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 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 dosen’t 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 “reserve velocity” in this calculation illusitrative example which the buyback calculator follows. I think the clause “A maximum of 0.5% of the total NuShare supply may be sold each week,” is added on top of existing Standard and Core motion (and patches). Although the 0.5% number could be folded into the “reserve velocity” 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.
(I’m sure they’re gonna say: “We know what we’re doing this time!”. ← OMG we never learn anything…)
Just one more note talking about this thread: I’d like to suggest adding at least two more options to this poll → 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.
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.