The first theft didn’t affect Nu or B&C Exchange at all. Those shares have not been restored either.
We have been working for Nu all year, many days for long hours, some when we had other plans, in the face of demoralizing setbacks and bad situations being exacerbated by people who were angry with us from the beginning for doing what should have already been done to avoid this situation!
Few seem to recognize how strictly we have followed the directives passed by shareholders, and barely anyone appears to understand the liquidity model. I aim to make it clear to customers what we’re selling. They should know exactly how our revenue is managed. Full backing of NuBits by design relies on investors purchasing new NuShares.
You are now strongly opposed to the liquidity model that had long been in place at the time available cryptoasset reserves (tier 1–4) began to diminish last year. Apparently, you didn’t see the huge gaping hole in the model excluding NuShare sales. Do people expect magical deep backing of NuBits?
What would you have done last year when the peg was abandoned? I still haven’t seen any alternative plan. I still haven’t seen the alternative narrative. I still haven’t seen much of substance from the people who stay around and actively slander and damage the prospects of this interesting and progressing endeavor!
Phoenix often did not communicate conducively with the community, and he’s not cheap at $90/hr. NuBits is healthy today thanks to him, and he brings extremely valuable expertise to the team. I remain shocked at the many in this community who do not realize what happened is that angry people went on a witch hunt and never considered why.
I stand by the payments I have approved and made on behalf of shareholders.