Also the NSF has 99,999 NAUT (almost back to full capitalization) and has earned 0.02816 BTC from Stabilization activities. This BTC will be used to support the market.
If I understand correctly, thats how you'll be able to do the 1% reduction each week right?
Lets say... you sell 5000 NAUT at 2k = 0.04 btc
Now you would be able to buy/support 10000 NAUT at 1k with that btc.
So, if anyone dumps in your support order, now you have more NAUT than you had before, so besides keeping the NSF working, you would be able to remove some of these coins of the market.
Am I right?
Yes that's exactly how it works - but the 1% reduction is an algo within the code.
What I am doing with the NSF is bringing Wall Street trading to altcoins - so if I sell at 0.04 then I will buy at 0.035 - this way the NSF makes a little on each transaction and over time that will add up and can be used to support the market.
The Achilles heal is that in the beginning the NSF needs to make sales to get BTC - over the last week people have sold NAUT to levels that I decided was too low to sell for NSF therefore I stopped making sales. As the price has risen I have been able to make some sales and capitalize the NSF. The bigger the BTC holdings of the NSF the better off this coin will be, but in the beginning it can be overwhelmed by sell orders.
This is more art than science and that is why I am trading the NSF by manual at first - once it is well capitalized I will automate the process.
