The script underlying the output that is the focus of this thread:
shall be changed to reserve 100% of outstanding NuBits instead of the current figure of 15%.
A maximum of 0.5% of the total NuShare supply may be sold each week.
This maximum applies to the aggregate NSR sales by all custodians.
Yes, require 100% reserve for NuBits as detailed above.
No, do not require 100% reserve for NuBits as detailed above.
I refuse to tolerate this @Sentinelrv. We all know how important privacy is to those backing a DAO. Exactly for that reason I would kindly ask you to remove that picture.
I wonder who decided the 15% in the past, 15%⌠In 1971 US gold reserve was 15% compared with its debts, and that was a turning point when US failed to manage USD pegged to gold.
What a black humor! Nu shareholders were astonishing amateurish in economics.
If you have profit, the reserve ratio dosenât have to be 100%, maybe 70% is enough according to your revenue level.
But if you have little profit, 100% is impossible even you try to achieve, BTW, if the reserve is partially BTC, you cannot control the reserve ratio on you own because of BTC price volatility. You may get 120% reserve if lucky enough, or vice versa.
The Standard and Core motion requires to sell -ST worth of NSR, which is controlled by the âreserve velocityâ in this calculation illusitrative example which the buyback calculator follows. I think the clause âA maximum of 0.5% of the total NuShare supply may be sold each week,â is added on top of existing Standard and Core motion (and patches). Although the 0.5% number could be folded into the âreserve velocityâ to reduce redundant parameters.
Without this understanding, there is no condition or a logical end to the selling, and no guide to determin exactly how much to sell. Without it one can only sell 1 nsr a week for example.
(Iâm sure theyâre gonna say: âWe know what weâre doing this time!â. â OMG we never learn anythingâŚ)
Just one more note talking about this thread: Iâd like to suggest adding at least two more options to this poll â 2.5x (150%) and 3x (200%) reserves. Reason: Bitcoin is too damn volatile against USD (much more than gold vs USD). p.s. USD/XBT pair in Forex would be chaotic.
There are ways to keep most part of the reserve in USD or tokens pegged to USD in a distributed way: NuSafe, and gateway-with-reserve.. These reserves are insulated from btc volatility.
When Bretton Woods System founded in late 1940s, US had majority gold reserve on this planet, so that was a proffesional behavoir with sincere.
But when US lost more gold reserve in 1960s by huge expenditure on war and others. This system is neither feasible nor sincere. Then in 1971 it came to end with merely 15% reserve ratio.
If Nu choose 15% reserve ratio just after initial launch, there are 2 options:
1)amateurish
2)insincere, scam
This rule also applies on the nushare buy back
1)amateurish
a conspiracy
I believe the word âamateurishâ is a flatter compared with other possibility.
The point is that tonly the blockchain can reveal the real consensus.
Clearly shareholders are not supporting yet the corresponding motion.
I agree we need to increase drastically the reserves but not necessarily to 100%. Maybe 50% is enough.
Also, equally important is finding new markets
We cannot continue, I believe, supporting for free the hedgers market, only.
Doing so for 20 months was good from a marketing perspective.
We could show the reliability of NuBits.