The Nu network is among the biggest scams crypto has seen so far

The Plaza
#1

“Esko @jooize 18:50
Development fund was for B&C, not Nu. Peg failed quite possibly because reserves weren’t offered. A grant to restore the B&C fund will be attempted (anyone can do it if they research the lost amount).”

This is a quote from “https://gitter.im/NuNetwork/Nu”. It is just ridiculous what’s going on here. @JordanLee distributed bonuses some time ago for “the incredible work guys like him and @jooize have done and would be going to do”. @jooize, someone who is getting paid and fails big time should pay for the failure. Do you know what a fair step would be with regards to B&C holders? If Jordan steps forward and offers this insane bonus he collected for being Nu’s “hero”. Why aren’t you holding him accountable as Vice Chief of Liquidity Operations? Are you fearing that he might dismiss you? Why aren’t you saying that no matter what actually happened, Jordan should offer a reimbursement. At least in the amount of the bonus he collected. We can’t take him to court. You could stop operating until he makes up for the damage he caused or at least offers the bonus he received as a starting point for a looooong journey towards becoming a trusted member of Nu again. You are just fucking quiet when B&C shareholder funds get stolen. Step up you piece of shit! Step up! Tell Jordan that losing funds is a no go and that we can’t just behave every single time a theft occurs like that would be “human”. You want serious business? Let’s deal with people who embezzle or lose funds as if this was serious business (it isn’t). Let’s do it! You can make the first step.

#2

This is an example of how history books get written.
For interested readers there’s other explanations in the forum.

It’s strange that it’s expected anybody except the one who lost the funds should do that.
When you are restoring the B&C dev fund, can you restore it in BTC please? :wink:

The rudeness of you statements hamstrings your efforts of delivering the message. You have valid points. Don’t let them suffer from your angriness, although I have a lot of understanding for it.
Having lost that much money to a mummer is awful.

#3

I already tried convincing him to suspend his liquidity operations in order to force Jordan/Phoenix to answer the questions that were brought up before, but it seems he’s not interested in doing that. It’s practically the only thing that could force Jordan’s hand.

#4

Thanks for that info.

#5

I don’t even. What?

There is nothing incorrect in what you quoted me say. There may be one or few transactions made by Phoenix after the addresses were blocked that you’ll have to confirm when figuring out the lost amount.

Do you mean I should stop operating and keep reserves away from NuBit holders because shareholder NuShares may have been embezzled or if Nu is majority-owned by one or few individuals?

You don’t see what we talk about, which I often think is unfortunate (but no, I won’t simply release our conversations). There’s only so much I can do. It is possible that Phoenix is a master manipulator (though you’d say I’m basic). I don’t see it. It doesn’t make sense, and you have all failed to be convincing in the face of all data I have dug up myself while you sit around and cry!

Take me to court, why? You’re still not saying what for. Because I don’t threaten to quit when shit happens? You think I’ve conspired to get paid? I will never be able to prove that I haven’t, but I have not and do not intend to. I get paid, well. Yes. I’m trying to dedicate all time I don’t spend on otherwise living my life to getting Nu forward! I’m not 100% effective, but I think I do a good job even though I make mistakes. I showed initiative when the peg broke and barely anybody else wanted to continue with the established model. It’s still shocking to me how few recognize that the model was just abandoned.

I stepped up when most just gave up!

Phoenix will no longer hold shareholder funds. The lost NuShares is really the only thing he screwed up in Nu (go find another!). We’re discussing how to smoothly and securely manage in multisig. It’s absolutely the future, but significant amounts of funds will need to stay on exchange anyway until we can just get a notice on our phones and sign transactions from anywhere we happen to be to refill from multisig, without any central trust (like GitHub) is my aim.

You fail so hard at realizing how much work it is I do. I don’t expect anyone to, as I don’t make everything I do publicly obvious. I don’t seek recognition for it, I want it done and well. Since you’ve criticized me for once forgetting to check the other exchange when performing buybacks, who would you have conduct the daily operations I have for almost a year that wouldn’t make any mistakes?

It’s crazy how people have completely lost their minds! I’m glad to work with the few people that see reason. I will along with them, and hopefully others, continue to pursue success for Nu with its unique liquidity model.

You are all welcome not to be part of that, honestly. I want those who understand things are not always as simple as they may appear, skillful individuals that can in the face of controversy keep working according to what the decision makers want. Unless they tell us to build a bomb or kill people. What’s ridiculous is that I have to actually include that line or you’d ask if I would.

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#6

Various ideas were on the table but rejected by one single person who everyone followed as usual. Also, this buyback system was never the original idea and its flaws were pointed out early in this project. However, you saw an opportunity to make the most out of this by aligning as much as possible with the leadership, and it paid off so how should someone blame you.

Here is what I expect to happen: The ponzi structure is only able to survive by selling large quantities of NBT (salary of you + wolly + potential losses in liquidity operations + parking rates, can’t believe this is still a thing), which does not and will not happen given the track record of this project. So the remaining funds will slowly be drained by buying “someones” NSR back and to pay your monthly income until you need to switch to NSR sales and at some point you need to ask staking clients to vote for some huge NSR grant in order to continue what you do. The question is if Jordan lost his entire stash which he provably used over the last years to imitate a decentralized system while making decisions on his own. If that is the case, its not even certain that shareholders will give you those NSR.

So, regardless of your actual intentions, I think you should make a 1 NSR grant and ask for trust of the shareholders now after this “redistribution” of Jordans shares took place. This way you can be quite confident to get your NSR grant passed if you need to do NSR sales. If not, then you are currently just paying other people’s money to yourself although these people do not agree with this.

Tbh, I don’t know if you are a criminal like Jordan or just naive but at this point it also doesn’t matter anymore. If you can share any information about the person behind the JordanLee or the Phoenix account then please send me a PM.

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