A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors. These schemes usually collapse on themselves when the new investments stop.
All else being equal, I don’t see a big difference between this definition and the high park rates being offered today. I do not condone this action.
A warning or notice would need to be made visible then to make sure potential parkers understand the whole situation and the risks involved. I think it would only be bad if we tried to hide these facts. They would need to decide for themselves based on the facts.
Also, @willy can probably edit the text on the page in case something needs to be added.
If we have to edit or add text and links to the site, what exactly should be done? Also, should APR be removed in the calculator to avoid confusion like I’ve said in other threads? We could just have the durations listed in the drop down menu
Who has access to the NuBits Twitter account? @tomjoad, @CoinGame? Please advertise the park rates to our followers. I just looked and there hasn’t been any tweets since January. People need to know.
Nobody is managing the social media accounts right now I believe. It was supposed to be put up to a vote who would continue to maintain the accounts. I suppose now is a good time to find a new curator for the accounts if @tomjoad is no longer maintaining them.
The difference is that our business plan which is still credible goes way beyond parking.
What if btc nosedives and nu got 1500 btc in its hand? Something doesn’t seem right if we only look at how many btc Nu has in hand. Nu’s pegging mechanism is designed to lose btc and gain btc in cycles. These tokens are like transmission fluid that keeps a machine running…
what is the point cutting it iin half. The token has no intrinsic value. Do you mean changing the peg to $0.5?
@mhps Yes, that’s what I mean. I don’t really want to debate this idea, and some people will think it is absurd no matter what I say. I was asked for an alternative, and I gave it. This discussion is off-topic in this thread, anyway. Perhaps time will show if I am crazy.
So that you suggest an overnight devaluation. Without border police and government control of the banks that Cyprus had, this will not help much I suspect. Plus I think the valuation of the pegging infrastructure has most Nu’s worth, and lifts it way above insolvent line. Another strange thing of the Nu machine, besides using money as its transmission fluid, is using money for feul, and produce money as product. We shouldn’t use how much fluid/fuel it has to calculate its valuation.
Wow, it’s only been two days since I wrote this. Things happen quicker than expected. Perhaps I already seem less crazy. I wonder how this idea will look two days from now. Maybe too optimistic instead of too harsh.
People’s metaphors here are also jacked up (or maybe spot on?). I mean, transmission fluid changes gears, if you’re trying to burn it for fuel, then the problem is, you put transmission fluid in your gas tank.
Liquid feul rocket engines often use the feul itself as the coolant and as the luricant of the turbopump. Since the feul tank can be highly presurized so the feul is also a hydralic fluid. Of course rocket engine is very specilized and cannot be a representative of all engines. But again Nu is also very specialized.
