And I’d like to add here: the post I quoted above is so funny to read considering the current situation. It’s a joke in itself. Back then decentralized liquidity providers were to blame. Now it’s the lack of exchanges and @jooize “admits that marketing has been neglected”. The answer is so much simpler:
@jooize has no clue about finance.
Trying to build a low reserve system with such a small market is completely ridiculous and would only be done by those who would like to play the system. That’s why I wouldn’t say that @Phoenix has no clue about finance, but instead emphasize that @Phoenix does know a lot about finance! And he has anonymous, you know? (just saying…)
@jooize if you pitch the model to large investors, do you hide information about the inner workings of Nu? Do you tell them everything? Thefts, hacks, losses, anonymous payments to “contractors”, forum bans, low reserve despite calls for high reserve, peg breaks, no multisig at all for most of the tim for millions and millions of USD in assets, your knowledge about financial markets, @Phoenix arising from the ashes in a religious act after @JordanLee has been buried (my god now it gets ridiculous, I should stop, and I will).
Please pitch the whole story if you have enough time. I am sure you’ll find some “special (seed) investors” that will help Nu out, but only if there are “private Nushare sales off exchange”. Good luck!