Supply, Reserves, and Equilibrium (superseded by automation)

Liquidity
#222

the latest calculation showed out standing nbt at ~710k , about 1200 btc at current rate.

#223

Really astonished that shareholders agreed to spend so many BTC to buyback. They are really deserved to today’s situation.

2 Likes
#224

cutting the nose to spite the face. The shareholders acted in self interest only to destruct them later. What a lesson

#225

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
#226

Nushares buyback calculation as of Sat Jun 11 03:23:16 UTC 2016
blocks":913661
Total NBT = 1323825.9751

Uncirculating Nubits

Total NBT in circulation is 685497.813500 NBT.

Tier 4 Funds

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
[Poll] 100% Reserve Required for NuBits?
Nu needs to burn some NBT
True or False?: NuBits are backed by NuShares
Accounting
[Discussion] Alternative plan for Nu to wither this storm
BTC prices at different exchanges or in different USD tokens
#227

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

#228

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).

#229

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.

#230

Nushares buyback calculation as of Sat Jun 18 00:50:34 UTC 2016
blocks":923345
Total NBT = 1323920.1665

Uncirculating Nubits

Total NBT in circulation is 664536.543900 NBT.

Tier 4 Funds

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
FLOT NSR Operations (buy side)
Nu can thrive. Here's how!
#231

I believe there are abour 20k nbt in gateways which flot coulds recall. so the outstanding nbt should be about 640k.
@masterOfDisaster has i guess $9211 worth of btc including first nsr sales before he is gone. these fund is in his gateway buy side address placed at ~$0.1 by hand. the gateway is offline. So Nu actually has $28k in reserve.

1 Like
Nu can thrive. Here's how!
#232

11k in my Pybot gateway awaiting instructions from FLOT or an elected Chief.

There is also 16k - 4k (payment release 1) - 12k NBT in my control as part of the NuDroid contract. When shareholders wish to burn that and end the contract they can choose to do so. See my proposal here, but anyone can raise a motion.

1 Like
#233

is this BTdQH5QNHU1EHsbAxfbZfQpk9YRR8EDJfu address your gateway’s? my client reports that it has 3317usd on the buy side. are they in btc?

#234

No, it isn’t mine. The address refer to Nmei’s grant (NuRiver): [Passed] Increased HitBTC Liquidity
Not sure why they are reporting liquidity though. They shouldn’t.

#235

@nmei , any comment re above?

#236

Nushares buyback calculation as of Fri Jun 24 23:38:21 UTC 2016
blocks":933544
Total NBT = 1321484.2713

Uncirculating Nubits

Total NBT in circulation is 662100.648700 NBT.

Tier 4 Funds

bitfinex BTC mid price is 660.685 USD
btc-e PPC average price is 0.00061 BTC

Tier 4 buy side funds 25.742961 BTC, 0.000000 PPC, and $0.000000, valued $17007.987957 (25.742961 BTC)

Of the 662100.648700 NBT in circulation, 662100.648700 - 0.000000(NuSafe) = 662100.648700 NBT are outstanding.

15.00 percent of outstanding Nubits, 99315.097305 NBT (150.321405 BTC), are reserved and excluded from the share buyback calculation.

25.742961 - 150.321405 = -124.578444 BTC (17007.987957 - 99315.097305 = -82307.109348 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -6.2289 BTC (~ -4115.36 NBT)

Standard < -2500: Sell 4115.36 NBT (6.2289 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3310.503244 NBT

Standard x F (-2743.570312) < -1000: Sell -2743.57 NBT (4.1526 BTC) amount of PPC next week.

2 Likes
Ideal Liquidity Operations practices and policies
[Passed] Temporarily cap NBT supply with full reserve
Nu Blind Auction NSR #2 (closed)
#237

Nushares buyback calculation as of Sat Jul 2 00:31:13 UTC 2016
blocks":945777
Total NBT = 1321312.3743

Uncirculating Nubits

Total NBT in circulation is 661928.751700 NBT.

Tier 4 Funds

bitfinex BTC mid price is 676.73 USD
btc-e PPC average price is 0.00063 BTC

Tier 4 buy side funds 25.742961 BTC, 0.000000 PPC, and $0.000000, valued $17421.033761 (25.742961 BTC)

Of the 661928.751700 NBT in circulation, 661928.751700 - 0.000000(NuSafe) = 661928.751700 NBT are outstanding.

15.00 percent of outstanding Nubits, 99289.312755 NBT (146.719242 BTC), are reserved and excluded from the share buyback calculation.

25.742961 - 146.719242 = -120.976282 BTC (17421.033761 - 99289.312755 = -81868.278994 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -6.0488 BTC (~ -4093.41 NBT)

Standard < -2500: Sell 4093.41 NBT (6.0488 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3309.643759 NBT

Standard x F (-2728.942633) < -1000: Sell -2728.94 NBT (4.0325 BTC) amount of PPC next week.

1 Like
FLOT NSR Operations (buy side)
#238

Because @jooize just burned nbt from last week’s auction, noy

649989.073700 NBT are outstanding.

1 Like
#239

Nushares buyback calculation as of Sat Jul 9 01:15:10 UTC 2016
Get moneysupply from nud
"blocks" : 956778,
Total NBT = 1308057.1517

Uncirculating Nubits

Total NBT in circulation is 648673.529100 NBT.

Tier 4 Funds

bitfinex BTC mid price is 660.005 USD
btc-e PPC average price is 0.000605 BTC

Tier 4 buy side funds 25.742961 BTC, 0.000000 PPC, and $0.000000, valued $16990.482744 (25.742961 BTC)

Of the 648673.529100 NBT in circulation, 648673.529100 - 0.000000(NuSafe) = 648673.529100 NBT are outstanding.

15.00 percent of outstanding Nubits, 97301.029365 NBT (147.424685 BTC), are reserved and excluded from the share buyback calculation.

25.742961 - 147.424685 = -121.681725 BTC (16990.482744 - 97301.029365 = -80310.546621 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -6.0841 BTC (~ -4015.53 NBT)

Standard < -2500: Sell 4015.53 NBT (6.0841 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.666667
PPC Standard is -3243.367646 NBT

Standard x F (-2677.018221) < -1000: Sell -2677.02 NBT (4.0561 BTC) amount of PPC next week.

2 Likes
FLOT NSR Operations (buy side)
#240

v0.10 use 100% reserve. show NBT price. Standard is much higher.

Nushares buyback calculation as of Sat Jul 16 00:01:04 UTC 2016
blocks":966583
Total NBT = 1271469.0029

Uncirculating Nubits

Total NBT in circulation is 612085.380300 NBT.

Tier 4 Funds

bitfinex BTC mid price is 665.52 USD
btc-e PPC average price is 0.000625 BTC
Poloniex NBT/BTC 0.00127939 $ 0.85146
The following calculations use 1 NBT = $1.

Tier 4 buy side funds 25.742961 BTC, 0.000000 PPC, and $0.000000, valued $17132.455172 (25.742961 BTC)

Of the 612085.380300 NBT in circulation, 612085.380300 - 0.000000(NuSafe) = 612085.380300 NBT are outstanding.

100.00 percent of outstanding Nubits, 612085.380300 NBT (919.709972 BTC), are reserved and excluded from the share buyback calculation.

25.742961 - 919.709972 = -893.967011 BTC (17132.455172 - 612085.380300 = -594952.925128 NBT) are in the share buyback pool.
The Standard is 5.00 percent of this, -44.6984 BTC (~ -29747.65 NBT)

Standard < -2500: Sell 29747.65 NBT (44.6984 BTC) amount of NSR next week.

Auxiliary reserve flow is 0.100000
PPC Standard is -3060.426901 NBT

Standard x F (-2974.764626) < -1000: Sell -2974.76 NBT (4.4698 BTC) amount of PPC next week.

1 Like
FLOT NSR Operations (buy side)
Nu Blind Auction NSR #5 (closed)
#241

How could you maintain 100% reserve when BTC price volatile? perhaps fluctuates around 50-150%.