This has passed and the era of Chinese NuBits has begun. There are now 2 million in existence, with zero circulating. Chinese NuBits will need to pass through alpha and beta stages just like other software dependent products. In my own mind, when we have three or more exchanges supporting them I will consider them to be out of beta.
As I have pointed out before, there is a need to market Chinese NuBits that is beyond the scope of my role as Chief of Liquidity Operations. The most important marketing activities in the immediate future will be attempts to get Chinese NuBits listed on exchanges to make them available to the public, and to give us a platform to support the Chinese NuBit peg. It is within my discretion to make liquidity providing deals with exchanges, such as “if you list Chinese NuBits, we will provide 100,000 Chinese NuBits of liquidity at 1% spread, balanced between buy and sell walls.” The actual terms of the deal will depend on the specific exchange involved. Some are worth more than others to us.
@henry, what can NuLagoon do to help us bring Chinese NuBits to the public? Can you list them?
Marketing of Chinese NuBits should be a priority for us. With BitCNY being several times as popular as BitUSD, we have reason to think there is more potential demand for Chinese NuBits than for US NuBits. We only need to make Chinese NuBits about one third as popular as US NuBits to make NSR buybacks begin, all other things being equal. That is a modest and achievable goal that should be pursued as a very high priority.
Is anyone interested in taking the lead on marketing Chinese NuBits for us? I will work closely with anyone qualified and properly selected by shareholders for this role (either general marketing or marketing restricted to Chinese NuBits) to create deals for listings by offering guaranteed levels of liquidity at 1% spread. With @tomjoad gone and many forum participants frustrated by their marginalization, there is an opportunity to become involved in a meaningful and productive way.