That’s a productive way to criticise me.

There’s a lot of things to consider. I read most threads and comments and think about all of it. It’s difficult for me to keep up. I tend to begin writing replies, but want to give a proper response rather than poking at a little thing here and there which I criticise others for doing, so the comment is put on ice and they tend to eventually gather into one of these kinds of posts.

Perhaps I am too passive where I don’t agree and perhaps you’re right to some degree. Let’s try to break down my standpoint.

I look at the criticism and haven’t been able to see where the scam is. The paranoia or what I should call it is not convincing to me. It’s often aggressive, angry (understandably), and tying things without much substance together into scenarios that may seem plausible. Has anybody taken time to map their accusations out properly? I’m wary of witch-hunts. Simply because many people believe something doesn’t mean they’re correct.

Looking at the most recent alleged sock puppets, I don’t buy that those are his accounts. It’s difficult to maintain different identities and type differently with each†. Past accused and suspect accounts have also later appeared not to be his. Not to say none of them are. In any case it felt like a rash and irresponsible move adding them to the bonus grant. Especially @Tony as they had only made three low-content posts by then.

† It appears meticulously carried out in that case. @Tony usually types with a directional single quote () as apostrophe (at least one exception), while I didn’t find a single instance where @Phoenix has used one. @Tony put a space before his percentage sign, whereas @Phoenix doesn’t seem to ever have. It would be a genius move for convincing me since I’m interested in punctuation.

In my consideration of what I think of him I have the conversations I’ve had with him over the latest months. You may say I’m gullible, and while I’m no expert on people, I really do not get the feeling from this guy that he’d intentionally break the peg for all the hassle of (potentially) recovering the projects.

It frustrates me when he hasn’t given satisfying answers to questions. I recognise there are reasons to keep certain things secret, but I want a public statement for why it should or needs to be.

The lack of transparency, his attitude at times, and the aggressive conduct with motions certainly isn’t helping, but suspicion by that on its own is insufficient for me as basis for halting mission critical operations that investors (or someone!) are obviously still paying for. I have no qualms about using their money to pay our debt, development, or server expenses.

If you (anyone) believe shutting down liquidity is the worst action that can be taken for a project that you worked hard to build, I wouldn’t be surprised to see you be upset at those trying to do so and try to protect it from that happening. His aggressive approaches in motions may be attributed to not trusting many people with funds. His motion Re-evaluation of RSOT Implementation one could assume is grounded in the fear that the wrong group will lose control of the funds. He can trust himself of course. He’s in favor of decentralisation, but on the basis that it will not fail.

I’m getting paid in shares at a rate I haven’t felt unreasonable and which enabled me to dedicate the time. Money’s of course easy to fall in line with. The bonus? Well of course I want it. I’ve worked hard (in my measures) these months. Is it justified? I would have said let shareholders decide, but if your belief is that he controls the network that isn’t an honest position to take. I don’t know. If what we’ve been doing is the only way Nu may recover, maybe. If this was all a horrible direction, no. If we do succeed, yes. (The grant has passed now.)

I don’t have the numbers, but we’ve printed and sold a huge amount of NuShares. I can not believe most people I was in contact with for BTC during auctions was @Phoenix, or that the buy support of NuShares has been upheld by @Phoenix alone. New shareholders may also well have been voting for @Phoenix’s motions. If it was and is him, he’s pushing lots of funds into Nu. It’s speculated that he made huge profits on the NuShare buybacks. Enough to sustain Nu and risk this much of those funds for a “second round”? I don’t know. It seems unsubstantiated and not obvious.

If the peg is supported by @Phoenix with buyback funds, that’s not wrong. Assuming those with big money understand and believe in the model of ebb and flow NuShare backing of NuBits, it may be possible to store our reserves there. Either we have some believers or it’s all supported by @Phoenix. Breaking the peg intentionally is obviously wrong, but I only saw signs of him worrying about that happening and then doing his best at picking up the pieces.

(If we show that we’re serious about the model, execute it as intended, and it successfully backs the peg, the NuShare price floor may stabilise at higher levels. Especially if we get as far as to build NuBit backing with NuShares into B&C Exchange or the like.)

What essentially matters?

  • NuBit peg.
  • Development funds for B&C Exchange.

What does he have control over?

  • NuShares granted for liquidity operations.
  • B&C Exchange development funds.

He can currently only directly benefit by selling NuShares and stealing the proceeds, stealing the development funds, or by passing raises and bonuses.

Scattered accusations that may even conflict with each other help nobody. Convince me with a model for the economics of breaking the peg etc. and preferably explain comprehensively how Nu’s current model is faulty.

I’m not trying to be “smart and neutral” for the purpose of sneaking out some money under the guise of righteousness, I’m doing what I believe in and I don’t run from controversy. I’m surely wrong about many things (I would kind of hope with the amount of people who believe I am) and likely neglected addressing things, so correct me and ask. Please be respectful, and expect me to be slow to respond.



The proposed bonus recipients and amounts are as follows:
Phoenix: 110 million NSR
Jooize: 25 million NSR
Woolly_Sammoth: 10 million NSR
Henry: 5 million NSR
Cryptog: 2 million NSR
Sigmike: 15 Million NSR, as potential fast release bonus
Cryptog’s Contributions

Let’s see how many likes you can get and from whom.

This is a fun place, even though I lost five figures because of being part of this. It’s still worth hanging around and see how people act and react just because money is involved.

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Don’t pretend to be a fool, the manipulated voting as shown with blockchain data here in the forum, the secrecy about all funds that were eagerly brought into his possession, this ridiculous “NSR liquidity” trading scheme where he creates sudden market reaction at predefined times … no, there is no way that you don’t see it.

You were profiting greatly from this and still are, and this is why you do it. JL uses you as one of his figures to run this whole thing and keeps you fed to ensure your loyality. But you know and many people here know exactly that you are 100% part of this scam.

With all due respect @creon, I think you are giving this idiot too much credit. He certainly is a fool. If he wasn’t, he would have hided his identity as carefully as Jordan did.

I’m in the same boat, I won’t call it fun, but it is an interesting psychological ‘event’ even though we are both part of that. Your presence here still contributes to this all too :slight_smile:

Well I do see that and it is not good enough for sure and that is all JL/Phoenix for reasons he refuses to explain. That is the part I struggle with too and might be tipped over soon if it continues with the new currencies.

However Jooize appears to just getting the best out of the circumstances pending whether the accusations of scamming can be substantiated. I see someone doing a job with transparency, I don’t have a problem with that as long as he challenges the opaque fund manipulations JL/Phoenix appears to be involved in. He might be the smartest of us all as he is able to get something back from his NSR investments. There is a thin line between fools and geniuses :slight_smile:

Even having phoenix reporting blockchain addresses with Nu and B&C funds in hindsight would make a lot good, still hoping that this may happen or becomes clear eventually. But maybe I’m the greater fool :sleeping:.

1 Like

@MaVo. I was merely liking a considered and evidence based post that puts into words some of the feelings I’ve had about Nu in the past few months. I’m sorry that the tone of the piece goes against your views of what has taken place and the state that Nu currently is in but I fall far short of seeing Nu as an out and out scam.
I’m not completely comfortable with where Nu has found itself but, as said by @Cybnate recently in another post, it doesn’t seem to be dead. While that is true I am comfortable to continue to work on Nu as in my view it is the only way to encourage the system to move away from the current which so many cry scam at. I may be accused of nepotism or being a sock puppet or being used or any number of other slurs for doing so but, similarly to Jooize and Cybnate, I have looked at what has happened in the past and what is happening now and have found that my own views fall differently to those expressed loudly on the forum of late. I aim to continue doing what I have always done which is work on software where I see a niche. Sometimes that is funded by Nu and lots of other times it isn’t. I’ve donated my fair share of time and effort to this project and think that with some encouragement it could regain some of what it has lost.
With regards the ‘Reward’, it’s not something I asked for but having found myself in the position of gaining a significant amount of Shares, I’m not going to lie and say that they aren’t welcome. I’m sorry for your financial loss in Nu @Mavo but not all of us are in the position to invest five figures. All I have to invest is my time and effort and I intend to continue to direct them to Nu. I hope to be able to find the niche that Nu can fill to start making revenue aside form NuShare sales (an effort which is currently ongoing and entirely unfunded, by Nu or otherwise).
For me the dream is still alive. Injured but still alive.


No doubt all of us keep visiting this place because we’ve invested time, money, other resources. Dream of stable currency is still alive and negative reactions from both sides that are clearly present here won’t deter me from following that dream.

Let’s be respectful of other investors.


Yes, especially if he presents himself the whole time as someone who is actually trying to do good.