Wrong.
Right â I meant automatic audit
f8b9e060dc73a97fd28a62ecfdd419114892787a makes sense.
Voted.
Link on the motion is broken,
What s the hash of this motion: 470ba7bf40099c395b8fb569367d16ce6167c2bd
or 1118f2334d0ef45676b38ebe2daaf30a8a345a7f
shall be changed to reserve 100% of outstanding NuBits instead of the current figure of 15%.
A minimum of 0.5% of the total NuShare supply must be sold each week while so long as either one of these two conditions exist:
- There is not a buy wall equal to or greater than $0.98
- The 100% reserve requirement is not met.
But why this sudden change from no-reserve to full reserve policy?
Is there any moratorium to this full reserve?
Reserve in what?
This is not banking anymore
From Jordan Lee in this forum thread: Regarding reserves and fractional reserve
Various members of our community and other communities have at times spoken about reserves and fractional reserve in relation to our network. Some seem to think that 100% reserves are desirable and equate to solvency, while others (including myself) wish to avoid the use of reserves altogether to avoid counterparty risk. Some view reserves as the backing for NuBits, while others see NuShares as the only possible backing for NuBits.
Benjamin contends that reserves cannot be reliably used to back NuBits. I agree. This view implies that solvency and fractional reserve cannot be assessed by the size of any reserve. If there is no reserve, the notion of âfractional reserveâ doesnât even make sense in the context of our network. However, a related concept is the ratio of assets to liabilities as Benjamin pointed out, where NuShares are network assets and currencies issued are liabilities. If the NuShare market cap is 8 million NBT and there are 1 million NBT in circulation, the asset to liability ratio is 8, not counting any reserves that exist. This is a highly solvent state that doesnât resemble anything like fractional reserve.
It is clear the original design of Nu as articulated in my whitepaper is a network that avoids the use of reserves entirely to eliminate counterparty risk. When a LPC provides their own funding for liquidity operations, they are implementing this zero reserve model. Shortly before our September 2014 release it became clear that NuBot would need to support primarily NBT/crypto pairs instead of just NBT/USD. This was difficult to implement quickly, which means it had some bugs initially and this approach introduces some extra risks which were not well understood and could not be accurately measured at the time. As a result, KTm and Jamie began using shareholder funds to provide liquidity, which may be regarded as reserves in some contexts. It is has been my intention all along that this would be a temporary situation as we would transition back to the original design of LPCs providing their own funds consistent with the zero reserve and zero counterparty risk model. Indeed all custodians besides Jamie and KTm are providing their funds and the transition is well underway.â
This is an important change from the âmaximum 0.5%â in the OP as it imposes no maximum of NSR sales per week. There is no consideration to how much the sales will disturb the NSR market.
@Cybnate and @cryptog , did you consider this when you added this to the feed?
here: Nu Voting Hot List â Jan, 17 2018?
Good point. I have not added a proposal on 100% reserve yet.
Same here, not part of the datafeed. Selling without caps is a bit rough on the market. It does allow for some flexibility though. All comes down to trusting Phoenix.
this passed.
But this one didnât yet.
I own Nubits and NuShareâŚI donât want to lose anymore value. My Nubits are parked and my NuShare are voting, I think. I have the data feed and I came here to look at the proposals that I found in the datafeed. What can I do, and how can a contribute?
If you are minting you are contributing. If you vote by subscribing from one of the active datafeeds you are doing very well.
Must I actually click on any of the proposals in the wallet that the datafeed provides or are my votes automated by simply subcribing to the feed? Iâve been holding NSR for quite awhile and theyâve lost a considerable amount of value since I purchased themâŚbut, Iâm not sure if I am responsibly voting with the datafeedâŚThis is the feed I am subscribed to: https://raw.githubusercontent.com/Cybnate/NuNet-datafeed/master/Cybnate-datafeed.json
this is the case. your found blocks automatically use the feedâs motion/grants as its yes contents.