[Passed] NSR auction motion

[JordanLee]

Why is it important to equal the buy side to the sell side?

This provides optimal support to the peg. Someone (@mhps?) recently said they expect the buy side to be even larger than the sell side long term. That makes some sense from the perspective that no one is concerned about our ability to suppress the NuBit price to $1.

[crypto_coiner]

Has there already been any bid yet?

[Chronos]

Has there already been any bid yet?

I think disclosing this might be a violation of the following rule:

Bidders will not see other bids.

Either way, bidders might put off bids until as late as possible, as the impacts of the CCEDK and BTER debacles become more clear.

[mhps]

Why is it important to equal the buy side to the sell side?

This provides optimal support to the peg. Someone (@mhps?) recently said they expect the buy side to be even larger than the sell side long term. That makes some sense from the perspective that no one is concerned about our ability to suppress the NuBit price to $1.

I can’t remember but could be in certain context. The ideal situation in my mind is having thousands and thousands currency changers, big and small, all over the place, buy and sell nubits by the side of thier stash of dollars, euros, pounds, yuans, with their own fund, at the market rate. One can’t even count the buy and sell side liquidity over the world. The number of nubits recycling in daily commerce is so immense that it serves as a deep stablizing liquidity pool. The value of 1 NBT is backed by goods and services it can buy or sell. Any deviation from US$1 is pulled back ultimately by Nu but usually by for-profit commercial financial firms. Sorry for the topic drift.

[cshelswell]

I’d be keen to bid on a bit but the minimum is rather high.

I have most of my assets in NSR already but would like to increase that

[crypto_coiner]

@assistant motion vote 876e10611809f3a90f2216fb61f107d3b7c9c469

[crypto_coiner]

The highest bid, the lowest accepted bid and the total funds received will be publicly released when settlement is complete.

When we send you a bid, is one going to receive an immediate response whether the bid has been accepted or not?

[Chronos]

is one going to receive an immediate response whether the bid has been accepted or not?

No, in a blind auction, bids are accepted/rejected at the same time that bidding is closed. An “accepted” bid is one that is high enough to purchase some of the auctioned NSR.

[crypto_coiner]

I suspect there’s going to be quite a large range of bid accepted [lowest-bid ~ highest bid accepted]

[crypto_coiner]

verified and voted.

[crypto_coiner]

@JordanLee How many NBTs would you like to raise, as an objective?

[woolly_sammoth]

This should work now. Apologies
@assistant motion vote 876e10611809f3a90f2216fb61f107d3b7c9c469

(I was trying to fix the search function that attempts to get the intro text and link for the motion. Cybnates data feed crops up a lot as it has a higher score when using the discourse search. Expect a fix later today)

[assistant]

Hi @woolly_sammoth

Here are the details for the Motion Vote on 876e10611809f3a90f2216fb61f107d3b7c9c469:

---

##[876e10611809f3a90f2216fb61f107d3b7c9c469][1]
[1]: https://discuss.nubits.com/t/cybnates-datafeed-beta
Blocks: 1918 (19.180000%)
Share Days: 556726408 (17.470817%)

---

Charter Cybnate's datafeed - BETA

Here is the information to subscribe to my experimental datafeed. Please take note of the disclaimer at the bottom before subscribing:

URL: https://raw.githubusercontent.com/Cybnate/NuNet-datafeed/master/Cybnate-datafeed.json
Signature URL: Read More

[Cybnate]

(I was trying to fix the search function that attempts to get the intro text and link for the motion. Cybnates data feed crops up a lot as it has a higher score when using the discourse search. Expect a fix later today)

Offtopic: Getting too popular in discourse. Hmm, let me know if I can do something in the formatting or so to make the assistant work properly

[woolly_sammoth]

It’s nothing that you’re doing wrong. I get the link for the motion using the forum search. The rules in place for guessing which one to use are a bit simplistic. Your data feed ends up with a higher score as it has more views, posts and mentions the hashes more often.
I have ideas for tweaking it, it’s just a matter of getting the coding done.

[Chronos]

This motion has passed. The auction bid deadline is therefore the end of 6 March UTC.

[Cybnate]

Hope we have some good outcomes. Everything above 400k would be great.
Will be glad when this is out of the way.

[crypto_coiner]

0.4cents per NSR is quite high a bid?

[cryptog]

The goal is obviously to raise as much money as possible.
I hope we will be surprised by a high intrinsic demand.

[Hyena]

Is the auction somehow advertised outside of Nubits community itself?
I personally have mentioned it here:
https://bitcointalk.org/index.php?topic=970740.msg10602620#msg10602620