Park Rate Voting

[nmei]

I agree with you reasoning and like it - under unstressed conditions.
As it stands with the 5% spread - there’s no break even guarantee.
That is why I called for 75%.

75% APR is 6.25% per month. Which will just make a little profit after spread.

[mhps]

As it stands with the 5% spread - there’s no break even guarantee.That is why I called for 75%.

Fine. It is jsut changing the “half” factor to something higher, in the same frame work.

[nmei]

Yes. Sorry - I was not as eloquent, nor did I explain myself as well as you.

[Sentinelrv]

That appears too gigantic to be true for averag users, i guess

75% is the APR, which isn’t actually what Nu will be paying out at the end of the park period. The actual percentage a parker would earn is much smaller than this. The percentages per park period are the rates we should be using for advertising, not APR, which looks scary to the average person. I explained this all here. Please check it out…

Why are tier 5 and 6 (park rates and NSR sales) only being partially utilised?

Good example So APR is a kind of financial measurement tool then, which is helpful to compare rates from various sources, correct? If so, then APR can be helpful to different people and we shouldn’t remove it completely. However, we should reduce its significance in our advertising. I agree with you and @cryptog here that we should mainly advertise interest rates for single park periods. In reality, NuShareholders are only going to pay out NuBits for single park periods. Advertising 50…

[mhps]

We need both talkers and doers.

[Sentinelrv]

Here are the park period percentages if APR was set to 75% for all durations…

5.7 Days per Park Period = 1.17% <-----> 64 Park Periods per Year = 75% APR
11.4 Days per Park Period = 2.34% <------> 32 Park Periods per Year = 75% APR
22.8 Days per Park Period = 4.69% <------> 16 Park Periods per Year = 75% APR
45.5 Days per Park Period = 9.37% <------> 8 Park Periods per Year = 75% APR
91.0 Days per Park Period = 18.75% <------> 4 Park Periods per Year = 75% APR

[crypto_coiner]

The percentages per park period are the rates we should be using for advertising,

Yes, APR should be a term that we use internally, not for marketing purpose

[Sentinelrv]

Yes, APR should be a term that we use internally, not for marketing purpose

Do you believe APR should be removed from the https://www.parkingyournubits.rocks/ calculator, so that it only uses the single park period percentages? That is a marketing website for parking rates and earnings, but I’m not sure if it should be removed entirely or if it has some use for people. We just don’t want those high numbers scaring people away if they’re visible on websites like this.

[crypto_coiner]

If people dont actually park for a 1y period, I believe it is a noisy info.

[nmei]

Sorry I guess I run in the world of finance too much where APR is just a term that I assume others understand.

[mhps]

Get NuBits' liquidity flowing

feedback from my bitcointalk advertizement of parking

As far as I understand that website, I’d need to BUY these whatevercoins using e.g. my BTC, then after a while I’d have a few more whatevercoins in my whatevercoin wallet. How is this BTC related or “lending BTC”? The return is denominated not in BTC but in whatevercoins, I need to use their client, their wallet and sell my BTC to get some…

The unique NBT/USD peg on SouthXchange is NOT broken. Fiat can exchange with Nubits at 0 spread. This solves the not-getting-my-type-of-currency problem above. Maybe we should advertize parking where fiat is (especially paypal)

[nmei]

I agree it is working at SX. As is the paypal withdrawal. But you do pay 5% fee.

[mhps]

you do pay 5% fee.

Ouch.

[nmei]

Exactly. So - in case of emergencies…it is acceptable.
That’s why I proposed the Tether gateway for Nu. Again - in better times.

And what’s up with the rate? Still hanging at 22%.
Come on Nu people. Restore BTC buys and park rates need to go hand in hand.

[mhps]

And what’s up with the rate? Still hanging at 22%. Come on Nu people. Restore BTC buys and park rates need to go hand in hand.

Right. @Cybnate are you still believing people will prefer longer rates after seeing Clayton’s reply here?

[Cybnate]

Right. @Cybnate are you still believing people will prefer longer rates after seeing Clayton’s reply here?

Not saying they will prefer that under these circumstances. Just advocating that longer park durations should have higher rates to offset exactly the risks he is describing. As NSR holder I’m trying to sell something Agree that the current situation is not very inviting to invest large amounts. But some people might be willing to bet when we accompany this with a clear plan going forward and a good quality peg (<=1% SAF) maintained. One way to do that is to commit a portion of the remaining reserve (e.g. 50%) to a peg to a fiat pair. Either NBT/Tether or maybe just the NBT/USD pair on Southexchange to make that statement. That will provide some certainties that people can redeem NBT later.
It’s is an unfortunate coincidence to have CCEDK off-line till the end of the month. I believe that would have mitigated the situation somewhat by moving reserves to the fiat pairs and show a more sustainable peg then the NBT/BTC pair.

[cryptog]

We are getting only 17 30 30 33 8 % for 11days to 6 month periods.
I am voting for 30 50 60 60 for 11days to 3 months.
We need to increase more.

[nmei]

I have seen the light! This will destroy us in the long run. It just increases Nu’s liability, which we can’t pay off now. We need to reduce our liability - reduce NBT and keep our BTC.

Get NuBits' liquidity flowing

I counter with this:

[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority

@creon you are brilliant. The only thing I would change is 0.25 guaranteed annual interest rate on protocol level so parking does not seem like a punishment.

We need to implement a way to reduce NBT liabilities - as in reduce NBT. This needs to be first priority.

1. Stop park rates
2. Stop diluting NSR
3. Pay hard BTC to make a hard fork
4. Wait

I’ve made a motion:

[Voting] Enable Dynamic Transaction Fee in NBT

It has been hashed: 07998c78c75eebeb3cee7756be32f1fa513a3a4e —Begin Motion— Nu needs a source of revenue to continue liquidity operations. One step can be accomplished by implementing a dynamic transaction fee based upon coin age. We set the fee to reduce NBT by X% every year. Where X% is a variable to be determined and voted on by shareholders in a manner similar to voting on park rates. This would generate a yearly revenue stream for Nu which would be less than X%, but greater than 0 becau…

I am voting for 0% park rates as soon as I get to my wallet.

[willy]

https://www.parkingyournubits.rocks/parkinglot/

Total due: 6061.9027 (103 TX)

[Cybnate]

I am voting for 0% park rates as soon as I get to my wallet.

I’m with you for the short term. I think I will keep the 3 month and 6 month park rates as there is still a lot of sell side.
Of course we can only pay for it if we have found a way to make profit, but that is the whole point. We don’t know that yet and have to keep those NBT away from the sell side. It is unfortunate that we can’t cap it though, that would help to cap the costs.