Planning to park B&C Exchange NuBits

[JordanLee]

There are nearly 150,000 NBT in the B&C Development fund. Given that parking poses no risks that the fund is not already exposed to by holding NuBits, the prudent course of action will be to park NuBits that won’t be needed during the time they are parked. This is, of course, prudent from the perspective of BlockShare holders, and not NuShare holders. It’s fair and proper to only take into account the interests of BlockShare holders when making decisions with B&C Exchange funds. I just wanted to inform everyone in advance (no B&C funds are parked at this moment), which will permit commenting on the issue before action is taken. The exact plan will depend on how rates move. It will require some guesswork about when rates are at their highest. Most likely, the funds will be parked at several different times and at different rates to mitigate the risk of choosing a single, poorly timed parking transaction. The total NuBits parked should be around 100,000 and will hopefully add several thousand USNBT to the B&C Exchange development fund.

NuBits held on behalf of NuShare holders will not be parked.

[Nagalim]

It’s fine for B&C to try to attain as many NBT as possible using parking, but it should also be noted that it is in B&C’s best interest to avoid breaking the peg when later using those funds. This is for a variety of reasons, including B&C’s own success and common shareholder interest.

[masterOfDisaster]

Seeing NBT from T1 being parked would be even more awesome, but T2 or T3 is better than no NBT being parked with regard to “the standard”.
The only thing that worries me: the development funds are not really in circulation.
Parking them does affect the math of Nu’s liquidity situation, but not really the pressure on the buy side.
Those NBT are kind of “parked” already - for BCE development.

So I’m on the fence with this announcement.
From BCE perspective it’s the rational choice - make money with funds that are sitting idle.
From Nu perspective it’s announcing that NBT, which are calculated as “in circulation” (but effectively aren’t) will be used to make some money by parking them.

[Sentinelrv]

We could use this as an example to advertise park rates in the Bitcointalk thread that mhps made…

https://bitcointalk.org/index.php?topic=1447342

Once B&C parks development funds, explain to people what happened, how many NuBits were parked at what rate, how much interest they will receive and when the NuBits will be unparked and available again. An example that people can see might help get others to buy NuBits and park them.

[Cybnate]

From BCE perspective it’s the rational choice - make money with funds that are sitting idle.From Nu perspective it’s announcing that NBT, which are calculated as “in circulation” (but effectively aren’t) will be used to make some money by parking them.

Being a shareholder for both, I’m also on the fence as per above reasons. Might slightly prefer the status-quo.
It also reminds me that Nu needs to be able to vote for caps on the interest rates and terms provided. Should be something for roadmap Nu3.0.

[Sabreiib]

So the fund collected as BTC/PPC are all coverted to NBT.

[masterOfDisaster]

I remember that procedure (convert and hold all BCE funds in NBT), but don’t remember where I’ve read it.

[Nagalim]

@JordanLee. Can you at least us how much you’ve parked? The B&C park obfuscates the effect of park rates on market pressures.

[JordanLee]

Nearly 99,200 USNBT held by B&C Exchange have been parked. These will return more than 3240 USNBT over the next three months.

No additional parking of B&C Exchange NuBits is expected.

[cryptog]

These will return more than 3240 USNBT over the next three months.

So the goal here is to make revenues for B&C.

[masterOfDisaster]

From BCE perspective: sure
But Nu’s goal of having NBT parked was achieved as well.

Win-win!

Why should Nu care who parks?
…or do you struggle with the guess that the parked NBT were not really in circulation, because they are held in a development fund?

I fear Nu is not able to keep those and really circulating NBT apart.
The calculation needs to include the BCE development fund NBT just like any other NBT.
If Jordan hadn’t told about the parking, you wouldn’t have known.

[cryptog]

Why should Nu care who parks?..or do you struggle with the guess that the parked NBT were not really in circulatio

Agreed.

[JordanLee]

B&C Exchange parked NuBits now total slightly more than 118,000. Total premium is now more than 4160 NBT.

[backpacker]

118,000

these are unpark addresses ordered by estimated unpark time:

2016-08-23 17:06 BMbVe6DgVpcoD498V7JyzpicZMvWR3TMp8 2098.4597
2016-08-23 17:03 BAVUeaY3gXETgZsPvHZHYyksi8sENv5ki8 2098.439
2016-08-23 16:55 BN1SKB14Y4R4PRhJkZoni2aNsTbZBfnRtG 2077.3665
2016-08-23 16:53 BDPWp63fnsvatJozh5zXgwRyo7SuGnWmgh 2203.2472
2016-08-23 16:50 BDAbtGSMk58iHu5WzmkeFaw64Lxfo5f8JR 2622.4583
2016-08-23 16:47 BAD5qHNPamgeKNvJEdKFopvti5Le4fxW8B 2622.8406
2016-08-23 16:42 BFPAVkcjDKP1kFhRmDdsWu4sNmQRRmQhvE 3042.2468
2016-08-23 16:35 BHMVDx81pi2ysgRTbGq4hNjN4f81uQqNrY 3054.9257
2016-08-05 23:17 BKMVyqG89uDvjTtR3iMs8SuBA9ysX1chLJ 1043.5996
2016-08-04 19:44 B7ypPQqrhzs6ZQktxmJNzze6n7TywpmY2n 3150.8759
2016-08-04 19:42 BBuXv8o9ETjEs89iydYaeuHBjiCqx6Fpd3 3152.8791
2016-08-04 13:07 BDDYCiHP14Rtgbff5Bqc9NjeRV7xcLXh1q 24330.8311
2016-08-03 21:32 BDgaRTSt7GWDXJ2peAxwTFKSYjgb7iSFQ2 4300.2187
2016-07-20 21:48 BFPQEDA8YYKbWfuCeAkpTgbvS2zzS2TH8L 3030.5407
2016-07-05 21:47 BG1TnPTdoFzLDBYDRhbiUcDe67JScf9s9X 3096.4679
2016-07-05 21:36 B8WkPDkNKcPV6j4VdjFkcnSptdwqf4FsGz 15483.4829
2016-07-04 21:07 BTT8fCbKvQM2ZD7Nbk3aLYwdiah5qgj5Ud 103.4275
2016-07-01 23:21 BFZX2irJeWbL4HHdYmPBSCDBjrE2zTY3wA 513.4151
2016-06-27 03:43 BDDYCiHP14Rtgbff5Bqc9NjeRV7xcLXh1q 15462.9725
2016-06-10 12:36 B6W3z7CGqBCzUmCME2NUUetJ1w3dcxurJr 420.383
2016-06-09 23:28 B4cXHduHu4FLDWM6k22whxQb5LVkmBXTYP 262.1621
2016-05-27 03:40 BDDYCiHP14Rtgbff5Bqc9NjeRV7xcLXh1q 30430.7482

you can follow these addresses to find where the moneys are at the moment.