Id really rather we operate based off the 4726.93 number. NuSafe deployment will be used for next calculation, we don’t know how long those funds will last either.
Do we then sell NSR until the number is reached?
Just one nsr amount, determined before taking them to market. Of course FLOT can do what they feel they must, but it is important that we stick to the plan for now.
Let s move fast. Btc might rise even further.
We could just sell them for nbt via blind auction and we wouldnt have to worry about the btc price or rushing the market.
Doing this in a hurry is not likely to get a better price than keeping a level head.
1 Like
v0.9.4 NuSafe emptied. Cosmetic words.
v0.9.3 update BTC held by JL Current Liquidity
Nushares buyback calculation as of Sat Jun 4 00:06:15 UTC 2016
blocks":904272
Total NBT = 1323197.0875
Uncirculating Nubits
- 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 64526.134 NBT - FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 246972.9576 NBT - Total parked Nubits is 154319.0129. They are not used in circulating nubits calculation for buyback purposes.
Total NBT in circulation is 710197.995900 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 19.74236791 BTC - Tier 4 buy side funds controlled by JordanLee 0 BTC
- NuSafe has $0 for T4, and is not included for buyback pool calculation.
- FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0 PPC
bitfinex BTC mid price is 571.07499999999995 USD
btc-e PPC average price is 0.00067 BTC
Tier 4 buy side funds 19.742368 BTC, 0.000000 PPC, and $0.000000, valued $11274.372754 (19.742368 BTC)
Of the 710197.995900 NBT in circulation, 710197.995900 - 0.000000(NuSafe) = 710197.995900 NBT are outstanding.
15.00 percent of outstanding Nubits, 106529.699385 NBT (186.542397 BTC), are reserved and excluded from the share buyback calculation.
19.742368 - 186.542397 = -166.800029 BTC (11274.372754 - 106529.699385 = -95255.326631 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -8.3400 BTC (~ -4762.77 NBT)
Standard < -2500: Sell 4762.77 NBT (8.3400 BTC) amount of NSR next week.
Auxiliary reserve flow is 0.666667
PPC Standard is -3550.989980 NBT
Standard x F (-3175.177554) < -1000: Sell -3175.18 NBT (5.5600 BTC) amount of PPC next week.
2 Likes
This was the week when btc started to rally almost continuously
The buyback pool was -40 BTC then, meaning that the pool was short on fund. During the rally in mid-April and late May Nu T4 reserve lost rate was about 90BTC/week to defend the peg. Had there been no buybacks, Nu would have 555.6 BTC more in its reserve. These reserve could last 6 weeks of unstopped btc rallying, starting May 21.
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Selling NSR in a time, when NBT doesn’t look all great is hard enough.
Selling NSR in a time, when NBT doesn’t look all great, because of a BTC bull run is even worse; people just don’t want to trade their BTC for NSR - for two reasons…
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The only real NSR demand we’ve seen for as long as I’ve been a shareholder seem to have been the buybacks, which seem to have been used by desperate shareholders as a way out of Nu.
how many BTC will be used if we want to buy back all NBT at market?
Really astonished that shareholders agreed to spend so many BTC to buyback. They are really deserved to today’s situation.
2 Likes
cutting the nose to spite the face. The shareholders acted in self interest only to destruct them later. What a lesson
It could have worked and still can.
But let me get slaugthered for going a reasonable course (increasing the buyside offset) let dump somebody some more NBT and ruin the peg completely and say that was all based on what I did, although it’s quite obvious that the reason was the NSR buyback.
Don’t you see it? This way the blame can be put on the one who spent a lot of efforts since September 2014 to make Nu succeed, but has become inconvenient, because he opposes the architect, if need be.
Maybe it was too much for Jordan to see his motion to tighten the spread be opposed by mine?
In difference to Jordan, I present data and don’t start a witch hunt.
Maybe I should draft a motion to fire incompetent architects just for the lolz.
Alas, that’s not my style…
If Nu weren’t that important to me, I could just let go.
But what Jordan plans is wrong and doesn’t work, and if then only by “accident” by a dropping BTC that might save Nu, although the buyside offset has been lowered.
I just can’t keep silent and don’t tell you what the likely results will be.
If you understand it, act accordingly.
If you have a different position, explain it - but please with facts and not accusations and propaganda.
1 Like
Nushares buyback calculation as of Sat Jun 11 03:23:16 UTC 2016
blocks":913661
Total NBT = 1323825.9751
Uncirculating Nubits
- 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 64526.134 NBT - FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 272302.0276 NBT - Total parked Nubits is 162403.8419. They are not used in circulating nubits calculation for buyback purposes.
Total NBT in circulation is 685497.813500 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 25.74036791 BTC - Tier 4 buy side funds controlled by JordanLee 0 BTC
- NuSafe has $0 for T4, and is not included for buyback pool calculation.
- FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0 PPC
bitfinex BTC mid price is 586.415 USD
btc-e PPC average price is 0.000645 BTC
Tier 4 buy side funds 25.740368 BTC, 0.000000 PPC, and $0.000000, valued $15094.537848 (25.740368 BTC)
Of the 685497.813500 NBT in circulation, 685497.813500 - 0.000000(NuSafe) = 685497.813500 NBT are outstanding.
15.00 percent of outstanding Nubits, 102824.672025 NBT (175.344546 BTC), are reserved and excluded from the share buyback calculation.
25.740368 - 175.344546 = -149.604178 BTC (15094.537848 - 102824.672025 = -87730.134177 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -7.4802 BTC (~ -4386.51 NBT)
Standard < -2500: Sell 4386.51 NBT (7.4802 BTC) amount of NSR next week.
Auxiliary reserve flow is 0.666667
PPC Standard is -3427.489068 NBT
Standard x F (-2924.337806) < -1000: Sell -2924.34 NBT (4.9868 BTC) amount of PPC next week.
2 Likes
Based on discussions here I suggest add “tangible net asset of Nu” in buyback calculation, defined as
(T3 and T4 reserve - outstanding NBT)
I changed ‘dynamic reserve’ to ‘T3 and T4 reserve’ above from what I suggested in past discussions, because the former is for calculating flow of BTC reserve in T4 only. Currently T3 is empty and there is no non-dynatmic reserve, so these two equal, however. @nagalim
Sure, whatever. I had issues with NuLagoonTube but it’s not T3 anymore, it’s T1, so whatever. I’d be down with extending to T3. Remember that T3 comes with it exchange default risk in addition to single sig risks. T4 only has FLOT risks. Also, T3 can be manipulated by anyone that holds a custodial address (albeit transparently).
I didn’t think about T3 when I added it above. I only thought its fund won’t hit the buy wall if Nu doesn’t want it to.
Nushares buyback calculation as of Sat Jun 18 00:50:34 UTC 2016
blocks":923345
Total NBT = 1323920.1665
Uncirculating Nubits
- 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 64526.134 NBT - FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 293357.4886 NBT - Total parked Nubits is 154680.149. They are not used in circulating nubits calculation for buyback purposes.
Total NBT in circulation is 664536.543900 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 25.74296065 BTC - Tier 4 buy side funds controlled by JordanLee 0 BTC
- NuSafe has $0 for T4, and is not included for buyback pool calculation.
- FLOT 3-of-5 multisig Peercoin
Balance of pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV is 0 PPC
bitfinex BTC mid price is 740.875 USD
btc-e PPC average price is 0.000535 BTC
Tier 4 buy side funds 25.742961 BTC, 0.000000 PPC, and $0.000000, valued $19072.315972 (25.742961 BTC)
Of the 664536.543900 NBT in circulation, 664536.543900 - 0.000000(NuSafe) = 664536.543900 NBT are outstanding.
15.00 percent of outstanding Nubits, 99680.481585 NBT (134.544264 BTC), are reserved and excluded from the share buyback calculation.
25.742961 - 134.544264 = -108.801303 BTC (19072.315972 - 99680.481585 = -80608.165613 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -5.4401 BTC (~ -4030.41 NBT)
Standard < -2500: Sell 4030.41 NBT (5.4401 BTC) amount of NSR next week.
Auxiliary reserve flow is 0.666667
PPC Standard is -3322.682720 NBT
Standard x F (-2686.938854) < -1000: Sell -2686.94 NBT (3.6267 BTC) amount of PPC next week.
1 Like