Backbone Reserve Operations (Tier 6)

[ConfusedObserver]

The quickest way to promote the product is to get new shareholders and investors backing it and spreading the word.

What word would you spread? That Nu isn’t sustainable? Or do you think of a baseless pump?
Would you like to sell NSR at a better rate?

Would you invest your money into shares of a company that show a continuous decline since inception?

No and I will only change my mind, if Nu managed to implement revenue in its business.
I would invest money in a business that has a development fund and revenue on its agenda.
Nu has close to no development fund and no revenue on its agenda.

Im sure it is probably more complicated than this, but sometimes the answers are hiding in plain sight.

The answers aren’t hiding in plain sight.
I write the most important of it over and over.
Revenue, revenue, revenue, revenue…

Once you have revenue, people will want to buy NSR.
But all proposals for revenue have either been ignored or fought.

[serfer]

What word would you spread? That Nu isn’t sustainable? Or do you think of a baseless pump?
Would you like to sell NSR at a better rate?

As a share holder that invested my BTC to help this company, I can choose to do whatever I want with my shares. If I want to sell them to see a return on my investment at first sight of growth, I can. If I want to hold onto them for years and hope for an even larger return, I can do that too. The idea is to create stable growth in the value of shares which will in-return provide a stable, constant revenue stream for Nu. This is the type of product people will continually back and provide “revenue” for in the form of share buying.

The answers aren’t hiding in plain sight.
I write the most important of it over and over.
Revenue, revenue, revenue, revenue…

Does revenue not come in the form of selling NSR shares? I am proposing a different structure of NSR sales to encourage the growth of this product rather than hinder it. I believe Nu is short selling itself selling at these rates. How much lower shall we make the price? Take it all the way down to zero sats?

[ConfusedObserver]

Does revenue not come in the form of selling NSR shares?

NSR are equity of Nu and therefore its issuance is recorded as part of the equity reserves in the balance sheet.
Proceeds from sold equity (shares) can’t be accounted as revenue, but as assets instead.

But I know that Nu not only has no revenue, it also has no accounting.
Or do you find anywhere a report following GAAP or IFRS?

If you want to have a quick overview, look at the seven parts here:

Accounting Basics | Explanation | AccountingCoach

[jooize]

2016–09–29

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[Sabreiib]

The peg is restored, why continue to sell NSR?

[ConfusedObserver]

How many assets on buy side (BTC) does Nu have?
How much of the buy side at Poloniex is from Nu?
How much BTC does Nu need to exchange with Nulagoon to allow Nulagoon pay customers their BTC out?

Depending on the answers there might be some reasons to continue NSR sale?

[Phoenix]

The peg is restored, why continue to sell NSR?

To build our reserves to the mandated level. Right now, our mandated reserve percent is around 46%. I am hoping @mhps will give us a current calculation of our money supply soon, but we aren’t near 46%. We are probably at a little less than 10% reserves, as a percentage of the money supply.

When the reserve is full, NSR sales will stop. As soon as the reserve exceeds the requirements, NSR buybacks will begin.

[jooize]

2016–09–30

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[serfer]

Just for clarification and transparency: My understanding is that Nu sells 2 million NSR a day to build reserves.

Apart from the daily NSR sales, does Nu also keep NSR on the sell side books on Poloniex?

[mhps]

I am hoping @mhps will give us a current calculation of our money supply soon

all nu blockexplorers are down. can’t run the calculator.

[Phoenix]

Apart from the daily NSR sales, does Nu also keep NSR on the sell side books on Poloniex?

Sometimes. @jooize may have more up to date info, but I believe our lowest NSR sell order at the moment is at 86 satoshis.

[Phoenix]

all nu blockexplorers are down. can’t run the calculator.

Aren’t we paying to both @backpacker and @JetJet13 to host instances of the explorer?

[backpacker]

http://nuexplorer.ddns.net is up as it has been for months.

[jooize]

Current sell orders:

• ~6 K NSR at 87 satoshi.
• 1 M NSR each at 88–96 satoshi.
• ~800 K NSR at 97 satoshi.

[jooize]

2016–10–01

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[mhps]

http://nuexplorer.ddns.net is up as it has been for months.

it was working when I tried it a week or two ago. i just tried it and it works.

[jooize]

2016–10–02

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–03

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–04

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize

[jooize]

2016–10–05

2 M NSR sold into buy wall.

BTC Poloniex @jooize → Poloniex Gateway @jooize