[Passed] Sell side Nubot gateway (BTC/NBT) on SouthXchange @zoro

[zoro]

Yes, and i really hope we can have also ALPs there
@Nagalim , @Cybnate

[masterOfDisaster]

Missing wrappers were the problem that hindered from having ALP there afair.
Creating an ALPv2 CRFC operation with a small target and cheap daily costs would be great.to start with.

[cryptog]

BD8ork1pAt3vuVgGaX7j9Ei66xT3vvqrg2 , 1 NBT

Cost effective and could be very strategic in a country where btc is used as a way to receive money from overseas by some people it seems.

Voted.

[Cybnate]

Yes, and i really hope we can have also ALPs there @Nagalim , @Cybnate

Realistically it will take a few weeks to be comfortable running a ALPv2 service assuming it is stable. Will need to do some testing and ensuring the VPS environment is able to host it adequately. Maybe Nagalim and others have more time on their hands and deliver this week. It is not the highest priority for me.

[zoro]

Passed!
Thank you all.
I will prepare and test the nubot in SouthX asap.

[masterOfDisaster]

@zoro, I have lost some overview: yo you you provide liquidity at SouthXchange as NuOwned operation at the moment?

I’m asking, because next to Poloniex, SouthXchange is one of the few exchanges, where NBT trades happen:

Liquidity in the BTC/NBT pair - yes, it’s BTC/NBT! - is available at a tight spread:

It looks like it’s mainly BTC that get bought there and not really trading back and forth:

but we should keep an eye on that exchange. Relying solely on Poloniex is no good idea.

I’m going to have a closer look at my hitBTC operation soon.

[zoro]

This gateway has never been activated.
Do you think it is a good idea to activate it as a dual one?

[masterOfDisaster]

Who’s providing liquidity there then?

If activating it, it needs to be a dual side gateway. Big buyside offset (test the waters with 6% and maybe lower it to 4 to 3.5% over time according to my gut), small sellside offset (<0.5%).

Alas, we have no mandate to operate a dual side gateway there.
No, wait: you don’t have such a mandate!

What to make with it?
I have a sellside gateway at hitBTC, that could trade some NBT and has a bit over 2 BTC. It could be run dual side mode - oh, no mandate for that either.

@cryptog, @Dhume, @dysconnect, @jooize, @mhps, @ttutdxh, @woodstockmerkle,
what do you say about the current situation, the focus on Poloniex and the options to convert singleside operations to dualside ones?
I think we should draft motions for it and distribute funds between Poloniex, SouthXchange and hitBTC.
But I already declare: if something goes pear-shaped with Poloniex in between, I will make my hitBTC sellside gateway dualside - with or without motion.

I don’t think that trying to provide many exchanges with liquidity can really be managed and isn’t scalable.
At the moment I believe it’s important to have a liquidity provision that’s as reliable as possible - considering the circumstances.

Using SouthXchange and hitBTC next to Poloniex to run NuOwned operations makes sense to me.
What about bter?
What do you say?

[cryptog]

what do you say about the current situation, the focus on Poloniex and the options to convert singleside operations to dualside ones?

If needed, I would be ok.
Also, we need to diversify to spread the risk.
It seems that Polo, bittrex and hitbtc are the most important exchanges, to me at least.

[masterOfDisaster]

It seems that Polo, bittrex and hitbtc are the most important exchanges, to me at least.

Don’t underestimate SouthXchange with the BTC/NBT pair!
Reading 0.00181685 and working with it might be easy for bots, but human beings prefer reading 550 NBT knowing that it’s $550!

SouthXchange

Poloniex

[zoro]

I forgot that since the exchange changed nbt --> us-nbt, nubots cannot work anymore!

[masterOfDisaster]

Damn! I fear, you are right…
I start to lose my overview

[masterOfDisaster]

@desrever, can you confirm that the issues, that prevent NuBot from being used at SoutXchange (due to a flipped pair) can’t be fixed easily?

I tried the straight-forward approach and put

  "pair":"btc_nbt",

(instead of "pair":"nbt_btc", into the config).

But no matter in what way I update the keystore ([Activated at 2016-03-023] sell side gateway at hitBTC by masterOfDisaster), the result is:

11:02:05.774 [main] ERROR - javax.net.ssl.SSLHandshakeException: sun.security.validator.ValidatorException: PKIX path building failed: sun.security.provider.certpath.SunCertPathBuilderException: unable to find valid certification path to requested target [c.n.n.t.w.SouthxchangeWrapper:851]
11:02:05.776 [main] ERROR - could not launch bot com.nubits.nubot.bot.NuBotRunException: Problems while validating communication with exchange : [ ApiError [4 : Null Return] ] [c.n.n.l.MainLaunch:173]

The keystore file looks like this on the file system:

-rw-rw-r-- 1 user user 91113 May 27 15:29 nubot_keystore.jks

[leka]

What happened with this? It seemed like a good idea.

[ConfusedObserver]

JordanLee restored law and order:

[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority

Motion hash for voting: c070f654c2ff3e43a10fc5ff1dbf8ad74e36b18f This motion content is being managed on Daology here. Here is the full text, for convenience: tl;dr: The peg has not been lost. It has been abandoned. Replace everyone who abandoned it.

[Cybnate]

What happened with this? It seemed like a good idea.

It was a good idea and still is. I would definitely want to see this kind of liquidity provisioning re-instated. Maybe it will require a chuck of shares of the gateway operator in escrow to increase the likelihood these contracts would be executed, but that would be it.

[leka]

I think it would be wise to put a few bucks in this order book at a reasonable price (~$1): https://www.southxchange.com/Market/Book/USNBT/USD

I’m contributing by placing a buy order at exactly $1

[Phoenix]

I was previously unaware of this listing. I am very thankful you pointed it out to me. Esko and I have discussed it, and we have agreed to place $20,000 worth of liquidity there immediately: $5,000 on each of side of the BTC/US-NBT pair, and $5,000 on each side of the USD/US-NBT pair.

This listing has US-NBT as the denominator, which is excellent! That is what we always want, because it makes the price easy to understand: something like 4402.21 instead of the more difficult to understand 0.00022807. It looks like a normal Bitcoin price.

[jooize]

A post was merged into an existing topic: ConfusedObserver’s removed posts

[jooize]

A post was merged into an existing topic: ConfusedObserver’s removed posts