@dysconnect: You are articulate and argue reasonably. I welcome that! Even if I disagree on certain points or find you plainly incorrect. Cheers.
Regarding @dysconnect’s involvement in FLOT, they did sign the transaction June 9, 2016 to move remaining FLOT funds to NuLagoon Tube, though within an hour withdrew their signature (which remains in post edit history) referring to an alternative transaction they didn’t seem to sign. A concurrent problem was widening of spread over 1%, but his change of mind was based on the tightening of spread at the transaction’s target exchange platform. They created a transaction to move funds to a new FLOT address. Didn’t sign a transaction directly mandated by shareholders under directions of elected Chief of Liquidity Operations. After the peg had been restored three months later, they signed a transaction to transfer remaining funds to Poloniex at 1% spread.
I was a FLOT BTC and USNBT signer and may have acted inadequately to some degree. I’m not particularly interested in blame, but to establish the real history.
As for a previously surfaced concern that I recall regarding FLOT working without pay, every signer says in their passed motion they will be part of FLOT for at least one year and to be paid by the end of each cycle, of which there had been two completed and paid for.
Nu had 66 BTC, ~38,505 USD according to me June 6, 2016.
When Phoenix and I began selling NSR there was buy support, just not for the entire circulating supply at once. Investors may want to see that their funds are being used as expected for peg support, which absolutely did not happen with the proceeds from FLOT’s one and only NSR sale.
Nu had no other way to back circulating NuBits beyond the value of its asset reserve (tier 1–4), and it appears to have come as a surprise to many that NSR sales was the mandated source of deeper liquidity. Few seem to believe that investors would see value in owning Nu when its asset reserve was depleted and circulating NuBits remaining unbacked. Everything since suggests investors do see value in Nu at some price. They can be greatly rewarded by later demand.
It’s critical to realize that NSR sales is a core function for deep liquidity.
Refer to Park rates are our method for short term peg maintenance and [Passed] NSR sale and NBT burn.