Undistributed NuShares

[Sentinelrv]

@JordanLee can you please confirm that I will eventually become shareholder. Do you have any intention of selling them to me?

I’m on the waiting list since 14.09.2014, I’m not sure what to think so many months latter.

I do not want to be pushy or anything, it has just been so long and communication with you is really hard. I just want to know should I give up or keep trying.

Thank you.

I just wanted to say that I talked to Peerchemist on the PeercoinTalk chat. He seemed to have given up on obtaining NuShares, but I encouraged him to keep trying and to make this post. I’m not sure how he fell through the cracks, but I believe he should be offered the original share price of $0.0018, since that is when he initially contacted Jordan and received a reply. Peerchemist is an invaluable member of the Peercoin community and is responsible for creating Peerbox and pushing for lots of different things. Without NuShares, he has no motivation to contribute his massive talents to NuNet. I believe he has proven himself and deserves to have a chance at being a shareholder. Please consider this Jordan.

[Chronos]

I’m on the waiting list since 14.09.2014

September 14. It is now January 9. That is nearly 4 months, with many unkept promises in between, such as this one from October:

Sorry to report that the queue of unhandled NuShare purchase requests is now 12 days long.

How to explain this 4 months of waiting? I can think of only a few possibilities, but nothing makes sense.

• Maybe Jordan does not have the NuShares
• Maybe Jordan will never sell at the promised price, because market value is now higher
• Maybe something else that I don’t know about

@JordanLee What’s the explanation?

[tomjoad]

Maybe Jordan does not have the NuShares
Maybe Jordan will never sell at the promised price, because market value is now higher

It has been well documented on these forums that BitMessage was not working properly for many of those months. Even in my own communications with Jordan Lee there was a period where the majority of my communications were not arriving. Suggesting that Jordan does not intend to keep his promises - when at no time in the past has he failed to do so - is needlessly antagonistic.

[Ben]

Suggesting that Jordan does not intend to keep his promises - when at no time in the past has he failed to do so - is needlessly antagonistic.

That may well be, but I hope that Jordan recognizes that these questions are bound to be asked and that some form of action is taken to clarify the situation.

[Chronos]

Suggesting that Jordan does not intend to keep his promises - when at no time in the past has he failed to do so

If you were one of the people waiting in this thread, such as peerchemist or kschneezy, then you might feel that, in this case, he has failed to fulfill promises.

[tomjoad]

We have put the brakes on NuShares sales recently as we wait for data feed functionality that will allow the network to gracefully handle a greater degree of centralization. We are very close to having a public beta for version 0.5.3, which supports the consumption of data feeds. So, soon distribution will continue in earnest. Everyone who has requested shares when they were a lower price will get the lower price.

@Ben in my mind this quote provides clarity. We have seen a couple motions recently stall in the 40% range that most believe would have passed easily. Without data feeds, our network risks paralysis if we continue to distribute NSR to people who may not be as active as they promise to be.

The second half of Jordan Lee’s quote clearly states “Everyone who has requested shares when they were a lower price will get the lower price.” While I’m sure I would be eager to receive them as well (as @Chronos points out), clear reasoning has been provided as to why NSR distribution are in a temporary freeze.

[masterOfDisaster]

@Chronos’ choice of words might have been harsh, but I think that the topic itself needs some clarification.
If the initial offers to purchase NuShares were to be made to people who can contribute to the success of Nu in one way or another, I agree with @Sentinelrv that @peerchemist is one of those.
I wouldn’t dare to claim that there are bad intentions involved.
The easiest way to solve this would be to communicate with those who are waiting.

It might appear as an easy choice to receive the NuShares now that they are way above 0.0018 NBT, knowing that they exist, that Nu and NuBits work, that this is a concept which seems to fulfill a need.
For those who think that way, I want to remind them that this choice was made long ago!

[cryptog]

@Chronos I suspect he got extremely busy, more than ever.

[mhps]

JordanLee:
We have put the brakes on NuShares sales recently as we wait for data feed functionality that will allow the network to gracefully handle a greater degree of centralization.

This quoted post was made 14 days ago. We are talking about a 4 month problem. It doesn’t leave a good record.

[GLock]

Still waiting since September too…the major problem is that people here are willing to buy shares in lot equivalent to few thousand USD, keeping on hold such a big amount of money for a long time, without knowing when and if it is going to happen is very frustrating.

I hate to raise this question but what happens if it takes other 4 months to get the NSR credited after making the payment? And since communication is so slow using BM, how long would it take to solve a problem with a transfer or to finalize a transaction?

Sorry to ask these questions but I think a bit more clarity and first of all a certain timeframe to complete transactions after approval is very much in need to keep the very high standard that the whole NuBit project has.

[cryptog]

@GLock Sorry to hear that you have not gotten your shares yet. I got the shares on the same day as the payment day.

EDIT: content

[Hyena]

Just wanted to add that you can “git pull” updates even if the version number has not changed. It seems that some updates have been made to 0.4.4 but they haven’t increased the version number. Also, I’m not sure how BM handles DOS but if it is anything like Bitcoin then running BM from behind a VPN may be risky. If your VPN IP gets banned temporarily by the BM network then maybe you will be cut off from the network? Anyway, just to be sure I’m currently running BM using the IP of my ISP until I receive my nushares.

[Colin]

Hello Jordan, this is Colin,

Sorry to bother you with support requests. I would like to check the status of my request (NuShares purchase request that I sent you on 27th of September, 2014)
I got one reply from you then, but since I’ve been waiting for a few month without news, I decided today to send my message again through BM.
So this message is just a notification to tell you that you should get that BM message, since I’m still not sure whether I can trust BM.

Best regards

[RobertLloyd]

I sent a request on 29 September 2014. I re-sent it recently and that message was acknowledged as received on 6 January 2015
I echo Glock’s point that this is not a trivial amount of dollars, and uncertainty causes frustration, and is costly

[JordanLee]

NSR distributions have been made within 24 hours of receiving payment in almost all cases.

[JordanLee]

NuShares have been distributed to a number of people I am quite confident will configure their vote properly without data feeds being available yet. @peerchemist is chief among those who have not received NuShares due to dropped communications. I received a frustrated Bitmessage from him some time ago and I replied with a detailed message expressing my admiration of his work and my hope that he would do similar work for Nu as a shareholder. I gather he didn’t receive that. Bitmessage is working quite well now, so please try again and I will give it my immediate attention. 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.

It is not hard to understand why I want to wait to distribute NuShares in most cases when you see posts like this:

Dividends? • r/NuBits

Hi, I just purchased some NSR and have them in my wallet. I have my
wallet encrypted but unlocked for minting. Does is matter that it’s
minting? NSR doesn’t get minting rewards does it?

LOL!

Data feeds are a part of the original design and we can develop them to where they are enabled by default upon initial installation without favouring any specific data feed provider (randomly select data feeds where chances are weighted by current popularity). I expect we will have the first data feed betas available for at least some OSs within days. So data feeds are coming very soon. I ask for everyone’s patience and hope you can understand my desire to avoid the chaotic effect uninformed voting has on the network.

[masterOfDisaster]

I ask for everyone’s patience and hope you can understand my desire to avoid the chaotic effect uninformed voting has on the network.

As we don’t have “void vote” minting, waiting for feeds seems to be the best choice.
Uninformed voting could very well ruin the whole Nu by making it impossible to get any custodian or motion vote above 50%…

[peerchemist]

Okay. BM sent @JordanLee

[Sentinelrv]

I’ve been wondering, can anyone create a data feed? And I’m wondering how many feeds will be available at launch and who will be managing them. For example, CoinGame or Ben might manage their own data feeds and if we usually agree with the voting decisions of one person more than the other, we can choose which person’s feed to use. This assumes you wouldn’t want to manage your own voting. Or maybe you’re going to go on a long vacation and don’t want to be bothered with it, so you defer your voting to somebody else while you’re gone.

[CoinGame]

Anyone can create a data feed. We’ve been working with some community members to get feedback on the implementation and documentation. There will be multiple resources available with the beta release to inform people how to use data feeds and how to create them. I think data feeds is one of the most exciting aspects for the future of Nu. It adds an entire layer above the network for services to be developed by community members that will support ecosystem.