It looks like they need a source for the number of NSR currently in existence in order to calculate market cap. Or can they take the max number of 700M?
From Jordan’s last post I think we are in the range of 65% distributed, or approximately 455M shares in the float. At about 5.6 tenths of a cent per share USD, this would yield a $2.5M market cap for NSR.
From the perspective of someone who watches coinmarketcap, we need to see higher daily trade volume. As NSR prices rise, market cap will increase exponentially, especially as more shares are put out there. However if daily trade volume stays very low, market cap isn’t taken very seriously.
From Jordan’s last post it looks like approximately 470M shares are actively held. We’ve been in contact with CMC to inform them of this number and hope they decide to use it. After that we will need to update them on a regular basis to increase that 470M figure as shares are sold.
You’re right. The problem (sort of) is that most people have been able to purchase NSR through Jordan at rates below BTER. Trading volume will likely remain low until one of the following occurs:
All shares are distributed
The price of undistributed NuShares rises to close to the market price
Stricter requirements are placed on evaluating potential NuShare holders
After more discussion, I think we arrived at the conclusion that we should list all 1b shares instead of just the ones sold. The rational is that although these shares are not voting they do share in the dividends. With that we consider them part of the share pool. So we instructed CMC to take the Shares Supply feed from our block explorer. This means that we will be listed between 4 and 5m with current prices on BTER. It usually takes a few days between request and actual listing.
If anything it would be NBT in the asset category, if you follow the logic they have applied to BTSX and BITUSD.
In my opinion you are right and it should be the other way around. NSR is the asset and NBT is the currency.