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%].
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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.
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.
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?
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
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.
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.
