Undistributed NuShares

[buzzdave]

FYI, a large NSR withdrawal request is taking more than 24 hours from BTER. 50k withdrawals are still fast. I’ll update when I see it happen.

[buzzdave]

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.

No different than being rich in any other context (fiat, corporate owner, etc).

Maybe there’s a way to distribute the custodial power within my organization (think multi-sig for custodians).

[tomjoad]

FYI, a large NSR withdrawal request is taking more than 24 hours from BTER. 50k withdrawals are still fast. I’ll update when I see it happen.

I think BTER has stated in the past that they do larger withdrawals manually for “safety” reasons. It certainly can be frustrating.

[buzzdave]

I think BTER has stated in the past that they do larger withdrawals manually for “safety” reasons. It certainly can be frustrating.

Makes sense, thanks!

[Ben]

Their NXT “situation” earlier this year may be part of the reason.

[Sabreiib]

I think it riskier than usual, after all we are issuing money! Do you know the story of egold and liberty reserve?

[Ben]

We are not “issuing money.” NuBits are not USD. They are digital tokens that do their best to approximate an exchange rate of 1:1, but they are not intended to imitate or mislead people into believing that they are replacement for USD.

It’s an important distinction.

[buzzdave]

FYI withdrawal went through as expected.

[RobertLloyd]

Hello, Jordan
Would it be possible for you to give an update on the sale of NuShares? I sent you a bitmessage on 29 Sept, and converted some PPC to NuBits in preparation of a purchase, but have yet to hear. I don’t mind the waiting, as such, but the uncertainty is distracting
Thanks
RobertLloyd

[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.