POLL for NuShareholders: What is Your Current Sentiment on Nu's Future? (Updated Version - July 2016)

[mhps]

My understanding of why Nu gave up on supporting USD/NBT is due to the fact that the only exchange that listed said trading pair received $XX (double digit) in exchange-wide trade volume per day.

The nbt/btc liquidity operation takes volume away from nbt/usd merket.

[GreatScott]

The nbt/btc liquidity operation takes volume away from nbt/usd

You could rephrase this to say, “Shareholders put more liquidity in the nbt/btc market instead of the nbt/usd market” Couldn’t you?

[mhps]

You could rephrase this to say, “Shareholders put more liquidity in the nbt/btc market instead of the nbt/usd market” Couldn’t you?

Many don’t realize these two market compete with each other. Although it’s true that there is little speculation space in the nbt/usd market so there is not as much activity.

[Sabreiib]

Many don’t realize these two market compete with each other. Although it’s true that there is little speculation space in the nbt/usd market so there is not as much activity.

I remember in 2014, after @desrever temperorily designed the NBT/BTC pair before NBT trade on exchanges, Jordan made the decision to accept NBT/BTC pair, and I was astonished, this means Nu company becomes a BTC reverse speculation company.

Now Tether is trading on various crypto/Tether pairs, this is the beginning of their bankcrupt if no enough revenue.

[GreatScott]

Take a look at Tether. They do not, and have never, provided BTC market liquidity. But the result of that has brought them to a level of volume in the BTC market that we couldn’t achieve even when subsidizing it with large and expensive walls on a tight spread.

They don’t even have to pay anybody for liquidity!

[GreatScott]

Now Tether is trading on various crypto/Tether pairs, this is the beginning of their bankcrupt if no enough revenue.

Adding additional crypto markets doesn’t harm tether’s bottom line since they only support the fiat/tether peg. The rest of the markets just fall into line.

Their bankruptcy will come when governments raid the Tether bank accounts or they confiscate funds from a ‘bad actor’.

[Sabreiib]

they are smart by avoiding btc pair, but they still have expenditure: employees, rent house etc.

[GreatScott]

They supposedly prove their USD reserves. Reserves are always higher than outstanding. What is their overhead? I imagine it is practically nothing.

[Phoenix]

Take a look at Tether. They do not, and have never, provided BTC market liquidity.

Some bot has consistently provided very good liquidity on the Poloniex BTC/USDT at less than a 1% spread. I don’t know who is running the bot, but most likely Tether is offering the liquidity.

It appears Tether followed our lead in regard to providing liquidity on BTC pairs, and for good reason.

[GreatScott]

You could run a 1% bot on polo and make a small profit thanks to tether being listed on BitFinex. They did not follow our lead, as you say. And like we can’t prove you are Jordan Lee, you cannot prove Tether did what you allege.

[Sabreiib]

They supposedly prove their USD reserves. Reserves are always higher than outstanding. What is their overhead? I imagine it is practically nothing.

If you buy something at $1 and sell it at 1$, you have no profit, so what’s the point of your business? In real world, how many businessmen dare to do business without proper revenue model?

Or Tether has a long term plan: they just provide free service to cultivate customers habit, and after many years they will harvest.

[GreatScott]

If you buy something at $1 and sell it at 1$, you have no profit, so what’s the point of your business? In real world, how many businessmen dare to do business without proper revenue model?

Don’t you see any irony in posting this on this forum?

Or Tether has a long term plan: they just provide free service to cultivate customers habit, and after many years they will harvest.

I have no intention of defending or promoting tether. But in the real world we look at competition.

[Sabreiib]

I’m not familiar with tether, just a glance of their white paper a year ago, so I agree with you that tether also has the revenue problem.

To build up a stable currency, the proceed from selling USD token should be invested to somewhere to get profit to support company’s operation. I believe this is a common view of the majority forum members. After 1.5 year Nu operation, we should feel it more than any other crypto.

[GreatScott]

so I agree with you that tether also has the revenue problem.

Tether has $7 million in the bank. It is silly to compare it to Nu’s fundamental mistakes.

[Sabreiib]

Tether has $7 million in the bank. It is silly to compare it to Nu’s fundamental mistakes

I remember they are from a traditional company, and it’s easy for them to maintain peg at USD pair in this way, but the capital is naturally for profit, their money’s opportunity cost is also high, what’s their require rate of investment? I cannot find their incentive to run this business. Do you know that?

[GreatScott]

I do not know if or how they make a profit. Maybe it’s basically just one guy who has a bank account and lives off the interest? Everyday he cuts a check to Bitfinex or the other way around, of his customers’ money. Sounds like a sweet gig to me.

[Raythma]

In regard of the revenue model i want to point out for what UpWork (one of the top global freelancing platforms) have done to there Service Fees.

They have been already charging 10% fee from every and each payment for any job you finish.
However, they still saw that as an Unfair rate for them!, so they Doubled that for any job you have with a new client (where their payment processing is very valuable), and reduced that to the half for the Much more regular clients of yours (where you may be tempted not to use their platform at all and just trust your client).

That what services for centralized and huge companies worth, we are much more vulnerable and deal with much more risks and offering a very valuable product.

[Phoenix]

It is interesting to look at these poll results. Out of 31 votes, only one vote was cast that expressed full confidence in Nu:

I still believe in the project. I believe we will find a solution to get going and pivot, therefore I am not selling any NuShares at this stage.

That vote was mine. Time has proven that my own perspective was the most accurate, with the peg restored more than a month ago in a sustainable manner. I have a remarkable ability to stand separate from the crowd when the truth requires it, as it did here. It isn’t hard to see why I am so valuable to the network and why shareholders have wisely chosen to place so much confidence in me and my judgement. I’m steady during a storm.

[ConfusedObserver]

Let me correct that for you:

I’m steady during a storm.

because that’s what you and your preceding alter ego JordanLee brought over the Nu netwrok

[ChrisS]

I haven’t visited this site for a month. Jordan’s ego has gotten so huge! Can’t you guys control him?