Exactly. This is perfect.
We must have buy orders up at 0.99 or more. The sooner the better. Please liquidity providers, do this now. Now.
I have many questions. Iâm tired from todayâs personal activities, so I apologise if Iâve confused something.
Park Rates cannot be effective unless customers believe they will be able to cash out without losing their profits into a wide spread. Do you agree?
Do you want nothing or part of liquidity at tight(er) spread?
I understand you want funds supporting a degraded peg? Why? For marketing basically? For revenue from those who find it worth the premium to exit NuBits (similar to RNA?)?
Customers will in worst scenario have to wait for NuShare sales to fill their order in any of these cases. This is unavoidable if liquidity runs out, which many but not all assume it will.
Yes. This is why a degraded peg canât work. It nearly completely destroys tier 5 and impairs tier 6, while leaving tier 4 under-utilised.
Everything to Poloniex at once? Is there in your opinion any reason to withhold any liquidity?
Should we spread the liquidity across exchanges, or is that not important or useful?
@FLOT: Do we have gateways at 1% or 2% spread?
2% spread equals 1% offset, which results in $0.99 and $1.01, correct?
The only reason not to do that is if we werenât prepared to turn on the NSR sales quickly. We have to be prepared to refill tier 4 quickly with NSR sales. FLOT, can you help us there and tell us what you are prepared to do?
An intermittent peg is better than none at all. But I donât accept that we will have to have an intermittent peg at this point. We might just be able to keep continuous liquidity up.
To me, the biggest key is we have to convince NuBit holders that we will defend the peg with everything we have, forever, from this moment. NuShare holders must take the hit. That is what we said we would do.
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Perfect. I was just going to propose a 100 million NSR grant myself. So we agree on something. We ought to pass that right away.
I was afraid youâd do that instead of spending 30 seconds to create a new FLOT NSR address, like I proposed.
Thatâs why made it my top priority, even more important that fighting all these accusations.
Iâm a strong proponent of NSR sales to support the peg. Thatâs why I fought fiercely against all motions that try to limit it.
Can you please tell me why you prefer accusing me to, keeping me busy fighting accusations instead of doing whatâs necessary?
How long will you wait until you propose a motion to operate NuBot on Poloniex at a tight spread?
Want me to do that as well, as always reliable, and cheap or for free?
Itâs good to have âincompetentâ idiots like me that keep this thing running, only because they believe it can do good.
Beat me to this NuBot motion. Do it!
We need a plan for daily NSR sales of the FLOT NSR reserve in case they are needed. If there is no liquidity in tier 4, I would suggest selling one million per day and putting the proceeds immediately on the NBT buy wall at Poloniex at 0.99.
Iâm sure you recognized my attempt to automate putting the proceeds from NSR sale at Poloniex automatically on the buy wall.
And you know why it didnât work this way, right?
Whereâs your NuBot, that runs at a tight spread at Poloniex?
Provide FLOT with NBT and BTC address and youâll receive funds!
Whatâs the point of him operating a gateway? We already have gateways that are supposed to obey shareholders and possibly FLOT, right? Is the point that we donât have gateways by people who wouldnât have been fired from liquidity operations by this motion?
Is there anywhere FLOT can send funds right now to be traded at 1â2% spread? Is NuLagoon Tube a bad idea? They operate at 0.1% spread but without fee for FLOT.
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This motion already has 22% support over the last 100 blocks. Thatâs more than most motions that eventually pass get after just one day.
Liquidity providers that would be adversely affected by this motionâs passage may do well to change their behavior to address the underlying concerns that motivated the motion. By doing so, they reduce the probability of it passing.
I want to do him more than accusing people who worked their asses off.
I want him to make a practical experience with liquidity provision.
Itâs good to see things from an architectural perspective.
But would you trust an architect who doesnât how actually to build a house?
Jordan made a motion, that would have enforced a tight spread for all new operations.
This motion was not on itâs way to passing, although an impressive support with an insanely high SDD was pushing it.
I made an alternative proposal, that explicitly allowed gateways at an increased spread in case all else fails (btw. - all else failedâŚ).
It seems Iâve fallen in disgrace allowing myself a well-informed opinion - and even worse gathering support for it.
Make the shareholders pass a grant and I adjust the spread as soon as I can.
Convince the majority of FLOT, that support at $0.95 is worse than no support at all after the BTC are gone, and adjust the spread as soon as I can.
@Cybnateâs PyBots, although she indicated that sheâs not comfortable dealing with more than $15k funds in total (number is off the top of my head).
Hell, if Jordan continues to prefer making accusations and preparing grants that pay him 100 million NSR rather than making a new FLOT NSR address and crafting a NuBot motion, Iâll concede and make that motion.
But I will make this not for free nor cheap.
@JordanLee last call: beat me to a NuBot operation at Poloniex.
Provide us with this service as cheap as I provided it so far. Otherwise I ramp up an operation.
Iâll make you responsible for the compensation Iâm going to request 
We suggest NuShareholders use NuLagoon Tube as one of the places to restart pegging.
Compared to Polo, there is no front run risk in Tube, because the trading price is not determined before trade exact happen. The spread can be temporarily set to 0.5% or 0.25% according to NuShareholdersâ will.
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I trust my own reasoning in combination with the arguments Iâve seen, and conclude that youâre wrong this time. Youâve been right many times before, but I havenât been convinced you are now.
Iâm not sure what NuLaw says about spreads, so that may be accurate. I believe withholding liquidity is against NuLaw.
@Cybnate: Is the gateway operating? Is that a 0.7% spread?
Iâd prefer using NuLagoon Tube.
@henry: What do you say about 1â2% spread? 1% spread (offsets 0.5%) seems to be closest to consensus, but of course open to other interpretations and suggestions.
Vote for 1% spread. Iâll craft and sign a 5-of-8 transaction in FLOT BTC for Bitcoins to either @Cybnateâs gateway or NuLagoon Tube when weâve agreed to a spread there.
Meanwhile, FLOT NSR needs to figure out how to sell NuShares. @Dhume @ttutdxh @cryptog @mhps @masterOfDisaster
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So when T4 runs dry supporting a tight peg in a BTC bull run, T5 and T6 are in your opinion enough to support the peg from failing?
Do you think we would be in a better position having no BTC left for many days now?
Do you think $0.95 still being kept after 10 days or more (sometimes even better than $0.95) is worse than no support for days?
Do you realize that NSR plummeted before the peg even had a dent?
Cause and effect have been inverted successfully by Jordan.
Parking was not attractive even when the peg was perfectly fine. Blaming a drop of buyside to $0.95 for being the reason of parking not being successful is almost ridiculous.
You are aware that almost all parked NBT are from BCE development funds as it seems? I wrote a thread to get some information about BCE.
If T5 doesnât work as expected (we might need even higher park rates), how much hope do you put on T6?
Why did @JordanLee not do all that was possible to convince shareholders to increase the park rates?
Why did he not advocate an accelerated NSR sale (the current plan was based on an approved motion)?
There are many possible reasons.
A plausible one is that he needed someone to blame to disctract from what was the cause.
Why not testing the waters first? Then again, this would have saved us from this thread, if only I hadnât opposed the infalliable architect successfully with a motion that explicitly allows increased spreads and draw support from his.
Why not following this recommendation:
Blind belief brought us where we are now.
We would have 0 BTC left, a failed T5 and no sufficiently fast NSR sales to support the peg at any rate, if you extrapolate the data we could gather in the first days of the BTC bull run.
Still I say, letâs try.
Why not voting on this:
The fastest way to find out.
@cryptog, @Dhume, @dysconnect, @ttutdxh, @woodstockmerkle, please help!
1% spread that requires no condition is good for NBT/USD.
Itâs madness for all else, including NBT/BTC.
Btw. - Iâve been in private communication with Jordan, when I had to do the same on Poloniex what I do here and now to support the peg.
I wouldnât dare to quote a private message I received, but I think I can quote what I wrote to Jordan on Jan 24th:
Make a guess whether or not Jordan told me that this behaviour is inacceptable back then. He was aware of what I had made the NuBots for.
Discussions about this were all around the place ever since.
Riding roughshot over me makes me think of the motives, the incentives that make him do that. And I wonder why I havenât received as much as a hint before.
Passing the 1% motion would suffice for adjusting liquidity provisionâŚ
âŚbut whom would you blame for the situation Nuâs in?
Tactical move to strike first.
But an unfair one.
We have to wait until the children steal the bread before we cut their hands off.
I already âstole the breadâ in January.
Jordan knew it.
Why not âfiringâ me back then?
Or starting a discussion about it?
Because I was still useful
- as cheap worker, that revealed the passion for Nu?
- as the one to blame later when Nu came in dire situations?
As a NuShare investor and longtime lurker here, I want to say, that this is nuts. This tells me that I should never buy NuShares and should dump mine immediately to save the remaining 1/5 of the value I bought them at. Good luck selling NuShares when every investor is dumping thereâs on the exchanges because theyâre trying not to lose all.
Perhaps nushares arent an investment tool, but a voting and peg defending tool.
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