It would be really nice to have NBT liquidity as we currently have none now, and there are people interested in purchasing and holding NBT right now.
I personally don’t trust the stability of existing exchanges offering Nubits. I’m also busy developing, but I’m getting regular messages requesting NBT liquidity (and questions if the bot was broken which I explained that it was not). I believe this could be a big opportunity to highlight the usefuless of NuBits to the communities that use Excoin, and I think it would be shame to miss it.
Why don’t you propose to provide liquidity on your own exchange?
I could provide Blackcoin and Bitcoin liquidity but I don’t have NBT to provide NBT liquidity nor do many people in the existing community. Do CCDEK and BTER provide their own NBT liquidity? If they do where did this original NBT come from?
My only option would be to trust other exchanges without proof of reserves, some of which who have incredibly long page loads and poor functionality (sending recovery passwords in plain-text emails), some of which who have poor reputations, some of which who have unresponsive support staff, some of which don’t use full 8 decimal places on Bitcoins when withdrawing and on top of that pay high fees.
If I’m honestly being told these exchanges have a monopoly on the NBT and the only suggested way to remedy it is to support these operations, then I have a hard time seeing how these markets will work in the way I have presented to our community in our announcements.
Back in October [KTM][1] and [jmiller][2]'s proposals were approved vote-generated NBT (generated by blockchain) to jump start LPC operations. In the course of executing the latter proposal some NBTs were [moved away for security concerns][3]. Maybe @jmiller could consider moving some of these NBT to exco.in ? Technically it needs a motion vote.
edit: @willy
[1]: Proposal to Operate a NuBits Grant to Provide Early Stage, Dual-Side Liquidity and Shareholder Dividends
[2]: [Passed] Proposal to Provide Sell-Side Liquidity and Shareholder Dividends
[3]: [Passed] Proposal to Provide Sell-Side Liquidity and Shareholder Dividends
You can also have funds emitted, if shareholders trust you enough (see also: le white paper)
Edit: damn you @mhps
Okay, that makes much more sense. I was worried for a moment when it started to appear that I had to patronage services of earlier adopters to participate.
Think about it. But don’t forget: shareholders want their dividends.
Don’t know how a custodian who owns or is an exchange at the same time would handle transaction fees.
Someone has added NBT liquidity, we appreciate the support provided.
Perfect. You should think about a proposal anyway. No pressure.
Thank you, I appreciate the information and links to past proposals. I still have a lot to catch up on and understand about the Nu Community and I appreciate the level of discourse and quality of responses I get here.
We are considering trying to run NuBot and partake in the process to learn more about Nu.
The one month custodianship period is over, my bot has just been shut down.
To provide continuity on @Excoin I coordinated with @KTm that now took over the pair temporarily, waiting for next custodian to be elected and start : @learnmore or/and @muchogusto .
It has been a fun ride : I had the opportunity of acting as a user of a product while developing it. I worked closely with the exchange, adapted the logic around the NBT-centric market. It also gave me the opportunity to contribute to the network with my own funds, and stress test nubot in one the highest moment of volatility.
I experienced some losses caused by BTC exposure, which will be compensated by the beloved 1M NSR prize offered by @JordanLee and the invaluable experience.
I will do it again in the future, pulling out just temporarily to focus more on development.
Here some fun data :
Executed orders : 1320 (sells : 615; buys : 705)
Total volume transacted : 7981 BTC ( =~ 1966605 $ )
Full list of trades : http://pastebin.com/p2NCKq10
I want to thank shareholders for the support
i can take excoin…
Tks for your job.
Can you share the information of how much you ended up with? (BTC and NBT)
And how did you generate the whole list of trades?
Tks.
Can you share the information of how much you ended up with? (BTC and NBT)
Sure, it was in liquidity info. I withdrawn 43.3 BTC .
We are building a toolkit for custodians based on nubot. Is not released yet but when it is, will produce things like that. Even better, it will provide the input for a larger custodians tool which will soon be available .
Tks. So you started with 64.61 BTC =~ 20300 NBT at BTC/NBT=313 roughly and you ended up with 43.3 BTC at BTC/NBT=220 roughly which amounts to a little bit lower than 10000 NBT.
Does it mean you lost more than 10000NBT on the whole period?
I guess it would be too much of a loss with no hedge.
Can you share how many NBT you ended up with on the sell side of BTC/NBT?
Tks.
Yep. When I interrupted my operation the funds were actively trading back and forth between buy and sell.
I see but can you share how many NBTs you ended up with on the sell side of BTC/NBT?
Sorry for insisting but I would like to know if I really need to hedge seriously when I support NBT/crypto in my next proposal.
Tks.