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.
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right.
Taking 10% of the current surplus everytime, you will never kill the surplus with buy backs, in theory.
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.
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.
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Thank you for doing that.
The FLOT already has started creating the transactions to deposit funds at the @NSRBuyback Poloniex and Bter account.
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Signed 5 of 5-of-8
Sent. https://blockchain.info/tx/b6fe52563f62cf6c146cb14cd01d977f39cf3b0fab2cee30c3f98ab28e0da61d
5 Likes
Darn it I was excited to sign again. 
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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.
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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.
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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.
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.
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 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!
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I am seeing this
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.
1 Like
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).
Yes, please initiate the transfer.
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