NuShares $ 2,436,726 $ 0.002923 833,624,530 NSR * $ 3,484 -20.21 %
Including the current buyback #15, roughly 445 BTC will have been used for buybacks. The market cap today is roughly the same as back on November 1st.
I suppose some shareholder sold big chunks. NSR is now more distributed small shareholders, and there is more liquidity on the market.
I think so too, as I can barely imagine shareholders to exit now.
Reducing the investment, collecting a gain of give or take 100% for early investors (only the increased rate, not to speak of the dividends) are good reasons to sell some NSR.
Maybe I’m delusional, but I consider Nu in the best shape since its creation!
There’s still a lot to do to improve e.g. liquidity provision.
On the other hand there’s a lot of achievements.
No, now is not the time to exit.
$ 0.003097 (-17.94 %) $ 707 Volume (24h)
The NSR price is back up to $0.004000. Judging from the increasing buyback market percentages, the price could go up further in the coming weeks.
I noticed today while purchasing NSR that I’m already thinking in terms of the future denomination, where 10,000 NSR will become 1 NSR; i.e. 1 redenominated NSR cost about $40.00 today. Once the displayed NSR supply switches from 800,000,000 to 80,000, the perceived scarcity will improve significantly I think. One NuShare will finally be worth owning.
I’m really excited for the denomination. What is the currently timeline on that? Maybe after Nu 2.1 and before B&C?
I’m excited for it too. I’m not sure what the planned schedule is on it, but I hope it’s sooner rather than later. Every month we wait will make the eventual switch more difficult to coordinate with exchanges, journalists, and our users.
At some point I imagine we’ll run out of early shareholders looking at the buybacks as an exit. I just wonder when that will be. I had assumed it would be earlier, but every time we buy back NuShares, the price gets pushed back down with more selling. It can’t go on forever though, as there are many shareholders who are more long-term minded about Nu. For example, I myself haven’t sold a single time, even for trading. I just keep collecting more every paycheck I get. I imagine there are a lot of other shareholders who feel the same way as I do about our future.
What is your vision for Nu and accordingly what is your Nushare selling plan?
My vision is more of a shared vision based on all the ideas that have been brought up in this very forum, everything that Nu and B&C have the potential of becoming, multiple pegged currencies, SDR, decentralized online wallets, loaning, anti-spam transactions, etc… Many things however are dependent on Nu becoming larger, more well known and adopted.
Unlike normal cryptos, I have no exit strategy because Nu and B&C are designed as decentralized businesses that bring in revenue. Those in Bitcoin and other cryptos can only profit by selling when the price goes higher. Those in NuShares and BlockShares can potentially profit in the future from dividends without needing to sell their shares. They continue to maintain their partial ownership of the business and collect regular profits as we bring in more and more customers.
Again though, regular profits are dependent on whether shareholders can continue working on expanding Nu to more and more people. Without higher levels of adoption and use, we won’t have the NBT purchases and transaction levels necessary to sustain the business. We’re still in the time period of a new business where the owners need to keep reinvesting any and all profit into improving and expanding that business and making things run more efficiently. True profit and dividends will come later as long as we can all stick with Nu and keep working to better the system.
Right now some of the profits is being distributed as dividends though buybacks.
That is one strategy.
Another strategy: the cyclical pump and dump
Another one: positing that nu becomes quite gigantic on the very long term (like several decades) , and working proactively for it, selling every once in a while a bunch of shares to the market (like every 5 years )
I think this is fine though as it’s important to strengthen our NuShares market cap in the event of a huge drop in NuBits demand. With NSR buybacks, the money stays within the network in the form of increased scarcity of NuShares, as opposed to the money completely leaving the system as dividends in the form of an external asset like Peercoin. I think real dividends should only start once we’re in a better position when it comes to adoption and the number of daily transactions. Allowing the profit to leave the system before then is potentially dangerous and unsustainable.
Do you know how much of a technical undertaking it will be?
The most important and difficult part will be getting exchanges on board. We should put it in Nu 2.1 and have it activate at a block like 6 months in the future.
At the moment there’s only two exchanges that have any real NBT volume, how hard could it be to contact them?
Jordan Lee commented on this a few months ago:
I wonder if we can code in some sort of mortorium for non-minting NSR transactions on the NSR part of the blockchain for a period of of 2 weeks, and 1 week into the moratorium is when the decimal point is moved.
$ 0.002999 (-10.62 %)
0.00000801 BTC (-10.66 %)