The State of Period 1 Dividend Payments

[RobertLloyd]

I won’t be voting, but I agree with Sabreiib that the buying wall is paramount

[kschneezy]

I believe I read something previously that the dividend payments will go to all NuShares in existence whether distributed or undistributed. This is a matter of interest to me because I am still in the process of trying to secure undistributed NuShares from Jordan Lee. I am looking for clarification on this matter.

If the dividends are supposed to be paid to the undistributed NuShares how will the shareholders receive these peercoins in the future? Will it in some way come with a purchase of undistributed NuShares or will the peercoins be pegged to nubits at the time of distribution to reduce volatility?

[Yurizhai]

Dividends will be paid to undistributed NuShares just like other NuShares. These Peercoins will be used for development similar to the proceeds of NuShare sales.

From:

Undistributed NuShares

[cryptog]

Though undistributed NuShares minted blocks to bootstrap the network, they will never again be used for minting or voting.

Something I still do not get clearly.
The undistributed nushares correspond to shares that have not been distributed yet.
The voting power of those undistributed nushares was used at the beginning and has been frozen since then till they are distributed, that is, till someone purchases them.
Is that correct?

[Ben]

You understand it correctly.

[cryptog]

OK tks confirming.

[Chronos]

I asked her if she’d have an follow-up about the dividend course of action. She said that some non-Nu items got in the way and made it difficult for her to get the time to draft the motions, but that she’d try to get it done in the morning.

Looking forward to an update here. This delay is not good for the public image of Nu.

[tomjoad]

I agree with @Chronos. The market punished the price of NuShares because an announced dividend did not occur. At one point yesterday NuShares were the only top-25 crypto with a negative (double-digit) price change.

Complications sometimes occur, but to go a week without a further post from @KTm is troubling. Better communication is needed.

[Sentinelrv]

Agreed. Even if it’s bad news or no news, an update post is at least something people can latch onto. No update at all will lead people to make up their own reasons and start rumors. Reputation problems will then follow.

[pennybreaker]

Hey everyone,

I can’t speak directly for Kiara, but what I can tell you is that the final pieces of her live reporting tool are being finalized and tested. I believe she feels like this is a necessary piece to have in place before communicating the specifics of the period 1 dividend. Once this is done, her forum updates won’t even be necessary because you will all be able to visit a simple website for updates.

Please rest assured that we are in constant contact with her and working as quickly as possible to iron out all the details.

pb

[masterOfDisaster]

Don’t you think the negative price change was associated with the trouble of clients version 0.5 being stuck due to network getting south of the difficulty 0.00024414?
…and an emergency mandatory upgrade to solve that problem?
Not that I’d have doubted that to work, but others might have had some doubts…
I’m just trying to say that is not necessarily related to the dividend payment thingies.

[tomjoad]

My comment was only intended to reflect what’s a reality in private-sector organizations; that when earnings or dividend targets are not met, the share price is punished. Given that NSR valuation is heavily dependent on the anticipated value of future dividends, a delayed dividend is a negative signal to traders.

Daily trading is still low enough that the decrease could certainly be attributed to other factors, sure. My hope though is that as our operations scale upwards we have consistent and reliable communication from custodians. From the sounds of the most recent post from @pennybreaker the automated reporting tools are getting closer to completion, which is a positive.

[pennybreaker]

Everyone,

Kiara is extremely busy helping debug the new reporting tool, so I have taken it upon myself to draft up a motion to change dividend period 001. I see no good reason not to get this ball rolling. As you know, anyone can propose a motion and it is up to the shareholders to decide if it should be enacted. Kiara has reviewed this motion and has approved it’s content.

The RIPEMD-160 hash of the motion that you need to enter into your client to vote for this motion is:
3AE690D8C1F6ABE82125A41284655D8B744DA529

Begin motion
Dividend period 001 of Kiara Tamm’s Proposal to Provide Early Stage, Dual-Side Liquidity and Shareholder Dividends, Revision 0.1.0 (https://gist.github.com/KiaraTamm/c30172f9d5d73e970bf2) will be changed in the following way:

Period 001 will be split into two (2) distributions. The first (1st) distribution of 50,000 NBT worth of PPC will be prepared and delivered to shareholders no later than 72 hours after the passing of this motion. The remaining portion of 22,000 NBT worth of PPC will prepared and delivered to shareholders no later than 72 hours after the funds become available from the proceeds of continued NBT sales. After the second (2nd) distribution of Period 001 is paid, the grant operations will continue as outlined in the original proposal, with no other changes.
End motion

Hope this helps!

pb

[Yurizhai]

Thanks for the info pennybreaker! Can’t wait to see the live data tool!

[miner]

Is there an illustrated guide to explain the process to all shareholders?

[mhps]

At one point yesterday NuShares were the only top-25 crypto with a negative (double-digit) price change.

If you are referring to the price changes on BTER or coinmarketcap.com, the prices are all calculated against BTC. NuShare prices should really be based on USD or NuBits. The Nushares price drop was largely due to a sharp increase of BTC price agaist USD. NSR/USD hasn’t changed much.

[pennybreaker]

Is there an illustrated guide to explain the process to all shareholders?

I believe this may be what you’re looking for: NuShares dividend address

[mhps]

I for one am a little excited to expect a divident will come, because it is a milestone, but at the same time I am also concerned that this dividend comes at the cost of the health of the peg if it is not offset by Network revenue. I am glad to see NuBit trading volume is picking up on BTER these days, to above 100BTCs. I would like to see in numbers how much revenue the bots have generated from the spread.

A lot of thanks to Kiara who has worked so hard. Regular little bits of information of what is going on can go a long way calming down the rest of us

[pennybreaker]

I would like to see in numbers how much revenue the bots have generated from the spread.

The bot is not designed to generate revenue from spread. It is designed to keep the price as close to $1 as possible while creating a spread only to compensate for exchange fees. https://nubits.com/about/white-paper

[mhps]

The bot is not designed to generate revenue from spread.

That I understand. What I meant was if the spread has generated income, which can be seen as a revenue even it was not intended. If the spread was chosen such that it was to pay for exchange fee, then such income woiuld be exactly 0. Due to wall collision and other bugs it could well be that bots have made losses to the Network in the initial period. The problems have been / are being fixed and can be seen as one-off. I am more concerned by the long term outlook.