I just took a brief look at about a dozen crypto specific forums to determine the level of coordination that supports each coin. Of those I looked at, only Bitcoin, Ethereum and Litecoin have more active forums than our own. There is an incredible amount of work going on here. Discussions here tend to be much more focused and result oriented than on other forums. It is a truly outstanding community.
With community engagement approaching that of Litecoin, why is our market cap typically only 1% of Litecoin’s market cap? The short answer is network use, or transaction counts. However, the question deserves more exploration by the community: why hasn’t the hard work and keen engagement of so many capable people not led to greater adoption and market cap?
Are we indeed the fourth most active community behind Bitcoin, Ethereum and Litecoin? What coin, if any, have I overlooked?
To be honest, the longer I am in the crypto community, the more I realise it is mostly hype and scams. We are truly different. We want to create something very useful. Is our lack of market cap success a result of our lack of hype?
I would love to see a discussion of why our forum is so remarkably active but our market cap so low.
My view: People are truly, authentically, absolutely empowered in getting their ideas through, through the invention of motions and grants.
However: there is an issue of public awareness and perception
all members hide under their anonymity, except 2 or 3 –
we are dealing with the most difficult, mistaken, unpopular business: money issuance
In regards to the NuShares market cap being so low, One major reason has been outlined by @tomjoad in his Restricted Network Access motion here…
Basically, with the current tier 6, (NSR Sales) there is no perceived scarcity, since unlimited amounts of NuShares can always be printed in the event of a catastrophic emergency, devaluing the equity of all shareholders. Until we abandon the current tier 6, potential shareholders will be fearful of NSR dilution. I believe along with @tomjoad that recent events have proven the ineffectiveness of the current tier 6. NSR sales cannot be relied on in an emergency situation because the share price crashes to nothing, not to mention the NuShares market is extremely illiquid. They are not good for storing value.
Instead, I believe we need to increase our tier 4 reserve requirements in addition to using tier 5 interest rates. The current tier 6 should be replaced by Restricted Network Access, but it should only be used in the absolute worst case scenario as a last line of defense. The reserves and interest rates should be used as much as possible before activating RNA. This should help bring back scarcity to NuShares. It’s only one aspect though, as selling more NuBits is the best solution to increasing the NSR market cap.
RNA couldn’t support the peg as market aware offsets can.
RNA needs manual intervention, whereas market awareness is, well, market aware.
RNA undermines the confidence in NBT as a currency that can be transferred.
Partly it. It started from the Peercoin community. Long on technology and ideology and short on PR and flexibility. We should adjust our acceptance level on making bold statements (hype if you will). In a noisy room you need to speak louder to make yourself heard.
Is this the ultimate reason Nubits don’t get listed on most of the big exchanges?
If NSR price has no role in defending the peg, it has no use to make our product better. Hence there should be no connection between it (NSR price) and the performance of Nubits. Therefore it will not reflect how Nu grow. So why do we want it?
Put it in a hard question: if NSR doesn’t support the peg, does it want to receive buyback and dividends?
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
This is what Satoshi left in Genesis block.
I understand Satoshi hate central banks very very much! In the central bank hostile cryptoworld, hugging USD is not welcomed, natually. It seems we are selling Sumsang phones in the meeting of Apple fans.
Tier 6 needs to be used countercyclical, if it shall be effective: sell NSR when Nu is in good shape.
But why do that and how to store the proceeds?
Tier 6 will give us some work. Simply giving it up isn’t the best idea.
NuShares do support the peg, but shouldn’t do so in a tier 6 way through NSR sales. Rather, NuShares are the mechanism that give shareholders control over the network and its liquidity operations, which provide peg support. Buybacks and dividends are not important for holding value in NuShares, (as they do this job quite poorly as we’ve seen recently) rather they’re important for two reasons, making NuShares an attractive purchase for investors and giving shareholders the financial motivation to continue investing their energy into expanding and improving the network.
Without buybacks and dividends, we need to rely on convincing many shareholders to work for free because of the potential rewards that could come in the future. As a motivational tool, small occasional buybacks and dividends to shareholders now is a much better way of getting shareholders to contribute to the success of the network as opposed to getting people to work for free for a potential reward that could come years from now or not at all. I’m talking about regular shareholders here and not paid contractors. Buybacks and dividends should only be used in the event we have a surplus over our reserve requirements, but I believe they could act as a great motivational tool to inspire people to promote NuBits adoption if used correctly.
Don’t forget also about Storj slack community!
Storj has a lot of hype, advertisement, presentations. The CEO and dev team are not anonymous.
It is very transparent in all its processes. People trust it and find it useful. I follow it since its birth
I would add maidsafe also (but not sure about it)
As I said, they should only be used when our reserve requirements have been met and we have a surplus. They would never happen in situations like we find ourselves in right now.
They would act as a motivational tool to get people to promote NuBits adoption and use, which equals transaction fees burned and final revenue. No dividends/buybacks means a lack of incentive for people to buy NuShares and promote the sale and use of NuBits.
Of course, it is said Chinese prime minister planned to make an artificial bull share market and sell state owned companies share to eliminate the debts(NSR-NBT shift). But, the plan was heavily hammered by free market in reality.
But we should be at least as clever as prime minister. LOL
BTW, why not contact websites, and share 1% revenue of customers paying the content online at those websites? If youtube is unreachable, there are milllions of websites!
Why would Nu arrange dividend and share buy back at all? Are we as rich as Apple inc with billions of cash? I totally disagree with these naive behavior!
Are you pretending to be a success/profitable company? A Ponzi?
Do you have basic knowledge of accounting? Selling NBT is of zero profit, unless you have 1000 nuclear warhead and charge seigniorage!
Exchanges are interested in making money out of trade volume –
With NuBits, they have bots making the market and artificially “fixing” the price.
I believe they dont like the non-market based economics
Yeah, B&C has the potential to solve Nu’s problems.
Nu’s “Seven Deadly Sins”
Charge seigniorage without a single AK47. Directly keep proceed NBT sale as profit, while ignoring basic accounting rules.
In fact, The real revenue of Nu are transaction fee destroyed within network and premium of BTC holding. Either small or unstable.
Distribution of dividends without sufficient revenue
Buy back shares without sufficient revenue
Hug FED, central banks, Judas of cryptoworld.
Want to achieve impossible trinity at same time. i.e. strict peg; free capital flow and independant monetary police.
Plan to sell NSR for BTC when company in danger to maintain peg, “Crime Inducing”. Even myself want to push NBT price to 0.5$ and buy NSR like water. Salute that guy with 12,000NBT in hands without doing such bad things!
Focus on cryptos arbitrage while ignoring the real future: online content comsumption payments.
I’m not curious about how small market cap of Nu, I wonder why Nu still alive.
Hope B&C will change these, otherwise my limited patience will gone.
Salute that guy with 12,000NBT in hands without doing such bad things!