Pessimism is natural when money is lost, and many of you lost significant sums. I am truly sorry that is the case. I would never lure anyone into something I believe is fraudulent. I am really operating publicly with my real identity, but I don’t advertise my location to people who wish me harm. I didn’t design Nu, but came to be in this position via a situation where this community entirely demonized a person who was attempting to have custodians execute the liquidity model as planned and began worrying about a seeming lack of commitment to liquidity. As shown in Timeline of events related to the peg break 2016, a member of the previous liquidity team (FLOT) who carried out the only NuShare sale they performed placed the proceeds at 90% devaluation of USNBT. That’s supporting the peg at $0.10 when it had been advertised at $1.00. Same member then openly stole a remaining 13 BTC trusted with them for liquidity provision. Further reading of our history may be interesting, but please take extreme care to look at the facts and evaluate who said what and why. If you come out of it with the opinion that I’m wrong, I want to hear that with real arguments and references behind it similarly to how I have carefully tried to represent my stance on issues.
When people come only to criticise and attack the character of those who do work instead of putting forward their own efforts especially after previously being involved themselves, I don’t understand what their motivation or value structure is. Such people have continually speculated the worst in basically every step of the way. It’s remarkable that they originate from our own community and I would probably consider that’s a huge red flag if I didn’t know almost all parts of NuBits’ history since 2016. As such I’m just disheartened by the destructive attitude.
If you know better, then go create that! Or even better, present yourself convincingly to shareholders and take over operations. I’m just trying to fulfill the vision of NuBits as a decentralized stable digital currency to the best of my ability. Certainly there are people who can do it better than I, and I’d be happy to profit from others’ efforts, but who will do the work? A project called Augeas emerged as a fork of B&C Exchange (sibling project) with shareholders of Nu that didn’t vote for the direction we were going, which from the way I see it was to honor all issued NuBits instead of giving up and starting over. I wasn’t bothered by that and kept going until eventually NuBits’ peg was restored (with NuShare sales).
Every day I try to see past the negative and sometimes aggressive messages in order to continue building what many people yet do believe can function and provide utility for huge demographics. I will keep going as long as there is confidence in our progress, meaning investors buying NuShares. Those who recognize the fundamentals, i.e. believe that we can make this work in the sustainable manner expected, should help bootstrap a healthy NuShare market now.
I want to identify and resolve any weaknesses in our liquidity model, but perhaps unfortunately I do not much trust those who seemingly just come around for facetious remarks in challenging times.
