We should all be delighted at the increase in the NuBit price from around $0.20 a few days ago to $0.40 right now. We have also observed increased liquidity in NuShares in the last day with a modest increase in price. It appears to be a powerful display of confidence in my ability to lead as Chief of Liquidity Operations. Over the last day, my custodial grant to be elected Chief of Liquidity Operations has begun to receive over 50% support. This means in a few short days I will become Chief of Liquidity Operations if current voting trends continue.
I have said quite a bit about what I would do as Chief of Liquidity Operations as I have been campaigning. It is no secret. I have said I will aggressively support the NuBit price immediately and at all times. The credible prospect of such a policy being implemented appears to have caused a powerful bull market in NuBits the last few days as it was becoming apparent I would be elected. And for good reason. This is the last chance anyone will have to acquire cheap NuBits. It is a great start to the time when I lead Nu’s liquidity operations. I plan to deliver more success, and soon.
Soon I will be publishing a Statement of Policy Intent for Discussion to give an opportunity to discuss what I plan to make our short term liquidity operations policy. The centerpiece of it will be purchasing NuBits in the open market each day with 10% of our total tier 4 funds. I will propose we also conduct NSR auctions and NSR sales on Poloniex simultaneously. More details will be included in the Statement of Policy Intent for Discussion, which will be contrasted with a Statement of Policy, which is an order to conduct liquidity operations in a particular manner consistent with NuLaw. I will not release a Statement of Policy until properly elected, but everyone will know what it will be based on the Statement of Policy Intent for Discussion that will proceed it.
I realize I haven’t been as popular with liquidity providers as I have been with shareholders. Now is the time to put our disagreements aside and focus on our mission of supporting the value and liquidity of NuBits. We need to work effectively together to do what shareholders have told us to do. I will do my part.
It is best for shareholders if we continue using multisig addresses to handle large amounts of assets. Other liquidity providers and myself will handle smaller amounts of funds in single key addresses so that we can nimbly move modest amounts of funds. At the present time I need to have enough NSR in hand to last until I can secure an additional custodial grant to mitigate the possibility of multisig signers not performing according to policy.
All blockchain addresses used in liquidity operations will be revealed, as will all complete exchange trade logs. Trading activity will be revealed after the event to prevent trading participants from taking advantage of shareholder sales.
As stated before, I would like @jooize to join my liquidity operations team. From my communications with him he is open to that, but no agreement has been secured as details have not been discussed yet. I would like him to continue with NSR auctions and also perform NSR sales on Poloniex.
Some market participants have turned from fear to greed, from pessimism to optimism. My plan is working. Let’s keep the momentum going with professional execution of our duties.
Did you perform some kind of background check on @jooize to select him over others, seriously?
What makes you think he will not be another @masterOfDisaster in your mind?
Do you have the power of remote-viewing and telepathically communicate with this guy and even control him remotely?
How do you plan to have a coercion on him and make him execute exactly your instructions? these are crucial questions
During the recent crisis he advocated responsible and effective liquidity operations actions.
He seems pretty cooperative, so this a very hypothetical question. I have said I will dismiss any liquidity provider who is not subordinate to my policy or who demonstrates contempt for NuLaw.
We are so lucky to have you jordan. You are here to solve the mess that you have created in the first place. And because the market has such gigantic trust in you, the price of nbt/nsr is mysteriously rising before your election.
This whole thing is really a machiavellian plan in fulfillment, to enrich yourself and get control of Nu.
You need software bots for that, that do as coded and told.
Humans are economical agents, at least, and will always change their mind because of their incentives, at least.
I would urge you to develop autonomous liquidity provider agent, as soon as possible
Both yours and @Cybnate/@creon’s plans attempt to restore the peg. So don’t take all the credit. Your plan and @JordanLee’s track record lack emphasis on revenue/profit generation. Without long-term foudamentals (a sound profit plan) these movement would be technical in nature. one can take advantage of it. many are doing it for own profit, not because they support you.
@Phoenix, as owner of 1% of Nu, I want you to answer something for me if you want to have a chance at earning my support. I know your focus is on restoring the peg, but lots of shareholders as you can see are hesitant about restoring a peg that they believe is most likely going to collapse again if nothing is done to change our revenue situation.
Let’s say your plan works and we restore the peg and achieve 100% reserves. What happens after that? How do we sustain liquidity provision at a 1% spread without wasting all our reserves doing so? Do you have a plan once we reach this point? Without a plan to increase network revenue, it’s inevitable that we will once again fight a losing battle trying to maintain a peg that is wasting all our financial resources.
Please don’t avoid this question because you believe it’s the wrong focus at this moment in time. I understand you believe shareholders need to be focused on restoring the peg and not revenue, but the point remains that we need to have a plan in place for when the peg has been restored. You have said there are countless revenue sources, but we were unable to find any during our first try to prevent this collapse from happening. Do you have any specific and realistic ideas for increasing revenue once the peg is restored or are you hoping that shareholders will come up with these solutions? If you do have ideas, do any of them not hinge on increased adoption? In other words, can any of them be implemented today?
I thank you for taking the initiative.
We need to recognize that you take actions and you mean it.
But i am waiting to see how you handle shareholder s money, the degree of integrity and transparency you show before supporting your proposals.
As a feed provider i am right now supporting none of them.
@Sentinelrv, I raised this profit model problem when I transalated white paper into Chinese in Sep 2014, and have got no answer. During these years, my opinion is very unpopular in this community, I guess most dislike me for the repeating “revenue” or “inflation” questions.