I should probably articulate what the alternatives to having this NSR auction are:
60,000 NBT per month is a huge expense. If the contractors convert their pay into BTC immediately, it implies that Nu has only 1month of reserve from now, more or less, according to:
876e10611809f3a90f2216fb61f107d3b7c9c469 verified and voted.
Wondering where that 60% is right now. What does it mean to exit circulation? Parked? Burnt?
My estimation gives 70k NBT lost because of exchange default. Have those 70k NBT been exchanged with BTC or USD?
They were purchased on the open market with proceeds from NuShare sales to support the peg. They are currently under my control and will be burned if motion ed7b9fc65dc4e9d9acad61e528420c2690f599d2 passes, which currently has 49.25% support.
The actual number of losses is much higher, and somewhat uncertain at this point in regard to BTER. @jmiller and @KTm have more information than I do on the exact numbers.
Tks for the clarification.
when logging bter set order are still active until cancelled at this moment NBT is
93300.908 NBT total btc is 354.0769 on sells side
47699.234 NBT Total btc is 178.6336 on buy side
once orders are cancelled the Nbt fund will available withdrawal when bter enables it
buy site might be lost you can ask bter for the nbt cold wallet address so you can verify or check
the balance estimation status directly from bter
bter cold wallets info https://bter.com/article/968 nbt or nsr are not showing in the list my but of my old account as some amounts of nbt/nsr in the balance estimation
edited: I would had its high probability that hackers got the bitcoin address from that info link and I might even say EXcoin also had links to hot wallet on bitcoin nbt nsr coin giving hackers a easier target once in the system im all for exchange transparencies but posting address is not very smart.move
So you are saying that the NBT held at BTER are not lost?
Probably close to this
NBT & NSR coins should still be on Bter the sold coin are lost because Btc were stolen once bter enables withdrawals it should be available to retrieve unsold NBT,NSR bter as enabled USD,CNY and working so far next will be NXT then all other ALT-COIN
Wo. That would be good news.
50k less liability according to:
What is the time scale within which “highest” is taken?
Why is it important to equal the buy side to the sell side?
Here are the latest Motion Votes:
##[bda115840291067ba0814032f0c93d4d5900a5cf][1]
[1]: https://discuss.nubits.com/t/passed-motion-to-permit-nushare-custodians-and-burning-transactions
Blocks: 20 (0.200000%)
Share Days: 5881546 (0.184473%)
##[387e7f6ffc7d69311ac2e1d0ca7cd98d4ecbdea9][2]
[2]: https://discuss.nubits.com/t/cybnates-datafeed-beta
Blocks: 2684 (26.840000%)
Share Days: 706677047 (22.164736%)
##[17b6b422188072ab0527231654940bc53e0118db][3]
[3]: https://discuss.nubits.com/t/motion-to-widen-shareholder-funded-custodial-spreads-by-0-05-on-crypto-pairs
Blocks: 1162 (11.620000%)
Share Days: 282586379 (8.863246%)
##[4c1fa7b6b7b435bb215b93a771681232f1fd6237][4]
[4]: https://discuss.nubits.com/t/proposal-to-provide-sell-side-liquidity-and-shareholder-dividends
Blocks: 112 (1.120000%)
Share Days: 28100034 (0.881350%)
##[876e10611809f3a90f2216fb61f107d3b7c9c469][5]
[5]: https://discuss.nubits.com/t/voting-nsr-auction-motion
Blocks: 638 (6.380000%)
Share Days: 178473389 (5.597770%)
##[65cb60d096508a7fa9ecc2017b38bc3afeb5663d][6]
[6]: https://discuss.nubits.com/t/finalized-evolution-of-liquidity-operations
Blocks: 1095 (10.950000%)
Share Days: 382690545 (12.002987%)
##0ed7b9fc65dc4e9d9acad61e528420c2690f99d2
Blocks: 177 (1.770000%)
Share Days: 50282729 (1.577104%)
##[6f361693a7b248730b41d4292f89dc6f6f166bc8][7]
[7]: https://discuss.nubits.com/t/voting-motion-to-make-the-nu-source-code-available
Blocks: 6124 (61.240000%)
Share Days: 1920424786 (60.233610%)
##[eaa95d4d23ecf46e42aed90ba95448d50cb9c5e8][8]
[8]: https://discuss.nubits.com/t/passed-motion-to-adjust-the-dividend-distribution-structure-of-custodian-grant
Blocks: 146 (1.460000%)
Share Days: 35957681 (1.127803%)
##[948aaf97d9f31a94904e3fb08ff4f8733f9ff4dc][9]
[9]: https://discuss.nubits.com/t/voting-proposal-to-continue-lpc-operation-on-ccedks-nbt-usd-for-60-days-and-with-10k-nbt-liquidity
Blocks: 18 (0.180000%)
Share Days: 5228437 (0.163989%)
##0611809f3a90f3a90f2216fb61f107d3b7c9c469
Blocks: 112 (1.120000%)
Share Days: 94553510 (2.965646%)
##[0d29544214dc78cbf9c946c25eb8994435394871][10]
[10]: https://discuss.nubits.com/t/modified-lpc-grant-request-for-supporting-nbt-usd-on-ccedk
Blocks: 208 (2.080000%)
Share Days: 52423338 (1.644244%)
##72f371610c7e8d3f3c34886635aac6fc1bc7a596
Blocks: 8 (0.080000%)
Share Days: 1174608 (0.036841%)
##[1ce96336ac866c29cbcbf0908b0752b0065a3af4][11]
[11]: https://discuss.nubits.com/t/cybnates-datafeed-beta
Blocks: 3437 (34.370000%)
Share Days: 928979485 (29.137193%)
##[d29b0997816d9f5ef8de5c238cca1e618dafc974][12]
[12]: https://discuss.nubits.com/t/motion-to-cease-shareholder-funded-nbt-ppc-operations
Blocks: 417 (4.170000%)
Share Days: 134567985 (4.220689%)
##[0a4c19b33eb40845268a942067416af2ccdc4c93][13]
[13]: https://discuss.nubits.com/t/passed-motion-to-extend-dual-side-operation-of-grant-for-additional-30-days
Blocks: 21 (0.210000%)
Share Days: 4080375 (0.127980%)
##[ed7b9fc65dc4e9d9acad61e528420c2690f599d2][14]
[14]: https://discuss.nubits.com/t/passed-motion-to-end-lpc-operations-of-ktm-jamie-and-nsr-sales-of-jordan
Blocks: 6180 (61.800000%)
Share Days: 1875173414 (58.814312%)
##fe41d64247aea55fd480a3f1bd471bd6cc6a2efe
Blocks: 60 (0.600000%)
Share Days: 16386242 (0.513950%)
Here are the details for the Motion Vote on 876e10611809f3a90f2216fb61f107d3b7c9c469:
##[876e10611809f3a90f2216fb61f107d3b7c9c469][1]
[1]: https://discuss.nubits.com/t/voting-nsr-auction-motion
Blocks: 639 (6.390000%)
Share Days: 178611121 (5.603709%)
Motion RIPEMD160 hash: 876e10611809f3a90f2216fb61f107d3b7c9c469
There has been a modest amount of controversy regarding the planned auction. The passing of this motion will give it the legitimacy it needs and make clear that the majority of shareholders support the auction. I proceeded to announce the auction with the understanding that the time needed to have extensive community discussions and a full voting period was too great for our scenario. Still, there is no r
To clarify, if the NSR must be sold immediately to provide buy side liquidity due to a significant erosion of buy side liquidity, I will sell NSR immediately to those who have already bid. This is unlikely to be necessary.
This provides optimal support to the peg. Someone (@mhps?) recently said they expect the buy side to be even larger than the sell side long term. That makes some sense from the perspective that no one is concerned about our ability to suppress the NuBit price to $1.