To me it is clear that there are no other crypto-asset innovating as much as Nu and for this reason, I am holding all my shares because I want to vote and contribute substantially to its development.
It is true that NuBit has not fulfilled yet its mission since there is still no use of it as a currency (as far as I know).
Therefore, having a decreasing NSR price is not particularly surprising.
However when NBT starts to be used a daily currency, I certainly expect the price of NSR to ramp up.
I was pretty bummed out after our exchanges got hacked and we lost all our volume, but a lesson was learned and weāve spent the last month or 2 changing strategies to decentralize liquidity. These liquidity pools are really exciting and I think they could become a game changer for Nu. Because of this, Iāve personally been waiting for a price point like this so I could buy even more.
My guess is the low buy wall had an effect. Shareholders need to be quick to raise rates before support gets as unbalanced as it was a day ago. A problem with incorrect liquidity info appears to have been a major contributing factor to the problem. I have asked @desrever to sort out the problem with @erasmospunk if necessary so liquidity info will be more reliable in the future.
Yeah, I think we can look at the bright side ā itās a rare opportunity to pile up cheap nushares right now. We can already see the effects of this as the price has risen to $0.002682.
My guess is that speculators search for patterns in all coins and does what they do to maximize profit. When they see a down trend momentum with thin volume they give it a hard kick and ride it.
After double side (NBT and NSR) burning is implemented, NSR will be a leveraged asset and will probably fluctuate more wildly, hopefully mostly upward in the next few years as Nu is just starting.
Yeah that would definitely be cool. So, instead of distributing peercoins as dividends, we would buy nushares from the open market and burn them? Any reason why this wasnāt implemented in the first place because it seems as if the current dividend distribution method is not going to be used after nushares burning.
From what I understand, the dividend mechanism will still be used, but only after Nu really starts to make money. When weāre in the part of our economic cycle where NuBits demand is high, the money made from selling newly created NuBits will be used to buy back shares and burn them. That money should never be used for dividends though because that doesnāt exactly qualify as profit. Once Nu starts to earn profit from real business, then the dividend mechanism can start being used again. Until then, shareholders have a lot of work to do to figure out how to actually earn profit for the network. Does anyone else share this view?
