Park Rate Voting

[jooize]

I recommend shareholders set park rates to zero.

[Cybnate]

Park rates will pump much needed capital into circulation for a long period

We have park rates for 3 to 6 weeks. I think that is wrong for the current situation. One can argue about long term park rates, but I don’t like to take too much debt into the future. [quote=“excell, post:587, topic:161”]
the price to drop to .95 because we know we are going to make a guaranteed 5%.
[/quote]
Not going to happen with the highest % reserves we ever had since the start of this project.

[MaVo]

I completely disagree, park rates should be where they are if not higher

Where does the money come from to pay for (extraordinary high) park rates? Any idea?

[excell]

If there is no demand then reserves will be used… But I don’t know guys it seems every time I check Nubits on coinmarketcap we are slowly drifting away into nothingness, nonetheless I have full faith in the project, its incredible how much activity there is on this forum still even with situations like this and it is reassuring. I will buy some nubits and park them for a year, maybe like 500 dollars worth and see what happens, the interest I will use to buy nushares… That being said we really need some updates to the website, why is poloniex still on there? Why are some videos broken? Investors will only think that the project has been abandoned if they visit the main site which is not at all what we want.

[Cybnate]

That being said we really need some updates to the website, why is poloniex still on there? Why are some videos broken? Investors will only think that the project has been abandoned if they visit the main site which is not at all what we want.

Off-topic: We didn’t had easy access to do updates to the website before and a lack of time I suppose. It has only be handed over to us this week. Will have a look if I can do some basic maintenance over the weekend and submit a few pull-requests another team member can approve after review. BTW anyone can submit pull requests to the repo behind the website, only a few can accept them after having them reviewed.

[ConfusedObserver]

the highest % reserves we ever had since the start of this project.

Really? Didn’t this project start with more or less full reserve, were each NBT was backed by the equivalent of BTC?
At least until the first ridiculous dividend payouts happened.
The only way to bring the reserve to below 100% back then was loss from trading and other operational costs that couldn’t be covered by the dev fund…
But that’s still ignored by and large.
I’d say have a look at the books, but well, you know…

I have full faith in the project

Is this a kind of religious belief? The fundamentals of the project are a perfect match for the shape it is in.

I will buy some nubits and park them for a year, maybe like 500 dollars worth

Do you realize that Nu only works as long as NBT or NSR can be sold?
Nu has costs, but makes no revenue. The reserve can only cover half the NBT in circulation and the total buy side of the major NSR exchange has a total of less than 5 BTC.

Better buy any combination of shitcoins for you will have a better expectancy value.
Let’s see, e.g. where Spectrecoin goes within a year. It’s currently being traded at $0.17, so you get 2,941 XPEC for $500. This is just a random pick of a shitcoin. I’d recommend diversification otherwise, but I want the challenge
Let’s see what you get for 500 NBT in one year and what 2,941 XPEC are worth

Investors will only think that the project has been abandoned if they visit the main site which is not at all what we want.

Investors should have a look at numbers before they invest.

[MaVo]

Let’s see what you get for 500 NBT in one year and what 2,941 XPEC are worth

LOL

[Cybnate]

Really? Didn’t this project start with more or less full reserve, were each NBT was backed by the equivalent of BTC?

Stand corrected. Highest reserves since we paid dividends indeed.

[excell]

LOL Yes I believe nothing is created out of thin air, but wait, don’t most coins have thin air value? We supposedly have some type of reserve right? This still sounds safer that sh*t coins in my opinion, yes it is religious I am highly religious in investing that is why I always win (not )

[ConfusedObserver]

don’t most coins have thin air value

Most coins don’t operate in the costly business of providing a hedge for BTC.
As Nu has no re-insurance for BTC volatility and successful hedging, it can be expected that trading with a close spread leads to a loss.
A spread would need to be a function of trading volume and volatility to have a chance to make enough money to pay for the costs like costs from hedging, exchange default, opportunity costs.

Other coins just have a blockchain running, which provides incentive for processing transactions. The rewards for processing the tx are more or less created from thin air. But they follow protocol and you can make calculations about the ROI for providing efforts.

This still sounds safer that sh*t coins in my opinion,

Be careful. You can game the market of NSR.

• Buy NSR.
• Buy NBT.
  If the reserve threshold is 50%, buy at least as much NBT as are currently in circulation. Adjust the amount of NBT according to the reserve ratio, if it’s not 50%.
• Trigger NSR buybacks.
• Sell NSR.
• Dump all NBT, empty the reserve and trigger an NSR sale.
• Rinse and repeat.

The problem here is: this doesn’t follow a reliable protocol.
The reserve ratio etc. can be adjusted at the whim of the (Vice) Chief of Liquidity Operation.
If you have an appetite for risk, you may try
It’s less risky if you can take shortcuts.

For example if you can skip the “buy NSR” part, because you received a load of NSR as “angel investor”, although you might never have had to pay a single Dollar for them.
Ah, of course all I say is tinfoil hatter’s craziness. Don’t take it serious
But can you tell me the total amount of Nu’s dev fund? Did the seed investors really pay for the NSR they received? Or was that a farce to provide the base for a double-tracked project, one in which the architect couldn’t lose, but only win this way or another way?
It’s hard to tell, because little information about that is publicly available.

While I need to make an effort to think of such crazy stories it would be little effort to debunk all that, if only there was a public and complete accounting of this most transparent corporations that has ever been created.

[DavidMc0]

Be careful. You can game the market of NSR.

Buy NSR.
Buy NBT.
If the reserve threshold is 50%, buy at least as much NBT as are currently in circulation. Adjust the amount of NBT according to the reserve ratio, if it’s not 50%.
Trigger NSR buybacks.
Sell NSR.
Dump all NBT, empty the reserve and trigger an NSR sale.
Rinse and repeat.

This doesn’t work if others happen to buy NBT at the same time, or the reserve ratio is increased in response to rapid NBT sales.

Given this, the cost of trying it is very high & success a long way from guaranteed, so success would be very difficult and rinsing & repeating even more so.

[ConfusedObserver]

This doesn’t work if others happen to buy NBT at the same time, or the reserve ratio is increased in response to rapid NBT sales.

Right, but look at how stable the amount of NBT in circulation is unless an NSR buyback shall be triggered:

Source: http://coinmarketcap.com/currencies/nubits/ with charts set to 3m

Are you able to ignore how this (post from May 13)

Supply, Reserves, and Equilibrium

and if the trend continues, we will soon be performing NSR buybacks, which will start as soon as the deviation becomes positive.

was a direct consequence of the massive sale of NBT on May 4?

Given this, the cost of trying it is very high & success a long way from guaranteed

The real risk is that you don’t know what happens at Nu with regard to reserve ratio.
That’s why only people who are in control and knowledge can pull off these kinds of attacks:

Supply, Reserves, and Equilibrium

Basic frontrun: Requires Nu to be at or above equilibrium. 1. Buy y NSR 2. Buy x NBT 3. Wait for Nu to equilibrate, pumping NSR by $0.5x 4. Sell y NSR 5. Sell x NBT This attack results in Nu selling more NSR than it buys due to the frontrun, giving the attacker the difference. This is an extremely low difficulty attack, as it can be done with any amount of liquidity. All it requires is Nu to be at equilibrium or in a buyback phase. Collapsing NBT: Assume there are x circulating NBT. 1. …

Both happened before. More than once. You really don’t want to acknowledge the possibility and rather say

This doesn’t work if

while I say “This works if…” and even tell how.

[DavidMc0]

You really don’t want to acknowledge the possibility and rather say

DavidMc0:
This doesn’t work if

while I say “This works if…”

I do acknowledge the possibility, as I have a number of times recently in my calling for reserve ratios to be increased and pointing out this possible attack myself.

In this reply I was pointing out why it’s not as easy to game the system as your post made it appear.

That’s not to say it’s impossible. I think an attempt may have been in progress prior to the discussion about raising reserve ratios, and think we’re still in prime high-risk territory due to the recent dump in NSR following poloniex delisting and low NBT circulation.

So I agree that this is a valid attack vector, and we’re in a very high risk situation regarding it right now. But it is possible to reduce the risk and make the risk not likely to be worthwhile to an attacker.

[ConfusedObserver]

I do acknowledge the possibility, as I have a number of times recently in my calling for reserve ratios to be increased and pointing out this possible attack myself.

I beg your pardon for having ignored that.

So I agree that this is a valid attack vector

It is and Nu would be well advised to keep the reserve rate as close to 100% as possible, while evading risks of holding reserve as good as possible.
If Nu manages to make a profit if these objectives have been achieved, then Nu has a future. If not, then game over.

[DavidMc0]

It is and Nu would be well advised to keep the reserve rate as close to 100% as possible, while evading risks of holding reserve as good as possible.

Agreed. Even 70-80% reserves would make an attack a fair bit more expensive than 50%.

If Nu manages to make a profit if these objectives have been achieved, then Nu has a future. If not, then game over.

Again, agreed. Revenue models must be developed if Nu has a bright future.

[ConfusedObserver]

Even 70-80% reserves would make an attack a fair bit more expensive than 50%

Of course!
If you have 50% reserve an attacker needs to inflate the NBT supply by factor 2 with his buys (buying the amount of NBT in circulation) to be in control of depleting the reserve after the reserve has been wasted on NSR buybacks until it reached 50% again.

At 80% reserve the attacker needs to inflate the NBT supply by factor 5 (buying four times the amount of NBT in circulation).
Way more risky. Way more costly. Basic math. Nu lacks it way too often.

Low reserve ratios are an invitation to attack, especially if the total amount of NBT in circulation is low.

[jooize]

That being said we really need some updates to the website, why is poloniex still on there? Why are some videos broken? Investors will only think that the project has been abandoned if they visit the main site which is not at all what we want.

That’s one of my top priorities, but just as has been all year other more important tasks appear. We have a developer working with us on the website now.

We didn’t had easy access to do updates to the website before

We did have access. I’ve made a few minor changes.

[jooize]

Right, but look at how stable the amount of NBT in circulation is unless an NSR buyback shall be triggered:

You are now directly spreading misinformation. For NuShare buybacks the NuBits in circulation has always been determined independently of what’s displayed at CoinMarketCap. I have contacted them a few times to update their data.

was a direct consequence of the massive sale of NBT on May 4?

You don’t know what you’re talking about.

That rise reflects them simply updating their supply figure. Circulating US NuBits was 133,855 US-NBT on January 27 and have not dipped below that in any supply count since. The 24h volume on May 4 was only $1,050.

Administrators @Cybnate and @woolly_sammoth: Where will the line be drawn?

[DavidMc0]

You don’t know what you’re talking about.

That rise reflects them simply updating their supply figure. Circulating US NuBits was 133,855 US-NBT on January 27 and have not dipped below that in any supply count since. The 24h volume on May 4 was only $1,050.

I know there’s a lot to do, but has any progress been made with any kind of live view of the amount of NBT in circulation, or a historical chart? I seem to remember there was talk of this being considered / worked on, but wanted to ask in case it’s already available.

[jooize]

Yes. @woolly_sammoth will be able to give a more detailed report.