[Voting] NSR Buyback Prices

This draft is in response to this discussion

I make no claims to know what is best, I simply picked parameters that I felt were reasonable given what we’ve seen so far with the buybacks. This motion reduces the potential volatility in NSR price at the cost of a) possibly not being able to buy back all of our allotted NSR in a week [110% on friday instead of 150%] and b) possibly not getting as many shares as possible if the price starts declining quickly during a buyback [90% on tuesday instead of 80%].

Motion RIPEMD160 hash: fa9596278970ed57e75b59eb01e15ce574911520

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The price of buyback orders throughout the week will be adjusted to the following scheme:
Monday: 70%
Tuesday: 90%
Wednesday: 95%
Thursday: 100%
Friday: up to 110%

All other existing clauses on the buyback process remain, including:“If the entire purchase order is filled on a Monday, a 5% discount will be added to each day the following week. If the entire purchase is not filled on a Monday, the following week will be the standard discount above.”

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Verify. Use everything between and including the <motionhash></motionhash> tags.

Thaks for putting this together. Those numbers seems reasonable.

I d add a clause that allows buyback operator to pull back the old values quickly in the excepcional case something starts to go really wrong

Perhaps something about how the operator chooses the price? That they ultimately have the say over what the daily price is?

A set schedule of specific values are preferred for buybacks. It is likely that certain shareholders will be disappointed by the performance of @NSRBuyback at times if that account is relying on judgment alone, and that dissatisfaction will detract from the positive PR of the buybacks.

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Do you have any objections to the OP if it passes (your opinion is also good to hear)? Any good way of wording the concern @desrever has for extreme contingencies? For instance, if sunday night the only volume is on cryptsy at 50% higher price than the lowest sell order on other exchanges, clearly @NSRBuyback should not be using the price CoinMarketCap will be listing.

If shareholders vote for that schedule, I’m sure @NSRBuyback will follow it. I still think shareholders underestimate what will happen if the buyback pool begins to shrink - it is possible shareholders will begin undercutting each other quite quickly. I would still prefer 70% on the first day for that reason, but then back up to your suggested 90% / 95% / 100% / 110% schedule for the remaining days.

I would also add to the motion that all other existing clauses from Jordan’s motion remain. This would cover this clause in particular:

If the entire purchase order is filled on a Monday, a 5% discount will be added to each day the following week. If the entire purchase is not filled on a Monday, the following week will be the standard discount above.

I’m not sure what concern @desrever is referring to. What can go wrong with a set-schedule buyback?

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I think using 70% on the first day satisfies @desrever’s request

I edited the OP.

I wasn’t referring to any particular risk, just being extremely cautious :wink:

How do you work out what exchanges to do the buy backs from,does the fees the exchange charge you have a say in it?

There’s only really 2 exchanges with NSR volume: bter and poloniex. Poloniex has a withdrawal limit.

This motion is very specific and is not meant to fundamentally alter the buyback operation except for the specific numbers mentioned.

Through time as I learn my craft here I would like to offer liquidity on an exchange we dont use,though I may have to start by offering NBT/DOGE :stuck_out_tongue:

How does one determine the buyback price of NSR, is it a hit and miss thing or is a there a mathematical equation.Sorry if I ask too many questions but I really want to grasp as much information as possible.
Where is Nubits registered as an entity or company??

Buyback price is determined by taking the volume weighted price from something like coinmarketcap.com then applying the formula that is being determined by this motion that I’m drafting in this thread.

I don’t think Nubits is a registered company, but I don’t really know. That question does seem a little out of the blue :stuck_out_tongue:

The reason I asked was just pure curiosity as I registered my exchange in IOM seems the place to be.

As we do buybacks instead of dividends,is there any reason to connect your peercoin wallet now to your nubits??

We are doing buybacks instead of distributions. They are different economic procedures used in different situations. We could do a dividend distribution tomorrow if we voted for it.

I have hashed this. I will withdraw it if there’s a better option that emerges from this thread:

Not voting for this, I’m fine with the current schedule.

What does this mean, repurchase to stop? Or a new vote from, I very much support the buyback, it makes us stand a relatively high altitude, forming a virtuous circle.

This doesn’t affect volume of buybacks. The biggest change is the 10% over buy instead of 50%. It’s a more modest price curve.

Honestly, I’m not sure I’m going to vote for this either. Still, it was the product of community discussion and I thought it proper to hash it.