I came here with clear intentions to attack this project, just to let people know. If you don’t wanna hear things that are going to hurt you feelings for your beloved ponzi then please don’t read the rest.
I am really against the FED and the ECB, so there is no reason for me to support you anymore. I did hold some Nubits and NuShares a few times just for fun or short term speculation but nothing more. I’ve been on the forums before and there are quite a few bright people, however the goals of this project are quite bad. I also did support the project a bit and did make positive commends about some features etc that you created, but…
This is a ponzi like project, where people claim to create tokens whose value is equal to the value of another speculative token, the USD. Creating money out of thin air pretending to have the same value as the money the FED creates out of thin air. Really? The only way I see this project succeeding is by the FED hiring you to help them do their job better in scamming people.
I bought NuShares when I heard about the buybacks and sold after they went up by 50%. You spend more than 300.000$ to buyback Shares at a really high price, in an illiquid market. Clever move. Even a child could see that didn’t make sense. If you had kept that money or used them more wisely, then you wouldn’t have had that problem now and your ponzi scheme would be still alive. Selling your own product, to buy back your own shares, without hedging against other currencies or developing your product appropriately.
The interest. Oh my days… 30% APR for 3 months. I once parked my coins for 18% 1.5 years ago, just for the lolz, even if I knew that it was a bad idea. How long is this going to be sustainable for? At some point people will want cash or BTC so they will stop buying Nubits. This is a hyper-inflationary model over a currency whose supply is not controlled by you.
Not enough mechanisms, spent too much on unnecessary things, distributed more Nubits than necessary and most importantly, the foundation of the project was based on moving sand all along.
If you had a better idea like the MakerDAO one or some collateralized token, then you might have had some luck. You made it thus far and it is impressive, but many of the mechanisms are broken, and the mistakes due to the human nature, the egos, personal interests etc will take your beautiful DAO down.
Let’s see what are you gonna do when BTC goes to 700 and above.