Single points of failure are bad. Single points of anonymous failure are even worse.
7 Likes
I am new to this forum but I own some NBT, and this part of the proposed contract looks unacceptable to me:
“My payment will be 1 million NuShares per month. The first 90 days will be paid as a part of this custodial grant for 3 million NuShares.”
I don’t see why payment should be made without requiring results. It’s easy to tell if the peg has been achieved. Therefore any payment made to any person who offers to re-achieve the peg should be conditional on actually achieving the promised result.
3 Likes
The price of a NuBit is currently $0.32, up more than 50% over the last couple of days from an established plateau of around $0.20. While it is impossible to know the motives of the market participants that made that happen, may I dare say that the likely reason is that the market has realized over the last couple of days that I actually have a very good chance of being elected Chief of Liquidity Operations with support over the last 1000 blocks trending at more than 34%. I have promised a NuBit pump. It is already starting to work.
Let’s end the scamification of NuBits that has occurred the last month and show some real dedication to our peg and our customers. It is good business. If the NuBit price keeps rising, do you think NuShares will stay where they are at? Unlikely. Getting the peg back may very well be easier than most forum participants think. It won’t work if we adopt the idea often repeated around here that the peg is dead and gone and it isn’t even worth trying to not completely destroy our customers and reputation.
The NuBit market is likely telling us it has confidence in me. Push me over the 50% mark and see what it does to the NuBit and NuShare price. You don’t have much to lose at this point.
We are going to start doing what should have been done all along if I am elected: support our currency with all the strength we have. We will restore the peg. We will rebuild the liquidity engine, along with higher reserves.
One more thing: this isn’t Facebook. I don’t have as many likes as most of you, but that doesn’t matter much, because I have 343 likes on the blockchain in the last 1000 blocks. That matters. It demonstrates a disconnect between what the typical forum participant wants and what shareholders want. Why do shareholders like me so much? Well, I have given credible promises of listening to and obeying their every command in the form of passed motions. Who do you think shareholders like better, someone who says “Fuck NuLaw” or someone who says they will follow every shareholder directive completely? Do you think they like people with defeatist attitudes or someone who reassures them we can get the peg and our honor back after this rebellion against shareholders?
The only likes that really matter around here are the ones on our blockchain. Soon shareholders will have a voice again after the chaos and incompetence of the last month. My voice. I speak for shareholders. That is why they like me. If you want to succeed around here as I am, pay attention to the likes on the blockchain, not the forum. Forum accounts can’t give you money with likes. Shareholders can give you money on the blockchain though. I am about to get 3 million NuShares that way.
Start getting used to the new reality forum participants: the peg destroyers will go down in infamy but I will be celebrated as the tireless defender and restorer of the peg.
The rebels forgot who they worked for. I didn’t. Hint: it isn’t forum participants.
I thought it’s because @Cybnate’s proposal is going to be hashed.
Seriously, handing you 100M share the network will belong to one individual – @JordanLee, @IAmJordanLee @Phoenix and @Superman because he will have 51% mint power.
More seriously, where is the beef? Where is the revenue in your proposal? Don’t say there are more ways than you can count, because under your architectship none of them worked. Disturbing.
1 Like
What’s more confusing, it’s not this grant that’s receiving “support”, but different one mentioned in [Passed] Elect Phoenix as Chief of Liquidity Operations (compromise version)
That grant has no comments and contains hardly any information.
Wtf is going on?
Right. This grant address SWm1… has no support. But the “other” one says
This custodial grant presumes the passage of motion
57ee6c5da13b0c91ca05a4f32e1a7bf9b44811b4, which creates the Chief of
Liquidity Operations position. Phoenix will be the Chief of Liquidity
Operations for 3 months after the grant is passed. The 3 million NSR
being requested is personal compensation for filling the Chief of
Liquidity Operations position for that time period.
and gets ~25% votes. The motion 57ee6c5da13b0c91ca05a4f32e1a7bf9b44811b4 is called "Voting Create Chief of Liquidity Operations Position (no name mentioned), and is getting similar level of votes.
The rebellion against shareholders is ending. It takes weeks for shareholders to make changes through the blockchain. So the rebellion has a life of weeks. Surely you knew shareholders wouldn’t support or kindly view those who say “Fuck NuLaw”, in other words “Fuck shareholders”.
I have to say it requires balls (or high degree schizophrenia) to make this statement while at the same time performing a blockchain attack. You are right, that it is almost hopeless by now, but some day you will end up in jail for what you did, promise <3
So the current diff of around 2e-4 gives about 45 votes. I can only urge shareholders to start minting again, its likely that a 50% increase in difficulty (maybe even less to e.g. 2.5e-4) would be sufficient to at least delay his attack significantly.
Yes, the rebels are starting to see they have no future here. How could it be any different? Do people not realize shareholders control everything here, even though that control can only be exercized slowly? Did the rebels proclaiming “Fuck NuLaw” not realize judgement day was coming, but just takes a few weeks?
I think many shareholders are currently realizing the opposite.
2 Likes
Forum Account != Shareholder
We have some loud voices here. There is @creon, who has told he is not a shareholder. There is @Sabreiib, who has also told us he is not a NuShare holder. I suspect people like @masterOfDisaster and @Nagalim have very few shares. If these people want a role here, it has to be serving shareholders. They are the boss. I said what the boss wanted to hear. I recommend everyone here try that.
But what if… you are the boss? Mind blown.
1 Like
I have been slowly acquiring some Nubits, and assuredly not because of the above reasons.
My motivation is that the quicker we can get the price moving northbound, the less we will need to dilute my NSR, and the less likely those shares may find their way into the hands of Phoenix to further ambitions that I am not comfortable with. In other words, I have already put my money where my mouth is.
As a long-standing Nu shareholder, I am increasingly alarmed at the push from Phoenix to acquire NSR and the reach for a lot of authority.
My thoughts break down as follows:
1- if Phoenix is JordanLee, then this masquerading is not behavior I would admire in the leader of a project that is attempting to be better than any crypto out there, become global at-scale, and an alternative to the establishment. Criticisms of the community are a sideshow from the flaws in the design already articulated by one’s own arguments. If people are the problem, then as the lead architect, the correct action is to architect a better technology that minimizes the ability for people to foul it up, not to centralize this flawed “people” approach into one person, who can act without any peer review or consensus.
2- if Phoenix is not JordanLee, then we have a new actor within our community. Like anyone new, to become a trusted member of our community, it will take time and efforts that have been proven positive (not just words) to gain the community’s trust. A rapid push to gain a lot of authority is suspect. Feel free to offer yourself to be a member of FLOT and offer yourself in a capacity that has limited power – one that can still help further the recovery of the network, so we can measure your actions.
The lack of JordanLee’s presence continues to remain a concern of mine, both as a member of this community as well as a developer whose future compensation is in question. In the absence of JordanLee, I’m sure we will determine new leadership, and I have faith thru the quality of the community, that the new leadership will do their best to take care of us to the limit of what we can afford.
Lastly, I don’t mind the 3:1 upside opportunity on Nubits. Get 'em while they are cheap.
5 Likes
Soon I will be the boss of liquidity operations, so long as I continue to serve the interests of shareholders. The market likes it.
lol. This is exactly what I thought. Darth Vader thought that the dark side was the way to go…
As a BKS holder, I will vote for paying Nu’s debts with 20% of B&C’s revenue if B&C finished, to clean up the mess, would you support me? .
Nu seriously needs a new tech here for –
Question of survival
What if you have bought all your 343 likes with your shares?
Can somebody run a poll to see how many ppl “like” phoenix and jordanlee?
@Phoenix, I am not against your effort on rebuild the peg, even if you are the creator of crisis behide the scenes.
I just hope you imitate Satoshi: after building up a successful decentralized system, hand over your power to the public.
1 Like