So over the last 3-4 days it seems as if the B&C BlockShare sale has moved from 45% to 48%. I would say it’s possible that we’ve stalled out. I haven’t posted about the direct sale of BlockShares yet on r/cryptocurrency or r/bitcoin because I was waiting for funding to surpass 50%, but it seems like it’s taking a long time for that to happen. I have been posting about this on Peercoin channels for a while now. Just yesterday I sent out a newsletter to all our members about Peercoin related news items and gave B&C a prime spot at the top and it doesn’t seem to have affected the sale that much. I think maybe we’ve run out of interested people in the Peercoin community. The project development board on bitcointalk where the main thread is posted has given us a lot of awareness and we now have over 20,000 views, but not everyone visits that board to find out about it.
I think what we need to do is expand to other areas to increase awareness. We’ve used up all the free options like posting threads in various places, but sometimes you have to spend some money to make money. I think we should be looking at purchasing space for an advertisement banner at the top of Coinmarketcap.com. This is something Neucoin did for their presale and they apparently sold out. Placing ads on r/bitcoin is also something we can do. BCExchange told me that paid B&C advertisement banners are impossible right now because no funds have been raised and that their current stance is that no NuShareholder funds should be used for B&C Exchange unless authorized by shareholders.
So my question is would shareholders be willing to authorize a NuBits grant to help advertise the sale to more people so we can achieve our fundraising goal, or are we going to let this opportunity slip through our fingers? The consequences of this fundraiser not succeeding could be very bad. We could end up losing all our paid contractors, since there will be no funding to keep them working. We wouldn’t have a decentralized exchange for cheaper liquidity operations. Somebody else with proper funding could take Jordan’s plan and run with it. I think it’s clear we need to do everything we can to ensure this is successful.
There is no B&C logo and it won’t be created until after the fundraiser is successful, so we would need to create an ad banner without one. I’m sure that can be done though. We just need something that will generate interest in the BlockShare sale. Maybe make it a moving .gif image with different messages about the huge need for a decentralized exchange and the fact that owning BlockShares will earn you constant Bitcoin dividends for helping to provide an exchange service. Would @tomjoad or someone else be willing to put a proposal together for this? I myself don’t really have the time available to do it and am just trying to start a discussion here about it. We need to do something, because it’s becoming clear that the sale needs more exposure. The people that have already pledged aren’t going to sit around and wait forever. If nothing is going on then they’re going to take their money and move on. This is something that needs to happen now if we’re going to do it. What do you all think?
I don’t know. As I said I’m just trying to start a discussion on it. I lack the time to be able to properly carry something like this out myself and I’m hoping you all will take the idea and run with it. The costs are something we would need to figure out first. I imagine @tomjoad and @Cybnate might have an idea about the cost of the ad banner at least, since they’re supposed to be using the same method to advertise the Shapeshift integrated Android wallet when it releases. We’d need to figure out costs for Reddit as well.
Both are alternative ways of ensuring NuShareholders are rewarded with BlockShares equity, and I hope both approaches are discussed. Thank you for sharing this @Sentinelrv.
An estimate for coinmarketcap.com banner costs based on what @Cybnate and I have found out in our preparations for mobile wallet advertising: 100-200 NBT for the creation of the banner with our graphic designer, and 2500 NBT for 1 month of advertising on coinmarketcap.
While we need to be very careful about spending at this time, it is also clear to me that within a few months the reference client, NuBot and TLLP will all be reasonably complete and mature. There are certainly additional improvements that can be made, and we want to see a continued evolution in their design, but our scarce resources are probably better spent on marketing and growing our community in the immediate future. So, the type of action proposed here is a great idea. I’m curious to see if @tomjoad has interest in moving it forward and can tell us what it would cost for a logo.
The choice we are facing is not really so much spending on development versus spending on marketing and growing the community. Rather, the situation is that we don’t have the resources to quickly develop going forward. To get those resources, we have to bring more money to the network.
Besides B&C Exchange providing cheap and secure liquidity in an environment that permits NuBits to be a true transactional currency, it will provide all NuShare holders with marketable asset. So, I believe the actions proposed are likely to bring value to NuShare holders.
I’m totally in favor of supporting B&C Exchange - at least with marketing!
Like I wrote in another thread about B&C Exchange, I would even dare to go further:
I think B&C Exchange is important for Nu in many ways. And it’s important that B&C Exchange is connected to Nu.
It I’m talking here about B&C Exchange being funded under the current proposal.
B&C Exchange is not only based on the development that was put into Nu, but on the money that was put into Nu as well. It wouldn’t be possible to design it this way if Nu had not paved the ground for it.
Making B&C an offspring of Nu without rewarding NSR holders for it seems wrong.
It were like profiting from Nu development without rewarding the creators and owners.
Yet this is entirely possible. Nu is open source. The B&C Exchange design is revealed.
But even if it weren’t possible to fund it based on the current proposal, worst case without BKS for NSR holders, it would be good to have something like B&C.
A decentralized exchange would be helping to provide Nu with comparably cheap liquidity, because the exchange default risk will be minimized.
And that’s where it could get tricky: a B&C that is decoupled from Nu, might not necessarily have NBT trading pairs…
So I’m totally for pushing the B&C Exchange funding the best we can. Buying advertisement, spreading the word, putting another thread in the announcement section of bitcointalk.org or wherever it might be appropriate are the least we can do.
I hope that the TLLPs as well as the NuLagoon help to raise other people’s interest in Nu and B&C. Those pools are a perfect vehicle to get people in contact with and hopefully fascinated by Nu!
I mined Bitcoins before I knew what it’s really all about and it got me here
Without Bitcoin mining pools that wouldn’t have happened - at least not this way.
After all people might learn that money can be made with Nu - by providing services to Nu, but by getting a share of it as well.
Nu might be open source and the B&C Exchange design available for everyone.
Still I doubt that a (development) team different from this one led by @JordanLee, that has created Nu, could achieve creating something like B&C Exchange with the same devotion, precision or a competitive price.
These are turbulent times, but a lot is going well!
Nu is here to stay. Make it’s mission supported by B&C Exchange!
I would be enthusiastic about leading the creation of a B&C logo. The NuBits logo was developed for a little over 1000 NBT using 99designs.ca and some follow-up polishing from Skycatchfire. The pricing seems to have increased slightly since then so I would estimate 1500 NBT. That contest type approach worked quite well for Nu. The other alternative would be to work directly with a reputable designer, and that would probably cost between 1000-2000 NBT.
Running coinmarketcap.com banner ads would be possible soon after the logo is finalized. I would expect the logo creation process to take about 2 weeks, and CMC banners created and displayed 2 weeks after that.
I haven’t seen much discussion about the idea @masterofdisasterreferenced here and am unsure if it’s generally considered undesirable or if the length of the post scared people off. As a NuShareholder I would support it (and the dilution of my NSR to fund it) completely.
I guess some potential investors like to buy both NSR and BKS, just like me.
I believe B&C is a very risky project because ethereum and open transaction is near.
nubits project has little income and the furture is up to BTC price and more and more new NBT sales proceed. I suggest:
make profit before you spend, if you have no profit, don’t spend at all.
wait for OP or ethereum, these can save our expenditure.
In NBTers’ eyes, is the NSR a infinite resource that you can drain it endlessly? Today we grant some money for this, tomorow we spend some NBT for that, are you magician? Where is the finacial/accounting report, the company operation status?
Equity=?
Liability=?
Asset=?
Tell potential investors about accounting before let them invest, Nu is a DAC/DAO, a company, not Bitcoin.
I wanted to reply on bitcointalk.org, but it is down at the moment, so I will post here for now and there later.
The Open Transactions project was started in 2011 and has been months away from release for years. I took a look at their source code some time ago and was quite unimpressed with their architecture. Their code was extremely verbose and repetitive. They seemed to not make good use of core programming concepts such as inheritance, overrides and abstract classes. Chris Odom is the original developer of Open Transactions, but stepped down from his role as CTO at Monetas (the company developing Open Transactions) two months ago. What is it that makes you think the release of Open Transactions is near? I hope they succeed, but my guess is it will never be released. I have said before I wouldn’t want to be tasked with building Open Transactions because I don’t know how to implement the specifications. I don’t see any reason to think anyone else knows how to either.
Ethereum is making better progress toward release, but is there any reason to think it will be an effective competitor of B&C Exchange? Looking at the Ethereum subreddit, I found this discussion of a decentralized exchange to be hosted on Ethereum:
There, I found the following comments:
You will not be able to use Ethereum to trade native cryptoassets. Proxy assets may be employed, like BitBTC on Bitshares. That is not at all the same as trading native Bitcoin for native Bitshares, which B&C Exchange will allow users to do and is what users want to do. B&C Exchange is a groundbreaking design that meets needs no competitor can.
Ethereum is based on the notion that one blockchain can rule them all, or that a cleverly built blockchain can serve a wide variety of business models simultaneously. My guess is that it will not optimally serve any business model. The Peershare philosophy is quite different. It employs separate blockchains with diverse protocols for diverse business models. Each Peershare doesn’t do everything, but each one does something very well. As a group, they can serve a wide variety of business models.
@JordanLee, I have responded to your post in my other thread about the use of BlockShares, rather than NuShares in case you didn’t see it yet. I also posted a clear layout of what could happen in response to Tomjoad’s post.
Liability equals the NBT market cap minus the NBT held by all custodians. This includes myself, KTm, Jamie and maybe Cybnate (depending on your perspective). I believe this number is around 250,000, but the others would need to report to arrive at a precise figure. Assets don’t really compute in our decentralized, zero reserve design. However, from some perspectives the NSR market cap can be viewed as containing assets.
You don’t see as much accounting information as you would like precisely because Nu is decentralized: no single person has the info. However, I have asked everyone involved to report figures simultaneously at times in the past, but I hope you don’t view that as my job, because it isn’t.
I have provided many updates regarding my own part of the accounting for the organization. Two days ago I had 207,000 NBT plus ~30,000 NBT in the hands of the person handling some contractor payments. I’m sure that 30,000 is less today, but I don’t have specifics right now. I have ~26,000 in tier 4 liquidity right now.
One ethereum blockchain handle all business? Sounds not very good approach. I like the “distributed” style.
I think you need to advertise the difference between B&C and OT/Ethereum on bitcointalk forum to get more investors. Bring up a white paper/ppt to demonstrate the pros and cons, if an argument occurs, more people are interested because nowadays the bitcointalk thread participants are mainly from PPC/Nu community.
Agree with that the Liability = sold NBT.
The asset of Nu should include software, computer(hardware) of NSR miners and the BTC/FIAT/NBT held in LPCs’ hands. Some LPCs bring their own money(BTC) to provider liquidity, those BTC/FIAT/NBT is both Nu’s liability and asset, ie no impact on equity. But their comission/reward(such as 7.5%/month), is Nu’s expenditure. Those expenditure weakens equity continuously. We need find ways to compensate the expenditure, and make equity positive, othewise the Nu’s equity will be always negative. If Nu business cannot make profit, the market capitalization of NSR is nothing, worth nothing.
I think it’s not difficult to report the finacial status of Nu DAC, how many NBT sold(not in LPC’s hands)? How many BTC/NBT on buy/sell wall(in LPC hands)? How many NBT burned as transaction fee? etc… I even imagine in future people can print/export to CSV format of the finacial report of Nu just by clicking wallet’s menus.
As long as we manage the equity positive and even increase the equity, Nu is not ponzi at all because this system can last long, from this day, to the end of people’s days.
If you need to admit one thing about Unix, it is that Unix is very robust by design. That’s what an ecosystem formed by Peershares DACs can be as well.
And B&C Exchange can be one of these Peershares DACs, a special one which is a hub to trade assets - in the near future of crypto currencies and wanna-be-currencies; mid-term it might become something like NYSE, but instead of the centralized NYSE it would be a distributed version.
