@willy Not any more.
I have prepared NuBot on a special machine.
Also, I have contacted @ronny of ccedk to set my account. I can remit USD any time now.
I’ve been voting on your new address for a few days now.
Getting 16% right now.
Getting now 38.61%. Tks for your support.
Do you know by when I need to get more than 50%?
Within a 10,000 block rolling window. So there’s no “deadline,” per say. If people were to stop voting your grant’s voting percentage would start to slip down.
I am sorry, but I am very much against this. 10% a month for providing USD liquidity is not worth it. Think about this:
There is a bitcoin trader looking to cash out some bitcoins to his bank in Denmark. CCEDK has low fees for withdrawals in Denmark, just speculating. A Denmark bitcoin trader sees an opportunity to cash out $5000 with NuBits. He trades his bitcoin to NuBits and then to USD. He makes the withdrawal. Now there is no buy side liquidity on NBT/USD for the next 30 days.
If this likely scenario were to play out, the network paid $500 for this trader’s single withdrawal. He would have a very hard time cashing out $5000 worth of bitcoins on CCEDK otherwise.
Further, this is the second time I have spoken against a NBT/USD LPC proposal and I really do understand how important USD liquidity is to the peg. So I thought I would comment about how I think this can more efficiently work.
I think a possible solution to this is to find somebody who can easily put USD onto an exchange that would be willing to provide the service at a much lower fee, OR find an exchange owner that realizes that providing USD liquidity to NBT/USD is a low risk way to increase overall USD liquidity on their exchange.
@ronny have you at all thought about providing USD liquidity to NBT on your exchange as an LPC with the added possible benefit of increasing overall liquidity?
I have a large USD balance on BTC-e, but I have never wired money there. I am sure there are many others in my position.
That is a realistic scenario indeed. The problem I have is that no other options to provide liquidity on the NBT/USD pair are available. That is the reason I’m currently voting for it, until someone has a better proposal.
I’m looking forward to alternative proposals as you suggest.
I see. So if 50% is not reached within that 10,000 blocks window, the protocol automatically dismisses the motion hash or custodian address? If it does not, what if 50% is reached at a point beyond that window, say 12,000 blocks later for example?
the window moves with blocks
Why not sell NBT on Payeer and other payment processors / gateways. They have USD.
So my grant can pass say 1y later and be totally ignored for 12m prior to that?
Yes, as long as the Shareholders have confidence that you would execute it, it could pass. No deadlines from the Nu system.
Right - it’s not a matter in which 10,000 consecutive blocks the majority was voting for a motion or a grant; it’s a matter of whether or not there is ever such a majority!
Am I right that the way to step down from a proposal would be to withdraw it before it has passed?
Yes, that is correct. Withdrawing a proposal before passing is the only way to ‘step down’ from an earlier submitted proposal before passing.
Getting 40.83% right now. Please vote. My proposal is certainly not perfect but this is the best solution to support NBT/USD right now.
I am losing support. Getting 32.54% now.
I do think supporting NBT/USD should be the priority.
Not sure why this is falling.Try cross posting to our subreddit?
Maybe [a big fraction of shares stop minting] because they are moved to exchanges?
edit: mental note: when trying to get a motion to pass, pick times when NSR is cheap.
: Current Proof of Stake Difficulty