Sure. If Nu sells tons of new nubits – say btc crashes and people want to buy NBT – then it will have tons of fund to buyback.
1 Like
Ok. I have one more question.
Last week we didnt have buybacks because BTC value for buybacks was too low, so is this value adding into buyback this week?
Each week we buyback 10% of the overflow. If 10% of the overflow is not > $2500 we will not buy back. If we dont buy back then we still hold the money, so it will be used the next week if possible. However, no, previous buybacks (whether they happen or not) have no direct effect on future buybacks other than changing the number of btc in our reserve.
1 Like
So that would mean no buybacks this week too??
always yes we not have much btc in hand
Sorry for the delayed response.
Address BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP was originally a custodial grant address mandated for both development expenses and tier 4 liquidity operations. Because funds to be spent on development should probably be considered NuBits in circulation, while funds for tier 4 liquidity operations should not be considered as NuBits in circulation, these funds are in a bit of a grey area as to how they should be regarded when calculating the number of NuBits in circulation. Excluding this address (BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP) and the 150,000 on B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj, I have 18,390 additional shareholder NBT that are reserved to pay for NuBit development expenses. Because these 18,390 NBT are likely to be spent on development in about 60 days, I am inclined to consider those as in circulation. The ~44,000 in BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP will not be spent on development during March or April and is a paired NuLagoon Tube address actively used for liquidity operations. Therefore, it is probably appropriate to regard these funds as not in circulation.
In summary, I am inclined to add address BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP to the list of addresses with balances that are out of circulation.
1 Like
Thanks for the explanation. I agree with your view above and will modify the buyback calculation script.
Calculation changelog
v0.5 20160303 add Jordan Lee’s NBT holdings https://discuss.nubits.com/t/nsr-buyback-calculations/3347/90; modify Jordan Lee’s BTC holdings https://discuss.nubits.com/t/nsr-buyback-calculations/3347/92; add URL to displayed btc and nbt addresses; add url error handling
Output
As of Sat Mar 5 01:59:00 UTC 2016
"blocks" : 773994,
Total NBT = 1273828.2321
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 34539.155 NBT
FLOT 3-of-5 multisig
Balance of BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js is 148563.3816 NBT
Total NBT in circulation is 789225.695500 NBT.
Required 15% reserve is 118383.854325 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 192.77846541 BTC
Tier 4 buy side funds controlled by JordanLee 138.0 BTC
NuSafe has $30000 for T4
bitfinex mid price is 406.34 USD
Tier 4 buy side funds total 330.778465 BTC and $30000.000000, valued $164408.521635 (404.608263 BTC)
118383.854325 NBT excluded from the share buyback calculation equals 291.341867 BTC.
404.608263 - 291.341867 = 113.266396 BTC sits in the share buyback pool.
10 percent of this 11.326640 BTC will be used for share buyback next week.
That is equivalent to approximately $4602.466731.
Code
# Nushare buyback calculation v0.5
# mhps 2016
# change log
# v0.5 20160303 add Jordan Lee's NBT holdings https://discuss.nubits.com/t/nsr-buyback-calculations/3347/90; modify Jordan Lee's BTC holdings https://discuss.nubits.com/t/nsr-buyback-calculations/3347/92; add URL to displayed btc and nbt addresses; add url error handling
# v0.4.1 update Jordan Lee's T4 BTC holdings
# v0.4 update Jordan Lee's T4 BTC holdings; comment out gateways; add NuSafe
# v0.3 https://discuss.nubits.com/t/nsr-buyback-calculations/3347/56
# replace this to how nud is run locally
NUD=./daemon/nd
echo As of `date --utc`
$NUD --unit=B getinfo | grep 'blocks'
totalNBT=`$NUD --unit=B getinfo | awk '$1 ~ /moneysupply/{print $3}' | tr -d ,`
#totalNBT=1273828.2321
echo Total NBT = $totalNBT
echo $totalNBT > templist
echo
function nbtBalance { tempval=`curl -s http://blockexplorer.nu/api/addressInfo/$1 | awk 'BEGIN{RS=",\"";FS=":"}{print $1,$2}' | grep totalBalanceInt | awk '{print $2}'`;if [[ $tempval == "" ]]; then echo Block explorer is down; exit; else echo Balance of [$1]\(http://blockexplorer.nu/address/$1\) is $tempval NBT; fi }
function btcBalance { tempval=`curl -s http://btc.blockr.io/api/v1/address/info/$1 | awk 'BEGIN{RS=",\"";FS=":"}{print $1,$2}' | grep balance\" | awk '{print $2}'`;if [[ $tempval == "" ]]; then echo Block explorer is down; exit; else echo Balance of [$1]\(http://btc.blockr.io/address/info/$1\) is $tempval BTC; fi }
function btcPrice { tempval=`curl -s https://api.bitfinex.com/v1/pubticker/btcusd | awk 'BEGIN{RS=",\"";FS=":"}{print $1,$2}' | grep mid | awk '{print $2}'| tr -d \"`;if [[ $tempval == "" ]]; then echo bitfinex BTC price source is down; exit; else echo bitfinex mid price is $tempval USD; fi }
echo FSRT multisig
nbtBalance BhCnQrYrA5LZm871dtMQEXeU93gmqbhdrC
echo $tempval >> templist
echo FSRT singlesig
nbtBalance BFTnCyMX1nsTNp6X7Bcm1qVocvShdbwtMi
echo $tempval >> templist
echo JordanLee singlesig
nbtBalance B5Zi5XJ1sgS6mWGu7bWJqGVnuXwiMXi7qj
echo $tempval >> templist
echo JordanLee singlesig [from liquidity ops]\(https://discuss.nubits.com/t/nsr-buyback-calculations/3347/90\)
nbtBalance BT9AWq9r1i6kghZc6LtrvNb2wRFh7JLCdP
echo $tempval >> templist
echo FLOT 3-of-5 multisig
nbtBalance BqyRzFtWXDmjxrYpyJD42MLE5xc8FrB4js
echo $tempval >> templist
#cat templist
# calc the first line minus rest of the lines
circNBT=`awk '{if(n) c-=$1; else {c=$1;n=1}}END{printf "%f",c;printf "%f",c*0.15 > "reserve"}' templist`
echo
echo Total NBT in circulation is $circNBT NBT.
echo Required 15% reserve is `cat reserve` NBT
echo
echo **Tier 4 Funds**
echo
echo Tier 4 buy side funds controlled by FLOT
echo FLOT 5-of-8 multisig old
btcBalance 3QDWJ2yqJ5iTUg6cSpAwxx95ba3NG97hzG
echo $tempval > templist
echo FLOT 5-of-8 multisig new
btcBalance 3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe
echo $tempval >> templist
jltbc=138.0
echo Tier 4 buy side funds controlled by JordanLee [$jltbc BTC]\(https://discuss.nubits.com/t/nsr-buyback-calculations/3347/92\)
echo $jltbc >> templist
nuSafe=30000
echo NuSafe has [\$$nuSafe]\(https://discuss.nubits.com/t/flot-operations-buy-side-btc-related/3117/317\) for T4
# echo
# echo status of sell side gateway:
# $NUD getliquidityinfo B | grep BETwD8nSjtj9ADSvej2na34xmsMYwPRymv -A 2
# echo status of buy side gateway:
# $NUD getliquidityinfo B | grep BFGMPykfKxXZ1otrCZcsbnTwJjKHPP9dsP -A 2
echo
btcPrice
bp=$tempval
awk '{c+=$1}END{\
printf "Tier 4 buy side funds total %f BTC and $%f, valued $%f (%f BTC)\n\n",c,NS,c*BTCP+NS,c+NS/BTCP;\
printf "%f NBT excluded from the share buyback calculation equals %f BTC.\n",RES,RES/BTCP;\
pool=c+NS/BTCP-RES/BTCP;\
printf "%f - %f = %f BTC sits in the share buyback pool.\n",c+NS/BTCP,RES/BTCP,pool;\
printf "10 percent of this **%f BTC will be used for share buyback next week.**\n",pool*0.1;\
printf "That is equivalent to approximately $%f.\n",pool*0.1*BTCP;\
}' RES=`cat reserve` NS=$nuSafe BTCP=$bp templist
1 Like
so we will set buyback order next week?
that is a good news for NSR market.
3 Likes
Is there exact time when weekly buyback price counting progress into new day? Im asking this because I see price change sometimes right after midnight and sometimes in the early morning. In my opinnion this is not good
If the point of time were exactly known, it could be used to game the system.
It also could be much easier for people who are in contact with buyback manager to game the sistem, so they are ahead of everybody else.
Do you doubt the integrity of our buyback manager?
If so, you should think one step further - the buyback manager himself is in the perfect position to game the system.
But know what? Most (should I say: (almost) all) community members trust @Nagalim, because of all he did and does and the way he did and does that.
If you mistrust him, I recommend supporting auctions that can trade BTC for NSR and vice versa, because the transactions there happen on blockchain.
A concept for that has once been created to auction NBT for NSR:
I dont have problem with @Nagalim, i really appreciate everything what he is doing. I was just asking if there is time pattern for progressing days or it is just buyback managers will.
I must say it is really hard to be awake whole night waiting for buyback progress 
So put your orders up earlier 
This is the correct answer. I use a die roll to determine when to move the wall. If i wanted to game the system i would mess with the buyback price more than the time i put it up at.
The order book needs orders. Put your orders up and let the market do its thing. I too have been up late nights watching markets like ppc/usd and the best advice ive ever found is just put your bets in and lay your weary head to rest, let the world keep turning.
I do try to do the move between 12a and 12p UTC. I use the full day’s trades (recent weighted more) to get a price so if you put a sell an appropriate amount below the general market price on tuesday or wednesday night you are likely to get it.
Now that we are operating on only one exchange, maybe it would be good to do every move at the same time each day. My issue with that is that my schedule doesnt really allow the buybacks to be a top priority for me. I’d love someone to propose a motion or a software…
2 Likes
Can the parametric nubot be configured to sell NSR with a huge spread of 90% - 70% of the volume weighted average price in the last 24hr?
1 Like
As far as i know theres no nsr wrapper.
The price feed is another issue.