[Passed] Motion to begin NSR buyback immediately

[crypto_coiner]

After several review, the motion seems reasonable and that does not hurt NSR value. Voted

[cryptog]

I think this proposal is reasonable and needed: a relatively substantial amount of funds remain in Tier 4 to protect the peg if needed (this plays the role of an insurance) while at the same time the network starts doing a buy back of NSRs since it has enough buy side liquidity (to give some returns to shareholders as a reward for expanding the network)

7b4955e91781e0e32f1e0c0c974fd4a7a9f972a3 voted.

[JordanLee]

Share buybacks currently have 38.66% support, and the number is still rapidly rising. If this motion passes before the end of Friday UTC, we will begin conducting share buybacks this weekend.

[JordanLee]

This has passed. The first buyback cycle will begin this Saturday. The total tier 4 buy side funds as of end of Friday UTC will be announced, which will determine the size of the buyback for this week. It is on track to be between $2000 and $3000.

[JordanLee]

[tomjoad]

I’ll begin working with @JordanLee this weekend to coordinate the buyback next week. In the meantime, if you are interested in selling NSR for less than 70% of the current market price please send a BitMessage to BM-2cVFzzfWwKkdxLmgZwhSFfGmKwqDrddDfv. Otherwise the buy wall will be set according to the motion at a random time each day next week.

[JordanLee]

Tier 4 buy side funds consist of 446.9 BTC. At a price of $235.09, the $80,000 excluded from the share buyback calculation equals 340.3 BTC. 106.6 BTC sits in the share buyback pool. 10% of this (10.7 BTC) will be used for share buyback next week. That is equivalent to approximately $2506.

[Nagalim]

All shareholders have an economic incentive to sell a small portion of their shares to Nu at an inflated price and buy back lower to solidify the network’s earnings. At least, that’s the way I see it. I.e. put up sky high nsr sell orders for a week.

[tomjoad]

Predicting the market is difficult. Some shareholders might have an incentive to sell their NSR at the lower purchase walls that are placed, if they are looking to sell many NSR and are concerned the total buyback (currently around $25,000) won’t be enough to satisfy all shareholders looking to exit. Likewise, shareholders could sell some of their shares on a Friday at inflated prices, but discover that the NSR market has accelerated in the wake of this positive news, removing their ability to buy back lower in the future.

I think we can agree that these share buybacks will be an effective tool for enhancing price discovery at the very least.

[Nagalim]

True, but the standard shareholder with no intent of actually exiting has an incentive to be the one Nu buys from. It is indeed possible that a $2k buy will start a blazing pump, but it is more likely that the price will shoot up during buybacks and drop down shortly thereafter. A shareholder is therefore incentivized to short in order to support the network and provide a lower nsr price for buybacks, and will most likely win out on the spread too.

[JordanLee]

The BTC/USD exchange rate as of the end of Friday UTC is $237.20. Tier 4 buy side funds consist of 436.2 BTC valued at $103,467. $80,000 excluded from the share buyback calculation equals 337.3 BTC. 98.9 BTC sits in the share buyback pool. 10% of this (9.9 BTC) will be used for share buyback next week. That is equivalent to approximately $2347.

[Sentinelrv]

Will we be advertising our first buyback and burns, similar to our first dividends?

[JordanLee]

The BTC/USD exchange rate as of the end of Friday UTC was $243.77. Tier 4 buy side funds consist of 426.3 BTC valued at $103,919. $80,000 excluded from the share buyback calculation equals 328.2 BTC. 98.1 BTC sits in the share buyback pool. 10% of this (9.8 BTC) will be used for share buyback next week. That is equivalent to approximately $2389. This will be the third weekly share buyback.

[JordanLee]

The BTC/USD exchange rate as of the end of Friday UTC was $262.75. Tier 4 buy side funds consist of 416.5 BTC valued at $109,435. $80,000 excluded from the share buyback calculation equals 304.5 BTC. 112 BTC sits in the share buyback pool. 10% of this (11.2 BTC) will be used for share buyback next week. That is equivalent to approximately $2943. This will be the fourth weekly share buyback.

[JordanLee]

The BTC/USD exchange rate as of the end of Friday UTC was $276.73. Tier 4 buy side funds consist of 405.3 BTC valued at $112,159. $80,000 excluded from the share buyback calculation equals 289.1 BTC. 116.2 BTC sits in the share buyback pool. 10% of this (11.6 BTC) will be used for share buyback next week. That is equivalent to approximately $3210. This will be the fifth weekly share buyback.

[JordanLee]

The BTC/USD exchange rate as of the end of Friday UTC was $328.51. Tier 4 buy side funds consist of 466.2 BTC valued at $153,153. $80,000 excluded from the share buyback calculation equals 243.5 BTC. 222.7 BTC sits in the share buyback pool. 10% of this (22.3 BTC) will be used for share buyback next week. That is equivalent to approximately $7326. This will be the sixth weekly share buyback.

[tomjoad]

Given the extended duration of buybacks so far - six weeks and counting, with no defined end date announced - I’m informing shareholders that I may or may not engage in personal NSR transactions in limited circumstances. If this happens I will be approaching people individually for private sales, as long as they have not communicated with @NSRBuyback in any way. I also may purchase NSR with my private funds from existing sell-walls on exchanges on every day except Fridays, when @NSRBuyback purchases from sell walls.

Generally speaking, if I choose to complete private NSR trades it will not use insider knowledge or front-run shareholder buyback funds from @NSRBuyback.

I hope by being transparent it won’t be an issue, but shareholders should consider electing a new representative for @NSRBuyback if there is any disagreement. I’m an enthusiastic shareholder just like everyone else and I won’t agree to an indefinite ban on personal NSR trading.

[NubitGuy]

i think abstaining from purchasing or selling personal NSR during periods should be lifted if you chose too make private trades I have no problem you doing so on private trades as long that the maximum amount of NSR are burnt for the Maximum amount of BTC available for the purchase of nushare

also just a idea I had maybe Nushareholders could have someone run a NuBuyBack bot that would make preset buys orders below the market price of Monday through Friday same tactic mention in the Motion with Buy&Burns commands once the purchase NSR From the BTC balance all remaining btc will be added for the next Burn week with updated in the forum BuyBacks Assistant bot style just a thought

[Nagalim]

NuBuyBack bot

[Draft discussion] - A market-maker to end NSR illiquidity

I think Nu should fund and design an automated market-maker to bring liquidity into NSR markets. The 'how exactly' is still up in the air and there might be more than one implementation to test. Something similar has been proposed in this forum before, in various threads and I think it's about time we move this proposal forward. I have a specific proposal, i.e. bring liquidity to a NSR/NBT pair since we have control of both the buyside and the sellside. I am also excited to open this discus…

[tomjoad]

One downside to a buyback bot is that a specified time each day would have to be programmed, which would create a risk of a user artificially inflating the buyback price one minute prior to the bot’s purchase. Having the purchasing done manually at a random time during the 24-hour period on Friday pretty much eliminates that attack vector.