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Offline xeroc

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nuBits: 9$ - nice peg
« on: February 06, 2015, 03:08:14 PM »



not CMC's fault:

« Last Edit: February 06, 2015, 03:10:47 PM by xeroc ¯\_(ツ)_/¯ »
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Offline Kenof

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Re: nuBits: 9$ - nice peg
« Reply #1 on: February 06, 2015, 03:22:20 PM »
this is very strange,
nubits usually have better peg then bitusd, but when their peg fail it is catastrophic failure

this is huge plus for us   ;)
Making life easier.

Offline yellowecho

Re: nuBits: 9$ - nice peg
« Reply #2 on: February 06, 2015, 03:39:10 PM »
LOL It looks like a bot went rogue or something.  Is there a way to short this???
696c6f766562726f776e696573

Offline liondani

Re: nuBits: 9$ - nice peg
« Reply #3 on: February 06, 2015, 03:41:56 PM »
I am wondering what they are doing ! (?)
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Offline liondani

Re: nuBits: 9$ - nice peg
« Reply #4 on: February 06, 2015, 03:43:16 PM »
LOL It looks like a bot went rogue or something.  Is there a way to short this???

buy on BTER then move to CCEDK... and sell  :P
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Offline yellowecho

Re: nuBits: 9$ - nice peg
« Reply #5 on: February 06, 2015, 03:51:57 PM »
LOL It looks like a bot went rogue or something.  Is there a way to short this???

buy on BTER then move to CCEDK... and sell  :P

No more buyers at that price  :-[
It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol
696c6f766562726f776e696573

Offline liondani

Re: nuBits: 9$ - nice peg
« Reply #6 on: February 06, 2015, 03:54:13 PM »
Seems the bot has lost one digit and was buying nubits until it reach 10x the original price  :D
So probably one custodian is now out of the game  :'(


edit: I just saw your above message  :)
It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol
« Last Edit: February 06, 2015, 03:55:59 PM by liondani »
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Offline liondani

Re: nuBits: 9$ - nice peg
« Reply #7 on: February 06, 2015, 03:58:17 PM »
Seems the bot has lost one digit and was buying nubits until it reach 10x the original price  :D
So probably one custodian is now out of the game  :'(


edit: I just saw your above message  :)
It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

so a good tactic is to have open sell orders about 8 times the dollars price... it will happen again for sure  8)
(and maybe open buy orders at  8 times lower price)
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Offline yellowecho

Re: nuBits: 9$ - nice peg
« Reply #8 on: February 06, 2015, 04:03:36 PM »
Seems the bot has lost one digit and was buying nubits until it reach 10x the original price  :D
So probably one custodian is now out of the game  :'(


edit: I just saw your above message  :)
It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

so a good tactic is to have open sell orders about 8 times the dollars price... it will happen again for sure  8)
(and maybe open buy orders at  8 times lower price)

If the bot overpaid for NuBits by 8x it's real price in BTC, doesn't that mean NuShares has opened itself up to a huge risk of insolvency since it's used as collateral?
696c6f766562726f776e696573

Offline svk

Re: nuBits: 9$ - nice peg
« Reply #9 on: February 06, 2015, 04:13:07 PM »
I guess NuShares is up 300% because someone didn't realize NuBits is supposed to be at 1$ and thought it was a good thing that it's now trading at 9-10$? lol
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Offline Mtinie

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Re: nuBits: 9$ - nice peg
« Reply #10 on: February 06, 2015, 04:50:33 PM »
NuBot wasn't involved on either side of these outlier trades. Someone had a manual order placed at at 10x the going rate (most likely to sucker someone into buying it who wasn't paying attention) and another trader erroneously bought those NBT during a wall shift.

Offline edilliam

Re: nuBits: 9$ - nice peg
« Reply #11 on: February 06, 2015, 04:57:54 PM »
It's returned to normal now. But, here's another screenshot:


Offline btswildpig

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Re: nuBits: 9$ - nice peg
« Reply #12 on: February 06, 2015, 04:59:28 PM »
NuBot wasn't involved on either side of these outlier trades. Someone had a manual order placed at at 10x the going rate (most likely to sucker someone into buying it who wasn't paying attention) and another trader erroneously bought those NBT during a wall shift.

What happens to those buy orders ? Why the buy orders for NBT are so thin on these few days ?
« Last Edit: February 06, 2015, 05:14:25 PM by btswildpig »
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Offline Mtinie

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Re: nuBits: 9$ - nice peg
« Reply #13 on: February 06, 2015, 05:04:40 PM »
It's returned to normal now. But, here's another screenshot:

If you look again you'll see that everything is normalized. I don't have an answer for why CMC showed that other than the outlier orders from CCEDK's market somehow affected CMC's global calculation for NBT's average price.

Edit: Actually, I do. All of the markets you highlighted in the screen capture use NBT as the base currency.

If CCEDK's NBT/BTC price (which was the dominant market during the timeframe) was showing ~$10, then CMC would use that price to set the new baseline prices for all of the NBT denominated markets.
« Last Edit: February 06, 2015, 05:06:50 PM by Mtinie »

Offline Ander

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Re: nuBits: 9$ - nice peg
« Reply #14 on: February 06, 2015, 06:22:07 PM »
You guys should stop salivating over one low volume trade where some guy fat fingered an order and was off be a decimal place.

Pegs don't prevent the price from ever going away from the peg value for a short time due to things like this, they just ensure that it will go back.


The same exact thing could happen in bitUSD and the Nubits people could laugh at us, but you guys would point out that it was just a brief blip.  Give them the same amount of credit.
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