You recognize this as pump&dump and don’t care?
There’s no reason for NSR rate to rise except pumping it.
Phoenix will try to tell it’s related to the NBT increase, but that’s only part of the pumping.
There’s no revenue - neither now nor planned for the future.
There’s no reason to buy NSR - unless you hope to stay ahead of the pump and dump before others do.
It’s a bit sad seeing this in the face of the potential Nu had and still might have.
This NSR rise is rather alarming than a reason to hope.
Cheap NSR from the recent selling-off will be sold with a gain after the market has been manipulated.
This is just another manipulation in a row that started with the NSR buybacks and had another important mile stone when tens of thousands of NBT were dumped to crush the peg (making cheap NSR available).
Phoenix might call that paranoid.
Others might recognize the pattern.
I really hope phoenix pump NSR and then dump some NSR for BTC in order to fund the B&C development.
I noticed the importance of revenue much earlier than you do. Please read the threads I posted from Sep 2014 when Nu was very fresh and good finance status. Furthermore, I’ve raised some ideas to collect revenue for Nu such as micropayment after cloning BTC lightning network.
Nearly all forum members understand the revenue for Nu, and even @Phoenix doesn’t deny the goodness of revenue, so you’d better do something rather than continuously declare Nu is hopeless. For example, I upload bcexchanged daemon for Mac OS although I am not a developer and I begin to learn C++ even I am not young.
I contribute as good and as much as I can.
If that isn’t welcome I can very well save my time.
Requests to do that raised by Phoenix won’t necessarily be followed
Can you please point me to your posts from 2014 regarding revenue?
I realize that your assessment was being ignored back then - otherwise Nu wouldn’t have come to this situation.
I pointed out revenue issue when Nu just released and get criticize from BM of bitshare community, in fact I asked Nu team about profit model before Nu launch when we translated the white paper into Chinese. At that time we promised to keep secret before the white paper revealed to the public, Aug. 2014? July? David was in charge of marketing at that time before tomjoad replaced him.
And I remembered David was upset due to BM’s comments on Nu. BM is a smart guy, also steemit developer.
On choosing a robust nbt price at a particular time …
On the candlestick chart of Poloniex, you can set the averaging period of SMA (simple moving average) shown on the plot by clicking on the setting cog at the upper left corner. If you choose the chart to be 1 hour per stick, and 48 as the averaging period for SMA, then the SMA curve shows the averaged price of previous 48hr.
That way you get a robust price at any given time displayed in the chart by placing the cursor on the curve and reading its price.
40 million NSR belonging to B&C have been exchanged for BTC. The BTC is in the process of being exchanged for US-NBT. I will give a US-NBT total when the exchange is complete.
This was prudent to do because a considerable gain (around 45% as a guess without seeing the final figures) could be secured when park rates and US-NBT appreciation are considered. It is better to have some B&C funds in stable US-NBT collecting 20% interest than all in the most volatile cryptoasset: NSR.
As a major NuShare holder, B&C has an interest in ensuring the value of NuShares, and by extension, the success of NuBits. This action has helped to establish the peg more firmly. It is a win for B&C and a win for Nu.
We passed a motion to transfer all B&C’s NBT to NSR, but not the motion for you to freely transfer among BTC, NBT, NSR etc. so if you like to do such a thing, you may draft a motion to pass.
First of all, let me report total funds under my control, which constitutes the complete B&C development fund:
49,108 US-NBT
196,000,000 NSR at SSajkovCPXwdw46nyJ7vpTDkwtRZJzyY2z
The original NSR were purchased for 53 satoshi. About a third of it was sold for US-NBT at various prices, all much higher than 53 satoshis. With NSR prices now at 37 satoshis, it is prudent to sell most of the US-NBT for NSR once again. The result will be more NSR in the fund. I plan to sell around 30,000 US-NBT for NSR very soon. Another 10,000 US-NBT will be parked soon. These actions are expected to have almost no impact on peg support for US-NBT or the NSR price. This is because it won’t change the quantity of funds in the network. It merely switches them from US-NBT to NSR.
I wish to draw attention to this trading pattern for a number of reasons. First, it shows that providing liquidity in NSR can be lucrative to those who are patient and simply sell on spikes while purchasing on dips. It is a good illustration of how we create win-win scenarios. B&C provides liquidity to NSR (which means peg support), and it gets more NSR.
We will see a continued pattern of NuShare holders selling NSR low and buying it high. While this may seem stupid, it isn’t, because it makes providing liquidity to NSR very profitable. There is a sort of arbitrage to be had there by players such as B&C. Competition for this arbitrage should continue to grow. That will take the form of even greater NSR liquidity and smaller differences between the shareholder buy and sell prices. NuShare holders selling low and buying high is generating NSR liquidity. NSR liquidity is the most important factor in peg strength. We have created a synergy between B&C and Nu in this way. I encourage everyone to do the same. Anyone can.
So while @jooize keeps selling granted NSR for BTC, which subsequently are being traded for NBT, you then take these NBT and buy NSR for a significantly higher price back?
It is stupid except for the person who knows exactly when the market actions are taking place. Why don’t you just stop posting and take all the money you have right now? I mean you know no one will come after you and you also know that you don’t have a voice here anymore. And that’s ok, you made good money from this, just let it go now.
Is that because you are alienating shareholders? Emotional people do sell low, yes. However typically shareholders don’t sell low and buy high with exceptions excluded. So I don’t believe that is a sustainable mode of operations.
Having all (or almost all) B&C funds in NSR is ridiculous, you are just gambling with development funds. Although I understand better as most that there is a strong relation between Nu surviving and B&C development, I don’t believe this is a good move. You should work much harder in regaining confidence to NBT holders instead of continuing to manipulate the markets and creating ever more NSR. That is a vicious downward circle in case you didn’t notice after creating 1.2 billion NSR and still going.
Any forecast when you think that will end?
Do you actually know how many NBT still to buy back assuming almost nothing is being sold?
