Reply to FLOT NSR Operations (buy side) that turned out to include thoughts I’d like to share, and the discussion belongs in another thread.
@masterOfDisaster: All of this is not directed at you. I’ve wanted to write it for a while and your post successfully made me. Thanks!
Glad to hear, I want you around. I will say though that I think you’ve acted unprofessionally since the firing thread.
Will you sign the FLOT NSR transaction? NuShare sales are mandated.
I don’t see how it would make sense for an entity who’s invested that much to run Nu into the ground. I think they believe in the model most of us subscribed to but didn’t fully execute.
Whether the model is flawed is always up for debate. It’s the one I think has most potential at this time. If there is a new business model figured out and presented with the level of detail suggested necessary, it should always be profitable enough to switch to or build from anyway.
Regardless, Nu’s governance model was never a secret, and what is happening is that shareholders seem to be in favor of @Phoenix’s proposals. I want to point out that although @JordanLee likely is in control of a large portion of the network, he has previously failed to pass motions.
I think @Phoenix is @JordanLee. It doesn’t matter much. @Phoenix has outlined what he wants to do, and shareholders will still have the final word to fire him. A risk being the granted NuShares being run off with and sold for profit (about 14 BTC at Poloniex). I think someone who presents motions and recommendations at the level @Phoenix does probably believe in the project long term.
That the 20 M NSR are intended to take over the network is paranoia to me. If we can’t see on the blockchain whether that is happening, have him send the whole balance back to the same address every week to prevent minting.
If 2% gives @Phoenix sole control of the network, they are already in control of quite a large part already. 14 M NSR are up for sale on Poloniex for 18 BTC which is 12,000 USD. I assume that wouldn’t be too much for someone who allegedly scammed the network through NuShare buybacks?
Things may not have happened exactly because of what @JordanLee and @Phoenix suggest, but the base failure to follow the model did. If one wants to file that under FLOT discretion, fine, but we didn’t follow the model.
@Phoenix wants to execute the model most of us believed in, and to do that without disruption or inaction from others who may not yet understand the model doing it the proposed way reduces friction.
Assuming it does work, I believe Nu will over time decentralise control again.
I’m going to act by what the effective shareholders of Nu decide. I will state my thoughts, ask dumb questions, and continue with proper procedure to the best of my abilities.