[Passed] B&C Exchange should trade all US-NBT for NSR


#101

I agree it would spell the end of hope


#102

Lotta votes with 440-450 sdd.

http://bcblockexplorer.com/charts/sdd


#103

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.


#104

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.


#105

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 :smiley:


#106

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you agree the slow speed of shareholder input would make the input suboptimal, because the input would necessarily be outdated given the fast pace of change involved?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.


Attention, forum administrators
Timeline of events related to the peg break 2016
#107

@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?


NuBits v5.0.1 Release
Timeline of events related to the peg break 2016
#108

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.


#109

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?


[Passed] Motion to Empower Motions
[Draft] Bylaws of the Board of Reputed Signers (former RSOT)
#110

bump
@Phoenix, it’s amazing how you don’t answer these legitimate questions.
Can we at least have a flimsy excuse?


#111

Unfortunately, he doesn’t give a shit and will do whatever he wants to.


#112

This project has gone from a rotting corpse to the devil’s graveyard. You should all be ashamed for participating in this scam.


#113

:slight_smile:


#114

@Proteus at some point @JordanLee even introduced a completely unknown character called “Angela” to the community. “Angela” out of a sudden was some kind of accountant for Nu. Nobody ever heard that name before. This network turned into a comedy show because he started blaming this imaginary character to not have provided sufficient accounting data :smiley: Then again, he calls himself the greatest architect in crypto of all times somewhere on bitcointalk. It is not even funny anymore. @jooize keeps quiet even when the most ridiculous stuff is being pulled off by @JordanLee / @Phoenix. The NSR bonus granted to @jooize obviously took effect.


#115

Angela was the name of the person I dealt with for raising invoices in the early days of Nu. Communication happened by BitMessage and took place on a monthly basis for me and the other participants in the Nu team at that time. Who Angela is/was and what relationship exited with Jordan Lee I don’t know, but to say that Angela was an entirely unknown entity before the above post is not strictly true. Given my experience of contact with Angela over quite a long time, the version of events presented by Phoenix seems completely plausible.


#116

@woolly_sammoth you are trying to protect your investment and your position on the payroll, and that is completely comprehensible. It is the first time now that you step forward and call Angela a seemingly existent and reliable person within the Nu network. Where is Angela now? How much of the funds did she hold? Did she disappear along with @JordanLee? Did Angela “lose” control to all those dev funds? Who the heck is Angela and what was her role? My god… @AngelaLee, could you help us out here?