Disagree LPC's Proposal - Nubits is a business!

[lg15x]

There is no such pair afaik

We can contact them to add this pair.

[desrever]

Sure. I still do not understand if your proposal is just to stimulate reflections or you are serious about it.

[lg15x]

I feel my proposal is profitable.

Custodial who provide service for BTC/NBT pair may have risk, the risk or lost should be taken by NSR holders. My proposal is to provide CNY/NBT pair which won’t have stability problem.

[mhps]

You propose to get 20,000 NBT from where? Since most of proposal are with the custodians’ ownNubits thus the fee for the risk they take

I think lg15x meant to get it from a custodian grant generated by a custidian vote. If he promises dividends to the shareholders via spread revenue, and that the risk of losing the grant (due to unexpect events or due to running away with the fund ) is comparable to that of other custodians, then the shareholders will be more interested.

kudo to lg15x if this is a serious offer. Then he should be talking to the shareholders via a formal proposal than to Jordan.

[Ben]

That’s all well and good, but what is the specified timeframe of operations for this grant that pays out dividends from spread profits?

Hint: “Indefinite” isn’t an answer, so how does this grant reach an end-of-operations state?

[Sabreiib]

As a NSR holder, I feel responsible for providing NBT liquidity, if there is no LPC, the NSR price will drop.

May I pledge my NSR to get some NBT and use Nubot on USD/NBT pair?

[lg15x]

@mhps @Ben

It seems you don’t understand my proposal. We must have our custodian or LPC earn profit, or else who would provide service? My point is we need to let custidian and LPC earn profit from users and customers instead of shareholders. So in my proposal, the profits from price spread belong to me, but I won’t ask for any reward from shareholders. Dividends will be paid like other custodian, but they are from selling the Nubits.

If he promises dividends to the shareholders via spread revenue, and that the risk of losing the grant (due to unexpect events or due to running away with the fund ) is comparable to that of other custodians, then the shareholders will be more interested.

My whole point in my proposal is to let custodian, LPC and NSR holders earn from customers and users. Currently I think price spread is good for custodian and LPC to earn profits. And transaction fees, loan, or 5% NBT selling is profits for NSR holders. This mode can make Nu system last long enough.

So we’d better discuss more about how to make the cake bigger instead of cutting it when it’s small.

[lg15x]

I think both Jordan’s and LG’s arguments are well grounded. I am more inclined to Jordan’s proposal. Vote to express your opinion.

This is not argument, it’s a discussion.

[Ben]

You are right, I’m not understanding your proposal. Here is what I interpret what you’ve written to mean:

• You are asking shareholders to vote to issue you a grant of 20,000 NBT.
• There is no custodial fee for this grant.
• The 20,000 NBT would be placed on BTER’s (not yet established) NBT/CNY trading pair. The rate would be based on a fluctuating exchange rate between 1 USD (a proxy for NuBits) and 1 CNY, plus exchange commission, plus an additional profit spread to be collected by the custodian.
• Dividends would be paid out to shareholders at some rate.
• While you don’t explicitly call it out, I interpreted your proposal to mean that as grant NBT are sold for CNY, that those funds (minus what ever percentage dividends come to, exchange commission, and custodian profit spread), will be moved to support the buy-side.
• You don’t plan on reporting numbers.
• You don’t plan on using NuBot to automate your trading.

Did I miss anything?

[Sabreiib]

@JordanLee I would like to be a custodial, if you and your team agree. Here are my proposal:
•I want to get 20,000 NBT granted, and I will help for CNY/NBT pair on Bter.
•My custodial service is free of charge, I don’t need any reward for my service. I expect to earn profit from price spread.
•I don’t need Nubot, I will change the price manually. Since CNY/USD won’t change too quick, I can take the risk.
•I won’t generate any report of my trading. But I will make sure the buy wall plus sell wall equal to 20,000 NBT on bter’s CNY/NBT pair.

Lg15x, why would I vote for you? Your proposal is to get 20000NBT($) without anything pledged. What if you run off?

As a NSR holder, there are two ways to get revenue.
1)get dividend
2)NSR price goes up
I prefer the 2nd way which is more prominent, NSR price can be 10X if our Nu system booming while dividend, such a small income, I don’t care about it at all.

My plan is to work hard(liquidity providing) to become rich (NSR price go up). Does this logic make sense? Will Jordan set a gentleman’s agreement with me?

1. I send my 5 million NSR directly to Jordan

2. Jordan send me 9000NBT to me

3. I use these 9000NBT to provide 100% reserve liquidity with NuBot on NBT/EUR pair(CCEDK) or NBT/CNY(bter). I dislike BTC or PPC pair for their risk.

4. The period is one month. After that both can renew this agreement, or either side can cancel it and then Jordan return my NSR and I give back NBT to him. Jordan can control NBT circulation by signing or refusing this type agreement. Yes, no need to pay interest to anyone.

5. My service is free because I will not make profit by 1.002selling/0.998buying wall and will NOT distribute dividend to shareholders, my behavior is to indirectly benefit all shareholders including myself, this is self-defence within my own ability because I hate to see NSR become shit.

6. I hope sign this kind of contract with Nu protocol automatically in future so that jordan and I can save time. I also hope this kind of small LPCs become popular then Nu system get decentralized.

Let community decide which solution is more welcomed. Mine or lg15x’s?

[lg15x]

Yes, you are right.

I will keep the buy wall plus sell wall equal to 20,000 NBT. If I distribute dividends, the buy wall plus sell wall will equal to 20,000 NBT minus dividends.

I don’t have plan to call it out. If I have to in the future, I will distribute all NBT as dividends. I suggest make NBT/NSR convert function in Nu system asap, because it means NSR holders get profits and also take the loss.

[lg15x]

Sabreiib, are you kidding me? Your proposal copy mine, just change a little that you give Jordan NSR for backup.

Should I ask you for licensing fees? But I agree with your proposal, because it’s actually mine.

And I still insist that we should have custodial or LPC earn profits. Business is to make money, Nubits is a business, not a game.

[Sabreiib]

lg15x, I am not copying yours, I give my 18000$ value (bter price today) NSR to Jordan in advance while you don’t, this is the biggest difference.

If I am both NSR holder and LPC at the same time, my way to make money is let NSR price go up by providing good liquidity, this is my business, to earn 2times even 4 times money via NSR value. My “require rate” is obviously greater than yours.

[Sabreiib]

I would also remind all NSR holders that if iphone6/6+ is of very good quality and popular/more buyers, the apple share price will probably go up although some speculating noise inevitable while I am pretty sure share trend is upwards.

So is Nu.

[lg15x]

I agree with your proposal and thanks you for your free of charge service.

But we still need to have custodial earn profits, or else I don’t know who can provide service except you.

[Sabreiib]

My proposal is up to Jordan. If he agrees, he may give me small revenue by a price spread like 1.003/0.997 walls.I believe if more volunteers join me then liquidity is out of question.

NSR holders, when you bought cheap NSR from Jordan and value nearly doubled now, don’t you feel grateful in this bear market? Aren’t you worried about absence of LPC which may lead to NSR Price dropping?

I believe there are at least two types of LPC,

1. NSR holders, should take the responsibility of liquidity.

2)none NSR holders, with their own BTC or USD to provide liquidity and get commission.

[mhps]

My proposal is up to Jordan. If he agrees, he may give me small revenue by a price spread like 1.003/0.997 walls.

Why do you have to ask Jordan? Nu has a custodian vote mechanism to shift the power and responsibilities of decision making from a dictator or a centralized entity to anonymous shareholders. I hope you will put forward a formal custodian proposal for the shareholders to vote, or a draft proposal for discussion.

[Sabreiib]

Because I am going to pledge my 5 million NSR to Jordan. It is impossible for protocol to keep my NSR and I won’t let other NSR holders keep that.

I am for 100% even 120% reserve, and won’t distribute dividend to other NSR holders then I don’t hope to be elected by them.

[Chronos]

I think Sabreiib’s proposal is very intriguing. It would be good to hear @JordanLee’s thoughts on it.

[Raythma]

Actually since many visions, suggestions and white papers have been shared on the forum recently distributed in posts and discussions, I suggest to create a think-tank category in the forum to store and discuss all these ideas and references, until Nu is well established and ready for a next evolution.