Undistributed NuShares

[mhps]

I’m not even going to start thinking about what governments might want to do in the future…

For your thinking pleasure SEC Begins Sending Out Investigation Letters

[masterOfDisaster]

I’d expected things like that that to happen later.
But even if you can barely imagine things, it’s good to try to prepared the best you can…

[JordanLee]

As of yesterday, we passed the 50% threshold for NuShare distribution. Information regarding funds received will be presented after the end of the calendar month.

[crypto_coiner]

Hi @JordanLee,

Did you correctly receive and see my bitmessage sent on Oct. 21 responding to your 6 questions?

Best regards,

-crypto_coiner (Marketing/Business development, Tokyo)

[kschneezy]

I am in the same situation. I sent a BM response message to the six questions on the 20th and am awaiting approval

[Sentinelrv]

Not sure why RobertLloyd and Crypto_Coiner are still waiting. Both are valuable Peercoin community members. Robert has helped on various projects, especially in helping to redesign peercoin.net and content editing. Crypto_Coiner is responsible for multiple Twitter accounts for Peercoin and NuBits. He’s one of our biggest assets when it comes to marketing both coins on social media to new people.

[desrever]

I don’t think there is any discrimination or criteria being applied for answering certain messages. If it makes you feel better, I also sent a buy request more than 10 days ago that went un-answered.

I can understand your feeling, but please be patient, no-one more than Jordan is interested in making this project a success and he is prioritising the right way.

[crypto_coiner]

Txs!

[Sabreiib]

I suddenly find that NSR price is just a little higher than Jordan’s offer.

[JordanLee]

Crypto_coiner and RobertLloyd aren’t being excluded. I wish response times were quicker. I feel quite bad about it and I don’t want people to feel rejected because of it. There are other urgent items that are coming into view all the time competing for my attention. Everyone will receive the price as it was at the time of their initial request.

[JordanLee]

Proceeds from NuShare sales not yet spent on development plus the 200,000 NBT grant I received have the following totals as of the end of October:

BTC: 311.7
PPC: 52,240
NBT: 245,700

The BTC and PPC may be used to support NBT buy walls if needed in the future. I have already used BTC for this purpose on a couple of occasions.

[kschneezy]

Thank you for the update

[JordanLee]

Effective immediately, the price of undistributed NuShares will be 0.005 NBT or the equivalent of 0.0051 NBT if payment is made in PPC or BTC.

Those who have already requested NuShares and have begun the process of approval and purchase will receive the price applicable at the time of their initial purchase request.

[cryptog]

Hi @JordanLee . I received an approval from JL’s representative on Fri 24th Oct (almost 2 weeks ago) to purchase shares.
The message said that I was approved for a certain date (September 28th) but I responded that I requested the purchase on September 25th, date of acknowledgement of my first message by JL, so I wanted to know if I could be approved for September 25th instead.
The representative said that he or she would check with JL but I did not get any message since then.

Therefore, I would like to know how you decide the purchase request date and which market do you use for deciding the PPC or BTC price on that date.
I do not want to try to negotiate the date if you have set rules for that, especially if it may delay the process that much

Tks a lot in advance.

[CoinGame]

which market do you use for deciding the PPC or BTC price on that date.

The price of NuShares from Jordan are not based on any markets. It’s based on the predefined target values which were stated in his original post above

The first 700 million undistributed NuShares will be sold for a total of not more than 1.5 million NBT. This includes seed funding received last January.
The last 300 million undistributed NuShares (plus a small amount that were minted during network bootstrapping) will be sold for a total of not more than 5 million NBT.

[cryptog]

Yes I know that but still you need to define a market if you want to pay in BTC or PPC…Or does NSR have a fixed priced compared to BTC or PPC.

I have been told that I have the choice to choose BTC or PPC price at the time I requested the purchase…

Could someone clarify on that?

[CoinGame]

Ah true. Sorry that slipped me for some reason. @JordanLee will have to clarify that point.

[tomjoad]

Yes I know that but still you need to define a market if you want to pay in BTC or PPC.

My assumption would be that the highest-volume market would be used. So BTC-e for PPC, and maybe Bitstamp for BTC?

[kschneezy]

I have no problem waiting for my purchase of NuShares to occur. The longer wait time further shows a shareholders long term commitment to the Nu economy. However, it would be appreciated if we could get another expected time frame for BM replies.

I sent a BM message answering six questions on October 20th. From there I have been waiting for approval to purchase. I know others like @cryptog are in a similar situation. I wanted to provide an update to others on how everything has progressed.

[GLock]

I am on the same boat, I don’t mind waiting as well; as long as we get an update from time to time.