Current Proof of Stake Difficulty

NuBits
#201

I will repeat the broken record and say dividends were my biggest motivator for becoming a shareholder by buying NuShares. I didn’t put an incredible amount of thought into the revenue side of Nu besides that it would be very slim (buy for $1, sell for $1). I also didn’t anticipate the first round of dividends, which in hindsight were also a huge mistake or calculated move to pump the NSR and PPC markets.

We drifted away from a business model with a break even profit model to one that lost 100% of our operating budget. Drastic changes are necessary, but voting seems to indicate we are more interested in tweaks or printing money out of thin air to keep things chugging along (NSR grants) than moving back to breaking even.

Just look at tether. Centralized solution, centralized profit. It’s a great product in that it is a $1 token with a blockchain. Have they figured out a way to make a profit off of tether yet? Does it even matter? They are a huge player now.

It wouldn’t even matter had Nu figured out a way to make a non-trivial profit because of BCexchange. When I supported BC exchange funding it was going forward with the impression that Nu was done perverting it’s business model, but it seems Nu did the opposite and became so heavily involved with the NSR market that NSR lost 90% of its lowest ICO cost.

Abolish everything would be a great start. Dilute NSR to support the peg, but only because it is our only hope. If we continue forward as if this is not a move of desperation and just ‘oh this is how our protocol works’ we will fail miserably. Only provide shareholder support to USD/NBT markets. This is a tl;dr of my vision.

Jordan admitting he is actually capable of making a mistake would be a move of honesty on his part, seeing how he is the majority stakeholder, instead of blaming shareholders other than himself.

4 Likes
#202

There is a scary comparison with what central banks are doing.
e.g. http://www.pbs.org/newshour/making-sense/column-the-monetary-bubble-to-end-all-bubbles-is-coming/

#203

It is almost as if this sort of thing is just human nature when looking at the entire history of money. I like to think that those of us who see that it’s unsustainable are sort of super-human, but I still can’t bring myself to call it anything more than common sense.

You can’t print money to pay the bills.

1 Like
#204

There is an anecdote about the boiled frog: https://en.wikipedia.org/wiki/Boiling_frog
Most humans have a distorted risk/reward perception between short and long term. It is a known fact in psychology, many profit models from large companies are built on it. A quick grab or opportunity right now with consequences only in time is far more attractive than a sustainable great opportunity only paying back over years to come.

It requires a lot of energy to be bothered, stepping out of silos and seeing a bigger picture to be somewhat rationale in risk assessments and future consequences. Only a minority is able to do that, most don’t care and are busy in their own world, sometimes for good reasons.

It works now :sunglasses:

#205

I agree. It is working. But until when?

#206

Difficulty again been close to all time high. Block explorer reports 0.000538 last Thursday. Currently a bit lower.
My client reports: 0.00050626 @ block 1477363 which is historically still quite high.

1 Like
#207

Difficulty climbing to healthy levels again:

“proof-of-stake” : 0.00035722 @ block 1,580,163
It is 4 months high since my previous post above in July.

Hope it is sustainable and decentralised.

1 Like