Undistributed NuShares

[masterOfDisaster]

This reminds me of Bitshares DPOS (delegated PoS). I don’t know the implementation details of DPOS, but I like what I expect from Nu with feeds:

• NSR holders remain responsible for minting
• the voting is assisted by feeds and requires less frequently activity
• the responsibility for comparing the data from the feeds with the own preferences remains
• the feeds can be subscribed or unsubscribed to as one likes
• there’s no reason to keep a feed subscribed unless it provides information the share holder finds valuable
• subscribing and unsubscribing to a feed is possible at any time (how to get gid of a DPOS delegate at Bitshares?)

I expect free feeds, but maybe there will be paid ones as well. Providing a feed is not necessarily something that is close to a full time job, although I can imagine that providers of feeds are active in the forum. They need to be active because share holders need to get a feeling for how the attitude of the feed provider is.
The first feeds will be provided by some that are already well-known, though.

One might dream of a future where participation in political decisions can be achieved on such a base!

[kschneezy]

I will make sure requests from @Glock, @Hyena and @RobertLloyd’s requests right away as well, as I am confident they will configure their vote and remain actively involved in the project as opposed to being passive investors.

I have been lurking on this forum daily since its public inception with plans to improve the Nu economy. Yet, currently there is no financial incentive for me to do so, besides a promise of NuShares extending well over 3 months.

There are ulterior profit models to the Nu network that have yet to be exploited. These will have supplementary benefits to NuShares. This is what I am currently working on. Contributing to the Nu network albeit fulfilling, ultimately lacks a direct financial incentive.

[mhps]

@kschneezy has been discussing real (non-crypto) business based on peershares in peercointalk. I would love to see @kschneezy starting the second application of peershares after Nu. Getting @kschneezy onboard Nu is a wise choice.

[desrever]

The first report is being prepared and will be available soon. Additionally, every time the percent of undistributed NuShares remaining crosses even ten percent thresholds (60%, 50%, 40%, etc), the public will be notified immediately. Currently slightly more than 60% of NuShares remain undistributed. As these are distributed, the sale price will increase within the limits described above.

Undistributed NuShares will be sold in lots typically 5 million in size to people who have demonstrated skills that will be helpful to the advancement of the network. We are in a sense picking business partners. People will need to contact us via Bitmessage at BM-2cX8PF84t2uhvtWE9E387V2f5Fz5iF8uUj to be screened. 5 million NuShares are presently 9,000 NuBits, or 0.0018 NBT per NuShare.

I think that the OP should be edited to reflect the current status of things. This is the most read thread in the forum.

[wengone]

I send the bm msg on 17th OCT,and another msg is on 07 DEC,But i don’t receive anything;If i can’t buy NSR ,please reply for me ,thanks!

[Hyena]

Because undistributed nushares are sold at fixed $ prices, is that the reason why NSR goes down agains BTC each time BTC has made significant upward moves? This puts us in a very interesting and uncommon situation amongst other altcoins. Usually altcoin prices correlate to BTC. I’d even say that such independence from BTC is actually a very good sign because that essentially says I’m not holding all my eggs in the same basket.

[mhps]

@Hyena

very interesting and uncommon situation

NuShares vs the Rest

off topic

[manfred]

I want to sell a larger amount of NuShares (a few 100k). Is there a good possibility outside the exchanges?

[JordanLee]

700 million or 70% of the 1 billion NuShares initially created have been distributed.

[tomjoad]

700 million or 70% of the 1 billion NuShares initially created have been distributed.

I’ll let Coinmarketcap.com know. Expect our ranking to jump a bit.

[tomjoad]

Coinmarketcap.com has updated our supply to 708,819,902 NSR.

[cryptog]

Public monthly reports including the following information will be produced:

Number of undistributed NuShares remaining
Total funds raised from the sale of NuShares and funds raised in the last month
How many funds were spent by category. Earnings of individual contractors will not be reported.
How many funds remain unspent and what form they take (NBT, BTC, PPC)
The value of all remaining funds in NBT.

Could we have an update on the above?
Tks!

EDIT: @JordanLee If you have some time, could you disclose the monthly reports for April 2015? in “Public monthly reports including the following information will be produced:”

[cryptog]

How many distributed shares so far?and how many remain undistributed? how many are waiting to be burnt?

[cryptog]

Now that the protocol shift to 2.0 has passed, my understanding is that the remaining NSRs will be burnt, which makes the total NSRs in circulation amount to roughly 850m; is that correct?

[masterOfDisaster]

My understanding is that 2.0 is being tested (have a look at the remark regarding testnet!) and not yet the current version on the network.
Only after 2.0 is the current version on the productive network the requirements for burning the NSR are met.
If the would be burnt now, there couldn’t be any created if need be.
The NSR burning has to wait a little longer.

[cryptog]

I am not sure.

Nu 2.0 release now on test net

Our 2.0 release has been deployed to test net and the protocol switch date has passed

And

[Passed] Motion to end LPC operations of KTm, Jamie and NSR sales of Jordan

Within 60 days after the protocol is altered to permit custodial grants of NuShares, Jordan Lee must burn all undistributed NuShares.

I interpret that the protocol is altered (regardless of its testing), therefore JL must burn the remaining undistributed NSRs (150m NSRs ?)

Let us ask him directly.

[cryptog]

Nu 2.0 has been deployed to the production chain.
JL has now 60 days to burn the remaining NSRs.

[cryptog]

How many NSRs remain undistributed at this stage and need to be burned exactly?

[pennybreaker]

Nu 2.0 has been deployed to the production chain.JL has now 60 days to burn the remaining NSRs.

I too am excited to see this happen, but just to be technically correct, don’t forgot about …

Nu 2.0 release now on test net

• Protocol voting - Clients now vote for their protocol version. Each version of the reference client has a protocol version number hard coded in it. This number is placed on the blockchain in the coinstake transaction when a block is minted, similar to how other votes are cast. This vote is not user configurable, so it has no user interface components. When 90% of the last 2000 blocks have voted to increment the protocol version AND any applicable date criteria for the protocol change is met, the protocol will change. If the percentage of the last 2000 blocks voting for a protocol version falls back below 90% threshold, no action will be taken. The protocol version in effect cannot be decremented.

The protocol will not change until 90% of users have upgraded and the switch date has passed, which is the 25th of Aug.