down to how do we turn T4 btc, ppc, or NuSafe funds into a bank deposit legally?
I think i agree that this is running in circles and probably selling btc on-exchange is the most efficient option. The issue there is that we affect the local economy of the exchange when we sell btc, which messes with the local supply and demand of usd, the very unit of account we are trying to peg to.
I guess i meant i would feel more comfortable with a 1 month grant and more transparent accounting –
ALP-2?
To which extent the BKS pairs will disappear if liquidbits loses its funding this term?
server is down 
There is a more serious issue this time:
Not only this, which goes away after a reset:
2016/03/17-15:21:44 ERROR: exception caught in main loop: list index out of range : list index out of range
But this, which I can’t fix
2016/03/17-12:58:21 WARNING: unable to validate request 1/1 for user at exchange ccedk on unit eur: exception caught: <urlopen error [Errno -2] Name or service not known>
and
could not retrieve ccedk ids, server is unreachable <urlopen error [Errno -2] Name or service not known>
Logging a call with CCEDK
1 Like
This is not good, found the real root cause:
My provider has severe issues:
AMS DNS Connectivity
Thu Mar 17 15:30:29 2016
Our networking team is still investigating issues with Google DNS in our AMS regions. During this time we recommend changing your droplet to another DNS provider, such as OpenDNS. If you need assistance with this, feel free to open a support ticket. We will provide an update as soon as one is available.
Not able to make the DNS changes right now due to other comittments. If problem persists in next 12 hours I will setup another DNS or set up a server in another location.
Recommend to cancel your order manually if required as this outage is likely to take longer. Most order has been cancelled automatically I noticed.
Also the Bittrex and Poloniex bot are no longer functional. The Poloniex order has been cancelled, the Bittrex order is still stuck due to yesterday’s isolated problem on Bittrex.
3 Likes
That doesn’t sound very good…
Thank you for all your efforts in supporting liquidity provision in the face of all the trouble!
…at least at Poloniex there are additional liquidity providers:
Thu Mar 17 23:46:12 UTC 2016
status of mOD dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
"BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP" : {
"buy" : 25014.95,
"sell" : 5809.8706
status of zoro dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo -A 2
"BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo" : {
"buy" : 11357.41,
"sell" : 14616.1002
status of Cybnate dual side PyBot at Poloniex:
nud getliquiditydetails B | grep B954pkUEdkeT1G5Lq14Cisij5no3RVxHYe -A 20 | grep poloniex -A 2
"1:NBTBTC:poloniex:LiquidBits" : {
"buy" : 0.0,
"sell" : 0.0
status of NuLagoon dual side NuBot at Poloniex:
nud getliquiditydetails B | grep BTRnV9uLSPVJw4jn1JMV2Ki2cfFqPYip9o -A 100 | grep poloniex -A 2 | tail -n 3
"1:NBTBTC:poloniex:0.3.2a_1457865931788_81cb7a" : {
"buy" : 14.2199,
"sell" : 3150.5138From my NuBot:
23:45:15.121 [priceTriggerTask] WARN - **SELL** orders re-initialized on **poloniex** : 3/3 placed successfully
total amount placed : 5809.87063002
Tier1 order size : 1500.0
Tier2 cumulative order size : 4309.87063002 (2 orders)
[c.n.n.s.S.StrategySecondaryPegUtils:246]
23:45:16.687 [checkNud] INFO - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
23:45:46.688 [checkNud] INFO - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
23:46:16.692 [checkNud] INFO - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
23:46:26.808 [priceTriggerTask] INFO - Order placed = OrderToPlace{type=SELL, pair=nbtbtc, size=1500.0, price=0.00243909} [com.nubits.nubot.models.MultipleOrdersResponse:88]
23:46:26.812 [priceTriggerTask] INFO - Order ID = 2002598459
[com.nubits.nubot.models.MultipleOrdersResponse:89]
23:46:26.816 [priceTriggerTask] INFO - Order placed = OrderToPlace{type=SELL, pair=nbtbtc, size=1574.97126, price=0.00245103} [com.nubits.nubot.models.MultipleOrdersResponse:88]
23:46:26.819 [priceTriggerTask] INFO - Order ID = 2002599458
[com.nubits.nubot.models.MultipleOrdersResponse:89]
23:46:26.822 [priceTriggerTask] INFO - Order placed = OrderToPlace{type=SELL, pair=nbtbtc, size=2734.89937002, price=0.00295556} [com.nubits.nubot.models.MultipleOrdersResponse:88]
23:46:26.825 [priceTriggerTask] INFO - Order ID = 2002600457
[com.nubits.nubot.models.MultipleOrdersResponse:89]
23:46:26.828 [priceTriggerTask] INFO - initOrders BUY [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:177]
23:46:32.608 [priceTriggerTask] WARN - Putting a cap on BUY liquidity available. [Total Balance : 59.76287365 BTC ; capped @ 14.33349259 BTC] [c.n.n.t.L.LiquidityDistributionModel:85]
23:46:32.632 [priceTriggerTask] INFO - BUY- OrderBook : ----- BUY-side order book :
0.979001,0.00233875,1500.0
0.974003,0.00232681,1574.97126
0.775205,0.0018519,2925.02873817
BUY wall volume : 1500.0
BUY tier2 volume = 4499.99999817 NBT
Total BUY volume = 5999.99999817 NBT
Best price :0.00233875 (0.9790007500000001$)
BUY balance left = 19016.73891172 NBT----- [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:227]
23:46:32.636 [priceTriggerTask] INFO - Trying to place 3 orders... [com.nubits.nubot.strategy.Secondary.StrategySecondaryPegUtils:228]
23:46:32.948 [priceTriggerTask] INFO - BUY wall order updated. ID : 2002601456 size: 1500.0 [com.nubits.nubot.trading.TradeUtils:231]
23:46:33.869 [priceTriggerTask] WARN - **BUY** orders re-initialized on **poloniex** : 3/3 placed successfully
total amount placed : 5999.99999817
Tier1 order size : 1500.0
Tier2 cumulative order size : 4499.99999817 (2 orders)
[c.n.n.s.S.StrategySecondaryPegUtils:246]
23:46:46.688 [checkNud] INFO - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
23:47:16.687 [checkNud] INFO - Executing class com.nubits.nubot.tasks.CheckNudTask [com.nubits.nubot.tasks.CheckNudTask:37]
23:47:22.471 [sendLiquidity] WARN - Liquidity is not being sent, a wall shift is happening. Will send on next execution. [c.n.n.t.SubmitLiquidityinfoTask:152]