Undistributed NuShares

buzzdave 2014-10-24 02:13:51 UTC #42

BitMessage doesn’t even start for me. I don’t get much time to mess with it before I need to move on to other things.

tomjoad 2014-10-24 02:21:08 UTC #43

Which system are you installing it on? The GUI will occasionally take a few minutes to load up if it’s a fresh install.

BitMessage just released 0.4.4 too at https://bitmessage.org/wiki/Main_Page . Shouldn’t take more than 5-10 minutes to get it loaded and operational.

CoinGame 2014-10-24 02:28:22 UTC #44

For people having trouble with the bitmessage software you can try using bitmsg.me. It’s basically a web based bitmessage client. It give you more of an email-like interface. I’ve successfully tested it against my own BM client, and messages were sent/received within minutes.

Make sure to check your spam inbox for the confirmation email. Gmail seemed to mark it as spam and I was a bit clueless how to login till I found the email in there.

buzzdave 2014-10-24 02:30:02 UTC #45

First few tries were on my Win7 box. I tried the newest version and an older version that someone mentioned on the forum. It fired up a couple times (maybe 2/10 tries), but never got another response from Jordan and/or team.
My other machines are Win8. Something called SmartScreen blocks BM from running.

I have no need to hide my identity. I don’t understand why Jordan and team need to do this. How can they expect me to invest real money into a project without meeting the team?

tomjoad 2014-10-24 02:35:52 UTC #46

Our team is comprised of veteran members from the Peercointalk community. We’ve each established our trustworthiness and reputations there over the past year with the pseudonyms we use. It appears many individuals have already invested in Nu with Jordan.

Nu aims to be fully decentralized and without borders. If you’re looking for our real-life identities before investing this is not the project for you.

buzzdave 2014-10-24 02:48:31 UTC #47

What does hiding your identity have to do with being fully decentralized and without borders?
This thread isn’t the place for me to start a rant about the identity thing. I’ve read most of Jordan’s initial posts about Nu, but perhaps I’ve forgotten his justification for it.
I’m a Peercoin supporter from the beginning, but unfortunately I haven’t had time to follow Peercointalk in order to familiarize myself with the team. I’m sure there are others like me who are interested in this project, but haven’t been tuned in enough to know you guys.
It seems a shame to make investors fit an uncomfortable mold in order to participate.

tomjoad 2014-10-24 02:54:32 UTC #48

I can only speak for myself, but I think most if not all of the team would be happy to share what they do on a day-to-day basis and the roles they fill. The only aspect that is private is related to identities.

What types of information would you like to know about us? Perhaps a separate thread should be set up to answer these types of questions.

Ben 2014-10-24 03:59:08 UTC #49

I use my real name. I’ve worked with Jordan Lee and others for the last 10 months on this project and only have met one of them in person.

It’s not for everyone, and sure, I’m curious who they are, but it hasn’t gotten in the way of what we do. To date they’ve all been stand-up people who do what they say they will.

If the requirement of using BitMessage to communicate is too troublesome for you to bother with then I would recommend buying your shares on the open market.

mhps 2014-10-24 04:50:34 UTC #50

Even Bitmessage installer doesn’t start for me. I did try bitmsg.me but when BM network was attacked, it fared worse. I think transactional activities (paying fund and receiving shares) can go through BM. Other exchanges can go through forum, PM, email, chat etc. if both parties feel comfortable.

Ben 2014-10-24 04:54:43 UTC #51

That is the only thing that has a requirement to use BitMessage.

For those of you having a problem getting it to run, and don’t have ready access to a different computer, VirtualBox can easily run Linux and is it’s pretty easy to set up.

masterOfDisaster 2014-10-24 05:08:42 UTC #52

Hi @buzzdave!
I’d like to share my view regarding anonymity.
Being known means being controllable in other ways that you can be controlled if you are anonymous. That is true in general. Particularly for Nu it means that people in important positions (known as a big shareholder, custodian, dev, etc.) can become the target of blackmailing, threats, etc.
Anonymity can protect from that.
I’m not even going to start thinking about what governments might want to do in the future…

That’s why staying anonymous can be important.
I understand that you feel uncomfortable with trusting people with your money that you don’t know. I recommend to trust your gut instinct.

Allow me to ask you one question:
how would you describe your future role as a holder of NuShares?
This question crossed my mind when I was thinking about your trouble with Bitmessage and your way of dealing with that…

buzzdave 2014-10-24 06:42:06 UTC #53

I have been aggressively acquiring shares. However I’m paying a significant premium to do this and it doesn’t establish the business relationship I’m interested in…not to mention I can only pull 50k NSR per day off exchange…

buzzdave 2014-10-24 06:52:03 UTC #54

Believe me I know this. However I felt strongly enough to step forward in the community in order to help Bitcoin go mainstream. Many others have done this and we all know its a risk.

If my identity is known, does this impact my ability to be a large custodian in the future? I had hoped to participate in this activity.

One of things I like about the team is that they have open discussions and disagreement. Chronos proposes something, others sometimes disagree - its good to be transparent in this way and can elicit a solution.
My calling out the BitMessage requirement is simply that - I’m sharing my perspective from the viewpoint of an interested investor who likes your project and wants to participate, but is encountering roadblocks that are frustrating.

lg15x 2014-10-24 07:46:04 UTC #55

This situation has just been changed. Now, you can withdraw 1 million per day.

buzzdave 2014-10-24 08:03:17 UTC #56

Excellent - thanks for letting me know!

lg15x 2014-10-24 08:38:45 UTC #57

My friend is buying NSR on Bter, he complant the withdraw limits and Bter change it.

Sabreiib 2014-10-24 10:47:02 UTC #58

Being a custodian may be dangerious in future if you are granted a large number NBT. You may be the target of Hackers, criminals and even government. It sounds a little gloomy, but when you are wealthy, be careful.

In future, Nu is becoming a Distributed Autonomous Corporation(DAC) where you don’t need to trust anyone else just like when you download files with bittorrent protocol on internet. Are you friend of other bittorrent users? Don’t have to be, however, you accomplish one task in team work: share files.

Chronos 2014-10-24 18:22:02 UTC #59

Jordan, does this new price align with the above commitment? 1.5M / 700M = 0.00214 NBT, significantly less than the new price.

Thanks!

tomjoad 2014-10-24 19:03:30 UTC #60

Remember how weighted averages work. NSR were sold for below 0.00214, so they will need to be sold above this price too. With approximately 530M of NSR undistributed, that means 470M NSR have been distributed at prices below 0.00214, and 530M will be above (of which 230M will be part of that 1.5M commitment)

Chronos 2014-10-24 19:25:33 UTC #61

I think everything is fine; I just thought I’d mention it, since the price now exceeds the average price of the commitment.

Two comments:

It is the mean price, not the median, that is applicable here.
Jordan’s statement outlines an upper bound, not a target or lower bound.