Is it fair to say the B&C Exchange project is officially dead?

[Yurizhai]

No progress in months. I’m just curious as to why Jordan/Phenoix apparently lost all interest?

[Sentinelrv]

It seems he’s more interested in bringing Nu back from the dead first before he puts any attention toward B&C. I’d like to hear what he has to say about it though.

[dysconnect]

JL/bird brings it up every now and then but never really talked about development, on either Nu or BCE.

Direct shareholder control of reserves and automated NuShare sales

Although this is no longer being actively discussed, I would like to make clear I support the implementation as I described here: This will do much to secure our Nu reserves. However, before we can do it, we have to finish B&C Exchange. Once that is done, I plan to push this initiative forward to implementation, subject to all the proper approvals, of course.

[Phoenix]

No progress in months. I’m just curious as to why Jordan/Phenoix apparently lost all interest?

I can see why you would say there is no progress, but I would like to offer a different perspective. In late June, just before I became Chief of Liquidity Operations, B&C Exchange’s development fund was only worth around $20,000. Today it is worth around $120,000. That is tremendous progress. Because the fund consists mostly of NuShares, if NSR gets anywhere near its historical levels, there will be several times more funding for B&C. That is my plan and hope to restore adequate funding for B&C. Of course BlockShares can also be sold.

It seems he’s more interested in bringing Nu back from the dead first before he puts any attention toward B&C. I’d like to hear what he has to say about it though.

It is true I have been of the opinion that B&C Exchange cannot be successful if Nu lies in ruin, and Nu has needed some emergency attention in recent months. All this is certainly a setback for B&C Exchange, but it certainly isn’t dead. Hopefully it will be fully funded soon, with a strong Nu and good community to build upon.

The most important factor in the success of B&C Exchange in the coming months will be the NuShare price. These two projects are interdependent at this point: they fall or succeed together.

[Mark]

I feel like @sigmike have abandoned the B&C Exchange project and if he confirm, this project is dead.

[jooize]

Why would anyone want to declare the project dead? That benefits nobody.

[GreatScott]

Honesty.

[Cybnate]

Reality? Still hope as a major shareholder it is not true, but the evidence to the contrary is scarce.

[Yurizhai]

At least one person in the bitcointalk thread has asked. I’m just trying to get to the bottom of it. Like no more mincing words or naive hope of xyz, the project is essentially dead right?

[Sabreiib]

bitcointalk thread has asked. I’m just trying to get to the bottom of it. Like no more mincing words or naive hope of xyz, the project is essentially

B&C is suspended, not dead.

[sigmike]

I feel like @sigmike have abandoned the B&C Exchange project

I haven’t. I was waiting for the situation to settle, especially regarding the funds. The shareholders have decided to send the funds to Phoenix, and it seems B&C is not his priority right now.

[Phoenix]

The shareholders have decided to send the funds to Phoenix, and it seems B&C is not his priority right now.

As Chief of Liquidity Operations, I don’t control Nu core development, though I have attempted to facilitate it where practical.

I don’t intend to control B&C development either. I had mentioned when I received funds that I would honor the contracts of all existing contractors, specifically @Eleven and @sigmike. This means @sigmike can work on it now under the old terms and invoice me directly. He is similarly free to negotiate new terms either with me or shareholders.

I don’t view myself as blocking B&C development. That wouldn’t be acceptable. It is true that it isn’t my focus right now. I hope it never becomes my focus. I hope sigmike will take leadership of development and move it forward. If he doesn’t, we will see what happens in time. Remember, shareholders are free to act and are fundamentally responsible for what happens. I have funds basically because nobody else who was trustworthy was willing to handle them.

[Sabreiib]

Now, the RSOT motion is getting 43% support, this means quite some shareholders want to build a team to control the B&C dev fund.

[Yurizhai]

So who is Angela?

[sigmike]

@Phoenix how much money is available to finish B&C development?

[Phoenix]

@Phoenix how much money is available to finish B&C development?

B&C Exchange assets are:

224,000,000 NuShares
37,704 US NuBits

The current value of the portfolio is $140,072 US.

[GreatScott]

[Passed] B&C Exchange should trade all US-NBT for NSR

Total US-NBT proceeds from the NSR sales are 24,745.

B&C Exchange assets are:

224,000,000 NuShares
37,704 US NuBits

The current value of the portfolio is $140,072 US.

Looks like you made another NSR sale without telling anyone. Just pointing that out for those who didn’t notice. And we wonder why the NSR price is low? It’s because of @Phoenix’s actions mainly.

[Phoenix]

The entire balance has always been held at the highly published custodial grant address SSajkovCPXwdw46nyJ7vpTDkwtRZJzyY2z. Whenever funds are moved from that address, they are being sold. That is a well established pattern. Everything is transparent and proven, to the high standard only possible on blockchains.

However, market actions like this should not be publicized in advance because that puts shareholders at a trading disadvantage. The sale you are referring to was performed in the last 24 hours.

[ConfusedObserver]

The current value of the portfolio is $140,072 US.

This is supposing you could sell 224 million NSR without crashing the NSR price, which you can’t.

Did you push the NSR rate at Poloniex from 60 Satoshis to 70 Satoshis to make the books of B&C Exchange look better?
Or is this rather the market’s reaction to your overwhelming liquidity provision?
I bet you say it’s the latter.

Btw. at 60 Satoshis per NSR the total value of NBT and NSR is $122,000, but we both know you can’t liquidate the NSR assets in a short period at that rate.
It’s just a continued numbers game.

[GreatScott]

However, market actions like this should not be publicized in advance because that puts shareholders at a trading disadvantage. The sale you are referring to was performed in the last 24 hours.

You should, at the very least, announce after the fact. Start your own thread for reporting on the NBT->NSR->NBT merry-go-round. What is your US-NBT wallet address for B&C funds?