NSR Buyback #18 - Week of January 25, 2016
To calculate the NuBits in circulation, I will start with all 3,218,298 blockchain NuBits - which is the amount at the time of writing.
Excluding tier 4 funds, because these aren’t circulating:
3,218,298 (Total NBT)
-2,000,000 (FSRT multisig)
-103,104 (FSRT singlesig)
-150,000 (JordanLee singlesig)
-162,628 (FLOT multisig)
Using this method I arrive at 802,566 NBT in circulation.
15% of that sets the reserved tier 4 buy side funds at $120,385.
The BTC/USD exchange rate as of the end of Friday UTC was $387.40.
Funds at end of Friday UTC
- Tier 4 buy side funds controlled by FLOT consisted of 232.8 BTC
- Tier 4 buy side funds temporarily used for peg support at Poloniex consisted of 49.7 BTC
- Tier 4 buy side funds temporarily handed over to T3 custodian @Naglim consisted of 5.5 BTC
- Tier 4 buy side funds controlled by JordanLee consisted of 213.7 (417.7 - 40 - 40 - 124) BTC
- Tier 4 buy side funds total 501.7 BTC (valued $194,359).
$120,385 excluded from the share buyback calculation equals 310.75 BTC.
501.7 - 310.75 = 190.95 BTC sits in the share buyback pool.
10% of this (19 BTC) will be used for share buyback next week.
That is equivalent to approximately $7,397.
It is my understanding that FLOT will provide @Nagalim with the 19 BTC.
@Nagalim’s exchange addresses related to the NSR buyback:
This is no rocket science, but takes time.
I’d appreciate it, if an NSR holder did the next calculation - and I’m not speaking necessarily of somebody who is already having a role or roles.
If nobody steps up to do it, I will include an operation fee in the next calculation I do.
I won’t sign other transactions related to the buyback that don’t include that fee. If the transaction I create gets replaced, signed and broadcast without that fee, I won’t do any more calculations.
I have come to the conclusion that NSR holders need incentives to start contributing. I’m just trying to motivate the so far passive shareholders
…and please: don’t step up and from the beginning start doing calculations that include a fee for you - you owe many in this forum.
There’s a lot of work which needs to be distributed between more contributers.