Wall Observer - NuShares price movement tracking & discussion

[crypto_coiner]

Those in NuShares and BlockShares can potentially profit in the future from dividends without needing to sell their shares.

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 )

[Sentinelrv]

Right now some of the profits is being distributed as dividends though buybacks.

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.

[Yurizhai]

Do you know how much of a technical undertaking it will be?

[Nagalim]

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.

[Yurizhai]

At the moment there’s only two exchanges that have any real NBT volume, how hard could it be to contact them?

[tomjoad]

Do you know how much of a technical undertaking it will be?

Jordan Lee commented on this a few months ago:

[Passed] Reduce the total displayed supply of NSR by 10,000

I estimate this will cost $2000 to code, test and deploy. If it were passed quickly, it could be included in the Nu 2.1 release.

This is mostly about how NuShares are presented to users, so others are just as qualified to decide if this is a good idea as I am.

On a technical level, there are no significant problems with doing this within the client. As noted in the original post, the main potential for problems regard changing external systems that use NuShares. Changes will need to be made to other wallets such as Coinomi. Any system that uses NSR in automated fashion will need to be changed as well. This primarily consists of exchanges, which will need to synchronize their update of the Nu client, their internal database update and possibly an update other internal code. The main danger is exchanges updating their client but not updating their internal NSR ledger. If someone has 30,000 NSR on deposit at an exchange and only the client is updated, then they would be able to withdraw up to 30,000 new NSR, which would permit them to withdraw 10,000 times too much value. So it is very important that exchanges divide the number of NSR in their internal databases by 10,000 as part of this upgrade. If this did go wrong at a particular exchange, it is possible for shareholders to cover the exchange loss if they chose to.

Because of the complications this creates for external systems, we cannot make this change later, once there is wider use of NuShares. This is our last chance to do this. Similarly, once it is done, it can never be undone. There will never be a stock split for NuShares due to the complications created for external systems that use NuShares.

This also makes B&C and Nu easier to maintain because they will have more similar code bases.

I believe the benefits of this change outweigh the risks.

[woodstockmerkle]

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.

[crypto_coiner]

$ 0.002999 (-10.62 %)
0.00000801 BTC (-10.66 %)

NuShares (NSR) price, charts, market cap, and other metrics | CoinMarketCap

[crypto_coiner]

$ 0.002718 (-11.94 %)
0.00000726 BTC (-11.93 %)
https://poloniex.com/exchange#btc_nsr

[CoinHoarder]

No buy support… there is literally 2 BTC on the buy side on Polo.

[jgeewax]

Hmm… looks like ~20 BTC currently (~$8k USD)

[Nagalim]

$ 0.003350 (+16.03 %)
0.00000798 BTC (+16.27 %)
Cause this thread is always so cynical.

[huafei]

$ 0.002630 (-2.03 %)
0.00000602 BTC (-4.51 %)

new lower

[crypto_coiner]

Who is selling and for what purpose? In any opportunity to buy

[huafei]

$ 0.002385 (-15.60 %)
0.00000583 BTC (-12.69 %)

will buy some

[mhps]

Someone dumped 4.7M NSR. Hope these shares either stay in circulation to increase NSR liquidity, or go minting.

[masterOfDisaster]

NSR price stayed remarkably stable.

[crypto_coiner]

This panick sold perhaps because of this:

USD walls only?

Nu can’t increase demand by will, but can reduce costs.Nu won’t survive for very long, if the (liquidity) costs can’t be reduced significantly.

Not performing the paradigm shift endangers Nu and can lead to its bancruptcy.

from USD walls only?

[Nagalim]

Meh, i doubt it. Probably someone concerned about Nu bankruptcy, sure, but i doubt it’s due to that post individually. Like @mhps said, I hope this increases our mint difficulty and voting rates.

Damn, someone really wants out.

[nikolaso]

Another big dump price is very low, 572sats now