I beg to differ.
We are here talking about B&C funds and I’m not aware of any motion granting him discretion about development fund usage.
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Well, the deception of the initial distribution and the buyback event decisively helped to finally put the Chief Bird in an incontestable position regarding major decisions for both Nu and B&C. You ask for motions. I’d like to ask you for your opinion on the meaningfulness of motions within both networks (that actually have been merged to one network because in terms of assets B&C literally is Nu, and Nu is compromised and bankrupt)?
I tend to agree regarding Nu, but don’t recognize Phoenix in that position at B&C.
Either this motion passing
and seeing this motion in addition
is a trick or shows that B&C isn’t in the hands of Phoenix.
What I was trying to highlight with my question for the motion is this:
there was a motion that empowered Phoenix to trade NBT for NSR: [Passed] B&C Exchange should trade all US-NBT for NSR
There’s no motion that I’m aware of that allows any of what happened (or is announced to happen) to the B&C dev fund NSR afterwards, e.g. this:
or that
Phoenix is in the position (not by right, but by power) to play games with the B&C dev funds, but he shouldn’t think he can do so unnoticed.
I’m looking forward to seeing the dev funds in the hands of RSOT and at the same time wonder if that will ever happen…
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The truth is that there is no way to put pressure on @Phoenix to comply with anything as long as there are little birds intentionally failing to see the facts. It doesn’t matter whether we complain or not, there will always be someone like @jooize who values a bonus higher than his integrity (or what is left of it) and who is willing to keep the system running.
This is music to my ears! 
"Our governance model is absolutely superb. The governance model of Peershares (B&C Exchange is a Peershare) is better than all other blockchain governance models. All shareholders are true peers and there is no authority in our system other than the collective will of shareholders. Shareholders can choose to compensate developers or any one else with grants of BlockShares or BlockCredits in any amount. Shareholders can pass motions that set various rules of operation. For example, a completely decentralised vote to halt BlockShare sales was passed by shareholders some time ago. B&C Exchange’s governance is decentralised, flexible and powerful.
Peershares such as NuBits and B&C Exchange are the most advanced form of decentralised blockchain governance to date. The work I have already done establishes me as the leading innovator in decentralised blockchain governance." --> said the Chief Bird!
Particularly when you consider the RSOT motion and the Re-evaluation of RSOT motion. Everything is so hilarious.
@Phoenix, just in case you have overlooked that question:
What motion empowers you to do that?
And what motion empowered you to do that:
This motion is potentially going to pass as it has the majority of votes for more than a day by now, although the SDD is very high so it may change. Anyway it likely means that there is a majority of shares controlled by Phoenix or in his hands. Not so great.
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Game over then.
I agree it would spell the end of hope
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I voted for phoenix’s motion of transfering NBT to NSR of dev fund.
But I am disappointed that he transfered NSR back to NBT again without motions, so I would not support him holding B&C fund.
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In case anyone is confused, JL just activated his BKS, giving him a disproportionate vote like explained here:
Now, after my motion reinstating rsot gains back the proper sdd portion of the votes, we should see it pass, nullifying the blocking motion.
Clearly these monkey games are simultaneously wasteful and the only way to get anything done on the peershares platform.
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Monkey games, psychological experiment, Chief Bird and Baby Birds, corruption, centralization, unjust enrichment, scam, stupidity etc…
And I have been part of this because I thought it is
sufficiently transparent, a crypto-business experiment, a network led by an impressive architect with capable supporters, performance-oriented, fostering decentralization, win-win for everybody, designed with good intent, smart etc.
I thought I had a clue what due diligence is, but JL played it extremely smart. Damn it, time to refine myself
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First of all, as a servant of BlockShare holders I care what @Sabreiib thinks, as he has made convincing public claims of being a large BlockShare holder.
@Sabreiib, is your concern based on a desire for shareholders to have more control over changes in the composition of the development fund, or is your concern based on being opposed to the purchase of NuShares specifically at this time? I suspect it is the former, and that is concern which is difficult to address. To get input from shareholders takes at least a week. With proper debate and modifications, getting shareholder input on a change in fund composition could easily take 3 weeks or more. Adjustments in fund composition need to be made faster than that, due to the high volatility of NSR. Do you agree the slow speed of shareholder input would make the input suboptimal, because the input would necessarily be outdated given the fast pace of change involved? Essentially, shareholders should control the general direction of the enterprise, but can’t be involved in day to day operational decisions due to the slow speed of input. It is practical to draft a motion that specifies I have ongoing authority to switch funds between NuBits, NuShares and Bitcoin, for instance. Would that help address your concern?
The recent action of selling US-NBT and purchasing NuShares at 36 and 37 satoshis is compliant with all motions, regulations and can be expected to be in the interest of BlockShare holders. The passed motion in the OP states:
This establishes asset exchange as within my mandate. While the passage only mentions BTC and NBT, the motion itself is for the purchase of NSR, implying reallocation among these assets is indicated.
On a practical level, the actions are easy to defend. NSR purchase was originally at 53 satoshis. Sale prices varied widely, but my guess is the return was about 50% on average. Now I am purchasing low again at 36 or 37 satoshis. I wish to make a public example of the trading pattern as a demonstration of how to successfully trade NuShares in a way that strengthens Nu and the trader (B&C in this case). It brings liquidity to NSR, which more than any other factor, is the strength of the peg.
I realize many would want the funds in other assets, such as BTC. At this time, that would produce a poor outcome for B&C, because it would directly lower the value of the fund’s NSR. Selling US-NBT without buying NSR with those funds necessitates an NSR sale by Nu.
@Phoenix, just in case you have overlooked that question:
What motion empowers you to do that?
And what motion empowered you to do that:
What development is to be paid with the BTC?
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In real world, a CEO/team makes decisions for daily operations because shareholders voting is slow. You may pass a motion to handle the B&C fund via trading BTC/NBT/NSR etc.
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bump
@Phoenix, just in case you have overlooked that question:
What motion empowers you to do that?
And what motion empowered you to do that:
What development is to be paid with the BTC?
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bump
@Phoenix, it’s amazing how you don’t answer these legitimate questions.
Can we at least have a flimsy excuse?
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Unfortunately, he doesn’t give a shit and will do whatever he wants to.
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This project has gone from a rotting corpse to the devil’s graveyard. You should all be ashamed for participating in this scam.
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