[Draft] 1k USD shareholder pledge to buy NuShares

[Dhume]

As part of my plan to get Nu going again I propose a Shareholder pledge to buy additional NuShares. The goal is to raise a much funds as possible and sell NSR to pledgers at a price of 100 satoshi each. Anyone can pledge to buy 1k USD worth of NuShares at a pre-established price of 100 satoshi. For many of us this should be a relatively small investment to protect our larger ongoing Nu investment/involvement.

This draft is to establish a directive on how to execute the pledge. I propose we vote in this pledge + an auctioneer who creates a new forum account dedicated to this specific pledge. Shareholders can then in private or in this topic pledge 1k USD and contact the auctioneer account to make the trade happen. We will use Bitfinex price to determine traded BTC worth next to accepting Nubits. We also need to agree if it is also possible to make “multiple” pledges for larger amounts.

[ChrisS]

I am in.

[teek]

i’m in (provided this turns into something significant, if it ends up being just a couple of us i will withdraw)

[Dhume]

Obviously I am in aswell.

[Sentinelrv]

I get paid tonight, but I probably won’t have enough to do exactly $1,000. I will do as much as allows though.

Also, I am unfamiliar how measuring in satoshis works. I can understand if I look at the CMC price and NuShares are at $ 0.001135. What would the price be in dollars per share?

[nmei]

100 sat = 0.000001 BTC
@ near $575 per BTC

1 NSR ~ $0.000575
$1000 ~ 1739130 NSR

[Sentinelrv]

Thanks.

[Sentinelrv]

I may be able to contribute about $3,000 to this. I’m not going to get diluted, so I’ll do what I have to do to stay in this. I still believe in Nu, even with all the problems we’ve had recently. We’ve just made mistakes, but we can learn from them going forward.

Who else is willing to throw in their support?

[cryptog]

I do not think i can put 1000 usd as this stage but i d be ok with dilution. I do not think we can avoid it at this stage (assuming that you do not buy new shares).
However i have some nubits that i d like to convert to nushares.

[nmei]

Notion: I’f we’re willing to throw money at this. Should we not put our money into the current market. Buy the low NBT to get it off market and then burn that for NSR though this?

[crypto_coiner]

Before pledging more money (new capital infusion?) in a second round like this, you have to have a solid roadmap to success and a convincing explanation why and how this new money will help the org achieve its goal.
Also, from the point of view of round investment, 1739130 NSR for $1000 for anyone and several slots is not acceptable for early investors that joined and pledged money in 2014 at $0.002 for slots of between 1m and 5m.

[Dhume]

Notion: I’f we’re willing to throw money at this. Should we not put our money into the current market. Buy the low NBT to get it off market and then burn that for NSR though this?

Yes! We still take 1000 NBT as 1000 USD so if you can use for example 1000 USD worth of bitcoin to buy 1500 NBT you will make a profit since you’ll be able to buy 1500 USD worth of NSR at 100 satoshi a piece instead of the 1000 you start with. This should already incentivize people to buy up NBT below 1 USD.

Before pledging more money (new capital infusion?) in a second round like this, you have to have a solid roadmap to success and a convincing explanation why and how this new money will help the org achieve its goal.
Also, from the point of view of round investment, 1739130 NSR for $1000 for anyone and several slots is not acceptable for early investors that joined and pledged money in 2014 at $0.002 for slots of between 1m and 5m.

The goal is to get our peg reinstated and get Nu running again with the expectation that the halving won’t last forever and B&C coming out soon which I suspect will both have a positive effect on Nubit demand. I understand that an early investor might not be happy with the low prices but you have no choice really it’s do or die. Either dilute heavily at cheap prices to get Nu started again or accept that your investment has failed and has no value anymore, what do you prefer?

[MaVo]

What about parking rates, do we expect them to ever work again? If not, T5 has no function anymore and we must evaluate what role it would have played in restoring the peg because then it is not part of the equation anymore.
Simple question: at this point in time, who in this forum would consider parking Nubits for 45 days or longer? I think that your own point of view on this question should serve as an indicator of how the market might react to T5 in the near future.
We must clearly separate desperate action from elaborate high risk action!!! As you can already see, people like @Sentinelrv would almost sell their house to save Nu, but that is more driven by desperation than by consciously and reasoned risk-taking propensity.

[Dhume]

Parking rates are only a temporary measure to be used to decrease immediate selling pressure and increase temporary demand, they are a buffer zone to give us more time to use T6 (sell NSR).

[MaVo]

I seriously want to know the address of the NBT funds from BCExchange. If we all within the community raise money to build a buywall and those BCEx funds get dumped right away (if part of it hasn’t already been dumped), we will fail at restoring trust within the market because BCExchange isn’t the market, it is just a part of it that mostly comprises the same people that are already part of the Nu community.
@JordanLee would you mind establishing some transparency about the situation?

[crypto_coiner]

I have no issue with dilution if the operation increases the valuation of my current holdings

[MaVo]

Nobody can guarantee that. Could you please tell me who would have issues with the operation increasing the value of his or her holdings?

[nmei]

Well there is basically no value now…so how about a possibility of value later…

And yes, we need a clear plan forward before I start throwing BTC. Though I would debt swap NBT for NSR.

[crypto_coiner]

There are intengible assets that are hard to value to value i agree : dac members, the unique working secure voting system, etc…

[mhps]

not acceptable for early investors that joined and pledged money in 2014 at $0.002 for slots of between 1m and 5m.

they should have shouted UNACCEPTABLE to buyback, 15% reserve, and many other things, when their 1st round investment were spent.
Anyway this will be voted on, when shareholder can air unaaceptable.

Before pledging more money (new capital infusion?) in a second round like this, you have to have a solid roadmap

yes. for example how many pledges are needed to be effective?