[Passed] Temporarily cap NBT supply with full reserve

NuShares Motions
#21

What good is a peg at any rate, if there’s no revenue with that the costs and debts can be countered?

Realize it: the peg is gone.
Use this opportunity.
You can make changes that would seem unthinkable with an intact peg!

You need to create reliable ways to generate revenue first.
Then you can try to figure out what peg can be afforded (at what level, how tight)

And for god’s sake, start with an accounting and get control over the financial situation!
That sounds like you are running after a shadow that’s called “liquidity engine”, although you don’t know how to fuel it.
Do you want to run a business or chase dreams?

6 Likes
FLOT BTC Operations (buy side)
#22

Anyone willing to publish a build with these modifications? @woolly_sammoth? @desrever?

#23

What for?
Where’s the revenue from having any peg?
You need revenue, before you can have a peg that anyone believes in.

4 Likes
#24

The motion re-establish the peg at $0.10 (a26f6661ced949166227019f0ee64afe98f7e6b0) already has 12% support among the last 100 blocks.

#25

@Phoenix
I as a major LP before will not sign up to this insanity. This is how we dove off the deep end before.

Insanity: doing the same thing over and over again and expecting different results.
Albert Einstein

We need a plan.

  • Revenue
  • Accounting
  • A model of how liquidity will actually “work”

Thus far NBT/NSR debt equity swap is the only thing I will sign up to.

3 Likes
#26

Wouldn’t the NSR sales (for NBT purchase) required by FLOT when the Standard is less than a certain threshold meet the definition of a debt/equity swap? That is a central part of my plan.

#27

No. Because, no offense but NSR is no equity right now. There is no market - and we cannot build a future on a hope that there will be one.

Give us actual revenue first. Then we can talk about liquidity.

1 Like
#28

This multi-identity thing is really fascinating, I wonder how many JL alts there are around, I have several in suspicion. Speaking of which, how do prevent sybil attacks of those anonymous signers in B&C again?

Here is the deal: I modify both software packages for free, if you

  1. Bring back MoD, which most certainly requires an apology
  2. Publish any imaginable number about funds, how much, are they locked up, where are they (who is Angela btw, lol) or whatever our new accounting specialists @nmei and @ConfusedObserver can think of.
  3. Come back with your real account and use your skills to take part in existing proposals for revenue streams

Want this 10 cent Nubit? Tomorrow evening you have the software if above points are fulfilled by @JordanLee.

5 Likes
#29

A 10 cent peg will destroy Nubits. Its literally like pouring gas on your burning house saying “well I can build it again” instead of salvaging the frame work.

#30

Since the NuBit price is presently around 50 cents, why not re-set the peg at 50 cents?

#31

“Why choose a low peg? We aren’t playing the market to our advantage by cutting the value short. Why don’t we wait and see where nbt stabilizes and work to support it there instead of cut its value by more than half to rush a pegged position immediately.” <-- Exactly, this was my point earlier.

1 Like
#32

@PoP who are you?

All I can tell is that Pop disagrees with Phoenix. This identity sleuthing had better not get more interesting than actually saving Nu. :stuck_out_tongue:

#33

@pop and @Phoenix

You both joined hours ago and both act like alter egos of @JordanLee. Welcome to Nu.

#35

@ChrisS and @Chronos Im new here. Here is my OP w/ savior proposition :wink: : Burning Nubits via gambling, apps, and more

I enjoy saving projects. A contrarian investor if you will .

1 Like
#36

Can you elaborate your thoughts on this please?

1 Like
#38

If I remember correctly the stake modifier in PPC was planned to be changed to the one in blackcoin, but that’s about it. But also DPOS didn’t prove as particularly elegant so far. On the paper Casper looks best to me, or in general the idea of uncles such that you have to bet on forks. But this has yet to be proven to work that well in reality.

But considering the consensus algorithm to work sufficiently well, I don’t see any problem with the peershare template itself, so I would also be curious what you mean by that. Maybe it is not useful, but using the coinbase in blocks of PoS coin as voting mechanism is in my opinion correctly implemented by the template.

#39

and next will be $0.01？

#41

My favorite kind. Good to meet you.

#42

Second

#43

I am heavily editing the OP as the plan gets more details.

I have added a motion to cap the NuBit supply temporarily here.