Supply, Reserves, and Equilibrium (superseded by automation)

[masterOfDisaster]

If the point of time were exactly known, it could be used to game the system.

[nikolaso]

It also could be much easier for people who are in contact with buyback manager to game the sistem, so they are ahead of everybody else.

[masterOfDisaster]

Do you doubt the integrity of our buyback manager?
If so, you should think one step further - the buyback manager himself is in the perfect position to game the system.
But know what? Most (should I say: (almost) all) community members trust @Nagalim, because of all he did and does and the way he did and does that.

If you mistrust him, I recommend supporting auctions that can trade BTC for NSR and vice versa, because the transactions there happen on blockchain.

A concept for that has once been created to auction NBT for NSR:

Unseeded Auction Thread

THIS SERVER IS NOW DEFUNCT, PLEASE DO NOT SEND ANY FUNDS I will be holding the first unseeded NSR/NBT auction this week. It will end on block 394100. Please keep volume small but relevant to the market price. However, the more participants the better it will be! The minimum reward volume is 0.01 NBT and 1 NSR, the respective network fees. Auction Participation Guide: Do not send funds from an exchange, send them to your wallet first! Wallet software: https://nubits.com/download To p…

[nikolaso]

I dont have problem with @Nagalim, i really appreciate everything what he is doing. I was just asking if there is time pattern for progressing days or it is just buyback managers will.

I must say it is really hard to be awake whole night waiting for buyback progress

[masterOfDisaster]

So put your orders up earlier

[Nagalim]

So put your orders up earlier

This is the correct answer. I use a die roll to determine when to move the wall. If i wanted to game the system i would mess with the buyback price more than the time i put it up at.

The order book needs orders. Put your orders up and let the market do its thing. I too have been up late nights watching markets like ppc/usd and the best advice ive ever found is just put your bets in and lay your weary head to rest, let the world keep turning.

I do try to do the move between 12a and 12p UTC. I use the full day’s trades (recent weighted more) to get a price so if you put a sell an appropriate amount below the general market price on tuesday or wednesday night you are likely to get it.

Now that we are operating on only one exchange, maybe it would be good to do every move at the same time each day. My issue with that is that my schedule doesnt really allow the buybacks to be a top priority for me. I’d love someone to propose a motion or a software…

[Passed] Interim Executor: @Nagalim

a bandaid to give us time to solve that problem.

[mhps]

I’d love someone to propose a motion or a software

Can the parametric nubot be configured to sell NSR with a huge spread of 90% - 70% of the volume weighted average price in the last 24hr?

[Nagalim]

As far as i know theres no nsr wrapper.

[masterOfDisaster]

The price feed is another issue.

[nikolaso]

@Nagalim what is happening with buyback progress? it was supposed to move to 90% market price 18hrs ago.

[Nagalim]

Shit! Sorry, my bad. I had a very long night and morning. Done now.

[masterOfDisaster]

Always good to have some variance in order to stay unpredictable

[Nagalim]

Id prefer to keep it reasonable. Still, i can’t wait till Nu fires me from this job, lol.

[masterOfDisaster]

Can I get fired as well, lol?

[Nagalim]

You will, we all will eventually. This is not Nu’s final form.

[masterOfDisaster]

As I don’t get paid for most of what I do, it won’t be very hard - financially speaking

[nikolaso]

@nagalim i am intrested in this job, what qualifications are required?

also, i would like to present an idea maybe a better way for NSR to go up without fear of buyback being gamed.

What would happen if funds for weekly buyback are not spend on buying nsr? what if we just put buy offer at 70% (or 90%) of market price and never move it, until it is eaten by sellers? this way we could evade weekly nsr price bounces, as weekly highs are always when buyback is going to match market price - wednesday night.
This way we could buy more nsr for less price, and price would be much stable. also marketcap would be little biger cause nsr burning would be slowed down a little.

Any thoughts on idea?

[Nagalim]

So what price? Are you shifting it every day to keep it at 70%? What happens when the wall starts getting very very large as we keep pouring funds into it? We’ve bought back about 500 btc of nsr so far. That would be a very large wall.

The qualifications are being trusted by shareholders. However, it’s a volunteer position so I cant help but question your motives. (No offense intended, just logic)

[nikolaso]

I was talking about supporting NSR instead of buying it.
Example
week 1 price 700 sat buyback btc 10. if we put 10btc on 90% thats 630sats, and we dont move, just keeping it there until sold off.
week 2 price 750 buyback btc 15. we put on 675sats while buyback of week pone is still at 630
week 3 price 680 buyback btc 10, we put on 612.

this way by supporting nsr with these 25btc from 612 to 675 nsr price becomes more stable and harder to break, so dumpers are harder to dump. this could be more effective to price then buying for whole amount every week and alowing dumpers to break smaller weekly support

[Nagalim]

So what if no one dumps onto us? Every day we hold those BTC is another day of liability.

Feel free to make a motion draft to catch more attention. Here’s an example of a motion that should be structurally similar to the one you’re looking to make:
[Voting] NSR Buyback Prices