The $1000 standard actually isn’t explicitly stated like i thought (it is mentioned in ppc overflow but nit btc overflow). Seems like the ppc buy threshold is at FLOT discretion. I’ll be sure to add it to the comprehensive upper tier motion.
bitfinex mid price is 419.97 USD
Tier 4 buy side funds total 246.973775 BTC and $30000.000000, valued $133721.576459 (318.407449 BTC)
120875.774580 NBT plus NuSafe are excluded from the share buyback calculation (359.253696 BTC).
318.407449 - 359.253696 = -40.846246 BTC sits in the share buyback pool.
10 percent of this -4.0846 BTC will be used for share buyback next week.
That is equivalent to approximately $-1715.42.
source code will be posted later or put on github.
Why? Is there some reason nbt demand has lowered and will not increase again in the short term? Btc is going up. We just need to cover the demand recession while the price changes, then we get our dues again when the price crashes again. In the mean time, just set a few park rates so we dont get slaughtered on the nsr market.
There’s NBT from the Nu and BCE development funds continuously entering the market, going from “frozen” circulating NBT to “really” circulating NBT.
So I don’t think it’s primarily a demand recession, but rather a supply increase - unless BCE trading starts and people need NBT to trade fiat like there.
If you have a look at the protocol upgrade, which is a prerequisite for that, you might not bet on a very near support by BCE.
And I wouldn’t bet on BTC price, even though that’s an option with the coinbase reward halving coming closer. If the BTC price doesn’t rise sharply, it can get very ugly (after the mining data centre operators ran dry with supporting purchases to keep the system running).
If I were a speculator, I’d bet on a short term increase of BTC price - but what do I know?
Oh, I know that NSR sale can remove NBT permanently from market. This decision doesn’t depend on speculation of any kind
There’s some demand on the NSR market. Nu doesn’t necessarily get slaughtered there:
It’s time to start voting for the standard.
We need a comprehensive liquidity management framework.
Dealing with liquidity without it is becoming more demanding than we can handle.
Thank you so much for your efforts in creating motions to improve this by far!
I really want to deal with the Outstanding thing first. The standard is just wordplay, Nu health exists whether we define it strictly or not. Nu health is low right now. If we think this is indicative of something deeper, we should sell our stable reserves and prepare for a storm. If we think it is just a swing, we should implement park rates. Selling NSR is not our best option right now in my opinion, though it is for sure an option. As is devaluing NBT or spiking fees to dollars on the transaction.
The standard is more than just a wordplay!
Don’t hide your light under a bushel!
It’s the most comprehensive framework for assessing the network and to trigger actions!
You remember this?
That was an attempt from an economical not very educated person like me, but your draft is much more concisely!
I don’t see a storm coming, but if you can agree with my assumption that more and more NBT from development funds enter the market (together with the still much too expensive NBT grants for liquidity!) the increased supply needs to be handled.
If if can’t be handled by genuine demand, artificial demand by offering park rates is for sure an option.
Alas, I can’t foresee the future.
My approach would be selling NSR before the trust in Nu is undermined and they can only be sold at worse rates.
You know that this is my stance ever since I started dealing with liquidity (at least for the most time): sell NSR early.
As there’s good arguments for park rates and for NSR sale and for both choices you can’t foresee the consequences, it boild down to a kind of religious thing.
To really calculate it, you’d need pieces of information now that will only be available in the future.
If the reserves are getting lower, I’ll start a discussion regarding NSR sale from FLOT NSR reserve, because doing nothing (NSR holders not even voting for park rates) would be the worst option.
Sure, I totally agree the current model has a rather large gap. However, shareholders would be stupid to allow that to happen. Hear that? Stupid to avoid using the park rate and nsr sale mechanisms we currently have! If FLOT BTC reserve comes up dry we will lose all confidence at this point. Hell, i would lose confidence.
If we’re in trouble, we still have NuSafe. We have some time yet before the apocalypse for sure.