I am still available as a custodian

NuShares Grants
#1

(Note: I am posting this thread in response to the the call for a new custodian at Bitcoin.co.id)

I am still available as a custodian. I have not posted in a long time, but I still watch Nubits and the forum closely. Here is a quick history:

I was elected as a custodian in December under the terms of Jordan’s 1M NSR bounty offer. As part of the proposal I had acquired 20k USD value in BTC at a price average of around $325.

At the time of my election, no uncovered exchanges were available and dual-custodians weren’t quite yet implemented. As I waited for an open exchange, the BTC plummeted forcing me to transfer more and more USD savings into BTC in order to rebuild the required $20k value.

I distributed most of my BTC holdings among the multiple NBT supporting exchanges so that I could test the APIs and become familiar with the exchanges. I also wanted to be ready to start running the NuBot as soon as dual-custodians was fully supported.

In February, approximately half of my $20k BTC was lost between Bter and Excoin. I hope to recover at least some of the value eventually from Bter, but tragically it appears that I will never recover funds from Excoin.

I accept full responsibility for my decision to store BTC on exchanges; however the losses caused me to seriously re-consider the risk of even a 1 month custodial term on less-than-well-established exchanges.

I am far from being a wealthy man… perhaps it was foolish for me to even attempt to become a custodian in the first place. However, my excitement about cryptocurrency and the possibilities for NuBits remains as strong as ever, and even despite my heavy financial losses, I still want to do my part to support the project and especially to honor the NSR-holders who elected me.

I am willing to consider taking a close look at Bitcoin.co.id and setting up as a custodian there immediately. As long as the price of BTC does not drop too much further, I can once again acquire $20k USD value in a very short time.

I have not spoken to @JordanLee or any of the other team or custodians in a long time, so I have no sense of their opinions on whether my election and/or terms are still valid. However, considering the long delay since my election on 25 December 2014, I feel that my eligibility should be a topic for public discussion. I could request votes for a new proposal, but the election process takes time.

I am very open to comments and suggestions from NSR-holders. I will PM Jordan and request his input on this thread.

5 Likes
Nubits Custodian Urgency Needed in Bitcoin.co.id
#2

I am not sure if you can still claim the 1m nsr at this stage but your liquidity is more than welcome given the fact that there are too few lpcs and i m sure we can find a win win situation for both you and shareholders.

1 Like
#3

This is really a sad story and I am feeling a bit bad that I took bitcoin.co.id when I got elected - but to my defense, I really wasn’t aware of you looking for an exchange for a much longer time.

Being the one who now provided liquidity for 30 days on bitcoin.co.id, I can only recommend them to you. Their team is very supportive and security measures on the exchange are state of the art. The most recent version of the NuBot should also work out of the box there.

Due to the NSR reward you asked for it may be necessary to make a new proposal though, but I am confident that it will pass very quickly.

1 Like
#4

when will bittrex be available ? if I were a custodian I would ask for that spot for sure

#5

Bittrex will very likely be offering NuBits trading soon after the Nu source code is released. If someone is interested in providing liquidity on Bittrex, they should strongly consider submitting a custodial grant as soon as possible.

1 Like
#6

Thank you to give us good testimony and really thank you for your support so far :smiley:

#7

Hi @learnmore, welcome “back” in the forum and thanks for the support provided to the network.
We do have multiple-custodians now! I also suggest you to try joining one of the two available liquidity pools .

NuBot will support https://comkort.com/ exchange in the next upcoming release, which is far from being a major exchange but has a very nice responsive API and interface.

#8

@learnmore I would like to see you become a self funded LPC. Regarding the question of whether you should still be eligible for a 1 million NSR bonus, I would like shareholders to speak on the issue via motion. If they approve it and NSR grants are not yet permitted by protocol, I will pay the bonus.