Chinese NuBits will be enabled in the protocol in just five days (November 28). After that, I will request a custodial grant of Chinese NuBits. So, in about two weeks I expect we will have Chinese NuBits in hand, ready to use in the new version of NuBot @woolly_sammoth has provided us with.
This means it is time to turn our attention to marketing of Chinese NuBits. I am hoping we can find a Mandarin speaker who can lead some marketing efforts. I would like this person to tell us what needs to be done, but an initial item that will be important is exchange support. We need someone to recruit exchanges to list it. We want those exchanges to list Chinese NuBits as the denominator of the trading pair, so the BTC price reads as somewhere around 5300 CN-NBT. We may be able to make deals with exchanges that if they list CN-NBT, we will provide a certain level of liquidity.
In attempting to recruit exchange partners, we can point out that there is about 2.5 times as much demand for bitCNY as bitUSD, so one might guess we will see more demand for Chinese NuBits than US NuBits over time. The monthly volume for US-NBT is 210,000 right now, but is up relative to what it was a few months ago. We hope to continue growing it back to the levels it was at earlier this year, and then exceed that.
Any Mandarin speakers here who are interested in helping? Perhaps we could set up an incentive structure. I certainly don’t expect this to be done for free. What would you suggest as compensation?
As an aside, once our Chinese NuBit deployment is out of beta I expect we will release European NuBits. If we can get Chinese NuBits listed on a couple exchanges quickly, it is possible we could see a launch of EU-NBT as early as January.
How much revenue do you (plan to) make from that?
Is 0.5% revenue from the spread (1% spread minus 0.5% exchange fee) realistic?
That makes monthly approx. $1,000 from the NBT volume (at $200,000 volume).
Even if the CN-NBT is double of that, it will make only $2,000.
What are the costs?
At what rate do you include exchange default, theft, etc.?
@Ben do you think these posts are anything but counterproductive and unrelated? I’m disappointed in the way you have let this forum become a super toxic environment of hostility created by people who obviously have a motive to see our project fail. If you have lost interest, that is OK, but you ought to allow someone else to moderate in that case. It isn’t really fair to the project and the people working on it to continue to maintain control as you neglect this.
Could we have a backup of the discourse database? Would you respond to shareholder motions to appoint moderators? The current state of this forum is simply an unworkable and unwelcoming environment. It must change or be abandoned.
Also, I still spend about 60% of my time on the forum merely trying to load pages. It is frequently denying me access. It may have to do with banned tor addresses. To post this I have had to restart my browser twice and re-log in each time. It is about the worst user experience I can imagine. We need and deserve something better.
What are you going to do about this toxic mess @Ben?
@Ben (who is the forum owner for those of you who didn’t know), another way of explaining the problem is by observing this thread was opened to solve the problem of a lack of marketing effort for Chinese NuBits. That’s a worthy and appropriate goal I’m after here. These posts are counterproductive to that goal. They distract attention and energy elsewhere. People who can offer solutions are less likely to do so because of the hostile tone and actors that would surround their work. It just feels bad, so people will avoid it.
Can we agree the posts of @sabreiib and @confusedobserver harm, or are counterproductive, to the goal of the thread: to arrange and coordinate marketing for Chinese NuBits? If we can agree on that, what benefit could occur from keeping the content that would outweigh the harm done to the important objective of this thread?
People should be able to find information about Nu if they make research before they buy CN-NBT.
The lack of revenue is a s serious problem for the sustainability.
Telling those people while simultaneously reminding the shareholders of this single most problem of Nu is a worthy and appropriate goal I’m after.
Releasing new products without an idea how to make revenue off it strikes me as odd.
Why is marketing more important than a business plan?
Even if you got your way and Ben let you take over the forum so you could ban all your detractors, what community would be left to help you with marketing NuBits? Nobody is left. The only one I still see helping you is Jooize. You need a lot more help than one person.
Maybe you should call up all those invisible shareholders who support all your motions, but don’t participate on the forum.
I have an idea:
After CH-NBT listed on btc38, Bter where CNY is supported, Nushareholders grant me 100K Chinese NBT for 3 months, and I trade on CN-NBT/CNY pair with spread of 1%-2%. I demand NONE reward for the LP, my compensation is the revenue from spread trade, and exchange default risk is taken by Nushareholders. After 3 month, I will return the 100K CN-NBT to shareholders (if I can buy back all of the sold CN-NBT).
If Nushareholders and I feel comfortable with this business, we can renew the contract.
Goodness: Nu pay nothing to LP, sustainable business model.
Risk: Nushareholders need to trust me and the exchange. This may be solved by B&C exchange accomplished in future,