What you think Jooize, you gonna throw in the towel and just say fuckit? Nubits was a good project, time to move on…
Not yet. There’s often some path forward if you manage to function in the surrounding negativity.
Any update on this?
2018–03–22
15,000,000 NSR
15000000-4083333.33
0.12500
10,916,666.67-836249.0383
0.02503730
10,080,417.6317-4691151.9000
0.09363539
5,389,265.7317
0.10778531
0.351458 BTC
2018–03–23
0.5% of circulating NuShares: 0.005 * 3,083,850,000 = 15,419,250
15,419,250-1344330.5921
0.05366567
14,074,919.4079-3754705.90
0.15018
10,320,213.5079-1477302.1132
0.04423042
8,842,911.3947
0.26528734
https://twitter.com/OfficialNuBits/status/977022313836269568
https://twitter.com/OfficialNuBits/status/977362283780280321
2018–03–24
0.5% of circulating NuShares: 0.005 * 3,116,700,000 = 15,583,500
15,583,500-10886272.7
0.36208
4,697,227.3
0.09394454
2018–03–25
0.5% of circulating NuShares: 0.005 * 3,132,220,000 = 15,661,100
15,661,100-12602206.1
0.50408824
3,058,893.9-451490.9486
0.01351764
2,607,402.9514
0.07859258
2018–03–26
0.5% of circulating NuShares: 0.005 * 3,132,270,000 = 15,661,350
15,661,350-4510680.38
0.13629
11,150,669.62-2313203.1968
0.06925731
8,837,466.4232
2645.9374 USNBT
2018–03–27
0.5% of circulating NuShares: 0.005 * 3,124,001,886 = 15,620,009.43
15,620,009.43-7829200.2435
2344.0626 USNBT
7,790,809.1865
1555.0455 USNBT
Buy wall of NuShares are decreasing gradually and it seems really impossible to get Nubits peg back by just selling NuShares. Any plans other than just keep on selling NuShares?
I understand it seems hopeless, but we’ve backed almost the entire circulating supply via NuShare sales before. The buy walls for NuShares have in fact been increasing gradually and are higher than they’ve been for a long time.
We’re applying for listings on additional exchanges and pitching our liquidity model to investors.
Given the scale of money flowing into Nu during the massive crypto bull market, the opportunity that presented, and the very difficult situation Nu is now in, is there any thought on tweaking the liquidity model, particularly in keeping far higher reserves to build up resilience during the good times?
Also, is there any serious thought going into seeking additional revenue and Nubits demand generating activities (e.g. lending) that would ensure continued demand during tougher times?
Building off of this, I could easily propose tweaks to the model that would make for something far more stable.
- Increase reserve threshold to 100%.
- Increase the standard portion per day to 0.1%.
- Institute a maximum dilution of 0.5% per day.
- Make thorough and concrete bylaws for changing these numbers, including a minimum time of implementation such as a few months.
- Have an easily accessible resource to understand these numbers and report on any coming changes continuously with a timer.
Nu had done 3 already, I doubt it will ever do 1 even though it’s obvious it should, and the exact number for 2 and 3 is up for debate. 4 is mandatory in my opinion. 5 is referencing a much deeper problem of transparency in Nu, and cannot be the last step in the effort.
2018–03–28
0.5% of circulating NuShares: 0.005 * 3,142,272,895 = 15,711,364.475
15,711,364.475-5370485.8728
0.16079235
10,340,878.6022
3096.0591 USNBT
2018–03–29
0.5% of circulating NuShares: 0.005 * 3,158,041,868 = 15,790,209.34
15,790,209.34-2746756.5000
1096.5052 USNBT
13,043,452.84-2168065.6666
0.06491189
10,875,387.1734
0.32626161
2018–03–30
0.5% of circulating NuShares: 0.005 * 3,162,991,062 = 15,814,955.31
15,814,955.31-6913486.6870
0.27598639
8,901,468.623
3553.4662 USNBT
2018–03–31
0.5% of circulating NuShares: 0.005 * 3163891403.8430 = 15,819,457.019215
15,819,457.019215-1799999.92
0.08999999
14,019,457.099215-11463466.0000
5720.2695 USNBT
2,555,991.099215
0.10203516
2018–04–01
0.5% of circulating NuShares: 0.005 * 3167021009.4326 = 15,835,105.047163
15,835,105.047163-1890175.9108
0.07545583
13,944,929.136363-10892180.9
0.43568723
3,052,748.236363
0.09139929
Can you explain these numbers a bit, beyond the first line?
If you are selling 15 million NSR per day then why is the circulating NSR not increasing by 15 million per day but instead at a much slower rate?
Honestly, I don’t know. I’ve asked @woolly_sammoth to take a look at why the circulating supply isn’t increasing as I would expect. I know the amount of shares are sold and that we get the funds I list. Fortunately as the daily dilution is 0.5% of circulating supply, the numbers are not affected much, but it will be dealt with to operate correctly.
Numbers below the first calculation are:
<remaining_shares_to_sell> minus <amount_of_shares_sold>
<sales_proceeds>
sales_proceeds are in Bitcoin (BTC) unless stated otherwise.