Thanks for the clarification. Adding to my datafeed. Will need to look into the DR proposal this weekend amongst a few other discussions.
Anybody can do that. It’s a wiki post.
I’d do it, but don’t want to mess up the post on my mobile phone…
Oh I didn’t know that, I’ll try adding it myself 
Using only bks as collateral is not satisfactory to me.
It is an illiquid asset at this stage.
I would have wanted something like half of the whole collateral in bitcoins.
Besides, 30k is a bit too much.
I would have preferred something like 15 or 20k.
However the overall idea of NuSafe is good.
I am hesitating to vote right now.
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Liquidity of BKS on the open market is indeed very low, although @tomjoad’s post in the other thread seems to indicate a decent amount of volume is happening in private trades. A collateral in bitcoin would be interesting as well but of course bitcoin is very volatile (which is the reason for doing an hedge in the first place) I’d argue more so than BKS.
I would welcome a similar proposal to Nusafe from a shareholder proposing to put up BTC as collateral. Unfortunately I do not have large amounts of bitcoins for long term holding so this is not an option for me. I went with 30k based on my poll in the other thread and the suggestion from @nagalim.
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This is going to need more support if it is to pass, I urge shareholders who are in favor to not forget to vote for this proposal.
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I would vote for it if the amount was under or equal to 20k. The reason is that I would like to prioritize NSR buy backs.
This doesn’t affect buybacks, it replaces some of the btc covering 15% nbt we keep in T4 with a contract for USD.
I see. If this motion passes, 30k among T4 will be kept in USD, the rest in BTC?
Yah. The arguments have mostly been about the BKS collateral used to secure the $30k USD contract with @Dhume, the magnitude of the hedge, and the fee. @Dhume conceded to a somewhat generous offer compared to the starting offer.
In that case, I think this motion is reasonable. It would help Nu protect the peg in case of a black swan event in which bitcoin undergoes a huge decreased in price.
e3966c4205ebb2966110218435ad21d9c5c8f2c0 voted.
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Congrats. Now we need to talk about who will hold your BKS. Does BKS multisig exist?
I am excited to see how this will proceed.
About the colateral, what coins can flot accepts?
Whatever has multisig addresses?
I am thinking to try something like this with much smaller amount 
BCE RPC says yes:
bcexchanged help | head -n 8
addmultisigaddress <nrequired> <'["key","key"]'> [account]
backupwallet <destination>
burn <amount> <unit> [comment]
checkwallet
createmultisig nrequired ["key",...]
createrawtransaction [{"txid":txid,"vout":n},...]{address:amount,...}
decoderawtransaction <hex string>
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I’m very excited this has passed and within roughly 18000 blocks as well, this strong support strengthens my belief that holding USD over BTC for reserve purposes is desired by many. I would like to thank all shareholders who voted for this motion.
I have send out a message to FLOT to create a 5 out of 7 BKS multisig address (as the motion dictates I will not be part of this multisig) for the BKS collateral. When the address is created I will send a few test BKS to insure that everything is working as intended and so FLOT can do a test transaction. When completed successfully I will transfer the full collateral in BKS and request 30.000 USD in BTC from @Jordanlee. I will inform shareholders of the proceedings in this thread.
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With only 11 BTC in tier 4 right now, there isn’t any question in my mind that now is an appropriate time for the full deployment of NuSafe funds to refill tier 4 reserves. I would like to see $15,000 in BTC transferred to FLOT and $15,000 in BTC transferred to my NuLagoon Tube paired address beginning in 15nBBD. If you decide to allocate it differently that is fine, so long as it makes it into tier 4 somehow.
I am currently on the road (on mobile) and wasn’t supposed to return until monday I have changed my plans and will be home tommorow (due to ip restrictions I can only acces the account from my home address). I can send the funds tommorow afternoon, unless a different request comes along I will send the funds to above mentioned addresses.
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The current liquidity situation looks like this:
Oh my god, no orders at Poloniex!
Don’t worry, $9,000 add up to the bid side. They are not reported by ALix, because they have an increased spread:
status of zoro dual side NuBot at Poloniex:
nud getliquidityinfo B | grep BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo -A 2
"BJs4YbtaqCmxeHLiR6zzjnZEotYVFAPfMo" : {
"buy" : 9029.16,
"sell" : 11400.701Btw. - those funds were merely reduced by a few hundred USD today when Poloniex had practically no funds on bid side at a tight spread.
Following your motion
I recommend that we initiate a discussion amongst FLOT members.
I see some need for activating the funds, but it’s almost sure that the regulations from “Standard and Core” motion kick in this week and NSR get sold to replenish the buy side. Then again this will not bring enough funds to make the T4 reserve look good.
We could as well wait some more to see what happens next - we have some time, because we still have gateways, which by the way hold some BTC.
And as soon as BTC drops, it will look better. Do we want to gamble on that?
If we just want to make the books look better, let @zoro terminate the Poloniex operation, I have roughly 2 BTC at hitBTC, @Cybnate has funds at Bittrex and Poloniex.
Except for hitBTC I dare say, we need the BTC where they are, though!
I was rather trying to imply that it doesn’t look as bad as it might appear at first glance because the major exchanges NuLagoon Tube and Poloniex don’t look very bad, while the rest of the liquidity network is in no perfect condition.
Terminating NuLagoon now will once more show how BTC volatility is a problem.
@Dhume, please remind me: how many BTC did you get from Nu to convert them to USD?
I fear we seriously need to consider activating NuSafe.
@cryptog, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle, what do you say?
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