To trigger a buyback then a dilution, the parked nbt would need to change by 700k to force the standard to go from +2.5k to -2.5k (5k/0.05/0.15=666k). Also, the park rates go down as the standard approaches +2.5k (at least in theory), so this attacker is parking for smaller and smaller rewards. Their best attack would be to wait for Nu to suffer, then park a bunch all at once at a high rate. However, this is precisely what we want them to do! To wait and park when we’re in trouble, they have to buy a bunch of nubits while our economy is going into a recession, thereby helping us out. Well that’s not really an attacker at all!
This is basically the buy slow sell fast (bssf) attack from my perspective. There are more efficient ways of manipulating Nu, namely to target the ALPs.
This calculation is done without any change from [Passed] Standard and Core which passed in the last week. The numbers presented in this calculation will be used to discuss standard-and-core implementation.
Nushares buyback calculation as of Sat May 14 00:32:12 UTC 2016
Total NBT = 1317838.267
Two things: firstly, the outstanding nubits motion passed and will keep us under nsr dilutions this week.
The standard is -$2560.31+(0.15×.05×30k)=-$2335.31
No dilutions will occur this week.
Secondly, you did the ppc stuff wrong. Ill explain when i have some spare time.
Crap, I messed up the motion. It’s supposed to be PPCTH/F not PPCTH*F. The idea is that you take the standard and multiply it by the flow. Then you compare that to the threshold and if it’s bigger you take that modified amount to market. As is it doesn’t really make sense.
We should be bringing $1556.87 worth of ppc to market if we had any. This is over the $1k threshold.
Well, if you want to do it by RPC, you have to test a lot of rolling windows.
Or you parse the blockchain systematically for it (and note the block at which the motion passed; that can be verified by RPC easily) - I don’t have the skill to do that.
What I’m trying to say is: it’s not just you…
By block 862642 both motions were passed in voting and SDD. This was on Friday May 6th over a week ago. Therefore, I will press forward my standard (-$2335.31) as the official correct one for this week. http://blockexplorer.nu/motions/success
Here, this is where you’re going wrong. I probably phrased the math wrong in the motion (which is probably why I made a mistake), but the words are on point. Take the standard, multiply it by the flow, and compare it to the threshold.
For last week:
PPCST = F*ST = -$1,556.87
Since PPCST < -$1,000 sell an amount of PPC worth the magnitude of PPCST ($1,556.87) using some acknowledged price feed.
For this week:
There are issues here.
You shouldn’t add the $30k from the stable reserve here, or the PPC value either, just the BTC reserves. This will drastically reduce the standard.
131.743468 BTC stand in the core reserves.
Valued at 441.495 USD, this is equivalent to 58,164.08 US-NBT.
As 107095.93 US-NBT are targeted, we stand at a 48931.85 US-NBT deficit. This is equivalent to ~2446.59 US-NBT below standard.
ST = -$2446.59
F x ST = -$1631.06
Sell $1631.06 PPC
Please fix any mistake and ambiguity in the standard and core motion. I don;t feel comfortable following fixes in follow-up of follow-up posts. I suggest using strike through instead of deleting when editing. No need to revote. I often have a hard time parsing what you say so please make sure the math shown is correct, or interpreting and maintaining of the calculator would be difficult. Nothing personal here. For example didn’t you say
then why the quoted expression at the top of the post wrong?
The motion says 2 contradicting things. What you’re following is the equations. What I’m following is the written word (which literally says ‘times’ instead of ‘divided by’). Anyway, here’s a revised version. As you can see, the only things that change are the equations, which were meant just as an addendum to help clarify anyway.