This is great, thank you very much shareholders! To be honest it passed a little faster than expected, because it didn’t increase much over the last weeks. The grant passed on block 241230.
I checked Bitcoin.co.id and they look like a very nice opportunity to bring NBT to this area. It struggles me a little bit that an intensive amount of personal information is required to register on that exchange, including passport ID etc. Data I generally don’t like being stored in databases that are connected to the internet. @bitcoincoid, is there a way around this since I am not dealing with any fiat market?
Otherwise I can also start my operation on CCEDK and I assume that it will be very easy to set up. My plan is to operate the bot for 24-48 hours with very small amounts and many interruptions before I start my actual operation. This is to ensure that my scripting framework works as intended and that I can test some scenarios where the bot will not behave as expected ( @woolly_sammoth, for example, I was not able to receive an e-mail from the bot so far and am also not even sure how it is sent internally).
So, to make a realistic proposal that allows for some initial troubleshooting I say that I will start the real operation on Monday, 0:01 am UTC. If everything is perfect on Friday, then I will start earlier.
This is the last chance for you to propose an exchange and a pairing. Without further input I will await an answer from @bitcoincoid until tomorrow, and then post if it is CCEDK or Bitcoin.co.id. I will update the OP once the details are set.
Given the current non-communication coming from CCEDK regarding some withdrawals, it may be wise to make contingency plans for other exchanges. Bitcoin.co.id would be a great opportunity I agree, as would upcoming exchanges like Bittrex.
Well I would prefer to have a bigger fish than me on Bittrex because I think they could become the new major volume exchange. I messaged @bitcoincoid about some details and agree that it would be a good candidate for the amount of liquidity I will provide.
Just wanted to report back that I am currently starting my tests on Bitcoin.co.id and hope to be ready to start the operation on Sunday. Since no objections were made by the shareholders, I will provide liquidity for 30 days for the NBT/BTC market on Bitcoin.co.id.
The (slightly modified) NuBot now successfully runs for 12 hours on bitcoin.co.id and submits liquidity (its only 0.1 BTC that is there). Everything is looking great and I see no reason to delay my proposed start at 0.01 am UTC tomorrow.
Would be nice if someone could move this thread to the “Custodial Grant Passed” subforum.
No, was it? Just checked the exchange and the order is there. I also received the last email from the bot 10 minutes ago so everything appears to be fine.
The trading activity is comparably low so far. Thanks to the price increase of BTC I could transform some of the funds into NBT without violating the proposal to provide 5,000 NBT initially as buy side liquidity. I hope that this + the reintroduction of the NBT markets mentioned by @bitcoincoid will help to attract more traders.
We just broadcast nubits reintroduction few hours ago. We mention about nubits finally have custodian in our market. I will try to keep monitor how it looks like in the next few hour.
I think what we need are some NuBits over there. Each time I am transferring some NBT to your exchange they are sold out soon after that. There were even NBT buy orders above 1 USD value temporarily.
The thing is that I promised to start with a buy side liquidity, so am not able to simply transform half of the funds into NBT without breaking this promise. So I’d like to encourage everyone who is interested to send some NBT there - you’ll probably be able to sell them at a very good price with 0% trading fee.
EDIT: Besides that it is nice to see that the volume increased x10 over the last days, with 363 NBT over the last 24 hours.
Very interesting. At this exchange there is more demand than offering…Does it imply that the Indonesian trader sees a lot of potential in NuBits as a currency?
Maybe it is not only traders and hedgers, maybe they start using it as a currency as it was designed for.
I hope they can find the NuBits Android wallet as I understand that there are high numbers of mobile phones amongst the Indonesian people.
Well its hard to make a statement about “Indonesian traders” after one week with less than 1 BTC daily trading volume
To me it looks like not many of the users on bitcoin.co.id have accounts on other cryptocurrency exchanges and therefore only few take the opportunity provided by the arbitrage. I think once there are more NBT on the exchange for the traders “to work with”, then we will also see more hedging.
Right now the pegged price for 1 NBT is 0.003576 BTC and you can buy NBT at this price on poloniex. And also right now, you can sell ~500 NBT on Bitcoin.co.id for 0.003628 BTC each, because people are willing to pay much more than 1 USD to get NuBits. Why is nobody taking this opportunity?
I will rebalance the liquidity a little bit. I think this is in the interest of the shareholders.
