Supply, Reserves, and Equilibrium (superseded by automation)

I am sync’ing the client to do the calculation. Can you quote relevant part in passed motions for changes to be made in the calculation?

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.

As for NuSafe:

1 Like

buyback calculation
change log
v0.6 NuSafe not counted in for buyback calculation [Passed] Bitcoin Reserve

output

Nushares buyback calculation as of Sat Apr 2 04:18:39 UTC 2016
"blocks" : 812866,
Total NBT = 1290855.8328

FSRT multisig
Balance of BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC is 0 NBT
FSRT singlesig
Balance of BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi is 151500 NBT
JordanLee singlesig
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 146964.2816 NBT

Total NBT in circulation is 805838.497200 NBT.
Required 15% reserve is 120875.774580 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 187.17377541 BTC
Tier 4 buy side funds controlled by JordanLee 59.8 BTC
NuSafe has $30000 for T4, but not included for buyback calculation.

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.

3 Likes

5%. The standard should be $-857.71.

1 Like

Nushares buyback calculation v0.7
mhps 2016
change log
v0.7 implementPPC reserve and BTC reserve percentage [Passed] Peercoin FLOT Reserve and [Passed] Bitcoin Reserve

Output
Nushares buyback calculation as of Sun Apr 3 06:04:21 UTC 2016
"blocks" : 813542,
Total NBT = 1290855.2911

FSRT multisig
Balance of BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC is 0 NBT
FSRT singlesig
Balance of BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi is 151500 NBT
JordanLee singlesig
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 134764.2616 NBT

Total NBT in circulation is 818037.975500 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 187.17377541 BTC
Tier 4 buy side funds controlled by JordanLee 59.8 BTC
NuSafe has $30000 for T4, but not included for buyback calculation.
FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0 PPC

bitfinex BTC mid price is 419.235 USD
btc-e PPC average price is 0.0011 BTC

Tier 4 buy side funds total 246.973775 BTC, 0.000000 PPC, and $30000.000000, valued $133540.050734 (318.532686 BTC)

Of the 818037.975500 NBT in circulation, 15.00 percent (122705.696325 NBT) plus NuSafe are reserved and excluded from the share buyback calculation (364.248444 BTC).

318.532686 - 364.248444 = -45.715757 BTC in the share buyback pool.
The standard is 5.00 percent of this, -2.2858 BTC (equivalent to approximately -958.28 USD)

Pool is not positive. There will be no NSR buyback or PPC reserve filling next week.

4 Likes

output

Nushares buyback calculation as of Sat Apr 9 01:16:10 UTC 2016
"blocks" : 823245,
Total NBT = 1290850.6709

FSRT multisig
Balance of BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC is 0 NBT
FSRT singlesig
Balance of BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi is 151500 NBT
JordanLee singlesig
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 132764.2436 NBT

Total NBT in circulation is 820033.373300 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 187.17377541 BTC
Tier 4 buy side funds controlled by JordanLee 59.8 BTC
NuSafe has $30000 for T4, but not included for buyback calculation.
FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0.89 PPC

bitfinex BTC mid price is 415.105 USD
btc-e PPC average price is 0.001035 BTC

Tier 4 buy side funds total 246.973775 BTC, 0.890000 PPC, and $30000.000000, valued $132520.431416 (319.245568 BTC)

Of the 820033.373300 NBT in circulation, 15.00 percent (123005.005995 NBT) plus NuSafe are reserved and excluded from the share buyback calculation (368.593503 BTC).

319.245568 - 368.593503 = -49.347935 BTC in the share buyback pool.
The Standard is 5.00 percent of this, -2.4674 BTC (~ -1024.23 USD)

Pool is not positive. There will be no NSR buyback or PPC reserve filling next week.

3 Likes

I will be trveling from Friday noon to Saturday noon-ish. current calculation gives

260.730841 - 350.696858 = -89.966018 BTC in the share buyback pool.
The Standard is 5.00 percent of this, -4.4983 BTC (~ -1920.80 USD)

We should seriously think about replenishing the dynamic reserve, which is 25% empty.

formal calculation will be done on Sat as early as possible.

2 Likes

It would be good to have a formal approval for that by seeing this motion [Voting] T4 buy side / BTC - maintaining and refilling value pass 50% or even better this motion: [Passed] Standard and Core

If the situation gets dire, the FLOT NSR team can inititate the sale of NSR to replenish the dynamic reserves.

Why are shareholders not voting for park rates?

Maybe they prefer a permanent removal of NBT (by NSR sale) to a temporary removal of NBT (by offering park rates)?

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.

1 Like

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 :wink:

There’s some demand on the NSR market. Nu doesn’t necessarily get slaughtered there:

If we think this recession is long term we should end NuSafe. That would increase the standard by $1,500.

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.

For the record, if park rates kick in for 30 days we are forced to do an nsr sale by motion. I would guess that flot signers would respond to the letter of the nsr sale motion with consensus.

Right, but what if NSR holders don’t vote for park rates and the reserves go down further?

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.

And next to the remaining BTC reserves we have NuSafe, right, and we have the FLOT NSR team holding 25,000,000 NSR.
There’s a lot of buffer left, before the first NSR need to be granted by NSR holders.