Proposal: Small dual-side liquidity for currently uncovered pair

[assistant]

[quote=“crypto_coiner, post:37, topic:1268”]What is the nubit address for that proposal?[/quote]Only the individual knows the reason to love someone else. Be that for personality or looks.

[tomjoad]

Voted. Unless other users offer proposals for a lower fee, we should be voting for all LPC proposals.

[mhps]

Any an idea what we could do out of this? I see there are three non-BTC markets on excoin, PPC, BLK and LTC. I could imagine providing liquidity for one of those. There is also a PPC market on CCEDK, but there seems to be a bot serving it.

PPC / NBT would be good. The one on CCEDK is not working well. Maybe this will relief @KTm of some stress.

[cryptog]

Does the current version of NuBot accept several custodians on the same pair? If the answer is yes then NBT/BTC in any exchange should make it.

[creon]

Does the current version of NuBot accept several custodians on the same pair?

Its in development, but will probably not be available during this operation. I think this feature will boost recruiting LP’s greatly, because even smaller amounts than what I provide here will be able to participate in the operations.

PPC / NBT would be good. The one on CCEDK is not working well.

Yeah sounds good. Would be interesting to know why it is not “working well” though. There is also a PPC market on excoin which might attract some volume. But in general you would think that PPC will be the most likeliest coin? Because then I should start accumulating them, since the proposal already passed 6% and rises quickly (Thanks a lot for that shareholders!)

[mhps]

Would be interesting to know why it is not “working well” though.

I don’t know why. But the symptom is missing buy wall.

[mhps]

Getting NBT/BTC on cryptsy will also be good. Actually gets NBT on any exchange that bitcoinwisdom.com rebroadcast is good.

[creon]

Getting NBT/BTC on cryptsy will also be good.

How is cryptsys opinion about Nu? Would they install the closed source daemon and use it over RPC?

Besides that I don’t know if my 5,000 NBT would be sufficient to serve a high volume market like BTC on cryptsy. But if they agree on a NBT/BTC market with this amount of liquidity then why not.

[mhps]

How is cryptsys opinion about Nu? Would they install the closed source daemon and use it over RPC?

I think that is the major unknown here. There are 16 active exchanges re-broadcasted by bitcoinwisdom. If nubits get on any of them it is good.

Besides that I don’t know if my 5,000 NBT would be sufficient to serve a high volume market like BTC on cryptsy.

If you get 5,000 going and the demand is high, you might want to rebalance once a day per suggestion here. A very liquid market makes the wall off-balance quicker.

You might also consider to put the 5000NBT on tight spread and get more NBTs on board with a wider spread (i.e. extra tiers in the order book) so that you have better chances to make profit when these orders are filled (keep in mind they are not guaranteed to make profit because they are also exposed to BTC prices). These extra NBTs are not part of your LPC obligation.

[cryptog]

You might also consider to put the 5000NBT on tight spread and get more NBTs on board with a wider spread (i.e. extra tiers in the order book)

I was wondering about that. One might not be able to hedge his or her bitcoin downtrend exposure when support NBT/BTC but it could be counterbalanced by a wider spread. So I would suggest LPCs to make proposals involving a wider spread that the current 0.2%.

[willy]

How is cryptsys opinion about Nu?

I did not manage to get more than their standard “we will forward your suggestion to our dev-team” answer.

Cryptsy uses paid coin voting, in which we tried to participate here.

[creon]

These exchange coin votings are usually controlled by market manipulators and only serve as money printing machine for the exchange owners. A coin gets added if it makes money and it makes money if it has volume … NBT has volume so there should be sufficient interest without need to bribe them.

I’d suggest to wait for the outcome of the open source motion and then to contact them again, and to show them the NBT volume over the last weeks and possibly announce the upcoming source release. There has to be some reason why an exchange like cryptsy is not excited to add NBT.

[creon]

Shameless bump. I know its not much that I offer, but I think we could use it right now and I can be operational within three working days.

[cryptog]

know its not much that I offer

I think at this stage any liquidity offered is welcome.
What exchange would you use btw?

[Cybnate]

Won’t be long before your grant passes looking at the blockexplorer. Give it another 2-3 days.
I’m voting for it and it is in my datafeed

[creon]

That still has to be determined. Originally I had excoin in my mind, but things changed a lot the past weeks. I’d almost suggest to use the 5,000 NBT for a NBT/BTC pairing because besides fiat pairings those are the most important ones right now.

[creon]

This proposal is approaching the required amount of votes and I assume it to be passed until the end of the week. So, let’s try to finalize things so I can start the operation as soon as possible.

In my personal opinion a BTC pairing would be more appropriate in our current situation, but I am open for a discussion if an alt coin would be better. The uncovered BTC pairings I found are NBT/BTC on CCEDK and NBT/BTC on ALTS.Trade. What are your thoughts?

The only remaining problem then is that, as mentioned in the OP, the bot and the Nu daemon will run on a Raspberry Pi. Unfortunately there is no v0.5.4 Nu daemon for ARM yet, and we are encouraged not to run older client versions. Therefore I will wait for @CoinGame to publish a binary except if the developers say that it is ok to operate with the old client.

[CoinGame]

Working on it. Expect it today.

[woolly_sammoth]

The Alts.Trade wrapper for Nubot is a work in progress so that limits your choices of pairs. I will be working on it over the coming days. once it’s done we could add it into the current Nubot as a hotfix.

[creon]

OK, then not Alts.Trade. I just saw “Bitcoin Indonesia” on coinmarketcap. Do we have NuBot support for them?

EDIT: Just to make this clear, this is nothing against CCEDK and of course I would operate there. I am only trying to get all the options together.