[Passed] Motion to begin NSR buyback immediately

[cryptog]

By the way, this motion does not specify any duration which leads to perpetual buy backs.

[Dhume]

By the way, this motion does not specify any duration which leads to perpetual buy backs.

They are limited by the minimal T4 requirement of 15% of outstanding Nubits.

[cryptog]

They are limited by the minimal T4 requirement of 15% of outstanding Nubits.

right.

[mhps]

They are limited by the minimal T4 requirement of 15% of outstanding Nubits.

Taking 10% of the current surplus everytime, you will never kill the surplus with buy backs, in theory.

[Nagalim]

In theory we have other things that we pay for with T4 (including btc volatility) and the asymptotic nature should not be a real issue. Meaning, buybacks aren’t the only thing that affect the value of T4 in USD.

[JordanLee]

To calculate the NuBits in circulation, I will start with all 3,198,900 blockchain NuBits. The following are tier 4 funds that should be excluded:

• BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC: 2,000,000
• B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj: 150,000
• BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi: 118,105
• BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js: 170,201

Using this method I arrive at 760,594 NBT in circulation. 15% of that sets the reserved tier 4 buy side funds at $114,089.

The BTC/USD exchange rate as of the end of Friday UTC was $463.70 (at Bitfinex). Tier 4 buy side funds consisted of 635.9 BTC valued at $294,865. $114,089 excluded from the share buyback calculation equals 246.0 BTC. 389.9 BTC sits in the share buyback pool. 10% of this (39.0 BTC) will be used for share buyback next week. That is equivalent to approximately $18084. This will be the 13th weekly share buyback.

It is my understanding that FLOT will provide @NSRBuyback with the 39.0 BTC.

[masterOfDisaster]

calculate the […] share buyback next week

Thank you for doing that.

It is my understanding that FLOT will provide @NSRBuyback with the 39.0 BTC.

The FLOT already has started creating the transactions to deposit funds at the @NSRBuyback Poloniex and Bter account.

[jooize]

Signed, 4 of 5-of-8.

[woodstockmerkle]

Signed 5 of 5-of-8

https://ttutdxh-nubits.github.io/cointoolkit/index.html?mode=bitcoin&verify=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

Sent. https://blockchain.info/tx/b6fe52563f62cf6c146cb14cd01d977f39cf3b0fab2cee30c3f98ab28e0da61d

[Dhume]

Darn it I was excited to sign again.

[mhps]

The amount of buy back fund for this week is … ? @JordanLee @NSRBuyback

[JordanLee]

I don’t have time at the moment to perform all the calculations. However, all the information needed to do so is publicly available, with the possible exception of how many shareholder Bitcoins I have in my possession. Because I always publicly report any use of these funds for liquidity operations, technically this is publicly available, although not easily accessible. I have 442.7 shareholder BTC in my possession. I’m curious to see if someone is willing to take the initiative to perform the calculations using the template I have provided in this thread. If not, I will publish the full figures like normal within a half day.

[masterOfDisaster]

To calculate the NuBits in circulation, I will start with all 3,199,120 blockchain NuBits.

date
Sat Dec 26 19:15:23 UTC 2015
nud -unit=B getinfo | grep supply
"moneysupply" : 3199120.7393,

The following are tier 4 funds that should be excluded:
BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC: 2,000,000
B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj: 150,000
BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi: 118,105
BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js: 170,201

Using this method I arrive at 760,814 NBT in circulation.
15% of that sets the reserved tier 4 buy side funds at $114,122.

The BTC/USD exchange rate as of the end of Friday UTC was $456.63 (at Bitfinex).
Tier 4 buy side funds controlled by FLOT consisted of 183.09 BTC.
Tier 4 buy side funds controlled by @JordanLee consisted of 442.7 BTC.
Tier 4 buy side funds total 625.79 BTC (valued $285,755).

$114,1229 excluded from the share buyback calculation equals 249.92 BTC.
625.79 - 249.92 = 375.87 BTC sits in the share buyback pool.
10% of this (37.5 BTC) will be used for share buyback next week.

That is equivalent to approximately $17,123.
This will be the 14th weekly share buyback.

It is my understanding that FLOT will provide @NSRBuyback with the 37.5 BTC.

I ran out of time doing the calculation, but will initiate the transfer from FLOT to @NSRBuyback later if nobody beats me to it.

[dysconnect]

It would actually be a bit tricky to sign right now unless we scrap the current pending transaction to your exit gateway. I couldn’t get cointoolkit to remove the top-most input, so it might need to be used in both transactions, which can’t be done.

[masterOfDisaster]

Assuming that
1PbsU6RsQjueUgtx2jC9oKaN62kXMjo8u5 is the @NSRBuyback deposit address at BTER and
128nNY1hpeiJkWGNPow5K48Acpaf8fpFYL the @NSRBuyback deposit address at Poloniex
I want to ask whether a transaction to transfer

27.5 BTC to 1PbsU6RsQjueUgtx2jC9oKaN62kXMjo8u5 and
10.0 BTC to 128nNY1hpeiJkWGNPow5K48Acpaf8fpFYL is expected by @NSRBuyback.

@NSRBuyback please confirm that this is according to your expectations

The transaction to transfer funds from FLOT to @NSRBuyback has been created and signed by me.

0100000003991693d73b2608e094086d00f02ef11860dd990379e39cf749e6fde3d4a0497501000000fd60010048304502210099c086852d9032df02e9643c1e936829b53ebd71aa0031c8fde79ce3c2ed4c1a022030c125647e48efc989d17f2e22a3eeb2320c77bc60899693222096e5d9b41579014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103a5fc09a5de595e4758bfbc3a932e2c448cc49a557dd6e64788cee530a76225212103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff1da60d8eb28af9c330ee2cab0f3bcf397f971dd04cb16c146ccf623f5652feb602000000fd5f010047304402200b9120d8082f7b7c50c3d33be39168b2e27560cc89ce06875038d7d8f6b9495f02204b364470d35d83c811ef372cfb8e5f9f2347a47be98b716aa8a63034ab271bb1014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103a5fc09a5de595e4758bfbc3a932e2c448cc49a557dd6e64788cee530a76225212103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffffd8f6cb01e2f2c991def8d1b93d931f5915b1dff8bcf2c83fcc89fa08863f511802000000fd5f0100473044022059b65069461d14dd484165782e296819f8996a79ff0c19891d803a5514c33578022073e2c3c4debe152dc2193e49456191016234d3481ea0872a53ec2b552404f80c014d130155210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c072102435b894b94b4b27dd24436b3f9ad0b9409d855ab4be6e91141d445804e84750b2102e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f210312cd6eb361c9ebb0d90e44946492a237eab4c7a7d88a0db800f2f460937cc22f21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff2103661a4370dfcfbcea25d1800057220f4572b6eecab95bb0670e8676a9e34451dc2103a5fc09a5de595e4758bfbc3a932e2c448cc49a557dd6e64788cee530a76225212103da8082062298c40f0b473b74f3c95b57eaaebe3e67ed30ce56347b2e727915fb58aeffffffff0300ca9a3b000000001976a9140c70e95bff7e770b046952652f0bb8b737c6183788ac80abe9a3000000001976a914f7eb09ac2bf52698dba16aea1c0955187103983988ac3942e8100000000017a914f716edbaa472c1470d36a3e78b17a4c9bb547fcf8700000000

Before the signing continues, we need consent from @NSRBuyback.

FLOT members, please check the transaction thoroughly before signing it - it’s the first one I created!

[mhps]

I am seeing this

Tier 4 buy side funds controlled by FLOT consisted of 183.09 BTC.

to be 20 BTC less. But I think @masterOfDisaster’s snapshot number should be used, assuming the difference is from continuous FLOT’s balancing operations.

I have signed it. Verify.

[masterOfDisaster]

Thank you for checking it thoroughly!
The 20 BTC were transferred roughly 8 hours ago from the FLOT address to my Poloniex buy side gateway to be traded for NBT.
The calculation used numbers from end of Friday, 2015-12-25 (UTC).

[jooize]

I’ll await @NSRBuyback’s confirmation before I sign.

[NSRBuyback]

@NSRBuyback please confirm that this is according to your expectations

Yes, please initiate the transfer.

[woodstockmerkle]

Signed 3 of 5-of-8

https://ttutdxh-nubits.github.io/cointoolkit/index.html?mode=bitcoin&verify=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