[Withdrawn] Make Firing and Replacing Incompetent Liquidity Providers Our Top Priority

[teek]

Along these lines… I think if the biggest creditors (to the point of majority) agreed to a debt equity swap deal, it would be (semi?)-legit to force those same terms on everyone else… That is how it would work in the real world…

[creon]

There is no distribution of power, and no independent courts who would have the power to make a final decision. Coming from a country where people sue each other over tiny scratches in their car, I was honestly surprised how even registered companies like CCEDK and BTER are apparently legally in no trouble whatsoever if they simply continue operation after a hack and promise to pay back their customers at some day (or maybe not).

But of course I agree that a step like this here has to be well communicated and the consequences need to be understood by all participants.

[CommunityObserver]

Perhaps nushares arent an investment tool, but a voting and peg defending tool.

They are all those things.

In times when the network does well, shareholders benefit, in times when the network suffers the shareholders suffer as well. The shareholders are the network. If some shareholders don’t understand this, they don’t understand what they bought.

This also brings opportunity, if people believe the network will recover then supporting it in dire times IS the investment tool. This is also why the peg is so important though… It’s the only product that keeps the engine running, without it all momentum is lost. Without the peg, there is nothing for people to invest in.

@Confucius you said doubted buying Nu because of a lack of investment possibility in shares earlier and I couldnt reply so Im tagging you so you see this response by teek.

[nmei]

Nu needs a way for NBT holders to vote for that to be legit… Nu has to propose a plan to it’s largest creditors…

People investing in NSR enabled NBT right? They have the right of control. NBT holders can have a say - through NSR.

[qucubert2]

We are the fourth most active crypto community. That is where our greatest value lies. Above all, we need to find a way to maintain and grow our community of active contributors.

As a central figure, I think alot of the success and failures of the community are attributable to you, J Lee. Without assigning fault, i feel that your role just need to enforce a chill atmosphere that will allow other professional developers to flourish – and not worry so much!

[qucubert2]

We do this until the NuShare price is zero and stays there or until we have fully restored deep and consistent liquidity at 0.995. It’s the only way back from the irresponsible choice of abandoning the peg that I can see.

I would rather you didn’t do that. What about declaring a new peg at ~50 cents?