NuBits

[liondani]

Even though bots are involved, there may well be other elements. Perhaps bots could be deployed on a decentralized basis somehow? And I don't know if there is any currency involved besides Peercoin. So I'm assuming that if they're talking about an innovation that can keep crypto prices stable, they must be planning to unleash it on Peercoin first. But we will see when it comes out.

Anything they have that is better than BTSX we can copy and deploy in a few weeks     Unless it involves large financial partners making the market (which it seems to require...) but we will have bots for that this week.

Didn't know that bytemaster is a good poker player... until now !
Well done Mister! 

The reason why I will be voting “no” for open-source until a later date
[David]

Today I came across a fan-club thread of ours (well, not really) at BitsharesX.

https://bitsharestalk.org/index.php?topic=9057.011

A key quote from Bitshares creator Dan Larimer (bytemaster):2 "Anything they have that is better than BTSX we can copy and deploy in a few weeks. wink"

Jordan is correct that we will likely have several groups try and imitate our design after release. Bitshares currently has a much larger community than ours and would be a direct threat to our success if they can access the code. While they can probably reverse-engineer something in time, having access to the source code would speed this outcome up considerably.

We need to establish momentum early on before others can attempt to catch up.

And that's why I will not be voting for an "open-source" motion in the near future.

A final quote from our website that should help ease some fears about transparency:

"NuBits developers who have access to the source code are encouraged to describe it using natural language (such as English) in any level of detail publicly as people ask questions. Small code snippets (less than 20 lines) may even be posted publicly to illustrate how specific aspects of the software work."

[donkeypong]

That is not correct either. Anyone who has something to offer the network can get NuShares, in many cases without paying so much as a bitcent for them. I detailed this here:

http://discuss.nubits.com/t/undistributed-nushares/125/9

I stand corrected. Thank you for the clarification. I hope you'll understand it wasn't all that easy to spot the 'hand-picked poor man's loophole' there on your page.

[chryspano]

That is true, BTER trades nubits for btc, but if someone wants to buy nushares(from Jordan Lee?) he can do it only with nubits, so he has to buy nubits and sell them for nushares. I don't know if there is something else happening.

This is not true. In fact, the team received the first request to pay for NuShares with NuBits on Wednesday. As of this moment, no NuShares have been purchased with NuBits.

hm... I misunderstood the first post here  http://discuss.nubits.com/t/undistributed-nushares/125 not a native english speaker here

[JordanLee]

That is true, BTER trades nubits for btc, but if someone wants to buy nushares(from Jordan Lee?) he can do it only with nubits, so he has to buy nubits and sell them for nushares. I don't know if there is something else happening.

This is not true. In fact, the team received the first request to pay for NuShares with NuBits on Wednesday. As of this moment, no NuShares have been purchased with NuBits.

Ah, but only those elites with $9,000 to burn can get in this game, right?

That is not correct either. Anyone who has something to offer the network can get NuShares, in many cases without paying so much as a bitcent for them. I detailed this here:

http://discuss.nubits.com/t/undistributed-nushares/125/9

[donkeypong]

That is true, BTER trades nubits for btc, but if someone wants to buy nushares(from Jordan Lee?) he can do it only with nubits, so he has to buy nubits and sell them for nushares. I don't know if there is something else happening.

This is not true. In fact, the team received the first request to pay for NuShares with NuBits on Wednesday. As of this moment, no NuShares have been purchased with NuBits.

Ah, but only those elites with $9,000 to burn can get in this game, right?

[JordanLee]

That is true, BTER trades nubits for btc, but if someone wants to buy nushares(from Jordan Lee?) he can do it only with nubits, so he has to buy nubits and sell them for nushares. I don't know if there is something else happening.

This is not true. In fact, the team received the first request to pay for NuShares with NuBits on Wednesday. As of this moment, no NuShares have been purchased with NuBits.

[Chronos]

The volume could be because of the liquidity offered. A user can easily buy 5'000 NBT today, park them for a week to earn interest, and then sell them, without much risk. You can't move anywhere near that much value in BitUSD today, due to liquidity issues.

[liondani]

There is no way anyone would buy thousands of NBTs without purpose at the moment. Or all the buyers are unaware that they buying the 1 USD and not the crypto share Nushares.

Well, there are a few reasons, such as parking incentives. However, the volume shocked me, too. I would guess that quite a few buyers did not realize they were buying a pegged asset. 

That's the problem when we are only concentrated on cheese....

[Chronos]

There is no way anyone would buy thousands of NBTs without purpose at the moment. Or all the buyers are unaware that they buying the 1 USD and not the crypto share Nushares.

Well, there are a few reasons, such as parking incentives. However, the volume shocked me, too. I would guess that quite a few buyers did not realize they were buying a pegged asset. 

[cass]

If you saw what brian+cass+marketing bros were up to I think you'd be ok with waiting another month or so before a "big" push. I hate vague promises of "something big is coming", but actually...

Sent from my SCH-I535 using Tapatalk

We will quickly start loosing our launch benefit window for marketing by the end of Sept IMO.  I hope whatever they have cooking is VERY substantial.  Enough to overcome this lost opportunity.

[xeroc]

they still need to proof that "their peg(tm)" is holding for longer time ..

ours holds within a few percent for couple of weeks already ..

[chryspano]

That is true, BTER trades nubits for btc, but if someone wants to buy nushares(from Jordan Lee?) he can do it only with nubits, so he has to buy nubits and sell them for nushares. I don't know if there is something else happening.

[Shentist]

http://discuss.nubits.com/t/the-reason-why-i-will-be-voting-no-for-open-source-until-a-later-date/202/7

entertaining on the other side

[Shentist]

Hmm. I'm a bit shocked by Nubit's volume.. I am not sure what to make of it.

http://coinmarketcap.com/currencies/nubits/#markets

http://coinmarketcap.com/assets/bitusd/#markets

I am puzzled seeing as though I think BitsharesX is a better solution.. less prone to manipulation just vote out delegates if they act up with their price feeds (Nushareholders holders can't be ousted for manipulating interest rates or printing of money)... more fair distribution and release (AGS/PTS vs internal funding, even now u have to message the dev and give him a reason why u should be able to buy Nushares)... bitUSD has collateral ( Nubits are Non collateralized and can be printed by Nusharesholders)... set free market dynamics that don't change after we get them right (vs Nusharesholders adjusting interest rates and printing money)... Nothing like the Feds (Nushares similar to the Feds.)

What am I missing? Is it because they are on more exchanges? Because it's new and people want to mess around with it? Marketing? Long time Peercoiners support that will fade away eventually once they run out of crypto/capital?

I think that they sell their nubitshares in 5m "packets" for 9000 nubits each (A recent post says that they can sell 1m packets too ) if the selling period is not over then maybe this creates this volume. http://discuss.nubits.com/t/undistributed-nushares/125

don't be confused!

if i understand it correct, they are selling Nubits on BTER (NBT) who is pegged 1 == 1 USD and not the "Nushares" who will give you the upside. I suppose BTER got on a deal to show trading volume. There is no way anyone would buy thousands of NBTs without purpose at the moment. Or all the buyers are unaware that they buying the 1 USD and not the crypto share Nushares.

[chryspano]

Hmm. I'm a bit shocked by Nubit's volume.. I am not sure what to make of it.

http://coinmarketcap.com/currencies/nubits/#markets

http://coinmarketcap.com/assets/bitusd/#markets

I am puzzled seeing as though I think BitsharesX is a better solution.. less prone to manipulation just vote out delegates if they act up with their price feeds (Nushareholders holders can't be ousted for manipulating interest rates or printing of money)... more fair distribution and release (AGS/PTS vs internal funding, even now u have to message the dev and give him a reason why u should be able to buy Nushares)... bitUSD has collateral ( Nubits are Non collateralized and can be printed by Nusharesholders)... set free market dynamics that don't change after we get them right (vs Nusharesholders adjusting interest rates and printing money)... Nothing like the Feds (Nushares similar to the Feds.)

What am I missing? Is it because they are on more exchanges? Because it's new and people want to mess around with it? Marketing? Long time Peercoiners support that will fade away eventually once they run out of crypto/capital?

I think that they sell their nubitshares in 5m "packets" for 9000 nubits each (A recent post says that they can sell 1m packets too ) if the selling period is not over then maybe this creates this volume. http://discuss.nubits.com/t/undistributed-nushares/125