With the OP still being no wiki post, this might be used as template:
NSR Buyback #17 - Week of January 18, 2016
To calculate the NuBits in circulation, I will start with all 3,215,399 blockchain NuBits - which is the amount at the time of writing.
I don’t how to determine the moneysupply at block 703,043
Excluding tier 4 funds, because these aren’t circulating:
3,215,399 (Total NBT)
-2,000,000 (FSRT multisig)
-103,104 (FSRT singlesig)
-150,000 (JordanLee singlesig)
-140,827 (FLOT multisig)
Using this method I arrive at 821,468 NBT in circulation.
15% of that sets the reserved tier 4 buy side funds at $123,220.
The BTC/USD exchange rate as of the end of Friday UTC was $427.66.
Tier 4 buy side funds controlled by FLOT consisted of 119.3 BTC
Tier 4 buy side funds controlled by JordanLee consisted of 417.7 BTC
Tier 4 buy side funds total 537 BTC (valued $229,653).
$123,220 excluded from the share buyback calculation equals 288 BTC.
537 - 288 = 249 BTC sits in the share buyback pool.
10% of this (24 BTC) will be used for share buyback next week.
That is equivalent to approximately $10,643.
It is my understanding that FLOT will provide @Nagalim with the 24 BTC.
@Nagalim’s exchange addresses related to the NSR buyback:
As both addresses haven’t been used so far, I sent small amounts to them for testing purposes before the FLOT executes a transaction of 24 BTC in total.
@Nagalim, please verify that the transactions to
have been credited to your accounts before the FLOT deposits the 24 BTC there.
@Nagalim suggested a split of funds: 50/50.
The transaction to transfer funds from FLOT to @Nagalim has been created and signed by me.
FLOT members, please wait for @Nagalim’s confirmation and check the transaction thoroughly before signing it!
edit: you might wonder about the amount of BTC for buyback, because it’s significantly lower than the recent buybacks.
This is mainly due to two factors:
- the BTC price declined and the reserves are worth less in USD
- the FLOT deposited NBT to the Poloniex gateways but didn’t receive all proceeds back, so far[/code]