Statement on Status of NuBits and Liquidity 2018–03

[donthavename]

you will witness the .50 level soon

[jooize]

All cryptoassets were stored in publicly known addresses and fund transfers can be verified as going to exchange addresses or be listed in payments.

NuShare sale reports are posted in:

Backbone Reserve Operations (Tier 6)

2018–03–20 Amount of NuShares SOLD: 32,603,809.5658 BTC proceeds: 1.64521579 Sent to Bittrex. 0.03179984 318635.7494 0.42052643 8427383.3164 1.19288952 23857790.5

Nu is a decentralized autonomous organization.

[donthavename]

I just lost 2k on a stable crypto currency! I hope everyone dumps and gives up on this project as I have! Hello TUSD

[expert]

As soon as it becomes a bit normal, I am also planning to jump into Tether again. This is fucking depressive to deal with, shit coin

[jooize]

Order books for NuShares tend to keep refilling over time when NuShare sales are happening. That’s happening this time too. It’s not expected to have the full backing amount within a day, but history indicates there is support and confidence in the liquidity model. It is just slow as current NuShare exchanges do not have much volume and traders.

[Ghaleon]

I run a NBT market making bot with more btc than the amount that was just sent to bittrex listed here Backbone Reserve Operations (Tier 6). I’m uncomfortable personally holding this currency afloat right now. Guys please fix asap.

[gesite]

How much do you refill the order book per day?

[jamaikoulas]

history. Do you know why we need a stable crypto ? only so we can bet for and against bitcoin at times. If it stabilizes at 1$ when btc is at 12.000$ and i bought at 8500$ then i dont need your crypto at all. I want it to stay at 1$ so i can buy the 500$ dip from bitcoin that happened 30 min ago. I dont need it in 2 days to be stable i needed it 30 min ago.

[donthavename]

your a fuckin idiot just own tether then

[donthavename]

you are going to be fucked bro, better get out for whatever u can, i just dumped 20k nbt on u, thanks for takin my bag

[gesite]

and NuShares up to 160 satoshi

did you make buyback at 160 satoshi?

[jamaikoulas]

if you think i m gonna sell now at 2000 satoshi loss per nu you r mistaken. I will let them rot.

[expert]

What happens if NuShares goes down?

[Ghaleon]

It’s my understanding the NuShares reserves exist today to bring this back to $1. It’s just a question of how fast they can get the funds to Bittrex. I’ve disabled my market making bot (that was previously making 2.5%/day stabilizing nbt) for now, last nbt purchase was at equivalent $.91. I’m going to re-enable when I see enough liquidity back in the books to bring this back into reasonable range. I know you guys can do this!

[donthavename]

when you and every other person that was doing what you were doing just stopped, why do you think the price will recover any time soon?

[Ghaleon]

Recovering the price is very straight forward. The Nu team just needs to transfer funds to bittrex and buy nbt with it then the price will go back to normal. The real question is why is that taking so long. It’s an amazing deal right now to buy nbt at sub $.90 prices.

[ChrisConners]

Lots of FUD in here. Market will self stabilize, I’m tempted to buy in more right now

[expert]

That’s what keeping my hopes alive but have you read what they said? Their reserve is empty right now and they are betting on the NuShares price now. That’s why I asked what if NuShares goes down?

I’ve seen one currency that lost its peg (SBD) but it was positive and delivered a lot. It broken the peg of US $1 and reached $15 which was quite profitable for us. But this shit which is happening with NBT right now is quite depressive. i want to withdraw my funds for personal needs but I am stuck because of the price. I bought at 0.98 to 0.99.

[jamaikoulas]

just bought more. Fuck this its a bargain. 1000+ satoshi below

[expert]

Multiple accounts by officials to keep the hopes alive? Either way, I am waiting.