[Passed]Sell side Nubot Gateway on Bter.com @huafei

[huafei]

some one have a wrong datafeed?

[Nagalim]

Youre only missing 0.25% to someone who configured wrong. I wouldnt worry about it.

@Cybnate thoughts here? Can you add? It’s only 50 nbt/month for a gateway operation, which is pretty cheap.

I suppose it’s worth noting that there aren’t a whole lot of nbt buy trades that go down on this pair. Still, the gateway only costs money if FLOT deposits here.

[Cybnate]

@Cybnate thoughts here? Can you add? It’s only 50 nbt/month for a gateway operation, which is pretty cheap.

I haven’t included this into my datafeed as I don’t think it is good to risk shareholder funds on BTER at the moment. On top of that I’m not keen supporting spreads of 2% anyway. For NU supported funds 1% is fine. Tighter for a small amount, similar to the Tether spread model.

[Nagalim]

Where can you buy a significant amount of tether at less than 2% spread? If you quickly buy then sell $2k usdt right now on poloniex btc/usdt you would eat a 2% spread.

[Cybnate]

I’m advocating for small spreads under say 2k, medium spreads up to 10k supported by the network. Everything above that can be self-supporting and can choose any spread they want and think can make money with. I’m still on the fence whether Nu funds should be used for those high spreads, I consider that not our core business of holding the peg.

[masterOfDisaster]

I’m still on the fence whether Nu funds should be used for those high spreads, I consider that not our core business of holding the peg.

It isn’t the core business, but as long as there are no orders from anybody at an extended spread, Nu needs to put them there.
And if there might in the future be orders on the books, Nu should rather increase the spread to make more room for others instead of withdrawing all funds from the exchange.

The Nu funds are the only reliable support for the peg when high volumes get traded in a short time!
Even an improved ALPv2 can’t handle that unless you use insanely high targets, which make the ALP operation costly.

That’s why we ended at ALP(v2) with small targets and a small spread PLUS Nu funded bot operations at a high spread, right?
It’s combining the best of both worlds in terms if efforts for Nu, reliability and costs.
You can translate the efforts into costs as well.
Then it’s no more and no less the attempt to get the best service for the money.

[Nagalim]

We need this now.

@huafei Whats the deposit address? Are you ready for premature activation?

[masterOfDisaster]

I can create a sell side gateway for the BTC pair at bter easily (if NuBot supports that).
The CNY pair is out of reach for me.

[Nagalim]

Id rather go with @huafei out of decentralization, but you’re free to setup bots wherever you want, lol.

[masterOfDisaster]

The more people, the better!
I just don’t want to miss NBT sale opportunities

[zoro]

MoD-bot, you are becoming a “single point of failure”

[masterOfDisaster]

Failing at NBT sell side only exchanges isn’t that bad.
Poloniex as one of the dual side exchanges has 3 bot operators!

[zoro]

I have sent some NBT in sell side (as ALP) although i don’t trust it

[masterOfDisaster]

NuBot ia running.
I’ll post a contract soon.

[huafei]

sorry , have a big work to do , i wll set up nubot right now

[masterOfDisaster]

[ANN] sell side gateway at Bter by masterOfDisaster

Continuing the discussion from [ANN] sell side gateway at Bittrex by masterOfDisaster: Intro To continue the path to a focussed liqudity provision scheme, I want to offer a sell side (sell side only!) gateway at Bter (US-NBT/BTC pair). That’s why I thought a sell side gateway there might be appreciated. About the exchange I have no clue about the abilities of API credentials. Bter doesn’t support listing/granting/removing rights from a API key pair. The NBT deposit address is BHrAi497tWLm4mK…

@Nagalim, if you consider the situation dire, you might consider depositing T3 custodian funds.
Although that’d put me in some trouble as it wouldn’t per definition activate the contract…
…and for you it could mean trouble as well, as your accounting would be messed up - you’d proxy NBT through my NuBot to BTC at FLOT address…

On second thought, I’m fine with receiving funds from a T3 custodian.
I consider you a “Nu representative” although not having listed T3 custodians explicitly.
It’s only you who’d get in trouble

[Nagalim]

Yah im not doing that. My contract is basically just for ALPs and MLPs, gateways are a T4 game.

[zoro]

situation dire,

You are talking about BTER?
Not in a thousand years
ALP gives me 0.67% now
(where are you people?)

[huafei]

I’m all turn to CNY pool…

[masterOfDisaster]

ALP gives me 0.67% now

And why do you think you get that rate at a FC pool?
I give you a hint: there’s only very little liquidity