[Passed] Make NSR Buyback and Sales Requirements a Guideline


#1

Motion Hash: 318410e7d808570f8a6d7389dee796234135aef8

This motion will allow the Chief of Liquidity Operations discretion over the quantity of NSR sales or buybacks each week, as follows:


Timeline of events related to the peg break 2016
#2

Are you still planning on doing NSR buybacks? How exactly will that work with a 100% reserve model? Couldn’t NSR buybacks only be done if the reserve was more than 100% filled?


#3

I don’t believe Standard and Core calculations are smart, because a dead/fixed formula can NOT handle live free market at all.

In fact we should not use Standard and Core calculations at all from the begining. Counterpart risk is too high, we expose our NBT buy/sell wall price to freemarket, futuremore we even expose the NSR quanitity/trade volume, so Nu becomes a sitting duck for attackers.

Who invented Standard and Core calculations at all ? I guess we can rename Nu community to Naive community where some IT experts/geeks without any decent real world business experience wanting to change the world, but finally they find it difficult to survive in this harsh world at all.

Too young, too simple, sometimes naive!
--------- Jiang Zemin


#4

Well, the source found.

Wow, two big mistakes, I can call it suicide motion.

1)This fomular mantain the reserve ratio around 15%, what a rediculous ratio, the big USD/Gold pegging project “Breton Woods System” died because reserve ratio declined from 100% in 1949 to 15% in 1971.

2)Sell NSR when NBT in danger, this equals to borrow money from bank when you bankcrupt, now NSR cap is lower than NBT’s, what a result.

If you want to restart your business again, please learn how to do business firstly. This motion’s author may be a senior high school student, young and easily excited. Nu isn’t a toy, kids please go away,

I did heard of NSR buyback and price surge several months agao, I thought there are some Nu wales are manipulating the market, buy I never realized this the the result of such naive formular. Wow, the IQ of this community really impressed me, and I can hardly find another comnunity as such pure and naive, really unique. Incredible innocent in this evil real world.:innocent:


#5

I have hashed this motion:

Motion Hash: 318410e7d808570f8a6d7389dee796234135aef8


#6

Sources are clearly stated. Please go back to highschool for reading comprehension.

I somehow doubt JL was a highschool student. But sure, maybe.


#7

I don’t believe Jordan Lee is a successful businessman in real world, and he/she is a terrible project manager and terrible software architect, he/she had better go back to code and get reviewed by Sigmike. Being a programmer is the only thing he/she can do well.

And from my point of view, Jordan Lee’s business experience is no more than a senior high school student.

Sorry for these harsh words, this is something an angry investor should express.


#8

Feel free to drag jordan’s name through mud, though I don’t know what good it will do. I just want it to be very clear that none of my motions regarding buybacks and dilutions took effect until we’d already spent over $100k on buybacks under JL’s motions and every one of my motions (except circulating nubits, which had a trivial effect) increased the reserve from the paltry $80k all-inclusive that JL set.


#9

B&C investors must fire Jordan Lee, as an incompetent leader, he/she screwed up B&C, what he left is a semi finished product.
Where are dev fund? Parked as NBT
Why B&C website/twitter not updated? No one knows.
How many developers are working now? Don’t know.Even Eleven also doesn’t know.
Are developers still paid by Angela/Jordan? Don’t know.
Any roadmap of B&C? None, even white paper is incomplete.
Are Sigmike satisfied with Eleven’s skill? Seems not.
Could Jordan Lee pass Sigmike’s interview if he/she apply for a job in Sigmike’s company? I highly doubt it.

Enough of it! Time to act!


#10

Oh jeez.

Already planning on spending future customer funds on NSR pump and dumps again. Why not PPC, too?


#11

I bet that most people would have more confidence in @Phoenix if he had managed to implement revenue schemes.
The achievements so far are not enough to save Nu; they only postpone the inevitable complete failure.
Nu needs revenue to continue and not tricks.