The price feed is another issue.
@Nagalim what is happening with buyback progress? it was supposed to move to 90% market price 18hrs ago.
Shit! Sorry, my bad. I had a very long night and morning. Done now.
Always good to have some variance in order to stay unpredictable
Id prefer to keep it reasonable. Still, i can’t wait till Nu fires me from this job, lol.
Can I get fired as well, lol?
You will, we all will eventually. This is not Nu’s final form.
As I don’t get paid for most of what I do, it won’t be very hard - financially speaking
@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?
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)
I was talking about supporting NSR instead of buying it.
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
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
Why would you want to push the price instead of buying as many NSR as you can for the money?
In a time with no buybacks or no intention to buy NSR that might be a viable strategy to increase the market value of the Nu network.
As long as buybacks are ongoing, the cheaper the NSR, the better!
I start to feel dividends is actually a more elegant way to boost NSR valuation than buy back executed currently, where trades happen within like an hour every week at a price determined in the previous … half a day.
Dividends would make nsr leave exchanges to deposit in wallets, so there would be less volume. also dividends in peercoin would boost peercoin price up, so
i thought purpose of buyback is to move price higher, not to burn nsr. why is burning so important?
Because printing will be used to save the peg as a last resort.
When Nu sells NBT, it stores the value in NSR (distributed assset);
When Nu buys NBT, after the reserve runs out and parking isn’t enough, it extracts value from NSR to pay for the buying.
Taking NSR out of circulation is just a step of buyback. Burning is locking up and throwing away the key.
I currently hold 84.8 BTC on behalf of shareholders.
Can you confirm that the Nubits from the transactionare in B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj ?
According to NuLagoon Tube, it was sent to this address and is still there:
It’s OK then.
v 0.5.1 update Jordan Lee’s T4 BTC holdings
As of Sat Mar 12 01:42:02 UTC 2016
"blocks" : 783917,
Total NBT = 1278560.2779
Balance of BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC is 0 NBT
Balance of BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi is 151500 NBT
Balance of B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj is 150000 NBT
JordanLee singlesig from liquidity ops
Balance of BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP is 36553.054 NBT
FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 150964.3416 NBT
Total NBT in circulation is 789542.882300 NBT.
Required 15% reserve is 118431.432345 NBT
Tier 4 Funds
Tier 4 buy side funds controlled by FLOT
FLOT 5-of-8 multisig old
Balance of 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG is 0 BTC
FLOT 5-of-8 multisig new
Balance of 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe is 157.18102541 BTC
Tier 4 buy side funds controlled by JordanLee 84.8 BTC
NuSafe has $30000 for T4
bitfinex mid price is 421.405 USD
Tier 4 buy side funds total 241.981025 BTC and $30000.000000, valued $131972.014013 (313.171448 BTC)
118431.432345 NBT excluded from the share buyback calculation equals 281.039457 BTC.
313.171448 - 281.039457 = 32.131991 BTC sits in the share buyback pool.
10 percent of this 3.213199 BTC will be used for share buyback next week.
That is equivalent to approximately $1354.058167.